What the $1.3 Billion Mega Millions Jackpot Reveals About the Economy

Posted on AllSides August 3rd, 2022
From The Center
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ANALYSIS

Two things tend to boost lottery-ticket sales: massive jackpots and economic downturns. Last week, both seemed to be in play.

On Thursday, the Commerce Department said the country’s gross domestic product, a broad measure of the goods and services produced, fell at an annual rate of 0.9% in the second quarter. This was the second quarter in a row to decline, a common definition of a recession. 

Then, on Friday, Mega Millions had its second-largest drawing ever of $1.3 billion. The outsize jackpot generated $703.6 million in sales nationally, lottery officials said....

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What the $1.3 Billion Mega Millions Jackpot Reveals About the Economy

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