Saturday, January 15, 2011

"No Lose Lottery" illegal in U.S.

Super interesting idea proposing that whoever puts money into their savings account is illegible for a lottery drawing. In some places where this is being tried, it is working. A woman received $100,000 after a $75 deposit into her savings account.

It's no wonder that many people enter lotteries when they can't afford anything else---a quick solution to all their problems. If those couple bucks every week was putting into a lottery that also created a savings stash for them, it's a win for banks and buyers.

If we could only convince banks to create systems where they get the most profit when their customers succeed. Unfortunately this system is illegal in the U.S. Find out why by listening to the link below.

The “No-Lose Lottery,” Part 2 | Freakonomics Radio


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