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Lottery renewal needed before state can borrow (access required)

The odds of winning the Arizona Lottery's big jackpot are about one in 175 million. The odds that lawmakers will sell off future lottery revenues for a quick cash infusion are exponentially better. As lawmakers ponder how to fix a fiscal 2011 budget deficit that is expected to top $2 billion, many are viewing lottery securitization as a last resort whose time has come.

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