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Lottery big part of state’s financial plans, but first voters must vote to keep it
While other contributors to state revenues have dropped off severely of late, the Arizona Lottery has been a growing source of tens of millions of dollars per year since its inception in 1980. The lottery funds a variety of voter-approved state programs in areas such as education, health and transportation and has contributed $2.3 billion in all to its beneficiaries.
Lottery renewal needed before state can borrow
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.
