#1227 How The Lottery Funded America And Grew To $1 Billion Jackpots

The Pomp Podcast

Anthony Pompliano

Business, Investing

4.8 • 1.9K Ratings

🗓️ 20 July 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Anthony Pompliano breaks down how the lottery has funded America, and how we are seeing a ton of $1 billion jackpots. Why is that happening? What have the rule changes been? Where does that money go? What do you mean the lottery has funded America?

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Pomp writes a daily letter to over 250,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at ⁠https://pomp.substack.com.

Transcript

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0:00.0	Hey guys, what's going on? Today's episode's a little bit different. You just have me in a solo
0:06.8	episode and I break down how the lottery has funded America and now we are seeing a ton of one billion
0:13.4	jackpots. Why is that happening? What have the rule change been? Where does that money go? And what do you
0:18.8	mean the lottery is funded America? This was a
0:21.3	fascinating deep dive. And so I put together a very short podcast that I thought that you would find
0:25.8	interesting. Once you get done listening, jump on Twitter and let me know what you think about
0:29.5	these solo episodes. They're a little bit shorter and they're packed with information. But I want to
0:33.9	hear from you. Do you like them or do you not? If a lot of people like them, I'll keep doing them. If not, I'll say, hey, that was a cool experiment and I'll shut them down.
0:41.7	Let's get into how the lottery has funded America and why we are seeing so many $1 billion jackpots today.
0:48.8	Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast are surely their opinions and do not reflect the opinions of Pomp Investments. All views of him and the guests on his podcast are solely their opinions
0:55.2	and do not reflect the opinions of Pomp investments. You should not treat any opinion expressed by
1:00.2	Pomp or his guest as a specific inducement to make a particular investment or follow a particular
1:05.3	strategy, but only as an expression of his personal opinion. This podcast is for informational
1:10.6	purposes only. Gambling is for informational purposes only.
1:12.7	Gambling is an American tradition.
1:15.0	More specifically, the lottery has been a core component to funding the rise of America
1:19.3	and many of our most respected institutions.
1:22.2	If we go back in history, we see that the Virginia Company of London created the very first lottery in America in 1616
1:29.8	to raise money for ventures chartered by King Charles. This included the establishment of the first
1:35.7	permanent settlement in Jamestown, Virginia. Then over time, all 13 of the original colonies
1:42.0	established their own lotteries with the goal of raising money for their operations.
1:46.5	Given where the money was going, it became a civic responsibility to play the lottery.
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