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Apple News In Conversation

What the lottery reveals about the American dream

Apple News In Conversation

Apple News

News Commentary, News

4.61.3K Ratings

🗓️ 12 November 2022

⏱️ 27 minutes

🧾️ Download transcript

Summary

This week, the Powerball topped $2 billion, making it the biggest jackpot ever. Historian Jonathan D. Cohen is the author of the book For a Dollar and a Dream: State Lotteries in Modern America. He spoke with Apple News In Conversation host Shumita Basu about our enduring obsession with the lottery — and the industry’s most troubling problems.

Transcript

Click on a timestamp to play from that location

0:00.0

This is in conversation from Apple News. I'm Shimita Basu. Today, what the lottery reveals about the state of the American dream. This is the largest Powerball jackpot so far this year.

0:27.0

The mega millions jackpot is now the mega billion.

0:31.0

There it is.

0:32.0

The new jackpot is now, wait for it,

0:34.6

estimated to be $1.3 billion.

0:38.1

Yeah, I said billion.

0:39.6

Why just bought my mega millions ticket a few seconds to go inside the gas station and let me tell you

0:43.4

lottery fever is contagious inside there.

0:45.6

Wow!

0:46.6

Congratulations, whoever you are, we'll find out soon enough.

0:50.4

Right?

0:51.4

Oh my goodness, check those tickets, check those numbers. We have a lot of winners right here.

0:55.8

What would you do if you won the lottery? Just this week the Powerball topped $2 billion. It's the biggest jackpot in world history.

1:06.0

A winning ticket was sold at a convenience store in Southern California.

1:11.0

And as a Friday, no one's claimed the prize but it's kind of fun to

1:15.9

imagine what you would do if that winning ticket was yours. Maybe pay off your

1:20.8

debts, quit your job, buy a beach house. Now as I'm sure you know, the

1:27.2

probability of winning the lottery is very, very extremely low. Your odds are about 1 in 292 million for the powerball and if you're playing

1:38.6

the mega millions your chances are even worse. Your odds of winning the mega millions are roughly the same as if you took an

1:45.7

ant put it onto four football fields and stab the fields with a needle. That's roughly

1:51.3

the equivalent odds of hitting the mega millions.

1:54.0

That's Jonathan D. Cohen.

...

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