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Study: Poor people spend far larger proportion of their income on lottery

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Low-earning households spend a disproportionate amount of their money on lottery tickets, according to a new study.
Amanda Dixon is with Bankrate.com, which did the study.
“A lot of people think the odds are against them and winning the lottery might be their only shot at improving their financial situation.”
Bankrate.com found that the lowest-income households in the U.S. spend an average of 412 dollars a year on lottery tickets … nearly 4 times the amount spent by wealthy people.
“What we’re trying to emphasize is, you know, that’s money that you’re wasting and you could potentially be saving in a high-yield savings account.”
Bankrate.com found that almost 3 in 10 Americans in the lowest income bracket play the lottery once a week, compared with nearly 2 in 10 who earn more than that.
​By Sandy Wells
KABC News