Hoosier Lotto Sales Up: Does this Mean More Indiana Gambling Debt?

Many of us find the lure of making easy money irresistible. The idea that spending a couple dollars on lottery tickets could make you an instant millionaire and change your life completely is a wonderful fantasy. Unfortunately, the reality for some problem gamblers who play the lottery or other games is unmanageable gambling debt.

With regard to Hoosier Lotto tickets, sales are up over $7 million in the past fiscal year. Fewer but larger jackpots have attracted more people to the game. Overall, revenue from lottery games is up 26 percent during the past 10 years.

The recession previously caused a dip in Indiana's lottery ticket sales. John Kindt, a professor of business and legal policy, explained that during an economic downturn most lottery tickets are purchased by "problem gamblers" including gambling addicts and people desperate for money. Lotteries then may direct advertising toward these at-risk populations. "Millions lose," Kindt stated "so that a few winners can win."

What if you are struggling with gambling debt?

If you are struggling with gambling debt you are not alone. Increasingly people are filing for bankruptcy due to gambling debt. You also have options to get out of debt. Gambling debts are unsecured and may be discharged in bankruptcy. However, if it can be shown that you amassed a significant amount of gambling debt right before filing for bankruptcy you could face charges of federal fraud. An attorney can provide legal guidance based on your unique situation.

Source: Indystar.com, Hoosier Lotto amid 3rd-longest run of no big winners, Jon Murray, 8 February 2012