>> The hope of plopping down $1 and walking away with millions apparently isn't enough to lure millennials, and that's causing a lot of anxiety for lottery officials around the country. I'm Conway in New York. I'm part of the generation that was told all you need is a dollar and a dream.
But that slogan is no longer tempting younger Americans who are increasingly choosing not to stand online to buy a lotto ticket. Only one-third of all millennials polled last year by Gallop admitted to playing the lottery, a far lower percentage than their parents and grandparents. The ripples that's causing for an $80 billion industry extend to state budgets that depend on the money raised to plug holes in things like education and help for military veterans.
So why are so many young people not willing to take a chance on spending a few dollars for the right number combination and a chance to never have to work again? Frugality is one reason. Remember, this is the generation that came to age during the worst financial crisis since the great depression.
A 21 year old woman telling Reuters that when it comes to spending money, even if it's one dollar, it has to be worth it. The digital revolution is another reason. In an attempt to prevent compulsive gamblers from getting out of control, most states limit or ban online or non-cash purchases for lotto tickets.
That might work for older players, but not for mobile-clad youngsters who rarely even touch cash. Lottery officials say they're trying to find ways around that, and also looking to add experiences like VIP access to a concert in addition to cash prizes all in an effort to win over a new generation.