Magazine content is available exclusively for TIME subscribers.Gambling on a Way to Trim Taxes
With $6.7 billion in sales, state lotteries help pay the bills
The lines snaked for blocks around neighborhood drugstores and newsstands earlier this month as hopeful New Yorkers waited to place their bets. Among them: Governor Mario Cuomo, who stood in the rain for 20 minutes in Manhattan to buy $5 worth of chances. "There's something going on in this state," he said. "It's called greed." No wonder. Fed by three successive drawings that failed to produce a big winner, New York's lottery jackpot had ballooned to a record $22.1 million, the highest ever in North America. (The world's largest: Spain's...
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