Minority equity ownership
LottoStocks democratizes the stock market by encouraging ownership by minority and other groups historically underrepresented in equity market ownership. This is achieved directly at point-of-sale (POS) lottery terminals by enabling individuals to divert disposable and discretionary income from the negative of lottery gambling to the positivism of equity ownership.
Stock market participation amongst non-White, Hispanics, less wealthy Americans, and those with less education is lower than amongst Whites.
Conversely, African-Americans on average spend 500% more on state lotteries than do non-Hispanic Whites. Higher per-capita spending on lotteries has also been found true for low income and lower education categories: [1]
If the Ownership Society is to be encouraged for all Americans, members of demographic groups historically underrepresented in stock market ownership must have the opportunity to increase their participation.
[1] Cited in Richard D. Young, State Lotteries: History, Practices, Issues and the South Carolina Educational Lottery, January 2004, p. 13. See also: State lotteries at the turn of the century: Report to the National Gambling Impact Study Commission, Duke University, pp 38-9.
