Local News

<< Previous   of   Next >> (click to enlarge) Juan Bocanegra, 52, holds a Lotto ticket he purchased Wednesday at Wilson's Delicatessen. Dan Bates / The Herald  (click to enlarge) Steve Hudson, 57, uses a penny to see if he has any winners Wednesday at Wilson's Delicatessen in Everett. Dan Bates / The Herald  (click to enlarge) Francis Bercier, 51, a Chippewa, N.D., native now living in Everett, takes a look at a $2 scratch ticket he bought from Mary Wilson at Wilson's Delicatessen on Rucker Avenue in Everett on Wednesday.   ADVERTISEMENT   CONTACT THE HERALD Robert Frank, City Editor frank@heraldnet.com   Published: Monday, June 23, 2008 Hard times? Not for lottery By Scott Pesznecker, Herald Writer Gas prices are up, tourism is slow and expensive coffee drinks are out. Lottery tickets are in. People might be pinching pennies to cope with the slumping economy, but they're not cutting back on buying lottery tickets, according to Washington's Lottery data. In fact, ticket sales are up slightly from last year. "I keep hoping to win, that's what keeps me going," said Mike Peltier, 61, of Marysville, who typically buys about $10 worth of lottery tickets each week. "I just hope I win." On scratch tickets and draw games such as Keno and Mega Millions, Washingtonians spent $481.4 million in 2004, $458.1 million in 2005, $477.9 million in 2006 and $492.6 million in 2007, according to annual report statistics at www.walottery.com/docs/pdfs/CAFR07_Statistics.pdf. Sales in 2007 were bolstered by several large jackpots, said Jacque Coe, spokeswoman for Washington's Lottery. Through mid-June, lottery game sales for this year are ahead of 2007 sales by roughly $1.2 million, Coe said. Snohomish County residents have spent about $22.9 million on lottery games so far this year. A 2004 Herald analysis found that in six of the state's 39 counties, the amount of money being spent on the lottery each year worked out to more than $100 for every man, woman and child living in those counties. At the time, the statewide average spent on tickets was about $80 a person. "Overall, our games are doing well," Coe said. "We haven't seen any impact from the economy." It's a phenomenon dating back to 18th-century America, said Robert Wright, an economics professor at the Stern School of Business at New York University. In the wake of the Panic of 1819, a massive economic crisis in the United States, people couldn't walk down a street in Philadelphia without being accosted by lottery brokers, he said. "It was as bad as Starbucks," Wright said. People substitute cheaper pleasures for their expensive luxuries during rough financial times, he said. And with the lottery, there's that added chance of striking it rich. "People are buying them not only for the pleasure, but also for the off chance it might get them out of their financial troubles," Wright said. "There is some chance," he said. "Some people do win those things." Religiously buying lottery tickets paid off for Owen Osborn of Smokey Point. In February, the convenience store clerk won a $2.3 million jackpot from a lottery ticket he bought at 7-11 on Broadway in Everett. He took home $862,500 after taxes. Most people who play the lottery aren't as lucky as Osborn, said Peter Harvey, a financial adviser at Edward Jones in Everett. A safer bet is to invest in the stock market, he said. "You can gamble, or you can invest," Harvey said. "Investing is looking at the fundamentals, sticking with quality, reducing the risk, doing your research, doing your homework. That's investing." Lately, investors have been pulling their money out of the U.S. stock market and investing in overseas commodities such as gold and oil, Harvey said. If history is any indication, that makes the nation's stock market a safe, long-term bet, he said. People can buy more shares for less money when the market is down. "When the market recovers, historically it's been dramatic, sudden and unexpected," Harvey said. "It seems like they're going overseas, but the U.S. stock market is a good place to be in." For some people, playing the lottery isn't a matter of making money. It's an addiction. The act of gambling triggers a natural high that some people have trouble breaking away from, Everett psychologist Paul Baxter said. "People on addictions, their addictions come first," he said. "They'll pretty much even come close to selling their children or neglecting their families to get their addiction." For people who are low-income or temporarily strapped for cash, buying a cheap lottery ticket can also instill a momentary feeling of escape, he said. Rose Sargent-Hill, 36, of Everett, doesn't play lottery games -- "I can't imagine throwing my money into it," she said -- but she does gamble. After every payday, Sargent-Hill spends $20 at the penny slot machines at Quil Ceda Creek Nightclub and Casino. She recently won $1,000, she said. It's not about the money. "That's my freedom for working hard," she said. Reporter Scott Pesznecker: 425-339-3436 or spesznecker@heraldnet.com.[/URL]

1. Gay marriage issue can wait, say Referendum 71 partisans 2. Six injured, three critically, in wreck near Machias 3. Forecast for 2010 housing market: slow decline 4. First-time homebuyer credit invites tax cheats 5. That's Stud Muffin to you 6. Offensive line helps Marysville-Pilchuck rush into state playoffs 7. Glacier Peak freshman overcomes jitters to win state in cross country 8. Proud union member and veteran had a wild side 9. Snohomish County's former sanitation director claims his ouster was forced 10. More snow expected for Cascades, mountain passes 2 - Top 10 Stories Most Talked about 3 - Top 10 Stories Most Emailed

• Gough on track to keep job • Jazz vocalist headlines NPAC • Mountlake Terrace makes football history • Tax revenue sagging, city budgets lagging • ‘Touch of Magic' show opens at Gallery North • Jackson repeats as South champs • Holiday Bazaars Calendar • Meadowdale storms back to grab title • Edmonds moves to Fire District 1 • Boeing will build, flight test and deliver 787s in South Carolina to spe ... • Snohomish County EDC promoting job growth in key industry clusters • $4 million grant to advance brain tumor research has Everett links • Providence medical center construction tops off its 12-story steel frame ... • Tulalip affordable housing project to be financed by KeyBank, Raymond Ja ... • Arlington's Lak of Ink has a growing following for Luke Kooyman's creati ... • Bank of the Northwest formed • Cascade Bank earns $1.6 million