Americans love to play the lottery... In 2017, it was estimated the US spent roughly $75 billion dollars on them alone. Yet, most of us who do not play realize a ticket holder is more likely to be struck by lightning and attacked by a shark (ON THE SAME DAY) then win a MegaMillion jackpot.
According to data drawn by Vox, the people who are sustaining this industry are those who are considered lower class, minority Americans, and are often addicts of the game. Stated in the article, "the poorest third of households buy half of all lotto tickets, according to a Duke University study in the 1980s, in part because lotteries are advertised most aggressively in poorer neighborhoods. A North Carolina report from NC Policy Watch found that the people living in the poorest counties buy the most tickets. 'Out of the 20 counties with poverty rates higher than 20 percent, 18 had lottery sales topping the statewide average of $200 per adult,' the North Carolina Justice Center reported."
With most lottery ticket purchases coming from the poorest neighborhoods, especially in places with more minorities and/or facing financial trouble, DOXA sought to offer a potential solution, introducing a Prize-Linked Savings Account. Through DOXA, users will be increntived to hold their money, while playing small lottery games through the interest that is generated on those accounts.