A Lottery That Encourages Savings And No One Loses? America Hates It

A Lottery That Encourages Savings And No One Loses? America Hates It

Prize-Linked Savings plans are these things where a tiny bit of the interest on all the participants’ savings accounts get pooled together. Then on a regular basis someone gets randomly selected for a giant cash prize! The instruments have done well in other countries for years, encouraging people to save instead of wasting their money on a hopeless game. Naturally, America hates it. [More]