Big Dreams, Slim Odds: The Lottery Economy

Who doesn’t dream of winning the lottery one day? Even people who don’t play probably fantacize every now and then about becoming a millionaire overnight: something few things but the lottery can help you achieve.

There is, of course, an entity that profits from the lottery no matter what: the state in which it is administered. Though the majority of the money collected from the sale of lottery tickets does go back into the jackpot, states collect their share. To find out which states collect the most, how much the winners get to keep and other interesting lottery facts, see our latest infographic.


Biggest IPOs In History

Initial public offerings - when companies first make their stocks available for sale to the public—can generate incredible wealth. Last month, in the midst of a faltering economy, the Agricultural Bank of China sold $19.2 billion dollars worth of stock on its first day available, making it the third largest IPO in history. On August 5, traders will be able to excercise options that would count towards the IPO, perhaps pushing the ABC to the top of this list. Until then, this is a list of the largest IPOs in history in U.S. dollars.


The latest Big Mac index

The Big Mac index is based on the theory of purchasing-power parity, according to which exchange rates should adjust to equalise the price of a basket of goods and services around the world. Index shows that Asia remains the cheapest place to enjoy a burger, while those on the hunt for a value meal should steer clear of Scandinavia. The latest Big Mac index suggests the euro is still overvalued.