Publicly traded companies are required to regularly make disclosures to their investors and the SEC. Not that most people read these disclosures ... but in theo

Publicly traded companies are required to regularly make disclosures to their investors and the SEC. Not that most people read these disclosures ... but in theory, there's less of an information asymmetry than with private companies. The lottery is usually a state-owned monopoly, so in theory, society as a whole back the cost of gambling. Or the state is simply unwilling to give up its own cash cow.