into the simplistic libertarianism of my youth. Some days are harder than others.
Today Nigel Jaquiss and Rachel Monahan reported in Willamette Week that the State of Oregon is losing money on its new sports lottery. How the hell do you lose money running a sports book? And if you did, who the hell would trust you to run a carbon cap-and-trade scheme?
Oregon Lottery Director Barry Pack will present some unwelcome news at the Lottery Commission’s monthly meeting on Feb. 28. Scoreboard, the agency’s new mobile sports betting app, will lose money for the fiscal year that ends June 30.
“Lottery will have a loss of $5.3 [million] from the program for the first nine months of FY ’20,” Pack said in a memo prepared for that meeting.
Prior to launching Scoreboard last October, lottery officials presented lawmakers with projections showing the agency expected sports to be profitable in its first year—making $6.3 million—and pick up speed after that. …