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Now these two things really they go hand-in-hand, because when we talk about expected value and variance, we understand the long term expectations of hands. We understand that variance happens, that sometimes we’re going to run really well and other times we’re going to run really bad. But if we get our money in with the best hand, if we made a +EV play and variance just didn’t go our way or we experienced negative variance, then so be it. We should smile and be happy that we made the right play in the long run. Well, if you play poker for any amount of time, I’m sure you know what it is but we’ll go ahead and define it anyways. Negative variance is when we’re running bad nothing’s going our way, positive variance is when everything is going our way and we’re winning a lot.
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A commission was set up in the current budget approved two years ago to look into the idea, and issued a report last July. Three Republican lawmakers on that panel said in that report that other states that legalized iGaming or iLottery or both saw “significant increases to tax revenues generated with greater participation”. But Reps. Jeff LaRe (R-Violet Twp.) and Cindy Abrams (R-Harrison) and now-former Rep. Jay Edwards (R-Nelsonville) also noted that in-person sales of lottery games went up too.
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