I stumbled across this video about a National Lottery discussion on FOX news. No I normally don't watch FOX but Google searches can take you almost anywhere.
The one commenter says that the recent PowerBall lottery produced only 500 million to help pay off our national debt, but his comments are ignorant. There is also a comment that states would be hurting because people would rather purchase tickets to the national lottery than the state lottery but this I believe is hyperbole.
The Powerball lottery produces 40 million for the first week of play, but that is only 1/3rd of what was taken in as 2/3rds of total ticket sales goes towards the states which are a part of the lottery. States get different percentages based on the ticket sales of that state.
As a lottery pot grows, so does the revenue for each state. Take for example the recent Powerball which reached over 550 million dollars.
Week 1 - 40 million pot - 80 million towards states
Week 2 - 50 million pot - 20 million towards states
Week 3 - 60 million pot - 20 million toward states
Week 4 - 70 million pot - 20 million toward states
Week 5 - 80 million pot - 20 million toward states
Week 6 - 90 million pot - 20 million toward states
Week 7 - 100 million pot - 20 million toward states
Week 8 - 110... 20 million to states
Week 9 - 124... 28 million to states
Week 10 - 143... 38 million to states
Week 11 - 168... 50 million to states
Week 12 - 185... 34 million
Week 13 - 214... 29
Week 14 - 250... 36
Week 15 - 325... 75
Week 16 - 550... 225
These are rough estimates. It doesn't take in to account people who pay for the extra $1 for the "power play".
The total take for the 16 weeks is $1,310,000,000.
If you take in to account an average haul, in one year you are looking at around 3-4 billion a year towards the national debt. Then you can also include the amount of interest saved compounded monthly.
You could also increase revenue by changing the way the lottery works. If you had a higher percentage of winners you would have more ticket sales.
The most profitable form of lottery is "block sales". When you purchase a ticket you are put in to a block with X number of ticket holders. If one ticket wins in that block then EVERY ONE in that block gets a piece of the action. If you have 50 million in the pot then you get (50) 1 million dollar winners.
Do the drawings twice a week and you would have (100) 1 million dollar winners each week.
As the pot grows you have the government earning interest off the pot, plus they get 2/3rds of profits from ticket sales.
In less than 10 years the government could earn over 1.5 to 2 trillion dollars.
Yes, this isn't the complete answer to our financial problems, but it could answer the problem of additional revenue.