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A Lottery for Smart People

Most lotteries are a sucker’s game. But a group of credit unions in Michigan has come up with a lottery that everyone wins. The idea is that each time a customer makes a savings deposit of $25 or more, he or she is entered into a raffle to win $400, plus a chance to win the $100,000 annual jackpot. Even if you lose, you’ve still increased your personal savings. The Wall Street Journal reports that the savings lottery has brought in some $3.1 million in new deposits so far. [%comments]