The act of buying lottery is a voluntary act, which depends purely on the emotions of the person. The person who wins the lottery does so purely by chance (Pecorino, and Temimi, 2007) There is no exact science or a statistical theory behind buying the lottery. The person buying the lottery does not actually expect to win but people buy lottery tickets in for amusement purposes only. This was found by various survey analyses (Garrett, 1991; Clotfelter, & Cook, 1991). There is no rational reasoning for hoping to win the lottery. Morgan and Duncan have done an extensive analysis on the impact of lottery finance for public goods. But many survey results prove otherwise (Duncan, 2002). So even though there were economic models that were constructed by Morgan and Duncan the economists do not agree to factor in the lottery finance as a means for benefitting the public goods. The economists suggest that the act of buying lottery maybe solely for entertainment purposes. However the economists are expressing that this itself can be used as a factor to determine that the revenue garnered by lottery finance can be used for public benefits (Faravelli, 2011) Hoping to win the lottery by factoring in the risks and reward and by inclusion of the entertainment factor leads to a new economic model. The revenue gathered by lottery buying for public benefit financing can be comprehended using this theory. The economists insinuate that the lottery buying economic theory is not an absolute science (Kuhn et al, 2011). But by combining the statistical models and economic theories some models can be obtained. This could enable the people to develop some correlation of using the revenue generated by selling the lottery to public benefit.