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Savings and Chance, a study by a team from the Center for Emerging Market Enterprises (CEME) at the Fletcher School at Tufts University explores the ubiquity of gambling practices in Haiti and their implication for financial services. As findings indicate, the Haitian lottery, known as the borlette, appears as a historical and cultural response to economic and social marginalization, as well as a ... read moremanifestation of undeterred hope for a transformational lump sum, a sum large enough to allow them to escape their current circumstances. Formal and semi-formal financial institutions have a lot to learn from the borlette, which, in the minds of its users, is a pastime, a vice, a way to engage the spiritual realm, and a financial service.read less
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