A young, poor, rancher boy in America has won one of the largest lottery prizes ever. Now in some ways it seems really nice that someone from one of the poorest counties in America has won the lottery but that is just the surface.
The real travesty is that someone who has allegedly had to rely on the kindness of his town's folk for charitable aide would feel it prudent to spend $15 on lottery tickets. In reality if everyone were to be rational only the absolutely wealthy would win the lottery: they are the only people that have the disposable income to waste on things like lottery tickets.
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Copyright Timothy Ware 2008
12 comments:
Look up that guy from West Virginia. He was a millionaire BEFORE he won... then won the lottery, lost his wife and friends. It ruined his life.
But doesn't that make you feel better about not being rich and not winning the lottery? Did his wife run away with his bestfriend?
Many lottery winners wind up back in the same economic circumstances within a few years. Poor management, etc. What's really strange about lotteries is that there's a funky pattern in geographic selection of the winners. For example, African Americans make up about 60 percent of all lottery ticket holders, but only about 10 percent of lottery winners, according to one study. Same study found that about 80 percent of winning lottery tickets were sold from stores in areas with far majority white populations, though. Random selection of winning numbers, I know, but still seems safest to go to a dominantly white suburban/rural area to buy your lottery tickets.
Regroce, I wonder if any of this comes from the volume of tickets purchased? Whites make up 10% of purchasers but purchase 80% of the tickets?
There is a famous booth to buy tickets from in Ginza (Rich part of Tokyo). There have been about a dozen winners from this booth. Because of this people line around the block everyday to purchase tickets there. It really becomes a self-fulfilling prophecy: a larger portion of tickets sold come from the booth therefore a larger share of the winnings.
They really shouldn't be wasting money on lottery tickets... Chances of winning are like 1 in millions anyway.
Most winners end up flat broke, cos they just spend, spend, spend and of course all the friends asking for a share!
Yeah it is ridiculous. People who can budget probably do not play. I was calculating it out and I figured if I was given/won $100k at this point in my life I would probably be quite rich. That is enough to cover the remainder of my student loans and put some money into a savings plan which would reduce the amount I would have to save year over year significantly. But I am not the kind of person who would spend money on the lottery.
I dont think buying lottery ticket is a waste of money it gives people who dont have much money hope, even if they do end up flat broke again they are just back to normal but they would of had fun spending all that cash.
I dont know how it works in America but here in the uk they have many different types of draws. As long as you only spend what you can afford. I always buy 1 ticket for the main draw @ £1 its not bad and you never know you've got to be in it to win it.
Well the lottery is actually meant for poor folks, I think, you might say what is spend on the lottery is better spend on food and necessities, but when you are dirt poor, hope and dreams is also a necessity, for the soul. Day in and day out struggling is really hard on the psyche, so when spending a bit on a dream and that chance to hope is not extravagant. Look at what happen the boy's hope and dream comes true. As my sister like to say if you don't dream you will never have a dream come true!
Although financially it is a 'poor' decision, if there is a utility gained from playing the lottery, then perhaps it is understandable.
The dream has come true!
This morning i spent £1 on a lotto scrath card and won! Only £20 pound but thats up by 19 few beers at the weekend me thinks.
Any 'Game of Chance' is welcomed to offer you a "hope" at "something". Who cares if people spend a buck on a some numbers that 'might' make them rich. What about the ones who spend the buck to make themselves sick? I would much rather spend some loose change on a "hope" than waste it away on something that will kill me. In the spotlight that you do win your "hope", my advice is to seek professional help for guidence, support, and transition (lawyer, accountant, counselor). [ps... this is Bill]
Are you talking about tobacco or alcohol?
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