wise spending money on the lotto?
Question by John S: wise spending money on the lotto?
I have little income and dream of becoming a millionaire so I can travel the world when I want to. Is it wise spending earnings on the lotto every week?
Best answer:
Answer by Mark Wales
Well I was in the same boat as you but I discovered a MUCH better way of playing the lotto by being in a syndicate.
I win small prizes almost weekly now (which pays for my independent lotto tickets)!
I don’t think that it is wise spending money on the lotto.
The odds are against you by such a great number that it would be easier to throw batteries up in a lightning storm and have them come back down to you charged
http://www.greaterchance.co.uk
seems like the way to go bro! I subscribed to it also and I won 3000 pounds just last month! I’m going off to Hawaii with that. Happy Days!
You really do stand a greater chance by being in that syndicate.
Ah, a classic example of incentive. There is a high incentive to play the lottery because the winnings can be huge. Yet, it is this incentive which makes it useless. As the number of players increases, the chances of an individual winning falls. Therefore, the risk of losing your money increases with it. Considering that you may only be purchasing one ticket though, i doubt it could hurt your income significantly. But, one must remember that the chances of winning are close to 0, and the risk of losing your entire investment is close 100%.
Wise if you restrict your wagering to only what you can afford to lose, according to Reno, NV’s legendary casino owner (deceased) Harold I. “Pappy” Smith. You can’t win if you don’t play, but don’t go in over your head ever in soliciting random chance. Smith was “old school” gaming in that he respected his customers and never “hustled” them, unlike today’s high energy “Billy be Damned” approach.
I am in a syndicate too and won some money back from it.
http://www.greaterchance.co.uk seems like a good one and I think I might join that too.
Also, when choosing your own numbers, meditate late at night and clear your mind, use your psychic ability / intuition to right the numbers down. I have had several small wins doing this.
Forget the lotto. Work hard and invest.
NO. The lotto is for boobs. There is almost no chhance of winning, you may as well throw your money out in the street. people say you can’t win if you don’t play, but you can’t get the money back you waste buying tickets. Save your money.
Let’s answer in economic terms.
If you get positive utility out of buying a lottery ticket–that is, if it feels good to dream, and buying that lottery ticket and imagining being rich is useful to you–then yes, it might be wise to spend some of your earnings on the lotto each week.
You would have to compare that to some alternative source of utility. For example, putting that same money into a savings account every week and watching it grow year over year. If that brings you more utility than dreaming about being rich, you should do that instead.
The only mistake you could make is thinking that the dreams were anything other than that–dreams. You stand a better chance of dying from a lightning strike or getting bitten by a shark than you do of winning the lotto.