Tikithing t1_iy0altb wrote
Reply to comment by zenos_dog in People who win the lottery make poor financial decisions because people who make good financial decisions don't buy lottery tickets. by DjHalk45
I work in a shop and I always laugh when people buy lottery tickets because the jackpot has hit a certain amount. Like ugh, $150 million, not even worth winning, but $200 million is.
Virtuoso1980 t1_iy0bc5v wrote
Because it’s not their livelihood. I buy tickets when it’s a high amount and i get my money’s worth of hoping and daydreaming about what I can do with the prize.
thunderwolf69 t1_iy0e649 wrote
It’s just a bit of fun, innit? My wife and I spent $9 to spend a night fantasizing and having fun about what we’d do with winning that 2bil Powerball a few weeks ago lol. Even getting $50k would’ve been worth it.
People with money don’t play the lotto because they don’t need to win a 2bil Powerball, OP. They already have generational wealth.
slipperyShoesss t1_iy0epzo wrote
Also feels like Christmas morning as kid as the time for the numbers to be shown gets close. Oooo what am I gonna get??? Oh, nothing, as usual. <Sobs into stocking>
ThirdCrew t1_iy0b3zr wrote
It's not about the money, it's a way to moderate one self. Winning Powerball or mega millions is life changing money whatever the amount.
Brain-of-Sugar t1_iy0bxon wrote
You talk about it like people even have a chance at winning nowadays. Last time I checked you have a better chance at getting hit by lightning 3 times in your lifetime.
If you really want to moderate, then understand that it's a scam and choose a better coping mechanism.
oflowz t1_iy0dnxq wrote
So what? It’s just a dollar. It’s not about the mathematical chance to win everyone knows the odds. But saying it isn’t possible to win is a lie.
The chances are low but people do win. There’s a difference between playing it for fun and being addicted to gambling.
To me spending $2 on a lotto ticket is better for you than buying a candy bar or soda.
My dad won $300,000 playing the lotto a couple years ago. He doesn’t spend tons on it he buys a ticket with change from going to the store. He’s retired and enjoys it what’s the harm?
The same people mad at people playing the lotto go spend $50 a weekend drinking. Everyone has a vice as long as you manage it I don’t see the issue.
Brain-of-Sugar t1_iy0f57y wrote
Because I definitely partake in unhealthy coping mechanisms like that. Yep. Absolutely accurate.
It's gambling. If you don't have that high of moral standards, then there's not much point in arguing about it unless you want to try and convince me that it's not predatory and that poorer areas and black neighborhoods are disproportionally targeted by it?
Edit since I saw yours: Not really. I don't drink. I also view that as useless, though not as predatory since Americans have to be 21 to throw their money away getting alcohol.
MoonBearIsNotAmused t1_iy0jqgg wrote
So is you or me not buying a ticket magically gonna make anything that you mentioned change? You indirectly contribute to all the evil in the world just buy grocery shopping at Walmart. Ever bought chocolate? How does impoverished cocoa farmers who have never had chocolate taste? Get off your high horse and daydream about a jackpot once in a while
void_evilness t1_iy0eo47 wrote
Have heard of ‘doing something for fun’? Most ppl who buy the lottery arent really expecting to win it lol they like the idea of “possibly winning” and it’s just harmless fun like a raffle ticket for a fundraiser jesus
TrulyStupidNewb t1_iy0hu54 wrote
It's harmless fun for most people, just like alcohol, but for a minority of population, it's a struggle.
I totally believe that lottery should be legal. After all, you are spending your money. Even if the odds of winning was 0%, it should still be legal because people can do anything with their money, even flush it down a toilet.
However, my uncle lost $1 million Canadian dollars on gambling. He retired early after selling his successful restaurant, then blew all his money on gambling, then remortgaged his house and gambled that away too. Now, 15 years later, he's still driving an uber.
I am afraid of gambling because I don't want it to snowball like my uncle. If he was able to blow away $1 million Canadian dollars, I don't even want to get into gambling.
Simply_Epic t1_iy0dcq1 wrote
Someone on Twitter did the math and with the odds of winning at $1B it’s actually rational to buy 3 powerball tickets. No more, no less. Every lottery would have some threshold where it’s rational to buy 1 ticket based on the odds of winning and jackpot amount. Those people certainly aren’t doing the math, though.
Loki12241224 t1_iy0fidk wrote
That doesn't make sense to me. If the expected value of winning the lottery is greater than 1 than it should be rational to buy infinite tickets and if it's less than it's not rational to buy any. How did they come up with 3?
sei556 t1_iy0bsuo wrote
Well for most lotteries here you can win a percentage of the jackpot by getting some numbers right. The odds for that are way higher and the higher the jackpot, the higher the payout from the lower brackets
bytx t1_iy0c670 wrote
Also the larger the jackpot is the more people playing the more winners and more divided the wining.
get_off_my_lawn_n0w t1_iy0goa0 wrote
Its about the fantasy, I understand the probability just fine. I earn enough to get by. Life is good.
The idea that I could never have to work is appealing. Just not appealing enought to buy them all the time.
Emu1981 t1_iy0q4cw wrote
>I work in a shop and I always laugh when people buy lottery tickets because the jackpot has hit a certain amount. Like ugh, $150 million, not even worth winning, but $200 million is.
It is a great way to self moderate your spending on lottery tickets while still getting that "if I won the lottery" feel. If there is 52 draws a year and the jackpot goes off enough for it to only hit (say) $200m+ for 2-3 of those draws then you go from potentially playing 52 times a year to just 2-3 times a year.
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