Why does anyone play the lottery?

I once put two dollars into the multi-state game, and didn't win. It's a classic example of operant conditioning. Without that multimillion dollar payoff, I lost interest in playing again. I think, if I had one a couple hundred million on the first ticket, I would have been hooked as a lifelong customer.

If you play the lottery, how much did you win on your first ticket?

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whowasthatmaskedman · 70-79, M

No one really plays the lottery expecting to win. What you buy with a lottery ticket is permission to dream, because there is a path open to achieving that wealth. Until the draw. Then you buy another ticket to keep dreaming..😷

CestManan · 46-50, F

@whowasthatmaskedman [quote] to keep dreaming[/quote]

the operative words here.

whowasthatmaskedman · 70-79, M

@CestManan Yes. And a quick break down of the stats goes like this. Any lottery payout will equal the total of all revenue raised, minus the organisers cut, plus taxes. So on pure chance, you are likely to get back maybe 70% of what you spend on tickets. So lets accept for a minute that you arent going to win the lottery and instead put your ticket money into a jar on your desk every week for a couple of years. Then count it. NOW you will feel like a winner..😷

CestManan · 46-50, F

@whowasthatmaskedman I read this somewhere. In the US when someone wins a big jackpot, by the time the govt is done taking all their taxes, the winner gets only like 29% of the original winnings. Like they take 60% off the top then the pay outs are taxed again.

I do not play it anyways so not like it concerns me.

The 70% figure is likely lower here in the USA. It doesn't sound bad but it also gives people false hope.

Another problem at least here is they make gambling so tempting to those who are hooked but then there is a stigma attached.

That, like other stigmatized lifestyles, seem to follow that suit. Kind of like how they bombard people with prescription drug ads or what not then when people get hooked, the addict is suddenly to blame.

whowasthatmaskedman · 70-79, M

@CestMananHere the govt takes cut from the lottery Company pre distribution. So winnings are tax free. But Yes. I had heard of federal and State tax gouging there. Even more reason to keep your money in your pocket.😷