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3 years ago

About the lottery

May 15th 2013 at 4:18 PM

about the lottery

In a country with a growing national debt, 8% unemployment rate, inflation drives up the price of food and gas, of course, that some people think the lottery's only chance to "salvation."

It is an understandable desire, but mistaken ... The truth is that the rich to benefit from the lottery is not just unlikely, it is statistically impossible.

A recent report from Bloomberg residents of Geordie named the most "big losers" in America.

Together Peach State (also known as Georgia) spent on lottery tickets are $ 3.4 billion for last year, the average is $ 470.73 per adult. This represents 1% of the annual income of the average inhabitant of the state, which has provided such a high rating in a report Bloomberg. But low interest payments on the lottery (62.9%) was the main reason that Georgia was on the top of the list, and was named a "big loser."

In Massachusetts, spending 1.3% of personal income in the year of the lottery (so that it leads), and New York ranks third. California and Delaware have the lowest fees.

Pathetic winning payout

According to the U.S. Bureau of Economic Analysis, 7 U.S. states do not have lotteries: Alabama, Alaska, Hawaii, Mississippi, Utah, and Wyoming (shock!) Nevada. In the 43 states where the lottery, the average payout is a little less than 60% of the collected revenue.

According to Bloomberg, the lottery "of all games of chance have the lowest odds" in America. They are so bad that when you play the lottery in Louisiana, you get an average of $ 0.51 gain per dollar spent. The best odds you will find in Massachusetts, but even there the return is $ 0.72 for every dollar spent. And the average payout is only $ 0.60.

Let us now compare the chance of getting the jackpot in the lottery, with another chance in our lives:

Chance of getting pregnant in one night: 1 of 20

Chance of getting struck by lightning: 1 in 10,000

Chance of dying in a plane crash: 1 of 355.318

Chance to get a royal flush: 1 of 655.750

Chance of dying from flesh-eating bacteria: 1 in a million

Chance to win the jackpot California Super Lotto: 1 out of 18 million

$ 1,000 is burned for 14 days

What does this mean for us? Let's say you have burned yourself pocket win $ 1,000. Then you decide to invest that money to buy more lottery tickets.

How much do you think you can last in this game? Let's take a look:

If you buy a lottery ticket for $ 1 on the first day, the statistics you get 60% of their investment, so that you only have $ 600 on the second day.

On the second day you spend $ 600 and stay on the third day with a $ 360.

Continue in the same spirit and on the 14th day you will have only a small thing to ring in my pocket - just $ 0.78.

In other words, in two weeks you have no money left even for a lottery ticket. You lose almost every cent you started.

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