Is playing the lottery stupid and a waste of money?

[Xanikk999]

Yes usually. It depends which one you play.

If you play the all or nothing 1 in 100 million chance of winning kind then yah your probably pretty dumb for wasting your money.

But there are some where you have a much better chance of winning. But i still wouldnt waste my money on it.

I suppose the people who win would say otherwise though.

 

[Lockesdonkey]

Depends on where you are. In my state, at least some of the lottery money goes to public education--undoubtedly a good thing. And realistically, it's a dollar. What can you get with a dollar other than a lottery ticket? (yes, I know, you can get some things, and one US dollar goes a long way in some countries, but you folks are smart enough to know what I mean).

 

[skadistic]

Depends on the lottery. When the Mega-Millions gets up to 100 million I drop 5 bucks on it. At 200 million I'll drop 10.

 

[ohcrapitsnico]

As long as you're having fun with it I say its fine. Personally I find it a waste of time and money.

 

[CaptainF]

It's like an investment.

Knowing that you have little chance of getting any ROI, smart people don't invest that much (if at all).

 

[Azale]

In Texas, it's the only thing keeping education at even a minimally acceptable level

So no in Texas, yes in places where that is not the case.

 

[Maimonides]

As someone who sells lottery tickets of several sorts, I can say that it is a waste of money. We take in FAR more money in lottery sales than we pay out to winners.

I see about two $100 winners a week & roughly twice a year someone wins $1000 or more. Most of the winners are $1 to $10.

There are lots of different lotteries, but, if the odds were in your favor, the lottery would go broke quickly.

Lottery is what you buy when you have an extra dollar burning a hole in your pocket. Don't buy a lottery ticket hoping to win something.

 

[Mirc]

The right answer is "depends".

 

[The Yankee]

It was a mild form of entertainment during the slow middays at the campaign office last year. So it would entail a trip to the corner store to put down a dollar on a Take Five. Probably came out close to even due to the number of free ticket prices or the random $10 winnings on there.

 

[puglover]

Definitely stupid. Spend your money on better investments.

 

[Synobun]

Yes, it is both a waste and stupid. I'd rather earn my money by actually earning it, not by being lucky.

 

[Maimonides]

Depends on where you are. In my state, at least some of the lottery money goes to public education--undoubtedly a good thing.

In Texas, it's the only thing keeping education at even a minimally acceptable level

So no in Texas, yes in places where that is not the case.

State lotteries are important fundraisers. In my state, it funds lots of projects which benefit the public. You're probably better off just donating to a project you like than buying a lottery ticket, though.

 

[skadistic]

Definitely stupid. Spend your money on better investments.

But its only stupid if you lose. If you won 200 million you would be singing a different tune. Or you'd be broke and misserable like most big pot winners.

 

[potatokiosk]

It's a stupid waste of money. If you want to help education it would be more effective to just directly donate your money.

 

[civverguy]

I think it wastes your money.

 

[Lockesdonkey]

State lotteries are important fundraisers. In my state, it funds lots of projects which benefit the public. You're probably better off just donating to a project you like than buying a lottery ticket, though.

It's harder to do that; they probably don't accept donations that small, anyway. And on top of that, there's no chance, however small, that you'll win oodles of money.

 

[Bamspeedy]

Generally, no it is not a smart investement, since you lose far more often than you win. Donating money directly to help education (or in my state reduce property taxes) is more efficient, but it doesn't offer the person (who would otherwise buy a lottery ticket), any chance at all of getting a return except for a 'feel good' feeling.

And who is going to bother mailing $1 every week to their preferred cause (which will also cost them $0.41 for the stamp). Then it certainly isn't more effecient unless you saved up that money for a month or year and sent it all at one time.

As long as it's reasonable, I don't see what's wrong with playing the lottery. No, people should not be playing it with the attitude that 'This is the only way I can get any money over $1,000 (odds are they will save up that much without playing before they actually get that money by winning) , but should be playing it for mere entertainment.

If having the choice of spending $1 on a lottery ticket vs. buying a bag of chips or a candy bar, I'll take the lottery ticket.

The scratch-off tickets offer more entertainment value than the once or twice a week drawings (like powerball), but the scratch-offs can be more addictive and cause people to overspend, or right away re-spend what they just won "I know that next ticket is a winner!" I play the powerball. Buy a few tickets and then have to wait a few days before I buy some more for the next drawing.
When I worked at a gas station a decade ago, I ended up selling $120 worth of scratch-off tickets to one lady one day. I think she spent maybe $50 of her own money, with the rest being bought from the $1-$20 'winners' she scratched off.

 

[Ansar]

I wouldn't play the lottery.

Very little chance of winning.

 

[Aramazd]

It's stupid, but don't tell that to the people who play, there money goes to helping public schools.

 

[LucyDuke]

No. It's not an investment, either, it's entertainment. I'll drop five bucks for twenty minutes of something to pay attention to on a slow night at work. And maybe to win five bucks back - but that's not the point.

I'm thinking more along the lines of Keno and scratch tickets here than the Powerball or whatever.