What is your opinion of lotteries?

[Bob NC]

He usually breaks even or comes out 10 or 20 bucks ahead.

Doubtful.

 

[brekin67]

Our office pool won 30,000 in the Oklahoma lottery last year. Split between 7 people.

 

[NYCDiane]

Our office pool won 30,000 in the Oklahoma lottery last year. Split between 7 people.

How much did each of you get after taxes?

 

[duffy]

Lotteries are a tax on stupidity.

 

[metime]

Hi, metime. I'm Scurvy. It's nice to meet you!

Now you can say you've "met" a financially stable person who plays the lottery! I spend less than the cost of one latte on the lottery each week (and I don't actually play every week, but I allow myself to if I want to) for a ticket with a set of numbers that have sentimental value to me. If I win, great! If I don't, then the entertainment value and the enjoyment I get from "planning" what I would do with my winnings is well worth the cost. In fact sometimes I think it helps me with my budget - anything that seems too extravagent a purchase (which is most things; I tend to only buy things that are on sale) goes onto my "If I win the lottery" list. Of course I'll likely never win a significant amount, but if I do I'll have my list of things to buy!

It depends on what you mean by 'extravagant item' If you mean expensive clothing, purses, or cars then a financially stable person (in my eyes) could afford to buy those with out waiting to win the lottery or financing. The stability I am talking about is someone who has no debt and can afford to buy things if they are on sale or not.

I am speaking of people I have met, that I know, in person, who are actually financially stable. All of those people I consider stable (which is relative) have worked and saved, have no debt, have diversified savings and should something happen like an illness or job loss they would be just fine.

Every one I know personally who plays the lottery are on and off some sort of government assistence and what ever money they do come into seems to be gone in the blink of an eye. They have no savings loads of debt and every tiny hangnail is a huge setback because they plan for nothing.

I get why people play but I wouldn't count you as someone I know or have met so I am still waiting for one example to off set the many others that I have met.

 

[metime]

While I applaud the state governments for being smart enough to funnel other people's stupidity into the schools, in general I think they are a bad thing.

I won't say I don't buy 1 or 2 a few times a year when the big one is out just for fun but I know I'm tossing out $2 and I'm ok with that. Gambling is a sorry, sad addiction that can easily devastate someone. My mom is a huge gambler in gdenial, she has severe untread ocd and that is her obsession. She spends so much money it's not funny and is in denial about how much she spends. To grow up watching her do that and yet we didn't have enough school clothes or anything else is sickening.

It's a different kind of addiction. You get drunk and pass out, you get high, get caught or sick and something smacks you into rehab. With gambling you go and go until the money is gone and then keep trying to get it back until you are left with nothing. It's awful.

We must be sisters.

My mom is on every form of government assistance and even had 2 kids after 50 so she could get more in food stamps and welfare. She plays the lotto though.

We never had a phone but she could always get some scratch tickets. If you could buy lottery tickets with foodstamps we would have starved.

 

[Scurvy]

It depends on what you mean by 'extravagant item' If you mean expensive clothing, purses, or cars then a financially stable person (in my eyes) could afford to buy those with out waiting to win the lottery or financing. The stability I am talking about is someone who has no debt and can afford to buy things if they are on sale or not.

I can agree with that. What I really mean is things that I'm on the fence about that cost significantly more than the other alternatives. So I'm perfectly willing to buy a Dooney purse, but the Louis Vuitton just isn't worth the price difference to me. Or the vacation home in Florida, or the endless pool, or things like that. I know I could save and buy any of these things, but realistically I know I probably won't because there will always be things I think are better uses of my money. To me the extravagant purchases would be stuff I just can't justify spending the money on, but that if money weren't an object I'd probably buy.

I am speaking of people I have met, that I know, in person, who are actually financially stable. All of those people I consider stable (which is relative) have worked and saved, have no debt, have diversified savings and should something happen like an illness or job loss they would be just fine. .

I agree with this as well.

Every one I know personally who plays the lottery are on and off some sort of government assistence and what ever money they do come into seems to be gone in the blink of an eye. They have no savings loads of debt and every tiny hangnail is a huge setback because they plan for nothing.

I get why people play but I wouldn't count you as someone I know or have met so I am still waiting for one example to off set the many others that I have met.

Yikes! I can see why you feel as you do. I don't think I know anyone in that situation who plays the lottery, though it could be that they just don't talk about it. (Come to think of it, I don't think I know anyone on assistance, either.) People like that shouldn't be playing the lottery at all! Of course there are lots of foolish ways they could be spending money on things other than the lottery, too. My uncle, who spends money like it's going out of style, never played the lottery that I know of. But he was buying cigarettes and boats and other ridiculous things and starting crazy businesses in the hopes of getting rich until the day he declared bankruptcy. I can see how the allure of "free money" (which isn't free, of course) could be dangerous for some people. I just tend to think that anyone who would be that stupid over the lottery would be irresponsible with their money even if there was no lottery to be spending it on.

 

[tinatark]

Wow - judge much? So if someone chooses to spend their money on lottery tix, how is it anyone else's business?

What if someone spends money they shouldn't on cigarettes/alcohol/shopping/junk food? If you don't agree with it, don't play.

And don't send your kid to college with the $20k in scholarships some states fund through lottery. Some states lotteries fund pre-school too.

I have some close family members who would play the lottery or buy cigarettes instead of putting gas in their car - if I want to help them out financially (and I have) I take them to the gas station and pay for their gas, or to the grocery store,etc.

 

[Cheshire Figment]

I consider purchase of lottery tickets a "very high risk short term investment". I will buy all of the twice-weekly games available in my state on a ticket which includes 20 draws (10 weeks).

I used to live in a statge where I could get the state lottery by mail and at renewal I would put it with the bills to be paid, and once in a while they would mail me a check.

 

[loonytoony]

Lottery is awesome in GA. Paying for my kids college.

As far as winning goes....if you wanna win big....just drive to a town no one has heard of and stop in and buy a ticket....that pretty much guarantees you will win.

 

[pilesoflaundry]

We must be sisters.

My mom is on every form of government assistance and even had 2 kids after 50 so she could get more in food stamps and welfare. She plays the lotto though.

We never had a phone but she could always get some scratch tickets. If you could buy lottery tickets with foodstamps we would have starved.

The part that bothers me the most is my mom always had a well paying job and worked full time. There was zero reason we had to go without. She just chose to spend her money elsewhere. I think part of the reason I spoil my kids is to make sure they don't ever feel like I put myself above them. I just love childhood baggage *sigh*.

 

[dferr]

WOW there are alot of self righteous judgemental people here. Personally I play about once a week.Some posts are just down right offensive though. I think alot of people need to look in the mirror because I am sure there are thing someone else could think was stupid,ie hair, nails, Starbucks, alcohol, movies when you can rent for a fraction and so on. Be nicer PLEASE.

 

[livie1205]

We play the lotto about 1.00 a week...3 yrs ago we won 10,000 (got 5 out of 6 numbers) on a lotto ticket.We are stable,have a savings and pay our bills on time.Some people on here are RUDE AND WAAAAY TO JUDGEMENTAL!

 

[NYCDiane]

Lotteries are a tax on stupidity.

And why is that?? If a person has $1, $5, or $10 and they opt to spend it on a lotto game or scratch offs, why are they "stupid"? It's no different than spending your money on cigarettes, alcohol, other forms of gambling, junk food, or even (gasp!) Disney products. Things that aren't a neccessity, but something you enjoy. What is the problem with that?

People who earn their money can choose to spend it how they wish. I don't think you'd be calling someone "stupid" if they plunked down $1 on a quick pick ticket and won $7M, would you?.

The only time I would have an issue is if someone is taking money from their family to spend on lottery (or any other unneccessary item) when their family needs the money. However, even then, it's none of my business so long as it doesn't hurt my family in any way.

 

[aka-mad4themouse]

This thread is getting too contentious. Time to bring the discussion to a close.