Moultrie Mobile
Lottery Lessons
Community
Contributors to this thread:
NvaGvUp 12-Apr-12
The Old Sarge 12-Apr-12
NvaGvUp 12-Apr-12
acadianarcher 12-Apr-12
Hunting555 12-Apr-12
blue dog @ garage 12-Apr-12
blue dog @ garage 12-Apr-12
blue dog @ garage 12-Apr-12
NvaGvUp 12-Apr-12
Hunting555 12-Apr-12
blue dog @ garage 12-Apr-12
blue dog @ garage 12-Apr-12
Seapig@work 17-Apr-12
NvaGvUp 17-Apr-12
Neaudde 25-Oct-23
From: NvaGvUp
12-Apr-12
Lottery Lessons

By Ron Ross on 4.12.12

Government at its worst, and so of course it gets away with it, preying on the dumb citizenry.

As happens on a fairly regular basis, a lottery has been in the news. The latest example results from a record jackpot of $654 million.

Lotteries are instructional for a number of reasons. Believe it or not, Adam Smith discussed them in The Wealth of Nations (published in 1776):

'In order to have a better chance for some of the great prizes, some people purchase several tickets, and others, small shares in a greater number. There is not, however, a more certain proposition in mathematics than the more tickets you adventure upon, the more likely you are to be a loser. Adventure upon all the tickets in the lottery, and you lose for certain; and the greater the number of your tickets the nearer you approach this certainty.'

The chances of winning the lottery are not significantly affected by whether or not you have a ticket. The chances of winning the latest lottery were said to be one in 170 million. There's no practical difference between zero and .00000001.

Lotteries are an indication of the moral depravity of government. They are essentially a tax levied in proportion to a person's ignorance of probabilities. They are a scam perpetrated by the government. Lotteries make probability ignorance a crime and the ticket price is the fine.

You could argue that buying a ticket is voluntary exchange, but it is exchange based on cynicism and deception. When it comes to lotteries, governments follow W.C. Fields' sage advice, "Never smarten up a chump," as well as, "Never give a sucker an even break." Lotteries are nothing more than a state-sanctioned numbers racket. The state adds insult to injury by outlawing privately sponsored lotteries.

Most taxes and fees are in some proportion to some quantity. Income taxes are a function of your income, gasoline taxes are a function of how much gasoline you purchase, property taxes are a function of the value of the real estate you own.

Government revenues generated by lotteries are a function of what quantity? The answer, of course, is ignorance. If ever there were a bad bet, especially in terms of magnitude, it's lotteries. The percentage taken by the "house" is many times higher than any casino game.

Getting rich by winning the lottery is profoundly different from just about any other way of doing so. Most people who are rich have become so by taking some action—hard work, using their talent, being creative, for example. By contrast, winning the lottery involves none of these factors. Winning has absolutely no connection with the rest of reality. The money received is not "earned" in any way. It involves nothing but dumb luck, emphasis on dumb.

It's a truism that money cannot buy happiness, but numerous stories about past lottery winners lead to the conclusion that lottery money can buy unhappiness. There seems to be something unnatural about receiving such a large amount of money in such an unreal way.

It could be argued that lotteries give hope to millions of people. Hope, however, is not inherently good. Some kinds of hope do more harm than good. Winning millions of dollars in a lottery is a false hope. It is not one based in reality. There is an opportunity cost to that kind of hope. It deludes and distracts people from hopes and ambitions that do have a basis in reality. Hoping to win the lottery enables people to live in denial.

Large lottery jackpots are taxed at the highest federal tax rate, allowing various levels of government to get you both coming and going. For some bizarre reason, possibly guilt, in California lottery winnings are not subject to the state income tax.

Government sponsorship of lotteries should be proof that government does not have the citizenry's best interests in mind. Government's heart is clearly not in the right place.

Don't be a loser or a chump. Don't buy lottery tickets. It's the kind of thing Shakespeare was referring to when he wrote, "It's a tradition more honored in the breach than in the observance.""

12-Apr-12
So where would this put casino gambling? lol

From: NvaGvUp
12-Apr-12
Light years above state lotteries.

12-Apr-12
at least with a casino you have a little bit of fun before they screw you out of your money and line the pockets of the shareholders.

From: Hunting555
12-Apr-12
Boy, how true was that piece!!!

I do the weekly accounting for a local conv. store one evening a week. That same night, every week, a lady comes in and buys tons of instant lottery tickets. She then goes and sits at a table and scratches them all off. Anything she happens to win goes for more tickets. I've never seen her pocket the cash.

Here's the deal, this lady doesn't work, probably on disability. It's obvious that she's not quite all there. And it's also obvious that she doesn't spend money on clothes.

I'd bet at least 80% of any money she gets goes for lottery tickets. I feel very sorry for her because I know she's addicted, but I just want to go out there and slap the crap out of her everytime I see her.

12-Apr-12

blue dog @ garage's embedded Photo
blue dog @ garage's embedded Photo

12-Apr-12
"The secret of life is to appreciate the pleasure of being terribly deceived."

- Oscar Wilde

12-Apr-12

From: NvaGvUp
12-Apr-12
Good stuff, bd! lol

From: Hunting555
12-Apr-12
BD, that reminds me of high school. Knew a kid a couple years younger who didn't have a whole lot. Was your typical auto shop kid. Not a jock, not real cool, etc.....

His G'pa had money and when the kid turned 16 his G'pa bought him a 2 year old camero. One of first one's any high school kid owned at the time.

With in two weeks, one of the "Hot" cheerleaders started dating him. We tried to him she only was dating him because of his car.

His response, "Yeah I know, but what do I care, she's more fun to "drive" and "ride on" than the car!!!!! Way I understand it he got drive both extensively for a couple months!!! LOL

12-Apr-12
555...

Man..wasn't that the truth? LOL I was never flush enough for a nice cruise...

but I WAS smart enough to buy "Old Blue"..a 58 chevy panel truck. ;)

12-Apr-12

blue dog @ garage's embedded Photo
blue dog @ garage's embedded Photo

From: Seapig@work
17-Apr-12
first of all, NVA, I mostly agree with you...lotteries are a tax on stupidity.

BUUUT...

Some chance is always better than no chance.

.00000001/0 = INFINITY

When the odds are 170,000,000:1 against would you give up, NVAGiveUP? 8^)

I'm just saying'... hehehehe

Mike

From: NvaGvUp
17-Apr-12
You can't give up if you aren't participating in the scam in the first place, now can you?

03-Oct-22
Lottery is something the majority of the people in the world want to win, not only winning but to win big. I have never played the lottery because personally I always think there is something behind all the big wins. I was emotionally down because my shop rent is due and I needed help financially. I discovered Dr Amber on the internet stating how he has helped a lot people win the lottery with his spells. I never knew such a thing existed. I had a chat with him via +18084815132 telling him what I needed and he gave me his word that my life will be a testimony to other people. I purchased my first lottery ticket just as he told me to but honestly I was worried that it might be a scam. But to my relief and excitement, it was all legit! when I heard the news that I was the winner of ONE MILLION DOLLARS. I never could have imagined that I could be a lottery winner and I'm here to say thank you to Dr Amber. His reachable on Email: [email protected] or website: https://amberlottotemple.com

From: Neaudde
25-Oct-23
I love excitement and big money, that's why I love playing in casinos. This game is cool and my brother loves to play it too. But if you ask me, I sometimes prefer gambling games like slots and roulette. I advise you to pay attention to the review www.thaionlinecasino.org/casinos/bluepay-wallet/, you should be able to play hundreds of slot machines. Play slot machines to get the welcome bonuses they offer.

  • Sitka Gear