How many people here buy lottery tickets?

[nick__45]

I have very smart people at work buying lottery tickets. Some only buy once a week and spend about 10 dollars. To them, it is acceptable risk and also a form of entertainment that could potentially yield a lot (household income of ~250k). Some buy it every day and spend at least 50 dollars per day (individually income of at least ~100k, unknown total household income). I never buy lottery ticket because I wouldn't know how to pay it anyway and probably end up ruining a winning jackpot ticket by overs-cratching or simply playing it wrong. Not knowing how to play the lotto is something I am actually proud of.

How many of you play and why? I also read some where the those from upper-middle-class family is much less likely to play than those from lower income. Additionally, minorities, especially those from lower income, tend to play more.

[disneysteve]

There is another active thread on this topic. I think your comments are very accurate. Statistically, most tickets are bought by lower income people. They are likely looking at it as their only way out of poverty as opposed to those of us who buy a ticket now and then as entertainment. I think the latter is just fine. The former is not.

I probably spend $5-$10/year on lottery tickets. I can't imagine spending $50/day no matter what my income was.

That said, my wife and I do enjoy other forms of gambling, casinos specifically. Of course, the odds at a casino are phenomenally better than the odds of playing the lottery. The house edge on a game like blackjack is only a fraction of one percent. Even slot machines only have about a 6% house edge typically, far lower than the edge the state has in the lottery.

[bjl584]

I throw in $5 whenever the jackpot gets really high and they do the lottery pool thing at work. That's about it. So, probably $10 a year or so.

There are casinos all around me, but I've never been to them. I've never been into gambling or betting all that much.

[disneysteve]

Originally Posted by bjl584

There are casinos all around me, but I've never been to them. I've never been into gambling or betting all that much.

I'm somewhat of an oddity : someone who is very responsible with money, careful with spending, generally frugal, saves aggressively but also enjoys gambling. That said, I study the games in detail, learn the odds, learn proper strategy and generally stick to games with the slimmest of house advantages. Properly played, blackjack has a house edge of about 0.45%. So over time, I know I'll lose but on any given trip, I've got almost a 50-50 shot at walking out a winner.

[bjl584]

Originally Posted by disneysteve

I'm somewhat of an oddity : someone who is very responsible with money, careful with spending, generally frugal, saves aggressively but also enjoys gambling. That said, I study the games in detail, learn the odds, learn proper strategy and generally stick to games with the slimmest of house advantages. Properly played, blackjack has a house edge of about 0.45%. So over time, I know I'll lose but on any given trip, I've got almost a 50-50 shot at walking out a winner.

My Stepdad likes to gamble here and there. He is also very responsible with his money. Every year he budgets and saves for a Vegas trip.

[GREENBACK]

I recently bought an Ohio "New Years" raffle ticket. It's a once a year thing. It pays a million dollars if you match the 6 digit number. I don't plat the lottery real often but occasionally do for fun. I grew up in a low income area and it's absolutely true that people in these areas are the biggest players. That includes those on welfare and food stamps.

[NetSkyBlue]

I bought 3 lottery tickets this year. I'll buy one, maybe, if it goes over 200 million, then spend the day dreaming about all the things I'd be able to do if I won. Obviously I haven't won, but it's still a good time.

[seen]

This might sound silly, but I wouldn't play the lottery alone. I will however play if it's with a group of people which brings down the cost significantly. Plus it gives us that little something extra to talk about and ogle, so I started an office pool earlier this year.

To me it's a form of entertainment, besides which I wouldn't need a 200+ million pot anyway, I would gladly split that among friends if we won, which we won't.

[disneysteve]

Originally Posted by seen

This might sound silly, but I wouldn't play the lottery alone. I will however play if it's with a group of people which brings down the cost significantly.

It is fun to do that. We used to do it when I was in school. I think we each paid $1/week but we got 15 or 20 tickets. We only hit one time for a couple hundred dollars which didn't amount to much once it got split up but it was still fun.

[seen]

Originally Posted by disneysteve

It is fun to do that. We used to do it when I was in school. I think we each paid $1/week but we got 15 or 20 tickets. We only hit one time for a couple hundred dollars which didn't amount to much once it got split up but it was still fun.

Yeah, I made the decision to start a pool earlier this year after that IT group up in Albany won $300 mil and that 1 poor guy didn't play with them. It's definitely turning out to be more fun than I thought it would be, despite the outcomes.

[Mr Nice Guy]

I think casinos and lottery/lotto tickets cannot be lumped in the same category.

Casinos provide an experience that in my opinion, cannot even be touched be scratching a ticket or looking up winning numbers. The glamorous aspect of a casino, along with the drinks make a casino more of a getaway in my book.

Scratching a lottery ticket provides a fun rush but is short lived and usually disappointing.

I have only been to a casino once, but it was a great time. My winnings were able to fund my share of the hotel room (we didn't sleep really) and it was money well spent.

[cypher1]

Originally Posted by seen

This might sound silly, but I wouldn't play the lottery alone. I will however play if it's with a group of people which brings down the cost significantly. Plus it gives us that little something extra to talk about and ogle, so I started an office pool earlier this year.

To me it's a form of entertainment, besides which I wouldn't need a 200+ million pot anyway, I would gladly split that among friends if we won, which we won't.

I'm in the same boat for entertainment factor. We only do it when it's over 100+ mil. There's a pool between 45-50 people at my work. Where one person manages all of it, and we each throw $2-4 for that week. Otherwise I've never bought a ticket on my own. None of us actually expect to win, but it doesn't hurt to have a $4 dream, even if its something to joke about for a couple days. "Gotta play to win."

[ir_dizzle]

Originally Posted by nick__45

I have very smart people at work buying lottery tickets. Some only buy once a week and spend about 10 dollars. To them, it is acceptable risk and also a form of entertainment that could potentially yield a lot (household income of ~250k). Some buy it every day and spend at least 50 dollars per day (individually income of at least ~100k, unknown total household income). I never buy lottery ticket because I wouldn't know how to pay it anyway and probably end up ruining a winning jackpot ticket by overs-cratching or simply playing it wrong. Not knowing how to play the lotto is something I am actually proud of.

How many of you play and why? I also read some where the those from upper-middle-class family is much less likely to play than those from lower income. Additionally, minorities, especially those from lower income, tend to play more.

I'll play every now and then - depending on the size of the jackpot. My wife and I have decent salaries and we're doing okay; we mostly play for entertainment and for the small glimmer of hope of being able to retire early!

[GrimJack]

I used to buy 'lotto' tickets 2 times per week - never won a thing until I got a really bright idea; every time I would normally buy tickets, I put the money into a jar. I won $200 bucks that year; never bothered to buy tickets again. I stopped putting money into the jar about 20 years ago.

[disneysteve]

Originally Posted by Mr Nice Guy

I think casinos and lottery/lotto tickets cannot be lumped in the same category.

Absolutely. Along with the experience aspect of it, the odds are phenomenally better at the casino. Some games like craps and blackjack have a house edge of less than one-half of one percent. Even "lousy" games like slot machines generally have a house edge of about 6%. That means you can expect to get back 94 cents of every dollar you wager. When you factor in comps paid by the casino for frequent play, you often come out even or ahead, even if you lost money at the game itself. And if you win at the games, even better.

Out of curiosity, I just checked my log. In the past 4 months, I've been to the casino 5 times. I won money each of those 5 times for a total win of $348. Add in comps and the total is probably $150-$200 more than that (free meals, free play, free parking). Do I win every time? Of course not. But it's a whole lot better than lottery tickets.

[akonobi]

I buy a powerball every single day.

[Joan.of.the.Arch]

Never have bought a lottery ticket. It just doesn't interest me.

[photo]

I've never purchased one and have no idea the difference between all the terms of lotto, powerball, and whatever else they're called.

[kv968]

Originally Posted by NetSkyBlue

I bought 3 lottery tickets this year. I'll buy one, maybe, if it goes over 200 million, then spend the day dreaming about all the things I'd be able to do if I won. Obviously I haven't won, but it's still a good time.

That's me. I probably buy 10 or 15 tickets a year if I notice the jackpot is high when I'm in the store. I figure for all the scenarios I can dream up for that $10-15, its worth it.

Actually I won $50 on a scratch-off that was given to me at Christmas. I think that's the most I ever won off of those things. Of course I'll be taking the cash and maybe just a MegaMillions or two just in case my luck has changed

[kv968]

Originally Posted by disneysteve

That said, my wife and I do enjoy other forms of gambling, casinos specifically. Of course, the odds at a casino are phenomenally better than the odds of playing the lottery. The house edge on a game like blackjack is only a fraction of one percent. Even slot machines only have about a 6% house edge typically, far lower than the edge the state has in the lottery.

I like to go down to AC myself every now and then. The funny thing with me is I used to play blackjack all the time but now I find myself gravitating to the roulette wheel more. The game with THE worst odds going for you. I just find it fun and fascinating. Fascinating in the sense that although I'm no statistician my any means, I've taken my fair share of stat courses and I still sometimes think I can see "patterns" developing in the numbers. I know its statistically wrong but its hard to stop your brain from looking for them. The best thing the casinos did for themselves as far as that game is concerned is to put up that display showing the most recent numbers and what has hit the most. Helps with the "pattern recognition"

Since I only go about 2-3 times a year (actually only once this year) with "money I can lose" I don't mind but I have to get back into blackjack. With that said I think I'm probably still at or above breakeven with roulette. Just gotta know when to walk away.