Why do people play the lottery?

[greentea]

I know a lot of people here don't play the lottery at all, but those who do usually do so a limited amount and as a form of entertainment. So, my question is, why do most people play the lottery. The odds are so huge against winning, it seems like it's basically like throwing away money. Why does it seem so many people are willing to do this? Do they not understand the odds or is it something else?

[rennigade]

This is literally a repost of a repost of a repost. How many times do we need to recycle the lottery threads?

[greentea]

Sorry you feel that way. I didn't think this was answered in the other threads and I was curious. If you don't like my questions, feel free to ignore my threads

[bigdaddybus]

Today I stopped in a convenience store for the first time in years to pick up a pack of gum after an overly spicy lunch.
The guy in line in front of me was the stereotypical lottery player. He bought 4 packs of Paul Malls, 2 eight packs of 20oz budweiser, and about 8-12 ($5-10 each) scratch off tickets. Honestly, I was pretty proud he paid that $120 in cash!


I occasionally play the lottery for fun, just like I occasionally play in $30 buy in poker games with guys I know. Yeah its cool if I win, but I mostly do it for the entertainment value. I like to imagine what I would do with a large lottery win and buying a ticket just reminds me to "dream that dream".
If I ever do win the lottery (which I play a couple times a year) the first thing I would do is go over to a guy I knows house whose daughter has had alot of medical issues and transplant complications and they are struggling with debt. I would ask for their debt balance and pay it off and then ask to borrow their old minivan and go buy them a new one. I know I am not likely to win the lottery and I feel I have the disposable income to play, but if I do win I cant wait to pay Jake and his family a visit.

[ua_guy]

I know a lot of people here don't play the lottery at all, but those who do usually do so a limited amount and as a form of entertainment. So, my question is, why do most people play the lottery. The odds are so huge against winning, it seems like it's basically like throwing away money. Why does it seem so many people are willing to do this? Do they not understand the odds or is it something else?

I think for a lot of people in this country, "hope" is now a financial plan. People who probably can't actually afford to play the lottery do, and I think the basis for doing so is knowing that someone WILL win. Despite the actual odds of winning being infinitesimal, ridiculous, even, it's 100% possible that the person COULD win and that outweighs any statistical analysis of cost/benefit with regards to playing.

It's made worse by small winnings for people who play often-- $3 here, $5 there. If you hit a $25 win, that's "getting closer" and the faith is renewed to keep pumping money into the hell that is playing lottery. It's what keeps them coming back, even though the math shows that statistically speaking, it's a poor investment and more money goes in than comes out for like 99.999999% of people.

For those unencumbered by gambling addictions and who never enjoyed going to Vegas, like me, it's a middle-class gambling tax and a stupid form of entertainment for a couple of days. This last weekend I sank $20 into tickets...$10 on state lotto and $10 on Powerball. It had been almost 2 years since my last ticket purchase, but, I played knowing that for my exorbitantly expensive entry fee, given the odds, my life *could* change, but really it was just another contribution to "the system" - part of it will go to our state in the form of schools, roads, public assistance, and maybe the other 50%-60% will go to the winning pot. You know, since I don't hand out money on the street, the expense of the ticket really doesn't bother me given how infrequently I play.

[rigz]

Today I stopped in a convenience store for the first time in years to pick up a pack of gum after an overly spicy lunch.
The guy in line in front of me was the stereotypical lottery player. He bought 4 packs of Paul Malls, 2 eight packs of 20oz budweiser, and about 8-12 ($5-10 each) scratch off tickets. Honestly, I was pretty proud he paid that $120 in cash!
.

Don't you have to buy lotto tickets with cash?

To the OP: seriously? You can't figure out why people buy lotto tickets?

[ua_guy]

Don't you have to buy lotto tickets with cash?

To the OP: seriously? You can't figure out why people buy lotto tickets?

It seems obvious, but people have some pretty specific reasons.

I was joking about the odds with someone the other day--all the various calculations of what is statistically more likely, things like getting struck by lightning, twice, randomly, on the same day, etc.

This particular guy who buys into a pool at work told me he knows what the odds are, but he contributes anyway because if his pool of coworkers strikes the jackpot, he doesn't want to be the only one left behind!!

[QuarterMillionMan]

Lottery, gambling, sports betting, I'll admit that I play and I play often. Of course I'll only use discretionary money and never use money earmarked for necessities (ie, rent, groceries, etc.), savings, retirement (max'ing out both my 457 and Roth IRA), no debts, keeping a 15 month emergency fund, etc. These pictures aren't necessarily lottery but I consider it in the same category.

[NetSkyBlue]

This is no different to me than asking "why do people pay for $4 coffee" "why do people pay $10 to see a movie" - you had money, and you spent it, and you don't have any "thing" to show for it. Presumably, it's because it's fun.

[Bob B.]

I can't believe I'm entering another debate about the lottery...

For middle class folks who play occasionally, and spend maybe $5 or $10 per week, or much less, it may be a form of entertainment. That's fine, no problems. I waste money on other forms of entertainment.

But I think the vast majority of lottery players are poor. They are very poor. And for them it's a fantasy, a form of escape, that in most cases is pathological. And, make no mistake, the State is the winner.

I have absolutely no use for the lottery. It's nothing but a nuisance when I'm standing in line at a gas station or convenience store, and someone wastes my time and their money choosing scratch offs, or picking numbers.

But the worst part, again, is that most of the players are spending money they do not have, to escape for a bit, and the State skims the profits off the top. It's State sponsored, legalized gambling, and a regressive tax.

End rant, but this is a hot button topic for me.

[disneysteve]

But the worst part, again, is that most of the players are spending money they do not have, to escape for a bit, and the State skims the profits off the top. It's State sponsored, legalized gambling, and a regressive tax.

I don't disagree Bob, but I'm curious how you feel about casinos which are also state-sponsored, legalized gambling.

[Bob B.]

I guess, in my mind, the difference between the lottery and a casino is like the difference between drinking at home, alone, and drinking at a bar.

There's a social aspect, and atmosphere at a casino that makes it a fun place to be. Not so much with lottery tickets.

I suspect you can lose a lot more money a lot more quickly at a casino, as compared to playing the lottery, much like at a bar, as compared to drinking at home.

You can find alcoholics drinking alone at home, and you can find alcoholics at a bar. While someone might enjoy drinking a beer while watching a baseball game alone at home, and hold it to a beer or two. Likewise, social drinkers can drink without getting drunk at a bar.

People can play the lottery problematically, and/or gamble problematically. People can play the lottery responsibly, to have fun, people can gamble at a casino a few times a year, win some , lose some, and have fun.

But, as a whole, I see casinos as a negative. People get addicted to gambling, people go bankrupt gambling, and (I think) crime increases around casinos.

Likewise, people get addicted to alcohol, people can go bankrupt when they drink too much, lose a job, destroy a family, etc.

But, I don't think bars and alcohol should be outlawed. Prohibition didn't work too well. And I don't think gambling and lotteries should be outlawed either.

But, please allow me to bitch when someone holds up my line buying scratch offs!

[disneysteve]

I guess, in my mind, the difference between the lottery and a casino is like the difference between drinking at home, alone, and drinking at a bar.

There's a social aspect, and atmosphere at a casino that makes it a fun place to be. Not so much with lottery tickets.

One thing that is often overlooked, which I always like to point out, is the odds. The odds at a casino are phenomenally better, even on the worst games, than they are on the lottery. And on the best games the odds are very close to even. The house advantage on blackjack (if you know what you're doing) is less than 1/3 of 1 percentage point. I can sit at a blackjack table betting $25 every minute or two and walk away 2 hours later even or up a little or down a little 2 hours later. Most of the time, it's cheap entertainment.

[QuarterMillionMan]

I play because of times like this;



And this;


And this;

[Bob B.]

One thing that is often overlooked, which I always like to point out, is the odds. The odds at a casino are phenomenally better, even on the worst games, than they are on the lottery. And on the best games the odds are very close to even. The house advantage on blackjack (if you know what you're doing) is less than 1/3 of 1 percentage point. I can sit at a blackjack table betting $25 every minute or two and walk away 2 hours later even or up a little or down a little 2 hours later. Most of the time, it's cheap entertainment.

Yep, I understand and agree that odds are much better at a casino than the lottery. I can count on one hand the number of times I've been to a casino. I have been to them before, and have had fun. But, I've also felt that sort of zombie, just one more pull and I'll hit the jackpot feeling, too. I think lifetime, I'm up about $30 at casinos.

I don't really have a big problem with casinos, but as I said above, just as alcohol can become addictive, cause bankruptcies and divorces, so can casinos.