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The lottery and social despair in America

dimensionallava

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The lottery is up to a record breaking jackpot did you buy a ticket?

This mania, so generally condemned, has never been properly studied. No one has realized that it is the opium of the poor. Did not the lottery, the mightiest fairy in the world, work up magical hopes? The roll of the roulette wheel that made the gamblers glimpse masses of gold and delights did not last longer than a lightning flash; whereas the lottery spread the magnificent blaze of lightning over five whole days. Where is the social force today that, for forty sous, can make you happy for five days and bestow on you—at least in fancy—all the delights that civilization holds?
Balzac, La Rabouilleuse, 1842

The jackpot in the US Powerball lottery has hit $800 million, since there were no winners in Wednesday’s drawing. In the current round, which began on December 2, over 431 million tickets have been sold, a figure substantially larger than America’s population.

Go into any corner store in America and you will see workers of every age and race waiting in line to buy lottery tickets. With the current round, the lines are longer than ever. Americans spend over $70 billion on lottery tickets each year. In West Virginia, America’s second-poorest state, the average person spent $658.46 on lottery tickets last year.

Powerball players pick six random numbers when they purchase their tickets, with a certain percentage of sales going to the jackpot. If no winning ticket is sold, the jackpot rolls over to the next round.

The totals for the Mega Millions and Powerball national lotteries have been growing every year. This year’s jackpot has eclipsed 2012’s record of $656.5 million, the $390 million payout in 2007 and the $363 million prize in 2000. The jackpots have grown in direct proportion to ticket sales.

State-run gambling programs such as Powerball have been promoted by Democrats and Republicans alike as a solution to state budget shortfalls, even as the politicians slash taxes on corporations and wealthy individuals and gut social programs. From the standpoint of government revenue, lotteries and casinos are nothing more than a back-door regressive tax, soaking up money from the poor in proportion to the growth of social misery.

The boom in lotteries is global. Lottery sales grew 9.9 percent worldwide in 2014, after growing 4.9 percent in 2013.

Psychology Professor Kate Sweeny has noted that lottery sales grow when people feel a lack of control over their lives, particularly over their economic condition. “That feeling of self-control is very important to psychological well-being,” Sweeny says.

There is ample reason for American workers to feel they have no control over their lives. According a recent survey by Bankrate.com, more than half of Americans do not have enough cash to cover an unexpected expense of $500 or more—roughly the price of four name-brand tires.

Some 62 percent of Americans have savings of less than $1,000, and 21 percent do not have any savings at all. Most Americans are one medical emergency or one spell of unemployment from financial ruin.

The lottery and social despair in America - World Socialist Web Site
 
I have purchased two tickets for this jackpot and if I win I'm getting new carpet!
 
I never play the lottery because it's a scam that targets poor, desperate people and the odds just aren't worth it. But I will admit to buying a ticket just this once, if anything just for fun so I could fantasize for a day what I would do with $900 million that suddenly fell into my lap.
 
I never play the lottery because it's a scam that targets poor, desperate people and the odds just aren't worth it. But I will admit to buying a ticket just this once, if anything just for fun so I could fantasize for a day what I would do with $900 million that suddenly fell into my lap.

You would give over half of it to uncle sam.

Don't you love this tax system!
 
The lottery is up to a record breaking jackpot did you buy a ticket?



The lottery and social despair in America - World Socialist Web Site
Yes, I did!

Four tickets - one for each immediate family member, save for the dogs. But I usually buy a ticket every week, so buying four was a splurge of sorts.

My immediate needs are pretty modest; I'd pay-off the mortgage. Besides that, we already have all the basics we need satisfied. I'd consider popping out maybe a 100K into my checking account, and then sit on everything else for six mos in order to get some perspective.

In the most excessive case, I would only live off the interest and investment income, preferring to conserve and grow my capital.

And most importantly! I'd firstly incorporate and receive the winnings anonymously! I wouldn't tell anyone, not even my family, not even my kids! Like these guys:

Chicago Tribune: The secret millionaires next door

BTW - It's up to 900K now!

Source: USAMega.com
 
The lottery isn't political. Stop it.

I bought a few tickets. I know it's an astronomical chance, but what the hell? It's a few dollars every so often. I probably spend a total of $50 a year on the lottery...hardly a microcosm of social despair. I spend far more on more ridiculous things.
 
The lottery isn't political. Stop it.

I bought a few tickets. I know it's an astronomical chance, but what the hell? It's a few dollars every so often. I probably spend a total of $50 a year on the lottery...hardly a microcosm of social despair. I spend far more on more ridiculous things.

You're right, it has more to do with economics as it provides revenue for the government.
 
You have to be stupid if you're one of those people that spends hundreds, if not thousands of dollars on lottery tickets every year. I see this **** every time I stop at a gas station in a poorer area, these idiots really think that one day they will strike big. I have no sympathy for that.
 
I never play the lottery because it's a scam that targets poor, desperate people and the odds just aren't worth it. But I will admit to buying a ticket just this once, if anything just for fun so I could fantasize for a day what I would do with $900 million that suddenly fell into my lap.
The lottery, like gambling, is what you make of it. I see nothing wrong with using it as a harmless diversion.

I buy a ticket every weekend, and give it to my wife. She hangs on to it talking about the new additions she'd do to our house.

She gets happy for a few moments over this, and gets excited watching the drawing on TV. And I'm happy seeing her excited. Definitely worth a couple bucks to me!

Then there's these guys:


 
I bought one ticket because that is all you need. :) Gosh the jackpot is so huge......I wouldn't know where to start. I guess probably paying taxes on all the money.
 
You have to be stupid if you're one of those people that spends hundreds, if not thousands of dollars on lottery tickets every year. I see this **** every time I stop at a gas station in a poorer area, these idiots really think that one day they will strike big. I have no sympathy for that.

Well, there's the problem. Who cares about those who "contribute" $50-$100 per year. It's those who pour a lot of money into something with such astronomical odds.

Unfortunately the promise of "free stuff" with little-to-no cost is too addicting for some. Hell...that's what got Obama elected.
 
I have purchased two tickets for this jackpot and if I win I'm getting new carpet!

Greetings, Lutherf. :2wave:

With that jackpot, you could carpet every inch of your State! Of course, you'd have to post signs requiring all tourists to remove their shoes - the natives would already know to do that! :lamo
 
Chill out.

I've never bought a lottery ticket in my life...only gambling I've done is local raffles to support some cause.

However, people enjoy the entertainment, dreaming, fun of it all. We all spend money of non necessities in life from an ice cream to a ride on a roller coaster to a concert ticket.

In an odd way something like this latest mega lotto actually creates some bonding among Americans that is about hope rather than a negative....a bit like the Oscars, Super Bowl, etc.
 
I have purchased two tickets for this jackpot and if I win I'm getting new carpet!


I don't know about there, but here almost every large jackpot winner ends up in bankruptcy and/or homeless . They go on such a spending spree the money runs out between five and seven years.


I hope you lose, friend
 
The OP is nonsense from the very beginning. Yes, this has been studied extensively and for ages. Gambling, and the thinking associated has been with us as long as the world's oldest profession. Pick ANY time period in human history and there was a fellow letting his future ride on a wager.
 
Yes, I did!

Four tickets - one for each immediate family member, save for the dogs. But I usually buy a ticket every week, so buying four was a splurge of sorts.

My immediate needs are pretty modest; I'd pay-off the mortgage. Besides that, we already have all the basics we need satisfied. I'd consider popping out maybe a 100K into my checking account, and then sit on everything else for six mos in order to get some perspective.

In the most excessive case, I would only live off the interest and investment income, preferring to conserve and grow my capital.

And most importantly! I'd firstly incorporate and receive the winnings anonymously! I wouldn't tell anyone, not even my family, not even my kids! Like these guys:

Chicago Tribune: The secret millionaires next door

BTW - It's up to 900K now!

Source: USAMega.com

Yeah, we bought a few. Don't really buy them until the winning get to be around $400M or so. Don't really care if that reduces my chances or not.

I would only live off the interest and investment income, preferring to conserve and grow my capital.

And most importantly! I'd firstly incorporate and receive the winnings anonymously! I wouldn't tell anyone, not even my family, not even my kids!
Most whole heartily agree. Although, I think we'd have to tell the kids. With my wife and I not working anymore, they'd think something was up.

One thing for sure, paying those exorbitant college tuition fees would be easier!
 
Yeah, we bought a few. Don't really buy them until the winning get to be around $400M or so. Don't really care if that reduces my chances or not.


Most whole heartily agree. Although, I think we'd have to tell the kids. With my wife and I not working anymore, they'd think something was up.

One thing for sure, paying those exorbitant college tuition fees would be easier!
I'm serious though, I wouldn't even tell the kids.

"I made a few good investments", would be all they need to hear!

BTW - Been there with universities, and only got one left to put through!
 
I don't know about there, but here almost every large jackpot winner ends up in bankruptcy and/or homeless . They go on such a spending spree the money runs out between five and seven years.


I hope you lose, friend

I guess it's all about how you handle it. Yes, there are some winners for whom it's the worst thing to happen in their lives. Others, not so much.

As Chomsky pointed out, and I agree, stash the vast majority of it with the financial adviser / broker / whatever, and only live off of the dividends / interest / whatever.

Also wise council is to have your lawyer pick up the winnings, and not disclose your identify, unless confidentiality is guaranteed. No need to put a huge bulls eye on your back for every huckster to come and try to take their bite out of you.
 
Not me - I am going to play lottery professionally from then on. When (**** if!) I win I am going to buy more lottery tickets than anyone else ever did, get in the record books and win me some more! ;)
 
I have purchased two tickets for this jackpot and if I win I'm getting new carpet!

Not me - I am going to play lottery professionally from then on. When (**** if!) I win I am going to buy more lottery tickets than anyone else ever did, get in the record books and win me some more!
 
I don't know about there, but here almost every large jackpot winner ends up in bankruptcy and/or homeless . They go on such a spending spree the money runs out between five and seven years.


I hope you lose, friend

Indeed that's the case. Largely because the winners don't have the training or tools to handle wealth. Not to mention, most of them give at least half the prize money away at the onset by choosing the "one big payout" option rather than take it in payments over 30 years.
 
I guess it's all about how you handle it. Yes, there are some winners for whom it's the worst thing to happen in their lives. Others, not so much.

As Chomsky pointed out, and I agree, stash the vast majority of it with the financial adviser / broker / whatever, and only live off of the dividends / interest / whatever.

Also wise council is to have your lawyer pick up the winnings, and not disclose your identify, unless confidentiality is guaranteed. No need to put a huge bulls eye on your back for every huckster to come and try to take their bite out of you.



We have a crown-owned corporation that runs all lotteries. They provide that kind of counsel with all winners over a certain amount and the article i read said every one of them said "not me" and all but one of them ended up broke.

I suspect you or I may have more self control and leave the largest portion in investments and live off the interest....
 
I don't know about there, but here almost every large jackpot winner ends up in bankruptcy and/or homeless . They go on such a spending spree the money runs out between five and seven years.


I hope you lose, friend
Well, considering it's not too hard these days to go bankrupt or become homeless (in America, we're all only one major health-problem away), may as well go out in a blaze of glory! :thumbs:
 
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