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Man, lottery is the biggest scam ever!

A

Argo

Lifer
First, if I'm not mistaken the winning pool is only 80% of the total sales. In other words, if $100 million worth of tickets has been sold, the prize money will be only $80 million.

Then, the government gets to tax you on the winning, so out of the afore-mentioned $80 milliong they get around $25-30 back... Not a bad deal.
 
Originally posted by: Babbles
Um ... congrats in finally realizing this?
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I always knew it was the scam, but this is the first time I did the math. You don't even have to invest much. No wonder they don't allow private parties to run lotteries.
 
Actually, Social Security is the biggest scam out there.

Both government run, coincidence? I think not.

</flamebait>
 
Lottery=legalized gambling. Your chances of winning are slightly above nil and there are people making loads of money off your contributions.
 
Originally posted by: JulesMaximus
Lottery=legalized gambling. Your chances of winning are slightly above nil and there are people making loads of money off your contributions.
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Most of the money the government takes in goes back to the states.

Helps pay for new schools and such so keep your hopes up. 😀
 
Originally posted by: Chompman
Originally posted by: JulesMaximus
Lottery=legalized gambling. Your chances of winning are slightly above nil and there are people making loads of money off your contributions.
Click to expand...

Most of the money the government takes in goes back to the states.

Helps pay for new schools and such so keep your hopes up. 😀
Click to expand...

I still buy a lottery ticket every now and then with the hopes of winning. Even though my chances of winning are almost zero.
 
It started in harlem (well the closest to modern form of it) as the "number's racket." It was picked up by the mob and slowly became so big that states began to instigate legal ones themselves (if you can't beat em').

no direct link sorry
 
I think you're wrong, only about 50% of the lottery's receipts are returned in winnings. A small percentage covers operating costs, and as has been pointed out, the remainder goes to cover social programs. In PA it benefits "Older Pennsylvanians," who ironically also happen to be the biggest players of the lottery. The odds of winning are freely available, often on the back of the card you fill out with your numbers, so I don't feel sorry for anyone who loses money playing the lottery. I look at it as a voluntary tax on people with poor math skills. It is not a scam.

And buying a couple of tickets when the pot is really big does not make you an idiot, either. Pissing away your life savings, or failing to save money at all because you spent it all on the lottery makes you an idiot.
 
I wish I grew up in one of the states that used the lotery to put people thru college that is one of the best ideas ever
 
Most of the money I'd hope goes to 'good causes' so it is fine by me.

£1 mill would be enough.

Hell I'd take a few hundred right now 😀 😛

Koing
 
It started in harlem (well the closest to modern form of it) as the "number's racket." It was picked up by the mob and slowly became so big that states began to instigate legal ones themselves (if you can't beat em').
Click to expand...

State-run lotteries have been in existence for thousands of years. They were even used during the American revolution. The "number's racket" was merely one of many, and it certainly wasn't where the lottery started.
 
More people should be playing the lottery! You can't win if you don't play! Buy a dream book, so you can figure out what numbers to play based on your dreams. Get a book that shows you what numbers are due to hit, then dive in big! The more you play, the better your chances!







Because it will help keep my taxes down!
 
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