I do not play the lottery.
My number one reason why: my parents have played (nearly) every week (or every other maybe) for my entire life (possibly) and though they each buy (probably at least) one ticket and pick (maybe) REALLY great numbers (maybe not)...they still do not win.
It's a fact-not a criticism....but mostly-an explanation of why I don't play.
Let's say that the information I have is accurate (which it might not be)....doing some quick fuzzy logic math:
Avg spent a week on lotto: $10 (totally guessing)That's a fair amount of money. Invested across 30 years at blahblah interest rate, they could have saved blahblah dollars!!! I have no real grasp of the concept of figuring out interest rates and saving and such---but I'm sure that invested properly over the years, $13,200 would be a lot more than $13,200.
# of weeks in a year is 52, but let's say they missed 8 wks...so 44 wks.
And I'm 34ish....but let's say they missed a few years....so we'll say 30 yrs.
That comes out to $13,200 (i think)
I appreciate that they have spent this money if only for the fact that it makes me very hesitant to ever play the lotto.
HOWEVER - I will/do play bingo because the odds are better (fairly certain)
Here's some boring facts for you that reinforce my theory that I will win bingo before they (or most people who play) will win the lotto.
- single state lotteries usually have odds of about 18 million to 1 while multiple state lotteries have odds as high as 120 million to 1.
- those earning incomes less than $12,400 spend an average of $645 on lotteries each year
18 million to 1?? That's insane.
There is no bingo hall in the world that will fit 18 million people, and just by that number alone means that I have better odds.
I think on a typical night of bingo, there is probably (totally guessing again) about 100 people in the bingo hall. (I'll do a quick headcount next time I go to confirm this)
On EVERY single bingo game that is played during the night, at least one person must win.
I am no math wizard (not really even close) but I am pretty sure that this puts my odds of winning at 1 in 100 (assuming there are 100 people).
Those are good odds, right??
So when I think about gambling (which, yes, I acknowledge bingo IS) - I weigh the costs of losing money vs the realistic chance I will win (1 in 100 people!!!) vs how much fun I have.
I personally don't find it fun to pick the lotto numbers and check to see if they won later. The entertainment value is down, chances of winning are down.
Compared to bingo: it's a social event (for me, not for the mean old ladies). I can go there for 3.5 hours, hang out with friends, chat and laugh and make fun of mean old ladies (quietly of course) and only spend $12 (though typically I spend $20).
However.....bingo has gone high-tech on me and has plummeted my odds.
For those of you who don't frequent the bingo club, let me give you some insight---they have electronic machines which you rent there. On the machines, you can play 30 games at ONE time (where I'm from, we call that "Cheating"). I think the max you can play is 100 games at one time. You just put all your money down up-front and have them preload the games for you. So while there might be 100 people in the bingo hall, 50 of them might have machines (cheaters) with an average of 50 games on each machine, that means that every bingo game I play, my odds went from 100 to 1, down to ....well, down. (way down)
I'm not sure I can even do the math on that one.
Seriously, it's hurting my brain to try....so we'll just say it's much less than 100 to 1....
HOWEVER---it (must be) still better odds than the state lotto games.
Could someone do that math for me just to verify?
And I'll go buy my lotto ticket just in case I'm wrong on that...
And on Wednesday night, I'll be at the bingo hall. Because it's my turn to win. And I have grand
plans on how I will disperse all my riches.