The National Lottery - a tax on the stupid.

Discuss.

1 to 20 of 37 messages
06/08/2012 at 20:01

The odds of winning a tenner on the lottery are 1:56. The odds of winning the jackpot are 1:14,000,000. It appears to be a tax on the stupid.

Discuss. 

06/08/2012 at 20:07

It's not a tax because there's a chance you'll get something back.

06/08/2012 at 20:33

Ernie chose two of my premium bonds this month

06/08/2012 at 20:35

Maybe you should discuss it with some of the multi millionaire winners Notts...

06/08/2012 at 20:44

The odds are irrelevant in some respects. The jackpot will be won by somebody eventually.

06/08/2012 at 20:46

And I still have those two bonds, to go into the next draw

06/08/2012 at 20:49

The problem is that some people spend a tenner a week on it in the belief that they WILL win. Then you hear them complaining a few days later that they're struggling to make ends meet.

06/08/2012 at 20:59

Notts...i actually agree with you..I've never done it...and thus am probably at least £52 a year up on those that do!

06/08/2012 at 21:06
Stevie G . wrote (see)

Notts...i actually agree with you..I've never done it...and thus am probably at least £52 a year up on those that do!

Good lad! 

UFO
06/08/2012 at 21:14

I only buy a ticket when the prize is £100 million or more. £2-3 million is just not enough

UFO
06/08/2012 at 23:09

I'll save my quid. At least I'll be £52 a year richer. 

07/08/2012 at 00:01
It's not a TAX, you don't have to pay it.

It does take advantage of people though. ??1 on a 56:1 shot to win ??10 makes no sense. I'm fairly sure if you want, you can get proper odds in a betting shop on the Irish lottery.

Generally people don't understand statistics or percentages and just see the big numbers.

How many tickets are sold on a normal week?
seren nos yn canu    pirate
07/08/2012 at 05:38
You ate paying your pound for the right to dream.......when life us shit you can at least play the game of if I win I will do this..........but you only need one pound to play.....people do get carried away....but that must be thrift nature.....if it wasn't lottery it would be alcohol or something else addictive
07/08/2012 at 09:22

I buy a ticket now and then.  It let's me play the "when I win the lottery" game.

The lottery made gambling less 'seedy', as you don't have to go into a bookies to play, but these days if it weren't the lottery it would be on-line poker or some such.

Fools and their money are soon parted.

07/08/2012 at 10:26

It's a very good indication that a lot of people haven't got a clue about statistics.  The most obvious indication is when there's an octuple roll-over and all of a sudden more tickets are sold.  So because you've got a 14,000,000:1 chance of winning more money than you'd know what to do with, compared to a 14,000,000:1 chance of winning a different amount of money you wouldn't know what to do with - with the added attention of the tabloid press - you're more likely to buy a ticket.  Yeah, that makes sense!

Of course, psychologists or economists (or psychological economists?) may talk of the abstract concept of utility being enjoyed simply by taking part, since you've got to be "in it to win it", and maybe the element of hope gives genuine positive feeling in itself.  (Bit like religion.)  I still don't play it though.  Mug's game.

07/08/2012 at 13:52
Nick Windsor 4 wrote (see)
.... they should not have free money, as it all seems to go on tattoes cigs and gambling.

What other headline has the Daily Mail got today?

Edited: 07/08/2012 at 13:52
07/08/2012 at 15:23
Wilkie wrote (see)

I buy a ticket now and then.  It let's me play the "when I win the lottery" game.

Tsk Wilkie. From a fellow grammar pedant I would expect far better apostrophe control than that. Go to the back of the class.

07/08/2012 at 16:45

If you don't want to play, don't play.

Tonight £148M is on offer. I played. Too big a pot not to, however small the chance of winning.

07/08/2012 at 16:56

Not sure where you are coming from with a tax angle, the lottery is total personal choice, actually just like tattoos, cigarettes and booze.  Don't like them don't do them.

K80
07/08/2012 at 18:44
Notts Runner wrote (see)

The odds of winning a tenner on the lottery are 1:56. The odds of winning the jackpot are 1:14,000,000. It appears to be a tax on the stupid.

Discuss. 

No more than those of us who enter 5k, 10k, HM or marathons with absolutely no chance of winning.

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