General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCould someone explain why this wouldn't work?
Instead of one or small group of individuals winning this obscene $540 million dollar Mega Millions lottery; why couldn't 540 set of numbers be drawn and add 540 new millionaires to the economy?
Ot nationalize a lottery with similar results?
onenote
(42,685 posts)as for a $540 million payout. Remember, the lottery brings in way more than it pays out, so you need a big prize to maximize the amount paid in.
Lydia Leftcoast
(48,217 posts)Oregon has self-service lottery machines, and once I was in a store with such a machine when a shabbily dressed man came in and asked no one in particular, "What's the jackpot today?"
When he heard that it was "only" $1 million, he said, "Forget it then" and walked out.
But when the jackpot goes up into the hundreds of millions of dollars, they'll do dumb things like buy $100 worth of tickets that they can't afford, not realizing that this hardly lowers their odds at all, certainly not enough to ensure even a minor win.
HowHasItComeToThis
(3,566 posts)B S
lastlib
(23,204 posts)A major rip-off--AIMED AT POOR PEOPLE who are deluded into thinking it's a way out of poverty.
bowens43
(16,064 posts)lastlib
(23,204 posts)that it instills false hope in people, many of whom cannot realistically afford to throw money away by playing it.
Lotteries are also inherently undemocratic. They allow one person (or a small number of people) to become instant millionaires by sheer chance, without doing anything to earn that wealth by skill or merit. They take money from many (mostly poor or lower- to middle-income) to enrich a few for no other reason than luck of the draw. This goes against everything that a liberal democracy should stand for.
nykym
(3,063 posts)1 in: 175,711,536
from NY State Lottery site.
You'd have a better chance of getting hit by a '49 Studebaker Champion crossing the street in front of your own home.
LadyHawkAZ
(6,199 posts)"the same as being mauled by a polar bear and a regular bear in the same day".
These days, when the SO and I discuss things we want but can't afford, we refer to that future purchase as "when we get mauled by the bears".
slampoet
(5,032 posts)....but because they were good teachers they showed me the numbers why. Thanks teaches.
lastlib
(23,204 posts)Hell, they would vote 'em out of existence so fast it'd make your head swim!
EOTE
(13,409 posts)But that just means that their odds have gone from .0000000001% to around .00000001%.
Lydia Leftcoast
(48,217 posts)It's not enough to make a difference, but you'll never convince them of that.
A HERETIC I AM
(24,365 posts)The only reason it has grown this large is because winning it is an exceedingly rare event. Also, the likelihood that there will only be one winning ticket dinishes when jackpots get this large because of the much higher number of tickets that will be sold.
I bought tickets in Georgia and if I happen to win and take the cash (which I would), I will pay 41% right off the top, as Ga has a 6% income tax added to the 35 % the treasury will take. If the cash option is $359 mil, I would get roughly 212 mil IF I am the sole winner. Not likely at any case.
lastlib
(23,204 posts)...gives them to a few without requiring any contribution other than the good luck to have chosen certain numbers.
MissMarple
(9,656 posts)But, then, I really don't know why people would participate in Survivor let alone watch it.
GopperStopper2680
(397 posts)540 new 1 million dollar Goppers? Think about it? Where are they going to go when they get that one million each. To the party that protects rich pricks!
boxman15
(1,033 posts)Just like not all poor people are Democrats. (Which makes no sense, but I digress)
EC
(12,287 posts)and there was a line of us waiting and talking (this is WI, our primaries are next Tues) so I said it's at the amount one of us could be as rich as Romney tomorrow night...everyone laughed. But after that people started talking about how richy Rich he is and out of touch...either they were all Dems or he isn't fitting well even with repubs.
lastlib
(23,204 posts)You threw away a dollar--I didn't; at this rate, I will probably become a millionaire before you do.
(But just in case you win....: )
GreenStormCloud
(12,072 posts)The whole idea is to sell as many tickets as possible so the government can get more money. Lower jackpots get fewer players. Personally I don't play at all. I have read what a wreck winning makes of the lives of winners.
Nikia
(11,411 posts)I think that in lotteries early days, you had a better odds to payout ratio. Maybe it just seems like it these days though.
In a way, I think that it is strange to have jackpots over 10-20 million dollars because most people who grew up poor or middle class literally don't know what to do with that kind of money.
Motown_Johnny
(22,308 posts)such as you describe
Mega Millions is, well.... Mega Millions. It requires huge payoffs to justify spending money on a 1 in 176,000,000 chance of winning.
Zalatix
(8,994 posts)Spot on, thanks.