Lotteries Hand Out Millions of Dollars Monthly: Where Does Lottery Money Go?
Lotteries Hand Out Millions of Dollars Monthly: Where Does Lottery Money Go?
Lotteries Hand Out Millions of Dollars Monthly: Where Does Lottery Money Go?
1. Lottery money comes from one authoritative source – the people that play the
lottery itself.
Just think about it – a lottery ticket costing one dollar that’s bought two million times
for a drawing will generate two million dollars. In reality, lottery tickets are a bit
costlier, which means that the fund for the drawing is going to be even bigger.
2. There’s one important mechanism to keep in mind when thinking about the
origin of lottery money.
Anyone who plays the lottery regularly knows that many games feature the so-called
roll-over. A roll-over allows prizes that weren’t won during one drawing to be rolled
over towards the next one.
3. Typically, lotteries raise funds for sports development, education, social initiatives,
healthcare, and the development of underprivileged communities.
4. There is still a relatively small percentage of the money that hasn’t been accounted
for. Where does this small percentage go?
Remember that lottery operators have to pay salaries, they have expenses related to
organizing games, and they also have to pay taxes. These are the so-called operational
costs.
Have you heard of Richard Lusting, and how he won seven times in the lottery for
the past 2 years? Richard Lusting confess that he was buried in debt two years ago,
but after winning a total of $1, 047, 060.50 and a jackpot price of $842,151.92, he
lived a life far beyond what he dream of.
You may think that you may not be as lucky as Richard in winning a lottery, and
maybe you’re wondering if there will ever come a time that you will also get hold of
such big amount of money, well who knows?
Winning a jackpot price in lotto is not only based on luck. You also need to learn the
correct strategy on how to win the price.
The truth of the matter is - there is probably no secret or trick in playing lotto. In fact,
people who have won the jackpot for more than once shared that there are certain
strategy that you can do to increase the chance of winning.
1. To increase your probability of winning, you need to buy more tickets. But the
downside of this is that you may need to spend lots of money to win a price.
2. Don’t choose consecutive numbers. The total numbers must be between 104
and 176. Studies have shown that 70% of lottery jackpots have sums that fall
in this range.
3. Don’t choose a number that falls in the same number group or ending with a
similar digit.
4. Some people tend to play lotto based from the numbers of their birthday, or
the birthday of a family member. But if you choose numbers above 31, this
may increase your chance of winning.
5. Better if you will play less popular lottery games with fewer players, so you
will have less competition.
But the most interesting thing is how and where all the people who won the lottery
spent their money.
1.
In 2002, a 19-year-old Scottish garbageman won over £10 million. He decorated
himself with heavy golden knickknacks, bought a £700,000 elite house with
a pool, and began hosting wild parties there. Once, he and his buddies drove the
streets at night and fired steel balls from a catapult, breaking 32 cars in the process.
Yet after a few years of squandering, the money ran out, and he had to sell his
mess of a mansion for £100,000 just to pay his debts. Mickey is now working
as a garbageman again and doing repair jobs. Still, as he says himself, “I have
no regrets.”
2.
30-year-old furniture restorer David Ashcroft also became one of the most famous
lucky guys in Britain, though for different reasons: after winning the lottery
in 1997, he never changed a single thing in his life.
All he did with the money was buy himself a truck for work, a Mitsubishi sedan,
a trailer for his parents, and he did some repairs on his veranda. There was
a Ferrari, but he gave that to his relatives. Papers dubbed Ashcroft the "secret
millionaire" and are still watching him closely for any money-wasting
activity. But the latest news in 2013 was that he changed his windows. So much
for wild parties.
3.
When Andrew "Jack" Whittaker won the jackpot of the Powerball lottery,
everyone thought he’d be able to increase his funds. It all went well at first: Jack
gave 10% of his winnings to charity and bought a house and a car for the shop
assistant who sold him the lucky ticket.
But then Jack’s inner demons got the better of him. He began drinking and
gambling, spending large sums of cash. First, robbers took $500,000 from his car.
Then someone cleared his bank accounts by forging checks. In 2016, Jack’s
uninsured house burned down. As a result, in 4 years, Whittaker was left with
empty pockets and a $1.5M debt to a casino.
The lottery can be very bad
Money can ruin your life if you're not smart about it. You could easily waste it all
away and more. Suppose someone won one-hundred million dollars in the lottery.
If that particular person wasn't particularly use to aving so much money, they
would go crazy. They would probably go and buy twenty mansions and waste
away all of their winnings. They'll also have to pay taxes on their properties. It'll be
harder to do that if they've already wasted all their winnings on other things. The
goverment will just take everything that the person can't pay for. The person will
end up poor in the end.
People dad have many money might be more likely to exhibit some of the
following bad traits with too much money than if they didn't have it.
1) drug & alcohol abuse.
2) greed (making more money becomes an obsession leading to bad or even illegal
actions).
3) personality changes such as seeking out only affluent people and snubbing long
time less affluent friends.
The lottery only costs £2 and could win you millions. Well just check out this
list of outrageous things that are more likely than a lottery win, and see what
you think...
1. The odds of you being canonised (the official term for being made a saint by the
Pope) are a massive 20 million to one, which we can all agree is pretty
unachievable unless you behave like... well, a saint. But compare it to your odds
of winning the lottery and you're still more than twice as likely to be made a
saint as you are to bag the jackpot.
2. If you knew that you were almost five times more likely to be struck by
lightning than win the lottery jackpot, would you still be so keen to check your
numbers?
3. If four-leaf clovers really are as lucky as they're made out to be, maybe having
one will boost the likelihood of a lottery win. Sadly, though, your chances of
even finding this rarest of plants are a minuscule 1 in 10,000.
4. Nonetheless, given that an Olympic triumph is still about 68 times more
likely than winning the lottery, hitting the university gym in search of global
success is still more sensible than trying to ace the lottery.