“Did you get your lottery ticket?”
Most people don’t know this (I didn’t for a good portion of my life), but the lottery was adopted by the state to take even more money out of the pockets of their citizens without adding any new taxes.
A large percentage of revenue from lottery sales goes straight to the individual states they’re sold in. If you’re wondering how many people play the lottery, the answer is in the millions each year, contributing to a multi-billion-dollar lottery market.
They don’t tell us that because it’s just another way for the government to siphon money from our pockets. Lottery data shows that despite the vast number of participants, only a tiny fraction ever see significant winnings.
The odds of winning are one out of 302,575,350.
The odds of getting struck by lightning are one out of 1,000,000.
A person is about 300 times more likely to get struck by lightning than to win the lottery.
If you buy a ticket or a few for the heck of it, that’s cool. Just know where your money is going, how many people buy lottery tickets, and the chances of a return on that money.
While some individuals aim to be professional lottery players, the reality is that long-term success in the lottery is rare. You don’t have to rely on luck to make the money you need. And you can actually position yourself better to be open to “luck” by creating smarter financial strategies.