Mega Lottery – Mega Rip Off

Categories: Gambling, News

There has been a lot of news the past few days about the $600+ million Mega lottery. If people knew the facts, they would never spend the money. It is crazy to see all of those people lined up with pockets full of cash to buy a chance at winning. Consider the facts:

  • Tax on the poor: The majority of lottery players are low-income and sometimes in deep poverty. Whatever money isn’t used to pay lottery workers and advertising, and winners goes to fund education for middle and upper income kids
  • The odds of winning are 1 in 176,000,000, it is a sucker’s bet
  • Most winners don’t know how to deal with large sums of money end up less happy often facing bankruptcy, divorce, and estranged from family and friends (sourceĀ Foxnews). Reminds me of the phrase “A fool and his money will soon part,” or the more modern rendition “… are soon partying.”