Vicious Circle of Lottery Bets

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Every day people get caught in the vicious circle of lottery bets. It is a sad fact that brings finances of many families into the state of stagnation or even down into the abyss of bankruptcy. Why is this so and what are my personal experiences?

Reason behind betting

There is a very good reason why so many people keep on betting as long as they have some money. This reason is called greed. Some people blame the companies that run lotteries. However, it is hard to blame those companies. They do the same thing as any other company does – try to make profit. The only thing that we can feel angry about is the fact that they make their profit by exploiting people’s dreams and hopes. After all, only a few people do not dream of becoming rich nowadays.

On the other hand, greed of the people participating in lottery is the main cause of all their losses. No one forces them to participate. They do it because of their own choice. Sure, they might feel pressured into doing so by our materialistic society. However, it is their inability to resist and use intelligence to earn money that causes their losses. Chances of winning remain pretty slim even when you purchase ten or even hundred lottery tickets. Also, these chances do not really improve with time. You will always get the same chance at winning the lottery. Some people might argue that the longer (and more often) they do it, the more likely you are to win. Sadly, most of them (probably all) will never win the big time and will always remain in huge loss.

My own experience

Earlier this year, I visited a dentist because I needed two of my teeth repaired. It was an unpleasant experience. Though, I was able to correctly predict the time it will take and the cost. Feeling like it might be my lucky day; I decided to bet on a lottery. It was a bit funny, but I hit 4 prizes with just 8 sets of numbers. The only sad thing about it was that they were all the lowest prizes. So, I only got around 12 Euro out of my bet.

It was a few months later when I emerged on a short betting spree. I moved away from my parents at that time and felt kind of lucky. And I was lucky indeed, but not lucky enough. My betting spree lasted for about a month with total of 8 bets worth some 40 Euro in total. First and the last bet brought me nothing at all (apart from loss). However, all 6 bets in-between yielded me some winnings. Sadly, these were almost always lower than what I put in thus causing me losses of about 15 Euro. That is when I decided to stop betting. It is only normal that I heard a little voice in my head almost the entire following month. Though, I resisted and yelled back at that tiny demon inside my head. Soon, my greed got quiet. If I would continue on my betting streak, I would have certainly lost at least another 60 Euro since then. This way, I saved the money and could put it to better use.

As you can see, my loses were relatively high even despite the fact that I only bought one lottery ticket at a time and won something back most of the time. However, I have witnessed many people spending up to 30 (or even more) Euro at once only to come back and get no ‘refund’. I certainly did not want to become one of them and most of you probably think the same way. So, rather spend your money more wisely and let the lottery tickets come only as an occasional treat or not at all.

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