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Is this too much to spend on the lotto?

Topic closed. 27 replies. Last post 11 years ago by goldrush.

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TN
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Posted: July 1, 2005, 10:04 am - IP Logged

Lately, I'm spending several dollars a day playing either cash 3 and 4, or lucky 5 or powerball....I figure I will spend in excess of $20 this week. I know I will eventually get frustrated and quit but for now I'm having fun.

My income is a $52,000 a year and I do have debts totalling $20,000

If I were to continue with this habit would $20-30 a week be too much?

I hear about problem gambling but I don't know exactly what constitutes problem gambling...are we talking about people going hungry and losing their homes or people with debts...?


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    Posted: July 1, 2005, 10:29 am - IP Logged

    why not open a money market account and use it monthly interest for your lotto budget

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      md
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      Posted: July 1, 2005, 11:17 am - IP Logged

      Thats too much!  You should do the money market thing, go to www.emigrantdirect.com and open up an account.  Spend any lottery money on the larger jackpots that come out 4 or 5 times a year; and above all things, develop a  strategy to come out of debt. 


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        Posted: July 1, 2005, 11:40 am - IP Logged

        Not enough information in your post.

        You didn't say how much you're spending on the lottery on a recurring basis over a longer period. This may just be an initial burst of enthusiasm. Like most people, you might play it for a few weeks and quit for lack of winning, especially you chose to play the mega-lottery games.

        You didn't specify what kind of debt you had, whether it was a student loan, credit cards, or a mortgage, and what amount you were saving towards paying down the debt. In addition to the lottery, you should be looking at all discretionary expenses (cable tv, eating out, vacations, cheaper place to live, etc.) that could be cut to contribute to retiring the debt.


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          Posted: July 1, 2005, 12:12 pm - IP Logged

          I dont think a thousand bucks a year is going to kill you for the entertainment value. You just need to find another way to make serious money so you can pay off your debt. 

            Tnplayer805's avatar - G 14_v78828750_Small.JPG
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            Posted: July 1, 2005, 2:13 pm - IP Logged

            Problem gambling refers to any gambling that goes beyond "normal" bounds of gambling for fun, recreation, or entertainment. Pathological gambling is the inability, over an extended period of time, to resist impulses to gamble. It is often characterized by increasing preoccupation with gambling and a general loss of control. Pathological gamblers often "chase" their losses, feel a need to bet more frequently and in larger amounts, and continue to gamble in spite of the serious negative consequences of their behavior.

            Some warning signs of a gambling problem might include:
            • Looking for the "high" that comes from gambling
            • Increasing isolation from family and friends
            • Declining work performance
            • Neglecting basic needs like money for food and rent
            • Pressuring others for money as financial problems crop up
            • Lying about how money is spent
            • Escaping to other excesses (alcohol, drugs, sleep)
            • Denying there is a problem

            How are you going to win if you don't play?

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              Posted: July 1, 2005, 7:16 pm - IP Logged

              I look at the lottery as my entertainment.........choose to play lottery instead of "designer coffee", or a night out to dinner. I have wondered the same thing as your wondering, but I eliminate things from my normal spending so that money goes to toward a chance to win something..

              Hiding Behind Computerbe vewyvewy quiet, WewHuntingNumbers

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                Posted: July 1, 2005, 7:28 pm - IP Logged

                Lately, I'm spending several dollars a day playing either cash 3 and 4, or lucky 5 or powerball....I figure I will spend in excess of $20 this week. I know I will eventually get frustrated and quit but for now I'm having fun.

                My income is a $52,000 a year and I do have debts totalling $20,000

                If I were to continue with this habit would $20-30 a week be too much?

                I hear about problem gambling but I don't know exactly what constitutes problem gambling...are we talking about people going hungry and losing their homes or people with debts...?

                If you have to ask the question, you probably already know the answer.  Whatever answer anyone else gives you is meaningless.  You are an adult, the responsibility for making those kinds of judgements about your life belongs entirely to you.

                But if you have to publically ask the question, you might want to give some serious silent querying to yourself about what the answer is.

                Good luck,

                Jack

                 


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                  Posted: July 1, 2005, 7:40 pm - IP Logged

                  If he has $ 20,000 in personal debt, it's probably a reasonable guess that the annual interest on that debt exceeds $ 20 or $ 30 per week.  The first priority should be to quit playing the lottery, cut out some other expenses, perhaps find a second job, and reduce the debt to a small fraction of his annual income.

                    emilyg's avatar - cat anm.gif

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                    Posted: July 1, 2005, 7:47 pm - IP Logged

                    If he has $ 20,000 in personal debt, it's probably a reasonable guess that the annual interest on that debt exceeds $ 20 or $ 30 per week.  The first priority should be to quit playing the lottery, cut out some other expenses, perhaps find a second job, and reduce the debt to a small fraction of his annual income.

                    I Agree!                            I Agree!                                            I Agree!

                    love to nibble those micey feet.

                     

                                                 

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                      Tx
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                      Posted: July 1, 2005, 9:17 pm - IP Logged

                      and above all things, develop a  strategy to come out of debt. 

                      and above all things, develop a  strategy to win at the lottery games Pick 3, 4 etc.

                      Good luck.

                      BibleOnline  ParishesOnline  ChristianRadioOnline   MassOnline   Mass

                      "Ten measures of beauty descended to the world, nine were taken by Jerusalem."

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                        Posted: July 1, 2005, 10:21 pm - IP Logged

                        I Agree!

                          dvdiva's avatar - 8ball

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                          Posted: July 1, 2005, 11:35 pm - IP Logged

                          I have NO debt that's why I can afford to play. Also I haven't played since Mega hit 290 so I've been saving alot towards when it does hit big. I think if you are debt free you should think of it as smoking. One or two packs is a normal habit (so 4-8/day) but if you were to smoke 8 packs a day then that's definitely bad.

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                            Posted: July 2, 2005, 9:02 am - IP Logged

                            I have NO debt that's why I can afford to play. Also I haven't played since Mega hit 290 so I've been saving alot towards when it does hit big. I think if you are debt free you should think of it as smoking. One or two packs is a normal habit (so 4-8/day) but if you were to smoke 8 packs a day then that's definitely bad.

                            I'd say 'problem gambling' with the lottery is not a lot different from problem gambling any other way.  When it spills over into the lives of others, steps on their toes, it ought to be considered a problem by the person doing it.  Otherwise it's just a matter of priorities, value judgements.

                            Even if it ends with the gambler sleeping in the gutter.  A person has to be given enough elbow room to make bad decisions and ought to be able to do so without a lot of kibitzing from people who aren't walking down the same path as he is.

                            Same with smoking, drinking, putting a needle in your arm or a C-note up your nose. 

                            With smoking, it bothers almost everyone who doesn't smoke.... so you gotta take it outside to not be a problem.  Or to a place where a lot of people smoke.  But 10 packs or 2 packs a day isn't the measure.... one cigarette or cigar is enough if it's causing a problem for the people around you.

                            As for alcohol, needles, powders, we can all agree they're a lousy choice, but unless the drunk is on the highway or throwing rocks at our houses, it ain't ours business, nor ours to judge whether it's a problem.

                            Jack

                             

                              dvdiva's avatar - 8ball

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                              Posted: July 2, 2005, 9:25 am - IP Logged

                              People who use certain drugs like crack and meth end up being everyone's problem.