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Do you think more people play the lottery

Topic closed. 16 replies. Last post 8 years ago by dingo.

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Northern Ohio
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Posted: October 29, 2008, 3:16 pm - IP Logged

In times like these? That is, when the nation is facing a recession? It seems to me that when cash is low, hope can't go anywhere but up, and one good way to hope is to play the lottery. I'm not saying it's right or wrong; but I'd like to know your input on this matter.

Personally, it seems to me that people may have less cash nowadays but they still make the effort to play the lottery, especially the jackpot lotteries. At least in these parts, more and more of the people I know buy tickets to the MegaMillions and Classic Lotto. At a store I used to work that sells lottery tickets, they said their sales actually increased every month for the past six months, if only slightly.

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    Dallas, TX
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    Posted: October 29, 2008, 3:33 pm - IP Logged

    I don't doubt that. With the odds agaisnt each player, someone has to win. I don't play jackpot games religiously, only to put my $1 in for a chance.

      RJOh's avatar - chipmunk
      mid-Ohio
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      Posted: October 29, 2008, 3:34 pm - IP Logged

      I once read there were several items that were recession proof, among them were beer, cigarettes and lottery tickets.

       * you don't need to buy more tickets, just buy a winning ticket * 
         
                   Evil Looking       

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        Northern Ohio
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        Posted: October 29, 2008, 4:13 pm - IP Logged

        I once read there were several items that were recession proof, among them were beer, cigarettes and lottery tickets.

        I've heard this as well. I've heard several financial experts say that in times of recession, always invest in the vice industry. I.e. beer/liquor manufactorers, casinos, prophylactics, etc.

        Too bad lotteries are for the most part not privatized.

          Coin Toss's avatar - shape barbed.jpg
          Zeta Reticuli Star System
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          Posted: October 29, 2008, 6:33 pm - IP Logged

          As money loses its spending power and becomes worth less and less people are willing to risk it more and more.

          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

          Lep

          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

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            Kentucky
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            Posted: October 29, 2008, 6:45 pm - IP Logged

            In times like these? That is, when the nation is facing a recession? It seems to me that when cash is low, hope can't go anywhere but up, and one good way to hope is to play the lottery. I'm not saying it's right or wrong; but I'd like to know your input on this matter.

            Personally, it seems to me that people may have less cash nowadays but they still make the effort to play the lottery, especially the jackpot lotteries. At least in these parts, more and more of the people I know buy tickets to the MegaMillions and Classic Lotto. At a store I used to work that sells lottery tickets, they said their sales actually increased every month for the past six months, if only slightly.

            The increase in sales might be coming from the people that usually waited for the jackpot to reach $100 million or more and spent $20 to $50 on those drawings. Maybe in these times spending $5 or $10 hoping to win a $23 million jackpot might make more sense than betting it all on one huge jackpot drawing.

            On the other hand, the people that usually wager $10 on every drawing might now be wagering only $5 or are playing other lottery games that give them a better chance to win something.  If the economy gets worse before it gets better, eventually that will affect lottery sales too.

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              New Member

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              Posted: October 29, 2008, 8:26 pm - IP Logged

              yeah I have actually read several articles about this (can't remember where any of them were from!) but there has actually been quite a large increase in lottery ticket sales due to the falling economy.

              I can see why though, people hang on to any hope when they are struggling financially. For some people it could be the only thing to save them!

               

              Amanda White Bounce

                time*treat's avatar - radar

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                Posted: October 29, 2008, 8:53 pm - IP Logged

                I once read there were several items that were recession proof, among them were beer, cigarettes and lottery tickets.

                A place where I sometimes buy tickets sells all three. They are currently expanding. Shocked

                In neo-conned Amerika, bank robs you.
                Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                  ThatScaryChick's avatar - x1MqPuM
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                  Posted: October 30, 2008, 1:03 am - IP Logged

                  I can see how lottery sales are going up. Playing the lottery gives many people hope that they may get lucky enough to win a big jackpot or a decent sized prize and this will allow them to retire or never really have to worry about money troubles. Now don't get me wrong, I do believe that some people are cutting back on the amount that they play (I am one of those people), but I can see some people spending more money.

                  "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

                    guesser's avatar - Lottery-017.jpg

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                    Posted: October 30, 2008, 1:26 am - IP Logged

                    In times like these? That is, when the nation is facing a recession? It seems to me that when cash is low, hope can't go anywhere but up, and one good way to hope is to play the lottery. I'm not saying it's right or wrong; but I'd like to know your input on this matter.

                    Personally, it seems to me that people may have less cash nowadays but they still make the effort to play the lottery, especially the jackpot lotteries. At least in these parts, more and more of the people I know buy tickets to the MegaMillions and Classic Lotto. At a store I used to work that sells lottery tickets, they said their sales actually increased every month for the past six months, if only slightly.

                    The LAST thing we need is a privatized lottery.

                    And I take a hard issue with your 'one good way to hope is to play the lottery' statement.  That's NOT a good way to hope.

                    As far as what to invest in in a recession, it's sure not Casinos, go take a look at how their stocks are doing compared to 2 years ago, and then compare that to Beer, SodaPop, McDonald's, YUM Brandstoday....  but if you want long-term upside potential, sure, I'd lookat Wynn, LVS, and 5-6 others. But not today.

                    What to invest in in a recession ?    CASH.   Yeah, we went up 900 the other day, and we will go back down 900 - but probably not all in one day. I expect the 'low' to hit in January/February/March next year, after dismal Xmas sales are reported.

                      time*treat's avatar - radar

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                      Posted: October 30, 2008, 8:13 am - IP Logged

                      My guess would be anyone with cash to spare will be able to pick up some nice bargains this Xmas shopping season. Any takers on it starting before Thanksgiving, this year? Like, Nov 1, stores take down the hallowe'en decorations and immediately put up Santa? Jester

                       

                       

                      (how long has that 'embed media' button been there?)

                      In neo-conned Amerika, bank robs you.
                      Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                        spy153's avatar - maren

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                        Posted: October 30, 2008, 8:42 am - IP Logged

                        The increase in sales might be coming from the people that usually waited for the jackpot to reach $100 million or more and spent $20 to $50 on those drawings. Maybe in these times spending $5 or $10 hoping to win a $23 million jackpot might make more sense than betting it all on one huge jackpot drawing.

                        On the other hand, the people that usually wager $10 on every drawing might now be wagering only $5 or are playing other lottery games that give them a better chance to win something.  If the economy gets worse before it gets better, eventually that will affect lottery sales too.

                        That's what I have been doing.  I have been spending less on powerball and mega millions and more on the pick3 and pick 4 games.  (Hasn't helped one bit though.  KY is my kryptonite!  I haven't won a single thing in real cash since I moved here 3 years ago when playing in ky.  P***edI was planning on stopping that little trend this week for that very reason.  And only spending less on the jackpot games. I can play in TN and win something. ) 

                        And, according to news stories, sales have gone down during these tough times.   Look back at some of the archive stories here on LP.  For people like me, where the lottery is my only vice, it is the first thing to take a hit when times get tough.  Which is very hard on a person !  I gotta have some kind of fun!  Eating out all the time makes you fat and unhealthy.  Working out all the time wears a person down.  I gave up drinking and smoking years ago, 'cause we know they're bad for you.  Sure, I could coddle my kids and hubby until their heads spined, but what kind of people would that make them?  Certainly not independent ones, which I'm a firm believer in.  I used to be a clean freak, but quickly learned it caused my kids to become allergic to everything because they weren't building immunities to their environment.  My point is, I'm glad the gas prices have gone down so now maybe the economy can get back on their feet sometime in the near future.  Technically speaking, the prices should be lower than they currently are because the cost per barrel is lower than it was before the prices starting shooting up 3 years ago !  Gas companies just got use to price gauging the crud out of us and getting away with it !  But they will wake up soon.. the rest of the population has.

                        voir-vous dans mes reves!Cool

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                          Northern Ohio
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                          Posted: October 30, 2008, 1:38 pm - IP Logged

                          The LAST thing we need is a privatized lottery.

                          And I take a hard issue with your 'one good way to hope is to play the lottery' statement.  That's NOT a good way to hope.

                          As far as what to invest in in a recession, it's sure not Casinos, go take a look at how their stocks are doing compared to 2 years ago, and then compare that to Beer, SodaPop, McDonald's, YUM Brandstoday....  but if you want long-term upside potential, sure, I'd lookat Wynn, LVS, and 5-6 others. But not today.

                          What to invest in in a recession ?    CASH.   Yeah, we went up 900 the other day, and we will go back down 900 - but probably not all in one day. I expect the 'low' to hit in January/February/March next year, after dismal Xmas sales are reported.

                          If you read my statement again, I never said it was good or bad (from my own perspective, but not necessarily theirs). But like it or not, a bunch of people play the lottery because it gives them hope, especially those in low-income families.

                          I just read an article by Warren Buffet. Basically, he said when people are afraid, you take risks (meaning when the economy is in shambles and nobody wants to invest, invest) and when people are taking risks, be afraid (meaning when times are great and everyone's spending, it's going to end soon, so don't invest).

                          Best investment in these parts at least seems to be housing. The prices seemed to have bottomed out. I'm going to wait til the summer then maybe buy some property.

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                            Kentucky
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                            Posted: October 30, 2008, 5:59 pm - IP Logged

                            That's what I have been doing.  I have been spending less on powerball and mega millions and more on the pick3 and pick 4 games.  (Hasn't helped one bit though.  KY is my kryptonite!  I haven't won a single thing in real cash since I moved here 3 years ago when playing in ky.  P***edI was planning on stopping that little trend this week for that very reason.  And only spending less on the jackpot games. I can play in TN and win something. ) 

                            And, according to news stories, sales have gone down during these tough times.   Look back at some of the archive stories here on LP.  For people like me, where the lottery is my only vice, it is the first thing to take a hit when times get tough.  Which is very hard on a person !  I gotta have some kind of fun!  Eating out all the time makes you fat and unhealthy.  Working out all the time wears a person down.  I gave up drinking and smoking years ago, 'cause we know they're bad for you.  Sure, I could coddle my kids and hubby until their heads spined, but what kind of people would that make them?  Certainly not independent ones, which I'm a firm believer in.  I used to be a clean freak, but quickly learned it caused my kids to become allergic to everything because they weren't building immunities to their environment.  My point is, I'm glad the gas prices have gone down so now maybe the economy can get back on their feet sometime in the near future.  Technically speaking, the prices should be lower than they currently are because the cost per barrel is lower than it was before the prices starting shooting up 3 years ago !  Gas companies just got use to price gauging the crud out of us and getting away with it !  But they will wake up soon.. the rest of the population has.

                            "That's what I have been doing.  I have been spending less on powerball and mega millions and more on the pick3 and pick 4 games."

                            Most people feel lucky winning $150 playing Mega Millions or $100 playing Powerball after spending $5 a drawing for an entire year. The same hope of winning the jackpot was there when times were good and players didn't have much to show for the money paid for a dream. There are others games with much smaller jackpots and players can get more back something for their bucks.

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                              Northern Ohio
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                              Posted: October 31, 2008, 10:25 pm - IP Logged

                              "That's what I have been doing.  I have been spending less on powerball and mega millions and more on the pick3 and pick 4 games."

                              Most people feel lucky winning $150 playing Mega Millions or $100 playing Powerball after spending $5 a drawing for an entire year. The same hope of winning the jackpot was there when times were good and players didn't have much to show for the money paid for a dream. There are others games with much smaller jackpots and players can get more back something for their bucks.

                              I have been waiting for the JP to hit $50 million (which hasn't happened for relatively a while) for MM before I spend. Occasionally, if I think I'm having a lucky day, I'll buy one or two QPs for the game. But I usually spend $5 per drawing ($10 a week) on it. Now I'm waiting because times are tough and I have to budget better.