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What is the economic demographic of lottery players?

Topic closed. 8 replies. Last post 2 years ago by Artist77.

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United States
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February 1, 2012
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Posted: August 14, 2014, 7:25 am - IP Logged

Hello,

I am wondering about the demographics about lottery players. Wondering if people who have great careers and make good money play the lottery or is it the people who can least afford it play? I only started playing the lottery 4 years ago but have worked in low paying jobs my whole life. I tend to think that people who make a good living would tend to have their money in stocks and have 401k plans. I can see someone who always made a good living and was conservative with their money being able to retire with a nice nest egg. Personally I understand why someone who doesn't make much plays the lottery. For many of us it is the only we we can retire from our jobs and be secure financially. I've always tended to be more on the conservative side when it comes to money. Never had a new car and do not go on vacations (though if I ever win would take a nice trip). Guess I feel that if I can't afford it I will not buy it. Finally had to cut way down on my lottery spending a year ago and feel much better about it. I think many people feel the lottery is the only way out of a bad economic situation. For all the years of not playing the lottery felt it would have been money thown down the drain. Once I started I was chasing a pipe dream that wasn't rooted in reality. The way I play now keeps me in the game (should a miracle happen and I win). Reality isn't pretty when you know there is no lottery win for 99 percent of us.

    Tialuvslotto's avatar - Jailin
    Texas
    United States
    Member #150797
    December 31, 2013
    815 Posts
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    Posted: August 14, 2014, 10:43 am - IP Logged

    My theory is that there are two types of people: Doers and Dreamers.

    The Doers get out there and build a business and get rich, the Dreamers dream about winning the lottery.

    Personally, I have played the lottery quite regularly.  My secure and quite good paying job will never make me rich the way a lotto JP (or even second prize) could, even if I save and invest for many years.

    And, yeah, I'd definitely class myself as a Dreamer. White Bounce

    "There is no such thing as luck; only adequate or inadequate preparation to cope with a statistical universe."

    ~Robert A. Heinlein

      LottoMetro's avatar - Lottery-024.jpg
      Happyland
      United States
      Member #146344
      September 1, 2013
      1129 Posts
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      Posted: August 14, 2014, 11:49 am - IP Logged

      Hello,

      I am wondering about the demographics about lottery players. Wondering if people who have great careers and make good money play the lottery or is it the people who can least afford it play? I only started playing the lottery 4 years ago but have worked in low paying jobs my whole life. I tend to think that people who make a good living would tend to have their money in stocks and have 401k plans. I can see someone who always made a good living and was conservative with their money being able to retire with a nice nest egg. Personally I understand why someone who doesn't make much plays the lottery. For many of us it is the only we we can retire from our jobs and be secure financially. I've always tended to be more on the conservative side when it comes to money. Never had a new car and do not go on vacations (though if I ever win would take a nice trip). Guess I feel that if I can't afford it I will not buy it. Finally had to cut way down on my lottery spending a year ago and feel much better about it. I think many people feel the lottery is the only way out of a bad economic situation. For all the years of not playing the lottery felt it would have been money thown down the drain. Once I started I was chasing a pipe dream that wasn't rooted in reality. The way I play now keeps me in the game (should a miracle happen and I win). Reality isn't pretty when you know there is no lottery win for 99 percent of us.

      This differs by state/economic environment, so you should contact your lottery and ask for this information. Every lottery conducts a demographic study once a year or every few years (they do this for marketing research purposes). Generally, poor people play more often (i.e. daily games), but as far as overall participation goes, there are surprisingly many average/higher income players. Poor tend to play because they "need" to win, while rich play because it's the most affordable dream and entertainment. Higher income people tend to be more educated too, so that likely influences their participation (again, playing less often).

      If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
      If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

      2016: -48.28% (13 tickets) ||
      P&L % = Total Win($)/Total Wager($) - 1

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        February 1, 2012
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        Posted: August 14, 2014, 6:04 pm - IP Logged

        My theory is that there are two types of people: Doers and Dreamers.

        The Doers get out there and build a business and get rich, the Dreamers dream about winning the lottery.

        Personally, I have played the lottery quite regularly.  My secure and quite good paying job will never make me rich the way a lotto JP (or even second prize) could, even if I save and invest for many years.

        And, yeah, I'd definitely class myself as a Dreamer. White Bounce

        Hi Tialuvslotto,

        I agree with your theory. I'm definitely a dreamer with a touch of reality thrown in. I'm sure many people like myself realize the impossible odds of a lottery win but hang in there just in case that miracle comes.  Glad you have a good paying and secure job.

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          United States
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          Posted: August 14, 2014, 8:01 pm - IP Logged

          This differs by state/economic environment, so you should contact your lottery and ask for this information. Every lottery conducts a demographic study once a year or every few years (they do this for marketing research purposes). Generally, poor people play more often (i.e. daily games), but as far as overall participation goes, there are surprisingly many average/higher income players. Poor tend to play because they "need" to win, while rich play because it's the most affordable dream and entertainment. Higher income people tend to be more educated too, so that likely influences their participation (again, playing less often).

          Hi LottMetro,

          Thanks for the info. Have a feeling my state lottery would prefer not to release that info. I like your analogies.

            Lucky Loser's avatar - bucks
            Texas
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            January 30, 2010
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            Posted: August 15, 2014, 9:06 am - IP Logged

            I pretty much agree with consensus of 'least financially able' people playing the game mostly and it's for the same general reasoning... the idea of a 'chance' at it compiled with that 'hope' of actually hitting. Problem is, though, they don't quite understand the concept of playing and realize that it's costing them more to lose over time by spending so little on specific games like Pick 3. I still contend that it's far better to spend $5 on a decent scratch-off than on Pick 3 as that scratch-off will return and pay off much better for a specific time frame. I firmly believe that if more people had better math skills, and could properly implement those skills, they'd look at these games from a much different perspective than just hoping to hit.

            Hey, there's nothing wrong with hope and we all live with a certain percentage of it in our private lives. But, 'reason' must also be factored in at some point to keep a person truly focused on what's going on with the end product. Now, the people that are well off, or, 'more financially able' fall into two categories: (1) Those that have no money issues and don't play 'cause they don't don't really need the money. (2) Those that have no money issues, and, will spend more money on a given game for a better shot at a return...'cause money's no object for them. It's been proven time and time again that folks with money buy the high dollar scratch-off tickets and fare far better than their low purchasing counterparts. Dollar for dollar, the big tickets pay out so much better over time...and fall into the old cliche of 'getting what you pay for' and applies double for Pick 3.

             

            L.L.

            Small games, frequent wins, and regular payouts 'cause.....

            There are seven days in the week...'Someday' isn't one of them.

            #lotto-4-a-living

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              July 24, 2010
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              Posted: August 15, 2014, 1:07 pm - IP Logged

              Great subject... I think there are alot of unemployed that play the lottery.  I happen to fall in the working but not making enough to retire. 

                LottoMetro's avatar - Lottery-024.jpg
                Happyland
                United States
                Member #146344
                September 1, 2013
                1129 Posts
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                Posted: August 15, 2014, 2:17 pm - IP Logged

                I pretty much agree with consensus of 'least financially able' people playing the game mostly and it's for the same general reasoning... the idea of a 'chance' at it compiled with that 'hope' of actually hitting. Problem is, though, they don't quite understand the concept of playing and realize that it's costing them more to lose over time by spending so little on specific games like Pick 3. I still contend that it's far better to spend $5 on a decent scratch-off than on Pick 3 as that scratch-off will return and pay off much better for a specific time frame. I firmly believe that if more people had better math skills, and could properly implement those skills, they'd look at these games from a much different perspective than just hoping to hit.

                Hey, there's nothing wrong with hope and we all live with a certain percentage of it in our private lives. But, 'reason' must also be factored in at some point to keep a person truly focused on what's going on with the end product. Now, the people that are well off, or, 'more financially able' fall into two categories: (1) Those that have no money issues and don't play 'cause they don't don't really need the money. (2) Those that have no money issues, and, will spend more money on a given game for a better shot at a return...'cause money's no object for them. It's been proven time and time again that folks with money buy the high dollar scratch-off tickets and fare far better than their low purchasing counterparts. Dollar for dollar, the big tickets pay out so much better over time...and fall into the old cliche of 'getting what you pay for' and applies double for Pick 3.

                 

                L.L.

                I still contend that it's far better to spend $5 on a decent scratch-off than on Pick 3 as that scratch-off will return and pay off much better for a specific time frame. I firmly believe that if more people had better math skills, and could properly implement those skills, they'd look at these games from a much different perspective than just hoping to hit.

                +1 LL

                Pretty much sums up my playing philosophy.

                If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
                If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

                2016: -48.28% (13 tickets) ||
                P&L % = Total Win($)/Total Wager($) - 1

                  Artist77's avatar - batman14

                  United States
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                  January 16, 2012
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                  Posted: August 15, 2014, 7:29 pm - IP Logged

                  i think the pick 3 games are often played by the elderly and people who do not seem to have a lot of money to spare. When I buy a PB or Hot lotto ticket, I see a lot of them who can barely walk spending $40 to $100 on pick 3.

                  I think people of all socioeconomic levels play the lottery (at least the big $ games). I have a good job and a good education but it would never allow me to have the millions to establish a charitable foundation. I'd like to give grants yearly and have a reporting requirement so the money is used wisely.

                  J'aime La France.