For those of us who have grown up poor and wondering where the next meal is going to come from. The lottery is something that created an escape for us, for that one moment you believe you will win and all your money troubles will be over, then reality sets in and you are one of millions of Americans who spent their hard earned money on tickets with belief that this is the ticket that will change my life for the better. Odds are you will never win the lottery in a million lifetimes. There are 175,223,510 different power all combinations to choose from. Even with those odds the desperation and allure of winning millions of dollars are enough for us to ignore the signs that we will never win the lottery. In 2010 the government made an estimated
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When I was young my brothers and I would have to become creative when making something to eat. We would sometimes have nothing to eat, but would still have enough money to play the lottery in hopes of striking it rich and having a better life. In 2010 roughly 53 billion dollars were spent on lottery tickets of the 53 billion, roughly 33 billion were given out in prize money. There are many benefits of winning the lottery, obviously gaining a tremendous amount of money. The lottery also stimulates economic growth because the lottery winners are putting millions back in the economy, and the money made from the lottery also helps our states, schools, and helps pay for our roads. Most lotto winners end up losing their fortunes due to mismanaging their money and frivolous spending, giving back all the money that the winners had back into the …show more content…
A study done in 2010 found that households with incomes less than 13,000 dollars a year spent an average of 645 dollars a year on the lottery, or about nine percent of their total income. The lower income you have, the more desperate you are, the more you wish you could have more financial stability. A reason why poorer people tend to spend more on lottery tickets than people of wealth. The same study shows that African Americans spend more on lottery tickets than white Americans. African Americans spend an average of 998 dollars a year on lottery tickets and white Americans spend an average of 210 dollars a year. Households with incomes under 25,000 dollars, spent an average of 600 dollars a year on lottery tickets consequently households with incomes of 100,000 dollars a year spent an average of about 300 dollars a year. People who have graduated college spend an average of 200 dollars a year, compared to people who have not graduated from college spent an average of 700 dollars a year. Showing that people who are more uneducated and have a lower income will spend more on the lottery because of how much it can change your life, and the desperation to be financially stable. Therefore it’s easier for people who are poor to spend more on lottery tickets because they are not as financially stable as people with wealth. Resulting in the government taking more money from the people who can’t afford it. The
When I was young my brothers and I would have to become creative when making something to eat. We would sometimes have nothing to eat, but would still have enough money to play the lottery in hopes of striking it rich and having a better life. In 2010 roughly 53 billion dollars were spent on lottery tickets of the 53 billion, roughly 33 billion were given out in prize money. There are many benefits of winning the lottery, obviously gaining a tremendous amount of money. The lottery also stimulates economic growth because the lottery winners are putting millions back in the economy, and the money made from the lottery also helps our states, schools, and helps pay for our roads. Most lotto winners end up losing their fortunes due to mismanaging their money and frivolous spending, giving back all the money that the winners had back into the …show more content…
A study done in 2010 found that households with incomes less than 13,000 dollars a year spent an average of 645 dollars a year on the lottery, or about nine percent of their total income. The lower income you have, the more desperate you are, the more you wish you could have more financial stability. A reason why poorer people tend to spend more on lottery tickets than people of wealth. The same study shows that African Americans spend more on lottery tickets than white Americans. African Americans spend an average of 998 dollars a year on lottery tickets and white Americans spend an average of 210 dollars a year. Households with incomes under 25,000 dollars, spent an average of 600 dollars a year on lottery tickets consequently households with incomes of 100,000 dollars a year spent an average of about 300 dollars a year. People who have graduated college spend an average of 200 dollars a year, compared to people who have not graduated from college spent an average of 700 dollars a year. Showing that people who are more uneducated and have a lower income will spend more on the lottery because of how much it can change your life, and the desperation to be financially stable. Therefore it’s easier for people who are poor to spend more on lottery tickets because they are not as financially stable as people with wealth. Resulting in the government taking more money from the people who can’t afford it. The