Here’s what I have noticed about the lottery. I only play the games where you can win over $250,000 and I don’t play scratch off games. So I play stuff like Mega Millions, Powerball, Florida Lotto and Florida Fantasy 5. I only play maybe $5 per week. But that is a very very tiny sum of money compared to how much these old people at my local convenience store play. Some of them walk in and get $100 in Powerball tickets at one time. You see, people who spend thousands play the lottery a lot sometimes end up winning. The problem is that they spend that amount of money over the years trying to win the jackpot. I recently talked to a guy online who said he did win the Florida Fantasy 5 game and he won about $75,000. I said, “Wow, that’s great news!” And he said, “Here’s the bad news. I probably spent that much money over all of these years trying to win that jackpot.”
So in a sense, they break even IF they are lucky. They usually break even by winning the second place prize for the big drawing games, not the big jackpot. The second place prizes on these games usually range from $50,000-$1,000,000. Take for instance, the jackpot for Fantasy 5 is usually about $250,000 but a lot of times a number of people will win and the jackpot gets divided up to about $75,000 per winner. Most people never win a large jackpot lottery game in their whole lifetime. I play it for entertainment purposes but some people are so addicted to the lottery that they spend so much and they feel crushed after they lose on the Powerball ticket they paid $100 for. Many of them feel crushed because they aren’t rich people. So their addiction really hurts them.