Woops, I Won the Lottery!
Posted by Cap in Woops, Bought Crap |
So the pay day has finally come. I can finally cash out and say what I’ve always wanted to say to colleagues, family, and friends — because I’m stinking rich. It is strange that lucky events often happens to me on April First of every year – but who am I to deny destiny?
What to do first? Perhaps buy myself another private jet? Or another 3 series from BMW? But why stop at the poor man’s M3?
With odds of 1 in 175,711,536 for the Mega Millions, many of us would expect that many Americans would know better to avoid sinking money into lottery tickets — but unfortunately according to a survey from the Consumer Federation of America, 21% of Americans still believe lottery to be a practical means of wealth accumulation.
You can argue that when the jackpot reaches a certain astronomical value, the positive expected value would warrant a lottery ticket purchase. And we can throw other factors such as after-tax results, taking the lump sum, more than one person winning into the equation, and have some math debate about probability theory — but in general, it is still safe to say that most lottery tickets are a crappy bet.
Anyhow, who cares? I’m stinking rich.
Sure, it’s a bit strange that I’ve won a lottery that I haven’t entered myself into, but hey, a “National Lottery” from the city of Istanbul can’t be wrong!
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13 Comments to “Woops, I Won the Lottery!”
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April 1st, 2008 at 4:49 pm
Nice april 1st joke :)
Tax on the stupid FTW!
April 1st, 2008 at 5:07 pm
i always thought you stinked, at least now you’re rich too. haha
April 1st, 2008 at 5:21 pm
Hey, don’t forget to buy yourself a McMansion!
April 2nd, 2008 at 5:42 am
Money’s worth from lottery tickets:
I worked a job where we would buy our lottery tickets every Wedneday, then talk about the creative ways we would quit our job if we hit the jackpot. At $1, I recieved more than my money’s worth in entertaiment value.
April 2nd, 2008 at 8:17 am
Now you can get that Wii…
April 2nd, 2008 at 3:49 pm
No witty remark on the image Alt. txt.? Aww…weak.
April 4th, 2008 at 10:26 am
I take my lunch to work, and I have for 30 years. I take the shortest route to work even though it takes longer as it saves a buck week on gas. I wear a sweater in the house in the winter and spend a lot of time in the basement in the summer. I also buy 2 Powerball tickets a week, yes it’s $104 dollars a year, but the Powerball in Tenneessee is used for education. My daughter has already gotten $6000+ for college. Yep a tax on the stupid to make someone else smarter. It would take me 57 1/2 years to pay the lotto back what we have already gotten out of it. I hope I live long enough to pay them back.
April 6th, 2008 at 12:49 am
Big fan of your site so I had to tag you. Have fun!!
April 6th, 2008 at 5:32 pm
It’s also sad to see how many people go bankrupt after they win the lottery!
April 7th, 2008 at 8:36 am
I’m with you, Greg. I get more amusement out of five bucks’ worth of lottery tickets than anything else at twice the price. Our office chips in once or twice a year, when it gets into the $200 million range, and we spend the rest of the day laughing about it.
April 9th, 2008 at 3:55 pm
Just FYI, I’m totally okay with office pool and such. Lottery or gambling of any kind, for entertainment is all peachy with me — especially when you can well afford the entertainment.
I think I had a note of that in the lottery post for Stop Buying Crap #15.
Dave: I do understand that quite a few lotto programs in certain states have a good portion of the money go into public education, which is great IMO — but that brings about the problem of why these states need the lottery program to supplement education funding in the first place. That gets a bit messy though as it brings up politics and state/local budgets, which is hard to discuss since I know nothing outside of my area.
Being a local community college and state university student, I’m well aware that my tuition fees are often covered by supplement programs besides taxes. I think my point of the post (besides a lame april fools joke), is that I really dislike the fact that a high percentage of lottery buyers are those that can least afford it.
April 9th, 2008 at 4:29 pm
1stopmom: Thanks for the tag but sorry I don’t generally do tag post.
May 25th, 2008 at 11:07 pm
Ha ha – your site is hilarious, I just stopped by.
I hear you on buying crap. And on university parking tickets – I think I’ve paid at least $150 worth.
You should all check out Neville’s financial blog post about his lottery-investment experiment.
Also, if you’re on StumbleUpon, look me up:
http://fluomundi.typepad.com