On the lottery, the infamous tax on the poor, a £49m jackpot

I saw a TV commercial for the next Euromillion lottery draw. There is a £49,000,000 estimated jackpot. That would come handy, wouldn’t it? You could even buy a couple of banks these days.

It is commonly said that lottery is a tax on the poor. Let’s see why:

The theory:
A k-combination is a subset with k elements. The number of k-combinations (each of size k) from a set S with n elements (size n) is the binomial coefficient (also known as the “choose function”):

Where n is the number of objects from which you can choose and k is the number to be chosen, and n! denotes the factorial (the product of all positive integers less than or equal to n). Ein?

For the layman:

Winning selections (Odds)
Jackpot – Match 6 main numbers (1 in 13,983,816)
Match 5 main numbers plus the bonus number (1 in 2,330,636)
Match 5 main numbers (1 in 55,492)

Match 4 main numbers (1 in 1,033)

Match 3 main numbers (1 in 57)

If you look at lottery as a means of getting rich, forget about it, an odd player playing a lucky dip has statistically the same chances of winning the jackpot than someone who plays the same numbers week in, week out for a year. 1 in 13,983,816 chance or 0.0000000715 per cent for the one-off player and 52 in 13,983,816 or 0.00000371 per cent for the lotto junkie.

According to several sociological studies, the wealthiest and the poorest people are least likely to take a chance on the lottery. I thought that having a mortgage, a car and a terraced home was a sign of middle class, but since I use to play Euromillion online every week, I must have been one of the struggling masses. I stopped doing it in March, so I guess that I crawled out of poverty!

Of course, someone will get rich, but don’t forget it, it is just a game. Becoming addict to the weekly draw, playing always the same numbers or playing more than one combination at a time, is a waste of money. A tax on middle and poor classes. Governments should be ashamed of fooling their own customers, sorry their own citizens.

As the old Russian proverb goes, pray to God, but keep rowing to shore. Don’t expect government bailouts of any kind, you are your own bailout.

.calvin

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