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National Lottery

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Comments

  • Rebekah24
    Rebekah24 Posts: 544 Forumite
    Last year we played at work, we won about £4.50 all year..not worth the investment at all!!

    tonight will be the last time I play..lol better off saving the pound!
    OU Law student
    May Grocery challenge
    £30/ £11
  • I know the lotto is a waste of money to be honest, but at the same time its "probably" my only chance of becoming a millionairre. Its a small chance, in fact i know i have more chance of Barrack Obama coming round for tea and biscuits.

    But theres still that possibility :)
    DFD: 21st June 2012
  • Think I would have to save it - the odds are just too remote of winning anything for my liking but the odds of having some fun with the money that was saved - well, that's a different story:D.
    DFW Nerd Club # 1364
  • I have been paying for 1 line of lottery a week by DD for the last year and have won the grand sum of £0. If I had put £1 a week away in a separate account I would be £52 better off...hindsight is a powerful thing.
  • The odds of winning the jackpot are 1 in 14m (nearly). However, the odds of winning £10 are 1 in 57 so that you would not win in a year of playing. The Euro lottery odd of winning big are far greater, somewhere around 1 in 75m but your odds of getting something back are much higher than the UK Lotto.

    I don't think you can stop all spending and saying £1 a week is £52 a year is a poor argument. Life has to have something exciting in it and maybe £1 for the lottery is a fair price, with the occasional thrill.
  • Its ok to play as long as you think of it as throwing money away that you will likely never see back. Unfortunately some people do place a lot of hope in getting a win, and they will be sorely disappointed. I also know people who think, the longer they play, the more chance they have of winning, that it must be their turn soon. Not so.
    Debt at 1/1/11 £7,049.75, now £6,682.12 at 9/3/11
  • Asiacat
    Asiacat Posts: 163 Forumite
    The "right" answer to this according to all the financial experts is to save your money, invest it and leverage it and you have a far better chance of becoming rich than by playing the lottery.

    Howeverb by playing a lottery you are buying a dream that one day you could possibly become a millionaire. A distant dream maybe but still a remote possibility.

    Nobody starts off in life thinking they are going to be a financial failure everydbody thinks they have special skills that will see the allright once they reach adulthood.

    However between the sperm and the worm we are bombarded with choices on how to spend our money and we make more than a few mistakes along they way. By the time we have a lightbulb moment that all that stuff doesn't equate to happiness it is normally too late to start building a fortune the conventional way and we find we are spending all we have to keep our head above water.

    However than single pound a week, less than the cost of half a opint of beer will buy a dream that someday maybe you will become a millionaire.
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