The Lottery – A Tax For The Mathematically Challenged

1979 The year lotto started. Nobody won division 1 which was $384,975. Back then it was 6 from 40. Today it’s 6 from 45.

1 in 8,145,060 The chance of winning the big one in Lotto.

$27 million What is could have cost Julius Caesar to win his first Division 1 prize. Born 100BC, if on his 18th birthday he began buying 300 Powerball tickets weekly, with 50 draws a year, he could expect to win his first Division 1 prize in 3583AD.

$128.3 billion The amount Australians gambled last year.

70% of this total was spent on poker machines.

2.5 million The number of different screens a typical poker machine with five reels and 35 icons can display. If you played the machine for eight hours each and every day, with five seconds between spins, it could be over eight years before you saw the same screen twice.

1 in 5 The chance of winning cash with a typical $5 Scratchie.

98.8% The chance that you won’t win more than $12 on a typical $5 Scratch lotto.

Money Magazine, October 2004.

2 thoughts on “The Lottery – A Tax For The Mathematically Challenged”

  1. There are smarter ways of playing the lottery. I would like to point out a very cool program that I am a member of. Basically, you can get paid to play the lottery which is VERY cool. If you check out LottoMagik.com and click on “Income” it explains everything. To be a captain sounds expensive ($50 a month) but with just two team captain referrals you are already getting paid to play the lottery every month. Plus, since you are on a team, you increase your odds of winning. I’m not saying you have to join, or that you even have to give it the time of day. I’m just letting you know that there are options out there for playing the lottery smartly.

  2. Doesn’t effectively change the fact that lotto is a losers game though does it?

    Making a living off the ‘greater fool theory’ with lotto payments doesn’t greatly appeal to me either.

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