$65 Billion Dollars in Lottery tickets sold for the chance to "win" $550 Million

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posted on Nov, 28 2012 @ 06:48 PM
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I found this article detailing how that sum of money breaks down.

economy.money.cnn.com...

Good grief perhaps we should have a lottery to fund the government's shortfall.
A billion dollar top prize, all states eligible for a US Governmenty Lotto!
Whooppee!

Just imagine all this money being taken out of the economy week after week of unproductivity.
It's really quite pathetic.

And no, I haven't bought a looto ticket.
Mainly because I don't go to sleep at night dreaming about how I would spend some imaginary
$550 million dollars. I don't want or need that kind of money to be happy.




posted on Nov, 28 2012 @ 07:02 PM
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You misunderstood the article you posted. This $550 powerball is a single lottery. Americans spent $65 billion in a single year on all lotteries, not on the chance to win this powerball drawing.


$65 Billion Dollars in Lottery tickets sold for the chance to "win" $550 Million



posted on Nov, 28 2012 @ 07:03 PM
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Originally posted by PaperbackWriter
I found this article detailing how that sum of money breaks down.

economy.money.cnn.com...

Good grief perhaps we should have a lottery to fund the government's shortfall.
A billion dollar top prize, all states eligible for a US Governmenty Lotto!
Whooppee!

Just imagine all this money being taken out of the economy week after week of unproductivity.
It's really quite pathetic.

And no, I haven't bought a looto ticket.
Mainly because I don't go to sleep at night dreaming about how I would spend some imaginary
$550 million dollars. I don't want or need that kind of money to be happy.


One of the conditions to bringing it to our state was to help fund education.Never happened.



posted on Nov, 28 2012 @ 07:07 PM
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50% goes to the state and the rest gets paid out...
so, I would only get even after taxes would be 380ish.
I,However CAN imagine what i would do with it Happiness depends on so much more then money, but rental is kinda like owning.



posted on Nov, 28 2012 @ 07:14 PM
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This is why they have made public lottery illegal.
Back when I was 13, I had this idea. I would go door to door, and sell raffle tickets. My Uncle had rolls and rolls of those red raffle tickets. That I could sell for 1$ each.

If I sold 500 Tickets. The winning ticket would win 100$.

After going door to door, I sold about 75 tickets.. The next day the cops where at my house, and wanted to talk with my parents. I learned really quickly, that this scam was only for those who owned the rights to this scam.

I was underage and was not arrested, but I learned early on that the lottery is a BIG conspiracy.

I have still been trying to work out a loop hole, but I realize, when there is money to be made. The pigs, and the very corupt want their hands in the pot.
The only loop hole I found... Pay off the right people.. Yet by that time.. You have paid off the right people, and you end up not making that much.. You have put more money out to keep them quite, or look the other way.

Sure the same thing works with state lottery. Its all a big scam, and key people are paid off to look the other way.
Its under the same realm. I got mine Jack..



posted on Nov, 28 2012 @ 07:20 PM
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reply to post by zysin5
 



I have still been trying to work out a loop hole, but I realize, when there is money to be made.

You use a currency which isn't officially classified as a currency and cannot be regulated. The tickets would be bought with this currency and the prize would be issued in that currency. Is there such a currency you ask? Yes... it's called bitcoin. That's the reason why online poker and other gambling games are often now played with bitcoin.
edit on 28/11/2012 by ChaoticOrder because: (no reason given)



posted on Nov, 28 2012 @ 07:24 PM
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reply to post by zysin5
 


Thanks for sharing this.
I always think about reading 1984 when I read about these lootos in hard times.
It's an opiate for the masses and is an innoculation against justified anger at the pigs at the
trough when so many people would be there snorting and rooting right there with them
given a 150 million to one shot.

Yes, that's right. Supposedly, the chances to win are 150million to one.
So how does that Prize get to be $550 million with no winner?
Because it's a rigged game.

It's no surprise to me the rigged game got so high at the fiscal cliffs edge.
If I am not mistaken, the last time we had a humdinger $350 million Jack Pot
was when they were pretending hand-wringing about a budget ceiling.



posted on Nov, 28 2012 @ 07:32 PM
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reply to post by PaperbackWriter
 


Maybe you should change the title of your thread because it's definitely inaccurate... It's not $65 billion sold in tickets for a chance to win $550 million prize.... smh



posted on Nov, 28 2012 @ 07:34 PM
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reply to post by PaperbackWriter
 


A good question to raise and even research is,where is the rest of the money going?

Here is an example......


For every dollar spent on a ticket, 30 cents of that goes towards Michigan’s education fund. The rest goes to pay for prizes, commissions, and vendors. This year alone, lottery sales generated $770 million in revenue for Michigan education. Since 1972, The Michigan Lottery has contributed over $17 billion to the fund. So even if you’re not a winner, your state gets some of the cash. Wednesday’s Powerball drawing is at 10:59 p.m.


fox17online.com...

30 cents on the dollar for education.

That's what they say in my state.I want to see proof because they keep cutting education here.



posted on Nov, 28 2012 @ 07:36 PM
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When is the drawing?



posted on Nov, 28 2012 @ 07:37 PM
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Originally posted by TheOneElectric
When is the drawing?


Tonight around 830-9pm cst



posted on Nov, 28 2012 @ 07:39 PM
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reply to post by jhn7537
 


Meh, I'm not going to bother getting a ticket then.



posted on Nov, 28 2012 @ 07:39 PM
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Tell that to someone I know, $24 million is a lot of money for $645 over a number of years.

It's usually those that can't afford $10 that spend it and if they won don't know how to invest it or build on it for their generations to benefit from. I other words, it those who have no idea and should be buying one who spend the most anyway.

Those well off buy tickets in modern because it's a game. The poor buy more than they can afford because they are in desperation and don't know the odds.

Apart from one I know....and he wasn't poor (though not well off) and has invested it correctly and not wasted it.
edit on 28-11-2012 by pacifier2012 because: (no reason given)



posted on Nov, 28 2012 @ 07:43 PM
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Well I know what I'd do with that money at some point buy me some Polyoticians by golly!!!
Then we'd have some REAL change!



posted on Nov, 28 2012 @ 07:44 PM
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reply to post by PaperbackWriter
 


Your welcome! And yeah the game is rigged! The whole damn system is a mirror of the lottery. The table is rigged folks.
A teenage kid in the 1980's figured that out, so I know that if in my youth I could smell a rat.. That people far older and wiser than me could figure that out.
Yet the small chance of winning that pot, makes us all, just accept it and look the other way.
While the owners of this game, are winning BIG everyday.

Its why I stopped buying scatch off tickets, or even bother to play anymore. Its a waste of money, and I do not know one person in my real life that has ever won BIG. at the most a couple grand, as it works to pay people off to look the other way.. " I got mine jack" mentality.



posted on Nov, 28 2012 @ 07:51 PM
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reply to post by jhn7537
 


I'm working on trying to get an accurate figure spent on this current lottery Powerball run.
The numbers ain't adding up.

I went to the State of Penn. and they say in one breath that they are selling tickets at the rate
of $20,000 a minute. Yet also claim that only $70 million tickets have been sold all told for this
lottery for all the weeks it's run.

They are spending their .30Cents on the dollar on the amorphously dubbed projects for the elderly.

This might be a worthwhile project to pursue to make my title correct, to uncover the REAL amount of
money being spent. But, I don't think the states are going to be giving out correct figures.
How else can they hide the vast sums of money where you can't account for if they truly spent .30 cents
on each dollar on such things as education and the elderly.



posted on Nov, 28 2012 @ 07:59 PM
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I won $57K in the FL lottery and $20K from a scratch off ticket. The $57K started my investment portfolio.

When i do play it's a $5 quick pick. If i have a couple extra bucks i'll play a scratch off ticket.

Not playing Powerball, since Cali doesn't have it. And definitely not driving to the AZ border just to buy a ticket.
edit on 28-11-2012 by bg_socalif because: Fat fingers on the keyboard



posted on Nov, 28 2012 @ 09:40 PM
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reply to post by bg_socalif
 


wow you're lucky what is the secret?



posted on Nov, 28 2012 @ 09:40 PM
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reply to post by bg_socalif
 


wow you're lucky what is the secret?



posted on Nov, 29 2012 @ 10:07 AM
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about LOTTO and California

does everybody realize that 33% of every dollar spent on Lotto purchased in Cali goes to the state of Cali. Just learned this .........yep, livin under a rock
edit on 29-11-2012 by racer451 because: (no reason given)





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