Searchlight Logo
special_image

    • News
      • Front Page
      • News
      • Breaking News
      • Press Release
      • Features
      • Special Features
      • From the Courts
      • Sports
      • Regional / World
    • Opinions
      • Editorial
      • Our Readers’ Opinions
      • Bassy – Love Vine
      • Dr. Fraser- Point of View
      • R. Rose – Eye of the Needle
      • On Target
      • Dr Jozelle Miller
      • The World Around Us
      • Random Thoughts
    • Advice
      • Kitchen Corner
      • What’s on Fleek this week
      • Health Wise
      • Physician’s Weekly
      • Business Buzz
      • Hey Rosie!
      • Prime the pump
    • ePaper
    • Obituaries
      • In Memoriam / Acknowledgement
      • Tribute
    • Contact Us
      • Advertise With Us
      • Letters To The Editor
      • General Contact Information
      • Contact our Webmaster
    • About Us
      • Privacy Policy
      • Interactive Media Ltd
      • St. Vincent & the Grenadines
    • Subscribe
    • News
      • Front Page
      • News
      • Breaking News
      • Press Release
      • Features
      • Special Features
      • From the Courts
      • Sports
      • Regional / World
    • Opinions
      • Editorial
      • Our Readers’ Opinions
      • Bassy – Love Vine
      • Dr. Fraser- Point of View
      • R. Rose – Eye of the Needle
      • On Target
      • Dr Jozelle Miller
      • The World Around Us
      • Random Thoughts
    • Advice
      • Kitchen Corner
      • What’s on Fleek this week
      • Health Wise
      • Physician’s Weekly
      • Business Buzz
      • Hey Rosie!
      • Prime the pump
    • ePaper
    • Obituaries
      • In Memoriam / Acknowledgement
      • Tribute
    • Contact Us
      • Advertise With Us
      • Letters To The Editor
      • General Contact Information
      • Contact our Webmaster
    • About Us
      • Privacy Policy
      • Interactive Media Ltd
      • St. Vincent & the Grenadines
    • Subscribe
The Lottery – a poor man’s tax
Millennial Musing
July 24, 2018

The Lottery – a poor man’s tax

Wouldn’t you like to be rich instantaneously? Imagine buying a winning ticket for $1 and winning over $200,000 cash; wouldn’t that be grand? All you need is a small investment for a chance to be rich for the rest of your life. However, if you’ve read any of my columns before, you know I’m about to lift the wool from your eyes and ruin this fantasy.

Firstly, let me say that lotteries are not inherently bad. On the basic level, they are quite fair. Playing the lottery requires no skill and very little investment for a chance to win a large sum of money. Commonly, the proceeds from lotteries are used by governments as revenue and the winnings are taxed by the state (which I find very unfair, but I digress). However, the observation of lottery ticket consumption shows how they disproportionately affect poor people negatively.

There are several alarming trends studies have found surrounding lotteries. Firstly, lottery tickets sell more when unemployment is high. When you think about it, this makes sense. Unemployed people are often down on their luck and would gravitate towards the idea of a quick pay-out. Unemployment can make you desperate for a break and the idea of a quick cash grab is a major incentive for playing. Secondly, more poor people buy lottery tickets than rich people. This one is particularly harmful, as people can spend hundreds of dollars buying lottery tickets. Moreover, the likelihood of a pay-out is miniscule. A person is better off simply saving their money or investing, versus playing the lottery.

Lotteries prey on the economically vulnerable members of society and their desire to improve their standard of living. It is easy to judge the players as naïve or stupid; why would you spend money you can’t afford?

An even harsher truth was identified in a 2006 study. They found that lottery winners were no happier than those who did not win and found less joy in everyday activities. I suppose whoever said money won’t buy happiness was on to something. Finally, they found that lottery winners lack financial literacy and often lose all their earnings within a decade. So even when they’ve won the money, it seems they don’t know how to spend it. Financial literacy is often overlooked in school, as it is something you learn from your parents. If your parents aren’t financially literate, then that ignorance is passed on to you. It is very easy to exploit someone when they are financially ignorant.

If I’ve learnt anything on this earth, it’s that humans are hopelessly optimistic. I can preach until I’m weak about the evils of lotteries and yet I strongly believe everyone would ignore me and play anyway. I suppose playing the lottery is a lot like drinking alcohol. You know it’s bad for you, but it feels good while you’re doing it; you just tell yourself “I’ll deal with the consequences later”.

  • FacebookComments
  • ALSO IN THE NEWS
    Domestic worker killed at Long Wall
    Front Page
    Domestic worker killed at Long Wall
    Webmaster 
    September 12, 2025
    FAMILY MEMBERS of a woman who was killed at Long Wall say they suspect their relative was hacked by a person they all know very well. On Tuesday, Sept...
    Front Page
    NDP never built a single house in SVG – Finance Minister
    Webmaster 
    September 12, 2025
    THE IDEA THAT HOUSING is a right, that every Vincentian has a right to safe and secure housing, and that the government has a role to play in ensuring...
    No bail for Police officer charged with attempted murder
    Front Page
    No bail for Police officer charged with attempted murder
    Webmaster 
    September 12, 2025
    A POLICE OFFICER, who allegedly stabbed his ex-girlfriend 26 times about her body was remanded even as his lawyer argued that the Royal St Vincent and...
    Front Page
    New ULP Administration will roll out AI policy
    Webmaster 
    September 12, 2025
    A NEW UNITY LABOUR PARTY ADMINISTRATION will be rolling out an Artificial Intelligence (AI) policy to embrace its positives and guard against the nega...
    Sandy Bay Secondary School marks 20th Anniversery
    Front Page
    Sandy Bay Secondary School marks 20th Anniversery
    Webmaster 
    September 12, 2025
    TUESDAY, SEPTEMBER, 9,2025 was a memorable day for the staff and students of the Sandy Bay Secondary School, which was marking its 20th anniversary wi...
    Foundation implements community driven project in SVG
    News
    Foundation implements community driven project in SVG
    Webmaster 
    September 12, 2025
    THE ASHLEY LASHLEY Foundation, with support from the United States Government, is implementing a local-level project entitled “Community-Driven Strate...
    News
    Foundation implements community driven project in SVG
    News
    Foundation implements community driven project in SVG
    Webmaster 
    September 12, 2025
    THE ASHLEY LASHLEY Foundation, with support from the United States Government, is implementing a local-level project entitled “Community-Driven Strate...
    Skills not available locally, non-nationals have to be hired says Finance Minister
    News
    Skills not available locally, non-nationals have to be hired says Finance Minister
    Webmaster 
    September 12, 2025
    NON- NATIONALS ARE being hired to fill several jobs in St Vincent and the Grenadines (SVG) simply because locals did not have the required skill sets....
    Montgomery Daniel squashes rumours that he’s sick
    News
    Montgomery Daniel squashes rumours that he’s sick
    Webmaster 
    September 12, 2025
    DEPUTY PRIME MINISTER Montgomery Daniel has sought to clear around rumours that have been circulating relating to his health. Speaking on NBC radio on...
    News
    $1.3 billion in Tourism investment to yield 2,000 jobs – Camillo
    Webmaster 
    September 12, 2025
    The GOVERNMENT of St Vincent and the Grenadines is set to sign agreements for tourism investment of $1.3 billion on mainland St.Vincent. On Monday, Se...
    Bagga’ man pleads guilty to illegal gun, ammo possession
    From the Courts, News
    Bagga’ man pleads guilty to illegal gun, ammo possession
    Webmaster 
    September 12, 2025
    A BARROUALLIE MAN will be sentenced next week after pleading guilty to being in illegal possession of a firearm and eight rounds of ammunition. Demron...

    E-EDITION
    ePaper
    google_play
    app_store
    Subscribe Now
    • Interactive Media Ltd. • P.O. Box 152 • Kingstown • St. Vincent and the Grenadines • Phone: 784-456-1558 © Copyright Interactive Media Ltd.. All rights reserved.
    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok