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MYTHS ABOUT LOTTERIES…DEBUNKED!

There are lots of myths about the lottery and the internet is only adding fuel to the fire because many people believe these myths to be true. many of the myths are disproven over and over again but conspiracy-minded people don’t believe them. People can also visit a site Snopes which disproves myths and provide facts about them but some people claim political bias on Snopes’ behalf. And claim that this bias negates any information that the Snopes provides.

Many times, people pass the information along on the internet without even verifying them and the cycle keeps repeating once the misleading information is shared.

There are many myths about the lottery and its high time some of them should be busted. So read on to read some of the myths about the lottery.

  1. BIG JACKPOT WINNERS ARE SET FOR THEIR WHOLE LIFE

At least 2 studies have disproven the myth that big jackpot winners are set for their whole life. One study from the Camelot Group, the administrators for the United Kingdom National Lottery, found that over 40% of winners wound up losing their fortunes within a few years. Another study from the National Endowment for Financial Education (NEFE) found that almost 70% of winners file for bankruptcy within a few years.

2. PLAYING WITH THE SAME LOTTERY NUMBERS EVERY TIME INCREASE YOUR CHANCES OF WINNINGS.

Some people find comfort in playing with the same numbers every time because they think they are lucky but contrary to what they believe, choosing the same numbers every time doesn’t improve your chances of winning.

There are many people who have won using their lucky numbers but keep this in mind that lottery numbers are chosen randomly so the chances of getting your lucky number picked are the same as any other number.

3.KEEP A LOW PROFILE AFTER WINNING

Well, this is another myth. The lottery commissions in each state are government agencies. They’re required under the Freedom of Information Act (FOIA) to declare winners. For some state lottery, it is necessary to disclose the details of the person which includes the winner’s name, address, and photo.

But there are also some states that allow winners to form a trust which is like a holding company. When the state publishes the winner of the lottery then the trust’s name is displayed.

4. SOME STORES ARE LUCKIER THAN OTHERS

It is the most common myth in which people start to view the store as luckier than others from where the winning ticket has been purchased especially when there are several winners that bought their tickets from the same store. But Lucky Stores are not just real things because lottery numbers are drawn randomly, so it’s irrelevant where you got your tickets.

5.LOTTERIES PREY ON POOR PEOPLE

According to a poll by the Gallup disproved this myth.

The poll found that people with incomes less than $25,000 were the least likely to play. They found that the $45,000 – $75,000 income group was the most likely to play, with 65% playing in the previous 12 months.

Another finding involved people with incomes over $75,000. The poll found they spent over 3 times the amount on lottery tickets than those with income under $25,000.

6. LOTTERIES ARE A TAX ON POOR

There are many people who think lotteries as a regressive tax, in that it takes more from low-income earners than it does high-income ones. To put in easier words, they think lotteries as a tax on the poor.

This myth was developed on the concept that only low-income earners play the lottery. While low-income earners make up a good chunk of lottery players, middle-class citizens also play the lottery. But even there are some rich celebrities who play the lottery too.

There is a chunk of lottery money that goes to government funds but keep in mind that taxes are mandatory on every piece of earning and the lottery is also considered as an earning form in the eyes of the government.

CONCLUSION

There is always some misleading information about everything out there. But the main thing is that you should check the resources form where the information is coming and remember not to trust anyone’s website and do your due diligence. When you come across any crazy fact look deeper into the story and always look for proof.

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