Tuesday, July 22, 2008
Another Break Even Day with Lucky 7
Today was another break even day. I spent $2, I won $2.
The purpose of this exercise is to see WHEN I start losing. How long does it take, and over a course of time, let's say one month, how much money will I lose?
So far, I'm up $2.
Scratch off and Lotto tickets are available at almost every corner in town. Lottery tickets are more available than fresh produce or skim milk.
My theory is that in towns with so little opportunity, these scratch offs and lottery tickets represent a chance (albeit a slight chance), for change and a better life.
All you need is a dollar and a dream, right?
I view the lottery as a regressive tax, taking, proportionally, more money from people with lower incomes.
Where is the benefit from the lottery?