Don’t tell your broke Budweiser-chugging best buddy since high school this but…
The lottery is an exploitation of poor people.
Statistically speaking, poor people purchase the most lottery tickets of any demographic in the United States. Poor people in America would rather spend their meager earnings on the lottery than invest a single dime of their own money towards building real wealth.
According to the latest data 66% of people who play the lottery make less than $50,000 a year with nearly 25% of all lottery players making less than $25,000.
The top five answers to the survey question “if you win the lotto what would you do with the money” had zero to do with investing or using the winnings to fund a new business or creative venture.
A whopping 71% said they would use the winnings to pay off debt.
Think about that for a moment; 71% of the people polled have untold amounts of debt in the form of delinquent credit cards and payday loans.
It is a statistical fact that 71% of people who play the lottery are too poor to pay off their outstanding debts.
It’s strictly the poor who play the lottery. And it’s poor people who dream of winning money to pay off debt.
I was at the post office last week and within earshot I heard an impoverished man gleefully waltz in announcing he’d spent his last $25 dollars on lottery tickets.
Only a poor person would spend his last $25 dollars on lottery tickets hoping for “a dream come true” or a divine miracle.
And only a poor person would consider risking a single dime of his money on any venture in which the odds are 77,000,000 to 1 against him. That’s right, you are guaranteed to die of cancer or die in a plane crash before you will ever win the lottery.
“Get Rich Quick” Psychology is for Poor People
Rule #1: Only poor people believe that it’s statistically possible to get rich overnight. And the state is more than happy to sell poor people statistically impossible dreams of “overnight success.”
Poor people often parrot some screed about rich arseholes with “silver spoons” and their inherited wealth. Little do they realize that wealth passed down from generation to generation is steadily declining with only 35% to 45% of all family wealth being passed on to future generations.
Poor people believe that millions of dollars can magically be made as the consequence of producing absolutely nothing. Buying a lottery ticket and banking on “what ifs” is the ultimate get rich quick scheme if there ever was one–and poor people readily buy into it to the tune of spending $73 billion dollars a year on lottery tickets.
Try this experiment:
Ask poor people if they play the lottery. Then ask a rich person. See for yourself if their philosophies about money and get rich quick schemes don’t clash and reveal to you all there is to know about the psychology and spending habits of poor people.
Poor people believe that money can be made out of nothing, overnight, without any effort and without any planning or willful execution.
The get rich quick crowd thinks that earning millions is based on random luck. And this is why they are poor and will remain poor.
Poor People Dream of Consuming Their Lottery Winnings
Poor people are consumers. Mr. Poor Post Office Guy above who spent his last $25 on a lottery tickets is living proof.
You may recall a viral news segment back in 2016 when a lottery player by the name of Isaac Carranza prattled about on camera that if he were to win he’d spend his winnings on “hookers and blow.”
That is the quintessential definition of poor people and their love of consumption–poor people plan to indulge in highly wasteful pursuits if they win the lottery. Instead of grabbing life by the reins and reining in their excess consumption (and staying poor), they believe playing the lottery is their ticket to endless consumptive excess.
Many of my critics who read this blog have demonized me for insisting anyone can be rich. Take a look around you. With all the poor people who insist on consuming themselves into poverty, it’s fairly easy for anyone to get rich. You’re statistically more likely to become rich by doing the opposite of what poor people do than playing the lottery.
Broke people live to gamble on broken dreams. They believe winning a million dollars is the only way they could ever become a millionaire. And they’re probably right. Spending yourself into poverty is much easier than painstakingly planning for years on becoming truly wealthy.
Poor people dream of the opportunity to spend millions. Wealthy people plan on spending their lifetime building empires. Which do you think requires the most effort?
Not Having a Plan in Place to Become Rich for Certain While Banking on Horrible Odds and “Lady Luck” is for Poor People
My father was a lifelong gambler who died penniless. He committed suicide when I was 22 years old due in part to his gambling addiction.
By the time he passed away destitute, he couldn’t afford the monthly payment on the $110,000 home he lived in.
He always blathered the same cliches:
“Someday my ship will come in!”
“When I win big money you’ll see all our dreams will come true!”
“I got my ducks in a row. I’m just waiting on my big payday!”
Year after year it was horse racing, craps, blackjack, football cards, poker slots and keno. In the 30+ years he spent gambling he only ever won $5000 one time on keno years before I was born.
Ponder that for moment.
He spent upwards of hundreds of thousands of dollars on gambling and won $5000, ONCE.
He would argue he “won” thousands in free meal comps, shows and hotel rooms. These “freebies” weren’t free because he had to lose hundreds of thousands of dollars to “win” them. The casinos did it to ensure he never had to leave the building so he could continue gambling away every dime he had.
My mother worked at the airport as a snack bar attendant making $5.25 an hour. He often had to borrow money from her at the end of the week because he didn’t have any money left to put gas in his car to get to work.
My father taught me how to respect my money by forcing me to watch him lose all of his money year after year for decades.
Most people’s parents teach them how to run the family business or how to invest in the stock market. My father dying penniless taught me the real value of money. I’ve gambled maybe 3 times in my life. I won $60 once and lost $20 the last time I ever went near a slot machine.
In the near future I plan on telling the story of my father’s tragic death. His financial situation was a very common one–one that helped me understand poor people’s relationships with money.
How can I become rich without playing the lottery?
There are a lot of ways to become rich. Playing the lottery is not one of them.
In the meantime:
- You can start by forgetting about banking on random miracles and start fully investing in yourself
- You can begin by taking that lottery ticket money and putting it in the bank
- You can become rich by spending every moment of your time creating and producing and funneling it into a successful business
- You can get rich by taking control of your finances, getting out of debt and getting your money to finally work for you
- You can get rich by letting go of the fast food get rich mentality of the poor masses and focusing on building real wealth
All those financial guru blogs tell you to “pay yourself first.” I wholeheartedly agree. Put that lottery ticket money back in your pocket and you’ll be that much richer.