LOTTERIES: Bargain or Risk

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Under this title LOTTERIES: “Bargain or Risk” we are going to make a small review of emotions, both from the player”s point of view and from the point of view of any gambling organizer.

In the world of lotteries both “Bargain and risks” can affect both game parties, and that is precisely what makes it interesting.

Lottery, draws or bets bargains

 For the player can be a bargain because a little money spent on purchasing a ticket can provide a huge amount of money depending on the amount of matching numbers, and this usually ranges from simply returning the amount played and a pre-set amount as a maximum prize (which can represent 20,000 times the amount played in the Christmas lottery).

In the rest of lotteries, draws and bets, the profitability will vary depending on the earnings.

For the organizing body It is always a bargain. In lottery draws with tickets with pre-established numbers, in which it wasn’t possible to sell all the available tickets, all the prizes that could correspond to these unsold tickets will be added to their own benefit, in addition to small prizes that are not claimed for multiple reasons (the player forgets, lost or expired ticket, etc.) and more since 2013 there is a 20% tax on prizes above € 2,500 in Spain.

Lottery, draws or bets risks

For the player there are actually few risks in this case, except for losing the tickets or pass the expiration date. But the biggest risk is wasting money buying tickets which are not awarded. But the illusion for what the player can get is always greater than the investment made.

But… what if someone wins the jackpot?

The risk for the organizer with the traditional ticket lottery with pre-established numbers is not selling the amount of tickets necessary to cover at least the amount of the prize to be awarded.

This is not the case with the rest of lotteries and betting draws since the prizes are studied based on the amount collected. Usually 55% of the collected is intended to the prizes and its various categories.