Friday, June 26, 2009

Investing in gambling

Further to my recent rant about gambling, today's newspaper features the following letter (emphasis mine):
Share it around
Now that Oz Lotto has reached the absurd surplus of $90 million, isn't it about time it considered taking divisional prizes that have not been won and spreading them down through lower divisions in the same draw?
That way, those who have invested in a particular draw can enjoy a proper share of the prizemoney.
David Dolphin Summer Hill
Despite the fact that His Honour often refers to buying a lottery ticket as "Financial Plan B", it is not, in fact, an investment of any sort. It is, purely and simply, gambling. If David Dolphin doesn't like the odds, he should "invest" in something more likely to give him a return, such as hiding his money under his mattress.

1 comment:

kay susan said...

Beche, I'm with you. Anyone who thinks they are 'investing' in a lotto draw has the beginnings of a serious problem!