A Guaranteed Lottery Pay Out

For those of you who are Watching the Million Dollar Neighbourhood on the OWN network, which stars our friend Preet Banerjee, you are missing an interesting bit of media spectacle. The show itself is pretty straight forward, and while Preet may seem quite stern with some of the families, my opinion is that he is actually holding back a fair amount (he certainly is more blunt in the conversations I have had with him (don’t get me wrong, I enjoy his candor, and actually wish he was more blunt on the show)).

Lottery Ticket from OLG

Not your Retirement Plan!

On the very first show of the series Preet had a great line, that I am pretty sure he wrote himself, which resonates with me very nicely. He was talking with a couple, where the husband is disabled, and is living on a fixed disability cheque, and the couple is having a hard time. In response to this hardship, the husband felt his only recourse was to buy lottery tickets (i.e. swinging for the financial fences).

Preet’s response was classic, and hopefully I have captured it accurately here, “If I could give you a lottery that has a guaranteed pay out of $2500 a year, would you take it?”. The husband responded that absolutely he would, and Preet’s response was classic:

“STOP BUYING LOTTERY TICKETS and you’ll have $2500 a year.”

I have ranted about Lottery Tickets and Casinos as a means of retiring early before, hence why I like the comment. Even living in Ottawa I am more likely to be bitten by a shark than I am to win on the Lottery, however remember The Shark Bite Story premise is what the Lotteries (aka the Government) is banking on you buying into , so you buy more lottery tickets.

Given yesterday was Super Bowl Sunday as well, and it is (I think I have heard) the most bet on event in the world (which is a sad statement), betting in general on sporting events is no better than Lottery Tickets (no matter how good a prognosticator you fancy yourself). As a basketball coach I have learned, sh*t happens and sometimes any team can win, that is why the game is played.

Oh, and the first person that says, at least the money from the lotteries go back into the community, gets a swift kick in the butt!

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