Lottery, Lotto, and Scratch Tickets

Several people argue that lottery is very different from gambling and less dangerous. Some even state that gambling has absolutely nothing to do with lottery but the fact remains that lottery is in fact a form of gambling. Gambling is allowed by some governments while others have banned the game completely in all its forms. Some countries even arrange for government sponsored gambling like lotteries etc. The lottery form of gambling was banned even in United States and UK for a long time. Even sweepstake was banned because it was believed to be the most exploitative form of gambling. It was in 1960s that lottery was again allowed and gambling in the form of lottery and sweepstake started to thrive again.

Like all other forms of gambling lottery can also be very addictive and may result into waste of money on a large scale. The lottery win is regulated and taxed heavily in most countries. The lottery win can be cash or some object of value. Value of different lottery wins also differ and the conditions regulating the amount won will also very. Some lotteries hand out a lump sum cash prize while others pay winners in installments. The lottery win is taxable and you will be taxed on the amount you win. Some people tend to believe that winning a lottery will change their luck forever but they need to realize that the conditions attached to a lottery win may not leave you as rich as you imagined it would. Lottery results are openly announced and winners are often given their winning in a public ceremony but the real process starts after that. The winning is taxed and the pay terms of the amount won are decided upon.

Lottery numbers are generated through a computer generated algorithm that is hard to guess and replicate. This code is kept a secret so that fake claims are avoided. If a fake lottery claim is noticed and caught the punishment or penalty can be imprisonment for many years. Lucky draws and other small scale lotteries are commonly participated in. Most countries have their own national lottery that promises to give out a huge sum of cash prize to the winner. The national lottery is in fact a tool of the government to earn money. Lotteries are a main attraction of the middle or lower income groups and by engaging these tears into lottery the government earns from them. That is why these lotteries are called optional taxes and fool’s tax. The ratio of people participating in these lotteries would be a lot less if they knew about the reality of these lotteries.

Lottery may be sponsored or supported by a national government like the UK national lottery also called the UK lottery. Other small scale lotteries are state sponsored like the New Jersey lottery and NC lottery. Each of these lotteries have different rules governing their win and pay terms.

Participating in lotteries can also be addictive and these addictions should be controlled as good money is used to buy a one in a million chance. Logic is what can stop you from making such foolish choices. A lot of people have been conned by companies claiming to be lottery companies. These companies email a person or mail them a letter stating they have won a lottery even if they have never bought tickets for any such lottery. Later they ask for bank account details and transaction authorization so that they can transfer the money. Once they have the authorization they will very conveniently empty your bank account and leave you with nothing. One can never be too careful when it comes to gambling and lottery.