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Are Lotteries Rigged?

Tuesday, August 18, 2020 17:27

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Are Lotteries Rigged?

Buying lottery tickets is a way to solve all your financial problems. At least that is what advertisements suggest. Every lotto player dreams of winning that life-changing amount of money. But the odds of winning are actually not very good. And what would be worse, is it possible that the lottery you love to play could even be rigged? Let’s take a look.

Nowadays, the lottery draws are being televised and supervised to a point where it is virtually impossible to manipulate the outcome. So, every participant has the same, although remote, chance to win the jackpot. But what about the entire setup of the lottery? And that is where the issues are, at least with some lotteries. You need to be aware of the fact that most lotteries are controlled by the state or country where they are held. And why do those countries or states organize the lotteries? They want to make some money, of course.

So, if you add all the money spent on lottery tickets, how much of that money is actually going to be paid out as winnings? With most lotteries, it is a relatively small percentage. A large part of the generated sales will be used to fund a number of projects, and it is the states or countries that decide what they do with your money. Sounds familiar? Right, you could say it is another form of taxation. Because that is exactly what it is. And you have no says in determining what the money is spent for.

Now you could say “I don’t mind that part of the money will be used for charities and other good causes”. But are you aware of the fact that some lotteries use up to 50% of the revenues for such good causes? Are you ok with that too? And there’s more.

What About Taxes on the Winnings?

After the lottery commission already takes a high percentage and uses it for whatever they see fit, you’d expect that if someone wins a large sum of money, they would get to keep that money, right? Well, in some countries, that would be the case. But many countries see this in a different way. They will charge taxes on the winnings as well. And that is why you could say that at least some lotteries are rigged – simply because you’re not just paying taxes once, but twice.

So Does it Make Sense to Buy Lottery Tickets at All?

Well, that depends on which lotteries you play. Let’s assume you live in a country where the lottery commission charges you twice because of a large portion of the sales are being taken out of the pot, and by taxing you if you win. It seems that you are being cheated, and personally, I would not buy a lottery ticket. If the lottery pays out a larger portion of the generated revenues, and the winnings are tax-free – then it’s another story.

Lotteries in Other Countries

Lately, there has been a trend towards participating in lotteries outside your own country of residence. Lotto ticket messenger services like RedFoxLotto.com have a large number of lotteries, for which you can order lottery tickets online. The way this works is quite easy and straightforward. You register an account with the messenger service, choose a lottery, pick your numbers, and pay online. Next, a local agent will purchase a lottery ticket in your name (with your numbers, of course), then scan it and upload it for you. If you win, you get paid – depending on the amount the process can vary.

The entire model has two major upsides. First, you can choose from a variety of lotteries, meaning you have the option of getting a ticket for whatever lottery currently offers the best payout. Second, you can restrict yourself to such lotteries that are tax-free. That is the case with most European lotteries because RedFoxLotto will buy the tickets for multinational lotteries in a country where lottery winnings are not being taxed.

Is it Legal and Safe to Use an Online Lottery Service?

An online lottery ticket service lives by its reputation, so it is very safe to assume that if you win, you will get paid. You have the ticket scan to prove that you participated with the numbers you picked. And actually, a big win is the best publicity the lottery ticket service could hope for. Besides that, the whole thing is legal as well. If you were to travel to the country where the lottery is being held, you could buy the ticket or tickets on-site. And if that ticket were to win the jackpot, you could rightfully and legally claim your winnings. Since RedFoxLotto actually gives you the option to personally pick up the actual ticket on-site, there is nothing illegal about the entire procedure.

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