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About this Episode
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574 Lottery! The lost Friday Episode...
National Day: National Martini Day — Time to enjoy a classic cocktail (shaken or stirred).
Birthday: Paula Abdul (born 1962) — Singer, dancer, choreographer, and American Idol judge.
This Day in History: 1846 — The first recorded baseball game under modern rules was played in Hoboken, New Jersey.
"A Dollar and a Dream"
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Is the Lottery a Tax on Hope, or the Last Great American Dream?
Today we're talking about one of America's favorite pastimes. No, not baseball. No, not football.
Standing in line at the convenience store with a handful of losing scratchers and saying:
"Give me another one."
Americans spend over one hundred billion dollars every year on lottery tickets.
More than many forms of entertainment combined.
And yet virtually everyone knows the odds are terrible.
You have a better chance of being struck by lightning.
You have a better chance of becoming a professional athlete.
You have a better chance of being elected President.
Yet every week millions of Americans willingly hand over money for a chance at instant riches. Why?
Today we're going to find out.
Who Actually Buys Lottery Tickets?
Contrary to popular belief, it's not just little old ladies buying scratchers at the grocery store.
About half of American adults buy lottery tickets at least once per year.
The heaviest spending comes from:
Adults between 30 and 64
Working-class households
Lower-income communities
Regular players rather than occasional jackpot chasers
One of the most surprising discoveries is that a relatively small percentage of players account for most of the spending.
The lottery isn't funded by people buying one ticket during a billion-dollar jackpot.
It's funded by people buying tickets every week, sometimes every day.
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The Psychology of Hope
Nobody buys a lottery ticket because they think they're going to lose. They buy hope.
For two dollars:
* The mortgage disappears.
* The credit cards disappear.
* Retirement becomes tomorrow.
* The boss becomes optional.
For a few days, people get to imagine a completely different life.
That's powerful.
The fantasy may actually be worth more than the ticket.
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SHOW CREDITS:
Thank you to my co-host, Ken Madden of MaddK Studio
Audio credits and Producer Jason Radosevich Horrible Designs
Cast:
Kate the Duchess of NJ and John Jamingo of theBoomer Bunker
Aaron of I had to Say it
Boomer Bob of the Boomer Bob Show
Lorenzo from Misanthrope Radio 2.0
Cody the Beard as the Last Word.
Supporters:
Steve McShane of the Razor Wire News
Josh Roberts from New Hampshire
and you can always leave a comment by email: [email protected]
Hosts & Guests
No transcript available for this episode.
