People often dream of winning a lottery and setting themselves up for life. Some people have been playing lotteries for well over 30 years and have yet to win a jackpot prize. How come, then, lotteries are so addictive? Addiction might not be the right word, but a promise of a prize with such low effort, that is a very different beast. Choosing a couple of numbers and winning a lot of money is something which is really tempting for most people, like Darrel C., who won 30,000 dollars on the Pennsylvania lottery scratch card game. That is a lot of money for just scratching on a card.
Here are some interesting facts about the lottery which you should know.
The Taxes – Do You Lose Money?
Yes, you do, is the short answer. Not all lotteries will tax the winners, but if a lottery does not take your money, you will almost surely be unable to transfer the money to your own account unless you want to have problems with your own country. Not all countries are as strict about taxing lottery winners, but have in mind that huge financial gains attract attention. The government likes its tax, and tax frauds are among the most frequent court cases, everywhere.
Lotteries are Not Legal Everywhere
When you think of a lottery, you think of a bunch of balls being thrown around in a bigger ball and random ones getting picked. This seems pretty harmless and it is for most of the time. Some countries are very strict about gambling, meaning that lotteries, which are by definition, gambling, are as illegal as poker or sports betting would be. Islamic countries come to mind, but Alabama and Alaska, as well as Utah, also have no lotteries of their own. Check whether gambling and lotteries are legal in your country, or the one you are visiting.
Online Gambling – Gray Areas of Gambling
With gambling legal in most countries, online gambling was by definition also legal. The problem with that is that most countries took a very long time to take a stance on online gambling, leaving people to do what they want without prosecuting them. That allowed for multiple online businesses to thrive in many countries, before stricter regulations were placed, making online gambling a much safer environment for everyone. That includes lotteries, which almost always require licenses. Whether the license is obtained from Malta or from the country in which the online lottery will operate in, a license is necessary for online lotteries.
Not All Lotteries are the Same
Have in mind that lotteries differ from one another. Some have odds which are far worse than others, which you could calculate, but the lottery officials often provide you with that information. If you plan on playing a lottery, make sure to check the odds, so you don’t end up playing one which has worse odds.
These are some of the many interesting facts about lotteries. Lotteries are gambling by definition and if you are tempted to play, play responsibly.