What's the Scenario?
Do you plan your trips to the casino solely because of discounts & giveaways?
Sam Savings Samantha

Savings Sam
"I don't buy into the hype. The cost of gas for my car to get to/from the casino usually null and voids the value of the deals they're offering anyhow."
Bonnie Balanced Bonnie

Balanced Bonnie
"My friends and I like to plan around them. If we've got a Girls Night Out coming up, we like to see what deals are being offered, to hopefully lessen the cost of our trip down there."
Ian Impulsive Irene

Impulsive Ian
"Of course I do! Who can turn down a free meal? Sometimes that $10 voucher they hand out is all you need to get ahead on the slots."

 

Part I

When you gamble in small amounts, like purchasing a weekly lotto ticket, sometimes it's easy to forget that over time, the cost of many small wagers can add up to a large amount.

What you play... and how often
Yearly Cost
Playing PowerBall+PowerPlay once a week $104
Entering betting pools with coworkers/friends ($25/month) $300
Purchasing $2 scratch-off tickets 3 times a week $312
Playing $100 on slot machines monthly $1,200
Buying into a Bingo game weekly ($30/week) $1,560
$50 of playing cards weekly with friends $2,600

Lotteries will often list the odds of winning as something like "1 in 36", meaning one ticket out of every 36 will win. What they mean by that is simply the odds of winning something. If you get a pair of matching numbers and win $3, that means you won something.

For Powerball, the odds of winning the jackpot with any given ticket are 1 in 146,107,962, because there are that many possible number combinations per ticket. For Mega Millions, your odds of winning the jackpot are 1 in 175,711,536.

Why not try putting a small amount of money into your savings account every week, instead of risking a financial loss to gambling?

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