Winning the Lottery

If I won a large sum of money in the lottery on the order of $300 million, I would take the instant cash pay out which would probably reduce the winnings to $175 million then to avoid paying taxes on my winnings I would immediately reinvest the money in the lottery buying $175 million quick picks. If I lost all my money I would know it just wasn’t meant to be. If I hit the lottery back to back then I would just resign myself to the fact that I am a lucky person and my luck knows no bounds.

I am sure there would be a few media opportunities for a guy that would re-invest his lottery winnings. I would take my five minutes of fame and then I would get back to living my life.

I rarely buy a lottery ticket and when I do it is to be part of a group of co-workers and I really have no intention of winning. The social benefits far outweigh the cost of the ticket and therefore it becomes a rational decision for me, even if I place no value on the chance of a monetary return. In simple terms it is easier to throw in five bucks than it is to tell the women in the office no.

I am sure many people are reading this thinking of how preposterous it must sound. Now take a minute and think about the thousands of people playing slot machines in casinos throughout the world. Are they not using this very strategy for the exact same reasons? I say that they are.

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