Is lottery a good idea free essay sample

Lottery is one of the best things that has ever happened to human kind especially those that dream high and but their dreams don’t come to life because they don’t have what it takes to make it happen. Lotteries are in various categories such as sweep stakes, scratch off, the Jackpot and even the green card lottery. The lottery that is being focused in this argument is the jackpot one. When individuals or people in general buy the lottery ticket their hopes are high, and they anxiously await with anticipation hoping to win. If they don’t win, they never give up, for they know that there is always next time and they keep playing. Some people urge that playing lottery is a bad idea because people end up getting addicted to it, or that it affects them psychologically. They could lose friendships and family members trust in some way. We will write a custom essay sample on Is lottery a good idea or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This could be true to some extent, but the possibilities of what happens after people win the lottery is in their hands. People buy lottery tickets and spend their money on it for all sorts of reasons. They want to pay off their bills, go to vacations, buy a car, or maybe a new home whatever situation they are in people have hope that lottery can fix it. It is some kind of a rescue fantasy. It’s like their money is buying some kind of hope for them. The moment they spent that dollar, they can’t help but to think what their life will be like if they win. Where they will go? What they will buy? The list goes on and on. I urge that lottery is actually a good idea, especially if people are intelligent enough to play wisely, and use the money they’ve won to create a life of endless possibilities. The arguments below are some of the reasons why lottery is a good idea. When individuals play lottery the one and only thing that is in their mind is the money. This is so because in the world we live in, money is the way people get the things they need and want. When the buyer finds out that their ticket has winning numbers, especially the huge jackpot they will jump with joy. The new money will change a lot of things in their life. All of a sudden they have money to buy things they want. This also means that their economic and social status changes too. One example is of a woman in California who won $112 million. She gave her brother and father some money. She also gave some money to a charity program to fund an art program for children. This is one of the examples that people who win the lottery can do so much with the money since their live hood is elevated, they belong to the Elite. Just like this woman, people get happier as their money increases to the level where they are pretty much comfortable. Also their mental well-being improves. Things can only get bad if people fail to plan when they have that winning ticket. The first thing people have to do is to give themselves time to get used to the wealth before they start spending it. They need to plan ahead if they have to do well. They need to decide where they will be in years to come to avoid from â€Å"riches to rags† scenario. People feel overwhelmed if they don’t have a clear life goal. Winners should also be able to have a team of financial and legal advisers. They have to choose a Lawyer and Accountants so they can work together to help them. Carefully check each of them and make sure there is nothing in their files that has been filed against them. People also need to live within their budget, invest wisely, and pay off all the debts they had. That way the will not have too much burden on their heads. They also need to plan to give some of their money. Pastor Binney at winners praise center once said that: â€Å"When people give money away, it makes them feel good and gives them the sense of appreciation on what they have. † The more people give the more the blessing comes their way and the more they feel a sense of security and stability. People also need to invest in making memories for themselves. Appreciate what they have as their life is changing in a better way and their dreams are coming true. Lottery also plays a role in most states. The history of lottery started long time ago in the early history of America. The online gov. info library states that â€Å"Lotteries were frequently used in colonial-era America to finance public works projects such as paving streets, constructing wharves, even building churches. In the 18th century, lotteries were used to finance construction of buildings at Harvard and Yale. † This shows that lottery has been around for a long time. Today, most states have adopted lottery system especially the computerized ones like mega millions and Powerball due to the world advancing technologically. This is so because these states have seen the growth of income that come from lotto. Each state has rules and time frames in which a prize can be claimed. Some states allows people to be anonymous like Ohio while others don’t have that option. For example, in Indiana winners have 90 days before they claim their prize and their identity is revealed. In cases where the winning ticket isn’t claimed, the state will get back all the money that it contributed to the unclaimed jackpot. The money is distributed according to state rules. Even if the winner comes forward, every state that participates in lottery selling benefits from it. The state imposes both federal and state taxes on the winner. Winners have a choice to take a pay out as a lump sum or as an annuity. If the payment is lump sum, taxes are paid out at once and annually if the prize is taken as an annuity. These winnings, of course, are subject to withholding for federal and state purposes. Even if the state doesn’t have a winner, they still benefit from it. After giving out the prizes, whatever the remainder goes to the state, and it’s up to the state to decide what to do with the money. In most states, these lottery proceeds are used for education purposes. For example, in New York, a certain percentage of the state’s total education funding to local school districts come from lottery ticket sales. In California by state law, the money from lottery sales is used to supplement funding to public education on all levels from kindergarten through higher education. That has translated, since 1985, to $25 billion for public education. In Georgia as a result of funding through the lottery, more than 1. 6 million students have been able to attend colleges through Georgia’s HOPE scholarship program and more than 1. 3 million four-year-olds have attended pre-kindergarten. (Forbes writer) In Some states like Texas, they use the money they get from lottery tickets sales and winnings to Fund for Veterans Assistance. Pennsylvania state website states that, â€Å"lottery sales in benefit senior citizen programs. This program involves serving food at the senior centers and as well as delivering them to senior homes. It also helps to lower prescription drugs for senior citizens. Pennsylvania is the only state in the US that use the lottery money especially for this reason. As of last year, lottery sales have provided about 22,700 hot meals for older residents. While in Wisconsin the lottery sales go towards lowering property taxes. In his document Al Runde explained that â€Å"†¦the lottery tax credit has been the primary mechanism for providing property tax relief. † Even though sales tax are not imposed on lottery sales, but the state have an advantage in sales tax increase. These sales taxes are generated from the sales people make when they go to buy a lottery ticket. One might buy a pack of cigarettes, a cup of coffee, or candy at the counter while they’re checking out. Lottery also plays a role in helping to support small business in the country. Lottery retailer gets a percentage from their ticket sales. Hoosier lottery website states that Indiana lottery offers programs that are profitable for retailers including commissions on the sale and redemption of Hoosier Lottery tickets and a bonus for the sale of a jackpot or top prize-winning draw ticket. There are also even opportunities to receive bonus dollars through retailer quarterly incentive programs. One time at Martins supermarket, they were giving people free Powerball tickets when the jackpot reached to the amount of $500 million. This shows that retailers really benefit from these lottery sales because if that has not the case they would not have been giving free tickets. It’s to their benefit. Another benefit of Lottery is found in the jobs created by these lotteries and the program they help to fund. In Oregon, their website states that 27% of Lottery funds are allocated for job creation and economic development, providing assistance for a variety of Oregon’s industries such as: manufacturing, high-tech, agriculture, fisheries, solar, medical, tourism, as well as small businesses. People are able to provide for their kids and loved ones. In conclusion, Frederick D. Stocker writes that â€Å"it now seems that by the end of the decade the lottery and other gambling revenues may be part of the revenue structure in a good many states. † Chances are that whether people chose to play lottery or not they still benefit in one way or the other. The states and the federal government also benefit from it in several ways. As for the individuals who play lotto all they need in enough education to make an adjustment in their lives.