Money spent on lottery tickets would grow quickly if invested instead, study finds
Many people know the odds of scoring the Mega Millions jackpot are 1 in 302 million — so it’s astoundingly difficult to win. But what they don’t know is that by just investing that money wisely they could still win big!
Americans spend close to $73 billion on lottery tickets during a typical year, based on U.S. Census data. A study by MoneyWise.com shows that if that money was invested in stocks instead, it has the potential to grow quickly and impressively — by $26 billion within two years. For example, if Kentuckians had invested the $921 million they shelled out for lottery tickets in 2016, that pool of money would have grown to $1.3 billion by the end of 2017!
Dov Gertzulin's DG Capital has had a rough start to the year. According to a copy of the firm's second-quarter investor update, which highlights the performance figures for its two main strategies, the flagship value strategy and the concentrated strategy, during the first half of 2022, both funds have underperformed their benchmarks this year. The Read More
Even though it may feel like just a few dollars at a time, over time lottery spending really adds up. In fact, in Massachusetts, West Virginia and Rhode Island the average per-person lotto spend is over $500 a year! You can check out the average lotto spend numbers per state in this Moneywise.com article.
JUPITER, Florida — Oct. 22, 2018 — Americans spend close to $73 billion on Mega Millions and other lottery tickets during a typical year, according to U.S. Census data, yet the odds of winning a big jackpot are overwhelmingly poor. But if that money were invested in stocks instead, it would grow quickly and impressively — by more than $26 billion within two years, a MoneyWise.com study finds.