4 Kinds of People Who Buy Lottery Tickets

What kind of person buys lottery tickets and why? You get the dreamers who hope to win the jackpot to attain financial freedom. How about the lottery player who plays for the thrill of it? These are the entertainment seekers!  The psychology behind who plays the lottery is fascinating, but there are several other reasons someone buys lottery tickets regularly.

Let’s talk about what kinds of people buy lottery tickets regularly and why they do so. You may be surprised by what drives players to pursue that elusive but potentially huge jackpot win!

People Aged 30 – 64 Years Old

survey was done on two groups of young adults, one being those between 14 and 21 years old and the other focused on 18-year-olds and older. Numerous findings were discovered with lottery play continuing into the thirties and leveling out until the mid-late sixties.

The same study revealed that between 67% and 71% of the participants surveyed continued to play the lottery between the ages of 30 and 69 years. This was an increase from 48% of the group who bought lottery tickets from 18 to 21 years old.

If you’re wondering if it is ever worth playing the lottery, consider this one reason why people aged 30 to 64 years old could be buying lottery tickets. Many players see it as an opportunity to build a retirement nest. While the chances of winning the lottery are slim, this doesn’t stop players from taking a chance and hoping to add to their savings for their golden years!

People Aged 30 – 64 Years Old

Another survey carried out in the UK during 2019/2020 showed that the most common age group to play the National Lottery was between 45 and 64 years old. Their reasons for playing the National Lottery were because the prizes were big, it was easy to play,  and players were supporting good causes.

Two of the biggest US Powerball winners of all time fall into the 30 to 64 age group. Edwin Castro was 31 years old when he walked away with a cool $2.04 billion. Castro was an architect before his windfall and “disappeared” from social media for a few months after hitting the biggest jackpot ever in the history of U.S. Powerball.

The other big winner, Mavis Wancyk, was 53 years old when she bought a lottery ticket and ended up winning over $758 million. She quit her job immediately and fulfilled her dream to retire early. Both winners were hopeful dreamers seeking a better life for themselves and their families.

Lower Income People

Many lottery players come from the lower-income group with the lowest-income households in America spending up to $412 annually on tickets. While there are several theories as to why this group spends more than they can afford on lottery tickets, one that stands out is the “rags to riches” dream.

These players see the lottery as a “social equalizer”, giving them a chance to join the wealthy. Playing the lottery creates hope for material gains and improved financial and social status. While the odds of winning a scratch off card or any other lottery game are low, this doesn’t stop people in the lower-income quintile from dreaming big.

Lower Income People

Many lottery hopefuls come from households earning less than $10,000 and another study showed different reasons for playing the game. Some players on the poverty line reported that playing the lottery was a cheap form of entertainment. Many low-income earners see the lottery as a chance to radically change their standard of living, especially during harder times.

While there are many tips and tricks to win the lottery jackpot, many keen players agree on one thing and that’s to budget how much to spend on tickets. Whether you’re in the high or low-income bracket, make sure you play sensibly and within your financial means to prevent regrets when you don’t hit the winning numbers.

Races that Play the Lotto More

An updated collection of studies showed that non-Hispanic whites and Native Americans played the lottery the most.  The same report indicated that black Americans and Native Americans, on average, played the lottery on more days than other racial/ethnic groups in the U.S.

According to a later report from the Lottery Advertising Association for Consumer Research, an estimated 63.9% of black Americans play the lottery. This figure is higher than the 43.8% of Hispanics and 41.2% of the whites playing the lottery.

Indians are another race group that loves to play the lottery despite the game only being legal in ten states throughout India. It’s estimated that India has a potential lottery market size of over USD 33 billion with many players choosing to play abroad using online lotto platforms. If regulated properly, the Indian government could benefit from lottery revenues.

While most players, including Indians, can buy lottery tickets online, it’s important to play with licensed and regulated sites to protect yourself from scammers. Reputable sites include Lotto Agent or theLotter which is accessible to most players wanting to try their luck with MegaMillions or the Euromillions.

People Who Fantasize About Winning

Another type of person who plays the lottery is the dreamer! This player fantasizes about winning the mega millions and in most cases, why not? The lottery is a game of chance and there are numerous strategies for potentially winning the main prize.

People Who Fantasize About Winning

People who fantasize about winning the lottery jackpot have lifetime dreams they want to fulfil and many winners have done just that! Some of the top 7 lottery winners’ stories demonstrate how players manifest their wins. Cynthia Stafford was one such player who fantasized and dreamt about winning $112 million to provide for her cash-strapped family.

Guidelines for Playing the Lottery Safely

No matter which age group you belong to, which race you are, or how much you earn, it’s important to play the lottery safely. Here are some useful tips to keep you protected while having fun participating in the many lotteries available to players:

  • Set a budget: This has been already mentioned in the article but it’s worth repeating. Decide how much you can spend on lottery tickets every week and stick to your budget. This allows you to play the game without overspending and feeling disappointed when you don’t win.
  • Join a lottery syndicate: This option allows you to share the cost of tickets with other players, making it more affordable to play the game and stand a chance of winning a smaller prize. However, winners do share the prize with other syndicate members!
  • Pick a lottery that has the best oddsPlaying the easiest lotteries in the world can boost your odds of winning a prize. Games such as the Swedish Lotto offer cheaper tickets and a second chance game to win a decent prize.

Avoid getting scammed by “lotteries” such as the Jamaican Lottery scam which has lured many wanna-be jackpot winners to part with their lifetime savings. Stick with licensed lotteries and only use regulated third-party online or official lottery sites.

Final Thoughts

The demographics of lottery players are interesting and explain why many people buy tickets in the hope of winning a jackpot prize. Whether you’re a thrill seeker who loves the excitement of playing the lottery or a dreamer who wants to live the life of your dreams, make sure you play safely. Play wisely, take a chance, and hope that the next ticket you buy has been shined on by Lady Luck!

FAQs

What are the Odds of Winning the Lotto?

The odds of winning the Lotto are low with few winners walking away with jackpots. The odds of winning popular lotteries such as the U.S. Powerball stands at 1 in 292,2 million. EuroMillions players have a one in 139 million chance of scoring the jackpot.

Your chances of hitting the jackpot vary between games and calculating the probability of winning the lottery is a strategy used by many players. However, mathematics formulas used to calculate the odds of winning don’t guarantee you’ll win this game of chance.

Do Scratch Off Lottery Tickets Have a Higher Win Probability?

The odds of winning a scratch off card are higher compared to other lottery games. Depending on which game you play, you have a 1 in 3 or 1 in 5 of winning a scratch off ticket. However, the prizes are smaller and many players do recommend buying more expensive tickets to increase your winning odds.

Why Do So Many Lotto Winners End Up Broke?

Sadly, many of those who win the lottery end up broke and some winners say that their wins have caused more problems than happiness! Many lottery winners faced financial ruin after spending their millions carelessly. Others faced lawsuits, endless demands from family and friends for loans, and theft, causing them to be bankrupt.

Many lotto winners end up broke because they failed to employ a financial advisor, made bad investments, overspent on extravagant experiences, or didn’t remain anonymous. Spending your winnings wisely with long-term planning is the best way to protect your millions for the future.