Hans

@hans1671102377 · 29 Dec 2020

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Tax on stupidity 'The State Lottery'

The State Lottery has a denivellating effect and contributes to the decrease in the overall well-being of the population. Don't buy a destiny, says Nick Maatman.

Such a jackpot of millions of euros sounds particularly attractive. However, that enticing sum must be financed. The chances of you actually winning that jackpot are very small. Thus, the chances of being struck by lightning are greater. Lotteries have therefore been criticized regularly for years. Jokingly, lotteries are sometimes called 'tax on stupidity'.

There are few investments with a less favorable return than lotteries. The annual figures of the Staatloterij in 2019 show that the foundation has made a turnover of about 1.3 billion euros. Of this amount, just under 900 million was paid out in the form of prizes. Participation in the State Lottery thus yields a negative return of about 33 percent. If you participate structurally in the Staatlotterij, this means that in the long term you will get two euros back for every three euros you have spent on lottery tickets. Remarkable here is that #Staatsloterij still offers a relatively 'advantageous' return, because the prizes do not have to be paid a gambling tax.