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If you really think about it, there are actually an amazing range of life’s situations that can be inherently risky. Nearly everything a person does is some form of gambling. Even with such mundane act of getting up and going to work, increases one’s probability of being killed in a transportation accident. In face of today and everything you know about investing, whether it be in business, an asset class (stocks, bonds, real-estate, cash and commodities), or index fund, even in its most basic element, it really is nothing but “betting” that someday tomorrow will probably be better with pleasant expected returns on investment; or perhaps not. There is only one big risk you should avoid and that’s the risk of doing nothing and not taking your chance.
Come to look at it in face value, investing within any money market really is, legalized gambling, per se. You may look-at investing when it comes to chart formation, or you put your hard earned money in the utilities anticipating when they are “due”, you cash in or again maybe not; or you decide to have any one of the hundreds of analysts culling spreadsheets or fund index investors work on the fundamentals of investing for you in manufacturing, real estate, cash and commodities-no matter what your reasoning for that, if that’s not gambling, then what is? Basically, you are betting that in 5, 10 or 15 years from now there will be more people, buying more stuff, utilizing more energy, dependent upon more gadgets-with hope that one can cash in; or even not. You are basically “betting” on all of it.
So it is, with the lottery-a type of gambling with origins in Florence, Italy, where the very first lottery (click for source) was held within the 16th Century, then called the Lotto de Firenze, and quickly adopted by other Italian towns. It became a national lottery, but still known today as the Lotto in Italy, as also adopted and called in many other countries, such as the USA. The lottery, as a form of government-licensed gambling, involves drawing of lots for an assortment of winnings as well as for the massive jackpot prize. Gambling, like poker, blackjack, roulette, sports betting and racing, can involve skill or simply chance alone; but the lottery won’t require any special skills-set to play.
As with any risk, there is always something at stake. Even if you choose to take the risk of starting a business, you stand to lose money, time and also your reputation. The same things you stand to gain whenever you take the opportunity to start your own business. The lots you buy to play the lottery are today within the type of tickets as well as the prize is usually a large sum of money. The draws are random and every player has an equal chance of winning the major prize which often grows really big with massive roll over jackpots.
