This is the sixth article in the Lotto Lies series. The lottery is a very popular game played by people all over the world. It’s fun, exciting and easy to play and, if played responsibly, it’s inexpensive and not going to cause financial harm to anyone playing. So, when someone asks me for my Best Lottery Advice, I tell them to play the lottery for fun and entertainment.

Playing the lottery is a personal choice and I have no problem with anyone that chooses not to play. However, I’m amused by the reasons that some people give for not playing. That’s why I’ve included Lotto Lie #6 in the series. Lotto Lie #6 is the lie people give themselves.

Lotto Lie #6 – I don't play the lottery because that's gambling.

Ooooh PLeeeease!

Now, if someone doesn’t gamble because of some deep, heartfelt religious belief, I’m fine with that and even respect their decision. But, many times I sense that such statements are made by people who believe that they are somehow superior and are staking out a claim to some moral high ground. The fact is they are so out of touch with reality, they don’t even realize they are lying to themselves.

A Morally Superior Checklist

Here’s a partial checklist you can use to help distinguish the self proclaimed moralist from an actual true believer.

#1: Do they have an IRA or participate in a retirement investment plan through their employer? Here they are taking a large portion of their income and choosing which Mutual Fund to place it in. Many people can’t even tell you what Mutual Fund their money is in. If they can, they have probably never seen the prospectus. Their hope is, as it is with most of us, that the Mutual Fund will do well, but there is no guarantee.

#2: Do they invest in any stocks or bonds? Many people take their discretionary income and buy stocks and bonds as a hedge against inflation. Some do it because they fancy themselves as the next Warren Buffet and are going to make a killing on Wall Street. Regardless of their motivation or delusions, there is no guarantee.

#3: Do they buy Gold or other precious metals as a hedge against inflation? Doing so is a highly recommended strategy and, if they have the resources, they should do so. But, as is the case with all things, the prices go up and the prices come down. There is no guarantee.

#4: Do they have Insurance? Now, let’s see. There is Life Insurance, Health Insurance, Disability Insurance, Home Owner’s Insurance, Fire Insurance, Flood Insurance, Earthquake Insurance, Subsidence Insurance, Car Insurance, Renter’s Insurance, Boat Owner’s Insurance, Business Insurance, etc. In fact, you can find a short list on Wikipedia of 76 different kinds of Insurance. Insurance is a bit different, though. With Insurance you’re spending money for something you hope will not happen. But, there is no guarantee it won’t.

#5: Are they buying a home or investment property? Anyone who has ever done this was hoping that the property value would go up; not down. Given the resent housing crisis, how many people’s gamble paid off? Prices go up and prices come down. There is no guarantee.

Gambling Means No Guarantee

Insurance Actuaries can tell you what the odds are that you will have an accident on your way to work if you live in Slippery Rock, Arkansas. Therefore, you must be gambling every time you go to work. You are gambling when you go to the super market. Is the meat tainted? We live in a world that is filled with risk and, whenever you take a risk you are gambling. Whenever you spend money without a guarantee, you are gambling.

For those that have so deluded themselves into believing that they have staked out the moral high ground because they don’t gamble, please, do the rest of us a favor. Get in your insured car, drive back to your insured home, see how your IRA is doing, check out the status of your stock portfolio and pat yourself on the back for having the moral strength not to play the lottery. But, spare us the lecture. Spare us the moral platitudes.

So, if you are playing the lottery, the Best Lottery Advice I can give anyone is to have fun, enjoy the game and use the Best Lottery Software you can find.

Look for the seventh article in the Lotto Lies series; “Best Lottery Software – Using software is cheating.”