Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/17/2013 (1 year ago)

Catholic Online (www.catholic.org)

We disagree with those who say it's a bad idea - here's why.

Is the $600 million Powerball jackpot worth your investment? According to the Wall Street Journal it isn't, however some may disagree.

Is it worth it to play?

Is it worth it to play?

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/17/2013 (1 year ago)

Published in U.S.

Keywords: Powerball, gambling, lottery, record, jackpot


LOS ANGELES, CA (Catholic Online) - The Wall Street Journal did the math and concluded that buying a ticket isn't worth the dollar. They provide the breakdown in detail here.

The conclusion is that you're highly unlikely to win, and you're probably going to have to split the jackpot with others. However, the article does admit that the proposal of a dollar for a million is better than many other long-odds bets out there.

From a mathematical perspective, the expenditure of the dollar isn't likely worth it when you consider your odds of winning, the splitting, and the taxes and so on, but we're yet to hear of a jackpot winner that gave up their prize immediately after winning it.

Therein lies the contradiction. Yes, it costs a dollar, but the WSJ article assumes you're buying a chance at the jackpot. In reality, you're not. In reality, you're spending the dollar for a fantasy, but it's the fantasy that makes it worth it.

We spend a lot of money on fantasies. We spend up to $10 on a movie ticket, we spend as much as $80 on a computer or console game. We spend money on alcohol, cable television, par-per-view and more. We buy things we don't need. So what's the harm in spending a dollar on a few minutes worth of fantasy?

For many, the greatest pleasure in playing doesn't come in checking off the winning numbers because you're not likely to see those anyway. It comes it deciding how you'd spend the money if you did win.

The fantasy plays out the same way every time. At first, you tell yourself that you won't let it go to your head. Then there's the part where you quit your job, then the part where you take a vacation. Then you buy a ridiculous home, a new car and so on. Somewhere in there, you hopefully remember to write an oversized check to your church or charity and you help someone in your family that's been struggling. You put your kids through college. You start a business.

These dreams have value, even if they are just that.

Great things have small beginnings. You may spend a dollar on a fantasy, and you will lose that dollar. However, if dreaming big inspires you to greater things in real life, then it's certainly worth the dollar. Moreover, if the ticket provides a momentary distraction from the daily grind, it's probably worth it just for that.

In other words, it's fun, so just enjoy it, even if you don't win.

So WSJ, we at Catholic Online respectfully disagree, with all the caveats about moderation, of course. So spend your dollar, and if you win, remember your family, your Church, and keep reading Catholic Online.

---


Pope Francis: end world hunger through 'Prayer and Action'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for October 2014
Peace:
That the Lord may grant peace to those parts of the world most battered by war and violence.
World Mission Day: That World Mission Day may rekindle in every believer zeal for carrying the Gospel into all the world.



Comments


More U.S.

How far will it spread? A New York doctor has tested positive for Ebola Watch

Image of 33-year-old Craig Spencer, a member of Doctors Without Borders, had recently returned to the U.S. after treating Ebola patients in Guinea.

By Catholic Online (NEWS CONSORTIUM)

A New York doctor who had recently returned from Guinea has tested positive for Ebola, the fourth person diagnosed with the disease in the United States. LOS ANGELES, CA (Catholic Online) - Craig Spencer worked for Doctors Without Borders where he was treating ... continue reading


Same-sex couples line up to be wed in Wyoming Watch

Image of After the state formally dropped its defense of a law defining marriage as a union between one man and one woman, Jennifer Mumaugh says that attitudes across the state have shifted in recent years to be more open to gay couples.

By Catholic Online (NEWS CONSORTIUM)

Same-sex couples began lining up around the block in Wyoming for marriage licenses this week. U.S. District Judge Scott W. Skavdahl, appointed by President Barack Obama struck down the state's gay marriage ban last week. LOS ANGELES, CA (Catholic Online) - ... continue reading


Will they riot after this? Autopsy, analysis shows officer Wilson was telling the truth Watch

Image of New analysis and witness reports suggest that officer Darren Wilson was being attacked by Michael Brown and shot him in self defense.

By Catholic Online (NEWS CONSORTIUM)

New evidence from Ferguson Missouri seems to vindicate the testimony of officer Darren Wilson, showing that the fatal shooting of Michael Brown may not be as cut and dry as many of the protestors in the area believe. LOS ANGELES, CA (Catholic Online) - According to ... continue reading


Is this a sign of things to come? 2014 midterm most expensive on record Watch

Image of Early voting has already started in several states including Kansas and Illinois.

By Catholic Online (NEWS CONSORTIUM)

Well underway, the 2014 midterms are set to be the most expensive midterms ever, according to projections that the Center for Responsive Politics released on October 22. LOS ANGELES, CA (Catholic Online) - While heavily overshadowed by global affairs like the ... continue reading


ACTIVE SHOOTER - Kids, teachers, community terrorized by admin, police at Thompson Jr. HS in Bakersfield in the name of safety? Watch

Image of Terrorization in the name of safety is still terror.

By Catholic Online (NEWS CONSORTIUM)

The latest school shooting did not make the national news yesterday because allegedly it was an act of domestic terrorism perpetrated against kids and a working-class community in the name of safety. For about 30 minutes on Tuesday, students, faculty, and their parents ... continue reading


Guns Do Not Have Rights, People Do. Legitimate Self Defense is One of Them

Image of Guns have no rights, only people do.Yes, one of them is the Right to Self Defense - and the Right to defend your neighbor. You may ask,

By Keith A. Fournier

We live in a precarious time in the United States of America. Many of us are deeply concerned about the effort to infringe upon the fundamental rights which were delineated in the Bill of Rights to the United States Constitution. I have written extensively about ... continue reading


Catholic school forbids Hollywood lesbian drama from shooting on location Watch

Image of In the scene to be filmed at the school, Moore's character, a New Jersey police detective with terminal cancer, applies for a domestic partnership with her partner, played by Page in order to pass on her pension legally after her death.

By Catholic Online (NEWS CONSORTIUM)

While actresses Julianne Moore and Ellen Page are big names in filmland, their largesse didn't get them past the authorities at Salesian High School in New Rochelle, New York. The catholic school has declined their request to use their location for a ... continue reading


On the Feast of St. John Paul II, His Prophetic Warning to the U.S. Requires a Response Watch

Image of Deacon Keith Fournier standing under the beautiful bronze statue of John Paul II in Denver, Colorado.

By Deacon Keith A Fournier

In an address given during that 1976 Eucharistic Congress in Philadelphia for the bicentennial celebration of the signing of the Declaration of Independence, Cardinal Karol Wojtyla spoke some words which I believe were prophetic. - We are now standing in the face ... continue reading


Guest Commentary by Ken Blackwell: Houston's Mayor is Endangering Civil Rights

Image of Ken Blackwell

By Ken Blackwell

In Houston, Texas, we have seen a bizarre twist on traditional Civil Rights play out. The Mayor of Houston, Annise Parker, has been waging an uncivil war on people who oppose the far-reaching homosexual rights ordinance she powered through the City Council. That ... continue reading


Suspected Indiana serial killer foiled by text messages Watch

Image of Darren Deon Vann is suspected in the death of a woman in Hammond - and possibly six more in neighboring Gary, possibly even more.

By Catholic Online (NEWS CONSORTIUM)

Darren Deon Vann told Indiana Police he "messed up" and expressed surprise that he was found so quickly, in the biggest understatement in recent memory. Vann is suspected in the death of a woman in Hammond - and possibly six more in neighboring Gary, possibly ... continue reading


All U.S. News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Ephesians 4:1-6
1 I, the prisoner in the Lord, urge you therefore to ... Read More

Psalm, Psalms 24:1-2, 3-4, 5-6
1 [Psalm Of David] To Yahweh belong the earth and all ... Read More

Gospel, Luke 12:54-59
54 He said again to the crowds, 'When you see a cloud ... Read More

Saint of the Day

Saint of the Day for October 24th, 2014 Image

St. Anthony Mary Claret
October 24: Claretian archbishop and founder. Anthony was born in Salient in ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter