Some people think that the lotto is their way to riches, but it is very unlikely to win. In fact, a simple savings account will earn you more money in the long run.
Toronto, Canada (PRWEB) October 04, 2012
Art Branch Inc., the parent company of Canadafaq.ca today announces the publication of a new infographic, about the Canadian lottery winners and targeted at people who are trying to win the lottery. (http://www.canadafaq.ca/canadian-lottery-winners.php).
Developed by the web design and content development teams at Art Branch Inc., the new infographic is based on data provided by Statistics Canada. The information graphic combines images and facts on gambling spending to show why the lottery may be a bad bet. By comparing the chances of winning the lottery to being killed by lightning, the infographic illustrates that hitting the jackpot is a low probability event.
There are many reasons why people play lottery games. Some hope that they will be fortunate enough to win the jackpot while others do it because games are exciting. Everyone has equal chances of winning, irrespective of personal traits, age, intelligence, or background. Some people admit that buying lottery tickets is like throwing money away, but one-fourth of Canadians play weekly. The problem with lottery gambling is that low-income families spend more on tickets as a share of their household income. Given that people tend to under-report their gambling spending, some cash-strapped individuals give their bread and milk money for lottery tickets. Some call lottery gambling a cheap thrill, but statistics show that Canadian men spend between $763 and $881 on gambling per year.
“Some people think that the lotto is their way to riches, but it is very unlikely to win. In fact, a simple savings account will earn you more money in the long run. The bottom line – do something boring with your hard-earned dollars,” said John Wilson, marketing consultant at Art Branch, Inc.
While there are many investment instruments out there, spending hundreds of dollars on lottery tickets is a poor investment strategy. The chances of hitting the jackpot are extremely low, regardless of the estimated rate of return. People buy lottery tickets and hope that they will strike it rich. The truth is that one has to be a millionaire to have a real chance of winning. People who buy 50 tickets a week may hit the jackpot in about 5,000 years, as the infographic shows.
About CanadaFAQ.ca: CanadaFAQ.ca is an informational resource developed by Art Branch Inc. and designed to offer unbiased information on anything Canadian.
About Art Branch: Art Branch, Inc., located in Toronto, Ontario, is the parent company of Infographic.ca and has produced many consumer oriented websites targeting Canadian and international audience. The goal of Art Branch is to provide visitors to company sites with free, practical guides, helping consumers to make educated choices.