Dave Ramsey: Lottery Rip-Off Fact

Posted by admin on Tuesday, January 30, 2018

Dave Ramsey Money Quote saying The lottery is promoted, advertised and hyped by our government and statistically we have a better chance of being struck by lightning. Dave Ramsey said:
 

 

“The truth is that the lottery is a rip-off instituted by our government. This is not a moral position; it is a mathematical, statistical fact” — Dave Ramsey

 

 

In this quote, Dave Ramsey is referring to the statistical odds of winning the lottery. While some people do win the lottery, the chances of any individual winning are extremely low.

Mr. Ramsey is pointing out that from a purely mathematical perspective, regularly playing the lottery means your money has a very high chance of just going to the lottery operators rather than resulting in a meaningful payout.;

His position is that viewing lottery tickets as an investment strategy is misguided given the statistical unlikelihood of actually winning a large prize. He is not making a moral judgment on whether people should or shouldn’t play, but rather stating what the odds and statistics show about the lottery’s setup from a financial perspective.;