Table of ContentsPsychological Explanation of Lottery PlayEconomic Side of LotteryConclusionLottery is considered one of the most sought after things in our modern society. With its affordable ticket prices and eye-catching advertisements, it manages to promise favorable fortune to the lucky person who manages to win the prize. All over the media, news of winners from across the country piques our interest in playing, given the huge sums of money and healthy lifestyle the lottery seems to offer. Here we would talk about lottery winners achieving all their life goals and even starting a business. However, the truth about the lottery has a more negative effect. Despite the bright path it seems to open for us, the lottery only leads this individual down the path of misery and depression. It brings out the worst aspects of a person and ruins the lives of millions, directly and indirectly. The State Lottery greatly harms both the economy and the financial and social lives of individuals. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay There have been several incidents where former lottery winners lost every penny they had won. Before winning a $2.76 million lottery jackpot in 2005, Lara and Roger Griffiths, from England, enjoyed a no-argument relationship. After winning, they bought the big house of their dreams and even took several trips across the country. In 2010, however, an accidental fire gutted their home, which was underinsured, burning through their money as well as their new lifestyle. Soon after, Roger left Lara for someone else (Abadi). Michael Carroll was 19 when he won the UK jackpot of £9.7 million, or $15 million, in 2002. But because of his natural tendency to spend his money on crack, parties, prostitutes and in cars, he was back to square one in just five years. years. He is currently hoping to return to his old job. (Abadi). After winning an $18 million lottery jackpot in 1993, Janite Lee lost everything in a decade when Lee, a South Korean wigmaker, burned it all for charity. She was a major donor to the Democratic Party, but it was her donation, along with some gambling and credit card debts, that caused her to file for bankruptcy in 2001 (Abadi). Psychological Explanation of Playing the Lottery Considering the experiences formed by lottery players, there is a level of psychology when it comes to playing. According to Kevin Loria, a ScienceAlert member, studies show that people are forced to buy tickets because "we have difficulty understanding how improbable a victory is" and we give ourselves reason to think that we might earn. Some research also suggests that the most frequent gamblers are those from low-income areas who are hoping to escape their financial situation. The research cited as the most "interesting" indicates that winning the lottery does not make people happier in the long term. Contrary to what most people believe, winning the lottery also does not make people more likely to embark on spending sprees that would leave them broken and unhappy, even though many people have done so. Some winners report being as happy as before winning, as if winning brings them very little happiness. Additional psychological tests have proven the small benefits of winning the lottery. A 1978 study on this subject, as ScienceAlert explains, compared 22 lottery winners to 22members of the control group, who did not earn any money, and 29 people paralyzed following accidents. After the test was completed, lottery winners reported being happier than paraplegics and quadriplegics, with scores of 4 out of 5 and 2.96 out of 5, respectively. The control group scored an average of 3.82 out of 5. However, lottery winners reported getting the least pleasure from what the researchers called "mundane pleasures." It was about the pleasant aspects of daily life, like having breakfast, etc. What was surprising was that lottery winners did not report themselves happier than non-winners, and accident victims reported being above the midpoint of the scale. Overall, winning the lottery didn't increase happiness as much as people thought, and a catastrophic accident didn't make people as unhappy as one might expect. Winning the lottery jackpot does not guarantee solutions to people's problems. There are many stories of couples and individuals whose lives crashed and burned after winning. Not having enough money can make someone eager to spend their winnings on everything they couldn't afford before. YourTango contributor Stephanie Castillo says it's a luxury. However, money can easily inflict stress and distrust in a relationship. In his example, one person may buy something under the other's nose, leading to a disagreement about wasting money. Both men will then end up questioning their spending habits out of fear of bankruptcy, leading to a disconnect between them, with money being what holds the relationship together and not themselves. Stephanie Castillo also talks about relationships becoming less sincere. Everyone is looking for friends with the highest number of numbers in their bank account. So when this person and their spouse become millionaires, they end up getting phone calls from friends they've been disconnected from or friends who were never really close. Suddenly the line between authentic and inauthentic becomes blurred. Everyone who is related to a lottery winner will appear to try to grab every penny they have. As Castillo said: “Pretty soon people will be asking for help, and you and your partner might start arguing about who you should or shouldn't help with your money. » The lottery is essentially a gateway to a whole new world. world that the winner will have to go through, which will lead him to find himself in a similar process after his victory. A FashionBends editor describes this life, commenting on the enormous amount of paperwork they are given as well as the fact that their names and hometowns are legally considered public information. That means reporters across the state will be sniffing them out (Staff Writer). Lucky lotto players are "becoming one of the most targeted brands in the world," according to author Andrew Stotmann, a securities attorney who has represented many lottery winners. Even if winners initially state that they would call someone close to them if they win, most real winners stay hidden as much as possible until they have enough lawyers or accountants on their side. Economic Side of the Lottery In terms of economics, the lottery's position in the matter is significantly questioned. Discussions are ongoing about whether consumers who purchase lottery tickets will be more beneficial than consumers who purchase regular products. Victor Matheson, professor of economics at the College of.