Do Millennials Play the Lottery?

Is the lottery only geared towards Baby Boomers and older?

The following is an excerpt from my newest post at Suburban Finance:

Depending on where you get your information from, I can be defined as not only a Gen Y, but a millennial as well. I thought millennials were only in the 18-30 age range, but I have read in one article where the age was extended to 34.  This particular article describes how lottery ticket sales with the younger generation are on the decline.  

If you have read my post on lottery pools at work, you’ll know that when it comes to money, I’m not really a gambler. I only play because of FOMO (fear of missing out). I personally think it’s a waste of money and that money could be put to better use, but I don’t want to be that sucker in case of the event we actually do win the lottery.

My workplace consists of mainly an older demographic and as I have mentioned in my lottery post, many of them play the lottery outside of work. My dad, along with my aunts and uncles had their own lottery pool. Since my dad played (I’m not sure if he still plays, now that he’s been retired for a few years) the lottery quite often, he would always joke and say, “If I win the lottery I’m going to buy you this and that.” I would often laugh and tell him that the odds of him winning the big jackpot are quite slim.  I also told him that he should stop wasting his money.

Comments

  1. says

    My wife buys a lottery ticket (one line each week) but she doesn’t smoke, drink or go out partying so I can handle that much entertainment in her life. I think it’s about balance and what’s important to you. Some people go overboard with gaming especially when it’s a big jackpot or if they hit the casino. Responsible gaming they say as well as looking out for your own finances is important. Some may see it as a waste of money but I’m sure we could all pick something out of our lives that is a waste of money to one person and not another.
    canadianbudgetbinder recently posted…Protect your wallet from the pickpocket at the grocery store: The Grocery Game Challenge #5 Aug 25-31, 2014My Profile

    • makinthebacon says

      Very good point Mr CBB. You’ve just reinforced the reason why personal finance is well, personal. Everyone has different priorities in life.

    • makinthebacon says

      I would consider it quite rare for a person in their 20s to be playing the lotto vs. someone in their 20s gambling at the casino. Playing the lotto seems kind of boring in my opinion.

  2. says

    Yes millenials do play the lottery. But as a generation, we understand that the cards are stacked against us in lottery, we understand the odds, but most importantly, we are more risk averse. Growing up at a time when employement can be hard coming by, we appreciate every dime that comes our way and try to keep it there. Playing the lottery would take it out.
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