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December 30, 2006

New Years! Picking Up Tickets for the Lottery and Loteria Nacional

posted by MR WAVETHEORY at 12/30/2006 03:03:00 AM
It's New Years and people around the world are buying lottery tickets hoping to get lucky for the New Year. Personally, the odds of winning the lottery, any lotter for that matter, are so low that I personally don't think it's a rational thing to do. Even lower than the chances of starting a start up! Or making a successful venture capital bet! But hey, it's New Years! Out with the rational, in with the irrational!

So, I dug into it. It looks like people in Turkey are getting crazy about the lottery which has a grand prize of YTL 20 million ($13.5 million). In Turkey, the jack of 13 of the last 20 New Years lotteries have been shared by 4 people. But buyer beware because lots of hustlers are out printing fake lottery tickets.

Lottery Buyers in Connecticut on the other hand were out of luck. AT&T (NYSE T) was to blame. The phone lines connecting the machines didn't work! Personally, I think they really should try to at least spend some money on that old decrepit phone network. Jackpot: $88 million.

Question: What would you do if you won the lottery?
Most common answer: I don't know. Most people seem content paying for their kids education, buying a car, or paying down the mortgage.

An actual winner's answer: Quit my job, and travel around the world. That's what Mark Fielden did when he won 1 million pounds eight years ago. Now 55, Mark spends his time looking after hens, geese, cockatiels, doves and two dogs. Sounds boring huh? Yeah, maybe he would have had a more exciting life if he hadn't won!

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