Gambling as Investing – Part 1

I decided as an experiment to put $50.00 a week for the next month into gambling. Total “investment” of $200.00.

Since investing is sometimes seen as educated gambling, I’m trying to find out if you take the same approach to gambling will it pay off like an investment. If anything it’s worth a try… if not even worth a try… it’s just fun to find out what happens.

Lets say you make $100,000 a year… put 40% into savings, 55% in stocks, bonds, real estate… and the rest 5% into gambling. Gambling portion of the pie would be $5000 a year. I’ve heard, don’t know if this is 100% true, but scratch tickets pay about 50% back. So it would pay about  least $2500 back, unless you hit a larger jack pot (This is better than some stocks! Think GM, WAMU). Overall chances of getting any winning ticket is 1:5 according to the WA State Lottery web site.

So what happened today, THE FIRST DAY OF THE GAMBLING AS INVESTING EXPERIMENT

June 11 2009, Day 1: $20.00 went into 5 $2 scratch tickets and 2 $5 scratch. No tickets were winners which was quite discouraging and made me realize why I don’t gamble in the first place.

Remaining $$$ for the week $30.00. What to do next??? Any suggestions out there???

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