Lotto and Recession

Lotto and recession aren’t words that are often used in the same sentence, but the two topics are more closely related than you might think. Whilst many industries suffer in times of recession, the lottery industry doesn’t tend to be one of them. In fact many lotto games tend to fare just as well, if not better, during recessions as they do when the economy is booming. So what exactly is it about lotto games that make them appear almost recession-proof?

Why are lottos recession proof?

There are actually several possible answers to that question, and to help clarify the issue we will now run through each of them in turn…

Financial Success

Achieving financial success during a recession isn’t at all easy because jobs can be scarce and business opportunities tend to be thin on the ground, but lotto games continue to give everyone a shot at winning a life-changing sum of money in bad times as well as good. If the idea of winning €15 million in the EuroMillions lotto game is appealing during times of economic boom then it is even more appealing in a recession when everyone is talking about going bust.

Affordability

The second reason why lotto games continue to do well in a recession is that they don’t cost much to play. In fact, when compared with the cost of a new console game or even a glossy monthly magazine, lottery tickets are positively cheap. This affordability is always useful, but when people are struggling with a recession it really becomes quite important. Cut out the glossy magazines and all people miss are a few articles that are quickly out of date, but cut out lotto tickets and they miss the chance to win themselves a fortune.

Charity

Buying a lotto ticket doesn’t just give the player a good excuse to dream of better days, it also helps those even less fortunate to experience better days right now. That’s because a percentage of money raised from lotto ticket sales is handed over to various good causes, and that percentage is a whopping 28% in UK lotto games. Whilst making charitable gifts directly might be a bit of stretch for some people in times of recession, buying a lotto ticket is a fairly painless way of helping a wide range of valuable and worthwhile projects.

Celebratory Spending

Because lotto games continue to be as popular in times of recession as they are in times of economic success, new lotto jackpot winners continue to be created on a regular basis. And what do lotto jackpot winners tend to do when they receive their millions? They enjoy a spending spree! This celebratory spending that almost all lotto jackpot winners indulge in to some extent is very good for the economy. In fact it could be argued that lottery winners buying new homes, new cars and expensive holidays is something that helps to bring the country out of recession far faster than would be possible otherwise!

It goes without saying that lotto games aren’t the most important thing in life, but they do a tremendous amount of good, especially in times of recession, and that means we can all take pride in playing our favourite lotto games no matter how the economy is doing!