Do you live in Europe? If you do, then this is a great change to become millionaire by spending a few euro... but is it worth to spend your money?
In just a few days, EuroMillions Jackpot will probably create another millionaire, and that millionaire can be you (or not)!
EuroMillions offers 13 different prize tiers, and the estimated jackpot is published prior to the draw. The exact value of prizes in each tier, including the jackpot*, is calculated according to how many tickets are sold in a particular draw and how many winning tickets there are in any given prize tier.
Players must pick 5 balls from a pool of 50 main numbers and 2 Lucky Stars from a separate pool of 12 numbers. This gives you an odds of Winning it 1 in 139,838,160... which means, the odd of winning is extremely low.
But are we investing some money to win 177 Million, or are we just gambling our money?
Well, the odds are what defines the limit between grambling and investment, but let's first look at dictionary.com and some definitions for gamble vs investment:
Gamble: "To bet on an uncertain outcome, as of a contest. To take a risk in the hope of gaining an advantage or a benefit."
Invest: "To commit money or capital in order to gain a financial return."
Gambling is entertainment, investing is business.
Investors are risk-averse, while gamblers are risk-seekers.
Investing is a continuous process; gambling is an immediate event or series of events.
Investing is the ownership of something tangible; gambling isn't.
Investing is based on skill and requires the use of a system based on research, while gambling is based on luck and emotions.
An investment is simply a gamble in which you've managed to tilt the odds in your favor.
So basically, in investing, the odds are in your favor; in gambling, the odds are against you.
When you gamble money on euromillions you are also somehow speculating (investing or gambling characterized by a high degree of risk and a high potential for reward).
Despite the possibility of high return, a gamble cannot become an investment, unless the prize was sufficiently large enough and you could actually buy all combinations to ensure you would at least break-even.
Personally for me, gambling on euromillions is also like trying to buy a dream, however, considering the possibility of spending a few euros in exchange for the (very remote) possibility of getting 177 Million euros... far exceeds my other opportunity costs.
For that reason, I'll be gambling on this too as I don't mind gambling 2.5 euros for "the possibility" of getting 177,000,000 euros on my bank account!
But how about you? Are you going to gamble or will you just call it nonsense?
awesome
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http://www.investorguide.com/article/12525/what-is-the-difference-between-gambling-and-investing/
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