Placeholder Content Image

Pokies? Lotto? Sports betting? Which forms of problem gambling affect Australians the most?

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/alex-russell-133860">Alex Russell</a>, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a>; <a href="https://theconversation.com/profiles/matthew-browne-97705">Matthew Browne</a>, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a>, and <a href="https://theconversation.com/profiles/matthew-rockloff-569">Matthew Rockloff</a>, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a></em></p> <p>Gambling, especially sports and race betting, is a hot political issue at the moment.</p> <p>This is largely due to the recommendations from a 2023 report from a nonpartisan federal government committee, chaired by the late Peta Murphy, called <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/Social_Policy_and_Legal_Affairs/Onlinegamblingimpacts/Report">You Win Some, You Lose More</a>.</p> <p>This report <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House/Social_Policy_and_Legal_Affairs/Onlinegamblingimpacts/Report/List_of_recommendations">recommended</a> “the Australian government, with the cooperation of the states and territories, implement a comprehensive ban on all forms of advertising for online gambling”.</p> <p>This has led to lots of debate and controversy.</p> <p>Recently, Peter V’landys, head of the NRL and Racing NSW, <a href="https://www.smh.com.au/politics/federal/nanny-state-nrl-afl-storm-the-field-over-gambling-ads-20240920-p5kc2q.html">claimed</a> lotteries were more harmful than race and sports betting combined, citing independent statistics.</p> <p>Let’s explore the relative harm of different types of gambling and see if this claim holds up.</p> <h2>Australians love a punt</h2> <p>Gambling is widespread in Australia, with <a href="https://www.gamblingresearch.org.au/publications/second-national-study-interactive-gambling-australia-2019-20">more than half of adults</a> engaging in at least one form each year.</p> <p>According to the <a href="https://www.gamblingresearch.org.au/publications/second-national-study-interactive-gambling-australia-2019-20">latest national data</a>, lotteries are the most common type (40% of Australians buy a ticket annually), followed by race betting (17%), pokies (16%), scratchies (15.7%) and sports betting (9.6%).</p> <p>However, the popularity of a gambling form doesn’t necessarily reflect its harm. Different gambling activities have distinct characteristics.</p> <p>Two key factors mean that some gambling forms are more harmful than others: the speed of gambling and bet size.</p> <p>Pokies allow for frequent, small bets, with spins every three seconds. Race and sports betting can involve much larger sums and betting that is relatively fast, but still slower than pokie spins.</p> <p>Sports betting, in particular, is getting faster with in-play betting and <a href="https://pubmed.ncbi.nlm.nih.gov/30386964/">microbetting</a>.</p> <figure><iframe src="https://www.youtube.com/embed/hI_XFOc4is0?wmode=transparent&amp;start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">Poker machines, or ‘pokies’ are the biggest single source of gambling losses in Australia.</span></figcaption></figure> <p>Lotteries, on the other hand, are much slower-paced.</p> <p>People typically spend a small amount on tickets and wait for a draw to find out if they’ve won.</p> <p>Although it’s possible to spend a lot on tickets, <a href="https://www.qgso.qld.gov.au/statistics/theme/society/gambling/australian-gambling-statistics">people tend not to</a>, unlike with faster gambling forms.</p> <p>The average spend on pokies among the 16% who play them is around $4,782 per year, compared to an average spend on lotteries of $377 per year. These are averages. Most won’t spend these amounts but some will spend far more, which raises the average amount.</p> <p>V’landys’ claim about lotteries being more harmful than race and sports betting was based on “independent statistics”.</p> <p>He said that of 100 people seeking help from a gambling hotline, 70 had issues with pokies, 15 with lotteries, eight with race betting, four with sports betting, and three with casinos.</p> <p>We were unable to verify these figures – if anyone has the data, we’d love to see the research to assess them.</p> <p>However, we do have publicly available data.</p> <h2>What the data say</h2> <p>The NSW GambleAware website’s <a href="https://www.gambleaware.nsw.gov.au/-/media/ghs-annual-activity-report-2020-21.ashx?rev=e070f9c8bdbf4031816a852f27246c54&amp;hash=C5FC3AA23BE5F2EF69D551A5E2292BA9#:%7E:text=Of%20the%20clients%20receiving%20counselling,36.9%25%20of%20all%20female%20clients.">2020-21</a> report shows that of 2,886 people seeking help, 73.3% identified pokies as their primary form of gambling, while only 13 people (less than 1%) listed lotteries. Race betting accounted for 13.1%, and sports betting for 7.9%.</p> <p>These patterns were consistent with <a href="https://www.gambleaware.nsw.gov.au/about-us/corporate-documents">previous years</a>.</p> <p>People who experience problems also usually take part in more than one form of gambling, as the NSW report showed.</p> <p>When these secondary gambling activities were considered, sports betting was cited by 35.5%, race betting by 33.5%, pokies by 19.5%, and lotteries by 13.7%.</p> <h2>What we discovered</h2> <p>The best evidence on gambling problems and harm comes from large-scale prevalence studies, typically commissioned by governments and conducted by independent researchers.</p> <p>These studies offer high-quality insights into how each gambling form contributes to problems.</p> <p>While one prevalence study is great, our team recently combined data from seven national and state-based prevalence studies. This resulted in a very high-quality dataset that we can use to study this question.</p> <p>In <a href="https://akjournals.com/view/journals/2006/12/1/article-p182.xml">our analysis</a>, we used statistical techniques to show how strongly each gambling form is associated with problems.</p> <p>These techniques give us regression coefficients, which are just numbers that tell us how strong the association is. A higher number means a stronger association between that form and gambling problems.</p> <p>The most problematic form was pokies (coefficient = 0.147), followed by casino games (0.136), sports betting (0.068) and race betting (0.038).</p> <p>Lotteries, with a coefficient of 0.001, were the least problematic and were not statistically significant even in our large sample.</p> <p>As you might guess from such a low number, there’s very little relationship between lotteries and gambling problems.</p> <h2>What about prevalence?</h2> <p>Prevalence matters too – while pokies were most strongly associated with problems, the number of people participating in each gambling form is also important.</p> <p>Let’s consider an analogy – a car that gives out a lot of exhaust fumes. That car is harmful, but if virtually no one owns one, then it’s not going to account for much pollution.</p> <p>The same idea applies for gambling forms. If a gambling form is very harmful but very few people do it, it doesn’t account for many problems in the population.</p> <p>It works the other way, too – if there is a very clean type of car that many people drive, they also won’t add up to much pollution.</p> <p>Similarly, if we have gambling forms that have very little association with problems, it won’t add up to many problems in the population, even if lots of people take part.</p> <p>The regression coefficients tell us how problematic each gambling form is. Prevalance tells us how many people do it.</p> <p>When we combine these two bits of information, we can work out the degree of problems in the community that come from each form.</p> <p>When we did this, pokies were responsible for 52-57% of gambling problems in the community.</p> <p>Sports and race betting each contributed 9-11%, with a combined total of around 20%.</p> <p>Lotteries accounted for just 0.1-1% of problems.</p> <p>Even if we include scratchies as part of lotteries, this only adds another 2-5% of problems, still far below sports and race betting.</p> <hr /> <p><iframe id="quxHH" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/quxHH/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <hr /> <h2>The real issue</h2> <p>What’s the takeaway?</p> <p>Lotteries are widely played but are not typically associated with much harm.</p> <p>Sports and race betting, despite having fewer participants, are more harmful due to their faster pace and the potential for large, frequent bets.</p> <p>Lotteries involve slower betting and lower spending, making them much less risky.</p> <p>If we aim to reduce gambling harm in our community, the focus should be on pokies, which are widespread in pubs and clubs <a href="https://akjournals.com/view/journals/2006/12/3/article-p721.xml">outside WA</a>, casino games and race and sports betting.</p> <p>These forms have features that make them far more harmful than slower-paced gambling like lotteries.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/240665/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/alex-russell-133860">Alex Russell</a>, Principal Research Fellow, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a>; <a href="https://theconversation.com/profiles/matthew-browne-97705">Matthew Browne</a>, Senior Lecturer in Statistics, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a>, and <a href="https://theconversation.com/profiles/matthew-rockloff-569">Matthew Rockloff</a>, Head, Experimental Gambling Research Lab, <a href="https://theconversation.com/institutions/cquniversity-australia-2140">CQUniversity Australia</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/pokies-lotto-sports-betting-which-forms-of-problem-gambling-affect-australians-the-most-240665">original article</a>.</em></p> </div>

Money & Banking

Placeholder Content Image

Woman divides the internet over not wanting to share Lotto winnings

<p dir="ltr">A young mother has divided the internet after sharing that she didn’t want to split her Lotto winnings with her boyfriend. </p> <p dir="ltr">The woman took to Facebook to share that she bought the ticket on a whim and won half her annual salary as a result.</p> <p dir="ltr">Taking to social media, she explained how the awkward conversation with her partner unfolded. </p> <p dir="ltr">“I started to tell my boyfriend I was gonna put it towards my kids' college and do some upgrades to my house. He said, ‘what about my half?’,” she wrote.</p> <p dir="ltr">She went on to explain how the couple have the same yearly salary and how her partner said he could really use the financial help, but she doesn't want to share. </p> <p dir="ltr">“If I had won $6million I'd have no problem giving him half because it would be very easy to live off $3million. But 1/4 of one year's salary won't help me much,” she added.</p> <p dir="ltr">She also revealed that the couple would sometimes “daydream" about winning a lottery jackpot and would split a ticket every now and then, promising to go halves in the winnings.</p> <p dir="ltr">However, the mum said this time was different because it was a spur-of-the-moment ticket purchase and he wasn't part of it.</p> <p dir="ltr">The woman’s post welcomed a range of differing comments, with some people not appearing sympathetic to the young mum. </p> <p dir="ltr">“Is half the pot worth more than your relationship? If it is, you shouldn't be in the relationship anyway, so call it off,” one person said.</p> <p dir="ltr">Another person added, “Can you for two seconds not see how this is very petty? He didn't contribute 'this time'. I'm sure when he buys a ticket he's not thinking 'oh this one is for just me and if we win on these ones then we will share’.”</p> <p dir="ltr">However, some people were quick to stand up for her and tell her she doesn’t owe her partner half her winnings. </p> <p dir="ltr">“She isn't selfish for keeping the money, they didn't have an agreement this time, and why should he be entitled to it. She is better off spending it on her home and her children's future,” one woman said.</p> <p dir="ltr">Another added, “If he won $20 would he give you $10? If he won $1,000 would he give you $500? If the answer is yes, then throw the guy a bone, but if you don't live together, there's no ring on your finger, and the answer is no? Keep it.”</p> <p dir="ltr"><em>Image credits: Shutterstock </em></p> <p> </p>

Legal

Placeholder Content Image

"Tax the boomers": Outrage over elderly couple's complaint after $1m Lotto win

<p>A "greedy" elderly couple have been rinsed online after complaining about losing their age pension payments after they won the Lotto. </p> <p>The couple, aged 73 and 67, wrote into <a href="https://www.smh.com.au/money/super-and-retirement/we-won-the-lottery-but-lost-our-pension-could-we-have-prevented-this-20240702-p5jqga.html" target="_blank" rel="noopener"><em>Sydney Morning Herald</em></a>'s financial advice column with Noel Whittaker to ask how they could've prevented losing the government funds and still kept hold of their million-dollar winnings. </p> <p>The couple's submission read, "We are a couple... both retired and receiving the full aged pension. We recently won $1,000,000 in the lottery and have placed that money in a basic interest-bearing savings account with our bank."</p> <p>"We intend to use that money to buy a new house and sell our existing one but may just renovate. The windfall has stopped our pension completely until we spend the money, which is all good and well. But could we have prevented the pension loss in any way?"</p> <p>Whittaker responded that the couple should consider themselves extremely fortunate and enjoy the money, saying they "could have a far better lifestyle living off capital instead of relying on welfare". </p> <p>He also urged the couple not "spend to get a pension". </p> <p>The boomers' questions quickly drew attention online, with many flocking to Facebook comments to slam the couple for their "greed". </p> <p>One person wrote, "If you won the lotto, why would you want the pension?", while another added, "Ah yes, the call of the boomers everywhere, 'I have millions but where's my pension money?'"</p> <p>Others said the Lotto winners should consider themselves lucky they are now able to provide for themselves, with one person writing, "Pension is a support system to allow you to survive without/reduced work in retirement. If you are a multimillionaire then you don't need it."</p> <p>Another person echoed the sentiment, saying, "Wow, what entitlement. The pension is a safety net, if you don’t qualify for it think yourself lucky."</p> <p>Other social media users simply shared their outrage towards the boomer generation, as one frustrated person wrote, "Won a million and whinging they can't scam the taxpayers, what self-centered arrogance", while another added, "Tax the boomers! No more handouts."</p> <p><em>Image credits: Shutterstock</em></p> <div class="x6s0dn4 x3nfvp2" style="font-family: inherit; align-items: center; display: inline-flex; min-width: 604px;"> <ul class="html-ul xe8uvvx xdj266r x4uap5 x18d9i69 xkhd6sd x1n0m28w x78zum5 x1wfe3co xat24cr xsgj6o6 x1o1nzlu xyqdw3p" style="list-style: none; margin: 0px -8px 0px 4px; padding: 3px 0px 0px; display: flex; min-height: 15px; line-height: 12px; caret-color: #1c1e21; color: #1c1e21; font-family: system-ui, -apple-system, BlinkMacSystemFont, '.SFNSText-Regular', sans-serif; font-size: 12.000001px;" aria-hidden="false"> <li class="html-li xe8uvvx xdj266r xat24cr xexx8yu x4uap5 x18d9i69 xkhd6sd x1rg5ohu x1emribx x1i64zmx" style="list-style: none; display: inline-block; padding: 0px; margin: 0px 8px;"> </li> </ul> </div>

Retirement Income

Placeholder Content Image

$2 billion lotto win tears family apart

<p>A man who won one of the biggest lottery jackpots in American history has been accused of cutting his family out of their promised share after winning $2 billion (AUD) in the Mega Millions jackpot. </p> <p>The unidentified man has been in a legal battle with his daughter’s mum since November, after he accused her of violating a nondisclosure agreement by telling the rest of the family about his fortune before their daughter's 18th birthday in 2032, according to the Independent. </p> <p>He bought the winning ticket in Lebanon, Maine on January 13 2023. </p> <p>The mum – identified by a pseudonym, Sara Smith – claimed that he was the one who told his family about his lotto winnings, not her. </p> <p>The man's father supported Smith's claim and said that his son told him about the win and all the things he planned to do with his new-found fortune, which he collected through an LLC in a lump sum of over $750 million. </p> <p>“February or March of 2023, my son came to my house … and informed me and my wife that he won a large amount of money in the Maine State Lottery,” his father wrote in new court documents. </p> <p>“I understand that my son has stated that he told me nothing about his money ‘other than the simple fact that I had won’,” the dad wrote. “That is not true.”</p> <p>He also claimed that he didn't ask his son for any money, but the lotto-winner allegedly made a bunch of promises, including building his dad a garage to fix up old cars, buying his childhood home, setting up a million-dollar trust fund and funding future medical expenses for his dad and stepmum.</p> <p>The lotto-winner also allegedly demanded his father to not talk to Smith. </p> <p>"I told him … ‘You are not the son I knew’,” his dad wrote in the filing.</p> <p>“He got angry, calling me a ‘dictator’ and an ‘a**ehole’. I have not heard from my son since, and he has not done any of [the] things he promised.”</p> <p>The half-billionaire refuted his dad and Smith's claims. </p> <p>“I made the mistake of telling my father that I had won the lottery without having him sign a confidentiality agreement,” he wrote. </p> <p>“Our relationship deteriorated quickly thereafter,” he continued.</p> <p>“I did not tell him what I was doing with my money, how I was going to benefit my daughter, or any facts other than the simple fact that I had won.” </p> <p>He also accused his ex-partner of trying to reveal his identity to the world and that she wrongly accused him of trying to kidnap their daughter after he refused to pay for her and her new boyfriend's vacation. </p> <p><em>Image: Shutterstock</em></p> <p> </p>

Legal

Placeholder Content Image

Spin cycle disaster: man puts winning Lotto ticket through the wash

<p>In a harrowing tale that's sure to wring out a chuckle or two, a man in his late 20s from <span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">Belmont, Western Australia, </span><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">narrowly escaped laundering his way out of a $2.8 million windfall – after nearly sacrificing his winning lottery ticket to the treacherous depths of his washing machine.</span></p> <p>It all started innocently enough at the Here's Luck Lottery Centre in Belmont Forum, where our hero – who very sensibly prefers to remain incognito – purchased what would turn out to be a life-changing ticket for the Saturday Lotto. Little did he know, his unassuming trousers would soon become the epicentre of a near-catastrophe.</p> <p>In a classic case of absentmindedness, our hero forgot to take his ticket out of his pants pocket before succumbing to the siren song of laundry day.</p> <p>"I forgot to take the ticket out of my trousers and put it in the washing machine," confessed the forgetful winner. "After five minutes I realised and stopped the washing machine to grab the ticket, fortunately, it was safe."</p> <p>Indeed, it was a race against the spin cycle as the man scrambled to rescue his potential fortune from a soapy demise. "I couldn’t think, I couldn’t sleep, I am still processing the win," he admitted with palpable relief.</p> <p>But our protagonist emerged victorious from this sudsy saga, managing to salvage his ticket just in the nick of time. With a sigh of relief, he made his way to Lotterywest HQ to claim his well-deserved prize.</p> <p>Lotterywest spokesman James Mooney chimed in, highlighting the importance of registering tickets to avoid potential mishaps of this magnitude. "For this player, it all came out of the wash okay, but it’s a reminder for players to register their ticket to prevent what could be a multimillion-dollar mistake," he wisely advised.</p> <p><em>Image: Getty</em></p>

Money & Banking

Placeholder Content Image

$280 million lotto winner cuts ties with "greedy" family

<p>Scotland resident Gillian Bayford went from rags to riches in an instant when she won the equivalent of a $278.36 million jackpot in August 2012. </p> <p>Thinking luck was finally on her side, Bayford didn't expect the amount of drama that came with the life-changing prize. </p> <p>It all began just 15 months after her lucky win with then-husband Adrian, who she split with allegedly due to the stress of managing the jackpot. </p> <p>Not long after, she spent $1,324,304 to pay off her family's debt, which included money that her late father Ian McCulloch and her brother Colin owed over a series of failed business ventures according to <a href="https://www.businessinsider.com/woman-won-187m-lottery-severed-ties-greedy-family-2023-12" target="_blank" rel="noopener"><em>Business Insider</em></a>. </p> <p>“My dad and brother built up one company after another and then closed them down,” Bayford said. </p> <p>“I’ve bailed them out of every debt.”</p> <p>She continued to keep her family financially afloat spending a total of $37.31 million on them, and even bought her parents - who were broke and living in a caravan at the time - a $522,388 penthouse apartment in eastern Scotland. </p> <p>But, according to the <em>Mirror</em>, that wasn't enough and her father insisted that she should give her brother around $1.5 million, for a new play-centre business. </p> <p>She obliged, and instead of thanking her, Colin now drives Audis with private plates, owns a $546,000 house and reportedly stopped talking to his sister. He even got married to his girlfriend without inviting Bayford to the wedding. </p> <p>“They have lost touch with where they’ve come from,” Bayford told <em>The Sun</em>.</p> <p>“They’re rubbing people’s noses in it by flashing their cash, which I think is downright nasty.”</p> <p>At one point her father even tried to take control of her winnings and even take a piece of her business. </p> <p>“It’s upsetting and raw,” she told the publication. </p> <p>“The money was supposed to make everybody happy. But it’s made them demanding and greedy.” </p> <p>She added, "they brought our name into disrespect in the village, and we had people threatening to torch the family house.”</p> <p>Bayford said that despite it all she takes pride in herself "because I know I’ve taken them out of a situation.”</p> <p>The lotto winner officially cut ties with her family in 2016 after they called her an embarrassment, while her mum Brenda McCulloch claims she’s heartbroken over the lack of contact with her daughter and grandchildren.</p> <p>“Gillian says that we didn’t try and get in touch with them, but if I’d tried she wouldn’t have let me,”  she said. </p> <p>Her mum also claimed that while her daughter was “generous,” the actual amount she gave her family was much lower. </p> <p>“Every word that comes out of their mouths is a lie. I wish them a happy life, but there will be no reconciliation now," Bayford refuted. </p> <p><em>Image: Getty</em></p> <p> </p>

Money & Banking

Placeholder Content Image

"She's my heartbeat": Man's touching move after mum buys him $730k winning lottery ticket

<p>A man from South Australia has vowed to shower his mother in gifts after she bought him a winning lottery ticket for his birthday. </p> <p>The man held one of the seven winning division one tickets, seeing him rake in a hefty prize of $738,668.19. </p> <p>The winning ticket was purchased by the man's mother, at the George Avenue Deli in Whyalla Norrie, north of Adelaide, with the family in disbelief at the extraordinary win. </p> <p>"My mum bought me this ticket for my birthday last week,” the man said.</p> <p>“I rang her yesterday after calling The Lott and she didn’t believe me at all.”</p> <p>The man said that while he is thrilled with the win, it still doesn't seem real. </p> <p>“Honestly, I’ve been holding off getting excited until the money is in my account,” he said. </p> <p>The grateful winner has promised to repay his mother for all she’s done for him by spoiling her “rotten” with his winnings. </p> <p>“She’s my heartbeat, she’s everything to me,” he said.</p> <p>“I wouldn’t have had a great birthday if it wasn’t for her, so I look forward to giving back to her.”</p> <p>The owner of George Avenue Deli, Lorna-Jane Anderson, said learning of the winning entry had been “wonderful news”.</p> <p>“There’s no doubt the local community will be happy to hear another Whyalla Norrie customer has won big with a ticket purchased at our outlet,” she said.</p> <p>“We’ve sold many major lottery prizes in the past two years and in fact, almost a year ago we sold a top prize-winning Instant Scratch-Its ticket worth $100,000."</p> <p>“We’re glad to hear the mystery winner has come forward to claim their prize and we wish him all the best with the win.”</p> <p><em>Image credits: The Lott</em></p>

Money & Banking

Placeholder Content Image

"Unsung heroes" win millions in Lotto draw

<p>A group of 50 hospital workers have had their lives changed for the better after winning a huge stake in Saturday's $20 million Lotto draw. </p> <p>The syndicate of healthcare professionals at Fiona Stanley Hospital in Perth had one of five division one-winning tickets, worth a staggering $4 million.</p> <p>The prize will be split between 50 hospital employees, with each of the facility’s “truly unsung heroes” set to receive $80,000 each.</p> <p>The syndicate included staff from all areas of the hospital, including nurses, orderlies, cleaners and supply staff. </p> <p>“I immediately ran down the corridor to my boss’s office,” the ticket holder said.</p> <p>“Then I messaged the group chat to let everyone know, and called those who aren’t on social media to share the good news."</p> <p>“This will be life-changing for a lot of people, and some really touching stories have come out of this experience.”</p> <p>The same group of dedicate Lotto ticket buyers have been trying their luck at a big win for more than a year. </p> <p>“I’ve had not much good luck. I lost my husband seven months ago,” clinical nurse specialist Genevieve Stacey said.</p> <p>“This is not just going to change our lives but the lives of our families as well, so it’s nice to have something good happen.”</p> <p>Some among the group will spend their winnings on family holidays and releasing mortgage pressure, while one staff member also plans to start her long-awaited IVF treatment.</p> <p>Fiona Stanley Fremantle Hospitals Group executive director Neil Doverty said he could not think of a group of people more deserving of the life-changing win. </p> <p>“These staff are often behind the scenes but play a critical role in the day-to-day running of our hospital and caring for our patients,” Doverty said.</p> <p>“They are truly unsung heroes and are incredibly deserving of this win.”</p> <p><em>Image credits: 7News</em></p>

Money & Banking

Placeholder Content Image

How Aussie maths whiz won the lotto 14 times

<p>Winning the lotto is more than likely a once-in-a-lifetime chance, but Aussie man Stefan Mandel defied the odds when he won the golden ticket 14 times using basic maths.</p> <p>The Romanian-Australian mathematician, joined by a small team of investors, discovered a remarkably easy way to hack the system in the 1980s and 1990s.</p> <p>Mandel’s first two wins were secured in his home country of Romania, where he was saving up to escape the then-Soviet Union before he won another dozen times in Australia.</p> <p>Surprisingly, Mandel’s system was not only straightforward but relied on very little of his mathematical training.</p> <p>The odds of winning the jackpot in the Australian Powerball are about one in 76,767,600, according to lotto land. If you want to double your chances with two tickets, the odds are still a mere 2 in 76,767,600.</p> <p>Mandel observed that in certain lotteries, the jackpot prize was much higher than the cost of purchasing every possible combination of numbers. Given he buys every ticket, he was almost guaranteed a return on his investment – so long as the winnings were split between several golden ticket holders.</p> <p>So, Mandel did just that.</p> <p>While it’s not completely against the rules, snatching up every ticket doesn’t quite resonate with the spirit of the game, and his winnings were astronomical.</p> <p>Mandel, now 89, convinced a group of investors to buy into the scheme over several years.</p> <p>He created algorithms that were able to generate and print the millions of different ticket groups required, which some lotteries allowed people to do at the time.</p> <p>With his pile of tickets printed and ready to go, Mandel and his team waited for a hefty jackpot, where they would purchase those tickets in shops.</p> <p>Mandel secured 12 wins on smaller lotteries Down Under before he sought out jackpots in the US with a sum far larger than anything he had won so far.</p> <p>While he won millions of dollars with his scheme, aiming for massive lotteries in the US proved to be his downfall.</p> <p>Mandel specifically had his sights set on the Virginia lottery, which was new at the time and only used numbers 1-44 in its draws. That meant there were 7,059,052 possible combinations, much less than the 25 million or higher that his team was used to.</p> <p>When the jackpot was high enough, around US$15.5 million, Mandel ordered thousands of investors to buy out the tickets in bulk.</p> <p>To Mandel’s dismay, some investors pulled out. After two days of purchases, the group secured about 6.4 million of the possible 7 million combinations needed to guarantee them the jackpot. Fortunately, the odds remained in his favour as he won the Virginia Lottery too.</p> <p>The FBI and CIA launched an investigation into Mandel, but no wrongdoing was found. Virginia Lottery had no choice but to pay up.</p> <p>Mandel won millions of dollars in the Virginia Lottery, including bringing home most of the smaller prizes.</p> <p>He later disbanded his team and retired to a beach house in Vanuatu, where he still lives.</p> <p>While Mandel’s scheme was legal at the time, it resulted in new rules for the lottery. Many countries, including the US and Australia, have since passed laws that stopped punters from buying lottery tickets in bulk or printing them at home, in turn rendering his methods impossible.</p> <p><em>Image credit: Twitter / Youtube</em></p>

Money & Banking

Placeholder Content Image

Disability pensioner calls himself the "unluckiest" lotto winner

<p>When a disability pensioner struck gold playing the lotto, he thought his luck was starting to turn, until a harsh ruling from Centrelink put a swift end to his celebrations. </p> <p>Craig Hill had never won anything playing the lotto, until his numbers finally came up last month. </p> <p>While it wasn't "the big prize", Hill claimed the second division win in The Lott's "Set for Life" draw.</p> <p>"The main prize is $20,000 a month for 20 years. But this was second division, which is $5000 a month, for 12 months," Hill said.</p> <p>It was a tidy sum of $60,000 to help pay off the mortgage.</p> <p>"It's probably the dream of every Australian to win," Hill told <em>A Current Affair</em>.</p> <p>"I'm very disappointed. I mean, you only ever win the lottery once. It's not a big prize."</p> <p>After he was notified of his winnings, he thought he would do the right thing and tell Centrelink of the money he was soon coming in to. </p> <p>"Initially, they said 'it's a lottery win, so therefore it doesn't affect your pension'," he recalled.</p> <p>"I rang back later and (they) said, 'because you're a professional gambler now, you're getting paid monthly, it does affect your pension'."</p> <p>If The Lott had paid Hill his winnings as one lump sum, it wouldn't have affected his fortnightly pension payments.</p> <p> </p> <p>But because his winnings are being paid over 12 months, Centrelink considers it an income from professional gambling.</p> <p>As a result, his pension has now been slashed from around $820 a fortnight to just $328, with his wife's carer's payment has been affected too.</p> <p>"When I said I wanted it reviewed, they said are 'we going to apply the $5000 to your wife's carers allowance … because that's welfare as well'," Hill said.</p> <p>Because of the lotto win, the couple is losing around $2000 a month.</p> <p>The pensioner tried to ask The Lott to pay the money as a lump sum, but was told it didn't meet its criteria for an exceptional circumstance.</p> <p>Now he's hoping for changes to be made to the rules.</p> <p>"It has taken me 40 years to win a prize of the lottery … apart from $8 last week," Hill said.</p> <p>"At 61 I really haven't got another 40 years to wait to win another one."</p> <p>Craig's message to Centrelink is, "I'm not your enemy."</p> <p>"I'm just a bloke that's struggling to make a living," he said.</p> <p><em>Image credits: A Current Affair</em></p>

Money & Banking

Placeholder Content Image

Woman shares why she planned to sue after winning multi-million dollar jackpot

<p dir="ltr">A UK woman who won over a million dollars through the lottery has described it as a “twisted fairytale” rather than a dream come true.</p> <p dir="ltr">Jane Park, who won the £1 million Euromillions lottery in 2013, said winning big isn’t all it’s cracked up to be, revealing that she has been blackmailed and threatened with violence ever since, per <em><a href="https://www.thesun.co.uk/money/19570621/jane-park-lottery-pleas-money-strangers/" target="_blank" rel="noopener">The Sun</a></em>.</p> <p dir="ltr">“The lottery should come with a health warning similar to smoking or drinking,” she said.</p> <p dir="ltr">“I understand they can’t make winning sound awful but they have a responsibility to not mislead the public.”</p> <p dir="ltr">After threatening to sue Camelot, the company that sold her the fateful ticket when she was just 17, prompted changes preventing those under 18 from having a gamble, she said the change doesn’t go far enough.</p> <p dir="ltr">Ms Park also wants ads for the game to be aired later at night - rather than during time slots that kids will be watching - and thinks that Lotto chiefs shouldn’t wait until someone wins to warn players of what’s in store.</p> <p dir="ltr">“The adverts should be aired later in the evening and advertising should be out of the way from children,” she said,</p> <p dir="ltr">“It sounds silly but children dream of either being famous or winning the lottery, and if it wasn’t so glamorised maybe there would be more ambition rather than gambling.</p> <p dir="ltr">“People always refer to the lottery as ‘playing the lottery’, but it’s not ‘playing’, it’s just plain gambling, apart from picking some number there is no game element to it.</p> <p dir="ltr">“How it wasn’t held to the same legislation as gambling from the beginning baffles me.”</p> <p dir="ltr">Ms Park revealed that she is bombarded with pleas for help in the form of cash from strangers and that she’s even proposed to on a weekly basis.</p> <p dir="ltr">“It may be parents with terminally-ill children or needing life-changing surgery. Uni students want me to pay for their education,” she explained.</p> <p dir="ltr">“I also get a lot of marriage proposals, I’d say I get at least one a week. It’s not from anyone interested in me, it’s from people interested in the money.”</p> <p dir="ltr">The Edinburgh native has previously spoken about her fight to increase the age limit, which she had planned to take to court until her cause became the subject of media attention.</p> <p dir="ltr">“I was prepared to go to court to get my argument known, but the media attention it received got my point heard by the right people and I didn’t need to go that far in the end,” she explained.</p> <p dir="ltr">“I know that is directly because of the attention I brought to the subject.</p> <p dir="ltr">“Part one of my mission was to have the age range increased, part two is to try and make advertising the lottery more truthful.”</p> <p dir="ltr">She added that it’s “wrong” that the lotto is glamorised as “dream come true money”, when in reality she described it more as a “twisted fairytale” where strangers ask about her bank balance daily.</p> <p dir="ltr">“I’m proud that I have invested my money wisely and nine years later I’m still living a good life,” she said.</p> <p dir="ltr">“It just feels like people are waiting for the day I become broke and homeless, but I won’t let that happen.”</p> <p dir="ltr">A spokesperson for the Department of Media Culture and Sport said the law was changed so that only those over the age of 18 could take part in the National Lottery, up from the previous minimum age of 16.</p> <p dir="ltr">“The National Lottery is regulated by the Gambling Commission and we will not hesitate to act further if we consider it necessary,” they said.</p> <p><span id="docs-internal-guid-ecf45aca-7fff-7df7-9cbc-ec78fdfc4615"></span></p> <p dir="ltr"><em>Image: @janeparkx (Instagram)</em></p>

Money & Banking

Placeholder Content Image

Retiree figures out how to win the lotto

<p dir="ltr">A retired couple have beaten possibly all odds when it comes to winning the lottery thanks to “simple math”.</p> <p dir="ltr">Jerry and Marge Selbee from Evart, Michigan, are multimillionaires because of a loophole in the gambling game.</p> <p dir="ltr">After retiring in 2003, Jerry decided to follow the lotto closely and discovered that it's easier than he thought to win, saying, “Anyone could have done it.”</p> <p dir="ltr">The retiree inspected the game called WinFall and found that if no one won the jackpot of US$5 million ($7 million AUD), then the money would go to ticket holders with fewer winning numbers.</p> <p dir="ltr">"I looked at the probabilities of the game and it said that when the WinFall actually occurred and no one won the jackpot, that the prize level would go up by a factor of 10," Jerry said on <a href="https://9now.nine.com.au/60-minutes/jerry-and-marge-go-large-lotto-tips-selbee-how-retired-couple-won-39-million/1e5093b5-be35-400f-a142-8ecdf0c289d0" target="_blank" rel="noopener">60 Minutes</a>.</p> <p dir="ltr">"US$50 for a three-number winner and US$1,000 for a four-number winner and the odds were one in, one in 56 and a half for a three-number winner and one in 1032 for a four-number winner."</p> <p dir="ltr">Jerry went on to explain that part of the problem when it comes to playing the lotto is that people think it is structured.</p> <p dir="ltr">"I did not have to be lucky to win. I had to be unlucky to lose."</p> <p dir="ltr">Almost akin to placing a bet on himself, Jerry decided to test his theory and realised that he was right – and quickly came clean to his wife Marge who was all for it.</p> <p dir="ltr">The couple would buy hundreds of thousands of tickets for the WinFall game – but disaster eventually struck when no more tickets were sold in their hometown.</p> <p dir="ltr">Soon the pair had to drive 15 hours to Massachusetts to keep winning a similar style of lottery with the same "loophole" structure, but it was something they were both keen to do.</p> <p dir="ltr">Eventually, they were caught out by investigators but Jerry and Marge were in fact not doing anything illegal.</p> <p dir="ltr">Their story eventually became well known to the point that a film is being made for streaming service Paramount+ and will feature Breaking Bad’s Bryan Cranston.</p> <p dir="ltr">Despite their lifetime of winnings – in the many tens of millions over the years – Jerry and Marge remain quite humble, spending their money on education for their grandchildren and great-grandchildren.</p> <p dir="ltr"><em>Images: Nine</em></p>

Money & Banking

Placeholder Content Image

Experts warn lotto winners about going broke after a win

<p dir="ltr">With the $120 million lottery prize winner announced on Thursday night, a financial expert has revealed a sobering statistic.</p> <p dir="ltr">“Most lotto winners actually go broke within a couple of years,” Adele Martin, a certified financial planner, said in news.com.au’s ‘I’ve Got News For You’ podcast.</p> <p dir="ltr">Speaking to podcast host Andrew Bucklow, she added: That’s all around the world, not just in Australia.</p> <p dir="ltr">“And that’s because, you know, if you’re not good at managing $100,000, you aren’t going to magically be better at managing $120 million.</p> <p dir="ltr">“It’s the same principles, just more zeros.”</p> <p dir="ltr">Mr Bucklow delved into that scary fact and it didn’t take long to discover some tragic cases of past lottery winners. </p> <p dir="ltr">Amy McCauley, who was a bus driver in New York, won US$15 million (A$20 million) in the 1990s. After the win, she was besieged by friends and family members asking for money. In the end, she fell out with two of her brothers, ditched most of her so-called friends, and moved to a town where no one knew her.</p> <p dir="ltr">UK-based Jane Park won £1 million ($1.87 million) when she was just 17 years old. She bought an apartment, two cars, splashed out on clothes and went on a number of holidays. But she later, said the win made her lonely and miserable.</p> <p dir="ltr">In an even more extreme case, British woman Callie Rogers won £1.9 million (A$3.56 million) when she was 16. She gave away half of the money to friends and family, then spent a further £300,000 on clothes and got three boob jobs.</p> <p dir="ltr">Abraham Shakespeare was 40 years old when he won US$30 million (A$41 million) in the US in 2006. He was befriended by a woman named Dee Dee Moore. She was convicted of shooting and killing Shakespeare and hiding his body under a concrete slab in her backyard.</p> <p dir="ltr">However, it doesn’t always end badly.</p> <p dir="ltr">Mr Bucklow spoke to a Western Australian gym owner who turned $5 into $80 million in December last year.</p> <p dir="ltr">She spent just $5 on a lottery ticket with a syndicate with another 54 other women from her gym. They got lucky and each took home $1.45 million.</p> <p dir="ltr">“I haven’t had barely anyone who’s asked for cash. I’ve given a little bit to family to help I’ve helped my children out but not one person has come out of the woodwork that you weren’t expecting to ask for money so it’s been great in that way.”</p> <p dir="ltr">She revealed she still runs the gym, working 12 hours a day six days a week.</p> <p dir="ltr">The group of gym-goers have entered again into tonight’s $120 million lottery, partly for the sake of those who missed out on entering the syndicate last time.</p> <p dir="ltr">As for how to avoid going broke after a big win, finance guru Ms Martin had a word of advice.</p> <p> </p> <p dir="ltr">If you win the lottery “the first thing you should do is to keep calm and carry on, which I know is easier said than done,” she advises. </p> <p><em><span style="font-size: 12pt; font-family: Arial; color: #000000; background-color: transparent; font-weight: 400; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Images: Getty</span></em></p>

Retirement Income

Placeholder Content Image

Lotto-winning couple ostracised by their family

<p>A young couple have shared how they have been "ostracised" by their family after refusing to share their Lotto winnings.</p> <p>Posting in the popular "Am I The A**hole?" Reddit thread, the man posted his story about how he and his wife, both 24 years old, buy a lottery ticket every month just "for fun".</p> <p>They were both shocked and elated when they won the $5.6 million jackpot, and they began to plan what they would do with the winnings.</p> <p>The couple paid off their personal debts, home mortgage payments, student loans and car loans, and had roughly $5 million left.</p> <p>“In case you don’t know 70 per cent of lottery winners go broke after a few years. Me being in the financial sector, I didn’t want to be in the 70 per cent and also never have to work a real job again,” the husband explained in the post.</p> <p>In order to secure the couple's future together, they invested in a "combination" of mutual funds, real estate investment trusts and stocks to set up their future “for a very steady hands-off extremely low-risk solid return approach”.</p> <p>“With the $2 million, we ended up buying a $5 million dollar apartment complex that cashflows and will give a high return with low risk,” he explained.</p> <p>When the man told his family about the win, he expected them to be happy for him and his wife, but was met with a very different reception.</p> <p>“When I told my family, I thought the first reaction would be excitement for me and how we were financially responsible with the money,” he said.</p> <p>“But they started talking about a huge family trip, how I was paying for all their debts, and more. I explained $5 million is a lot but not enough where I will be giving it away to family and they got p****d."</p> <p>“They said I wasn’t welcome in this family and that I should never talk to them again. I think I’m in the right because I’m doing what’s best for me and my wife. So do you think I’m the a**hole?”</p> <p>The man's post was flooded with comments in support of his decision, with one person saying, “You’re no longer welcome in the family because you didn’t give them your money? The entitlement is nauseating.”</p> <p>One person commented, “My husband and I have talked, jokingly, about what we’d do if we won the lottery and we both agree that our number one rule would be not giving money to anyone who had the audacity to ask for it.”</p> <p>Another added, “Your family has shown you that blood is not thicker than money.”</p> <p><em>Image credits: Getty Images</em></p>

Money & Banking

Placeholder Content Image

Woman THROWS AWAY winning scratchie

<p><span style="font-weight: 400;">A Victorian woman almost lost $260,000 after throwing away a winning lottery scratchcard.</span></p> <p><span style="font-weight: 400;">The young St Helena woman told </span><em><a rel="noopener" href="https://www.thelott.com/real-winners/instant-scratch-its/young-woman-accidentally-throws-away-instant-scratch-its-ticket" target="_blank"><span style="font-weight: 400;">The Lott</span></a></em><span style="font-weight: 400;"> that her boyfriend had gifted her the Live the Life scratchie as a surprise.</span></p> <p><span style="font-weight: 400;">“When I first scratched it, I thought it didn’t win anything, so I just tossed it in the bin,” the woman said.</span></p> <p><span style="font-weight: 400;">But when her boyfriend went to fish the card out and check it, he said: “What the hell, you’ve won the top prize!”</span></p> <p><span style="font-weight: 400;">“I didn’t believe a word he said. I assumed he was just pranking me, or it was some kind of novelty ticket,” she </span><a rel="noopener" href="https://7news.com.au/lifestyle/melbourne-woman-throws-live-the-life-lottery-scratchcard-worth-fortune-in-the-bin-what-the-hell-c-4698835" target="_blank"><span style="font-weight: 400;">explained</span></a><span style="font-weight: 400;">.</span></p> <p><span style="font-weight: 400;">“It took quite a bit of convincing. We read the instructions on the back of the ticket a few times. He just kept saying to me, ‘You’ve won! You’ve won!’.”</span></p> <p><span style="font-weight: 400;">The $5 ticket was purchased from Aqueduct News and Lotto - and came with the prize of $1000 a week for the next five years.</span></p> <p><span style="font-weight: 400;">“It was a big shock. It was really hard to comprehend! I always dreamt of that moment, but it was very surreal when it happened,” the woman continued.</span></p> <p><span style="font-weight: 400;">“I’ve never won anything like this, so it’s amazing!”</span></p> <p><span style="font-weight: 400;">When asked about her plans for her winnings, she said there was only one thing on her mind.</span></p> <p><span style="font-weight: 400;">“I am not sure what I will do with it. I am still coming to terms with the news,” she laughed.</span></p> <p><span style="font-weight: 400;">“I think we will definitely buy a house though!”</span></p> <p><em><span style="font-weight: 400;">Image: The Lott</span></em></p>

Money & Banking

Placeholder Content Image

Unclaimed riches: FIVE lottery winners in the past five weeks yet to come forward

<p>Sydney residents are being urged to check any unclaimed lotto tickets as an $11million winning ticket remains at large. </p> <p>One lucky Aussie purchased the ticket for Tuesday's Oz Lotto draw at a a Newsagency in the south Sydney suburb of Rosebery, and have yet to claim their winnings.</p> <p>The ticket holder managed to nab the <span>only division one winning entry in draw 1435, securing themselves the entire jackpot prize of $11,002,697.57.</span></p> <p><span>However, the ticket purchase wasn't registered to a player card, so lottery officials have no way of contacting them. </span></p> <p class="css-1316j2p-StyledParagraph e4e0a020">Rosebery North Newsagency manager Min Chai said the win was “so exciting for us and our community”.</p> <p><span>“It’s incredible to see one of our customers walk away with such a massive prize,” he added.</span></p> <p><span>Lauren Cooney, a spokesperson for Lotto Australia, has urged all customers who bought a ticket from the store to check their tickets as soon as possible. </span></p> <p><span>She also </span>said, <span>“We’re certainly hoping to hear from Sydney’s latest multi-millionaire very soon.”</span></p> <p><span>The draw’s winning numbers were 35, 15, 44, 5, 18, 32 and 38, while the supplementary numbers were 42 and 16.</span></p> <p><span>This large unclaimed prize is the fifth winning ticket that remains at large this week. </span></p> <p><span>Other prizes still to be claimed range between $700,000 and $2million, as Sydney-siders are urged to check any tickets that are not registered to player cards. </span></p> <p><span>The suburbs the tickets were purchased in are West Ryde, Mount Hutton, Randwick, Werrington and the $11million ticket from Rosebery.</span></p> <p><em>Image credit: Shutterstock</em></p>

Money & Banking

Placeholder Content Image

“Miraculous” lotto win saves Sydney man’s livelihood

<p><span style="font-weight: 400;">A Sydney man will be able to stay in business after a “miracle” lotto win saw him receive more than $1 million.</span></p> <p><span style="font-weight: 400;">The 50-year-old said he was on the brink of losing his business and one of thousands struggling during Sydney’s extended COVID-19 lockdown.</span></p> <p><span style="font-weight: 400;">“I have been in business for almost 30 years but due to the devastating impact of COVID-19, I was about to go under,” he told lotto officials after his win.</span></p> <p><span style="font-weight: 400;">“I feel like this win is an absolute miracle that has saved my life, and I won’t let this opportunity go to waste.</span></p> <p><span style="font-weight: 400;">“I will put the money towards paying off debts and saving my business.”</span></p> <p><span style="font-weight: 400;">The winner took part in The Lottery Office’s USA Power Lotto via The Lottery Office app, taking home a division two prize.</span></p> <p><span style="font-weight: 400;">After accidentally selecting a multiplayer game for an extra $3.25, the man’s prize was doubled and came to a total of $1.6 million.</span></p> <p><span style="font-weight: 400;">Lottery Office chief executive Jacyln Wood said the man struggled to sleep after he received the news.</span></p> <p><span style="font-weight: 400;">“The player said the recent lockdowns had been a massive blow to his hospitality business and he had suffered numerous sleepless nights figuring out how he could continue to support his family and staff,” she said.</span></p> <p><span style="font-weight: 400;">“He emailed us straight after the app notified him of the win, he knew he had won a big prize, but he wasn’t ready to believe it.</span></p> <p><span style="font-weight: 400;">“When I called him this morning, he was in tears from the moment I confirmed how much he had won.”</span></p>

Retirement Income

Our Partners