Welcome back to episode 6. Thank you as always for being here.

One of the craziest experiences I've ever had with money.

And it wasn't even necessarily an experience.

It was just a realization that I had,

after reading an article and speaking with a friend several years ago came after I read this article about lottery

tickets in America. This was maybe 2018 or 2019 something like that and this article made two astounding points about lottery

tickets. The first is how much American spend on lottery tickets and here's

the stat that blew my mind and will probably blow yours as well.

Americans spend more on lottery tickets than they do on movies, video games, music, sporting events, and books combined.

It is an astounding figure, an astounding statistic,

made all the more astounding by the second point, which I think is even more incredible.

And that is the majority of lottery tickets in the United States are purchased by some of the poorest Americans.

The lowest decile of households in the United States based off of income

spend on average $412 a year on lottery tickets. That is four times the amount that is spent by the highest

decile of income earners. By large the majority of lottery tickets in America are

bought by the poorest people and they're not

spending a little bit of money on it they're spending tons of money on it.

So many people in this group in the lowest decile of earners are people who could not come up with

four hundred dollars in an emergency to fix their car or whatever it might be and

those are the people who are spending more money than that on Scratcher tickets. Now here's the

realization that really took me aback. It was when I read this article my first

response and maybe your response too was, those people are crazy.

...