National Lottery calls for ban on betting on its games
6d 20h ago by thebrainbin.org/u/Infrapink in nottheonion from www.rte.ie
The National Lottery wants the Government to ban the practice of betting on National Lottery games in bookmakers and on betting apps.
It points to a new report carried out by consultants Indicon, which states that around €289 million euro in potential lottery sales has been diverted to bookmakers because of lottery betting, resulting in losses for smaller retailers and less money for Good Causes.
I had never thought about people using third party bookies for an entirely separate pool on a national lottery draw, but honestly, given the polymarket stuff, I'm not that surprised.
The bookies offer better odds unsurprisingly. Not a fan of the national lottery myself. It's a tax on the poor.
How so
Well rich people don't need to do the lottery and on average people who aren't rich are the ones losing money for the desperate hope of some way to claw themselves out of the poverty trap.
No how are the odds better?
Oh! Well let's say the payout for matching 4 numbers on the lotto is 20 euro, well the bookies will pay out like 23. They have tighter margins but they're happy with it. They do run off the national lottery draw numbers too.