Wednesday, 12 November 2025

Fifty-five Million Reasons to Change the Lottery System

 Mike Bodnar wants more people to win lotteries...



As I write this, the New Zealand lottery has 'jackpotted' to NZ$55 million. Even if I don't buy a
ticket for the next draw, there's one thing I will bet on: many, many more people will do just that. Because greed. Or desperation. Or because they've just been pulled back off the road by a stranger who saved them from stepping in front of a bus, and the hero says, 'Think you'd better buy a lottery ticket, mate.'

Whatever, everyone, it seems, wants to be super wealthy. For this we can perhaps blame Bezos, Musk, Thiel and all the other multi-billionaires around the world - along with the wealthy celebs (I'm lookin' at you, Taylor Swift) - who are able to indulge in their every whim regardless of cost. Musk et al don't even have to book first class, because, of course, they have their own jets. They certainly wouldn't ever wonder how they were going to pay the next winter energy bill. Why would you when you could just buy the energy company?

I mean, imagine having an income of US$1 trillion annually (which Musk is in line for after 75% of his shareholders voted in favour of the obscene 'salary.' Seriously.); that's over $83 billion a month, or $19 billion per week, or - imagine it - $2.7 billion per day. Nobody, I repeat, nobody can spend that kind of money on a daily basis. They could give it away of course, but do they? By and large, no.

To scale that down a bit, someone in Aotearoa/New Zealand could, this week, win NZ$55 million, which, even without investing it, would mean a daily income of over $150,000 dollars. Even this relatively miniscule amount (compared to the billionaires and trillionaires) would be almost impossible to spend. It would, however, be easier to give away, but there's no guarantee that a winner will automatically be a philanthropist. Probably just the -pist bit.

However, if the winner took it all (there's a song in that...) and did spend at that rate, they
would have a zero bank balance in about 12 months. So, some investment would be prudent, along with judicious spending and ongoing fund management. I could help with that.

I would, though, argue that nobody in Aotearoa/New Zealand needs $55 million. Nobody. Unless - and it's a big unless - they really are of a philanthropic nature and wish to set up educational trusts for example, say in multi-disciplinary areas for the less advantaged. There's no shortage of need. But - to use an appropriate analogy - what are the odds?

Speaking of need however, there are almost certainly 55 people in the country who could absolutely do with 'just' a million dollars, and many, many more who would be very happy with, say, a quarter of that - to pay off the mortgage maybe, help the kids get on the property ladder, or pay off student loans. Or yes, go on a cruise or buy a new car. I know this because I'm one of them. And because, well, wealth.

You can see where I'm going with this; $55 million is an obscene amount of money for one person to win. Nobody needs that amount, so I propose that the Lotteries Commission caps each jackpot at - ooh, let's think for a moment - $10 million, and, when it reaches that, they guarantee ten winners of $1 million each. The jackpot never gets to be more than $10 million, and each time it does reach that, well, there are ten massive parties in different parts of the country to gate-crash. Just listen for the pop of champagne corks. And form an orderly queue, behind me.

I mean, if this week's draw were to guarantee 55 winners of $1 million each, that would create  55 new millionaires in New Zealand. Look what that might do for local economies. Plus - while there's still the potential for family squabbling over the spoils - $1 million is a far more manageable amount than $55 million. Life-enhancing perhaps, rather than totally life-changing.

I'd also wager that knowing there are going to be 55 guaranteed millionaires after

This time next week...

Saturday's draw (the biggest to date btw), more people would be inclined to buy tickets for it. Which means the odds of you winning decrease. At least, that's how it seems to me, but I'm no statistician.

And yes, I know, creating more millionaire potential opens up a whole new debate about the dangers of encouraging more gambling - the increased mental salivation that goes with a greater chance of winning, but I'm sticking with the proposal of a more equitable distribution of the lottery winnings here. There are already mechanisms in place to monitor and restrict gambling amounts, though the efficacy of them is a debate for different forum.

Anyway, rant over. You know what I'm going to do now, don't you? Of course you do. And of course I am. But if I win the full amount you can look forward to the establishment of the Mike Bodnar Foundation for Students of All Ages Who Want a Degree in Anything They Can't Currently Afford. Or something like that. Sure, I'll certainly be -pist, but I will also be a philanthropist.

Wish me luck.