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Happiness of Losing a Lottery
Kim Ji-young  |  zzero9999@uos.ac.kr
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[152호] 승인 2019.09.18  
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Lottery is definitely a continuous issue. Every week, hot on the internet are winning numbers of lottery, ranking on the top in the real-time search words, and various articles updated about lottery winners. The responses of those who read about a fortunate few and their payout are generally “Envy them” and “I’ll be the winner next time.” While there are considerable interests and issues about lottery, tragic news of winners is also heard quite often. The UOS Times explains why lottery winners couldn’t be happy against a public expectation by reading their stories and suggests three ways to be happy through lottery by knowing how the lottery works.

The striking aspect of lottery is that even though there is a low probability of winning, many people indulge in it. In fact, the total amount of money collected for “DH lottery” (the national lottery fund of Korea) is very large, approximately 80 billion won per week. The fact that a lot of money is collected for the DH Lottery means a big number of people are involved and only a couple of winners takes it all. In general, purchasing a particular product is closely related to positive or negative feelings that consumers experience from the consumption. If a specific purchase experience meets a consumer’s expectations, in other words, when the purchase has a positive effect on the consumer, even if they are not fully met, the consumer will continue to buy the product. This may be the reason why lotteries are sold steadily.

However, looking at the unfortunate stories after winning, lottery is thought to be giving negative effects on the winners. For instance, in May 2003, Winner A who won the second-highest ranking lottery payout had disastrous experience after he got the prize. This man who was in and out of prison without a decent job at the time won the first place from DH lottery and received 24.2 billion won (18.9 billion won if tax is excluded). However, it took him less than five years to spend all his wealth. He lost a lot of money buying stocks without expertise, and his business failed repeatedly. To take a look at another case, Winner B got involved in the lawsuit with his family because sharing his winning prize of the lottery became a problem. These undesirable stories of the winners are coming up as a result of an absence of mind and their greed. To be sure, it should not be suggested that lottery only brings about negative effects on its buyers. Except for these specific cases, there are many winners and consumers who live happily with the lottery, who overcome those negative feelings and get positive benefits of the lottery.

The positive benefits of the lottery may differ from person to person, but The UOS Times found a point of commonality, and arranged three types that can make lottery buyers happy. First of all, most people who didn’t win this game of luck can enjoy the thrill of anticipation between the time of direct purchase and the realization of loss. A small chance at fun, small talks among people, or hope that lotteries grant in everyday life may satisfy one’s need for happiness.

Second, a fund project from the lottery sale serves as a means of social welfare that can make both the person who buys the lottery and the person who gets help happy. “Lotto” released in 2002 was recognized as a “big win.” But in 2007, it changed its brand name to “Sharing Lotto” and again in 2018 to “DH Lottery.” “DH” is an initial of a Korean word for “accompany” which symbolizes public interest of lottery. DH Lottery contributes 42% of their sales to those in need of social assistance for participating in the project such as supporting the disabled and financing and subsidizing the welfare sports. This money is distributed by considering the actual conditions of the area, equity, and fund characteristics. The rest of the profit of 58% is used for the winning prize.

Lastly, the third way to be happy comes, of course, when winning a prize money. The moment when an expectation becomes a reality will be truly amazing, and the process of receiving the cash prize and spending it for your loved ones and yourself will also bring happiness. However, as in the aforementioned case, if you mistake the lottery payout for an infinite amount of money and waste it, you will find yourself in vanity and despondency. The UOS Times expects that the winner would be happy if the money is spent in any meaningful way.

* Social Functions of Lottery *
Contributes to social development by raising public service funds. Proceeds from lottery issuance provide for medical, welfare, education, and financial support for local governments. Projects to improve people’s lives are successfully carried out.
Enjoy as a healthy entertainment in your life. Lotteries are a healthy pastime in life, providing you the joy of winning.


Kim Ji-young
zzero9999@uos.ac.kr

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