When someone asks me for lottery advice, I tell them to play the lottery for fun and entertainment. It's inexpensive, exciting and easy to play. If played responsibly, it is so inexpensive that it is not going to harm anyone playing. That is why the lottery is such a popular game all over the world.

I have no objection with people who chooses not to play the lottery. After all, playing the lottery is a personal choice. But, I've included this article in the series because I am fascinated by the reasons that some people give for not playing. Lotto Myth Six is a lie people give themselves.

Lotto Myth Six - The lottery is gambling and I don't gamble.

Ooooh PLeeeease!

Now, if someone doesn't gamble because of some deep, heartfelt religious belief, I'm fine with that and even respect their position. But, many times I sense that such statements are made by people who believe that they are somehow superior and are staking out a claim to some moral high ground. The fact is they are so disconnected from reality, they don't even understand they are lying to themselves.

Where Do You Stand?

Here's a partial checklist to help distinguish the self proclaimed moralist from a true believer.

#1: Do they have an IRA or participate in a retirement investment plan through their employer? Here they are taking a large portion of their income and choosing which Mutual Fund to place it in. Many people can't even tell you what Mutual Fund their money is in. Even if they can, they have probably never seen the prospectus. Their hope is, as it is with most of us, that the Mutual Fund will do well, but there is no guarantee.

#2: Do they invest in any stocks or bonds? Many people take their discretionary income and buy stocks and bonds as a hedge against inflation. Some do it because they fancy themselves as the next Warren Buffet and are going to make a killing on Wall Street. Regardless of their motivation or delusions, there is no guarantee.

#3: Do they buy Gold or other precious metals as a hedge against inflation? Doing so is a highly recommended strategy and, if they have the resources, they should do so. But, as is the case with all things, prices go up and the prices come down. There is no guarantee.

#4: Do they have Insurance? Now, let's see. There is Life Insurance, Health Insurance, Disability Insurance, Home Owner's Insurance, Fire Insurance, Flood Insurance, Earthquake Insurance, Subsidence Insurance, Car Insurance, Renter's Insurance, Boat Owner's Insurance, Business Insurance, etc. In fact, you can find a short list on Wikipedia of 76 different kinds of Insurance. Insurance is a bit different, though. With Insurance you're spending money for something you hope will not happen. But, there is no guarantee it won't.

#5: Are they buying a home or investment property? Anyone who has ever done this was hoping that the property value would go up; not down. Given the resent housing crisis, how many people's gamble paid off? Prices go up and prices come down. There is no guarantee.

Gambling Means No Guarantee

Insurance actuaries can tell you what the odds are that you will have an accident on your way to work if you live in Slippery Rock, Arkansas. Therefore, you must be gambling every time you go to work. You are gambling when you go to the super market. Is the meat tainted? We live in a world that is filled with risk and, whenever you take a risk you are gambling. Whenever you spend money without a guarantee, you are gambling.

So, to those who believe you have staked out the moral high ground because you don't gamble, please, do the rest of us a favor. Get in your insured car, drive back to your insured home, see how your IRA is doing, check out the status of your stock portfolio and pat yourself on the back for having the moral strength not to play the lottery. But, spare us the lecture. Spare us the moral platitudes.

So, if you are a lottery player with your feet planted firmly on the ground, the best lottery advice I can give you is to have fun, enjoy the game and use the best lottery software you can find.