As rational creatures, people understand how slim their chances to win lottery. According to experts’ calculations, people have approximately 1 chance in 290 million to become a winner in some big numbers game. By comparison, their chances to die bitten by a venomous insect are higher – about 1 in 3.5 million, though everyone would agree that the risk of this happening is still incredibly small. Knowing that they will not fall prey to some deadly mosquito, people do not take precautions when walking on the street. And yet, the majority of them regularly buy lottery tickets, despite statistics warning them that their chances of winning are exceedingly remote.
There are various psychological reasons why people act in spite of common sense, but the fact is that the lottery industry remains one of the wealthiest and shows no signs of decline. The global lottery market was valued at 302300 million USD in 2018 and is expected to reach 393900 million USD by the end of 2024, growing at a CAGR of 4.5 percent between 2019 and 2024. These numbers mean that about 70 or even 80 percent of people in every country buy lottery tickets in the hope of becoming rich.
Indeed, in the United Kingdom, more than 70 percent of adults regularly play the national lottery, which is close to 45 million people. What is even more surprising is that the majority of them purchase a minimum of 3 tickets a week. Americans are equally hopeful to hit a jackpot: about 57 percent of the American population – 181 million people – buys at least one lottery ticket a year. In Finland, where people regard gambling in online casinos, or as they say it in Finnish, “nettikasinot,” their civic duty, more than 80 percent of the population play Veikkaus Lotto on a regular basis. The Finns even start playing lottery earlier in life than people in other countries: they may be just 15 years old to be sold a lottery ticket. Veikkaus lottery is so popular that the Finnish government has decided to exempt it from the restrictions it is introducing to other kinds of gambling. Whereas from 2023 on, gamblers will need to show their ID to play slots, they will not need to do so when buying a Veikkaus lottery ticket.
Veikkaus lottery is a traditional jackpot, 7/39 lotto game. This means that Finnish people select 7 numbers from 1 to 39. Three bonus numbers are also drawn and determine the second prize. Those who correctly choose 7 numbers hit the jackpot. The smallest prize is given to those people who guess 4 numbers right. Veikkaus Lotto is played weekly. Drawings are held on Saturdays and broadcast live at 20:45 on the Finnish first television channel. The record winning of all times in Finland happened in January 2010, when the jackpot of €7 million was won by one gambler from Kotka. This person statistically had 1 chance in 15,380, 937 to win the first prize but did it against all the odds.
In addition to Veikkaus lottery, the Finns also play various lotteries online. Convinced that playing online lotteries is preferable, many people in Finland switch to virtual gambling. There are two types of online gambling websites where people can play lotteries – local, which are licensed, and foreign ones, which are not. Licensed local gambling websites are recognized by the Finnish government and are run by the PAF and RAY. The former controls online gambling in the Aland Province; the latter supervises the Finnish mainland. The minimum age to play lotto online is 18. Gamblers also need to register with the provider to start gambling, have a Finnish security number, a Finnish bank account, and a physical address on the Finnish mainland.
One of the most popular online lotto is called the Viking Lotto. It is organized as a collaboration of several national lotteries and is enjoyed across the Scandinavian countries – Finland, Denmark, Iceland, Norway, Sweden, Latvia, Lithuania, and Estonia. The citizens of Finland spend more than €100 million per year playing The Viking Lotto. This lotto differs from Veikkaus lottery in that it uses a matrix of 6/48; that is, gamblers need to select 6 numbers out of the pool of 48. People can try their luck in the Viking Lotto online using debit or credit card, WebMoney, Skrill, PayPal, or other payment methods. There is also an option to purchase the Viking Lotto tickets online.
There is also a large number of foreign websites where Finnish people can play lotteries. None of these websites is licensed, but the Finns can easily access any of the foreign operators, transmitting money abroad. With foreign companies, Finnish gamblers can play any online lottery in the world, from Australia Lotto to Italian SuperStar to Turkish Super Lotto. A list of all lotteries is always available online. People can check where the largest jackpot is now being played among more than 45 lotteries and try their luck to win it.
However slim chances people have to win money by playing lottery, they will never stop wanting to strike it big. The Lottery Industry will always remain strong, generating more profits and inspiring more people to buy a lottery ticket which might turn the Fortune’s wheel in their favor.