Lottery addiction ‘increasing among some expats causing financial losses’

Published: 12 December 2024

Many pooling money regularly to buy lottery tickets, say community sources; UAE Big Ticket lottery most popular

Godwin Isaac K | NT
Doha

Lottery addiction is increasing among several Indian expats in Qatar which is taking a toll on their personal finances and mental health, community sources have told News Trail.

The reason for the addiction is the popularity of some UAE-based lotteries which are offering fabulous prizes and a few expats in Qatar, too, have won the prizes.

The UAE Big Ticket lottery, based in Abu Dhabi, is one of the most popular draws in the region, offering life-changing cash prizes and luxurious rewards. Known for its grand jackpots, the lottery attracts participants from around the globe, drawn by the allure of multi-million-dirham payouts. Tickets can be purchased individually or shared among groups, making them accessible to a wide audience.

Many are losing substantial sums of money over a period of time as they are regularly buying tickets with the hope of hitting the jackpot one day and neglecting personal responsibilities. community sources added.

There are also people who regularly buy tickets by pooling money from different people, especially friends, which only helps to perpetuate this harmful habit.

“What I have observed is that it’s often people with low-income salaries who fall into this trap,” Abdul Raoof Kondotty, a social worker and tax expert, told News Trail.

“There are several attractive social security schemes available in India which are suitable for expats, which they can subscribe to spending small amounts for which returns are good and long-term. Unfortunately, I have seen some people spend their hard-earned money on lotteries instead of going for these social security schemes,” Rauf added.

The winning probability in a lottery is extremely low, often ranging from one in tens of thousands to one in millions, depending on the specific lottery.

Speaking to News Trail, a Chartered Account said: “As a finance professional, I strongly advise against lotteries, where the chances of losing are over 99.9%. Instead, consider investing that amount of 200-500 riyals monthly in a Systematic Investment Plan (SIP) or fixed deposits. These options guarantee returns and grow your wealth over time. Unlike lottery spending, where money is irrecoverably lost, investments allow you to withdraw and use funds for real estate or other assets whenever needed. Gambling often traps individuals in a cycle of losses, waiting for a win which may not come in a lifetime, leaving them financially drained as they have lost the money.”

The media and lottery agencies often highlight the stories of winners, celebrating their life-changing jackpots. However, they rarely acknowledge the countless individuals who lose month after month. The focus on the few who win creates an illusion of hope, but it neglects the stark and sad reality faced by all others which is losing money consistently with no guarantee of ever winning.

“Many expat youths spend QR100 each, every month, sharing the money with their friends to buy Big Ticket lottery together. If this amount (2,300 rupees) is invested in a mutual fund for 15 years, they will have a good investment,” commented Nassar P V Thali, on Facebook, during a discussion on the subject.
Many spoke about the need for awareness programmes and preventive measures to tackle the issue.