23 Jan Is playing the lottery a waste or an opportunity?

Q. Settle an argument: I play the lottery not every week, but maybe once a month. I’ll spend maybe 10 bucks. My husband thinks it’s just a waste of money. Granted, I’ve never won more than $20, but you gotta be in it to win it, right? I figure it’s two day’s worth of Starbucks, which my husband gets every day. What do you think?
— Wife

A. Sure, they say you gotta be in it to win it.

But the odds aren’t great, of course.

From a financial perspective, the lottery is objectively a poor investment because the odds of winning anything meaningful are extremely low, so your husband is right on the math, said Bill Connington of Connington Wealth Management in Fairfield.

However, he said, that doesn’t automatically make it a bad choice.

“Spending about $10 once a month is a small, predictable expense, and if your finances are otherwise in good shape, it functions more like entertainment than gambling — similar to spending money on coffee, movies, or other small pleasures,” Connington said.

The key distinction is intent: if you expect the lottery to make you money, it’s a problem; if you accept that the money is likely gone and you’re paying for a bit of fun and the chance to dream, it’s reasonable, he said.

“In that sense, it’s no more wasteful than other discretionary habits, including daily Starbucks, which actually costs more over time,” Connington said.

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This story was originally published in January 2026. 

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