Spending $80 Billion! Last Madness of China’s Young: Placing Final Hopes in Buying This Item
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- čas přidán 30. 03. 2024
- At a time when nearly every industry in China is experiencing negative growth, with many malls and eateries closing down, there is one sector that is bucking the trend. Amid the economic downturn, this industry in China is unexpectedly thriving.
It's probably not hard to guess which industry this is-yes, it’s the lottery business.
#chinaobserver
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Please tell these foolish young people that a state-run Lottery is just another kind of tax. Players don't win. Only the State wins.
What infuriates me is how MSM covers it as straight news, while pimping it constantly
I think they know, they just don't care.
Well if someone actually does you know they are going to say to the other suckers. Thanks for donating to the pot.
Of course when it comes to gambling the house always win.
It's literally legalize scamming.
And that's when the government, et. al. is TRYING to treat you fairly.
Lotteries and places like Vegas don't exist because of winners...
@@RockBrentwood Actually, most visitors to Vegas end up losing, by number, about 87% lose money, only 13% come out ahead. And the only reason as many as 13% come out ahead is that they only stay in Vegas for a few nights. The longer somebody gambles in Vegas, the more likely they are to end up losing.
Think about it. Every single game is set up so that the house has an advantage. How is it possible for more than half the people to win???
@@twostate7822 Agree. The house always has the edge. There's no way 2/3 of people who leave Vegas ends up winning. I won't even believe in 1/3 come out winning. I was thinking more like around 90% who leaves Vegas ends up losing so your numbers make more sense.
"The Lottery" by Shirley Jackson short story written in 1948. We studied this in middle school literature class. The winner was stoned in the public square.
Sure helped me understand the irony in a lottery. The winner being the loser versus the losers ending up homeless trying to be the winner
Ofcourse they exist because of winners, idiot if everyone just lost then they wouldn't exist.
Ssshhhh don’t say nothing.🤫😊😂
Lotteries -- taxes on people who are bad at math.
Probably, but we here buy one ticket every year for the new years lottery.
I know we lose, but we just do.
More like people desperate enough to overlook at odds. If I’m f’ed anyways why not go out with a bang?
That's a different thing
Not really. It's a behavioral problem, not a math problem. Everyone knows the odds are way way against them, but everyone still plays it. The people who play it the most are the poor. It's just a desperate way to try to get out of their current situations.
Right - and I thought Chinese were good at math.
If you buy a lottery ticket, you lose; if you sell it, you make money.
Too much risks in trying to sell. Greed turns people into monsters.
Shovels and picks for gold..
Not necessarily.... They do this, cos I bet these info is actually going to be used as well.. to see who did or did not go to the offices etc. So... since analytics is here....
@@MeiinUK what are you even talking about? Are you typing while drunk?
Hahaha you earn money by selling the game instead of playing. How ironic.
When you're both dumb and think you have nothing to lose, but you're currently losing what you have left. So dumb.
It's probably dangerous to lord over a people with nothing left to lose.
Lotteries boom in desperate times...
Spend money on rice farming machinery your going to need it when the country goes into a Great Depression 🇨🇳
They'll block you from using your own machinery.
How can you farm the land is polluted.
And now all the land is covered in empty condos, still awaiting fix-out !
LMAO SO true and sad
I'd be will to bet that at least 90% of the scratchers they buy are counterfeit.
And the 10% real will never have printed a winner. Why would they?
Definition of pipe dream. Before it blows up into nothing.
Buying a lottery ticket every now and then is no big deal, it's like buying a pack of gum or something at the register in a store. It's when you get addicted to it where it becomes a problem.
Despite all the time they spend memorizing math formulas, they still don't understand probability.
Yet how many people believe the “probability” of random chemicals coming together and forming the correct amino acids in the correct order at the correct time in the correct puddle that life spontaneously generated. So putting $2 on the mega millions doesn’t seem so far fetched
@@sawboneiomc8809 Oh, so god created it, life on earth? You did not say that, was it your inference?
Try reading 'The God Delusian' by Richrd Dawkins for the real story !
@@sawboneiomc8809Most people do not understand time, what something like 500 million years actually means. Life didn't appear spontaneously, the same way a human does not suddenly age, but realizes one day that 20 years have passed
😂
Billions of years, billions of chemical interactions per second... money is on life occuring eventually... winning lottery is where the chances dont stack...@@sawboneiomc8809
Ah yes lottery, the poor man's tax
The lottery ticket lasts longer than anything else manufactured in china
The Stupid Tax
@@MK_ULTRA420. My cousin in law won 1 million last October in the Canadian lottery. Not even a year and he already has less than half that
Tax for people that don't understand math
My uncle won Canadian lottery,didn't even play it. Turned out to be a scam from India
I remember Adam Smith's explanation of lotteries in this book "Wealth of Nations." He explained how pointless they were, and that the more tickets you buy, the worse your chance of winning. If you bought all of the tickets, your chances of losing are more than 100% because the combined cost of tickets wold be far more than the actual prize. But a fool and his money are soon parted. I remember when the state of California started its lottery, claiming that the lottery would "help California's schools." Before the lottery, California's public schools were already #1 out of the 5 states. But after 40 years of the lottery, they are now #40 out of the 50 states.
The chance of something happening can never be greater than 100%.
LOL Nice causation equals correlation there. I can do that, too. Before your birth, California's schools were the top. After you were born, they're 7th from the bottom. Clearly your fault.
(Proposition 13 [1978] reduced property taxes and thus school funding as a reaction to the state's supreme court ruling school funding differences unconstitutional. This led to many wealthier cities funding schools in other, private ways and ended up further widening school inequality.)
@@fsaldan1 I went to a California public school, where kids are taught that men can have babies, and a state where in some districts more than 100% of registered voters can vote in an election.
@@jpguthrie6669 If you ever get tired of hearing about gay stuff, become a progressive. The right is absurdly obsessed with it. Every other word out of their mouth is about something gay.
The problem with lotteries to fund schools is that the politicians then reduce funding not coming from lotteries. End result, school funding overall stays the same, but now poor people have less money.
Here in Arizona we call the lottery “Stupid Tax”, only the stupid play and it transfers their resources to the state
I wouldn’t trust a lottery in chyna, at least in America & Canada random people actually become rich from playing.
there was a news story not too long ago about a local lottery in China being rigged
They have nothing to lose - they know their income cannot buy a home in the lifetime. So they take a stab in the dark.
Sad.
My stats professor that helps design the lotteries says he never buys lotteries. "Its a tax on stupidity"
this is a problem everywhere, not just china.
Not quite, in other places you at least have a chance. A small one, but one nonetheless
Would you trust scratch tickets in a place where everything is a scam?
Right ▶️
There is a reason why in the U.S. (and probably every country) you can only buy lottery tickets in poorer areas
They are harder to find in richer areas as the prosperous do not need them
Young people also already got addicted with the taste of gaming lootboxes...
True lol 😂
Do you know how to tell if the economy is bad?? Everybody buys lottery tickets and booze....😮
生意淡薄， 不如賭博。
@@DriQ-qo7tp rice farming is the answer 🇨🇳
@@DriQ-qo7tp I don't understand what you are saying...sorry
True
@@lance8080 LOL..... "Sake!!"
The bots are everywhere
you have to remember.if it wasnt highly slanted toward the favor of the house, there would be no gambling.due to no profits from it.
In La Vegas people spend their last few dollars on blackjack or slots. No difference. 😮
This maybe more of an inside joke for gas station Workers, but we joke around saying Lottery tickets are just poor people tax, literally only people who wanna stay poor come and buy 30 lottery tickets at once
The only way to win is not to play.
I hate the justifications people use when playing lotteries: "Someone always wins, so that could be me!" No, I am 99.99999% sure you won't.
"You have to be in it to win it!" Over the long term the vast majority of players are better off not buying tickets.
"I know someone who won $10,000!" Yes, and how much did they spend buying tickets? Did they boast to you when they spent $200 on lotteries and won nothing?
Hold up. Didn't a lottery building get closed down because they were cheating?
Shh, it's a normal country here you see, ah?
@@BillionairesArentYourFriends10:29. Bot 👆🏼👆🏼👆🏼
A fool and their money ...
Disease, famine, war, and death are the classic horsemen of the apocalypse
Drugs, gambling, p0rn, and apathy are modern horsemen of the apocalypse
id replace porn with tiktok lol
138usd on rigged scratch tickets. This is how you stay poor
You know someone is a compulsive gambler when they bring their own tools for lottery scratchers.
Wow, those people are beyond salvation and restitution. They’re so stupid.
Americans do this too
That's what happens in a stupid country with a stupid economy run by a stupid government.
@@vooteimer1234 it fits the US and China equally ... stupid people win stupid prizes.
Desperation
when you can win big win only spend less , everyone want to take a chance
even more so when younger gen right now didn't really want to work too hard
I believe when the person says "You have a bigger chance of getting rich from lottery than working in China" but at the same time I wouldn't trust the Chinese lottery system in any kind of capacity.
Western Lottery at least has some regulations but the house still wins in 99.9% of cases.
Many lose; few win. It's how the system works. How much has a person won from these tickets? What is the supposed BIG win valued at? Pipe dream
they are not stupid ,despair can cause even the brightest minds to follow a self destrictive path,and its not only in china its in the whole west world also,its hard when you loose hope ,or have noone to help you
I wonder how many of those lottery tickets are fakes
About 98 % of them in China...
All the winning tickets go to the ccp members ....
Can't have the normal Chinese citizen winning enough money so their family doesnt starve this week ...
Can they ...?
About 50%, .... or more.
it's actually crazy how much these lottery shops have spread, I swear the past year they've at least tripled
No surprise, lottery tickets, liquor and cigarettes the hallmark of desperation and hope.
Cigarettes? Not in the same category. And no. I’m not a smoker either.
@@kciwner I am no smoker and I am against smoking, but I concur...
ah yes the gas station staple trinity.
Lol as if the CCP is going to run a "fair" lottery. Even in America, the lottery is jokingly referred to as a tax on the poor.
Its a business based on false hope. People always think that they are luckier than others when the truth is they are not.
There are provably stores out there selling counterfeit lottery tickets. Why not?
6:40 "It's so difficult to make money now, no matter what you do. So I figured I gamble away what little money I worked so hard for!!!!!"
the problem with this generation is that they want to get everything instantaneously.... and becoming rich is a hard, tedious process in most cases
banksters make the money quite fast
defrauding people of their earnings and savings.
also getting bailouts & bonuses when they f up.
so no, what you said is not true.
How about that Aussie guy who won $50,000 on a scratch ticket and for the news cameras he re enacted the situation. Only the ticket he bought to reenact the scene won $200,000! Amazing!
Flukey ! Has he spent it all now, and living in a mob home?
Yep - it's almost as if that second ticket had no knowledge of what that first ticket had done.
I need that scratcher lol
Lol
It's a putty knife lol
No, lotteries are for losers honey. Much better odds of winning on horses.
Yes
@ArmySigs horse racing is rigged what are you talking about..
Isn't the Chinese lottery a scam?
Rule number 1 is that the internet will lie to you never take it at face value.
The tattoo on the finger says it all... person who make very bad life decisions.
incel
And you think they can’t make a counterfeit Lottery Ticket in China.
ngl watching people scratch those cards is kind of satisfying
Yes! I was thinking the same thing! Especially those with a decent knife and the scratch is a seamless 😩
Lotteries are a tax on the poor. Period.
And gatchas, and microtransactions
Let them protest all they want so long as they pay their taxes
"tax on the stupid"
That is what Willard Quine, the great American logician said. He liked lotteries as they allowed intelligent people to pay less taxes.
A bit more than that for some. It is a drug if you got the gambling addiction. Plus, Asians, duh.
Let them protest all they want so long as they pay their taxes
At a particularly low time in my life, when my business failed and I almost went bankrupt, I started buying lottery tickets. I spent upward $100 a week for a year in hopes it could somehow lift me out of my situation. It didn't, but when my situation improved I could see the madness of desperation and I stopped. I haven't bought another ticket since.
Even the most rational minds can be blinded by desperation.
The problem with gambling is that people don't remember the times that they lost, and only remember that time they won. This creates an emotional feedback loop in which they associate being a winner with gambling, despite having lost more than they have won. People gamble because they want to feel like winners..... it's even in the rhyme: Winner winner chicken dinner.
When I used to gamble I got little pleasure from winning but big pain from losing. The wins were never enough.
@@BR-hi6ytMaybe that is why you quit?
This not only taxes young people, but also numbs them of economic pains by psychologically give them false hopes.
What's up with the bots on the comment section
Lottery should be a one in a month/quarter just for fun of the thrill thing
yeah but it should straight up be illegal. All gambling should
I understand why they want to make it rich quick... But I wonder, do they know that China is having a hard time having the money to pay them if they were to win big.
"When you find yourself in a hole,
stop digging.". ~Will Rogers
I wonder what's the payout on that 80billion . Even if the payout was 0 nobody would know
Thank you for covering this.
It's always the bank is winning. The owner of the bank profits.
The more desperate the people are, the more they hope.
Same everywhere
I was given free tickets to the horse races. They were having a free raffle. They would draw 8 people for the last race. It was a two story race track. I happen to be in the elevator when they were taking that box of tickets to the place where they were going to announce the winners. I told them to make sure they picked my name. They did. They couldn’t believe it. Now us eight people had to pull out tickets once again out of a hat. It was the number of the horse in that last race. I got the second best horse. Someone else got the number one horse. But during the race, the number one horse got scratched. My horse won! I won a beautiful diamond ring. That was on Mother’s Day. That was a day “Lady Luck” was on my side! Don’t think the Chinese will be so lucky.
Somebody has to win, right? It’s just not going to be you or me :(
If you buy a lottery ticket, you lose; if you sell it, you make money.
I thought the Chinese were good at math?
😂😂😂😂😂 another stereotype
The Chinese are good at gambling even the stupid Arabs are no match for them
No, it's just that the intelligent ones are the ones who can make it to the west.
@@meangreen6044 within the limitations of what they are, most are true.
Lotteries won't be in business if they payout more than they take in. Odds of getting ahead are against you. I spend on a lottery ticket now and only when the jackpot is huge. Infinitesimal chance at winning is infinitely higher than 0 when no ticket is purchased.
It's a destructive form of giving up on even hope. It's admitting there's no hope but holding on to the wish
If you're going to gamble play roulette and pick a color . If not learn to trade and hedge
Rice farming 🇨🇳
So ma y people desperate to live a life full of clothes with a different logo, phones you get to replace every year instead of having to wait two, cars that come with trinkets and numbers that means nothing to the overwhelming majority of people and trips to another country only to have an extremely similar cup of coffee to the one you can get near home, I don't get it. I don't need to be old to understand none of those things mean anything
The system thrives on sheep mentality
Oh this is going to destroy themselves with a good amount of rich bet related companies. Having illegal betting houses in China is practically a national pastime.. now it’s legal there? It’s be nuts!
These people are paying for a few minutes of hope in otherwise difficult times.
All that education, and yet still so stupid.
When the economy is crap, build a casino and stadium. It can provide jobs when the casinos earn the money and build their infrastructure. The people have to get their dopamine hit.
Absolutely ridiculous!!
Addicted to gambling go figure.
The economy is tanking, and people are wasting their little savings on lottery rip offs.
I knew a lottery winner here in Houston. It didn't make him happy. His life became unmanageable. I met him working at a hotel, he was a manager. He needed to stay busy to stay away from drugs 😢
It should be a major red flag if one of your better industries is "lottery"
Really great video. The voiceover is so much better than an AI voice. The best channel for me. A return of 60% is pretty fair. When you gamble you have to accept your money is gone. I can't do that but I have friends who can. It is nice to win, the addiction side is more destructive than drugs. It ruins EVERYTHING. It's run by the Gov so you are not going to best the house. Have fun, and set a firm limit. Don't chase losses. Personally don't bother but you do you. I do think it's a better return than the current stock market in china 🇬🇧❤️
I enjoy these vids too but I feel like some of the narrators need alot of practice! There is this young female British narrator who I can't stand bc when she talks she is stuttering over every word. This 1 was decent!
We call em Scratchies where i'm from.
To those shaking their heads at this behavior, remember that China's restaurants are so competitive that they are serving customers at a loss. It's painful to realize that the scratch cards are a scam, but it's far more painful to find that it's a scam to build an honest business and spend 60 hours or more in a kitchen only to have less money than when you started.
I mean, you can think logically. If the lotteries were truly an easy way to earn income, then it would be a losing strategy for the lottery to giveaway money so easily, so they need to come up with a strategy to capitalize on you. It's not that hard, people
When jobs are disappearing, the stock market is decimated by government manipulation, clean food is a luxury, real estate is falling apart, opportunities abroad are being curtailed, collectors items like watches have lost half their value, and commodities like gold are straight-up being stolen ... I'd be tempted to try a scam, too.
I hope at least some of the money went to their Department of Education☹️
I wonder if they'll get something like that power ball thing we've got in Arizona. Not a scratch, but I remember it building up a winning of over one billion dollars for the person that guessed right.
I think I understand why this business is booming. When all investments like real estate, precious metal, and banking become untenable or unavailable, the lottery is, sadly, as good as it gets.
In the US, lottery books come with the expected return (e.g This book pays out $600 for $1000 of tickets). Big winners, ones payed by the state aren't counted in that. Don't buy books, and know the odds are against you.
I know I’m not the only one thinking ….💭 “ horizontal fortune “ 🥠 - come on nowwww people ! 😭
I feel bad how desperate people get. Minimize things don’t be excessive, save literally every penny. Gambling is a horrible solution for 99% of those that gamble
When a game producer realizes they can channel that escapism, gambling addiction, fantasy and unique interaction with digital currency into a video game.
Ah the stupid tax
I love ur videos and updating us of life in the sleeping giant
Can you actually get the money after you win the big one? If you can't get your own money from the bank, what makes you think you can get millions?😂
Didnt japan got hooked on lottery after ww2? I remember it got really bad before people realized time to go to work
It’s so sad to see people are so desperate for change this is what they turn to knowing it’s a scam but still proceeding with hopes and desires.
It is reason why lotteries are called the Idiot Tax.
They seem to think the lottery company will actually pay out if someone wins big 😂😂😅.
my dad has gambling problem, he will lose 500 a week to scratch off but get happy over winning 100. Its stupid and mind boggling
How foolish is this I thought they wear Ivy League graduates. Goes to show education doesn’t mean intelligence.