Are you the world’s worst gift-giver? A Last-Minute Larry, perhaps? Or a Couldn’t-Be-Bothered Bertha?
Popping a lottery ticket into an envelope may seem like the ultimate no-effort gift. At a push, you might add a greeting card. Job done!
After all, you’re giving someone the gift of dreams, aren’t you? You’re pretty chuffed at the thought of your lucky recipient opening up the envelope to discover the lottery ticket and promptly dreaming about paying off their college debt or retiring in the Caribbean. It really doesn’t matter that the odds of hitting a jackpot are something like one in a couple hundred million.
At the very worst, your recipient may win enough to treat you to your favourite latte with all the trimmings in sheer gratitude for the ticket.
Hang on there, Bertha or Larry. There are a few things you really need to consider about before getting lottery tickets as gifts.
Firstly, Don’t Give Kids Lottery Tickets as Gifts
Sure, your niece is turning sweet 16 or your adorable nephew has his Bar Mitzvah this weekend, and a lottery ticket seems like a nice little start in life, doesn’t it? Think again.
While it may seem harmless enough to give a teenager – or tween – a lottery ticket, studies show that those who receive tickets are more likely to begin gambling at an early age. Also, just as it’s illegal for underage kids to buy lottery tickets, it’s also illegal for them to cash in any winnings in many states.
Over in Alberta, almost one-fifth of parents have gifted their child a lottery ticket as a birthday or holiday gift, reports the Alberta Gaming and Liquor Commission.
If lottery tickets do make it into the hands of teens as gifts, it’s best to consider it a teachable moment. Take an instant scratch card as an example. Winning $10 means something rather different to a 40-year-old than it does to a 16-year-old, and not just because of the amount. The adult may think they’ve won this time and it’s a one-off. Winning that $10 to the teenager may mean he or she might be tempted to keep playing in the hopes of winning again.
See where that could lead?
But What if It’s A Gift That Keeps on Giving?
On the other hand, what if you do pop a Powerball ticket in your colleague/sister/neighbour/postman’s Christmas card and it wins big?
Legally speaking, a gift is indeed a gift, so you shouldn’t have any expectations in terms of getting a cut of the loot just because you bought the ticket. The winner is under no legal obligation to share his or her winnings with you.
If you’re the type of person who holds a grudge, just imagine how resentful you’ll feel if you give someone a winning ticket. Just don’t do it.
Gifts ought to be given without the expectation of something in return. Even if the winner chooses to throw a few bills in your direction as a thank-you, there are rules that cap the amount of money that may be given as a tax-free gift.
By the way, if you receive a lottery ticket and it hits the jackpot, make sure you sign it. Immediately. If you don’t and you lose it, anyone else can cash in on your gift that could have kept on giving.
Sure, It Can End Happily
It’s not all doom and gloom, holiday gift-giving miracles do happen.
We do stand firm of the view that lottery tickets are generally bad choices as gifts. Rarely do they net any cash, and it pretty much means that the person gifting the ticket forgot to get something better.
But, there is the case of 2014 winner Deisi Ocampo.
The 19-year-old from Chicago was presented with two instant lottery tickets for Illinois’ $100 Million Money Mania by her dad. One of those tickets ended up being worth a cool $4 million. For Ocampo, it was probably the happiest birthday ever.
Don’t Be a Larry or Bertha!
Ocampo’s windfall is rare. Lady Luck was simply on her side.
Giving a lottery ticket as a gift is just not a good idea. It’s thoughtless and rushed, and it doesn’t say very much about how you feel for the recipient. And then there’s that whole grudge thing if it wins and you’re sitting sipping office coffee day in and day out while they live it up thanks to you.
It’s a no-win situation, especially for you! Our suggestion?
Buy yourself the lottery tickets, cross your fingers, do a lucky dance and keep hoping it’s you who will be living it up with the next big jackpot win. If you win big, imagine the gifts you’ll be able to buy others in the future, too!