Since holiday is coming and let the discussion diverted slightly from serious topic. What prompted me to discuss about this was the phenomenon observed on draw dates for 4D betting in Malaysia. Normally these area will be slightly congested especially during few hours before bet closing time on draw dates. Some of the hawkers will also set up their stall near to these shops on draw date.
4D betting in Malaysia take place around 3-4 times a week.
What is the reason for these customers to place their bet? Is it due to Greed? Everyone would like to get rich without having to work? Do we really think that the desire to become richer is Greed? Or is it because the method to become richer by placing a bet is considering greedy because the amount of effort placed is less?
Would it be HOPE? Would it be they are actually buying a HOPE. By placing a bet of RM 1, one is hoping that he/she could win RM 50 ~ RM 2,000. Multiply the amount by 10 or even 100, that person still could not be rich enough to stop working. It is just a hope of winning some to lessen their burden for a period of time or loosen their financial stress for a period of time. How often we heard of a story that one become wealthy enough to stop working and enjoy a life after winning a 4D bet. But still the story of a single person could inspire thousands, ten thousands or even hundred thousands of others who have not win any for their whole life to continue to pay for the HOPE.
A lot of people are willingly squeeze the budget to buy a hope. How high is that hope actually? Statistically, the winning of 1st prize is 1:10000 and by betting the correct 4D, one win about RM 2,500. Statistically in order to win RM 20,000, one will have to bet RM 8 for each betting date at 3 different operators in Peninsular Malaysia which sum up to RM 24 for a chance of 0.01%. Multiply by 3 draws and 4 weeks a month, it will sum up to RM 288 a month.
Now, let’s face a reality of life. The probability of getting a cancer in Malaysia by age of 75 is 15%. Or we could calculate new cancer cases in year 2012 over 29.3 Millions of population in Malaysia, the probability stands at 0.13%. This is 13 times higher than the chance of hitting 4D. With the same budget, one can prepare an emergency fund of RM 1 Million per year and could include other financial threatening possibility. Further to that, most of the time, the money invested for this risk mitigation plan come with certain saving. (Statistic from : Malaysian Cancer Oranisations and Resources)
The purpose for this post was not intended neither to against anyone/anything nor promoting betting.
*This post was started before Chinese New Year season, but wasn’t completed until today. Since it’s completed now, just for reading pleasure. Next discussion will be on GST on property.