How popular is salary lottery in your workspace?

[peter0425]

of course it does not belong to gambling board, people thought its a gambling post simply because  op mention lottery, perhaps it doesn't have anything related to gambling. the op would have just make the post without involving lottery because this is just a contribution that involve coin flip to know who to take first.

It is not really lottery though because lottery does not give you a guarantee that you will win but this system seems like you know you will be given a chance to get all the money, you are just not sure when. It is a gamble in a sense that we are talking about work salaries because what happens if there is an emergency but it is not your turn yet?

[fruktik]

In my region, salary lotteries are very popular in many workplaces. I don't know what's the exact English term for his but we call it that name. The purpose of salary lottery is that 5-6 employees collect together and they play lottery. The first winner gets the salary of every worker, in the next months the second winner gets everyone's salary and that's it. There isn't a random winner, everyone gets their salary back but the fate of who is the first person to receive the salary is decided via a simple coin flip.

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

In my city, at the enterprise, it was a little different. The game was called "Kotel". Simply put, you can call it a bankroll. What's the point? There is a team of several people. Every salary, the workers give part of the money. It is a small amount, but for the recipient it is quite noticeable, since the team is large. And so on in turn. Can this be called a game? I don't think so. Most likely, it is more like financial support, but at a certain time. It is like the 13th salary, which is given to all workers at the end of the year. If you want, you can call it a bonus.

[SOKO-DEKE]

In my region, salary lotteries are very popular in many workplaces. I don't know what's the exact English term for his but we call it that name. The purpose of salary lottery is that 5-6 employees collect together and they play lottery. The first winner gets the salary of every worker, in the next months the second winner gets everyone's salary and that's it. There isn't a random winner, everyone gets their salary back but the fate of who is the first person to receive the salary is decided via a simple coin flip.

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

I don't really know much about this type you are talking about. The one I do know about is called contribution in my country, which can be done either monthly or weekly. For those who earn a salary, theirs is usually based on a monthly contribution, while for wage earners, it can be weekly.Now, it’s not that everyone must contribute all the money they receive as salary or wages. It's all about the person's capacity how much he or she wants to put into the contribution.

Because of arguments about who should take the first or second turn to collect the money, some groups have come up with the idea of writing numbers on small sheets of paper. These numbers depend on the total number of people participating in the contribution. The person who picks number 1, 2, 3, etc., will receive the contributed money in that order, and the process continues until the end.As for contributing one's full salary, I can't say for sure  but I know it’s possible, because some people have multiple sources of income.

[Charles-Tim]

of course it does not belong to gambling board, people thought its a gambling post simply because  op mention lottery, perhaps it doesn't have anything related to gambling. the op would have just make the post without involving lottery because this is just a contribution that involve coin flip to know who to take first.

Yes, it has nothing to do with gambling at all. I will not blame the OP for including lottery, although definitely it has nothing to do with lottery, but I will blame the people that just read the topic title and just concluding that it is lottery and post that it belongs to the gambling board which is absolutely not correct. This are the kind of people that will read news headlines and make conclusions which can turn the news into something of another meaning. They should not just read the topic title but also read the topic post.

[Altryist]

In my region, salary lotteries are very popular in many workplaces. I don't know what's the exact English term for his but we call it that name. The purpose of salary lottery is that 5-6 employees collect together and they play lottery. The first winner gets the salary of every worker, in the next months the second winner gets everyone's salary and that's it. There isn't a random winner, everyone gets their salary back but the fate of who is the first person to receive the salary is decided via a simple coin flip.

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

What is the point of this? I understand that the person who gets all six salaries first will be able to use that money for a while, so it turns out to be an interest-free loan. But for the one who receives their salaries last, they are simply giving their money for someone else to use without any interest. I see no sense in this and I would definitely never take part in something like that. If you know how to manage money and know where to invest it, it is much better to set aside a certain amount every month and let that money work for you and bring you profit.

[Charles-Tim]

What is the point of this? I understand that the person who gets all six salaries first will be able to use that money for a while, so it turns out to be an interest-free loan. But for the one who receives their salaries last, they are simply giving their money for someone else to use without any interest. I see no sense in this and I would definitely never take part in something like that. If you know how to manage money and know where to invest it, it is much better to set aside a certain amount every month and let that money work for you and bring you profit.

It may not make sense to you but it makes sense to some people. I have posted before that it is common in my country, although not as a lottery but some people still prefer to write numbers on a small paper, fold it and tell people to chose, which is used to know when each person will receive their money but not all the time as this can easily be discussed in a meeting. Some people prefer to collect last voluntarily while some people will prefer first or second.

You can even see one on Nigeria local board: 🔥Bitcointalk Weekly Akawo] Naija Friends

[Roseline492]

I'm very familiar with this method but however I got a little bit confused when you call it a salary lottery because that's not what we call it in our region, we call it a Contribution, however how this is done in my country is that the company will not be involved but instead five to eight workers will decide to do a contribution for monthly basis, although most people do not use flipping of coin to decide who will be the first to received because they usually have an understanding about it so they would tell each person the month they would receive there money and sometimes they continue after everybody would have gotten there payment.

As he imply, he only call it like that because he also don't know the exact name of it. Still, the name made sense due to how it works. Same goes to you but I think the one you have there is totally different from what the OP is talking about.

What do you mean by the way when you say "everyone has understanding" ? Does it mean that the contribution is based on somebody's need?

First of all let me state the reason how the understanding came about, actually the other person was saying how they usually get to choose the first person to receive the salary for all the people who are into the salary lottery is by flipping coin so this made me to say that in my place from how we usually do our salary lottery is that we don't use the flipping coin because we already understand ourselves that anybody who wants to receive on a particular period can go ahead to state it, so actually that's what the understanding meant, although one thing we must no is that the way other places could use it might not be the same as other people.

[coin-investor]

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

We call this Paluwagan in our country. Yes, the concept is very similar to what you describe, but it only works if all participants have a commitment and are honest.

Many locals here are involved in this concept, but not in a way that consists of committing their full salary. The norm is to commit 10 to 20% of your salary or income. It’s challenging when you commit your full wage, because you never know if there’s an emergency or unexpected expenses. If you commit your full salary, you will have to take out loans to cover those unexpected expenses.

I only joined once on this concept, and I do not repeat. I prefer to keep my money, so if there’s an emergency, I can easily retrieve it from either a safe deposit box or a bank.

[Z-tight]

This is a funny activity, i would never do it if it were a thing where i live, but thankfully it isn't. What is the guarantee against default from the other individuals involved in this, what if someone gets fired before everyone has has their turn. I would rather receive my salary and put a certain percentage of it into an investment, rather than doing this, but we are from different cultures, so i guess it is normal that appeals to you guys doesn't appeal to me.

[batang_bitcoin]

This is a funny activity, i would never do it if it were a thing where i live, but thankfully it isn't. What is the guarantee against default from the other individuals involved in this, what if someone gets fired before everyone has has their turn. I would rather receive my salary and put a certain percentage of it into an investment, rather than doing this, but we are from different cultures, so i guess it is normal that appeals to you guys doesn't appeal to me.

Those are the risks that one who's thinking of doing this and trying to get involved with. You'll not always have a complete pay from the participants because of what you've mentioned. They can also reason out not to pay when they're in need for their family or some debts that they have to pay for. It's likely that they are not going to prioritized this after getting the salary in their term. We all know people when it's about money, they wanna get it first but when it's their due, they don't want to get involved or have some excuses to say.

[PX-Z]

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

If it's okay for the employees, and they can manage to feed their family in the next 6 months without the assurance of getting the salary early, then yes, with the payment structure where payment getting higher every month if that's what you mean, i guess that worth the wait.

[Uruhara]

In my region, salary lotteries are very popular in many workplaces. I don't know what's the exact English term for his but we call it that name. The purpose of salary lottery is that 5-6 employees collect together and they play lottery. The first winner gets the salary of every worker, in the next months the second winner gets everyone's salary and that's it. There isn't a random winner, everyone gets their salary back but the fate of who is the first person to receive the salary is decided via a simple coin flip.

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

Ah, I understand this. Because here there are also methods or things like this. We call it ARISAN. It's just that we don't use all of our salary. But we only use about 20% to 50% of our salary. So we can still use the remaining salary to meet our needs every month.

And sometimes this method not only occurs in the workplace by employees but also in various other things. And usually involves more than 10 people. Sometimes in large quantities. Which makes the money collected quite large too.

And in the method of determining who goes first, it is determined by everyone writing their names on a small piece of paper. And rolled it up. And everything was collected and put in a box. And from this box every month one piece of paper will be taken at random. And the name that comes out will get money for that month. I've done that too.
But only once or twice. And after that I didn't like doing it anymore. because I think when we win the earliest. Then it will be like we have installments that have to be paid every month.

[Mahanton]

In my region, salary lotteries are very popular in many workplaces. I don't know what's the exact English term for his but we call it that name. The purpose of salary lottery is that 5-6 employees collect together and they play lottery. The first winner gets the salary of every worker, in the next months the second winner gets everyone's salary and that's it. There isn't a random winner, everyone gets their salary back but the fate of who is the first person to receive the salary is decided via a simple coin flip.

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

I don't really know much about this type you are talking about. The one I do know about is called contribution in my country, which can be done either monthly or weekly. For those who earn a salary, theirs is usually based on a monthly contribution, while for wage earners, it can be weekly.Now, it’s not that everyone must contribute all the money they receive as salary or wages. It's all about the person's capacity how much he or she wants to put into the contribution.

Because of arguments about who should take the first or second turn to collect the money, some groups have come up with the idea of writing numbers on small sheets of paper. These numbers depend on the total number of people participating in the contribution. The person who picks number 1, 2, 3, etc., will receive the contributed money in that order, and the process continues until the end.As for contributing one's full salary, I can't say for sure  but I know it’s possible, because some people have multiple sources of income.

Same here on which I do only know about having those contributions on which it is that being pooled by those workers or employees who do run off with that kind of funding on which a certain person would be having that turn on getting that amount and they would be doing it on rotation basis, and even its being applied when it comes to food packages as well on which they will be having that their turn on who would be the one to get but of course you would be needing up to pay neither on weekly or monthly basing up into the amount that being agreed upon. Now that we are talking about for some sort of salary lottery then i doubt that this would be that ideal yet having no salary for 6months time is hard specially when you do have a family. Lets say that you would be that needing up some management of the funds for 6 months on which I could say that I wont be able to last it out considering that there would be that huge chance that you would be able ot spend those amounts in no time. I havent been able to hear out this kind of set up here in our country but if there's some existing ones then if people do see it out that to be interesting or they can be able to take advantage on, then so be it or as long they do agreed upon then there would be no issues. Usually when it comes into these kind of set-ups on which there are those individuals who cant be able to repay up that well on which this could cause up with some potential conflicts. Usually these kind of set up could cause up that potential problems if ever that one of them wont be able to repay or could be able to fulfill on whats the agreement specially if they have already spend up the money that they do have.

[Helena Yu]

I wonder does all participant who participate in that salary lottery consider that as fun?

It's really different in my place, even you only ask 10% of their salary to buy gift/cake for birthday of each employee including themselves, they still find it's hard to do and better to use the money for important needs.

Many of them complaint about this, if they have an option to not participate and also not get the gift when they're on their birthday, they will choose this option.

[Dunamisx]

In my region, salary lotteries are very popular in many workplaces. I don't know what's the exact English term for his but we call it that name. The purpose of salary lottery is that 5-6 employees collect together and they play lottery. The first winner gets the salary of every worker, in the next months the second winner gets everyone's salary and that's it. There isn't a random winner, everyone gets their salary back but the fate of who is the first person to receive the salary is decided via a simple coin flip.

This is not being practiced in my own country, except if individuals and the members of the same company or organization wished to collectively engaged on something collective in such manner and choose a coordination for it, but mostly are very difficult in finding that people are unanimously cooperated together, but the entire process of using the lottery idea or pattern is very common and more effective, because of the fair justice in the whole process, and that is if they all come together to agree on this approach by themselves unofficially.

[TopTort777]

I would pass with such salary lotteries Majoe reason would be - I dont want my collegues know how much I earn and it will be unfair and lie to avoid being judged or laughed. Isnt salary is something personal, something that not everybody should know (except wife lol).

But we have (better say had) darts tournament. Everyone throw 10bucks in a pot and we have a tournament, where winner takes everything. I think we have stopped playing, because boss did not allow to play during working hours anymore, and after working hours everyone run home.

[tsaroz]

In my region, salary lotteries are very popular in many workplaces. I don't know what's the exact English term for his but we call it that name. The purpose of salary lottery is that 5-6 employees collect together and they play lottery. The first winner gets the salary of every worker, in the next months the second winner gets everyone's salary and that's it. There isn't a random winner, everyone gets their salary back but the fate of who is the first person to receive the salary is decided via a simple coin flip.

For example, imagine that there are 6 people and salary of each person is $1000. They determine via coin flip who is the 1st, 2nd, 3rd, 4th, 5th and 6th. First gets $6000 in the end of the month, in the next month, the second gets $6000 and in 6th month, the 6th person gets $6000. You may ask me how do they live for 6 months without a salary? Family members take care of them. Too many people work for fun because sitting at home is boring for them but they don't have enough money to have fun too.

We used to have similar things but it was never the 100% of the salary. It was like 25% of everyone's salary pooled and 1 member got it mostly through common decision or lottery. When a member claimed they have the need and other members agree on it, he/she got the first priority. When there are multiple people demanding it, they would go through a lottery. At the end everyone would get their money back some sooner while some later.

But this is completely stopped now and is replaced by something more like a bank. Even today a portion of the salary is pooled, there is a minimum and maximum you could put to the pool and employee could decide the amount. The members could ask for loans which are provided at a fixed interest rate. 12% in our case. The amount they can demand is also not unlimited, all they can ask for is 200% of their savings+2 months salary.

The interest collected is also pooled and at the end of the year, the interest is distributed according to contribution. There are no fixed returns but it ranges 5-10%, which are better than what banks provide. The interest on loans are higher than bank but there's no paperwork and need to put collateral so there's always not enough liquidity to loan. The getting of interest is also secured as no one is allowed to transfer out without paying their due and our office could held back amounts even if people retire.

[Republikcoin.com]

...

It is not really lottery though because lottery does not give you a guarantee that you will win but this system seems like you know you will be given a chance to get all the money, you are just not sure when. It is a gamble in a sense that we are talking about work salaries because what happens if there is an emergency but it is not your turn yet?

If an emergency occurs to someone who is still working for someone else and he has not received his salary when the emergency occurs, then the most likely thing that will happen to that person is to make a debt in the hope of being able to pay it immediately after he receives his salary. But for me that is difficult even though we need to resolve the emergency immediately because it also comes suddenly, that is why every worker who is still very dependent on his monthly salary at someone else's place must have a little savings for emergencies. So every time he receives his salary, at least he must set aside a little for that before he uses it all for other things.

[Samlucky O]

of course it does not belong to gambling board, people thought its a gambling post simply because  op mention lottery, perhaps it doesn't have anything related to gambling. the op would have just make the post without involving lottery because this is just a contribution that involve coin flip to know who to take first.

It is not really lottery though because lottery does not give you a guarantee that you will win but this system seems like you know you will be given a chance to get all the money, you are just not sure when. It is a gamble in a sense that we are talking about work salaries because what happens if there is an emergency but it is not your turn yet?

that's why it is not advisable to participate in such contribution using all your salary. Most guys will offer all their monthly salary to the next person hoping to get all back during their turn, but of course that is not good because if emergency comes and there is no fund, it will definitely going to affect such person. So The best way to do such contribution is to divide your salary by 3 use 1 part for such contribution and use 2 part for yourself sothat when there is an emergency the person will not be looking for where to get fund to bail himself out but he will use some percentage out of the 2 he has to sort himself out.

[retreat]

In my old workplace, we had a lottery similar to this, but we didn't use full salaries, instead we collected $30 USD every month and then drew it to 20 people who participated in it. So every month for the lucky person they would get $600 USD which was quite a lot of money at that time. It was a fun lottery I think, but the only problem was when there were 2 people who resigned during the lottery, the person in charge of the lottery had to visit their house and force them to pay. That was the only problem.

So if you play the lottery, just hope that you can get the money at the beginning of the game. If you get the last number, maybe it's your bad luck because usually at the end of the lottery session there will be some players who have difficulty paying their obligations.