How popular is salary lottery in your workspace?

[o48o]

It sounds like saving but with extra step and the lucky people got their saving upfront but still need to pay.
Never heard it happened in my work place honestly. The one problem that I can see in this mechanism is you're trusting the middle man and other member way too much, what if they don't want to pay after receiving the money? that's a huge concern and risk right there.

Personally I just gonna save my money and wait for 6 month than having those risk.
Maybe smart contract can come into play for something like this, automatically sending salary to contract address to keep participant from not paying but even then there's also implication here and there.

We have automatic systems where you can pick a group lottery up up to 50 people i think, and everyone gets their own official ticket for it, so share is automatically 1/50. So i don't see any reason for involving smart contract for this.

Difference between everyone just buying a same row, and a group lottery, is that you can buy up systems of several more balls with fraction of the cost then you could on your own.

Not that anyone would have actual changes for jackpots with any system, but it's a nice idea for the group to get same amount if they are lucky.

Problem i would see that not everyone is going to stay at the same job rest of their lives, so they would fear that group would finally win without them, when they quit for another job or retired.

[bhadz]

This is commonly known in our country as "paluwagan". The same concept and the same style of paying/receiving in order. But the problem with the participants, after receiving their salaries they won't pay anymore so those who are in the last orders will get lesser pay. That's why I avoid this kind of thing and even with relatives, you can't trust them. If you're going to do this, make sure that you know well all the participants and are responsible payers as well and won't just leave behind those who haven't received their salaries yet.

[HONDACD125]

This is commonly known in our country as "paluwagan". The same concept and the same style of paying/receiving in order. But the problem with the participants, after receiving their salaries they won't pay anymore so those who are in the last orders will get lesser pay. That's why I avoid this kind of thing and even with relatives, you can't trust them. If you're going to do this, make sure that you know well all the participants and are responsible payers as well and won't just leave behind those who haven't received their salaries yet.

It's done in our country as well, and we call it a "committee" because it's done like that. It's a committee formed by a group of people who will contribute money every month, and each month, one person is chosen within the committee through a lottery who will take all the money for that month, and the same thing is done every month until every person gets their money. The person who gets the money won't have their name included in the next lottery but will keep paying money until it ends. The purpose of this is to allow people to have a large sum than they could normally have for anything they want to do, and then repay it in installments, or simply get yours at the end which is like you have been saving money.

The person who takes care of the finances will be responsible to collect money from each member every month, so it is important for them to only include people who they know will pay the money without creating any problems, because if they include someone who doesn't pay, they will have to pay the money from their pocket and then collect the money from that person later, or simply have two slots for themselves.

[Franklyn-wood]

This is commonly known in our country as "paluwagan". The same concept and the same style of paying/receiving in order. But the problem with the participants, after receiving their salaries they won't pay anymore so those who are in the last orders will get lesser pay. That's why I avoid this kind of thing and even with relatives, you can't trust them. If you're going to do this, make sure that you know well all the participants and are responsible payers as well and won't just leave behind those who haven't received their salaries yet.

It's done in our country as well, and we call it a "committee" because it's done like that. It's a committee formed by a group of people who will contribute money every month, and each month, one person is chosen within the committee through a lottery who will take all the money for that month, and the same thing is done every month until every person gets their money. The person who gets the money won't have their name included in the next lottery but will keep paying money until it ends. The purpose of this is to allow people to have a large sum than they could normally have for anything they want to do, and then repay it in installments, or simply get yours at the end which is like you have been saving money.

The person who takes care of the finances will be responsible to collect money from each member every month, so it is important for them to only include people who they know will pay the money without creating any problems, because if they include someone who doesn't pay, they will have to pay the money from their pocket and then collect the money from that person later, or simply have two slots for themselves.

Yes it is also done in my country by many people in different forms. This depends on the agreement between all in the group. They usually state how many people should be involved and the amount each participants will have to contribute each month multiply by the number total number of the group.
It is always helpful, if all the people involved corporate by submitting there money as at the time due.
This is more like having a long time savings without interest. I have heard a lot of people through this process achieved what they can't achieve ordinarily by saving there money by themselves, and also helps to control and limit there spendings through out the period of time they will be doing this.

[bhadz]

This is commonly known in our country as "paluwagan". The same concept and the same style of paying/receiving in order. But the problem with the participants, after receiving their salaries they won't pay anymore so those who are in the last orders will get lesser pay. That's why I avoid this kind of thing and even with relatives, you can't trust them. If you're going to do this, make sure that you know well all the participants and are responsible payers as well and won't just leave behind those who haven't received their salaries yet.

It's done in our country as well, and we call it a "committee" because it's done like that. It's a committee formed by a group of people who will contribute money every month, and each month, one person is chosen within the committee through a lottery who will take all the money for that month, and the same thing is done every month until every person gets their money. The person who gets the money won't have their name included in the next lottery but will keep paying money until it ends. The purpose of this is to allow people to have a large sum than they could normally have for anything they want to do, and then repay it in installments, or simply get yours at the end which is like you have been saving money.

The person who takes care of the finances will be responsible to collect money from each member every month, so it is important for them to only include people who they know will pay the money without creating any problems, because if they include someone who doesn't pay, they will have to pay the money from their pocket and then collect the money from that person later, or simply have two slots for themselves.

It's pooling of funds but in order so that everyone gets to help each other. So there really is no difference at all from how it's being done in your country, my country and as well as OPs country. The important to be remembered here is about the people that will participate on it. As I've said, there are those after receiving their pay, they'll leave and won't contribute anymore for the others to receive the same pay. They're irresponsible and selfish and that shouldn't be included so, it's important to screen whoever would like to join it.

[junder]

In my country, this isn't actually popular, I don't even know if any companies have a similar salary system. I just think it's similar to what housewives in my neighborhood often do, which they call "arisan." The system works by having several people who have already joined deposit money with one person within a specified time, and it's drawn at that same time. Essentially, everyone gets a turn; it's like saving money. I can't explain it in great detail.

[Cheema02]

This practice is quite common among salary earners, they will choose among themselves who will be the first, second to the last person to carry the collection. If there's a disagreement over who to collect first or any numbers they will choose one method or another of selection that can be similar to gambling. Mostly it is pieces of papers that are folded with numbers and any number that you choose becomes your month of collecting of the agreed amount. I've never heard of where people will use all of their salaries for this contributions, I wonder how they will survive, it is mostly an agreed amount that will not affect the perticipants negatively.

Your practice is very common in our societies and is often known as a rotating saving system. In this system discipline and limits are involved so it works hundred percent. As we know salary earning individuals may contribute a specific amount which they can afford comfortably so it can't disrupt their basic needs according to monthly expenses so that's the reason why people don't put their whole monthly earnings into this system. For a lot of participants this system acts as a forced saving mechanism because you access a sum for emergency conditions or for investments. If we stay with that system responsibly it strengthens our financial discipline but when people overcommit beyond their capacity then problems are created.

[gibrab16]

This practice is quite common among salary earners, they will choose among themselves who will be the first, second to the last person to carry the collection. If there's a disagreement over who to collect first or any numbers they will choose one method or another of selection that can be similar to gambling. Mostly it is pieces of papers that are folded with numbers and any number that you choose becomes your month of collecting of the agreed amount. I've never heard of where people will use all of their salaries for this contributions, I wonder how they will survive, it is mostly an agreed amount that will not affect the perticipants negatively.

Your practice is very common in our societies and is often known as a rotating saving system. In this system discipline and limits are involved so it works hundred percent. As we know salary earning individuals may contribute a specific amount which they can afford comfortably so it can't disrupt their basic needs according to monthly expenses so that's the reason why people don't put their whole monthly earnings into this system. For a lot of participants this system acts as a forced saving mechanism because you access a sum for emergency conditions or for investments. If we stay with that system responsibly it strengthens our financial discipline but when people overcommit beyond their capacity then problems are created.

Yeah, this is spot on and very relatable.

That rotating savings system works because it has structure discipline, limits, and clear rules. People only put in what they can comfortably afford, so it doesn’t mess up rent, food, or basic monthly needs. That’s why nobody sane dumps their entire salary into it.

[bakasabo]

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.

This is some very strange custom I've never heard of, and I can't imagine how it works where I live. I don't understand how family members can support one member of the family for six months. After all, if, for example, the head of the family—the husband—played the game you described, how could his wife support him for six months, especially if they have a small child? In general, this game is most likely intended only for fun-loving individuals who don't have the burden of responsibility for anyone.

These are either teenagers or women dependent on their husbands.

I dont understand other thing, how to determine order who is 1st, 2nd, last by coin flip. That is 50/50, Yes or No kind of answers you can get by coin flip. There are 6 of them. What those employees are going to do, if someone who is not last, collects salary of other five persons and quit or get fired?

In this weird lottery, only first get most benefit of collective salary, others suffer from 1 to 5 months of being a financial burden for a family. Last one employee is in huge discomfort or stress, because he will have to live 5 months in debts. Even if employees have families, that "fun" lottery makes their monthly budget twice low.

[abhiseshakana]

This practice is quite common among salary earners, they will choose among themselves who will be the first, second to the last person to carry the collection. If there's a disagreement over who to collect first or any numbers they will choose one method or another of selection that can be similar to gambling. Mostly it is pieces of papers that are folded with numbers and any number that you choose becomes your month of collecting of the agreed amount. I've never heard of where people will use all of their salaries for this contributions, I wonder how they will survive, it is mostly an agreed amount that will not affect the perticipants negatively.

Your practice is very common in our societies and is often known as a rotating saving system. In this system discipline and limits are involved so it works hundred percent. As we know salary earning individuals may contribute a specific amount which they can afford comfortably so it can't disrupt their basic needs according to monthly expenses so that's the reason why people don't put their whole monthly earnings into this system. For a lot of participants this system acts as a forced saving mechanism because you access a sum for emergency conditions or for investments. If we stay with that system responsibly it strengthens our financial discipline but when people overcommit beyond their capacity then problems are created.

Such practice called Arisan (joint saving) in my country. Its very familiar identically with women's monthly gathering event. all the member collecting money or stuff which have same value and then draw periodically until all the member get choosen. This paractice actually can not separated from women's live in my country and common practice, one people can follow many joint saving. But now some people also refused and avoid this practice especially moslem, because in islamic rule this practice categorized as debt and credit, even islam not prohibited debt but better avoid it.

What I and my wife do, we only join this joint saving in our neighborhood with very small amount around usd 3-4/ month which actual purpose to keep communication and socialization with neighbor. We avoid arisan because we don't want to put our egg in common or other people basket. When the money is not in our account or wallet, it is not safe, considering any bad possibilities such as other member can not pay or not willing to pay after their name drawn before ours and many case in my country, manager of this joint saving suddenly run away with member's money.

For other before join this joint saving please put on your mind this question mark, If those money flew away, will I be safe and stand still? Because such practice has no return and only shifting your in out cashflow with the risk of conflict between member, fraud by manager & dismissed, i suggest only put small percentage on your budged from social fund post, dont take it from saving budged or saving budged. Mostly think such practice like saving but the risk bigger, so just ensure it is not ruin your cahflow management if something happen.

[avp2306]

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.

This is some very strange custom I've never heard of, and I can't imagine how it works where I live. I don't understand how family members can support one member of the family for six months. After all, if, for example, the head of the family—the husband—played the game you described, how could his wife support him for six months, especially if they have a small child? In general, this game is most likely intended only for fun-loving individuals who don't have the burden of responsibility for anyone.

These are either teenagers or women dependent on their husbands.

I dont understand other thing, how to determine order who is 1st, 2nd, last by coin flip. That is 50/50, Yes or No kind of answers you can get by coin flip. There are 6 of them. What those employees are going to do, if someone who is not last, collects salary of other five persons and quit or get fired?

In this weird lottery, only first get most benefit of collective salary, others suffer from 1 to 5 months of being a financial burden for a family. Last one employee is in huge discomfort or stress, because he will have to live 5 months in debts. Even if employees have families, that "fun" lottery makes their monthly budget twice low.

Maybe they have their own set up to determine who's going to be the first until the last person will to coinflip. Also I don't find any sense on this kind of set up since its really risky for those people didn't win.

Because the winner can immediately leave his job and those people left might carry out the consequences done by the winner. So better they need to fix the system and retain it to standard which is fair to anyone.

This lottery salary type is only benefiting the first person win, the rest of it will face lots of months full of stress and this is not really sustainable then might end up destructive rather than being helpful to people.

[AgriTrack]

If you’re last in line, you’re working months w/o cash
Relies heavily on family support
One person dropping out = whole system breaks
Encourages lump-sum spending, not discipline
It also shows a deeper issue you pointed out: many ppl work just to pass time, not to build life. Job = routine, not progress.
These schemes exist bcz ppl can’t save on their own and wages aren’t enough to breathe. Short-term relief, long-term trap if repeated.

I see it differently, I don't think this practice is trap anything can be trap if it is done without planning. So only giving the label to this activity is not good. It is an activity that encourage all for saving. In my society many people practice this and find it good for saving. it is very popular way because by this people can save some amount aside just to deal with their education expenses or medical treatment or sometime for marriage purpose. So actually it helps us, it is not a harm activity.

By this people get certain amount in their hand without paying bank interest. That's why it attracts many people. dropping out one person can disturb the group but it happened very rare. Usually people start this only with trusted members and one interesting thing is that everyone is known about his number so there is very little chance fight. Overall, this system work for the betterment of the society

[EarnOnVictor]

-Snip-
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.

This could be happening in my country, but it's not something I'm aware of. You mean not half, not 1/3 of the salary, or even 2/3 of it, but the whole amount? This is crazy!

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.

It's as if you knew my mind?

It would be hard on all of them at a point. Well, having other means of sustenance is a cool one. It's no child's play if they are relying on that money. However, the beauty of this is the opportunity to use the money to buy assets or invest in business, etc. It's just like the Thrift program. It has helped many people achieved capital projects.