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 local language it is called
'AKAWO contribution' it is done by few collective numbers of workers in the same organization who shear the same opinion and idea of contributing a certain amount, that is affordable for the purpose of achieving a tangible thing in the space
ofor the duration of the time been during the contribution. it is usually done by 4,5 to 6 people representing 4 to 6 month depending on the number of the contributor. although this strategy really help though, but to everything that has advantage also has disadvantages. the bad side is that some guys will be lucky to take first depending the outcome of the coin flip, but the problem is that most guys will default in the time of their return especially the people that took first, an it will eventually lead to problem since everyone is not the same except it is a registered cooperate organization that will penalize defaulters. i have involved myself in this before but trust me one or two persons will always be the problem at last after they have taken. so i will advice anyone that want to save for something to develop the habit of saving as little as they can at the end of every month. or better still automate your savings from the bank so that a certain amount will be deducted from your salary at the end of every month to avoid the problem of defaulters.
This is the 1st time I've heard about a salary lottery and I'm curious to know in which region exactly this is popular? For me, such entertainment seems "wild" and I'm 100% sure no one here would want to participate in such types of bets.
This topic would be better suited for discussion in the gambling section.
No, this topic does not belong to the gambling board. It is better on the economic board and not related to gambling because this is neither gambling nor betting nor lottery. If you read the OP post, you will understand how it does not belong to gamble board, I guess you did not read the OP.