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4th March 2012, 07:13 PM | #241 |
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21st March 2012, 09:50 PM | #242 |
I lost an avatar bet.
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MegaMillions has rolled quite bit:
1 in 175 million chance of winning 137 million dollars. Maybe I'll buy a ticket. Won't I look silly if I win after making all those posts? Any advice on what numbers to play? |
21st March 2012, 10:33 PM | #243 |
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22nd March 2012, 03:29 AM | #244 |
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In just looking at the last two drawings, when all the numbers were low there were 68 tickets that picked the winning combination. When all the numbs were high, there were only 7. If that pattern is confirmed on the other drawings it would mean you should stay away from low numbers if you want to maximize your winnings. |
22nd March 2012, 03:38 AM | #245 |
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22nd March 2012, 04:59 AM | #246 |
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How is the prize paid out?
One thinQuote by Ben Goldacre: "You cannot reason people out of a position ... www.goodreads.com/quotes/show/145760 27 people liked this quote by Ben Goldacre: 'You cannot reason people out of a position that they did not reason themselves into.' that's always bugged me is the false or at least misleading advertising that lotteries are allowed to put out there. For instance, telling someone the prize is $1,000,000, but then telling them it has to be paid out over 20 years, is bait and switch. While no one in their right mind would mind $50,000 a year for 20 years, it's a far cry from being handed a million dollars, even considering the up front taxes. In the US, most lotteries will give you a lump sum payment as an option, but it is a markedly reduced amount from the advertized jackpot. No other financial device would be allowed to overstate the actual value of a return in this way. It's a racket. |
22nd March 2012, 05:04 AM | #247 |
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Well, that would have worked, but for the fact that you just blabbed a perceived pattern - one that I'm sure no one else on the planet noticed.
Now everyone will stay away from those low numbers, meaning that those are exactly the ones to choose. Unless this post is more widely read than I figure, in which case don't choose the low ones - they'll be... Wait. Now I'M confused! |
22nd March 2012, 09:06 AM | #248 |
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If everybody applied perfect reasoning, there might be a dilemma. But since the majority of these people regularly play the lottery, we are guaranteed that there is little if any reasoning being applied.
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22nd March 2012, 10:06 AM | #249 |
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I apologize. I am usually much more precise when quoting figures such as this one.
$137 million is the lump sum after federal taxes. $205 is lump sum before taxes. $290 is the before taxes annuity payout total. (that's the one that appears in big type on the billboards). |
22nd March 2012, 10:12 AM | #250 |
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26th March 2012, 09:14 PM | #251 |
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I bought my ticket too late for that drawing. Now, I am holding a ticket for a 1 in 175 million shot at
$363 million $260 lump sum $174 after federal taxes I am within chipping distance of positive expectation territory. Woot. |
26th March 2012, 10:30 PM | #252 |
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26th March 2012, 11:10 PM | #253 |
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26th March 2012, 11:14 PM | #254 |
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26th March 2012, 11:45 PM | #255 |
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26th March 2012, 11:49 PM | #256 |
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28th March 2012, 12:09 AM | #257 |
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28th March 2012, 07:03 AM | #258 |
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28th March 2012, 07:11 AM | #259 |
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In the US, gambling winnings are taxable on the federal level. Its reported on a W2-G. Most states with their own income taxes are based on the federal rules.
Gambling expense is deductible to the extent of winnings. IOW, if you win a $50,000 jackpot but can document $10,000 in losing tickets, you only pay tax on the difference ($40,000 in this case). Though illegal, some people will pick up discarded losing tickets (like at a racetrack) and use those to show expenses. As I said before, I was in a relationship with a compulsive gambler, so I know this first hand. |
28th March 2012, 07:40 AM | #260 |
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BTW, taxes can be a huge issue on game shows.
Good overview here: http://www.dailyfinance.com/2010/01/...ame-show-winn/ |
28th March 2012, 09:58 AM | #261 |
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21st April 2012, 02:01 PM | #262 |
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Yesterday in the NZ Lotto the drawn balls were 11, 12, 13, 15, 16. The “missing 14” was the 7 ball. Almost a Royal Flush!
Even with this “unlikely” combination there were three First Division winners. Guess they could have all been computer picked tickets. |
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Paranormal/supernatural beliefs are knowledge placebos. Rumours of a god’s existence have been greatly exaggerated. Make beliefs truths and you get make-believe truths. |
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21st April 2014, 09:39 PM | #263 |
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Advice on what numbers to play: none. They make roughly as much PROFIT as the payouts. In comparison, even a low-paying poker machine pays out seven times the profits. (N.B. I'm saying that they make profits in both, however.)
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22nd April 2014, 05:03 AM | #264 |
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Wow!
Zombie thread. Looking back on posts I made about 4 years ago, I made some pretty decent points! |
22nd April 2014, 04:36 PM | #265 |
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