One dollar lottery tickets: Chance it daily?

Iamme · 26th November 2003, 07:01 PM

My friend just stepped out to buy his lottery ticket. It is a ritual for him. I don't gamble at all. Nadda. The last I ever gambled was probably almost 25 years ago when I got in on football lotteries at work. (or whatever you called those things). Before that, I would play Friday night poker with the guys.

When my friend got back from the store, I had the thought for this thread pop into my head (hey...it rhymes!). I said to him, "I wonder what the odds are if someone played the $1 lottery every day, what the odds are that you would at least get your money back ($365 in a year)? IF the odds were let's say 1:50 that you could do quite handsomely...would you take that chance, even if you weren't the gambler type? I need to know the odds before I would consider it.

Yahweh · 26th November 2003, 08:22 PM

I really dont think buying 1 ticket a day will improve the odds you winning by any significant amount...

roger · 26th November 2003, 08:29 PM

The expected payback does not change the more you pay.

And, since lotteries operate at a profit, if you play daily, you will lose (on average).

toddjh · 26th November 2003, 08:35 PM

Quote:

Originally posted by roger
And, since lotteries operate at a profit, if you play daily, you will lose (on average).

True. But, like most forms of gambling, not by much. My parents played the state lottery daily for quite a few years. My dad, being somewhat obsessive-compulsive, kept track of it. They very nearly broke even overall, and sometimes they were even ahead. The lottery they played had six numbers, with smaller prizes ($50-500) if you got four right.

Jeremy

roger · 26th November 2003, 08:52 PM

Sure. For example, this site shows that the expected value of a $1 ticket from the CA lottery is $0.97. There are worse ways to spend 3 cents than to buy a lottery ticket, I suppose.

Iamme, what the expected value means, is, that on average, a $1 dollar ticket will win $0.97. Of course, most of the time you lose, other times you match a few numbers and win $2, $10, once in a great while $100 or so. But on average you will lose more than you win, at the rate of 3 cents per ticket bought. Buying more tickets just means losing that much more money.

The Don · 27th November 2003, 04:31 AM

I the UK, only 50% of money goes into the prize fund, the rest goes to good causes and the lottery operator.

We do however have Premium Bonds which are a tax free savings vehicle. You buy a bond and it is added to the draw which is conducted every week. The maximum prize is £1million and there are many many smaller prizes. The bond continues to be in each draw until you redeem it (for the price you paid).

If you have enough premium bonds (say £10,000 worth) you can expect a tax free return currently running at about 3%.

A no-lose gamble (except for erosion of your original stake due to inflation) a rare beast indeed

Jon_in_london · 27th November 2003, 05:41 AM

Quote:

Originally posted by The Don
If you have enough premium bonds (say £10,000 worth) you can expect a tax free return currently running at about 3%.

A no-lose gamble (except for erosion of your original stake due to inflation) a rare beast indeed

With inflation currently around 2%, that pretty good. Lend me ten bags anyone?

Iamme · 27th November 2003, 11:04 AM

Interesting so far, guys. Keep 'em coming. If you want, you can expand this thread to take on higher wagers that have bigger payouts...IF this will change your opinion at all, as to if you are better off playing the nickle ante stuff, or taking bigger chances, but less often.

Solitaire · 27th November 2003, 01:46 PM

Quote:

Originally posted by roger
Sure. For example, this site shows that the expected value of a $1 ticket from the CA lottery is $0.97. There are worse ways to spend 3 cents than to buy a lottery ticket, I suppose.

Iamme, what the expected value means, is, that on average, a $1 dollar ticket will win $0.97. Of course, most of the time you lose, other times you match a few numbers and win $2, $10, once in a great while $100 or so. But on average you will lose more than you win, at the rate of 3 cents per ticket bought. Buying more tickets just means losing that much more money.

But of course, if you figure in state and federal taxes then the rate of return
goes down a little bit.

Kimpatsu · 27th November 2003, 04:16 PM

Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless!

toddjh · 27th November 2003, 04:23 PM

Quote:

Originally posted by Kimpatsu
Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless!

That's why I don't give recreational gamblers a hard time anymore. My boss came back from a week in Las Vegas $100 down. He had a great time. That's downright cheap for a week of entertainment. If you have some self-control and take steps to limit your potential losses, I don't think it's a bad thing at all.

Jeremy

Kimpatsu · 27th November 2003, 04:25 PM

Quote:

Originally posted by toddjh
That's why I don't give recreational gamblers a hard time anymore. My boss came back from a week in Las Vegas $100 down. He had a great time. That's downright cheap for a week of entertainment. If you have some self-control and take steps to limit your potential losses, I don't think it's a bad thing at all.

I went to Las Vegas last year. I lost all my stake money--eventually--but I had a blast doing it. The trick to gambling is never gamble more than you can afford to lose. That way it's entertainment. If you start gambling the rent money, you need to seek help. And fast.

rockoon · 27th November 2003, 05:47 PM

Quote:

Originally posted by Kimpatsu
Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless!

My advice tho is to use randomly generated numbers each drawing .. how will you feel if you forget to buy the ticket one week and "your" number comes up?

Think about it.

rockoon · 27th November 2003, 05:49 PM

Quote:

Originally posted by Synchronicity

But of course, if you figure in state and federal taxes then the rate of return goes down a little bit.

Its actualy quite hard to figure in taxes because you can write off gambling losses from gambling wins (at least in america). In such a situation if you lose money each year (as is expected) then you owe no tax at all. Save those losing tickets.

WildCat · 27th November 2003, 05:54 PM

The state lottery is such a suckers game that there is a parallel black market, mafia-run lottery here that actually pays better than the official state lottery does, using the same winning numbers of course.

Kimpatsu · 27th November 2003, 05:55 PM

Quote:

Originally posted by rockoon
My advice tho is to use randomly generated numbers each drawing .. how will you feel if you forget to buy the ticket one week and "your" number comes up?

I've bought a block of one year's worth of tickets, with the same numbers entered each time. No chance of forgetting that way.

Tony · 27th November 2003, 08:46 PM

Quote:

Originally posted by Kimpatsu

I went to Las Vegas last year. I lost all my stake money--eventually--but I had a blast doing it. The trick to gambling is never gamble more than you can afford to lose. That way it's entertainment. If you start gambling the rent money, you need to seek help. And fast.

What do you play?

Kimpatsu · 27th November 2003, 08:59 PM

Quote:

Originally posted by Tony
What do you play?

Blackjack, roulette, and the slot machines.
Of them all, roulette is the one with the least chance of winning.

BillyJoe · 28th November 2003, 03:19 AM

rockoon,

Quote:

Originally posted by rockoon
.. how will you feel if you forget to buy the ticket one week and "your" number comes up?

How would you feel if you forgot to set your alarm and you were hit by a meteor?

BillyJoe

Jaggy Bunnet · 28th November 2003, 04:37 AM

Quote:

Originally posted by Kimpatsu
Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless!

There is also the utility of cash to consider. For example the difference in lifestyle between having 50 pounds in your pocket or 49 as a result of buying a lottery ticket is relatively low (for most people).

The difference in lifestyle if you win the jackpot is massive.

Kimpatsu · 28th November 2003, 08:56 AM

Quote:

Originally posted by Jaggy Bunnet
The difference in lifestyle if you win the jackpot is massive.

I'll cross that bridge if I come to it. (My god, what a burden!

)

WildCat · 28th November 2003, 02:46 PM

Quote:

Originally posted by Jaggy Bunnet
For example the difference in lifestyle between having 50 pounds in your pocket or 49 as a result of buying a lottery ticket is relatively low (for most people).

Man, those kilts must have some big pockets.

Kimpatsu · 28th November 2003, 04:28 PM

Quote:

Originally posted by WildCat
Man, those kilts must have some big pockets.

Not as big as what's under them!

American · 28th November 2003, 07:05 PM

You can't win if you don't play. The key is to have a system. If you're losing, you probably didn't stick to it (not enough discipline), or you have to wait and ride it out until your luck turns around. Just don't get too greedy, and know when to quit - you can't lose!

Kimpatsu · 28th November 2003, 08:06 PM

Quote:

Originally posted by American
You can't win if you don't play. The key is to have a system. If you're losing, you probably didn't stick to it (not enough discipline), or you have to wait and ride it out until your luck turns around. Just don't get too greedy, and know when to quit - you can't lose!

It's people like you who keep the bookies in business...

69dodge · 28th November 2003, 11:54 PM

Quote:

Originally posted by Jaggy Bunnet
The difference in lifestyle if you win the jackpot is massive.

Quote:

Originally posted by Kimpatsu
I'll cross that bridge if I come to it. (My god, what a burden! )

Huh? He meant it was a good difference.

BillyJoe · 29th November 2003, 04:11 AM

Jaggy Bunnett and America....

Read this carefully....

YOU - ARE - NEVER - GOING - TO - WIN - THE - LOTTO.

Bjorn · 29th November 2003, 09:34 AM

Quote:

Originally posted by American
You can't win if you don't play. The key is to have a system. If you're losing, you probably didn't stick to it (not enough discipline), or you have to wait and ride it out until your luck turns around. Just don't get too greedy, and know when to quit - you can't lose!

Please show me a system where I can't lose. I need the money.

By the way, if the system guarantees that you can't lose, why do you have to wait 'until your luck turns around'?

BobK · 29th November 2003, 02:48 PM

Quote:

Originally posted by roger
Sure. For example, this site shows that the expected value of a $1 ticket from the CA lottery is $0.97. There are worse ways to spend 3 cents than to buy a lottery ticket, I suppose.

Iamme, what the expected value means, is, that on average, a $1 dollar ticket will win $0.97. Of course, most of the time you lose, other times you match a few numbers and win $2, $10, once in a great while $100 or so. But on average you will lose more than you win, at the rate of 3 cents per ticket bought. Buying more tickets just means losing that much more money.

I checked out the site roger posted and as far as I could tell, none of the figures posted on the page are correct. The site doesn't even have the correct number of balls.

Ergo, that $0.97 return on a dollar is BS.

In the long run, most state lotteries return $0.50 on the dollar or less.

Rat · 29th November 2003, 05:41 PM

I kind of expected a more hostile reaction in this thread. I play the lottery. I'm not ignorant of the odds, and I can comprehend what a million means no better or worse than anyone else.

There is no system, at least for the casual entrant. You will almost certainly lose. But then, the small prizes, when they come, are very welcome, while the pound or two in stake here and there are not missed.

If you can fantasize about what to do with the winnings without entering, then you have a better imagination than mine. Well done.

It is entertainment. Anyone who sees it as anything else is indeed deluded. But I just paid £400 for a television. That will provide no more entertainment per pound than the (considerably less) amount that I spend on the lottery this year.

Cheers,
Rat.

BillyJoe · 29th November 2003, 06:18 PM

Beats me what entertainment people get out of entering the lotto when they know that they cannot win.

Bjorn · 29th November 2003, 08:35 PM

Quote:

Originally posted by BillyJoe
Beats me what entertainment people get out of entering the lotto when they know that they cannot win.

Ehh ... of course you can win. Someone wins almost every week?

I saw an experiment where people were given 100,000 and then asked if they would bet the money in a set-up like this:.

Given a fifty percent chance of winning 300,000, would you bet your 100,000?

The odds are strongly in favor of betting, but most people declined - 100,000 in the hand is better than even very good odds to win three times as much. It is simply too much to lose.

A dollar lost on the lottery won't change your life. But if you win ...

BillyJoe · 29th November 2003, 09:56 PM

Bjorn,
my soft pupil....

Quote:

Originally posted by Bjorn
Ehh ... of course you can win. Someone wins almost every week?

Someone wins every week but it is NEVER going to be you.
NEVER.
Are you learning the lesson my little one?

Your hard teacher,
BillyJoe

American · 29th November 2003, 10:09 PM

Quote:

Originally posted by BillyJoe

Someone wins every week but it is NEVER going to be you.
NEVER.
Are you learning the lesson my little one?

I bet you NEVER thought you'd reach 4000 posts, or that you'd meet your wife or homosexual lover, or that you'd be arguing on the internet about winning the lottery.

You need to learn to LIVE, my man... how to let go and ride free. Let me know when you're ready.

BillyJoe · 30th November 2003, 12:09 AM

American,

Behave yourself, please.
You need to raise your hand if you wish to speak in class.
Now please sit down and listen.

Repeat after me....

I AM NEVER GOING TO WIN THE LOTTO.
I AM NEVER GOING TO WIN THE LOTTO.

BillyJoe.

ceptimus · 30th November 2003, 01:54 AM

There are (rare) occasions when the UK Lotto is actually a good bet. Normally half the prize money goes in tax, donations to 'good causes', and ludicrously high charges by the lottery organiser, 'Camelot'. So it's normally a game with a 50% expected return.

But in the case of a double rollover, there is sometimes more money in the prize fund than is collected in ticket sales, so on these rare occasions, the expected return can be over 100%.

Bjorn · 30th November 2003, 08:29 AM

Quote:

Originally posted by BillyJoe
Bjorn,
my soft pupil....

Someone wins every week but it is NEVER going to be you.
NEVER.
Are you learning the lesson my little one?

Your hard teacher,
BillyJoe

Pessimists never win a sh*t .....

The odds against me being born were worse, and yet here I am!

American · 30th November 2003, 03:03 PM

Quote:

Originally posted by BillyJoe

I AM NEVER GOING TO WIN THE LOTTO.
I AM NEVER GOING TO WIN THE LOTTO.

Bjorn said it pretty good.

Look at it this way- it takes dough to make dough, and that's no matter if you play Lotto or not. If you have the extra cash (cause you're a rich guy), then it's a lot like putting money into stocks. You might win, but don't even try if you don't got the extra scratch to spare. It's like riding on empty, you're car could die at any moment. It's better to have a little rainy day money stashed away, and if you have lots of it, then go ahead and play. You might get lucky!

BillyJoe · 1st December 2003, 03:07 AM

Bjorn,

Quote:

Originally posted by Bjorn
Pessimists never win a sh*t .....

I am a REALISTIC optimist.

Quote:

Originally posted by Bjorn
The odds against me being born were worse, and yet here I am!

The result is already out so it is nonsensical to speak of the odds of it ocurring......
But draw up a genotype - any one you like - and wait around to see if anyone gets born with this genotype.

You will NEVER win.

BillyJoe.

BillyJoe · 1st December 2003, 03:14 AM

America,

Quote:

Originally posted by American
Bjorn said it pretty good.

Quote:

Originally posted by American
Look at it this way- it takes dough to make dough, and that's no matter if you play Lotto or not. If you have the extra cash (cause you're a rich guy), then it's a lot like putting money into stocks. You might win, but don't even try if you don't got the extra scratch to spare. It's like riding on empty, you're car could die at any moment. It's better to have a little rainy day money stashed away, and if you have lots of it, then go ahead and play. You might get lucky!

The chances of you getting lucky with the lotto are ZERO.

Are you listening yet, America?

BillyJoe.

26th November 2003, 07:01 PM	#1
Iamme Illuminator Join Date: Aug 2003 Location: Western Wisconsin Posts: 4,622	One dollar lottery tickets: Chance it daily? My friend just stepped out to buy his lottery ticket. It is a ritual for him. I don't gamble at all. Nadda. The last I ever gambled was probably almost 25 years ago when I got in on football lotteries at work. (or whatever you called those things). Before that, I would play Friday night poker with the guys. When my friend got back from the store, I had the thought for this thread pop into my head (hey...it rhymes!). I said to him, "I wonder what the odds are if someone played the $1 lottery every day, what the odds are that you would at least get your money back ($365 in a year)? IF the odds were let's say 1:50 that you could do quite handsomely...would you take that chance, even if you weren't the gambler type? I need to know the odds before I would consider it.
	__________________ I lost my mind many years ago and it hasn't affected me a bit...a bit..a bit..a bit.

26th November 2003, 08:22 PM	#2
Yahweh Ayay ashay ayay Join Date: Apr 2003 Posts: 9,029	I really dont think buying 1 ticket a day will improve the odds you winning by any significant amount...
Yahweh Ayay ashay ayay Join Date: Apr 2003 Posts: 9,029

27th November 2003, 05:41 AM	#7
Jon_in_london Illuminator Join Date: Aug 2002 Posts: 4,994	Quote: Originally posted by The Don If you have enough premium bonds (say £10,000 worth) you can expect a tax free return currently running at about 3%. A no-lose gamble (except for erosion of your original stake due to inflation) a rare beast indeed With inflation currently around 2%, that pretty good. Lend me ten bags anyone?
	__________________ Radicals and Racists Don't point your finger at me I'm a small town white boy Just tryin' to make ends meet Don't need your religion Don't watch that much T.V. Just makin' my livin', baby Well that's enough for me

27th November 2003, 11:04 AM	#8
Iamme Illuminator Join Date: Aug 2003 Location: Western Wisconsin Posts: 4,622	Interesting so far, guys. Keep 'em coming. If you want, you can expand this thread to take on higher wagers that have bigger payouts...IF this will change your opinion at all, as to if you are better off playing the nickle ante stuff, or taking bigger chances, but less often.
	__________________ I lost my mind many years ago and it hasn't affected me a bit...a bit..a bit..a bit.

27th November 2003, 01:46 PM	#9
Solitaire Neoclinus blanchardi Join Date: Jul 2001 Location: Johnson City, Tennessee Posts: 1,735	Quote: Originally posted by roger Sure. For example, this site shows that the expected value of a $1 ticket from the CA lottery is $0.97. There are worse ways to spend 3 cents than to buy a lottery ticket, I suppose. Iamme, what the expected value means, is, that on average, a $1 dollar ticket will win $0.97. Of course, most of the time you lose, other times you match a few numbers and win $2, $10, once in a great while $100 or so. But on average you will lose more than you win, at the rate of 3 cents per ticket bought. Buying more tickets just means losing that much more money. But of course, if you figure in state and federal taxes then the rate of return goes down a little bit.
	__________________ GENERATION ∞: The first time you see this, copy it into your sig on any forum and add 1 to the generation. Social experiment.

26th November 2003, 08:29 PM	#3
roger Penultimate Amazing Join Date: May 2002 Location: Mountain View, CA Posts: 11,021	The expected payback does not change the more you pay. And, since lotteries operate at a profit, if you play daily, you will lose (on average).

26th November 2003, 08:35 PM	#4
toddjh Illuminator Join Date: Mar 2002 Location: USA Posts: 3,252	Quote: Originally posted by roger And, since lotteries operate at a profit, if you play daily, you will lose (on average). True. But, like most forms of gambling, not by much. My parents played the state lottery daily for quite a few years. My dad, being somewhat obsessive-compulsive, kept track of it. They very nearly broke even overall, and sometimes they were even ahead. The lottery they played had six numbers, with smaller prizes ($50-500) if you got four right. Jeremy

26th November 2003, 08:52 PM	#5
roger Penultimate Amazing Join Date: May 2002 Location: Mountain View, CA Posts: 11,021	Sure. For example, this site shows that the expected value of a $1 ticket from the CA lottery is $0.97. There are worse ways to spend 3 cents than to buy a lottery ticket, I suppose. Iamme, what the expected value means, is, that on average, a $1 dollar ticket will win $0.97. Of course, most of the time you lose, other times you match a few numbers and win $2, $10, once in a great while $100 or so. But on average you will lose more than you win, at the rate of 3 cents per ticket bought. Buying more tickets just means losing that much more money.

27th November 2003, 04:31 AM	#6
The Don Philosopher Join Date: Nov 2002 Location: Cymru Posts: 8,223	I the UK, only 50% of money goes into the prize fund, the rest goes to good causes and the lottery operator. We do however have Premium Bonds which are a tax free savings vehicle. You buy a bond and it is added to the draw which is conducted every week. The maximum prize is £1million and there are many many smaller prizes. The bond continues to be in each draw until you redeem it (for the price you paid). If you have enough premium bonds (say £10,000 worth) you can expect a tax free return currently running at about 3%. A no-lose gamble (except for erosion of your original stake due to inflation) a rare beast indeed

27th November 2003, 04:16 PM	#10
Kimpatsu Illuminator Join Date: Jul 2001 Location: Tokyo Posts: 3,145	Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless!
	__________________ Tony Kehoe "Most people, I believe, think that you need a God to explain the existence of the world, and especially the existence of life. They are wrong, but our education system is such that many people don't know it. "--Richard Dawkins

27th November 2003, 04:23 PM	#11
toddjh Illuminator Join Date: Mar 2002 Location: USA Posts: 3,252	Quote: Originally posted by Kimpatsu Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless! That's why I don't give recreational gamblers a hard time anymore. My boss came back from a week in Las Vegas $100 down. He had a great time. That's downright cheap for a week of entertainment. If you have some self-control and take steps to limit your potential losses, I don't think it's a bad thing at all. Jeremy

27th November 2003, 04:25 PM	#12
Kimpatsu Illuminator Join Date: Jul 2001 Location: Tokyo Posts: 3,145	Quote: Originally posted by toddjh That's why I don't give recreational gamblers a hard time anymore. My boss came back from a week in Las Vegas $100 down. He had a great time. That's downright cheap for a week of entertainment. If you have some self-control and take steps to limit your potential losses, I don't think it's a bad thing at all. I went to Las Vegas last year. I lost all my stake money--eventually--but I had a blast doing it. The trick to gambling is never gamble more than you can afford to lose. That way it's entertainment. If you start gambling the rent money, you need to seek help. And fast.
	__________________ Tony Kehoe "Most people, I believe, think that you need a God to explain the existence of the world, and especially the existence of life. They are wrong, but our education system is such that many people don't know it. "--Richard Dawkins

27th November 2003, 05:47 PM	#13
rockoon Graduate Poster Join Date: Jun 2003 Posts: 1,106	Quote: Originally posted by Kimpatsu Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless! My advice tho is to use randomly generated numbers each drawing .. how will you feel if you forget to buy the ticket one week and "your" number comes up? Think about it.
rockoon Graduate Poster Join Date: Jun 2003 Posts: 1,106	__________________ Quality never goes begging.

27th November 2003, 05:49 PM	#14
rockoon Graduate Poster Join Date: Jun 2003 Posts: 1,106	Quote: Originally posted by Synchronicity But of course, if you figure in state and federal taxes then the rate of return goes down a little bit. Its actualy quite hard to figure in taxes because you can write off gambling losses from gambling wins (at least in america). In such a situation if you lose money each year (as is expected) then you owe no tax at all. Save those losing tickets.
rockoon Graduate Poster Join Date: Jun 2003 Posts: 1,106	__________________ Quality never goes begging.

27th November 2003, 05:54 PM	#15
WildCat NWO Master Conspirator Join Date: Mar 2003 Location: Albany Park, Chicago Posts: 48,960	The state lottery is such a suckers game that there is a parallel black market, mafia-run lottery here that actually pays better than the official state lottery does, using the same winning numbers of course.

27th November 2003, 05:55 PM	#16
Kimpatsu Illuminator Join Date: Jul 2001 Location: Tokyo Posts: 3,145	Quote: Originally posted by rockoon My advice tho is to use randomly generated numbers each drawing .. how will you feel if you forget to buy the ticket one week and "your" number comes up? I've bought a block of one year's worth of tickets, with the same numbers entered each time. No chance of forgetting that way.
	__________________ Tony Kehoe "Most people, I believe, think that you need a God to explain the existence of the world, and especially the existence of life. They are wrong, but our education system is such that many people don't know it. "--Richard Dawkins

27th November 2003, 08:46 PM	#17
Tony Penultimate Amazing Join Date: Mar 2003 Location: Texas Posts: 13,752	Quote: Originally posted by Kimpatsu I went to Las Vegas last year. I lost all my stake money--eventually--but I had a blast doing it. The trick to gambling is never gamble more than you can afford to lose. That way it's entertainment. If you start gambling the rent money, you need to seek help. And fast. What do you play?
	__________________ It is the mark of an educated mind to be able to entertain a thought without accepting it. - Aristotle Go to Heaven for the climate, Hell for the company. - Mark Twain

27th November 2003, 08:59 PM	#18
Kimpatsu Illuminator Join Date: Jul 2001 Location: Tokyo Posts: 3,145	Quote: Originally posted by Tony What do you play? Blackjack, roulette, and the slot machines. Of them all, roulette is the one with the least chance of winning.
	__________________ Tony Kehoe "Most people, I believe, think that you need a God to explain the existence of the world, and especially the existence of life. They are wrong, but our education system is such that many people don't know it. "--Richard Dawkins

28th November 2003, 03:19 AM	#19
BillyJoe Penultimate Amazing Join Date: Aug 2001 Location: MOOROOLBARK Posts: 12,539	rockoon, Quote: Originally posted by rockoon .. how will you feel if you forget to buy the ticket one week and "your" number comes up? How would you feel if you forgot to set your alarm and you were hit by a meteor? BillyJoe
	__________________ A secular society is one in which no one loses any liberty as a consequence of someone else's religious beliefs. NB Allowing yourself to get led around the nose by a person like Craig is a losing strategy. SH Morality is a social coating around a Darwinian core. JC My joke about freewill: There is no basis for it.

28th November 2003, 04:37 AM	#20
Jaggy Bunnet Philosopher Join Date: May 2003 Location: Sunny Leith Posts: 6,142	Quote: Originally posted by Kimpatsu Without sounding like a total thrill junkie who needs to contact GA, I play the UK lottery every week, using the same numbers every time. Now, as a pure risk/benefit calculation, it's a daft thing to do ("the lottery is a tax on people who are bad at math"), but let's not forget that there's a thrill dimension to this as well; put simply, I get a kick out of checking the lottery numbers each week. What's that worth? In the words of MasterCard--priceless! There is also the utility of cash to consider. For example the difference in lifestyle between having 50 pounds in your pocket or 49 as a result of buying a lottery ticket is relatively low (for most people). The difference in lifestyle if you win the jackpot is massive.

28th November 2003, 08:56 AM	#21
Kimpatsu Illuminator Join Date: Jul 2001 Location: Tokyo Posts: 3,145	Quote: Originally posted by Jaggy Bunnet The difference in lifestyle if you win the jackpot is massive. I'll cross that bridge if I come to it. (My god, what a burden! )
	__________________ Tony Kehoe "Most people, I believe, think that you need a God to explain the existence of the world, and especially the existence of life. They are wrong, but our education system is such that many people don't know it. "--Richard Dawkins

28th November 2003, 02:46 PM	#22
WildCat NWO Master Conspirator Join Date: Mar 2003 Location: Albany Park, Chicago Posts: 48,960	Quote: Originally posted by Jaggy Bunnet For example the difference in lifestyle between having 50 pounds in your pocket or 49 as a result of buying a lottery ticket is relatively low (for most people). Man, those kilts must have some big pockets.

28th November 2003, 04:28 PM	#23
Kimpatsu Illuminator Join Date: Jul 2001 Location: Tokyo Posts: 3,145	Quote: Originally posted by WildCat Man, those kilts must have some big pockets. Not as big as what's under them!
	__________________ Tony Kehoe "Most people, I believe, think that you need a God to explain the existence of the world, and especially the existence of life. They are wrong, but our education system is such that many people don't know it. "--Richard Dawkins

28th November 2003, 07:05 PM	#24
American Illuminator Join Date: Jul 2001 Location: CA Posts: 3,842	You can't win if you don't play. The key is to have a system. If you're losing, you probably didn't stick to it (not enough discipline), or you have to wait and ride it out until your luck turns around. Just don't get too greedy, and know when to quit - you can't lose!

28th November 2003, 08:06 PM	#25
Kimpatsu Illuminator Join Date: Jul 2001 Location: Tokyo Posts: 3,145	Quote: Originally posted by American You can't win if you don't play. The key is to have a system. If you're losing, you probably didn't stick to it (not enough discipline), or you have to wait and ride it out until your luck turns around. Just don't get too greedy, and know when to quit - you can't lose! It's people like you who keep the bookies in business...
	__________________ Tony Kehoe "Most people, I believe, think that you need a God to explain the existence of the world, and especially the existence of life. They are wrong, but our education system is such that many people don't know it. "--Richard Dawkins

28th November 2003, 11:54 PM	#26
69dodge Illuminator Join Date: Nov 2002 Posts: 3,607	Quote: Originally posted by Jaggy Bunnet The difference in lifestyle if you win the jackpot is massive. Quote: Originally posted by Kimpatsu I'll cross that bridge if I come to it. (My god, what a burden! ) Huh? He meant it was a good difference.
69dodge Illuminator Join Date: Nov 2002 Posts: 3,607

29th November 2003, 04:11 AM	#27
BillyJoe Penultimate Amazing Join Date: Aug 2001 Location: MOOROOLBARK Posts: 12,539	Jaggy Bunnett and America.... Read this carefully.... YOU - ARE - NEVER - GOING - TO - WIN - THE - LOTTO.
	__________________ A secular society is one in which no one loses any liberty as a consequence of someone else's religious beliefs. NB Allowing yourself to get led around the nose by a person like Craig is a losing strategy. SH Morality is a social coating around a Darwinian core. JC My joke about freewill: There is no basis for it.

29th November 2003, 09:34 AM	#28
Bjorn Off Topic Join Date: Mar 2002 Location: San Diego, CA Posts: 2,974	Quote: Originally posted by American You can't win if you don't play. The key is to have a system. If you're losing, you probably didn't stick to it (not enough discipline), or you have to wait and ride it out until your luck turns around. Just don't get too greedy, and know when to quit - you can't lose! Please show me a system where I can't lose. I need the money. By the way, if the system guarantees that you can't lose, why do you have to wait 'until your luck turns around'?
	__________________ Little did I know, that all those days that came and went, were my life ....

29th November 2003, 02:48 PM	#29
BobK Muse Join Date: Apr 2003 Location: State of confusion Posts: 913	Quote: Originally posted by roger Sure. For example, this site shows that the expected value of a $1 ticket from the CA lottery is $0.97. There are worse ways to spend 3 cents than to buy a lottery ticket, I suppose. Iamme, what the expected value means, is, that on average, a $1 dollar ticket will win $0.97. Of course, most of the time you lose, other times you match a few numbers and win $2, $10, once in a great while $100 or so. But on average you will lose more than you win, at the rate of 3 cents per ticket bought. Buying more tickets just means losing that much more money. I checked out the site roger posted and as far as I could tell, none of the figures posted on the page are correct. The site doesn't even have the correct number of balls. Ergo, that $0.97 return on a dollar is BS. In the long run, most state lotteries return $0.50 on the dollar or less.
	__________________ A mind is like a parachute. It works best when open.

29th November 2003, 05:41 PM	#30
Rat Not bored. Never bored. Moderator Join Date: May 2003 Location: Leicester, UK Posts: 7,048	I kind of expected a more hostile reaction in this thread. I play the lottery. I'm not ignorant of the odds, and I can comprehend what a million means no better or worse than anyone else. There is no system, at least for the casual entrant. You will almost certainly lose. But then, the small prizes, when they come, are very welcome, while the pound or two in stake here and there are not missed. If you can fantasize about what to do with the winnings without entering, then you have a better imagination than mine. Well done. It is entertainment. Anyone who sees it as anything else is indeed deluded. But I just paid £400 for a television. That will provide no more entertainment per pound than the (considerably less) amount that I spend on the lottery this year. Cheers, Rat.
	__________________ "Man muß den Menschen vor allem nach seinen Lastern beurteilen. Tugenden können vorgetäuscht sein. Laster sind echt." - Klaus Kinski UKLS 1988- Sitting on the fence throwing stones at both sides.

29th November 2003, 06:18 PM	#31
BillyJoe Penultimate Amazing Join Date: Aug 2001 Location: MOOROOLBARK Posts: 12,539	Beats me what entertainment people get out of entering the lotto when they know that they cannot win.
	__________________ A secular society is one in which no one loses any liberty as a consequence of someone else's religious beliefs. NB Allowing yourself to get led around the nose by a person like Craig is a losing strategy. SH Morality is a social coating around a Darwinian core. JC My joke about freewill: There is no basis for it.

29th November 2003, 08:35 PM	#32
Bjorn Off Topic Join Date: Mar 2002 Location: San Diego, CA Posts: 2,974	Quote: Originally posted by BillyJoe *Beats me what entertainment people get out of entering the lotto when they know* that they cannot win.** Ehh ... of course you can win. Someone wins almost every week? I saw an experiment where people were given 100,000 and then asked if they would bet the money in a set-up like this:. Given a fifty percent chance of winning 300,000, would you bet your 100,000? The odds are strongly in favor of betting, but most people declined - 100,000 in the hand is better than even very good odds to win three times as much. It is simply too much to lose. A dollar lost on the lottery won't change your life. But if you win ...
	__________________ Little did I know, that all those days that came and went, were my life ....

29th November 2003, 09:56 PM	#33
BillyJoe Penultimate Amazing Join Date: Aug 2001 Location: MOOROOLBARK Posts: 12,539	Bjorn, my soft pupil.... Quote: Originally posted by Bjorn *Ehh ... of course you can* win. Someone wins almost every week?** Someone wins every week but it is NEVER going to be you. NEVER. Are you learning the lesson my little one? Your hard teacher, BillyJoe
	__________________ A secular society is one in which no one loses any liberty as a consequence of someone else's religious beliefs. NB Allowing yourself to get led around the nose by a person like Craig is a losing strategy. SH Morality is a social coating around a Darwinian core. JC My joke about freewill: There is no basis for it.

29th November 2003, 10:09 PM	#34
American Illuminator Join Date: Jul 2001 Location: CA Posts: 3,842	Quote: Originally posted by BillyJoe Someone wins every week but it is NEVER going to be you. NEVER. Are you learning the lesson my little one? I bet you NEVER thought you'd reach 4000 posts, or that you'd meet your wife or homosexual lover, or that you'd be arguing on the internet about winning the lottery. You need to learn to LIVE, my man... how to let go and ride free. Let me know when you're ready.

30th November 2003, 12:09 AM	#35
BillyJoe Penultimate Amazing Join Date: Aug 2001 Location: MOOROOLBARK Posts: 12,539	American, Behave yourself, please. You need to raise your hand if you wish to speak in class. Now please sit down and listen. Repeat after me.... I AM NEVER GOING TO WIN THE LOTTO. I AM NEVER GOING TO WIN THE LOTTO. BillyJoe.
	__________________ A secular society is one in which no one loses any liberty as a consequence of someone else's religious beliefs. NB Allowing yourself to get led around the nose by a person like Craig is a losing strategy. SH Morality is a social coating around a Darwinian core. JC My joke about freewill: There is no basis for it.