For those of you who play the lottery...

  • Posted by a hidden member.
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    Aug 29, 2010 4:14 PM GMT
    If there was a game that had a drawing once a month with odds that were similar, but better than both Powerball, and Mega Millions, was guaranteed to one winner, and had a cash payout (no annuity or reduced cash option) of one billion (yes, BILLION) dollars, and a ticket price of $10...would you play?

    If so, how many tickets would you buy per month?

    Please refrain from the lotteries are evil, and the long tirades as to why they should be eliminated posts. I am strictly speaking to those who actually play.

    Thank you in advance...your cooperation is appreciated.
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    Aug 29, 2010 4:35 PM GMT
    If I felt lucky on a particular day, sure. I play the lottery in Florida sometimes - maybe a few times a year. I don't spend any pre set amount - maybe five or ten bucks at a time. I know that buying multiple tickets doesn't increase the odds of winning by any statistically significant amount. Then again, no one has a statistically significant chance of winning anyhow.
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    Aug 29, 2010 4:36 PM GMT
    Hah I play scratch offs a lot and once in a while play Mega Millions and Powerball but I am hardly a lucky guy.Other than the occassional 20 dollar win and 2 100 payouts once its mostly one long losing streak.I do believe some folks are just luckier than others.I cant tell you what I would do for 250,000 right now.If only i coulc click my Ruby Slippers.I wish I wish
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    Aug 29, 2010 5:03 PM GMT
    Yes.
    I once matched every number in the Florida Lottery....but OFF by one digit...if it drew "24" I had 25. If the next number was "18" I had 19 etc.icon_cry.gif

    I used to keep it around to remind myself how rigged the system is to not paying out.icon_wink.gif


    I've heard you actually have better chances of being struck by lightning 10 times in a row than winning the Powerball lottery. icon_rolleyes.gif

    See here:

    Odds of winning the Powerball Jackpot are 1 in 146,107,962

    Odds of being struck by lightning: 576,000 to 1
    576000 X 10 = 5,760,000
  • Posted by a hidden member.
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    Aug 29, 2010 5:04 PM GMT
    If I feel itch my palm hand or feet, I go play no matter. icon_lol.gif
  • Posted by a hidden member.
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    Aug 29, 2010 5:22 PM GMT
    Only 1

    I don't think buying multiple tickets does anything except your giving more money to the person who actually wins or the school boards of the area.
  • Posted by a hidden member.
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    Aug 29, 2010 5:31 PM GMT
    If the odds of winning were 50/50 I would STILL lose... so no.
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    Aug 29, 2010 5:46 PM GMT
    Actually, The odds are a bit higher.

    Powerball 1:195,249,054
    Mega Millions 1:175,711,536

    I will buy tickets for either game when they get above $50m, and I will spend $5 each time. In a drawing held once a month I would probably buy $40 worth.

    As I said, this game is guaranteed to one winner...after taxes you woulld walk away with about $600 million dollars.

    And yes, I am serious about this...I am asking to try to get an idea of viability.
  • Posted by a hidden member.
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    Aug 29, 2010 5:50 PM GMT
    Buying multiple tickets does increase your odds of winning: from 0/n to 1/n, 2/n, etc. But recall that the entire point of state lotteries is to *make* money: the expectation value for any participant is always negative. The only reason to play is that humans suck at thinking about probability, and the risk-reward ratio is extraordinarily high.

    What confuses me is that there are plenty of high-risk, high-reward activities with *better* expectation values than the lottery. The stock market, for example, can deliver triple or nothing in reasonably short time frames. All you need to do is pick a popular company approaching IPO and drop your $50-100 of gambling for the year on that instead.

    The same argument applies to most casino games! Seriously folks, if you like risk that's great, but at least put yourself in a game which delivers better than 40 cents on the dollar!
  • Posted by a hidden member.
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    Aug 29, 2010 6:01 PM GMT
    Again...please refrain from the "why you should not play" posts. I am asking those who play.
  • Posted by a hidden member.
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    Aug 29, 2010 6:05 PM GMT
    Absolutely. Four tickets/month. I am an optimist and realist.
  • Posted by a hidden member.
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    Aug 29, 2010 6:42 PM GMT
    I do play occasionally, but usually just the scratch off tickets. I am by no means addicted or a regular player, but I'd probably play it once in a while--just like I do now with the scratch offs. icon_smile.gif If I feel like I have a little extra money that I can risk losing I play. Just like how some people go to a casino, I could never do that, but I could go for spending MAYBE 15 or 20 dollars in tickets. I'm not a big gambler I guess, but it someone up there wants me to win, it only takes one ticket! icon_smile.gif
  • BlackBeltGuy

    Posts: 2609

    Aug 29, 2010 6:51 PM GMT
    play take 5 or fantasy 5

    you are more likely to win. I like playing the lotto it's fun
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    Aug 29, 2010 7:01 PM GMT
    StudlyScrewRite said Yes.
    I once matched every number in the Florida Lottery....but OFF by one digit...if it drew "24" I had 25. If the next number was "18" I had 19 etc.icon_cry.gif

    I used to keep it around to remind myself how rigged the system is to not paying out.icon_wink.gif


    I've heard you actually have better chances of being struck by lightning 10 times in a row than winning the Powerball lottery. icon_rolleyes.gif

    See here:

    Odds of winning the Powerball Jackpot are 1 in 146,107,962

    Odds of being struck by lightning: 576,000 to 1
    576000 X 10 = 5,760,000


    The math is wrong... When having consecutive occurrences for 1 action it is raised to that power. So it's really 576000^10 which is really 4.78*10^57.

    4.78*10^57 >>> 1.46*10^8

    Your saying the odds of flipping heads 10x in a row is 1:2*10 = 20 in 1 shot. Think about how unrealistic that is
  • upsguy68

    Posts: 270

    Aug 29, 2010 7:07 PM GMT
    I've played the same set of numbers for YEARS. I'll win $2 or $3 about once every 2 monthsicon_biggrin.gif

    Before I had my set numbers, I played alot of numbers. I got 5 out of 6 on the Ga Lottery once and won $1200!! Missed out on $10 millionicon_lol.gif

    At $10 a ticket, I would definitely only play 1 ticket!!
  • HndsmKansan

    Posts: 16311

    Aug 29, 2010 7:12 PM GMT
    I've never bought any kind of a lotto ticket.
  • Posted by a hidden member.
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    Aug 29, 2010 7:23 PM GMT
    If my calculations are correct, you would have to persuade one third of the entire US population to play, just to break even. You can rule out a quarter of the population for starters, as they would be disqualified by age. I suppose you could have a 'world lottery' with a $1billion prize, but I would not want to be the lawyer who had to draw up that contract. Still, we have a weekly 'Euromillions' lottery in Europe, so it is not impossible.

    sportsguy933 said
    The math is wrong... When having consecutive occurrences for 1 action it is raised to that power. So it's really 576000^10 which is really 4.78*10^57.

    4.78*10^57 >>> 1.46*10^8

    Your saying the odds of flipping heads 10x in a row is 1:2*10 = 20 in 1 shot. Think about how unrealistic that is


    Clever and hot. Forget the lottery; you're a winning combination.
  • Posted by a hidden member.
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    Aug 29, 2010 9:10 PM GMT
    id buy 2 on every payday icon_smile.gif
  • awayfromtheci...

    Posts: 154

    Sep 01, 2010 8:20 AM GMT
    once a week...a california combo...which is one mega and one california super...why not? Cheaper than a drink or a night out and great fantasy!
  • Posted by a hidden member.
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    Sep 01, 2010 11:57 AM GMT
    I'd probably buy a ticket every once in a while just for kicks.
  • Posted by a hidden member.
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    Sep 01, 2010 12:44 PM GMT
    I buy a single ticket anytime one of them gets over $100M, sometimes for lesser amounts if it was a shitty day at work.

    For me, the difference between no ticket and one ticket is significant; the difference between one ticket and more tickets is not.
  • Posted by a hidden member.
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    Sep 01, 2010 1:11 PM GMT
    One cannot win the Billion if one does not play.

    As someone who loves to gamble you can count be in for 1 ticket per month.

    (Which would be a nice change of pace and give my lazy ass time to remember to buy a ticket..)