HB of CJ 1,263 Posted July 6, 2014 Report Share Posted July 6, 2014 I mean I buy a $2.00 quick pick ticket twice a week. I should have won the big one by now. What am I doing wrong? Somebody eventually wins...why not ME? HB Quote Link to post Share on other sites
garnaz 215 Posted July 6, 2014 Report Share Posted July 6, 2014 Not illegal alien? Not old enough? (Elderly on death bed) Don't live in double wide? Not liberal? Probably others that I'm not thinking of. Or you're just looking too forward to be on (How the Lottery changed my life). LOL I've been wondering same thing. My wife says all her luck was used up surviving Breast cancer. 1 Quote Link to post Share on other sites
Matthew Hopkins 1,065 Posted July 7, 2014 Report Share Posted July 7, 2014 the only winner in lotteries is the state. I call lotteries the "stupid people tax", and there are a lot of stupid people out there waiting in line to give the state money they don't have to. 5 Quote Link to post Share on other sites
Vance665 225 Posted July 7, 2014 Report Share Posted July 7, 2014 Someones gotta win. Quote Link to post Share on other sites
DrThunder88 912 Posted July 7, 2014 Report Share Posted July 7, 2014 Odds are, what, 1 in 175 million? Once you've gotten your 175 millionth ticket, you'll be statistically due! If you play one ticket every week for twenty years, you'll be one six millionth of the way there. There's a way to calculate the expected payout of a single ticket. Basically, multiply your chances of winning (1.75x10-8) by the expected jackpot and subtract the product of your chances of losing (1-1.75x10-8) by the money you paid ($2). For each ticket you play on a $100 million jackpot, the expected value of your ticket is a loss of 25 cents. In order for the ticket to have an expected value of $0, in fact, the jackpot would have to be over $114 million. Quote Link to post Share on other sites
Maxwelhse 1,285 Posted July 7, 2014 Report Share Posted July 7, 2014 (edited) Odds are, what, 1 in 175 million? Once you've gotten your 175 millionth ticket, you'll be statistically due! If you play one ticket every week for twenty years, you'll be one six millionth of the way there. There's a way to calculate the expected payout of a single ticket. Basically, multiply your chances of winning (1.75x10-8) by the expected jackpot and subtract the product of your chances of losing (1-1.75x10-8) by the money you paid ($2). For each ticket you play on a $100 million jackpot, the expected value of your ticket is a loss of 25 cents. In order for the ticket to have an expected value of $0, in fact, the jackpot would have to be over $114 million. And that's just the straight up math and NOT a real statistical model. Matthew got it right... Just like a speeding ticket is a voluntary tax on lateness or fun. I've bought both kinds of tickets before and they both left my wallet lighter... Edited July 7, 2014 by Maxwelhse 1 Quote Link to post Share on other sites
jerry52 893 Posted July 7, 2014 Report Share Posted July 7, 2014 (edited) Who is John Galt? Edited July 8, 2014 by jerry52 Quote Link to post Share on other sites
sccritterkiller 473 Posted July 7, 2014 Report Share Posted July 7, 2014 (edited) And that's just the straight up math and NOT a real statistical model. Matthew got it right... Just like a speeding ticket is a voluntary tax on lateness or fun. I've bought both kinds of tickets before and they both left my wallet lighter... I always considered speeding tickets "high speed driving awards"....LOL Edited July 7, 2014 by sccritterkiller 2 Quote Link to post Share on other sites
james lambert 3,059 Posted July 7, 2014 Report Share Posted July 7, 2014 Gambling can be a VERY high tax on the low IQ person. In this state people have lost homes property ...every thing at the casinos. If you bet the farm...you lose the farm. Every time I am in Vegas (matches, shot show ect) I look at the Billions of dollars it took to build all those hotel casinos. They didnt do it by people winning. A couple bucks for a very slight chance of millions....once in a while isnt even a gamble, its a sure thing!!! You gonna lose 3 Quote Link to post Share on other sites
yakdung 2,926 Posted July 7, 2014 Report Share Posted July 7, 2014 Lotteries were invented for the mathematically challenged. 1 Quote Link to post Share on other sites
storm6490 2,768 Posted July 7, 2014 Report Share Posted July 7, 2014 Can't win if you don't play. You all get a new AK if I win one day. Two bucks is a fair investment considering the return. I play Montana lottery every time I fill up my vehicle which is about once a month. Always go for the upgraded powerball. You may not win millions with the state lottery but if you play your entire adult life, there is a good chance that one day you will at least get your investment out of it. At least this is how I try to explain it to my wife who is an expert with numbers. Lotteries were invented for the mathematically challenged. And then you get into theory of math and find that fate is a very complex formula that may develop in your reality. 1 Quote Link to post Share on other sites
Ronin38 2,117 Posted July 7, 2014 Report Share Posted July 7, 2014 You MUST spend at least $20 per week to have a realistic chance at winning the BIG ONE!! GO FOR IT!!! Or... spend $20 per week on booze. You won't be a billionaire, but you won't mind so much! 1 Quote Link to post Share on other sites
james lambert 3,059 Posted July 7, 2014 Report Share Posted July 7, 2014 Can't win if you don't play. You all get a new AK if I win one day. Two bucks is a fair investment considering the return. I play Montana lottery every time I fill up my vehicle which is about once a month. Always go for the upgraded powerball. You may not win millions with the state lottery but if you play your entire adult life, there is a good chance that one day you will at least get your investment out of it. At least this is how I try to explain it to my wife who is an expert with numbers. Lotteries were invented for the mathematically challenged. And then you get into theory of math and find that fate is a very complex formula that may develop in your reality. You live in Montana.....and buy gas once a month Dont get out much?? My friends in trout creek live blocks from the river The buy more than that just to go fishing Quote Link to post Share on other sites
sccritterkiller 473 Posted July 7, 2014 Report Share Posted July 7, 2014 I only play when it gets over $150 mil....At $150 mil if you take the one time payout an then pay your taxes you might walk away with 25-30 mil....If I win I want to be able to actually quit working...I still about 30 years from retirement so I think I could stretch 30 mil over 30 years and still have something left over for retirement years...IMO nothing would suck more to win the lottery and have to go to work the next day...lol Quote Link to post Share on other sites
Maxwelhse 1,285 Posted July 7, 2014 Report Share Posted July 7, 2014 IMO nothing would suck more to win the lottery and have to go to work the next day...lol Hummm... As one of my old professors used to say, "We screwed up bad, guys. We could have all been braumeisters." Quote Link to post Share on other sites
Matthew Hopkins 1,065 Posted July 7, 2014 Report Share Posted July 7, 2014 (edited) Two bucks is a fair investment considering the return. calling the lottery a "investment" is like calling a prostitute a virgin. Edited July 7, 2014 by Matthew Hopkins Quote Link to post Share on other sites
G O B 3,516 Posted July 7, 2014 Report Share Posted July 7, 2014 You cannot win. It's MY turn! Quote Link to post Share on other sites
james lambert 3,059 Posted July 7, 2014 Report Share Posted July 7, 2014 I like to play craps, I win some I lose some , but I never think Im going to hit it big or get rich. If im winning, I keep playing. If I start loosing I stop betting Im up on them by thousands of dollars, but I know I could give it all back . You have to know when to quit Quote Link to post Share on other sites
poolingmyignorance 2,191 Posted July 8, 2014 Report Share Posted July 8, 2014 the only winner in lotteries is the state. I call lotteries the "stupid people tax", and there are a lot of stupid people out there waiting in line to give the state money they don't have to. ^THIS!!!!^ Quote Link to post Share on other sites
csspecs 1,987 Posted July 8, 2014 Report Share Posted July 8, 2014 I play my own lottery. I put a little money in a metal barrel every week. At 20 years I cut it open and collect my winnings. Last week I won $500 and I owe the state nothing in tax.. At 6 I was saving pennies, so it was a little thin this time. When I'm 46 I bet I'm going to hit the freaking jack pot. How about those tickets? PS I have no luck for winning things, so a piggy bank is as close as I get to winning money. 2 Quote Link to post Share on other sites
DogMan 2,343 Posted July 8, 2014 Report Share Posted July 8, 2014 Take the money you spend on lottery tickets and put it in a jar instead. After a couple of years you'll be able to see all the money you would have blown, and instead you can go buy some ammo. 2 Quote Link to post Share on other sites
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