| View previous topic :: View next topic |
| Author |
Message |
notageek
Tux's lil' helper
Joined: 05 Jun 2008
Posts: 78
Location: Bangalore, India
|
 Posted: Sat Mar 31, 2012 5:31 am Post subject: Numbers drawn for record $640m Mega Millions prize |
 |
|
http://www.bbc.co.uk/news/world-us-canada-17553329
Anyone of you believe in lottery?
_________________
What looks like a cat, flies like a bat, brays like a donkey, and plays like a monkey? |
|
| Back to top |
|
 |
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Sat Mar 31, 2012 4:45 pm Post subject: |
|
|
Define "believe."
The money to purchase a ticket doesn't change my life, but the money won (however unlikely) could. I generally don't buy until it is $100m+.
What I found most amazing was that it took $1.5bn in ticket purchases to result in the $640m jackpot.
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
notageek
Tux's lil' helper
Joined: 05 Jun 2008
Posts: 78
Location: Bangalore, India
|
| Posted: Sat Mar 31, 2012 5:40 pm Post subject: |
|
|
Simple there are expense overheads.
I've never won even a scratch card.
_________________
What looks like a cat, flies like a bat, brays like a donkey, and plays like a monkey? |
|
| Back to top |
|
|
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Sat Mar 31, 2012 6:07 pm Post subject: |
|
|
I've never bought a scratch card. I've won $1-3 here and there, but nothing worth noticing (except the infrequency). From what I hear, I'd be much better off mastering blackjack. But that's a huge time invenstment.
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
notageek
Tux's lil' helper
Joined: 05 Jun 2008
Posts: 78
Location: Bangalore, India
|
| Posted: Sat Mar 31, 2012 6:16 pm Post subject: |
|
|
I have a strong dislike for lottery. I have my reasons.
_________________
What looks like a cat, flies like a bat, brays like a donkey, and plays like a monkey? |
|
| Back to top |
|
|
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Sat Mar 31, 2012 6:50 pm Post subject: |
|
|
As long as it doesn't negatively impact your life, nothing wrong with irrational behaviors :P
You weren't on your way to buy a lottery ticket when suddenly, from out of nowhere, a cow appeared? 'Cause that would explain it.
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
notageek
Tux's lil' helper
Joined: 05 Jun 2008
Posts: 78
Location: Bangalore, India
|
| Posted: Sat Mar 31, 2012 7:00 pm Post subject: |
|
|
Funny you mention cows. Here I am, half-way across India, in a different city, and yet, there are cows. RIGHT IN THE MIDDLE OF THE ROAD!!
The only reason I'm not hitting them is because I can't find a stretch of road where I can open the throttle of my bike.
This is nothing to do with why I dislike lottery.
_________________
What looks like a cat, flies like a bat, brays like a donkey, and plays like a monkey? |
|
| Back to top |
|
|
Naib
Advocate
Joined: 21 May 2004
Posts: 3927
Location: UK - Birmingham
|
| Posted: Sat Mar 31, 2012 7:06 pm Post subject: |
|
|
don't forget all the other prizes for different number of ball combinations
still they take a hefty profit
_________________
A free press is the unsleeping guardian of every other right that free men prize; it is the most dangerous foe of tyranny. Where men have the habit of liberty, the Press will continue to be the vigilant guardian of the rights of the ordinary citizen. |
|
| Back to top |
|
|
big dave
n00b
Joined: 03 Jul 2009
Posts: 0
Location: land of first world problems
|
| Posted: Sat Mar 31, 2012 7:14 pm Post subject: |
|
|
| lottery is a stupid tax. the expected value is terrible. |
|
| Back to top |
|
|
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Sat Mar 31, 2012 7:41 pm Post subject: |
|
|
| Naib wrote: | don't forget all the other prizes for different number of ball combinations
still they take a hefty profit |
There's no real deception though. Even the stupidest people understand they aren't likely to win.
| big dave wrote: | | lottery is a stupid tax. the expected value is terrible. |
All taxes are stupid ;)
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
sugar
Guru
Joined: 07 Aug 2004
Posts: 579
Location: Morrinsville, New Zealand
|
| Posted: Sun Apr 01, 2012 7:48 am Post subject: |
|
|
| Naib wrote: | don't forget all the other prizes for different number of ball combinations
still they take a hefty profit |
So, who takes the profit?
Here, a government commission distributes the profit to various charities etc. I don't even think it even is counted towards government revenue either, as it's a separate entity.
Some situation?
_________________
Jesus Could Be Their Candidate and the Republicans Would Still Lose |
|
| Back to top |
|
|
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Mon Apr 02, 2012 1:11 am Post subject: |
|
|
It varies. Some state lotteries send money to school, health care programs, etc. I'm sure there are others. I'm not sure how it works with multi-state lotteries.
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
Clete2
Guru
Joined: 09 Aug 2003
Posts: 527
Location: Bloomington, Illinois
|
| Posted: Wed Apr 04, 2012 3:35 am Post subject: |
|
|
People at my workplace pooled for tickets. I don't know if they actually bought any but it is definitely a waste of money.
I figure my chances at roulette or any other gambling game are much higher than they are with the lottery.
That being said, I wouldn't even gamble with my money. It's a waste of time, energy, and money. 
_________________
My Blog |
|
| Back to top |
|
|
juniper
l33t
Joined: 22 Oct 2004
Posts: 756
Location: EU
|
| Posted: Wed Apr 04, 2012 2:22 pm Post subject: |
|
|
| pjp wrote: | Define "believe."
The money to purchase a ticket doesn't change my life, but the money won (however unlikely) could. I generally don't buy until it is $100m+.
What I found most amazing was that it took $1.5bn in ticket purchases to result in the $640m jackpot. |
that's not amazing. that's precisely how the system is designed to work. |
|
| Back to top |
|
|
juniper
l33t
Joined: 22 Oct 2004
Posts: 756
Location: EU
|
| Posted: Wed Apr 04, 2012 2:24 pm Post subject: |
|
|
| Clete2 wrote: | People at my workplace pooled for tickets. I don't know if they actually bought any but it is definitely a waste of money.
I figure my chances at roulette or any other gambling game are much higher than they are with the lottery.
That being said, I wouldn't even gamble with my money. It's a waste of time, energy, and money. |
that depends on the game on what you want to get out of it.
if your aim is to win, then there are very few venues where the odds aren't stacked against you. so, you should likely abstain, if your goal is to win money.
on the other hand, if you are going for entertainment and thrill, that is different.
as far as I can tell, there is no good basis for buy a lottery ticket. The thrill factor is really low; you have a list of numbers and if the improbable case occurs, you are golden. It's not like playing cards in a casino (where the thrill factor is pretty clear). Thus, you are, in almost certain terms, throwing away your money. |
|
| Back to top |
|
|
rtomek
Apprentice
Joined: 05 Jan 2007
Posts: 210
Location: Chicago
|
| Posted: Wed Apr 04, 2012 3:29 pm Post subject: |
|
|
| pjp wrote: | Define "believe."
The money to purchase a ticket doesn't change my life, but the money won (however unlikely) could. I generally don't buy until it is $100m+.
What I found most amazing was that it took $1.5bn in ticket purchases to result in the $640m jackpot. |
After taxes, they say each winner gets $105 million. That's barely above your cutoff. Also, that value is based on a 26-year annuity with a current valuation of $76 million. Therefore, you should not have purchased the ticket for this lottery. Isn't it amazing how fast $640 million turns into $75 million? |
|
| Back to top |
|
|
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Wed Apr 04, 2012 10:50 pm Post subject: |
|
|
| Clete2 wrote: | People at my workplace pooled for tickets. I don't know if they actually bought any but it is definitely a waste of money.
I figure my chances at roulette or any other gambling game are much higher than they are with the lottery.
That being said, I wouldn't even gamble with my money. It's a waste of time, energy, and money. :lol: |
The biggest problem with games of chance (casinos, etc.) is the time investment. Lot's of things are a waste of money. The computer upgrade you didn't need, the cigarettes, Starbucks, etc. A handful of dollars for lottery tickets is a waste of money, but the potential is much greater (IMO) than those other items. Far lest wasteful too.
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
sugar
Guru
Joined: 07 Aug 2004
Posts: 579
Location: Morrinsville, New Zealand
|
| Posted: Wed Apr 04, 2012 11:04 pm Post subject: |
|
|
| pjp wrote: | | Clete2 wrote: | People at my workplace pooled for tickets. I don't know if they actually bought any but it is definitely a waste of money.
I figure my chances at roulette or any other gambling game are much higher than they are with the lottery.
That being said, I wouldn't even gamble with my money. It's a waste of time, energy, and money. |
The biggest problem with games of chance (casinos, etc.) is the time investment. Lot's of things are a waste of money. The computer upgrade you didn't need, the cigarettes, Starbucks, etc. A handful of dollars for lottery tickets is a waste of money, but the potential is much greater (IMO) than those other items. Far lest wasteful too. |
++
The money I spent going to go see the Hunger games could have been better spent going to a casino, getting a meal and spending a little time at the blackjack tables. At least there's the potential that I might get something out of it, and I'll walk out feeling like I was entertained for a couple of hours.
_________________
Jesus Could Be Their Candidate and the Republicans Would Still Lose |
|
| Back to top |
|
|
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Wed Apr 04, 2012 11:53 pm Post subject: |
|
|
lol
And if you "know what you're doing," you can actually make money at blackjack. Or at least so I'm told by people who have. Foremost they've done it for fun, but they also come out ahead.
Seems like a TON of work with not that much payoff. Yes, it can be in the thousands, but that's still vacation time spent, and a somewhat significant amount of money risked initially. Even if the risk is considered minimal by someone who knows what they're doing, the time is still huge.
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
sugar
Guru
Joined: 07 Aug 2004
Posts: 579
Location: Morrinsville, New Zealand
|
| Posted: Thu Apr 05, 2012 12:04 am Post subject: |
|
|
| pjp wrote: | lol
And if you "know what you're doing," you can actually make money at blackjack. Or at least so I'm told by people who have. Foremost they've done it for fun, but they also come out ahead.
Seems like a TON of work with not that much payoff. Yes, it can be in the thousands, but that's still vacation time spent, and a somewhat significant amount of money risked initially. Even if the risk is considered minimal by someone who knows what they're doing, the time is still huge. |
you can only turn the odds if you can count, and you can only realistically count if they don't use card shuffling machines, and they don't cut the deck too far in.
You'll still lose, but you've got better odds than anything else.
_________________
Jesus Could Be Their Candidate and the Republicans Would Still Lose |
|
| Back to top |
|
|
pjp
Administrator
Joined: 16 Apr 2002
Posts: 16029
Location: Colorado
|
| Posted: Thu Apr 05, 2012 12:30 am Post subject: |
|
|
I don't know enough about it, but I do know of a few people who have come out thousands ahead, and are ahead overall.
_________________
lolgov. 'cause where we're going, you don't have civil liberties.
In Loving Memory
1787 - 2008 |
|
| Back to top |
|
|
|
Off the Wall
