Finally! +ev Lottery

[dapokerbum 0]

Ok, here's something I never understood about lotteries. More accurately, something I never understood about the people who play lotteries:Why do so many people go out and buy tickets when the jackpot gets up to 100 or 200 million (or some other large amount that is rare to reach)? I am specifically talking about people who don't normally play the lottery, but play in these cases.My question is this: Is 30 million, or even 10 or 5 million not enough money to change the lives of these people? Is it not "worth their time" to go out and buy tickets if the jackpot is only 15 million? They wait until it's 175 million, and then they play? I just don't get it.

My thinking on the subject is that those people think that their odds go up as more people buy tickets. This is based on the fact that most of those people are letting the numbers generate themselves, if many people are generating all sorts of random numbers then thier chances of winning are greater than when there are NOT a greater number of people playing. Mind you this is just a theory as I don't play the lottery because I would rather spend $2 on a 40oz of mickeys. At least that does something for me.And because they are greedy. super greedy, like all good americans!

[Potsie P 0]

I work indirectly for the lottery and someone there told me that the quick calculation on a lump-sum payout after taxes is almost exactly 30% of the "estimated jackpot." Factor in another poster's spot-on observation about a possible split, and you are looking at a very -EV situation, even at that payout.That said, if I could, I would, but I can't (play, that is).Good luck and I expect 4.40 stakes from our FCP winner(s).

[chgocubs99 0]

Ok, here's something I never understood about lotteries. More accurately, something I never understood about the people who play lotteries:Why do so many people go out and buy tickets when the jackpot gets up to 100 or 200 million (or some other large amount that is rare to reach)? I am specifically talking about people who don't normally play the lottery, but play in these cases.My question is this: Is 30 million, or even 10 or 5 million not enough money to change the lives of these people? Is it not "worth their time" to go out and buy tickets if the jackpot is only 15 million? They wait until it's 175 million, and then they play? I just don't get it.

For the same reason that people drive more, seek out, talk about, and make a huge deal about going to a gas station that is $3.59 instead of $3.69. Ummmm as gas prices continue to rise, the percentage of difference $.10 makes gets smaller and smaller. Not to mention it's $1.50.People are idiots.

[Potsie P 0]

People are idiots.

I think someone really needs a hug today.Or perhaps I could suggest something more creative.I'm thinking something involving Asian women dressed as meerkats, lots of chocolate body paint and videos about unicorns, but to each his own.

[vonteego3 0]

My thinking on the subject is that those people think that their odds go up as more people buy tickets. This is based on the fact that most of those people are letting the numbers generate themselves, if many people are generating all sorts of random numbers then thier chances of winning are greater than when there are NOT a greater number of people playing. Mind you this is just a theory as I don't play the lottery because I would rather spend $2 on a 40oz of mickeys. At least that does something for me.And because they are greedy. super greedy, like all good americans!

I'm trying.But this doesn't make any sense to me. At all.

[BigLebowski 0]

I'm trying.But this doesn't make any sense to me. At all.

It's simple. Why spread X amount of dollars over shitty jackpots when you can put it towards the bigger jackpots? Your odds obv don't change other than a better chance of splitting it, but when jackpots get huge splitting it 3 or 4 ways is still better than the small jackpots. In our case, we might spend $5 on the big jackpots. How are we supposed to split that among the twice a week drawings when we might spend $25 total all year in lotteries?Oh, and thanks GA lottery players for paying for my education. Appreciate it.

[uncooper 1]

It's simple. Why spread X amount of dollars over shitty jackpots when you can put it towards the bigger jackpots? Your odds obv don't change other than a better chance of splitting it, but when jackpots get huge splitting it 3 or 4 ways is still better than the small jackpots. In our case, we might spend $5 on the big jackpots. How are we supposed to split that among the twice a week drawings when we might spend $25 total all year in lotteries?Oh, and thanks GA lottery players for paying for my education. Appreciate it.

I think it's this:I'm not going to play every lottery, because then I'd be spending $x per year on it, with very little chance of winning, and I don't want to spend that much.But I want to play some, so I'll just play the enormous ones. My .000001% chance of winning isn't that different than the .000004% chance I'd have if i played every day anyway. And if I win, it will be huge.

[kook04 0]

You realize it's going to be hit by multiple people every....single...time.

Wow, nice call:http://www.cnn.com/2008/US/05/17/mega.mill...=rss_topstorieslol

[MJINK3 0]

Wow, nice call:http://www.cnn.com/2008/US/05/17/mega.mill...=rss_topstorieslol

I wonder what else he bought when he was there? Can you imagine if the old lady was pissed at him because he was late for dinner because he was buying a bottle of Captain Morgan?

[BellaireDrew 2]

i bought 10 tickets and only matched one number just one fucking number LFT

[AndyZ28 0]

i bought 10 tickets and only matched one number just one fucking number LFT

BBFIDTS

[grocery_mony 8]

i never really understood this either. I play every week, the same 6 number combination i've been playing for 20+ years (technically it started when i was a kid and my dad asked me for 6 numbers) Anyway, they have been played every week, and honestly, i'd be happy with a 2nd prize (100k or so), truthfully, i'm happy when i win a free ticket.

I buy 6/49 and Super 7 only when the jackpot is in double digits as a way of rationing the money I spend on lotto. I could deffinatly see wanting to play it every draw if you have played the same numbers for 20 years though. That would be life tilt if you missed a draw and they hit.

[CrookedLink 0]

LOL @ u noobs and your jackpots....everyone knows the real money is to be found on those scratch off tickets. I run like god on those....matter fact, I just one a free ticket on one of them today.Brag Post Obv.

[psujohn 0]

My kids like to play the scratch-off things. (gotta start the degeneracy training early) Only problem is sometimes they win but want to keep the ticket rather than turning it in.

[Jam-Fly 8]

My kids like to play the scratch-off things. (gotta start the degeneracy training early) Only problem is sometimes they win but want to keep the ticket rather than turning it in.

lol