Lottery tickets?!

Discussion in 'Business & Economics' started by parmalee, Dec 12, 2019.

  1. DaveC426913 Valued Senior Member

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    14,191
    Faulty analogy.

    You're counting oceans. In a lottery, you're counting the buckets.
     
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  3. sideshowbob Sorry, wrong number. Valued Senior Member

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    It's the same thing. The increase is too tiny to be significant.
     
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  5. gmilam Valued Senior Member

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    My "ex" once told me that she spent 10 dollars on Lotto. One of those cards paid off 5 dollars. As far as I was concerned, she was down 5 dollars. In her "logic", she had won 5!

    She's the same lady who had a "system" for picking lottery numbers based on which numbers were "hot" and which ones were "due". I asked her why she didn't just bet on 1,2,3,4,5. Her response... "Do you know what the odds are of those numbers being picked?" (Yes, I do. The exact same as any other pre-selected set of 5 numbers.)
     
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  7. Gawdzilla Sama Valued Senior Member

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    Well, for one, I'm too old to get to the casinos (we have 3-4 here in St. Loser). AND I know players bleed to death slowly there. But buy a lottery ticket when I stop for gas, that's no big deal.
     
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  8. Gawdzilla Sama Valued Senior Member

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    But it doesn't result in a significant chance of winning the jackpot.

    "Buying more lottery tickets does increase your chances of winning the lottery. In Powerball, there are 292,201,338 possible tickets. Buy one ticket, and you have a one in 292,201,338 chance of winning the jackpot. Buy two tickets, you have a two in 292,201,338 chance.Mar 21, 2019"
    https://www.businessinsider.com/fox-news-lottery-tickets-2016-1
     
  9. Michael 345 New year. PRESENT is 70 years old Valued Senior Member

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    Lotteries are almost the equivalent of getting a large amount of money for almost nothing

    Unfortunately most of that almost nothing you spend for the ticket goes elsewhere and if you keep buying, almost nothing becomes a tidy sum

    The people who run the lotteries are the geniuses

    Use other people's money as a prize = no outlay of your own

    Take a cut for selling dreams

    Please Register or Log in to view the hidden image!

     
  10. Gawdzilla Sama Valued Senior Member

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    Part of the income here goes to the school system. I'm good with that. Otherwise it's just discretionary funds. I have all the toys I'll ever need. My collection of scotch is impressive.
     

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