Lottery mindset...why would anyone REGULARLY play?

NrmlCurvSurfr · 05-29-12, 12:07 PM

same reason people play casino games and slots...suckers looking for the big pay day...sad

mynameismud · 05-29-12, 12:10 PM

i play once a week. just for the "what if" factor. you never know when & where lightning is going to strike.

Ghenghis Kahn · 05-29-12, 12:29 PM

cause you don't wanna be that guy...

Lottery's biggest loser: Albany man passed on office pool that won $319M jackpot

http://www.lotterypost.com/news/229659

The group of seven lottery pool players that won last week's $319 million Mega Millions jackpot could have had an eighth member, but one unlucky man made a choice that cost him millions.

dj_destroyer · 05-29-12, 12:31 PM

Originally posted by Microphone

even though I tell them the odds of winning a prize are the same no matter the size of the jackpot.

I'm surprised you haven't been fired for being stupid...

The odds get worst as the jackpot goes up because more people have bought tickets.

cankid · 05-29-12, 12:35 PM

when your buddy hits the lottery your mindset changes some, I dont buy regularly but it does make me play more than i normally would bcause my buddy and 2 childhood friends hit it many yrs ago

NrmlCurvSurfr · 05-29-12, 12:38 PM

Originally posted by dj_destroyer

I'm surprised you haven't been fired for being stupid...

The odds get worst as the jackpot goes up because more people have bought tickets.

the odds of winning are still the same...

PickWinnerAllDay · 05-29-12, 12:38 PM

Originally posted by dj_destroyer

I'm surprised you haven't been fired for being stupid...

The odds get worst as the jackpot goes up because more people have bought tickets.

No... the odds don't get worse of you winning. It rolls over from week to week if no one wins.

You could argue the expected payout could be lower because the more people who play the better chance more people have your numbers.

PickWinnerAllDay · 05-29-12, 12:39 PM

I wish someone intelligent won the lottery for once. Win the lottery, buy a couple of security guards, move, and make new friends. Pretty simple.

dj_destroyer · 05-29-12, 12:43 PM

Originally posted by PickWinnerAllDay

No... the odds don't get worse of you winning. It rolls over from week to week if no one wins.

You could argue the expected payout could be lower because the more people who play the better chance more people have your numbers.

The odds always change. If more tickets are played, there's a bigger chance of you NOT winning. There's also a greater chance of you splitting the winnings. This all factors into the odds of you winning the jackpot.

This is why expected growth is just as important as being +EV

PickWinnerAllDay · 05-29-12, 12:45 PM

Originally posted by dj_destroyer

The odds always change. If more tickets are played, there's a bigger chance of you NOT winning. There's also a greater chance of you splitting the winnings. This all factors into the odds of you winning the jackpot.

This is why expected growth is just as important as being +EV

This isn't true. You have to pick the right number combination regardless of the size of the jackpot. If there are 6 numbers and the jackpot is $1, the chances are the same is if the jackpot is $1,000,000,000.

FuzzyDunlop · 05-29-12, 12:53 PM

Originally posted by Microphone

Anyway, why would anyone want to play on a twice a week basis regularly? Our office hit it big, matching two numbers and the Powerball number for a whopping $7. Wow!, we beat 1 in 706 odds to win $7.

Your numbers are incorrect, you beat the overall odds of 1:31.85 to win anything. You only would have beaten the 706 odds had it been the only prize you are playing for.

Most people that play are suckers as mentioned before. Something like the lowest 15% of earners play the most often, some even seeing it as a 'retirement plan'. But there are people that grind out the math and take shots when odds are right, then there are others so smart that they destroy a game (http://articles.boston.com/2011-07-3...-state-lottery)

mynameismud · 05-29-12, 12:55 PM

the odds of winning the jackpot are 1 in 175,223,510.00 regardless of the size of the jackpot. if you buy 1 ticket for a 10 million jackpot or buy 30 tickets for a 800 million jackpot...odds remain the same. you might have a better chance of splitting the jackpot for the 800 million, but odd always remain the same.

dj_destroyer · 05-29-12, 12:56 PM

Originally posted by PickWinnerAllDay

This isn't true. You have to pick the right number combination regardless of the size of the jackpot. If there are 6 numbers and the jackpot is $1, the chances are the same is if the jackpot is $1,000,000,000.

If there's two tickets, one is yours and the other is not. There are three outcomes, you win, you lose, it carries over.

If there's five million tickets, one is yours and the rest are not. There's a greater chance it does NOT carry over. The odds are still the same of winning, yes, but with more numbers, there's a greater chance it doesn't carry over.

If you don't think so, think of a lottery where EVERY combination was played. You're guaranteed for it not to carry over.

PickWinnerAllDay · 05-29-12, 01:02 PM

Originally posted by dj_destroyer

If there's two tickets, one is yours and the other is not. There are three outcomes, you win, you lose, it carries over.

If there's five million tickets, one is yours and the rest are not. There's a greater chance it does NOT carry over. The odds are still the same of winning, yes, but with more numbers, there's a greater chance it doesn't carry over.

If you don't think so, think of a lottery where EVERY combination was played. You're guaranteed for it not to carry over.

I see what you're saying, but it carrying over isn't a positive outcome for you and your $2 ticket I wouldn't think. There is no guarantee someone plans to play again.

ChalkyDog · 05-29-12, 01:12 PM

The lottery is based on number combinations based on the ~55 number choices per ball.

Based on that, the chances your number combination hits is based on that.

So, that $7 winner mentioned above, they didn't beat out 706 people. They got the correct combination of numbers that could occur once in 706 possibilities, based on the "lottery numbers that came up".

Carry that logic over.

The only way it changes if more people play, is the chance your 1 in however million is shared with another person. That is it. Your odds to hit the "jackpot" are still the same.

jjgold · 05-29-12, 02:13 PM

Lottery big in NJ

Pick 3 and 4 especially

Also scratch offs a major issue for gamblers...addiction running rampant

hels · 05-29-12, 02:37 PM

Ghenghis Kahn · 05-29-12, 02:40 PM

lottery is tax for the poor...

GUMMO77 · 05-29-12, 02:43 PM

Play but don't waste a ton of money on it.

My old roommates aunt won the lottery in MN with her group of school workers.

unluckysob · 05-29-12, 03:12 PM

lottery is a black game---black guys are not sports bettors---they buy pick 3 tickets in georgia every day ---dont care if the odds are 50%against.----STUPID

GUMMO77 · 05-29-12, 03:18 PM

Originally posted by unluckysob

lottery is a black game---black guys are not sports bettors---they buy pick 3 tickets in georgia every day ---dont care if the odds are 50%against.----STUPID

mmmmmmkkkkk

Microphone · 05-29-12, 03:36 PM

Originally posted by FuzzyDunlop

Your numbers are incorrect, you beat the overall odds of 1:31.85 to win anything. You only would have beaten the 706 odds had it been the only prize you are playing for.

Most people that play are suckers as mentioned before. Something like the lowest 15% of earners play the most often, some even seeing it as a 'retirement plan'. But there are people that grind out the math and take shots when odds are right, then there are others so smart that they destroy a game (http://articles.boston.com/2011-07-3...-state-lottery)

If I didn't make it clear, sorry. For that combination I/we got 2+ the PB, the odds are 1 in 706+change.