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Lottery is a sucker's game

Tonight the Power Ball draw is worth 1.9 billion.

Did you buy any tickets?

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LovinLarge 8 Nov 7
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1

It's for folks who can't do math. 🤭

Emme Level 7 Dec 2, 2022
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It is, if you think there's some formula or method that helps you win; if you don't understand what "random numbers" means; and if you can't afford to lose the cost of the ticket.

I remember having co-workers who spent the last 2 hours of the shift debating what numbers were "due" in the Daily 3 and Pick 4. "383, those numbers haven't come up in 2 months, it's due!" No amount of explaining (from a college math minor) that every number in that combination has the same 1 out of 10 chance to be drawn, and every combination of 3 numbers has the exact same 1/1000 chance to come up, swayed them from the belief that there is some kind of order to the random chances. These folks spent $40 to $50 a week (that's $200-$250 a year) in 1999 money, when $40 meant something. And none of them ever, to my knowledge, won more than a few dollars back.

That said, did I risk a $20 flutter on the chance of winning $2 billion? Why, yes. Yes, I did.

By "sucker's game", I just meant that the odds would always be against you.

The winning ticket was a single ticket. I bought 26 tickets because there are 26 potential power balls. I ended up with some duplicates because I did quick picks but I ended having pretty good coverage. In the end, all I got was 2 powerballs, each worth $4 on my $52 investment.

I was glad someone won so that I didn't feel compelled to buy any more tickets. Sure was fun dreaming about not having to worry about money for a couple of days though. Until the next largest jackpot in American history!

@LovinLarge We're making the same point, I think. It's a sucker bet if you think you have more than a 1 in a billion chance of winning the big one. All gambling but especially the lottery is primarily entertainment; as you say, the fantasy of what might happen if you won. But only a fool goes in expecting to win.

@Paul4747 Yes, certainly Paul. For the most part, one is purchasing a short lived fantasy, but I did not have the foresight to think of it that way until we shared these words. That might just be enough to alleviate my apparent need to purchase more tickets so thanks for your input!

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I believe that the first lottery in the UK was held at the west door of St. Paul's Cathedral in 1654 to raise money for the king's army. Lotteries were reintroduced in the 18th century and later banned because they were making the poor even more destitute.

I heard that the odds against winning in The National Lottery in the UK are 14 million to 1. I think that the odds against winning the lottery are very much higher as in 59X58X57...or 59 factorial with the final number being divided by 6 it is astronomical.

All games can be divided into three categories. 1. Games of Chance. 2. Games of Strategy. 3. Games that combine elements of both..
The lottery is purely a game of chance.

Interesting, thank you. They have finally drawn and released the winning numbers and I have an $8 return on my $52 investment. They have not yet said if anyone won the big prize. The odds of winning on this draw was supposed to be 1 in 25.

I am far more worthy of being a billionaire that Elon Musk but I would even settle for being a millionaire. Regrettably, for now I will have to settle for being a thousandaire which I won't complain about because I read this week that most Americans do not have $1000 in savings.

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Update: Last night's Power Ball was worth 1.9 Billion, tge largest in US history.. The draw was not performed, allegedly for technical difficulties. The next draw is Wednesday, the pot being cumulative without a winner.

I smell a rat. First off, I think their duty to each ticket holder has been breached for failing to make the draw. This is enough money for someone to intervene to disrupt the drawing in their favor. In my view, the whole lottery should be shut down and they should have to start refunding ticket money effective immediately with all excess donated to the federal government without a tax receipt.

The sign that tells how much the draw is worth at the store where I bought my tickets doesn't even go into the billions. Isn't it just a little too coincidental that the technical difficulty happened on this particular draw? I'll never buy another lottery ticket, just like I say every time I lose

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I do not know if it is the same as the UK national lottery, but there is an argument which says that the best bet is only to place bets on none rollovers, since the extra bets placed on rollovers divide the winnings up so much, that it is probable you will actually win less on a rollover.

Interesting. Is a rollover where the money is added to the next draw's prize money of no one wins it?

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