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I just spent 11 dollars on a losing lotto ticket
Posted: 2003-02-19 11:15pm
by Superman
Oh well, I rarely buy them anyway...
Anyone here play?
Re: I just spent 11 dollars on a losing lotto ticket
Posted: 2003-02-19 11:16pm
by Captain tycho
Superman wrote:Oh well, I rarely buy them anyway...
Anyone here play?
I occasionlly buy the 1$ ones.
Posted: 2003-02-19 11:17pm
by Darth Wong
<NELSON>Ha ha!!</NELSON>
Actually, I don't play the lottery too often, although I've always contributed toward the office pool in every company I've worked for. I recognize that the odds are infinitesimal (and no, the "number picking" schemes don't work), but even if it's only a small chance, I would hate to be the poor bastard who shows up to work on Monday surrounded by hooting, laughing nouveau-rich coworkers.
Posted: 2003-02-19 11:17pm
by Darth Garden Gnome
I don't buy them, but my dad occasionally does. Not the $2 scratch offs either, he usually play the Big Game. Especially when the winnings have inflated to something like 20 million. I'd love to be the lucky bastard to win that.
Posted: 2003-02-19 11:19pm
by Frank Hipper
Can't lose if you don't play.
Posted: 2003-02-19 11:19pm
by Darth Yoshi
Supposedly, there's around 400,000 possible lottery combos, so if you buy them all, you're guarenteed to make a profit.
Posted: 2003-02-19 11:20pm
by Superman
Right, I am sure that I would get hit by lightning twice before I win the 10 million. Oh well...
Posted: 2003-02-19 11:25pm
by Darth Wong
Darth Yoshi wrote:Supposedly, there's around 400,000 possible lottery combos, so if you buy them all, you're guarenteed to make a profit.
Actually, you can figure out the odds for a typical number-pick lottery through simple P&C math. Let's say you have to pick 6 numbers from 1 to 49. The total number of combinations would be 49!/(49-6)! (note that the exclamation point is a factorial symbol), and if the sequence doesn't matter (which it usually doesn't), then you divide by 6! to get the total odds (roughly 1 in 14 million in this case).
Posted: 2003-02-19 11:27pm
by Darth Yoshi
True, but I was never any good at statistics, with it being slightly better than my ability to handle conic sections.
Posted: 2003-02-19 11:28pm
by Shinova
Ever heard the story of how a bunch of people got together and bought like all 23 million lotto tickets or something? The prize was something like 27 million so those people made a profit of ~4 million dollars.
Posted: 2003-02-19 11:29pm
by Darth Garden Gnome
Shinova wrote:Ever heard the story of how a bunch of people got together and bought like all 23 million lotto tickets or something? The prize was something like 27 million so those people made a profit of ~4 million dollars.
Sounds like you got a plan...And I just happen to have $1.50 in my pocket. Where do I sign?
Posted: 2003-02-19 11:30pm
by darthdavid
ROFLAMO. Poor bastards. Probably so many of um that they each got about 50 cents profit.
Posted: 2003-02-19 11:31pm
by Alferd Packer
Shinova wrote:Ever heard the story of how a bunch of people got together and bought like all 23 million lotto tickets or something? The prize was something like 27 million so those people made a profit of ~4 million dollars.
I would think they'd lose 9 million overall to taxes.
Posted: 2003-02-19 11:33pm
by Shinova
Alferd Packer wrote:Shinova wrote:Ever heard the story of how a bunch of people got together and bought like all 23 million lotto tickets or something? The prize was something like 27 million so those people made a profit of ~4 million dollars.
I would think they'd lose 9 million overall to taxes.
Well those numbers are from the back of my brain somewhere so it's inaccurate.
Posted: 2003-02-19 11:38pm
by Darth Wong
It's worse than that. What if somebody else has a winning ticket? Then they have to share the winnings with that person, and they end up LOSING money on the deal even without taxes.
Posted: 2003-02-19 11:38pm
by Alferd Packer
Oh, OK. Still, that's not a bad idea, as long as no one else has the winning combination. Imagine THAT conversation after the news broke that yours wasn't the only group with the winning numbers.
EDIT: It seems like great minds think alike, Lord Wong.
Posted: 2003-02-20 02:23am
by TrailerParkJawa
I never play the lottery. Even the office ones. However, because the economy is so bad in California, Im wishing I would win some money.
Posted: 2003-02-20 02:38am
by Sienthal
Hell...One million and I'd be set for life...Set that stuff up a 10% interest bank compounded monthly...Mmm, over 100k a year to spend. Save some, increase next year's earnings,
Posted: 2003-02-20 02:39am
by The Dark
Don't play the lottery, but I lost a dollar to my OT professor betting that a fellow student would show up to class. Should've known better than to bet in favor of the lazy bum
.
Posted: 2003-02-20 02:51am
by XPViking
Don't feel so bad, Superman. There is a new lottery in South Korea called Lotto 645. One fellow recently spend 40 000 000 won on tickets. He basically blew his life savings and, get this, borrowed the rest hoping to win the jackpot.
XPViking
Posted: 2003-02-20 02:56am
by XPViking
Darth Wong,
I realize the odds are stacked against a person but do you think there is any truth to the rumor about imperfections in the lottery machines themselves "favoring" certain numbers over others? That is, one engineer concluded that roulette tables in Vegas can't be balanced perfectly and after a long period of observation placed some bets and walked out with heaps. I believe he was banned from the casinos for life. I'll try to dig up more information and see if this is just another urban legend.
XPViking
Posted: 2003-02-20 03:08am
by Thunderfire
Lottery has one of the lowest win% chance of all games. Roulette has
one of the highest AFAIK.
Posted: 2003-02-20 03:18am
by TrailerParkJawa
Thunderfire wrote:Lottery has one of the lowest win% chance of all games. Roulette has
one of the highest AFAIK.
I thought Blackjack had the highest % of winning? Or are you refering to just games of chance like lotto, slots, etc?
Posted: 2003-02-20 04:43am
by Gandalf
XPViking wrote:Darth Wong,
I realize the odds are stacked against a person but do you think there is any truth to the rumor about imperfections in the lottery machines themselves "favoring" certain numbers over others? That is, one engineer concluded that roulette tables in Vegas can't be balanced perfectly and after a long period of observation placed some bets and walked out with heaps. I believe he was banned from the casinos for life. I'll try to dig up more information and see if this is just another urban legend.
XPViking
If the roulette tables are improperly balanced wouldn't the difference be so small as to be not worth counting?
Posted: 2003-02-20 07:15am
by XaLEv
I guess this is a good place to mention this: A while ago, two years maybe, the Texas lottery was changed so that instead of picking 6 numbers from 50, you would pick 6 numbers from 54. The local news stations were out interviewing people to see what they thought of it. Most thought it would increase their chances of winning the jackpot.