Is there anyone here that hasn't bought a ticket......
- Thread starter Morris
- Start date
Can you imagine........
How long will the lines be and how many paychecks will be gone....
- Feb 26, 2001
- 13,593
- 164
- 63
I haven't bought one in maybe 10 years. I might give it a go tonight though. $1. Or is $2 the minimum?
I have $100 worth..........won $2500 a few years back.
ps.......heard on the radio today that all combinations have been purchased so we should have a winner tonight.
ps.......heard on the radio today that all combinations have been purchased so we should have a winner tonight.
perhaps the answer is here?
perhaps the answer is here?
Now that the Mega Millions Jackpot has just hit a record $640 million, people, mostly those in the lower and middle classes, are coming out in droves and buying lottery tickets with hopes of striking it rich. After all, with $640 million one can even afford a few shares of Apple stock. Naturally, we wish the lucky winner all the (non-diluted) best. There is, however, a small problem here when one steps back from the Sino Forest trees. As ConvergEx' Nicholas Colas explains, "Lotteries essentially target and encourage lower-income individuals into a cycle that directly prevents them from improving their financial status and leverages their desire to escape poverty. Yes, that?s a bit harsh, and yes, people have the right to make their own decisions. Even bad ones? Also, many people tend to significantly overestimate the odds of winning because we tend to assess the likelihood of an event occurring based on how frequently we hear about it happening. The technical name for this is the Availability Heuristic, which means the more we hear about big winners in the press, the less uncommon a big payday begins to seem." Call it that, or call it what one wishes, the end result is that the lottery is nothing but society's perfectly efficient way of, to use a term from the vernacular, keeping the poor man down while dangling hopes and dreams of escaping into the world of the loathsome and oh so very detested "1% ers". Alas, the probability of the latter happening to "you" is virtually non-existant.
Full explanation from Nick Colas on how and why Americans are lining up in lines around the block to... pay more taxes.
What Seems To Be Is Always Better than Nothing
Summary: American adults spent an average of $251 on lottery tickets last year. With a return of 53 cents on the dollar, this means the average person threw away $118 on unsuccessful lotto tickets ? not a great investment. So why are we spending so much? Well, lotteries are a fun, cheap opportunity to daydream about the possibility of becoming an overnight millionaire, but on the flip side people tend to overestimate the odds of winning.
Read entire article if you wish...http://www.zerohedge.com/news/why-mega-millions-jackpot-nothing-another-tax-americas-poor
perhaps the answer is here?
Now that the Mega Millions Jackpot has just hit a record $640 million, people, mostly those in the lower and middle classes, are coming out in droves and buying lottery tickets with hopes of striking it rich. After all, with $640 million one can even afford a few shares of Apple stock. Naturally, we wish the lucky winner all the (non-diluted) best. There is, however, a small problem here when one steps back from the Sino Forest trees. As ConvergEx' Nicholas Colas explains, "Lotteries essentially target and encourage lower-income individuals into a cycle that directly prevents them from improving their financial status and leverages their desire to escape poverty. Yes, that?s a bit harsh, and yes, people have the right to make their own decisions. Even bad ones? Also, many people tend to significantly overestimate the odds of winning because we tend to assess the likelihood of an event occurring based on how frequently we hear about it happening. The technical name for this is the Availability Heuristic, which means the more we hear about big winners in the press, the less uncommon a big payday begins to seem." Call it that, or call it what one wishes, the end result is that the lottery is nothing but society's perfectly efficient way of, to use a term from the vernacular, keeping the poor man down while dangling hopes and dreams of escaping into the world of the loathsome and oh so very detested "1% ers". Alas, the probability of the latter happening to "you" is virtually non-existant.
Full explanation from Nick Colas on how and why Americans are lining up in lines around the block to... pay more taxes.
What Seems To Be Is Always Better than Nothing
Summary: American adults spent an average of $251 on lottery tickets last year. With a return of 53 cents on the dollar, this means the average person threw away $118 on unsuccessful lotto tickets ? not a great investment. So why are we spending so much? Well, lotteries are a fun, cheap opportunity to daydream about the possibility of becoming an overnight millionaire, but on the flip side people tend to overestimate the odds of winning.
Read entire article if you wish...http://www.zerohedge.com/news/why-mega-millions-jackpot-nothing-another-tax-americas-poor
I actually won it all by myself, no tie or tie breaker and they didn't ask for it back either.
Thanks for your help with the economy in the U.S. Canadian money spends here as well, no matter how frivolously spent. :toast:
- Feb 26, 2001
- 13,593
- 164
- 63
I bought my first lottery ticket in about 10 years. $1 worth. Hope I get more than 53 cents back. :0074
It's actually stupid not to buy one with these odds.
Just sayin'
:0003
It's +EV :142smilie
