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discflicker
discflicker
Joined: Jan 1, 2011
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October 16th, 2018 at 5:11:50 PM permalink
Quote: Wizard

At the end of the day, I think the lottery is a tax on the mathematically challenged. All I can do is try to teach some math and hopefully save at least some people from wasting their money on the sucker bet that the lottery is.


And you are good at it. Have the casinos offered to pay you to just shut-up?
The difference between zero and the smallest possible number? It doesn't matter; once you cross that edge, it might as well be the difference between zero and 1. The difference between infinity and reality? They are mutually exclusive.
gamerfreak
gamerfreak
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MichaelBluejay
October 16th, 2018 at 5:33:38 PM permalink
Quote: Wizard

If somebody will get equal entertainment value between betting $20 on the lottery as $200 on slots, then, yes, you'll lose less money on average on the lottery. However, I'm a math guy. I view the house edge as the cost for playing. I will strive for the most action at the least possible cost wherever I can.


Sorry if this sounds like Iím arguing semantics.

But the cost of playing a negative expectation game is the amount wagered minus the EV of that wager.

It probably takes less than 20 minutes to run more coin through a slot machine than what even a heavy lottery player wagers in a week.

I think itís somewhat misleading to the mathematically challenged general public and Nathan to say that slots are a better deal.

Thatís just my opinion, Iím not trying to ruffle any feathers.
Wizard
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Wizard
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October 16th, 2018 at 5:46:36 PM permalink
Quote: gamerfreak

It probably takes less than 20 minutes to run more coin through a slot machine than what even a heavy lottery player wagers in a week.



I've never been big on factoring time into the equation. I'll mention it casually, but it doesn't figure into my math. Anyway, I think any disagreement we have is semantic in nature. I suggest we drop it.
It's not whether you win or lose; it's whether or not you had a good bet.
Nathan
Nathan
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October 16th, 2018 at 6:38:30 PM permalink
Quote: Wizard

If your point is that slots are a better value than the lottery, then you're absolutely right.



I was actually implying that The Lottery is a better game than Slots. I won $18 on multiple lines on a slot game at .50. I won $100 on .50 on a Lottery game.
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D
Wizard
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Wizard
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October 16th, 2018 at 6:42:22 PM permalink
Quote: Nathan

I was actually implying that The Lottery is a better game than Slots. I won $18 on multiple lines on a slot game at .50. I won $100 on .50 on a Lottery game.



Let's just agree to disagree, shall we?
It's not whether you win or lose; it's whether or not you had a good bet.
100xOdds
100xOdds
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October 16th, 2018 at 9:47:15 PM permalink
no one won.
new jackpot estimated at $868M
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
michael99000
michael99000
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October 16th, 2018 at 10:27:51 PM permalink
Quote: 100xOdds

no one won.
new jackpot estimated at $868M



Come on they canít find an extra 132 mil to toss in ?


1 billion jackpot headlines would be huge
michael99000
michael99000
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October 16th, 2018 at 10:48:37 PM permalink
Quote: 100xOdds

Quote: michael99000

If you are trying to quantify the overall entertainment/enjoyment of a losing $2 ticket, you also have to subtract the disappointment afterwards.
And if you say there is no disappointment because you never really believed you had a chance to win , then the net entertainment value is zero.


can you elaborate cause I cant wrap my head around the net being zero?



You buy a ticket, but you feel you have zero chance of winning. The drawing occurs, you donít win.

Whereís the high and low here? Whereís the enjoyment? Thereís no rush, no joy. Only a loss of $2. A lottery ticket is never ďclose to winningĒ. You either won or lost in a blink.

Take blackjack on the other hand. I can get dealt 20 and Iím happy. Dealer makes 21, Iím upset. Itís a rollercoaster. Highs and lows. Card by card adrenaline rush.
Nathan
Nathan
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October 17th, 2018 at 2:52:04 AM permalink
Quote: michael99000

Come on they canít find an extra 132 mil to toss in ?


1 billion jackpot headlines would be huge



868 millions is still phenomenal. Let's put this into perspective. Vince McMahon has had a successful Wrestling Company for roughly 36 years. Vince is worth roughly 3 and a half billions. So, just for $2, you win almost a quarter of what a CEO of a successful CEO in business for roughly 36 years is worth. A quarter of 3.5 billion is a really huge chunk(To be fair, you actually win more like 500 million after taxes, so more like 15 percent of Vince's net worth, which is still a really huge chunk even after taxes, ;)
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D
AZDuffman
AZDuffman
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October 17th, 2018 at 5:35:06 AM permalink
Quote: 100xOdds

no one won.
new jackpot estimated at $868M



Saw that. Unbelievable. I remember when a few million made people run to buy tickets.
All animals are equal, but some are more equal than others

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