100xOdds
100xOdds
Joined: Feb 5, 2012
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Mission146
May 13th, 2021 at 4:59:03 AM permalink
Quote: DRich

Quote: 100xOdds



(now if i did goto tryouts and became a pitcher for the Yankees, i'd imagine i'd get another shot at a 3some with twins sometime down the line)

yes, i'm kidding



Yes, you would probably get 6 or more opportunities with Twins each year, Minnesota Twins that is.

who?
never heard of them
:)
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
TomG
TomG
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Mission146
May 13th, 2021 at 5:51:00 AM permalink
Quote: billryan

How do you put a price on a dream? If grandma drops a few bucks and spends the days before the drawing dreaming of getting her family out of poverty, is that such a bad thing?



I've never understood this idea that a lottery ticket is buying a dream. I can dream about what I would do with $1 million (or $1 billion) without every spending a penny on a lottery ticket.

There are ways to take a shot at life changing payouts that have better odds. Put $1 on an inside number on roulette and keep letting it ride. Seems like it should have a lower house edge on a shot at $1 million than a lottery ticket. Obviously table limits make that not much more than a theory. Then why not bets that are +EV and give the player a shot at a huge payout? In Nevada, there are some statewide progressive slot machines that often reach +$1 million jackpots that sometimes have other stuff that give them a player advantage. Or a 10- or 15-team parlay.
Joeman
Joeman
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Mission146
May 13th, 2021 at 8:57:27 AM permalink
Quote: TomG

I've never understood this idea that a lottery ticket is buying a dream. I can dream about what I would do with $1 million (or $1 billion) without every spending a penny on a lottery ticket.

It is more fulfilling to dream about something that might happen (if you buy a ticket) than something that will never happen (if you don't buy a ticket). Even as "might" approaches "never!"

Quote:

There are ways to take a shot at life changing payouts that have better odds. Put $1 on an inside number on roulette and keep letting it ride. Seems like it should have a lower house edge on a shot at $1 million than a lottery ticket. Obviously table limits make that not much more than a theory. Then why not bets that are +EV and give the player a shot at a huge payout? In Nevada, there are some statewide progressive slot machines that often reach +$1 million jackpots that sometimes have other stuff that give them a player advantage. Or a 10- or 15-team parlay.

I agree with what you are saying about wanting to have better odds to win a life-changing amount of money. However, for me and many, if not most people, these options you listed aren't readily available. I can take a 2 minute walk from my office and obtain a lottery ticket. It's a 4 hour drive to my nearest casino; 8 hours if I want a roulette table!

If you factor in travel costs, the lottery odds will be better than the options above for a great many people.

That said, I can't remember the last time I bought a lottery ticket. I probably threw $2 into the office pool the last time the jackpot was in the high 9 figures, whenever that was. However, when I get in the office pool, it's less about the cash and more for the reason that if it does hit, I don't want to be the only one who has to go into work the next day! ;)
"Dealer has 'rock'... Pay 'paper!'"
DRich
DRich
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Mission146
May 13th, 2021 at 9:02:00 AM permalink
Quote: Joeman


That said, I can't remember the last time I bought a lottery ticket. I probably threw $2 into the office pool the last time the jackpot was in the high 9 figures, whenever that was. However, when I get in the office pool, it's less about the cash and more for the reason that if it does hit, I don't want to be the only one who has to go into work the next day! ;)



I always shake my head when people say that. Would you really not go to work the next day? I can't imagine screwing my co-workers because I was fortunate. I would definitely offer at least two weeks notice if I was quitiing. I also wouldn't tell anyone that I won other than my wife. My excuse for leaving would just be that I decided to take an early retirement and that my wife and I decided to do some travel.
Order from chaos
Joeman
Joeman
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Mission146
May 13th, 2021 at 9:15:40 AM permalink
Quote: DRich

I always shake my head when people say that. Would you really not go to work the next day? I can't imagine screwing my co-workers because I was fortunate.

It's the office pool. If it were to hit, all of my co-workers (including the owner of the company) would be rich! Actually, we would probably want to come in the next day to celebrate, but probably not too early.

But to your point, if I was to come into a windfall that made my current salary insignificant, I would still stick around for two weeks or whatever seems appropriate to hand off my projects and get a replacement up to speed.

Quote:

I also wouldn't tell anyone that I won other than my wife. My excuse for leaving would just be that I decided to take an early retirement and that my wife and I decided to do some travel.

I'm with you on this one. If I won on a ticket that I bought for myself, I would tell my wife first, then call an estate lawyer to set up trusts or whatever rich people do to protect their wealth and privacy.
"Dealer has 'rock'... Pay 'paper!'"
onenickelmiracle
onenickelmiracle
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Mission146
May 13th, 2021 at 2:56:37 PM permalink
Quote: TomG

I've never understood this idea that a lottery ticket is buying a dream. I can dream about what I would do with $1 million (or $1 billion) without every spending a penny on a lottery ticket.

There are ways to take a shot at life changing payouts that have better odds. Put $1 on an inside number on roulette and keep letting it ride. Seems like it should have a lower house edge on a shot at $1 million than a lottery ticket. Obviously table limits make that not much more than a theory. Then why not bets that are +EV and give the player a shot at a huge payout? In Nevada, there are some statewide progressive slot machines that often reach +$1 million jackpots that sometimes have other stuff that give them a player advantage. Or a 10- or 15-team parlay.

But I want to be president...and hear them say, "I can't believe he said that".
Follow me: https://www.heavensgate.com/
onenickelmiracle
onenickelmiracle
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Mission146
May 14th, 2021 at 2:00:20 PM permalink
https://www.yahoo.com/news/woman-says-26m-california-lottery-014144450.html
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Mission146
Mission146 
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June 2nd, 2021 at 8:47:18 AM permalink
Here's a short one (No, really, it is short!) about a state lottery getting massacred on a game:

https://wizardofvegas.com/articles/the-day-the-lottery-lost/
Vultures can't be choosers.
Mission146
Mission146 
Joined: May 15, 2012
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June 7th, 2021 at 4:42:32 AM permalink
Quote: Mission146

Here's a short one (No, really, it is short!) about a state lottery getting massacred on a game:

https://wizardofvegas.com/articles/the-day-the-lottery-lost/



Here's a long one that lists what I have done so far and what's coming up.

I also have a WoO Page that will be coming out on the effects of the Covid-19 pandemic on State Lotteries for 2020. The first page will be a study that is about 60% finished because not all of the data (Lottery Annual Reports) has come out yet for calendar 2020 (if same as fiscal year) or FY20, for every state.

Anyway, I summarized my findings of that study in this article, so please read this article and then you can decide if you want to look at the full study to see how individual states did.

Finally, I answered some, "Frequently Asked Questions." Which is to say questions that I have been asked, but using the word, "Frequently," makes it sound like everyone is just dying to know what I'm doing.
Vultures can't be choosers.
100xOdds
100xOdds
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Mission146
June 8th, 2021 at 7:35:51 AM permalink
Quote: Mission146

Here's a long one that lists what I have done so far and what's coming up.

I also have a WoO Page that will be coming out on the effects of the Covid-19 pandemic on State Lotteries for 2020. The first page will be a study that is about 60% finished because not all of the data (Lottery Annual Reports) has come out yet for calendar 2020 (if same as fiscal year) or FY20, for every state.

Anyway, I summarized my findings of that study in this article, so please read this article and then you can decide if you want to look at the full study to see how individual states did.

Finally, I answered some, "Frequently Asked Questions." Which is to say questions that I have been asked, but using the word, "Frequently," makes it sound like everyone is just dying to know what I'm doing.

and the link to that article is here:
https://wizardofvegas.com/articles/lottery-corollary/

:)
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)

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