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View Full Version : Do you play the lottery?



creek14
02-28-2007, 06:21 AM
Mega Millions will be 267 (or is it 276?) million on Friday. Do you play? And what would you do with that much money? After taxes, of course.

SunDeck
02-28-2007, 07:51 AM
Here's how a mathematician friend of mine describes the lottery (lotto, to be more exact): "Your chances of winning are the same, whether you purchase a ticket or not."

I don't play the lottery, mainly for the same reason. And I don't go to casinos either, but I have thrown a handful of twenty dollar bills off the Suspension Bridge, which was probably just about as much fun.

creek14
02-28-2007, 08:02 AM
I play about 5 or 6 times a year, cause that is about as often as I can remember to buy a ticket.

Down the road about two miles there is a nice house that sits up on a hill. It was built by a local family who won 16 mil a few years ago. So real people do win. Sometimes.

We go to a casino every couple years. My limit it $40. Yeah, I'm a big spender. Once I won $600. And a few months ago I went while on a business trip. I spent $20 and walked out 45 minutes later with $300.

If I ever won the lottery I would share with my family, then give some friends some money, then buy four Diamond seats every season between now and when I die.

GIK
02-28-2007, 08:34 AM
My office does a lotto pool when it gets up around $150M-ish. I can't not chip in on the off-chance we hit. I'd kill myself if I was that one guy who didn't join the pot as they all quit their jobs.

Roy Tucker
02-28-2007, 08:35 AM
I used to buy about $5 worth of tickets for the Super Lotto whenever it got to $20M or more. I figure if I'm going to win, it ought to be a significant amount. Don't want to waste my winning on a $1M ticket :)

But I haven't played in a couple years now. I'm not sure why. I'm not even sure where to buy Mega Millions tickets.

The way I looked at it, I was paying $5 for the entertainment value of that one 5-10 seconds moment when I looked up the winning numbers and thought "you never know".

I figured $5 for that 5-10 second rush was better than smoking crack.

RFS62
02-28-2007, 09:00 AM
I play every now and then. I always buy one ticket.

I figure that the only way I'll win is with God's intervention. And that should only take one ticket. Buying more would be an insult.

RANDY IN INDY
02-28-2007, 09:15 AM
That's kinda my theory, too, RFS62.:beerme:

GAC
02-28-2007, 09:20 AM
Nope. I think of all that money I have saved since it's inception.

And since studies have shown you have a better chance of getting hit by lightning then winning the lotto, I'm not taking any chances. :mooner:

RFS62
02-28-2007, 09:21 AM
Your odds wouldn't be much different if you'd never been born.

HumnHilghtFreel
02-28-2007, 09:22 AM
I play when it gets high(thanks for reminding me, I'll have to get a ticket later lol).

Spending a buck or two here and there for the chance to win millions is worth it to me.

If I won, RedsZone would probably get its largest ever donation.

15fan
02-28-2007, 11:39 AM
Megamillions jackpot on Fri night: $267 million.

http://www.megamillions.com/

If you take the cash option - which you always should - and assume you clear 40%, that's about $107 million.

That would be a pretty sweet return on a $1 ticket.

TeamCasey
02-28-2007, 11:45 AM
I'd buy an island ..... and a boat. I'd never see anyone again.

beb30
02-28-2007, 11:56 AM
$107 million - id be buying some properties around the U.S. primarily in warm climate areas, along with some nice cars and by nice I mean ferrari/lamborghini.

KronoRed
02-28-2007, 01:34 PM
Nope, waste of money.

zombie-a-go-go
02-28-2007, 01:36 PM
My father calls the lottery, and I quote, "a tax on stupidity."

No offense intended. I don't play, myself. That's beer money.

beb30
02-28-2007, 01:54 PM
I've done it once and all I spent was $1 on a line for $57 million and frankly I dont consider it that big of a loss especially with the crap I probably would of wasted my money on anyway - that extra candy bar or pop that I dont need anyway. Besides a $57 million return on $1 even if the chances are close to 0 is still a heck of a return.

westofyou
02-28-2007, 02:03 PM
Lottery tickets... the thing some folks buy while they also buy their smokes.

Lighting up they inhale and say, I'll never get cancer... exhaling they scratch the tickets saying.. today is the day I win.

flyer85
02-28-2007, 02:05 PM
Have heard it described as a tax on people who don't understand probability and statisitics.

texasdave
02-28-2007, 02:12 PM
Steve Forbert once wrote a song titled 'You can not win if you do not play". I always liked that song. I only play a handful of times a year but if I ever do win I'm hiring ole Steve to entertain me when I do.

pedro
02-28-2007, 02:55 PM
I voted no because I haven't bought a lottery ticket in years but I do think about it from time to time when the pot gets really large.

SunDeck
02-28-2007, 03:20 PM
And since studies have shown you have a better chance of getting hit by lightning then winning the lotto, I'm not taking any chances. :mooner:

Good thing, because we all know that is exactly what would happen to you after winning the lottery.

That or falling out of a tree.

Or blowing your eyebrows off again.

Red in Chicago
02-28-2007, 04:29 PM
for about a year, a group of my coworkers chipped in a buck a week to play the lottery...we never really won much of anything...then it just got to be a pain the butt for the person collecting the money each week...the bad thing about work pools, is that if you don't chip in and it hits, you're screwed as gik already mentioned...luckily, we finally all decided to give up...now i only play when the pot gets to be a good size...this week, i'll definately be playing:beerme:
creek, i'll have four more diamond seats next to you:devil:

gonelong
02-28-2007, 04:44 PM
My father calls the lottery, and I quote, "a tax on stupidity."

No offense intended. I don't play, myself. That's beer money.

I am good for about 4 or 5 tickets a year, generally as part of a group at work. Has to be in the 100s of Millions before I'll bother. If I am going to win I want FU money.

GL

15fan
02-28-2007, 04:48 PM
There'd be some philanthropy and some things I'd do for the family.

Then there would be an absolutely out-of-control binge of morally reprehensible and completely self-indulgent debauchery.

It would be epic.

WMR
02-28-2007, 04:50 PM
I'd be "making it rain," that's for sure.

15fan
02-28-2007, 04:52 PM
once the pot tops $70 million, i'll throw in $1 for each subsequent drawing until someone hits.

(I also have a vested interested in the continued solvency of the HOPE scholarship program here in Georgia.)

Joseph
02-28-2007, 04:59 PM
If I had stupid money like that I'd buy a suite at GABP as well as a pair of Diamond seat season tickets as well as some season tickets on the dugout corner by the Reds dugout.

Yes thats a lot of tickets, but still I'd love it and could share with friends.

I'd buy the top of the Ascendancy [I think thats the name] over in Newport as well as a few hundred acres in the 'hills' somewhere a couple hours from the 'nati.

One year, I'd see all 162 games in person, just because.

Naturally I'd help a lot of other people as well.

oneupper
02-28-2007, 05:02 PM
If you are poor, playing the lottery makes sense. That $1 you spend will not change your life. The payoff will.

If you are a multi-millionaire, it's a waste. A jackpot will not change your life.

On "average" you lose about 70% of each dollar you put into the lotto, so it seems that playing is not a rational decision. But it can be...based upon the above (which some really smart people modeled mathematically and called "utility theory").

My wife play a buck or two when we go grocery shopping. I don't discourage her.

Myself, I play the financial markets. Better odds, but not necesarily more rational.

GIK
02-28-2007, 06:45 PM
Interesting lotto winner and his story:
http://money.cnn.com/2007/02/20/magazines/fortune/lottery_winnings.fortune/index.htm?postversion=2007022807

Falls City Beer
02-28-2007, 06:50 PM
If you are poor, playing the lottery makes sense. That $1 you spend will not change your life. The payoff will.

If you are a multi-millionaire, it's a waste. A jackpot will not change your life.

On "average" you lose about 70% of each dollar you put into the lotto, so it seems that playing is not a rational decision. But it can be...based upon the above (which some really smart people modeled mathematically and called "utility theory").

My wife play a buck or two when we go grocery shopping. I don't discourage her.

Myself, I play the financial markets. Better odds, but not necesarily more rational.

While I agree it's probably not terribly harmful to buy lotto tickets (within reason), there is something about the principle of squandering money that you KNOW you'll never see again. That's enough for me to stay away.

oneupper
02-28-2007, 06:54 PM
Interesting lotto winner and his story:
http://money.cnn.com/2007/02/20/magazines/fortune/lottery_winnings.fortune/index.htm?postversion=2007022807

That guy had it together.

Nothing like the homeless dude who was on Oprah. They GAVE him $100.000 as an experiment and he pissed it away in 6 months (and is homeless again)

creek14
02-28-2007, 07:10 PM
I don't consider the ~$50 I spend annually on the lottery a waste of money. It's entertainment for me. I love the dreaming about what I would do with that money.

I spend about that much a year on alcohol. I don't smoke. I've given up sugar. I'm married, so illicit sex is out. What am I talking about, I'm married, so all sex is out...

Heck, it's my only vice.

Falls City Beer
02-28-2007, 07:18 PM
I don't consider the ~$50 I spend annually on the lottery a waste of money. It's entertainment for me. I love the dreaming about what I would do with that money.

I spend about that much a year on alcohol. I don't smoke. I've given up sugar. I'm married, so illicit sex is out. What am I talking about, I'm married, so all sex is out...

Heck, it's my only vice.

I can understand that. If you get a kick out of it, then who's anyone to say it's a waste?

I don't get a similar thrill, so to me it's just pissing away money.

vaticanplum
02-28-2007, 08:17 PM
I have zero interest in gambling, and dating a guy with a serious gambling addiction sent that down to the negatives. Even hearing about a large pot just turns my stomach. Years of being poor has also made me very cheap and I don't spend my money unless I can get a guaranteed satisfying result from it. So poor that I beg to differ with this statement:


If you are poor, playing the lottery makes sense. That $1 you spend will not change your life. The payoff will.

One dollar is a huge difference to me most of the time, let alone a dollar a week! Ahhh!!!

That said, creek is right: a vice is a vice, and if this is where people choose to spend their money, have at it. I spend too much money on alcohol. It's just personal taste.

TeamSelig
02-28-2007, 08:28 PM
no way, waste of money IMO

GAC
02-28-2007, 08:47 PM
Have heard it described as a tax on people who don't understand probability and statisitics.

So people who play the lottery are also the same people who complain about Dunn's K rate? :mooner:

GAC
02-28-2007, 08:50 PM
Your odds wouldn't be much different if you'd never been born.

You just blew my mind

http://content.answers.com/main/content/wp/en/b/ba/Kramer2.jpg

GAC
02-28-2007, 08:55 PM
If you are poor, playing the lottery makes sense. That $1 you spend will not change your life. The payoff will.

But it's not simply about a dollar. According to some past studies that I have read though, the lottery really hurts the poor the most. They don't have the money to be playing the lotto to begin with, yet are constantly playing it in hopes of cashing in. And again - what are the probabilities?

The rest of society that does play the lotto, for the most part, can afford to throw away 10-15 bucks a week on tickets. It's not gonna hurt them overall. The poor not so much.

SandyD
03-01-2007, 01:35 AM
I play occasionally. Very occasionally. I'll join the pools at work when we have them ... haven't had one in years ... and a few times a year I'll buy one or two. I may have bought 5 all last year.

It's fun to dream.

Ltlabner
03-01-2007, 08:54 AM
But it's not simply about a dollar. According to some past studies that I have read though, the lottery really hurts the poor the most. They don't have the money to be playing the lotto to begin with, yet are constantly playing it in hopes of cashing in. And again - what are the probabilities?

The rest of society that does play the lotto, for the most part, can afford to throw away 10-15 bucks a week on tickets. It's not gonna hurt them overall. The poor not so much.

You hit the key GAC. Playing the lotto for kicks when you can afford to light the money on fire is one thing. Playing the lotto as a financial scheme or retirement plan when you don't have much disposable income anyway is a bad, bad idea.

Redlegs23
03-01-2007, 09:10 AM
One of my buddies won about $450,000 on his first lotto ticket ever purchased. He only bought one because his friends all were buying them and they pressured him to.

I've bought about two in my life, and only when people at work get a group together to buy them. I could not live with myself if they all got rich and moved to the bahamas and I was still plugging away at the office.

BuckWoody
03-01-2007, 09:28 AM
If the people at work take up money for lottery tickets, I am not able to pass it by. If they overcome the one in eleventy-billion odds to win and I didn't throw in a buck, I can't imagine the overwhelming angst that I'd live with the rest of my life. The dollar is worth my peace of mind...however twisted it may be. :)

I think my wife throws a couple of bucks at it every week. It's worth that if only just to daydream for a few minutes.

15fan
03-03-2007, 11:51 AM
No Mega Millions winner last night.

Tuesday drawing is $340 million.

Cash option would get you somewhere in the neighborhood of $136 million.

All for a $1 wager.

That's a pretty small ante for a great big pot o' cash.

Red in Chicago
03-03-2007, 12:27 PM
i was part of a pool last night...we had $200 worth of quick pick tickets and only won back $6:eek: ...yet, somehow i can't wait for tuesday drawing;)

creek14
03-06-2007, 12:54 PM
Big ticket sales, Mega Millions jackpot hits record
Tuesday, March 06, 2007

NEW YORK — Lottery machines cranked out tickets at a dizzying rate Tuesday as the Mega Millions game that includes Ohio and 11 other states drew bettors with a jackpot estimated at a record $355 million.

Because of the huge prize and publicity, the participating states agreed to move Tuesday night's drawing from the game's usual home in Atlanta to New York's Times Square.

Although this would be the biggest Mega Millions jackpot, there was a $363 million jackpot in 2000 when it was known as the seven-state Big Game. That prize was split by two winners.

The competing Powerball game — available in 29 states, the District of Columbia and the U.S. Virgin Islands — has the record for the largest single winner with $314.9 million, on Christmas Day.

The odds of winning the Mega Millions jackpot are about 1 in 176 million. Besides Ohio, Mega Millions tickets are sold in California, Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey, New York, Texas, Virginia and Washington state.


On the Net:

Mega Millions: http://www.megamillions.com/

15fan
03-06-2007, 01:55 PM
If I win tonight, I'm buying up a chunk of land and building a spring training / minor league complex for the Reds. Then I'll build a house on the property so that spring training will be in my yard. The official mailing address will be:

The Cincinnati Reds
52 George Foster Way
15fan's Backyard, FL

And I'll still have about $75 million left to play with.

HumnHilghtFreel
03-06-2007, 04:58 PM
I just went to the corner gas station to blow my $1.

Here's to hoping.

GIK
03-07-2007, 11:08 AM
There was a winner in GA.

15fan?!?! :)