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| Is 1.6 Billion Dollars time to buy a lotto ticket just because of the chance? |
| Yes |
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84% |
[ 21 ] |
| No |
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16% |
[ 4 ] |
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| Total Votes : 25 |
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Omar Little
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Joined: 02 May 2005
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Location: Formerly Known As 24
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 Posted: Wed Oct 24, 2018 3:19 pm Post subject: |
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| slavavov wrote: | | Omar Little wrote: | | slavavov wrote: | | I don't see the point in playing the lottery. Instead of spending what amounts to a few hundred dollars a year on lotto tickets (if you play every week), I'd rather invest that money on something that will actually bring me a solid ROI. Or gamble on something that actually involves skill so that I can have some kind of control over whether I'll win. |
What’s the ROI on a theater ticket, or a tank of gas to take a scenic drive? |
I'm talking about people who play the lottery on the reg. Buying one only when the jackpot is this high may not be a bad thing, but if you play every week, it adds up and that money should be put to better use.
There are some really solid and trustworthy self-employment/business opportunities out there that only require an investment of no more than a few hundred dollars, which is how much money you'd be throwing away (at least) if you play the lottery every week or two. |
I agree that there are better uses of money if you're buying them continuously. OTOH, the business "opportunities" that cost a few hundred dollars are generally poorer odds than the lottery.
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slavavov
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Joined: 03 Oct 2003
Posts: 8330
Location: Santa Monica
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| Posted: Wed Oct 24, 2018 4:24 pm Post subject: |
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| Omar Little wrote: | | slavavov wrote: | | Omar Little wrote: | | slavavov wrote: | | I don't see the point in playing the lottery. Instead of spending what amounts to a few hundred dollars a year on lotto tickets (if you play every week), I'd rather invest that money on something that will actually bring me a solid ROI. Or gamble on something that actually involves skill so that I can have some kind of control over whether I'll win. |
What’s the ROI on a theater ticket, or a tank of gas to take a scenic drive? |
I'm talking about people who play the lottery on the reg. Buying one only when the jackpot is this high may not be a bad thing, but if you play every week, it adds up and that money should be put to better use.
There are some really solid and trustworthy self-employment/business opportunities out there that only require an investment of no more than a few hundred dollars, which is how much money you'd be throwing away (at least) if you play the lottery every week or two. |
I agree that there are better uses of money if you're buying them continuously. OTOH, the business "opportunities" that cost a few hundred dollars are generally poorer odds than the lottery. |
If someone gets involved with a legit and viable business opportunity, no matter how much the initial investment, there's no real such thing as "odds", only time, effort, skill, desire and the like.
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ringfinger
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Joined: 08 Oct 2013
Posts: 29418
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| Posted: Wed Oct 24, 2018 5:06 pm Post subject: |
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The EV on the lottery is negative.
In other words, don’t do it unless you have money you are willing to throw away. |
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Omar Little
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Joined: 02 May 2005
Posts: 90306
Location: Formerly Known As 24
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| Posted: Wed Oct 24, 2018 8:34 pm Post subject: |
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| slavavov wrote: | | Omar Little wrote: | | slavavov wrote: | | Omar Little wrote: | | slavavov wrote: | | I don't see the point in playing the lottery. Instead of spending what amounts to a few hundred dollars a year on lotto tickets (if you play every week), I'd rather invest that money on something that will actually bring me a solid ROI. Or gamble on something that actually involves skill so that I can have some kind of control over whether I'll win. |
What’s the ROI on a theater ticket, or a tank of gas to take a scenic drive? |
I'm talking about people who play the lottery on the reg. Buying one only when the jackpot is this high may not be a bad thing, but if you play every week, it adds up and that money should be put to better use.
There are some really solid and trustworthy self-employment/business opportunities out there that only require an investment of no more than a few hundred dollars, which is how much money you'd be throwing away (at least) if you play the lottery every week or two. |
I agree that there are better uses of money if you're buying them continuously. OTOH, the business "opportunities" that cost a few hundred dollars are generally poorer odds than the lottery. |
If someone gets involved with a legit and viable business opportunity, no matter how much the initial investment, there's no real such thing as "odds", only time, effort, skill, desire and the like. |
Mkay
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adkindo
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Joined: 16 Jun 2005
Posts: 40345
Location: Dirty South
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| Posted: Wed Oct 24, 2018 8:52 pm Post subject: |
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The lotto is what it is.....a voluntary tax that is regressive in nature. Some people find it a fun form of entertainment. We as Americans do spend money on many different forms of cheap entertainment with little to no return on investment....to each their own.
My only real issue with the lottery is it is often sold as benefiting programs like education.....and in most cases this is simply false. Most states do use lottery revenue for education, but over time it has become the primary funds for education, not an addition to the normal education funds. What may normally be applied to education is simply siphoned off into other programs and "replaced" by lottery revenue....which is mostly a net zero for education funding. My issue is not really even with the practice.....states can do as they please, but my issue is I think they mislead the voters/public in believing that more lottery revenue will result in more education funding. |
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slavavov
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Posts: 8330
Location: Santa Monica
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| Posted: Wed Oct 24, 2018 11:09 pm Post subject: |
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| adkindo wrote: | The lotto is what it is.....a voluntary tax that is regressive in nature. Some people find it a fun form of entertainment. We as Americans do spend money on many different forms of cheap entertainment with little to no return on investment....to each their own.
My only real issue with the lottery is it is often sold as benefiting programs like education.....and in most cases this is simply false. Most states do use lottery revenue for education, but over time it has become the primary funds for education, not an addition to the normal education funds. What may normally be applied to education is simply siphoned off into other programs and "replaced" by lottery revenue....which is mostly a net zero for education funding. My issue is not really even with the practice.....states can do as they please, but my issue is I think they mislead the voters/public in believing that more lottery revenue will result in more education funding. |
I remember when I was a little kid a few of my teachers would tell us about how underfunded our schools were and how they were in bad shape. Sometimes they even showed us stuff like a coat of paint peeling off the wall to reveal 1950s-style wallpaper underneath, or how we had outdated textbooks and other equipment. Now more and more people want to simply do away with public schools altogether under the false guise of "school choice", when in reality these people want all charter schools to teach a curriculum totally based on Christian dogma, which would mean parents wouldn't have a choice in how to educate their kids.
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Last edited by slavavov on Wed Oct 24, 2018 11:29 pm; edited 1 time in total |
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slavavov
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| Posted: Wed Oct 24, 2018 11:16 pm Post subject: |
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| Omar Little wrote: | | slavavov wrote: | | Omar Little wrote: | | slavavov wrote: | | Omar Little wrote: | | slavavov wrote: | | I don't see the point in playing the lottery. Instead of spending what amounts to a few hundred dollars a year on lotto tickets (if you play every week), I'd rather invest that money on something that will actually bring me a solid ROI. Or gamble on something that actually involves skill so that I can have some kind of control over whether I'll win. |
What’s the ROI on a theater ticket, or a tank of gas to take a scenic drive? |
I'm talking about people who play the lottery on the reg. Buying one only when the jackpot is this high may not be a bad thing, but if you play every week, it adds up and that money should be put to better use.
There are some really solid and trustworthy self-employment/business opportunities out there that only require an investment of no more than a few hundred dollars, which is how much money you'd be throwing away (at least) if you play the lottery every week or two. |
I agree that there are better uses of money if you're buying them continuously. OTOH, the business "opportunities" that cost a few hundred dollars are generally poorer odds than the lottery. |
If someone gets involved with a legit and viable business opportunity, no matter how much the initial investment, there's no real such thing as "odds", only time, effort, skill, desire and the like. |
Mkay |
Not sure what you're getting at here when you say that those business opportunities have "generally poorer odds". That was just an example of a better use for the money that people spend playing the lottery every week.
Go on a day trip, join a gym, get a back massage, go to a Laker game or even gamble on sports (if you're savvy at it). If you play the lottery every week you might as well just donate that money to our failing public schools instead.
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Omar Little
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| Posted: Wed Oct 24, 2018 11:23 pm Post subject: |
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I was just pointing out that “legit” business opportunities in the price range of a few hundred usually ain’t legit. Of course you shouldn’t wast money on lotto, and there are always better things to spend your money on than cheap entertainments.
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adkindo
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Joined: 16 Jun 2005
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| Posted: Thu Oct 25, 2018 8:49 am Post subject: |
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PowerBall up to $750,000....for only $2, you could set your family up for generations....and it benefits public education! Get your ticketssss now!  |
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Wolverine
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