No. Bleah.
However, my husband does. So I guess I'm kinda covered either way?
I had a mathematically wise boyfriend once who said "The difference in possibility of winning between NOT buying a ticket and buying a ticket is infinite. The difference between buying one ticket and buying two is miniscule."
So I buy ONE ticket once in a blue moon. (Bear in mind, though, that I have NO ADDICTIVE TENDENCIES - if you do, you should stay far far away from gambling).
I reason that the price of one ticket is worth the entertainment value of imagining what I might do with the money if I win. And there has been a surprising benefit. The mental exercise of deciding where I would spend the money has clarified my goals.I find that I focus on security (paying off my and family members' home loans, providing a steady income for certain friends and family members who have challenges) and charity (would love to do something for foster kids who age out of the system and for ex-addicts trying to re-integrate into society) and travel. VERY LITTLE of my daydreaming has anything to do with more stuff or a bigger home or a fancier car.
This helps me see that, for me, paying off my home mortgage and building up my retirement income for safety are high value. Cheap travel in retirement ranks high (maybe even renting out my house for a year and living in another country). Helping certain friends and family to understand their finances and set goals is key. And I would definitely like to do some volunteering when retired.
And guess what? NONE of those things are dependent on me winning the lottery! I can achieve all those goals just by achieving FIRE and using the tools I already possess to help others.
Worth $2 once in a while to help me re-clarify those goals.
Yes, when things get big, only to enjoy coming up with a plan for if we did hit it big. I have one too- not tell anyone beyond my family after signing NDA's, darkening my house and renting in a local gated community, waiting until the last moment for my working trust to declare the winnings. To pick a charity to goose and share the Karma with and set up something multigenerational that gives opportunity, but not wealth to future generations of our heirs.
Still have a better chance of being mauled by both a polar and a grizzly bear on the same day but entertainingly affordable.
I thought lotteries typically publish the names of winners. I am not an expert on the lottery though. Maybe that's optional.
I buy a $1 lottery ticket maybe 2x a year. For obvious reasons (like the odds of winning), I can't picture spending serious dough on lottery tickets, but I find $1 for 36 hours of daydreaming about what I'd do if I had oodles of money to be a fair deal.
I buy a $1 lottery ticket maybe 2x a year. For obvious reasons (like the odds of winning), I can't picture spending serious dough on lottery tickets, but I find $1 for 36 hours of daydreaming about what I'd do if I had oodles of money to be a fair deal.+1
I approach it like I would approach the pot in a game of poker. The odds of winning the lottery are 175 million to 1. However, the current Powerball jackpot is 450 million. That's over a 2-1 return on risk. I'd say that's worth a couple bucks.
The hubby and I live in a state that doesn't allow the lottery. However, before we moved here, we probably spent about $5/year on lottery tickets when the jackpot got huge. We took it out of our entertainment budget and had fun playing the "what if" game.Yup. The ones who play because they legitimately expect to win sometime, maybe..but the people who are like meh, it's 2 bucks to daydream, can't really fault someone for $2 entertainment.
I had a coworker once who derisively referred to it as "a tax on stupid people", which, sure, you can look at it that way. But there are so many things that could fit that category: soda, cable tv, oil changes at overpriced service stations...pick a topic.
I approach it like I would approach the pot in a game of poker. The odds of winning the lottery are 175 million to 1. However, the current Powerball jackpot is 450 million. That's over a 2-1 return on risk. I'd say that's worth a couple bucks.
A 2-1 return on risk is worth much more than a couple bucks investment. If that were the real return there would be an industry set up solely to purchase lottery tickets. But you're ignoring a couple things: 1) the "jackpot" is usually not the present cash value - it's the amount that would be paid to the winner over a long period, like 20-25 years (the cash value is usually roughly half that) and 2) the odds that someone else will also win (which are quite high when the jackpots get big and more tickets are sold) and you'll have to split the pot, though you don't get half your investment back. So if Powerball is currently at $450MM, take half that (present cash value) and factor in the odds that you'll have to split it. You'll probably find it -ev.
I approach it like I would approach the pot in a game of poker. The odds of winning the lottery are 175 million to 1. However, the current Powerball jackpot is 450 million. That's over a 2-1 return on risk. I'd say that's worth a couple bucks.
A 2-1 return on risk is worth much more than a couple bucks investment. If that were the real return there would be an industry set up solely to purchase lottery tickets. But you're ignoring a couple things: 1) the "jackpot" is usually not the present cash value - it's the amount that would be paid to the winner over a long period, like 20-25 years (the cash value is usually roughly half that) and 2) the odds that someone else will also win (which are quite high when the jackpots get big and more tickets are sold) and you'll have to split the pot, though you don't get half your investment back. So if Powerball is currently at $450MM, take half that (present cash value) and factor in the odds that you'll have to split it. You'll probably find it -ev.
Haha, that's awesome.I approach it like I would approach the pot in a game of poker. The odds of winning the lottery are 175 million to 1. However, the current Powerball jackpot is 450 million. That's over a 2-1 return on risk. I'd say that's worth a couple bucks.
A 2-1 return on risk is worth much more than a couple bucks investment. If that were the real return there would be an industry set up solely to purchase lottery tickets. But you're ignoring a couple things: 1) the "jackpot" is usually not the present cash value - it's the amount that would be paid to the winner over a long period, like 20-25 years (the cash value is usually roughly half that) and 2) the odds that someone else will also win (which are quite high when the jackpots get big and more tickets are sold) and you'll have to split the pot, though you don't get half your investment back. So if Powerball is currently at $450MM, take half that (present cash value) and factor in the odds that you'll have to split it. You'll probably find it -ev.
I'm aware of at least one syndicate that attempted to purchase every possible combination. Mind you, this was a while ago and it wasn't Powerball - they were only trying to buy 7 million possible combinations at $1 apiece to win $27M paid out over 20 years. But this group saw an opportunity and jumped in with fists full of money.
RICHMOND, Feb. 24— There is a dream common among regular lottery players: to wait until the jackpot reaches an astronomical sum and then to buy every possible number, guaranteeing a winner.
Sure, it would cost millions of dollars. But the payoff would be much richer.
In Virginia this month, one investment group came tantalizingly close to cornering the market on all possible combinations of six numbers from 1 to 44. State lottery officials say that the group bought tickets for 5 million of a possible 7 million combinations, at $1 each, in a lottery with a $27 million jackpot. Only a lack of time prevented the group from buying tickets for the remaining 2 million combinations.
Read more at http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html
And if you were curious - they did win.
Read more at http://articles.wdbj7.com/2012-03-30/virginia-lottery_31263333
I am not an expert on lottery - but I think that matches of fewer numbers also pay winnings. For instance, matching 3, 4, and 5 numbers also have payouts. The figures so far have only been for winning the "big" jackpot for matching 6 numbers. I realize the odds of winning anything are still extremely long. The amounts paid for matching fewer numbers also increases as the jackpot grows. Just thought it was worth mentioning if it is going to get all mathy up in here.
I am not an expert on lottery - but I think that matches of fewer numbers also pay winnings. For instance, matching 3, 4, and 5 numbers also have payouts. The figures so far have only been for winning the "big" jackpot for matching 6 numbers. I realize the odds of winning anything are still extremely long. The amounts paid for matching fewer numbers also increases as the jackpot grows. Just thought it was worth mentioning if it is going to get all mathy up in here.
I throw $1/week into the lottery pool at work. My thought is that I don't want to be stuck here when everyone else quits!
I bought one the day I turned 18 because cigarettes seemed worse. None since then.
I was at my in-law's home (not financially well-off) and they decided to buy all of us (six people) a powerball ticket. Guess whose ticket won $7? Mine. I felt bad, since I know we have the most money of anyone. I really don't want to play and never want to win the lottery. Too many problems to come from it.
Of course! It's the high risk, high return portion of my retirement portfolio!! :-D
A former co-worker often made comments on how she should play the lottery. One day when she mentioned it again, I asked her if she was taking advantage of the company's 401k match, then helped her understand index funds. From then on, she stopped making lottery comments and started asking about retirement vehicles. :)*High five!*
A former co-worker often made comments on how she should play the lottery. One day when she mentioned it again, I asked her if she was taking advantage of the company's 401k match, then helped her understand index funds. From then on, she stopped making lottery comments and started asking about retirement vehicles. :)*High five!*
I play 6 times a week to the tune of $8/wk, $416/yr. I might win $100-$150/yr back.
At $300/yr net, over 20 years at 8% that's $15k. Not enough to change my life towards the negative...but hey...every week someone wins a few million bucks. I know it will likely never be me, but nothing can change my life so quickly and easily than the lottery. And hey if it doesn't work out...I always have my 50%+ savings rate to fall back on.
I play 6 times a week to the tune of $8/wk, $416/yr. I might win $100-$150/yr back.
At $300/yr net, over 20 years at 8% that's $15k. Not enough to change my life towards the negative...but hey...every week someone wins a few million bucks. I know it will likely never be me, but nothing can change my life so quickly and easily than the lottery. And hey if it doesn't work out...I always have my 50%+ savings rate to fall back on.
You could just light a match to those dollar bills you spend on the lottery.
At least that way, you'll get some heat value out of them, rather than just wasting them.
I throw $1/week into the lottery pool at work. My thought is that I don't want to be stuck here when everyone else quits!
I throw $1/week into the lottery pool at work. My thought is that I don't want to be stuck here when everyone else quits!
This.
Some coworkers just started a pool this week for Saturday's weekly drawing. I toss in my buck in order to join the conversation & not be the only one left behind when the group "calls in rich." ;-)
What about entering contests? There are lots of websites cataloguing open contests at any given time and with LastPass' form autofill + a fake facebook account (contests will require an FB account and will spam the shit out of it), it takes about 30 secs to apply for a contest. Do this 30 minutes a day and you've entered 50+ contests with better odds than lottery. You don't win millions but you'd be surprised how many contests pay cheques or trips worth thousands and sometimes tens of thousands.
You can't win if you don't play.
You can't win if you don't play.
I actually believe that to be one of the greatest brainwash phrases ever perpetuated on a society. Right up there in the platitude list with "there's no 'I' in team", "you are what you eat", "you only live once (YOLO)", and "everything happens for a reason".
You can't win if you don't play.
I actually believe that to be one of the greatest brainwash phrases ever perpetuated on a society. Right up there in the platitude list with "there's no 'I' in team", "you are what you eat", "you only live once (YOLO)", and "everything happens for a reason".
"You are what you eat" isn't a platitude. It's conservation of energy and mass, etc. Simple physics.
"You are what you eat" isn't a platitude. It's conservation of energy and mass, etc. Simple physics.
It's also the reason I only eat good looking people.
"You are what you eat" isn't a platitude. It's conservation of energy and mass, etc. Simple physics.
It's also the reason I only eat good looking people.
^^ Nice!!! As for it being "simple physics", I have never seen anyone eat celery and then turn into celery. Also, as for "conservation of mass", I've never seen anyone get fat from eating beach sand.
"You are what you eat" isn't a platitude. It's conservation of energy and mass, etc. Simple physics.
It's also the reason I only eat good looking people.
^^ Nice!!! As for it being "simple physics", I have never seen anyone eat celery and then turn into celery. Also, as for "conservation of mass", I've never seen anyone get fat from eating beach sand.
Turning into celery would be a pretty neat trick! :-D I was thinking more of the constituents of celery - water, vitamin K, molybdenum, folate, potassium, dietary fiber, manganese, etc.
"You are what you eat" isn't a platitude. It's conservation of energy and mass, etc. Simple physics.
It's also the reason I only eat good looking people.
^^ Nice!!! As for it being "simple physics", I have never seen anyone eat celery and then turn into celery. Also, as for "conservation of mass", I've never seen anyone get fat from eating beach sand.
Turning into celery would be a pretty neat trick! :-D I was thinking more of the constituents of celery - water, vitamin K, molybdenum, folate, potassium, dietary fiber, manganese, etc.
. . . and this logic shows why eating other people constitutes the best possible diet anyone could ever hope to have. It is a fact that people contain 100% of the chemicals that make up people.
Well, I just bought five tickets. Actually my husband did. I have a patient whose husband recently died. Today was his birthday. He liked to gamble, so I bought some lottery tickets and gave them to her in his memory. Yes, I know it was a waste of money but I don't regret it.
Well, I just bought five tickets. Actually my husband did. I have a patient whose husband recently died. Today was his birthday. He liked to gamble, so I bought some lottery tickets and gave them to her in his memory. Yes, I know it was a waste of money but I don't regret it.
You'll regret it if one of them is the winning ticket!!!! :-D Just kidding, that was a very nice thing to do. :-)
British couple win a million in lottery for 2nd time (http://www.msn.com/en-us/news/world/british-couple-win-a-million-in-lottery-for-2nd-time/ar-AAajed1)
"Lottery operator Camelot said Wednesday the couple beat odds of 283-billion-to-1."
"I'm not poor and I already have a retirement plan. "Which is why I buy one once in a blue moon. As in less than once a year. I'm FIRE, so occasionally I go with the "'What the hell?' is always the right answer" theory. Since I buy gas and groceries at Costco and rarely set foot in a regular grocery or convenience store, I just never think about buying them. Out of sight, out of mind, I guess.
British couple win a million in lottery for 2nd time (http://www.msn.com/en-us/news/world/british-couple-win-a-million-in-lottery-for-2nd-time/ar-AAajed1)
"Lottery operator Camelot said Wednesday the couple beat odds of 283-billion-to-1."
Here's the thing with lotteries: The odds somebody will win is 100%. As are the odds that somebody will get eaten by a shark, somebody will die in a plane crash, somebody will find a huge chunk of gold ore, or somebody will get killed by a tiger.
The odds of the earth being destroyed by an asteroid are also 100%.
"Your odds of dying in an asteroid impact are about one in 700,000.... That’s about the same chance you have of dying in a flood or a fireworks accident over your lifetime. "
http://www.slate.com/articles/health_and_science/mysteries_of_the_universe/2014/02/anniversary_of_chelyabinsk_asteroid_impact_we_need_to_test_a_deflector_mission.html (http://www.slate.com/articles/health_and_science/mysteries_of_the_universe/2014/02/anniversary_of_chelyabinsk_asteroid_impact_we_need_to_test_a_deflector_mission.html)
So, more likely I get smashed by some interstellar debris than win. Better buy a ticket, better buy a helmet too.