/sci/ - Science & Math » Thread #11225211

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Anonymous Sat 14 Dec 14:25:02 2019 No.11225211 View Reply Original Report

Quoted By: >>11225218 >>11225276 >>11225283 >>11225316 >>11225372 >>11225412 >>11225676 >>11225695 >>11227461 >>11227478 >>11227483

Why dont people play the lottery more? You spend $10 and you have a chance to win a lot.

Anonymous

Anonymous Sat 14 Dec 2019 14:26:06 No.11225212 Report

Quoted By:

Some people don't believe gambling is ethical

Anonymous

Anonymous Sat 14 Dec 2019 14:34:10 No.11225218 Report

Quoted By:

>>11225211
You might as well play it, everything else about you is random, IQ, looks, your personality. Why not wealth too?

Anonymous

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Anonymous Sat 14 Dec 2019 14:48:18 No.11225228 Report

Quoted By: >>11225253

Because celestial gf anon wins it every time

Anonymous

Anonymous Sat 14 Dec 2019 15:04:36 No.11225253 Report

Quoted By:

>>11225228
But the money always goes to different people. Is she cheating on him?

Anonymous

Anonymous Sat 14 Dec 2019 15:15:36 No.11225276 Report

Quoted By: >>11225321

>>11225211
The expected return on a ticket is negative and the chances of decent wins on the major lotteries are fucking slim, that's why the rational mind doesn't play the lottery.
However, since the probability of hitting the jackpot while never having played is 0, you slightly increase your chance by investing money into a ticket.

Anonymous

Anonymous Sat 14 Dec 2019 15:18:33 No.11225283 Report

Quoted By:

>>11225211
If you spend $10 once and it's worth it, why not spend $20? $30? Etc.?

Anonymous

Anonymous Sat 14 Dec 2019 15:18:53 No.11225286 Report

Quoted By:

If I do it every week, that's a 20 out of my pocket each month. The odds I'll get the millions are low. The odds I'll lose 20 bucks over 4 tickets every month are high.

Anonymous

Anonymous Sat 14 Dec 2019 15:31:18 No.11225316 Report

Quoted By:

>>11225211
You may as well if you don't drink Starbucks or eat a samwhich, it's all scam anyways.

Anonymous

Anonymous Sat 14 Dec 2019 15:33:17 No.11225321 Report

Quoted By:

>>11225276
>However, since the probability of hitting the jackpot while never having played is 0, you slightly increase your chance by investing money into a ticket.
you don't say that...

Anonymous

Anonymous Sat 14 Dec 2019 16:00:03 No.11225372 Report

Quoted By: >>11225380 >>11225437 >>11225485

>>11225211
What do you think the odds are on a business that lends money to people specifically to buy tickets. I.e. I can use the same bullshit psyops marketing that lotteries use saying "INCREASE YOUR CHANCES OF WINNING, I FUND YOU UP TO 10,000$ PAID IN LOTTERY TICKETS. ONCE YOU WIN, THOSE LITTLE 10K WILL BE POCKET CHANGE!!!!"

Then obviously they won't win so they will have to pay me with their shitty paychecks. The risk management would be tricky.

Anonymous

Anonymous Sat 14 Dec 2019 16:03:36 No.11225380 Report

Quoted By: >>11225388

>>11225372
And what happens when they ask you why aren't you using your own money to buy tickets?

Anonymous

Anonymous Sat 14 Dec 2019 16:08:17 No.11225388 Report

Quoted By:

>>11225380
Maybe I can lobby the government into passing a law that says you can't buy more than X tickets and then I can tell my clients that I am, but I have too much money and can't legally buy more than X tickets for myself. Thus I lend to them.

Anonymous

Anonymous Sat 14 Dec 2019 16:17:55 No.11225412 Report

Quoted By:

>>11225211
Is the worst gambling game from a probabilistic pov

Anonymous

Anonymous Sat 14 Dec 2019 16:31:21 No.11225437 Report

Quoted By: >>11225646 >>11225779

>>11225372
If someone's willing to borrow money in order to play the lottery, they're probably not going to be great at paying back their debts.

Anonymous

Anonymous Sat 14 Dec 2019 16:42:30 No.11225463 Report

Quoted By:

last time I looked at the british lottery the odds were 1:13,000,000

Anonymous

Anonymous Sat 14 Dec 2019 16:55:00 No.11225485 Report

Quoted By: >>11225779

>>11225372
>Credit Score Negative: The Movie

Anonymous

Anonymous Sat 14 Dec 2019 16:59:04 No.11225495 Report

Quoted By: >>11225560

Buying a lottery ticket doesn't increase your chances of winning anymore than not buying a ticket.

The lottery is a regressive tax on the poor

Anonymous

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Anonymous Sat 14 Dec 2019 17:24:43 No.11225560 Report

Quoted By: >>11225716

>>11225495
do not contribute to the lottery
it's not good for you it's not good for me

Anonymous

Anonymous Sat 14 Dec 2019 17:38:16 No.11225591 Report

Quoted By:

It has a negative expected return, but at the same time, it's such an ultimately marginal expense that there's no reason NOT to do it if you're not a poorfag.

You spend 20 a month, an utterly irrelevant amount of money, for a high risk, high reward return.

Anonymous

Anonymous Sat 14 Dec 2019 18:10:30 No.11225646 Report

Quoted By:

>>11225437
Exactly this. Look at how slim the profit margins are on payday & title loan places. The most recent figures I can find for Cash America, the largest payday loan place in the US, gave a 1% net profit.

Anonymous

Anonymous Sat 14 Dec 2019 18:25:17 No.11225676 Report

Quoted By:

>>11225211
>chance to win a lot.
What's the chance of winning the lottery?

Anonymous

Anonymous Sat 14 Dec 2019 18:29:36 No.11225695 Report

Quoted By:

>>11225211
There’s a video online of a guy who spent something like $30,000 on $30 scratch cards, with a grand prize of $1,000,000. The guy scratched off a thousand of those fucking cards, didn’t win the million dollars, and lost ~$9,000 overall.

That’s why I don’t fuck with these scratch cards. It’s a lottery for a reason— the chances of winning are less than 1%. If you win, you’ve literally just gotten lucky.

Anonymous

Anonymous Sat 14 Dec 2019 18:30:49 No.11225699 Report

Quoted By:

>another gambler's fallacy thread

Anonymous

Anonymous Sat 14 Dec 2019 18:36:16 No.11225716 Report

Quoted By:

>>11225560
Kek'ed

Anonymous

Anonymous Sat 14 Dec 2019 19:02:16 No.11225779 Report

Quoted By:

>>11225437
>>11225485
Yeah I know that but with the right risk management you could make it profitable. I could finance you up to 2x your paycheck (which should still be a bunch of tickets so their small brain will think I'm guaranteeing their win) and require proof of employment of at least 3 months. I think this would be profitable, though the pool will be severely restricted so profits would be low unless I manage to cover the entire US.

Anonymous

Anonymous Sun 15 Dec 2019 08:10:50 No.11227461 Report

Quoted By:

>>11225211
haram

Anonymous

Anonymous Sun 15 Dec 2019 08:26:27 No.11227478 Report

Quoted By:

>>11225211
Whenever the jackpot gets retarded big I'll buy some numbers, because why not. There's a non zero probability I could get filthy rich for life
Doing some scratch offs on new years day is also a tradition.
If I want to gamble I'd rather just go to a casino or play some cards.

Anonymous

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Anonymous Sun 15 Dec 2019 08:28:31 No.11227483 Report

Quoted By:

>>11225211
>and you have a chance to win

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