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/biz/ - Business & Finance


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50595319 No.50595319 [Reply] [Original]

Is playing the lottery a smart financial decision?

>> No.50595350

>>50595319
I wasted $10 on it, but hey if I was a billionaire I could take over the world. These winners who dream so small disgust me.

>> No.50595366
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50595366

>>50595319
>the higher the jackpot the better my chances are

>> No.50595381

>>50595319
it's probably my only shot this lifetime of opening a sick car tuning and coachbuilding business in socal

>> No.50595431

For a paltry $3, you'd be stupid to not buy one ticket. Additional tickets don't really help your odds much, so buying lots of tickets is not really smart either.

A small chance is better than zero chance if the cost is not meaningful to you.

>inb4 midwits regurgitating memes about the stupid tax

>> No.50595561

>>50595431
>"You're stupid if you dont buy a ticket"
>*Doesn't even know the correct price of a ticket, proving he's never actually bought a ticket before*
Pottery

>> No.50595578

>>50595319
how many lotteries did epstein and his associates win again?

>> No.50595617

>>50595561
It's 3 dollars with the 3x multiplier option for non-jackpot prizes.

>> No.50595623

>>50595561
>t. doesn't play the megaplier

>> No.50595661
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50595661

>>50595319
Paying $2 for almost three days of daydreaming fun? Sounds like a good price-to-entertainment-hour ratio to me, fren :)

>> No.50595703
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50595703

>> No.50595753

>>50595319
the jackpot needs to be higher than the price of all the tickets you need to buy in order to cover 50% of all possible numbers.

>> No.50595762

>>50595319
Only if you win.

>> No.50595775

>>50595703
This. Have you ever known anyone who won the lottery? Statistically, you'd have at least heard of a friend of a friend of a friend by now. But you haven't. No one has. Because nobody ever really wins.

>> No.50595851

No. you don't need 400 million to change your life. 10 million or 5 mill after taxes is all you need to be set for life. So basically your odds are 80x less than they should be to have your life changed.

>> No.50596408
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50596408

>>50595617
>doesn’t understand how the megaplier works
Too many shitskin niggers on this board still

>> No.50596466
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50596466

>>50595319
Is it possible to rig this lottery? If we work together there has to be a way to rig it and win

>> No.50596498

>>50596466
Even if you buy every combination of tickets you still run the risk of duplicate tickets forcing you to split the pot.

>> No.50596501

>>50595561
You gotta do the Markiplier © bro, this is lottery 101 stuff. I don't feel like driving across state lines to get a ticket though.

>> No.50596507

I do, I just buy one ticket. As a 0 day options trader, it's very small risk.

>> No.50596539

>>50595775
Eastern won

>> No.50596547
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50596547

>>50595319
Ok, so if 1 guy wins, he gets over 1 billion? How does this make sense?

>> No.50596550

>>50595366
The expected value is greater, though

>> No.50596561

>>50595319

lotto is gov scam

>> No.50596599

>>50595319
Could I finally get cunny if I win?

>> No.50596732

>>50596599
>checked
Yes

>> No.50596758

>>50596547
no silly goy, the government must take their cut for doing literally nothing

>> No.50596794

>>50596758
Less than nothing
>id ZED

>> No.50596800

The big jackpot lottery prices goes up depending on the ask they are making for crisis actors or participants in false flag activities.

If it's this high they must be planning something really grotesque.

>> No.50596812
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50596812

>>50595431
>Additional tickets don't really help your odds much

2 tickets doubles your chance of winning. 3 tickets adds 50% to you chances. 4 tickets adds 33% to your chances

>> No.50596822

>>50595775
Actually yes.

I've never played tho.

>> No.50596893

>>50596408
>intimate knowledge of lottery mechanics
>YOU'RE A SHITSKIN NIGGER IF YOU DON'T KNOW ABOUT THE "MEGAPLIER"
post a pic of your lambo when you win. it's bound to happen eventually.

>> No.50596912

>>50596758
The built the roads for you to get to the store to purchase the ticket. Obama said it best.
https://www.youtube.com/watch?v=9GjqdP6KSOE

>> No.50596961

>>50596912
But in reality they just give the money to Ukraine or sponsoring or to Raytheon's gay pride parade or something

>> No.50596989

>>50596893
I don’t buy into governmental kike controlled operations like you shitskins

>> No.50596999

>>50595431
>Additional tickets don't really help your odds much

>> No.50597011
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50597011

>>50595319
Blackpill time:
The US lottery is a measure of hopelessness in the US Economy
Normalfags play the lottery to live in a fantasy when they see no way of escaping their current circumstances.
This behavior increases the more they hate their life.

Fuck what JPOW said. A billion dollar jackpot means a record number of Americans are staring into threshold of the abyss and are trying to find any light they possibly can -- even if it's just a dream they know will never be real.

>> No.50597020

>>50596999
Nice digits.

>> No.50597031

>>50595366
No, but when the jackpot is higher than a certain amount the value in buying a ticket increases... and its nearing the point where buying the ticket is profitable... the odds are 1:302,575,350 ... assuming $2 per ticket it costs $605,150,700 to guarantee a win... lump sum is nearing that price... minus taxes... if the jackpot reaches $1.5B+ it is profitable to buy every ticket combination if you are the sole winner... the only issue is you can't guarantee you're the sole winner

>> No.50597033

>>50595366
This is unironically true, because my chance of playing the lottery with under $1bn jackpot is 0

>> No.50597129

I have never been a lottery winner but I remember someone told me big lottery prizes get paid in monthly installments to protect the winner from being robbe. I wonder if that's true.

>> No.50597167

>>50596812
wrong, it's either you win it, or you don't. 50% chance no matter how many tickets you buy

>> No.50597176

>>50597129
You can chose. Always take the lump sum.

>> No.50597207

Do I have to Dox myself if I win? Because I’d just like to go fuck off somewhere and not be bothered about winning a lump sum of 600M

>> No.50597213

>>50597129
If you were to take the $1b jackpot it gets annuitized to something like $33m a year for 30 years... or you can take a lump sum payment at the time you cash in the ticket... but the lump sum is only 60% of the jackpot value.

>> No.50597238

>>50597167
You don't need to buy a ticket to win, you can just find it. Either you do or you don't

>> No.50597262

>>50597207
Depends on what state you live in.

>> No.50597278

>>50597262
I live in WA. I’d really prefer for me to be able to continue living my peaceful quiet life if I won.

>> No.50597304

>>50597167
Holy shit
Are you seriously this dumb?
Your chances of winning the lottery are not 50 fucking percent

>> No.50597347

>>50597278
based and ygmi pilled. you could live in a camper shell and drive around sleeping in national forests banging campers indefinitely

>> No.50597383

>>50597167
Based! How's the actuarial science career going for you?

>> No.50597402

>>50595319
I only play when it's over 1 billion. I will only buy one ticket.

>> No.50597423

Buying more tickets does increase your odds, but considering you're dealing with odds like 1 to 302,500,000 you're not gaining a significant chance to win.

So say you spend $20 on tickets your odds are now 1 to 30,250,000. It is so incredibly unlikely even spending hundreds on tickets that it really is insignificant.

>> No.50597424

>>50597011
that's literally every crypto investor on this board

>> No.50597442

>>50597424
And when normalfags start acting like crypto autists searching for a moonshot, what does that tell you?

>> No.50597453

>>50596812
>2 tickets doubles your chance of winning. 3 tickets adds 50% to you chances. 4 tickets adds 33% to your chances
sick bait, bro.
ticket 1 odds: 1:302,575,350
ticket 2 odds: 1:302,575,349
...and so on...

>> No.50597480

>>50596912
Fuck your roads faggot, they're shit, and they'd still get fixed without taxes

>> No.50597673

>>50595319
I'm pretty sure the lotto just has insiders win all the jackpots at this point. It's basically taking cash from dumb poors and funding Epstein Island type activities.

>> No.50597937

>>50595319
this is cruel really
dropping 1 billion dollars on a poor is a death sentence.
even if your not a poor; notch wants to an hero because there's no point to life once your rich and don't have to work anymore.

>> No.50597950

>>50597167
My roommate in college didn't talk to me for 2 days after we had an argument like this. He insisted that there is a 50/50 chance of life being on Jupiter because it either was or it wasn't

>> No.50598059

>>50595319
the difference between 0 tickets and 1 ticket is a lot better than 1 and 1000

>> No.50598114

>>50595319
if the chances of winning are so low that nobody wins, your money is better spent dumping into shitcoins and meme stocks

>> No.50598129

>>50597453
I can’t even tell if bizsraelites are joking or genuinely retarded anymore

Who am I kidding this board has always been a digital short bus

>> No.50598141

>>50597031
>the odds are 1:302,575,350 ... assuming $2 per ticket it costs $605,150,700 to guarantee a win..

That's not how probabilities work you fucking retard.

>> No.50598153

>>50597937
Notch is a fag.

>> No.50598205

>>50598141
?

>> No.50598322

>>50597937
Didn't he marry a golddigger who divorce raped him like a month after the marriage? Everyone likes to shit on him but you go through that let's see how happy you will be

>> No.50598610

>>50597011
Did he talk about the lottery ?

>> No.50598613
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50598613

>>50595319
Nope, but getting into CHAMP Ultimate Champions is indeed a smart financial decision since they're fucking pumping and their coin just released

>> No.50598692

>>50598141
His post wasn't about probabilities but the value of participating in the lottery itself.

Fucking low iq.

>> No.50599096

>>50598141
>That's not how probabilities work you fucking retard.
You're the smooth brained retard here, there are 302,575,350 total number combinations for Mega Millions tickets, it costs $2 per ticket... if you buy every single number combination possible it costs $605,150,700... you have a ticket for every possible number combination therefore guaranteeing you will win the jackpot.

It has nothing to do with probabilities dumb fuck, if you $605M to purchase every single possible combination that the numbers can be drawn in you are guaranteed to win the jackpot. That's a fact of reality.

>> No.50599135
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50599135

>>50595431
>Additional tickets don't really help your odds much

Remember, these are the people who are giving you financial advice on this board.

>> No.50599226

>>50597031
based retard

>> No.50599267

>>50599096
there are 5 numbers 1-75 & 1 number 1-25 so there's 75*75*75*75*75*25 combinations or 59,326,171,875 combinations which costs $118,652,343,750 to buy

>> No.50599295
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50599295

>>50597167
>t.

>> No.50599322
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50599322

If I get a green ID, then my digits will be the winning numbers. Check 'em.

>> No.50599328

>>50597937
>notch wants to an hero because there's no point to life once your rich and don't have to work anymore.
You work on stuff you wanna work on, not to pay bills. Boo hoo nigga

>> No.50599330

>>50595319
It's not smart, but it's emotionally rewarding

>> No.50599356

>>50599267
Its 70 numbers and you're ignoring overlaps in the numbers which halves it.

>> No.50599426

>>50599356
Dumb it down for you, imagine you can only play numbers 1-10.
If you used your math would be 10*10*10*10*10 which is 100k combinations.
However if you play numbers 12345, which is included in the first "10*", that number combination is also in the second "10*" as 21345 and the third "10*" as 31245 etc.

>> No.50599440

>>50599356
>overlaps in the numbers which halves it
kek please go take prob & stats your local community college
70*69*68*67*66*25 combinations or 36,309,042,000 combinations which costs $72,618,084,000

>> No.50599450

>>50595319
No. The king of incels got hooked on lottery tickets and others paid dearly for it.
Also, make the lottery illegal.

>> No.50599460

>>50595381
lmfao what shit goals. off yourself

>> No.50599491

>>50599440
>70*69*68*67*66*25 combinations or 36,309,042,000 combinations which costs $72,618,084,000
in america you are more likely to die from gunshot than winning the lottery, that's how unlikely it is

>> No.50599499

>>50599491
yes.

>> No.50599607

>>50599440
This is still incorrect, you're only removing one number combination for each draw of "70* "69*" ETC... as I pointed out already, there are multiple overlaps in each draw.... order does not matter.. if 12345 is drawn in the first draw 21345, 31245, 41235, 51234, 42315, 54321, ETC NEED TO BE REMOVED, you are doing bad math.

>> No.50599633

>>50599607
oh cringe i thought you had to have the correct draw order for the lottery
t. never play lottery, math minor
sorry for calling you retard

>> No.50599780

>>50599633
When talking about lottery the draw order only matters in pick 3/pick 4 games where the ball numbers drawn are 0-9... when purchasing the ticket you have an option to "box" the numbers which lowers your payout but the order doesn't matter... or you can play "straight" which means the numbers need to be drawn in your exact order.

Draw order doesn't matter for the games such as Mega Millions/Powerball where the numbers go up to 70/69

>> No.50600369

a small allocation to lottery tickets improves the risk return profile of a portfolio because the skewness is so high

>> No.50600401
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50600401

>>50595366
You chances are literally always the same retard. Laos the lottery is rigged

>> No.50600459

I'm gonna give it a chance
>>50600252

>> No.50600611

>>50595319
The jackpot is going up slowly. People don’t have the money for the lottery.
Bottom signal, but still need to time it — and money crises can always get worse

>> No.50600701

>>50596547
Jesus they all look hagrid.

>> No.50600766
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50600766

>>50600701
Yes, those are guys

>> No.50600799

>>50596547
England?

>> No.50600803

>>50595319
yes

you have 1:310 (million) chance of winning

the payout is 1000:1 (million)

you unironically have a 200% ROI playing the mega millions next week. it just might take you a few (million) years to realize your profit

>> No.50600895

>>50595319
yes, if you win

>> No.50601005
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50601005

>>50595319
"No. It should be banned"

>> No.50601614

Should I let the machine pick my numbers or should I pick my own numbers?

>> No.50602651

>>50597031
Winners fallacy you gambling degen. Take a statistics course higher than a highschool level and come back to me

>> No.50603215

>>50595319
Winning the lottery sounds awful though, most winners say its the worst thing to ever happen to them. Good chance you end up murdered or alienated by friends and family.

>> No.50603223

What's multiplier? If I'm interested only in jackpot, do i need that multiplier? Also, do I just come and say hi I want 3 tickets or what? If I want computer-generated numbers.

>> No.50604284

>>50601005
Based opinion.

>> No.50604307

>>50595319
no, but it's fun to imagine for a moment
I only play when the jackpots get huge like this, because the $2 is well worth it for a couple days of imagining what I'd do with such an incomprehensibly large pile of money

>> No.50604316

>>50603223
multiplier only works on prizes below the jackpot, don't bother
and if you just want the computer to give you random numbers, ask for "quick pick"

>> No.50604376
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50604376

Imagine being stupid enough to waste money on the fucking lottery. You will never win the jackpot. You have a greater chance of being struck by lightning while Tyrone is pounding you in the ass. Faggots.

>> No.50604683

>>50595319
I had a stats class years ago where we went over the odds of winning the lottery. Essentially you should never play anything less than 400 million because the expected value of the ticket is less than the ticket itself. At a billion dollars the expected value of the ticket is still negative but it's negative 80 cents so at least closer to zero.
tldr I'm gonna buy a bunch of quick picks tomorrow. Good luck

>> No.50604753

>>50595319
Will you win? No. Could you win? Maybe. Can you afford to spend two dollars? IDK. I dont play the lottery much but the odds of this being a manipulated payoff to someone is pretty high.

>> No.50604774
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50604774

>>50595319
>win the lottery
>invest it all in vinu
>make that sweet 160% (you just pumped the market)
>sell
>live forever knowing you've just made your family billionaire for at least a couple of generations
what's the best financial decision a man can do a why is this one?

>> No.50604778

>>50604753
this ain't that McDonalds Monopoly shit, you best bet there's a gazillion levels of safeguard on lotteries

>> No.50604795

Just compute the expected value of a lottery ticket based on the prizes and their probabilities, and if the expected value exceeds the price of the ticket it is a good bet.

>> No.50604808

>>50604376
Does Tyrone die, too?

>> No.50604857

If I hit the jackpot, I'm unironically pumping, ALGO, BAT, and ICP with the lump sum. You're welcome in advance.

>> No.50604890
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50604890

>>50595319
You tell me, imagine wasting several lifetimes only to lose money. The lottery is a scam plain and simple, I'm tired of pretending it's not.

>> No.50604975

>>50595775
I know someone who won 1 million on a scratch off and another guy that won several million in the conventional lottery. Fuck both of them

>> No.50605106

>>50599491
>in america you are more likely to die from gunshot
like 1 in 3?

>> No.50605127

>>50605106
1 in 2 in Texas, 1 in 3 everywhere else

>> No.50605143

>>50595431
>For a paltry $3, you'd be stupid to not buy one ticket.
With this kind of life philosophy you'll spend your life wasting little sums over stupid things and it will adds up to a lot of money.

2 dollars isn't much but giving it away for a bet with terrible odds just so that you can get a cheap hopium high shows that you don't respect your money and therefore isn't cut to make it.

>> No.50605236
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50605236

>>50595319
I was going to do a reddit write up about how the lottery is laughably bad when you consider the utility of money. But it would be coming from someone who gave $5k to online findoms in 2022 so far, so I'll let you all waste $10 on this lottery.

>> No.50605312

>>50595319
It's the best investment you can, just DCA on the lottery.

Your $2 ticket could turn into 600million, that's a 300million x return in investment!

I have a $10 suicide stack on it, I'm going to the moon, my real life begins on friday.

>> No.50605338

>>50605236
Schloppy is that you? Has the discord been remade somewhere new?

>> No.50605364

>>50597167
The absolute state of this board

>> No.50605369

No seems to realize that the whole point of the lottery is a gram scheme of CERN and their ability to capture and execute time travelers
Why didn’t we hear about the future? Because some midwit cale back to tell himself the winning number, hence trapping the time traveler

>> No.50605375

>>50596466
I saw a movie with Bryan Cranston based on the old couple who figured out the math on the winfall lottery back then, the lottery commission knew about the math but didn't give a shit because it was still netting them millions even though the old couple and another group figured it out, they only phased out the game when an article about it came it because some attention whore blabbered about it.

>> No.50605392
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50605392

>>50597167

>> No.50605400

>>50605338
No, but you should introduce me to that Chad

>> No.50605431

>>50595366
Chances are 50/50 retard. Either you win or dont

>> No.50605472
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50605472

Your odds of winning the mega millions are 1 in 300,000,000

Your odds of being struck by lightning in your lifetime are 1 in 15,300

>> No.50605477

>>50600799
The license plate on the w203 indicates republic of ireland.

>> No.50605488

>>50596550
Not necessarily. Since the prize is divided among winners, the EV depends on how many people participate.

>> No.50605536

>>50605472
wouldn't you have to compare the odds of winning mega millions in your lifetime to getting struck by lighting in your lifetime?

it seems like you are playing around with numbers here and thats dangerous

>> No.50605807
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50605807

>>50605472
the odds of me giving a fuck are 1 in 1,000,000,000,000. Every other winner had almost no shot.

>> No.50607030

>>50595319
I don't get why Americans play their lottery, the odds are terrible

>> No.50607122

>>50595578
Two

>> No.50607153
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50607153

>>50599322

>> No.50607210

>>50595319
It’s all a scam. Every time this year right before the New York State fair the jackpot goes up. Then someone wins in a state that doesn’t require the person who won to reveal themselves.

AKA it’s a scam.

>> No.50607254
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50607254

>>50596561
yup
money laundering

>> No.50607306

>>50595319
Holy shit every mathematic probabilistic thread on /biz/ is the same. Retards can't stop arguing about the simplest of variations, but exactly the same retards in different threads say they are programmers netting $500K. How is this possible? I thought that developers know basic math.

>> No.50607562
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50607562

>>50596547

>10/10 in bongland

>> No.50607746

>>50595775
Wrong, I knew a woman who was a family friend who won $4 million in the state lottery when I was a kid. Of course she blew it all though.

>> No.50608445
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50608445

>>50597167

>wrong, it's either you win it, or you don't. 50% chance no matter how many tickets you buy

Welp, can't refute this logic.

Fuck it, Im going all in.