Lottery: anyone here play?

When I worked in the office and the Powerball or whatever they called it got big and everyone chipped in for tickets I would too. I wasn't going to be the only one left in the office the next morning if they hit and I didn't chip in!
 
It's actually the other way around. Scratch offs have higher payouts than lottery tickets. They actually say that the higher value tickets like $20+ have higher payouts than the $1 tickets.

But it's sad when people play them too much. I remember one tenant I evicted, had boxes of scratch off tickets. Probably could have paid the rent if they didn't waste it on the scratch offs and I wouldn't have had to evict them. I think they save them so you can deduct the old tickets against your winnings.
A better odd is still a net negative / loss odd. The only way to win is to be the house.
 
Did AutoMechanic teach you this?
I think he saw it on TV.

I retired from a 1/01/22 from a company that produces pulltab and scratch off tickets for State Lotteries and Charities.
Trust me, the odds are not in your favor! Most are in the 62% payback range. Some higher, depending on the state and who is selling them.
That's probably why the odds at the Casino are better, higher payout rate. The casino around here typically has a promo where they give you $60 in match play in 3 $20 tickets. More often than not, I end up winning one out of three which is break even instead of 2 out 3 which happens once in a while.
 
I play when the PB or MM is over $300 million. I know the math is not in my favor. My rationale is the odds are roughly 300 million to one against me, so there has to be a potential dollar for every point.

I tell people it's not my retirement plan. But a sizeable win would be my early retirement plan.

It's a $2 dream, not life changing money.
It is better to make your millions , not win it.
 


I wouldn't blame the union, the general fund would cut the education / school funding by about the same amount the lottery bring in, so no net change, just a tax on the poor and desperate.
 
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I recall decades ago I was gifted fifty NH Lottery scratch tickets on my 50th birthday!

I won a whole two dollars! Plus I ended up with ganglion cysts from all the scratching. Thanks a lot!

One observation that cracks me up is people running out to get MegaMillions tickets
only when the jackpot eclipses 300 million. Because, if I would have won a measly 60 million that's just pocket change;
plus you have to take care of tens of those needy, pesky relatives camping out on your front lawn until the get a "taste" of your new found, albeit short-lived, wealth. You may only end up with $20 M in the bank. What can you buy with that? Home heating oil for the upcoming Winter?

Not worth the bother :)
 
On most of those games, buying one ticket vs. 100 gives you about the same relative statistical odds as buying a hundred. 100X a very small number is still a very small number.
 
I recall decades ago I was gifted fifty NH Lottery scratch tickets on my 50th birthday!

I won a whole two dollars! Plus I ended up with ganglion cysts from all the scratching. Thanks a lot!

One observation that cracks me up is people running out to get MegaMillions tickets
only when the jackpot eclipses 300 million. Because, if I would have won a measly 60 million that's just pocket change;
plus you have to take care of tens of those needy, pesky relatives camping out on your front lawn until the get a "taste" of your new found, albeit short-lived, wealth. You may only end up with $20 M in the bank. What can you buy with that? Home heating oil for the upcoming Winter?

Not worth the bother :)
That's an interesting observation considering that the cause of a ganglion cysts is unknown.

Yeah, 60 million is chump change these days, probably just take home 20 million if you do the lump sum after taxes and then once you pay the higher federal/state taxes later, probably just 15 million.

The basic logic is that if you've just got $2, you mind as well play it when the jackpot is larger, not smaller. The odds of winning are the same. Someone I know claims they prefer to play smaller jackpots because there's less of a chance of splitting it. The odds of multiple people winning is generally lower and even if you have to split a large jackpot, you'd probably still be ahead than if you were just a single winner on a small jackpot.

Lotteries are basically for entertainment value. But people can overdo it just like drinking, eating, spending money etc. They're basically zero sum games, I prefer non zero sum games like the stock market.
 
My company was legit. Winning tickets were randomly mixed in, none of us knew where they were shipped.
If fact, we or none of us in the household were allowed to play. But yes, that does sound suspicious.
Did you watch the NetFlix series on the McDonalds Monopoly scratch off scandal?
 
My company was legit. Winning tickets were randomly mixed in, none of us knew where they were shipped.
If fact, we or none of us in the household were allowed to play. But yes, that does sound suspicious.
That's the nature of things being random, you get random mixes that doesn't seem like it's random but that's how it works. Maybe it's like shuffling cards, wasn't randomized enough.
 
That's the nature of things being random, you get random mixes that doesn't seem like it's random but that's how it works. Maybe it's like shuffling cards, wasn't randomized enough.
Our company, many years ago, was actually approached by a potential customer to make tickets for them.

They wanted us to give them the winning tickets to place in the deals as they chose.
My company chose NOT to do business with them. (y)
 
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