Powerball Mania

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   frantisek78posted 11 years ago

   It's interesting how people who never play the lotto normally insist on playing when they have a very miniscule chance of winning half a billion dollars, but would never consider buying a state lotto ticket that "only" pays out 2, 5, or 10 million dollars. I guess 5 million is just not enough incentive to got to the store and buy a ticket?

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   1. 60

      Abdul Wahaboneposted 11 years agoin reply to this

      Hi Frntisek78,
      i would suggest that you don't play lottery at all. i have seen lotto games, especially thai lotto. All these lottos just the same, it dosent matter if you play in a $10 lotto or a 10 Million lotto. I will tel you how.
      All these lotto games have this very important thing, they make you think that winning is so very lucky, they do this using friendly languages usually
      i will show you how
      lets say that i am running a lotto company whose tickets start from Thousand dollars.
      I would say, "Pick 6 numbers, if you get all correct and the numbers andmatch the random computer all generated series of numbers you get 10 million, if 5 or 4 correct,10 thousand, Its a win win game, why not give it a try"
      so if you calculate the probability of getting 5 correct digits, i am good at Statistical modelling and Probability, so i would go straight to probability,
      (5^5)/(10^6) = 1/64
      so there is a 1.6% chance of you getting 5 correct digits,
      Now think again, when you read the advertisement of the lotto company, you thought that you can win,
      Actually you have just 1.6% chance.
      
      Take my advice, lotto is just another way to waste money, better you invest in something.

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2. 60

   canarygirlposted 11 years ago

   I had to comment on this because I was one of those powerball mania people. I've never purchased a lottery ticket, but I bought at least 20 when the powerball skyrocketed. It's that "go big or go home" mentality. I thought, "well it's worth it now." But, after everything was said and done, I wished that I had put that cash in my piggy bank. I agree with Abdul's post (above).

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   1. 59

      andralynnRNposted 11 years agoin reply to this

      I have also been one of those powerball mania people. We usually get a group a work to go in on tickets. I always feel like i have to go in because i by some freak of nature they would win i dont want to be the only person showing up to work the next day. But i do agree with the previous posts. I should put my money in a savings acct.

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