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Is it worth it to play the lottery?

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Cornfed
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Re: Is it worth it to play the lottery?

Post by Cornfed » December 8th, 2017, 12:22 am

xiongmao wrote:
February 25th, 2015, 9:41 pm
The lottery is a complete waste of money. More people should do what I've been doing over the last 10 years, which is to put every spare penny into 5-25% paying investments. All those $2's do add up - my investment income now pays my mortgage. And I've done this on an average salary.
What investments would you recommend?

MrMan
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Re: Is it worth it to play the lottery?

Post by MrMan » December 8th, 2017, 10:00 am

Yeah, I'd like to put money in an investment that earns 25%. Where do we find such a thing? is it bitcoin by any chance?

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Zambales
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Re: Is it worth it to play the lottery?

Post by Zambales » December 8th, 2017, 10:08 am

MrMan wrote:
December 8th, 2017, 10:00 am
Yeah, I'd like to put money in an investment that earns 25%. Where do we find such a thing? is it bitcoin by any chance?
Gambling. Horses to be exact. God might not approve though. :wink:

MrMan
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Re: Is it worth it to play the lottery?

Post by MrMan » December 8th, 2017, 5:56 pm

Zambales wrote:
December 8th, 2017, 10:08 am
MrMan wrote:
December 8th, 2017, 10:00 am
Yeah, I'd like to put money in an investment that earns 25%. Where do we find such a thing? is it bitcoin by any chance?
Gambling. Horses to be exact. God might not approve though. :wink:
I've got two questions. One is, does this investment involve owning the horse or being the bookie?

Otherwise, if you earn 25%, how much do you lose? I'd imagine you could win 25%, but how much do you lose the other days of the week?

Certain types of minds can handle card counting in Vegas with a system that gives a 3% advantage at black jack, which makes sense mathematically after so many iterations, but I hear those people tend to get kicked out. I wouldn't encourage any of this kind of activity. The risks are still high.

mand38
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Re: Is it worth it to play the lottery?

Post by mand38 » December 8th, 2017, 11:53 pm

Tsar wrote:
February 18th, 2015, 2:01 am
Is it worth playing the Lucky for Life lottery game that was recently adjusted to have a better second prize. Tickets cost $2.

http://www.neluckyforlife.com/

Second Prize: $25,000 a year, FOR LIFE*
Odds of Winning Second Prize: 1 in 1,813,028

It's decent enough to live on annually in most HappierAbroad countries if won. I don't like the lottery because I know only the people running it truly profit and winning is almost impossible. Do you think it's worth playing a few tickets each week? I'm thinking it's money that's better saved but I'm not sure at this point because even an impossible chance might be worth taking.

If you ask me; not worth...

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Zambales
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Re: Is it worth it to play the lottery?

Post by Zambales » December 9th, 2017, 1:35 pm


I've got two questions. One is, does this investment involve owning the horse or being the bookie?
Betting on the horses but you need to some proper research before doing it for real in the form of paper trading
Otherwise, if you earn 25%, how much do you lose? I'd imagine you could win 25%, but how much do you lose the other days of the week?
Just say you wagered $1000 over a period of time, $250 would be your target if the system you paper traded previously had yielded 25%. The downside to this is that you can't predict your losing runs. It's never consistent but it should balance out eventually so long as you paper traded long enough and your stake remains the same.

25%+ is very difficult to achieve with horses but it is possible. 15% to 20% is more realistic. 5% to 10% is certainly achievable. You have to be disciplined and patient to be successful though. Otherwise you could be in real trouble.

There are other ways to skin a cat such as compounding but that's another story.

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