Reply to: Do you buy lottery tickets?

[BabyBoomer]

Dreams for sale

BrilloPad and Optimus have the right idea.

Lottery ticket is worth 50p once bought, then 0p after it is checked, plus whatever value you place on your daydreams about winning in the meantime.

To maximise this you should buy one ticket and hold it for 25 weeks before checking it, thus reducing the price of your dreams to 2p/week.

Simples!

Not so simple: you should also pick the least popular numbers (not the least frequent), so that you are less likely to have to share your prizes. These can be calculated, from the number of winners for each individual number over the last n years. However, this set will now be rendered useless by all the CUKers who will now rush out and pick these numbers. So the strategy needs to be adapted, eg by replacing one of the numbers for another.

Is there a Quants person out there who can devise an optimum strategy for this?

This is my plan C, but I don't mind sharing it with you.

[Zoiderman]

We need a tax on people too lazy and stupid to learn how to use an apostrophe.

The grammar pedantry is strong in this one

[Platypus]

We need a tax on people too lazy and stupid to learn how to use an apostrophe.

Shouldn't this be in the budget thread?

[Peoplesoft bloke]

Lottery is a tax on the stupid in the same way speed camera's are a tax on motorists, you have a choice not to pay.

We need a tax on people too lazy and stupid to learn how to use an apostrophe.

[d000hg]

In terms of expected returns, lottery tickets are probably slightly less daft than buying a brand new car?

I cannot remember if I ever bought a ticket myself. Maybe I will in honour of this thread... imagine the look on DP's face if one of us paupers won big!

[Zoiderman]

Bit of harmless fun. Mainly participate when the numbers look too tempting to avoid.

To be frank, watching those game shows when someone goes insane about winning £20k, I think 'would it really be worth it'? Not for me.

[Zoiderman]

Lottery is a tax on the stupid in the same way speed camera's are a tax on the stupid too, you have a choice not to buy lottery tickets and to not speed.

FTFY

[TimberWolf]

I've had £500 worth of Premium Bonds since 2004 (a gift) and have still haven't won a penny on them.

[oracleslave]

Missus spends about £10 every 2 months or so.

Never won a thing.

[Platypus]

You've got to be in it to win it !

A syndicate in my local pub won £70k. I hadn't given over my £2 that week.

A few years before, the landlord won £90k

Those bus drivers who won £36m are less than a bus ride away from me.


Yes, I do buy tickets. As I approach a certain age, I know now that I won't get rich through my own endeavours. So it's a bit of fun that allows me to dream. And no amount of calling me stupid on here will make me change

[Scrag Meister]

I usually spend £10-£20 when the Euromillions gets > a lot or there's a decent Rollover. Don't bother otherwise. I don't intellectualise it, it's only a bit of fun.

WLS.

Last time I bought Euromillions tickets was when those fat pykies in Largs won £161M.

Has to be a super huge rollover for me to be interested.

I know the odds are ridiculous, but once in a while it doesn't hurt. Not like £20 is most of my weeks benefits is it.

[Old Greg]

My mate always has a little dig at the people in front of him queuing in front of him to pay their stupid tax while he's waiting to buy his fags.

[d000hg]

Lottery is a tax on the stupid in the same way speed camera's are a tax on motorists, you have a choice not to pay.

That's a daft analogy, with speed cameras you don't find one person gets rewarded with the fines from others... over 50% of the lottery money goes to prizes so it's more a redistribution of wealth.

[Optimus Prime]

It does give you something to look forward to and dream about, perhaps with your spouse. That's got to be worth a bit.

[Lockhouse]

I usually spend £10-£20 when the Euromillions gets > a lot or there's a decent Rollover. Don't bother otherwise. I don't intellectualise it, it's only a bit of fun.