How many people here buy lottery tickets?

[akonobi]

I buy a powerball every single day.

[Joan.of.the.Arch]

Never have bought a lottery ticket. It just doesn't interest me.

[photo]

I've never purchased one and have no idea the difference between all the terms of lotto, powerball, and whatever else they're called.

[kv968]

I bought 3 lottery tickets this year. I'll buy one, maybe, if it goes over 200 million, then spend the day dreaming about all the things I'd be able to do if I won. Obviously I haven't won, but it's still a good time.

That's me. I probably buy 10 or 15 tickets a year if I notice the jackpot is high when I'm in the store. I figure for all the scenarios I can dream up for that $10-15, its worth it.

Actually I won $50 on a scratch-off that was given to me at Christmas. I think that's the most I ever won off of those things. Of course I'll be taking the cash and maybe just a MegaMillions or two just in case my luck has changed

[kv968]

That said, my wife and I do enjoy other forms of gambling, casinos specifically. Of course, the odds at a casino are phenomenally better than the odds of playing the lottery. The house edge on a game like blackjack is only a fraction of one percent. Even slot machines only have about a 6% house edge typically, far lower than the edge the state has in the lottery.

I like to go down to AC myself every now and then. The funny thing with me is I used to play blackjack all the time but now I find myself gravitating to the roulette wheel more. The game with THE worst odds going for you. I just find it fun and fascinating. Fascinating in the sense that although I'm no statistician my any means, I've taken my fair share of stat courses and I still sometimes think I can see "patterns" developing in the numbers. I know its statistically wrong but its hard to stop your brain from looking for them. The best thing the casinos did for themselves as far as that game is concerned is to put up that display showing the most recent numbers and what has hit the most. Helps with the "pattern recognition"

Since I only go about 2-3 times a year (actually only once this year) with "money I can lose" I don't mind but I have to get back into blackjack. With that said I think I'm probably still at or above breakeven with roulette. Just gotta know when to walk away.

[krantcents]

In California, there has been a lottery for approximately 25 years. I think I have spent no more than $20 during the entire time. I usually play when the prize is above $50 million. I will buy one ticket ($1), because that is all I am willing to lose.

[phantom]

I generally don't buy lottery tickets, reasoning that buying a ticket would not significantly increase my odds of winning. I know that technically one chance in a million is better than no chance, but they register the same on my chance meter. I like to think I've saved a couple hundred dollars by never getting together with a group of people at work when the get together to buy a bunch of tickets because the jackpot has hit some really high number.

I do have a weakness for scratch off tickets though. My grandma has been putting them in cards for me since I was a kid. When I was younger and a dollar had a bigger impact on my financial world, I would complain to my mom that I would rather just have the money. But, now that I'm an adult with my own income, and I don't mind missing out on dollar as much, I think the scratch offs are a good idea on my grandma's part. She gets an extra phone call from me when I call to tell her the result of the scratch off, and it makes her really happy when I actually win something.

[disneysteve]

Kind of a funny story...

I was at the casino last week. I sat down at a three card poker table, bought my chip's and put down my first bet. There is a bonus bet in that game that has lousy odds but big payouts (top payout is $1 million on a $5 bet). I did not make the bonus bet. The dealer stopped before dealing the hand to make sure I didn't forget my bonus bet since I was the only player at the table not doing it. I told him I didn't want to. He asked, "Do you play the lottery?" and I said no. He wasn't pushing it but wanted to make sure I knew what I was doing.

As it turned out, there were probably 2 or 3 hands during the whole time I was playing where I would have gotten a payout on the bonus bet and lots of hands when I wouldn't have. I wouldn't have come out ahead. Playing as I did, the more conservative way, I sat down with $200 and walked away with $380. I was okay with that.

[fe2o3ez]

I bought 3 lottery tickets this year. I'll buy one, maybe, if it goes over 200 million, then spend the day dreaming about all the things I'd be able to do if I won. Obviously I haven't won, but it's still a good time.

Yep. I only buy tickets after the pot reaches about $150MM or more. Because, you know, the $150MM/$5 return would mean more to me than a $40MM/$5 return, right? Only buy when it is convenient, though. Usually with others in the office.

[thekid]

I never understood why people would spend any significant amount of money to buy lottery tickets. The odds of winning remain for all practical purpuses unchanged whether you buy one ticket or a hundred or a thousand for that matter. It's a horrible way to spend any amount of money. You are statistically pretty much GARANTEED to never win the jackpot.

A dollar here or there if it entertains somebody is fine. It's like buying a soda or whatever. It's a little self endulging expense here or there. But there is no reason to actually buy more than one.

[thekid]

Yep. I only buy tickets after the pot reaches about $150MM or more. Because, you know, the $150MM/$5 return would mean more to me than a $40MM/$5 return, right? Only buy when it is convenient, though. Usually with others in the office.

This is another common practice that I don't understand. Is 50M$ not enough for you? With respect, I think the reasoning is off a bit. Any multi-million jackpot would be worth it. It's not the amount of the payoff that's the problem, it's the almost nil probability of winning.

[bjl584]

This is another common practice that I don't understand. Is 50M$ not enough for you? With respect, I think the reasoning is off a bit. Any multi-million jackpot would be worth it. It's not the amount of the payoff that's the problem, it's the almost nil probability of winning.

I rarely play the lottery. The only time I do is when everyone at work throws in $5 in a pool and buys tickets. The only time that an office pool for lottery tickets takes place is when the jackpot gets high, like $200 million or more. So, by me just follwing the herd and playing along with my coworkers, the only time that I buy lottery tickets is when everyone else happens to be. Which happens to be when the jackpot is high. To me $10 million would be no different really than $200, but I only happen to play when it's $200. So, I can see where the other poster is coming from. It's not about odds, it's just about when everyone at the office starts to play. Bigger jackpots entice people to play.

[thekid]

I rarely play the lottery. The only time I do is when everyone at work throws in $5 in a pool and buys tickets. The only time that an office pool for lottery tickets takes place is when the jackpot gets high, like $200 million or more. So, by me just follwing the herd and playing along with my coworkers, the only time that I buy lottery tickets is when everyone else happens to be. Which happens to be when the jackpot is high. To me $10 million would be no different really than $200, but I only happen to play when it's $200. So, I can see where the other poster is coming from. It's not about odds, it's just about when everyone at the office starts to play. Bigger jackpots entice people to play.

I do the same. Contribute a $20 once a year or whatever when somebody sets up a pool at work. It's more a "part of the team" expense than anything. I think playing for "fun" is fine. It's when one starts playing to win that problems come up. We should take it as a given that we will never win and treat it accordingly. My comment was with regards to the common reasoning that it's somehow more "worth it" when the jackpot is larger. It's not. The odds remain unchanged and at their level that's the only issue worth any consideration. It's a little cognitive mistake that loto operators exploit to sell more tickets.

[disneysteve]

The odds remain unchanged

In fact, in a way, the odds are actually better when the jackpot is lower. The odds of your particular numbers coming out remain the same but the higher the jackpot, the more tickets get sold and the higher the chances that there will be more than one winner. So you could end up winning but having to split that big jackpot (not that that would be such a bad thing ).

[thekid]

In fact, in a way, the odds are actually better when the jackpot is lower. The odds of your particular numbers coming out remain the same but the higher the jackpot, the more tickets get sold and the higher the chances that there will be more than one winner. So you could end up winning but having to split that big jackpot (not that that would be such a bad thing ).

lol, fantastic.

researching ticket sales stats, bet you can find a "sweet spot" where your earning (non)potential is usually maxed!