Post: #1

Anyone play it? I was going to plunk down $10 but was 30 minutes too late. Oh well, was planning on giving each of you $100,000 from the winnings.

Post: #2

As the quote goes, "lottery is a tax on people who can't do math"

Post: #3

I plunk down a few dollars every time it gets into the few hundred million range.

If I were to win, it would certainly render my unemployment filing on Monday obsolete.

Post: #4

(11-29-2012 12:11 AM)storm Wrote:  As the quote goes, "lottery is a tax on people who can't do math"

There is a big difference between paying out twenty, thirty, fifty dollars every week for lottery tickets and buying a couple-few tickets every time the jackpot gets over $100 million. The six bucks I spent on Powerball tickets was me purchasing a few hours of pleasurable daydreaming.

Post: #5

(11-29-2012 12:11 AM)storm Wrote:  As the quote goes, "lottery is a tax on people who can't do math"

I've always thought that saying was bullshit, since I knew two different people who won the lottery semi-big. Note the use of the past tense.

Plus, it's not you're putting your life savings on the lottery. You're putting a infinitesimal percentage of your net-worth into it. As far as "taxes" go, it'd be the smallest one around.

Post: #6

1. Alcohol is a tax on people who can't relax on their own.
2. Sex is a tax on people who can't jerk off effectively.
3. Drugs are a tax on people who can't hallucinate on their own.

You get my point.

Post: #7

Aren`t lottery winnings in the USA taxed? How much would the person actually get after taxes?

Post: #8

(11-29-2012 12:39 AM)scotian Wrote:  Aren`t lottery winnings in the USA taxed? How much would the person actually get after taxes?

I'm sure it varies on a state by state basis, as different states have different income tax brackets. But you can bet at least half of your winnings are going to the government at every level, federal, state, and local.

Post: #9

(11-29-2012 12:39 AM)scotian Wrote:  Aren`t lottery winnings in the USA taxed? How much would the person actually get after taxes?

Yeah, taxed. I think the lump sum payout for 1 winner would be around $350 million. Then on that you get the tax hit. So you'd actually get around half the advertised jackpot. Govt wins big. Still that jackpot was worth $10 to me since I almost never play the lottery... just 3 times in my life.

Post: #10

(11-29-2012 12:36 AM)Tuthmosis Wrote:  1. Alcohol is a tax on people who can't relax on their own.
2. Sex is a tax on people who can't jerk off effectively.
3. Drugs are a tax on people who can't hallucinate on their own.

Post: #11

I bought one ticket since it's the only bet that makes mathematical sense (I would take the cash option).

Odds of winning: 1:~175,000,000
Odds on your money: 1:~180,000,000 (cash option, assuming no split)

Therefore, buying one ticket makes sense from a gambling standpoint because you are getting better money than your odds. However, you have people that play no matter what (typically poor and un/under educated). Then you have people that will plunk down $5-20 bucks when the jackpot gets over a certain number ($100M). However, this is stupid as you can see from the math above. Sure, any jackpot hit will change your life forever. However, the math shows that it is almost never a wise decision. As Storm pointed out, the lotto is a tax on people who can't do math.

Post: #12

Yeah..i was waiting for this thread to pop up lol

Post: #13

All you need is a dollar (2) and a dream!

Post: #14

(11-29-2012 12:34 AM)j r Wrote:  

(11-29-2012 12:11 AM)storm Wrote:  As the quote goes, "lottery is a tax on people who can't do math"

The six bucks I spent on Powerball tickets was me purchasing a few hours of pleasurable daydreaming.

That's pretty much how I see it.

Then there's the bonus of bringing those dreams to life if I am the one-in-many-millions winner.

Post: #15

(11-29-2012 12:11 AM)storm Wrote:  As the quote goes, "lottery is a tax on people who can't do math"

It's actually possible to play the lottery and statistically expect to make a profit. The math behind it is pretty interesting. Every so often, people will rediscover this.

If you know a million people, the odds of knowing two people who have won the jackpot is less than 10^-10 - you're twenty times more likely to draw a royal flush from the first five cards of a deck - twice in a row. However, if you pick your tickets cleverly (maybe jr was suggesting this?) you can stand to make money.

The problem is that then people come at you with pitchforks.

Post: #16

Just bumping this thread to let everyone know that tomorrow's (Weds 13 Jan 2016) Powerball Lottery is now over $1,500,000,000.00

That is correct One point Five BILLION US Dollars... winner takes all...

https://en.wikipedia.org/wiki/Powerball

Post: #17

(11-29-2012 12:11 AM)storm Wrote:  As the quote goes, "lottery is a tax on people who can't do math"

Let's do some math:

If you don't play, your odds of winning are zero.

If you do play, your odds of winning are above zero.

By what percentage have you increased your odds, simply by joining the game?

The opportunity cost for one chance is very small. What is $5-$10 per year and 15 minutes really going to cost you?

Of course, spending more increases your odds infinitesimally, so don't spend more than the bare minimum. But why not at least ante up when the jackpot is really big?

Post: #18

If nobody wins will it be $3 billion? Does it double every time no one wins?
I like counting chickens before they hatch, but at $2 a pop the fun seems too pricey.

Post: #19

It's a "Stupid Tax"

Wouldn't it make more sense to buy tickets for the drawing right after a big win like this one? If you think about it, with $1.5B on the line EVERYONE is buying tickets, and once someone wins it, Most people aren't going to be playing anymore because it's now reset to a "Measly" few Million dollars.
I think I'd rather take higher odds on...say $3M, than ridiculously small odds on $1.5B

Post: #20

(01-13-2016 01:42 AM)Skull_Leader Wrote:  It's a "Stupid Tax"

Wouldn't it make more sense to buy tickets for the drawing right after a big win like this one? If you think about it, with $1.5B on the line EVERYONE is buying tickets, and once someone wins it, Most people aren't going to be playing anymore because it's now reset to a "Measly" few Million dollars.
I think I'd rather take higher odds on...say $3M, than ridiculously small odds on $1.5B

The odds are the same at winning whether there are 2 people playing or 500 million playing. The only thing that changes is the payout odds.

Post: #21

(01-12-2016 11:45 PM)Blaster Wrote:  

(11-29-2012 12:11 AM)storm Wrote:  As the quote goes, "lottery is a tax on people who can't do math"

Let's do some math:

If you don't play, your odds of winning are zero.

If you do play, your odds of winning are above zero.

By what percentage have you increased your odds, simply by joining the game?

The opportunity cost for one chance is very small. What is $5-$10 per year and 15 minutes really going to cost you?

Of course, spending more increases your odds infinitesimally, so don't spend more than the bare minimum. But why not at least ante up when the jackpot is really big?

The chances of winning are 1 in 175,000,000.
So going off of that, if the potential payout is $1.5 billion, then each lottery ticket is worth an average of $8.57, but since after taxes the lump sum payout is only around $650,000,000, they're actually only worth an average of $3.71, which is still more than the $2 they cost.

So it's not really a stupid tax anymore, plus it's fun so you might as well buy a couple.

Post: #22

Fuck these losers that win the lottery. I can't name a single lottery winner. That's pathetic. You'd think someone by now would've done something memorable.

So here's what i'd do.

500M after tax

Buy
-1k acre freehold island in asia
-Set up modeling agency of 1M Limit in each country: Brazil, Colombia, Russia, Ukraine, Japan, USA
-Each Finalist gets 20K, 25 finalists from each country
-Fly each contestant to private island, bang each one
-Award 500K to winner

1M a year for improvements on island and shipments in of 9/10s

-Set up Pussy Paradise Hotel on island for Roosh brothers

-Set up long term residence for tier 1 cats.

-Try and set up independent country, pussy paradise obviously

-stock away 400m in dividend accounts to pay for expenses on my island

-Sit back, bang 9/10's daily, read roosh data sheets from the around the world, and plan my next trip

Post: #23

shane, that sounds like p4p, for the shipments of 9/10s and the pussy paradise hotel.

If you want to set up a model agency, absolutely do it. Tell the best looking girls that they will have to fuck you to get the best jobs. That's par for the course in this industry. If they do bang, you can send them out on jobs or not, if you think they will make your company money, use them.

Post: #24

(01-13-2016 02:09 AM)captain_shane Wrote:  Fuck these losers that win the lottery. I can't name a single lottery winner. That's pathetic. You'd think someone by now would've done something memorable.

So here's what i'd do.

500M after tax

Buy
-1k acre freehold island in asia
-Set up modeling agency of 1M Limit in each country: Brazil, Colombia, Russia, Ukraine, Japan, USA
-Each Finalist gets 20K, 25 finalists from each country
-Fly each contestant to private island, bang each one
-Award 500K to winner

1M a year for improvements on island and shipments in of 9/10s

-Set up Pussy Paradise Hotel on island for Roosh brothers

-Set up long term residence for tier 1 cats.

-Try and set up independent country, pussy paradise obviously

-stock away 400m in dividend accounts to pay for expenses on my island

-Sit back, bang 9/10's daily, read roosh data sheets from the around the world, and plan my next trip

I actually hope you'd win.

Post: #25

I don't understand people who drop 50-100 bucks every time the jackpot gets huge. Do you really think increasing your odds from 1:300,000,000 to up to 50:300,000,000 is going to make a difference? If you're lucky enough to win the lottery instead of all the more likely outcomes of getting stuck by lightning multiple times or getting bit by a shark in Nebraska, I'm sure a $2 investment will do.

Since it's my birthday I'm going to go drop two bucks on a set of numbers. When I win, I'll set up free condoms for life for all gold members.