21 thoughts on “If lottery tickets told the truth”
Around here, the lottery is referred to as the “Dumbmass” tax. Whatever is left over after the lottery commission gets done with a chunk of the proceeds goes to schools for tuition assistance, books, etc.
Richard – here in Illinois, the lottery earnings has replaced the state income tax that supported schools (well, partially supported since our property taxes does the lion’s share of support).
I like the bumper sticker that said “Lottery – a tax on people bad in math.”
those so called winners I see on TV – are they fake?
this guy just collected 166-mil for mega..
I don’t care what the odds are. When Powerball hits $200 million I throw away a buck. I’ve thrown away more on other things that would never pay off.
My cousin thinks it is real. He has made some fine investments and land purchases, he is not stupid. Everyday he averages $ii,000.00-15,000.00 in interest alone.
Cool KLAW. Glad to hear that. My wife went to school with a guy who won big. She was in the same class as his sister. Didn’t know him too well though.
The winners are the exception to the rule obviously. Your chances are awful, but somebody is going to win the jackpot…and you have as good a chance as the guy who wins.
He finally got his tractor with brakes, and then some. His son’s still work, he is an avid hunter and deer sausage maker. He bow hunts with Ted Nugent, man, I could tell you some stories. It did not go to his head, he is a genuine nice guy.
Whem Georgia first started its lottery back in the 90’s, the first big winner received over a million. When asked what he was going to do with all of that money, he said he was moving to Alabama and buying a double-wide mobile home. I guess everyone has their wish list!
Are you in Michigan, KLAW?
Sucker bet. Vegas pays out 75%-98% in winnings…the states pay out a fraction over 50%. The rest allegedly goes to education. Hahaha…yeah right…the schools ask for more and more tax money as well in each election, and cut services a year after getting it. Corruption in the state govts is epidemic. I see poor people using taxpayer-provided food stamps at the grocery store and then spending money they can ill-afford to spend on lotto…$10-20 @ day??…That’s $300-600 @ month. Maybe they wouldn’t be poor and living in public housing if they weren’t suckered in by the one guy who beat the 1-80,000,000 odds. $300-600 @ month would buy health insurance or rent or a house paymnent or a car payment. Or food. You have a WAY better chance of winning big at Vegas. Richard is right…even the guys in gov’t call it the Dumbass Tax. They’re laughing all the way to their beach house in the Bahamas.
My uncle was driving home once when he realized that he
A. Had forgotten his wallet
B. Tank was near empty
C. He would need 10 dollars of gas to get home
D. That he only had 5 dollars
So he gets the idea that he should spend the 5 dollars on scratch off that pays out 10. If he wins he has enough money to get home, if he loses well he wouldnt have had the money to get home anyhow and it would be better to call for help at a gas station then on the side of the highway. He does it and wins the 10 bucks needed to get home.
Gretal, Missouri.
DJ, I agree, it is known as a tax for the stupid. But Jonco pointed out, unless you win. I am in Vegas 3-4 times a year and stick with Blackjack, for the love of the game and the best odds.
DJ, you are quoting returns in slot play, perhaps you need to do a little research. Need a link?
LOL, if they paid out 75%- 98% on all games do you really think they would be in business?
DJ, I think you are a smart and funny dude. Most people take your words as gospel, not me. I love to read and research anything I can get my hands on. I am glad you guys hooked up in Atlanta, looks like it was a great time…I wish I could have joined you.
My understanding is that in MO the lottery money does actually go to education. The problem lies in the fact that the money that was previously going into education (from the general funs) was taken out for somethnig else, so there is no real gain in education funds.
Jonco, you are right on the money. The money for education is now coming from the MO. casinos, how much? I have no idea, but it is progress. Illinois is now in a battle with racetracks, I enjoy betting on the ponies at Fairmont but the place is going to the dogs. Allow slot machines in the fire trap and the business would boom.
Oklahoma lottery goes to education too. Somehow that just doesn’t make sense to me. I’m teaching my kids that gambling is wrong, yet someday they’ll find out that gambling is paying for their education. Well sort of. I don’t think it’s paying off like they hoped it would.
My stepbrother won $21 million, so I guess that people really do win. I buy a ticket or two every week, but I always look at it as money I’m wasting (much less money than my smoking and drinking friends waste on smokes and booze :))
Hmm…math. Buying 1 ticket increases your odds infinitely (from 0 to 1 in whatever). Buying a second ticked increases your odds a minuscule amount (1 in whatever to 2 in whatever). So…just buy 1 ticket for the greatest return!
its a win or loose situation – as long as you know the odds when you play then no need to be bitter…
Around here, the lottery is referred to as the “Dumbmass” tax. Whatever is left over after the lottery commission gets done with a chunk of the proceeds goes to schools for tuition assistance, books, etc.
Richard – here in Illinois, the lottery earnings has replaced the state income tax that supported schools (well, partially supported since our property taxes does the lion’s share of support).
I like the bumper sticker that said “Lottery – a tax on people bad in math.”
those so called winners I see on TV – are they fake?
this guy just collected 166-mil for mega..
I don’t care what the odds are. When Powerball hits $200 million I throw away a buck. I’ve thrown away more on other things that would never pay off.
My cousin thinks it is real. He has made some fine investments and land purchases, he is not stupid. Everyday he averages $ii,000.00-15,000.00 in interest alone.
http://www.powerball.com/powerball/winners/2003/070903mo.shtm
Cool KLAW. Glad to hear that. My wife went to school with a guy who won big. She was in the same class as his sister. Didn’t know him too well though.
The winners are the exception to the rule obviously. Your chances are awful, but somebody is going to win the jackpot…and you have as good a chance as the guy who wins.
He finally got his tractor with brakes, and then some. His son’s still work, he is an avid hunter and deer sausage maker. He bow hunts with Ted Nugent, man, I could tell you some stories. It did not go to his head, he is a genuine nice guy.
Whem Georgia first started its lottery back in the 90’s, the first big winner received over a million. When asked what he was going to do with all of that money, he said he was moving to Alabama and buying a double-wide mobile home. I guess everyone has their wish list!
Are you in Michigan, KLAW?
Sucker bet. Vegas pays out 75%-98% in winnings…the states pay out a fraction over 50%. The rest allegedly goes to education. Hahaha…yeah right…the schools ask for more and more tax money as well in each election, and cut services a year after getting it. Corruption in the state govts is epidemic. I see poor people using taxpayer-provided food stamps at the grocery store and then spending money they can ill-afford to spend on lotto…$10-20 @ day??…That’s $300-600 @ month. Maybe they wouldn’t be poor and living in public housing if they weren’t suckered in by the one guy who beat the 1-80,000,000 odds. $300-600 @ month would buy health insurance or rent or a house paymnent or a car payment. Or food. You have a WAY better chance of winning big at Vegas. Richard is right…even the guys in gov’t call it the Dumbass Tax. They’re laughing all the way to their beach house in the Bahamas.
My uncle was driving home once when he realized that he
A. Had forgotten his wallet
B. Tank was near empty
C. He would need 10 dollars of gas to get home
D. That he only had 5 dollars
So he gets the idea that he should spend the 5 dollars on scratch off that pays out 10. If he wins he has enough money to get home, if he loses well he wouldnt have had the money to get home anyhow and it would be better to call for help at a gas station then on the side of the highway. He does it and wins the 10 bucks needed to get home.
Gretal, Missouri.
DJ, I agree, it is known as a tax for the stupid. But Jonco pointed out, unless you win. I am in Vegas 3-4 times a year and stick with Blackjack, for the love of the game and the best odds.
DJ, you are quoting returns in slot play, perhaps you need to do a little research. Need a link?
LOL, if they paid out 75%- 98% on all games do you really think they would be in business?
DJ, I think you are a smart and funny dude. Most people take your words as gospel, not me. I love to read and research anything I can get my hands on. I am glad you guys hooked up in Atlanta, looks like it was a great time…I wish I could have joined you.
http://www.allvegasguide.com/strategy_odds_tips/
My understanding is that in MO the lottery money does actually go to education. The problem lies in the fact that the money that was previously going into education (from the general funs) was taken out for somethnig else, so there is no real gain in education funds.
Jonco, you are right on the money. The money for education is now coming from the MO. casinos, how much? I have no idea, but it is progress. Illinois is now in a battle with racetracks, I enjoy betting on the ponies at Fairmont but the place is going to the dogs. Allow slot machines in the fire trap and the business would boom.
Oklahoma lottery goes to education too. Somehow that just doesn’t make sense to me. I’m teaching my kids that gambling is wrong, yet someday they’ll find out that gambling is paying for their education. Well sort of. I don’t think it’s paying off like they hoped it would.
My stepbrother won $21 million, so I guess that people really do win. I buy a ticket or two every week, but I always look at it as money I’m wasting (much less money than my smoking and drinking friends waste on smokes and booze :))
Hmm…math. Buying 1 ticket increases your odds infinitely (from 0 to 1 in whatever). Buying a second ticked increases your odds a minuscule amount (1 in whatever to 2 in whatever). So…just buy 1 ticket for the greatest return!
its a win or loose situation – as long as you know the odds when you play then no need to be bitter…