Lotteries and possibility vs. probability - page 10.

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Quote from: BenCodie on October 30, 2023, 05:06:37 PM

Quote from: Porfirii on June 23, 2023, 12:22:41 PM

I have recently read an interesting essay on this topic, but it was already explained it to me a few years ago.

The thesis would consist that, although the probability of winning classical lotteries is near zero (typically between 0.0000007% in the case of Euromillions and 0.000003% in the case of national lotteries), people is willing to pay an excessive overprice because they are buying the right to dream about the possibility of winning.

Although there are extreme cases that get addicted to lotteries, this is quite uncommon if I'm not wrong, because, if you are not paying for the probability but for the possibility, a bet of 1 USD is enough to buy said possibility.

On the other hand, national lotteries are known to be "taxes on ignorance of mathematics", but if these revenues financed public expenses that revert to the common good: would you agree to pay systematically 1 USD more in your annual taxes as something that ensures the right to dream of a dear life of every taxpayer?

The right to dream? Everyone already has it! Just go to bed Wink

The tax for those ignorant of the maths, that's more like it. I would pay that amount if it weren't additional to existing taxes. Otherwise, what's the point in feeding the machine?

Overall the lottery is the government's profit baby. Casino have their games of chance and skill, while governments use the lottery to profit from the dreams of people...99.9999%+ of these dreams never come true.

People should something need to realize.

Speaking of chances then as long it wont really be dropping to 0% then they would reallybe trying out to get that 0.000001% chance of winning the lottery and realistically speaking on which
we do really even having those daydreaming on buying things that we do which it is really just that a normal kind of approach and this what makes things that people would really be that delusional
or being that too optimistic when it comes to things specially on winning that huge jackpot. We do already have those plans and divisions into that winning amount. Also, people should really be needing to
realize that if the jackpot prize is ex. $100M then it would be still on gross, you would be most likely be ending up on getting 65-75M in total due to tons of deductions.
So it isnt really that shocking anymore.

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Quote from: Porfirii on June 23, 2023, 12:22:41 PM

I have recently read an interesting essay on this topic, but it was already explained it to me a few years ago.

The thesis would consist that, although the probability of winning classical lotteries is near zero (typically between 0.0000007% in the case of Euromillions and 0.000003% in the case of national lotteries), people is willing to pay an excessive overprice because they are buying the right to dream about the possibility of winning.

Although there are extreme cases that get addicted to lotteries, this is quite uncommon if I'm not wrong, because, if you are not paying for the probability but for the possibility, a bet of 1 USD is enough to buy said possibility.

On the other hand, national lotteries are known to be "taxes on ignorance of mathematics", but if these revenues financed public expenses that revert to the common good: would you agree to pay systematically 1 USD more in your annual taxes as something that ensures the right to dream of a dear life of every taxpayer?

The right to dream? Everyone already has it! Just go to bed Wink

The tax for those ignorant of the maths, that's more like it. I would pay that amount if it weren't additional to existing taxes. Otherwise, what's the point in feeding the machine?

Overall the lottery is the government's profit baby. Casino have their games of chance and skill, while governments use the lottery to profit from the dreams of people...99.9999%+ of these dreams never come true.

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Quote from: slapper on October 30, 2023, 07:37:30 AM

Investments and gambling are not the same thing at all, not even close. Individuals frequently mix up the two, which is a grave error that must be corrected! Now, you're really getting into the core of compound interest when you discuss little sums of money building up over time. Its quite powerful! Indeed, its common - very common - to believe that insignificant sums of money dont matter, yet they actually do!

Speaking of food and drink, let me just add that I adore both. I mean, really, I adore them. We spend money on food and drink because they are very necessary. What about gambling? Thats a significant decision to make. And decisions have repercussions, my friend. Thus, always, always be aware of your actions, particularly when money is involved

Dont know on why there are really people on who cant really be able to make some differentiation in between gambling and investment on which it is really just that pretty obvious if we do speak about differences but there are ones who do really love on trying out to make things to be that just on the same and just like you said that this is where errors and mistakes do really happen on the time that
they would really be engaging. Just like on whats been clarified or simply just having those simple understandings that betting on lottery or buying a ticket is never been that an investment and it would never be. This is a form of gambling game on which you would really be just needing on betting on different numbers and would really be hitting up those different combinations on which you could really be able to hit up those life changing amounts.

It do really just turn out that those winning odds is really just that close to impossible on which it would really be having no point if you do really just that make yourself that
too positive on the time you do make out bets. It cant really be just that too easy on hitting up those spots in the first place. So better not to make yourself that
too optimistic most of the time.

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Quote from: michellee on October 30, 2023, 10:46:50 AM

Quote from: lienfaye on October 29, 2023, 10:34:41 PM

Quote from: Odusko on October 29, 2023, 05:39:12 PM

Lotteries are games of chance and luck and in every 100 lottery ticket buyers, 99 will lose and only 1 can be lucky to win, this is how hard the lottery is to win and that is why i personally view and take the lottery as the most real gambling since everything entirely depends on luck and nothing else and at some point we have to be proactive in some of the approaches we conceive around all of this things and how best we allow them to interfere with what we do most times and how we select our lottery tickets number and our expectations around it.

This is the reason why everytime I buy lottery ticket (because I have numbers in mind) I consider it as a throw away money since the chance to win is close to impossible. However, even that is the case it's not a pain to try our luck especially the ticket is not expensive to have a regret if you didn't win, well at least you try. Therefore it's not really a waste that we buy ticket instead of buying food, because you'll never know what's going to happen and who knows your bought ticket might change your life. Just don't get your hopes high.

Buying lottery tickets is just for fun and we don't have much hope of being the winner. We know that to be a winner on a lottery ticket requires great luck so that we can eliminate other gamblers. And there will be time to wait until our number comes out.

If we just had fun buying lottery tickets, maybe we could be the winner but it's still unlikely. It is true that in buying lottery tickets, we must use money that we are willing to use for gambling. This is so that we don't get disappointed because we had hoped too much to be the winner.

And let it be if there are people who buy lottery tickets in large quantities. Maybe they already have their calculations for buying that lottery ticket. What is certain is that the lottery requires luck to win.

Yup, I also buy lottery ticket for fun, like 1 out of 5 million chance to win. Just like every other say. Gamble responsible, if you dont have money then don’t try or do it. Here in our country, lottery now is so suspicious. Like every week there’s a winner? Like how? It looks like there’s an inside job.

If you want to play, just play. Don’t put any feelings when you gamble your money.

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Quote from: lienfaye on October 29, 2023, 10:34:41 PM

Quote from: Odusko on October 29, 2023, 05:39:12 PM

Lotteries are games of chance and luck and in every 100 lottery ticket buyers, 99 will lose and only 1 can be lucky to win, this is how hard the lottery is to win and that is why i personally view and take the lottery as the most real gambling since everything entirely depends on luck and nothing else and at some point we have to be proactive in some of the approaches we conceive around all of this things and how best we allow them to interfere with what we do most times and how we select our lottery tickets number and our expectations around it.

This is the reason why everytime I buy lottery ticket (because I have numbers in mind) I consider it as a throw away money since the chance to win is close to impossible. However, even that is the case it's not a pain to try our luck especially the ticket is not expensive to have a regret if you didn't win, well at least you try. Therefore it's not really a waste that we buy ticket instead of buying food, because you'll never know what's going to happen and who knows your bought ticket might change your life. Just don't get your hopes high.

Buying lottery tickets is just for fun and we don't have much hope of being the winner. We know that to be a winner on a lottery ticket requires great luck so that we can eliminate other gamblers. And there will be time to wait until our number comes out.

If we just had fun buying lottery tickets, maybe we could be the winner but it's still unlikely. It is true that in buying lottery tickets, we must use money that we are willing to use for gambling. This is so that we don't get disappointed because we had hoped too much to be the winner.

And let it be if there are people who buy lottery tickets in large quantities. Maybe they already have their calculations for buying that lottery ticket. What is certain is that the lottery requires luck to win.

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Quote from: Odusko on October 29, 2023, 05:39:12 PM

Lotteries are games of chance and luck and in every 100 lottery ticket buyers, 99 will lose and only 1 can be lucky to win, this is how hard the lottery is to win and that is why i personally view and take the lottery as the most real gambling since everything entirely depends on luck and nothing else and at some point we have to be proactive in some of the approaches we conceive around all of this things and how best we allow them to interfere with what we do most times and how we select our lottery tickets number and our expectations around it.

Yes, luck has a big influence in winning lottery bets in fact most people are unable to win the lottery in just one or two purchases some even buy lottery tickets for months every day but haven't won.
We will never know when luck will come and it can be support for winning bets but there are at least several ways that every gambler always uses to bring luck closer.

Not few gamblers believe they can win the lottery through superstition or mystical means but this has not been proven so luck remains the number one aspect in winning.
Most gamblers who like to buy their lottery tickets can be very patient in waiting for their luck but when they get big win then all their patience and waiting will pay off.

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Quote from: Oilacris on October 29, 2023, 09:57:42 PM

Quote from: khaled0111 on October 29, 2023, 04:50:44 PM

Quote from: Fivestar4everMVP on October 27, 2023, 09:37:17 AM

When comparing money spent on coffee to that spent on lottery tickets, I can personally say that I perceive money spent on buying lottery tickets as money kind of invested because there is a chance of good profit if the buyer is lucky.
But money spent on buying a coffee is like money thrown away, as there is no chance of making any profit from such money, aside the enjoyment and pleasure felt while drinking the coffee, outside of this, that money is like money thrown inside a toilet since the coffee will eventually be pissed out.

Are you for sure!? If we are going to apply your logic then we can say anything we drink or eat is a waste of money as it's going to be throwing away eventually. Do you suggest that we should stop drinking coffee, beers. and eating donuts, pizzas. because it's a waste of money and instead we should use that money to buy lottery tickets? I hope I got you wrong here!

Also,its never been that considered to be an investment just like as mentioned on which it is really that clearly that guy above doesnt really know on what gambling is and its never been that considered to be an investment. Lets say the amount of money is really just that small for you to worry on but still if it would be accumulated overtime then it would really be that significant and this is something
that is very normal. This is why it would really be that important that you should really know on what to do and how much you would really be allocating for buying tickets.
Why would really be tending to dragged about eating food and drinking something yet this had been a normal stuff in our lives and has nothing to do with gambling.
We do of course be spending on something like this.

Investments and gambling are not the same thing at all, not even close. Individuals frequently mix up the two, which is a grave error that must be corrected! Now, you're really getting into the core of compound interest when you discuss little sums of money building up over time. Its quite powerful! Indeed, its common - very common - to believe that insignificant sums of money dont matter, yet they actually do!

Speaking of food and drink, let me just add that I adore both. I mean, really, I adore them. We spend money on food and drink because they are very necessary. What about gambling? Thats a significant decision to make. And decisions have repercussions, my friend. Thus, always, always be aware of your actions, particularly when money is involved

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Quote from: tusandii on October 26, 2023, 12:20:19 PM

Quote from: mak013 on October 26, 2023, 07:14:17 AM

Quote from: tusandii on October 25, 2023, 01:13:05 PM

Quote from: mak013 on October 25, 2023, 03:28:53 AM

Quote from: paxmao on October 23, 2023, 07:04:41 PM

-snip-

However, I have a different opinion when someone has nothing wrong with spending a small part of their money to buy lottery tickets such as $0.1 to buy 5 tickets or 10 tickets and that is not a big number for everyone and it would be better to do it only when you have money but according to I think everyone can afford to have $1 every day and there is no problem losing $1 to try their luck at getting the jackpot from the lottery.
We will never know when we will be lucky and buying lottery tickets with the smallest amount will not make us poor as long as we can consistently think that this is just an attempt to get lucky.

It is just testing luck. There is no problem, when you have an opportunity to spend this $1. But if you have to choose to buy bread or lottery ticket - it is not a good time for testing luck.
And, the same time i don`t think that it is a clever decision to believe that you can become the winner between 10.000.000 people. I`d prefer to buy coffee.

I can respect your opinion because everyone has a different point of view and even if you prefer to buy coffee rather than buying a lottery ticket, that's a wise decision, but for me personally, luck will come to someone who is willing to try, even though the chance of winning is very small, but we everyone doesn't know when luck will come so I keep buying small amounts but can still buy coffee and enjoy this sensation.

Yes, anyone who tries to buy or avoid lotteries from any position is right. No one should be looked down upon here. Because no one can guarantee. There is no guarantee that fate will ever favor. But many people try to keep themselves among the lucky ones. Everyone buys lottery tickets with the intention that even if the odds are slim, if luck favors them, their lives could change. I am sure that no one who buys a lottery ticket ever thinks that he will win the lottery especially the lotteries that have big prizes or jackpots. Those who buy lottery are optimistic and those who drink coffee with the lottery budget they are conscious.

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Quote from: Odusko on October 29, 2023, 05:39:12 PM

Lotteries are games of chance and luck and in every 100 lottery ticket buyers, 99 will lose and only 1 can be lucky to win, this is how hard the lottery is to win and that is why i personally view and take the lottery as the most real gambling since everything entirely depends on luck and nothing else and at some point we have to be proactive in some of the approaches we conceive around all of this things and how best we allow them to interfere with what we do most times and how we select our lottery tickets number and our expectations around it.

It will be more realistic if you say that win ticket is one in every 100.000. So, if it gives emotions - it is interesting enough(i don`t believe in the win with such chances, so i don`t buy tickets for myself), but if the purpose is to get money - it is a problem i think. It is true for all gambling i think - when you ready to lose money for emotions - it is exciting, but when you begin trying get stable profit - it becomes a job with big chances to lose.

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Quote from: Odusko on October 29, 2023, 05:39:12 PM

Lotteries are games of chance and luck and in every 100 lottery ticket buyers, 99 will lose and only 1 can be lucky to win, this is how hard the lottery is to win and that is why i personally view and take the lottery as the most real gambling since everything entirely depends on luck and nothing else and at some point we have to be proactive in some of the approaches we conceive around all of this things and how best we allow them to interfere with what we do most times and how we select our lottery tickets number and our expectations around it.

This is the reason why everytime I buy lottery ticket (because I have numbers in mind) I consider it as a throw away money since the chance to win is close to impossible. However, even that is the case it's not a pain to try our luck especially the ticket is not expensive to have a regret if you didn't win, well at least you try. Therefore it's not really a waste that we buy ticket instead of buying food, because you'll never know what's going to happen and who knows your bought ticket might change your life. Just don't get your hopes high.

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Quote from: khaled0111 on October 29, 2023, 04:50:44 PM

Quote from: Fivestar4everMVP on October 27, 2023, 09:37:17 AM

When comparing money spent on coffee to that spent on lottery tickets, I can personally say that I perceive money spent on buying lottery tickets as money kind of invested because there is a chance of good profit if the buyer is lucky.
But money spent on buying a coffee is like money thrown away, as there is no chance of making any profit from such money, aside the enjoyment and pleasure felt while drinking the coffee, outside of this, that money is like money thrown inside a toilet since the coffee will eventually be pissed out.

Are you for sure!? If we are going to apply your logic then we can say anything we drink or eat is a waste of money as it's going to be throwing away eventually. Do you suggest that we should stop drinking coffee, beers. and eating donuts, pizzas. because it's a waste of money and instead we should use that money to buy lottery tickets? I hope I got you wrong here!

Also,its never been that considered to be an investment just like as mentioned on which it is really that clearly that guy above doesnt really know on what gambling is and its never been that considered to be an investment. Lets say the amount of money is really just that small for you to worry on but still if it would be accumulated overtime then it would really be that significant and this is something
that is very normal. This is why it would really be that important that you should really know on what to do and how much you would really be allocating for buying tickets.
Why would really be tending to dragged about eating food and drinking something yet this had been a normal stuff in our lives and has nothing to do with gambling.
We do of course be spending on something like this.

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Lotteries are games of chance and luck and in every 100 lottery ticket buyers, 99 will lose and only 1 can be lucky to win, this is how hard the lottery is to win and that is why i personally view and take the lottery as the most real gambling since everything entirely depends on luck and nothing else and at some point we have to be proactive in some of the approaches we conceive around all of this things and how best we allow them to interfere with what we do most times and how we select our lottery tickets number and our expectations around it.

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Quote from: khaled0111 on October 29, 2023, 04:50:44 PM

Are you for sure!? If we are going to apply your logic then we can say anything we drink or eat is a waste of money as it's going to be throwing away eventually. Do you suggest that we should stop drinking coffee, beers. and eating donuts, pizzas. because it's a waste of money and instead we should use that money to buy lottery tickets? I hope I got you wrong here!

I also don't agree with his opinion, we shouldn't compare the lottery with the need for food and drink, I also don't agree that he considers the lottery as an investment even though you think the lottery will have the opportunity to get high profits. However, imagine if you had wasted buying lottery tickets instead of buying food, you might never win high profits from the lottery compared to the capital you spent buying the lottery.

I also buy the lottery but I don't prioritize all my funds to buy the lottery, the game doesn't guarantee you will win and can't even recover your losses, so I buy the lottery if I have remaining funds from buying coffee and food.

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Quote from: Fivestar4everMVP on October 27, 2023, 09:37:17 AM

When comparing money spent on coffee to that spent on lottery tickets, I can personally say that I perceive money spent on buying lottery tickets as money kind of invested because there is a chance of good profit if the buyer is lucky.
But money spent on buying a coffee is like money thrown away, as there is no chance of making any profit from such money, aside the enjoyment and pleasure felt while drinking the coffee, outside of this, that money is like money thrown inside a toilet since the coffee will eventually be pissed out.

Are you for sure!? If we are going to apply your logic then we can say anything we drink or eat is a waste of money as it's going to be throwing away eventually. Do you suggest that we should stop drinking coffee, beers. and eating donuts, pizzas. because it's a waste of money and instead we should use that money to buy lottery tickets? I hope I got you wrong here!

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Quote from: tusandii on October 26, 2023, 12:20:19 PM

Quote from: mak013 on October 26, 2023, 07:14:17 AM

Quote from: tusandii on October 25, 2023, 01:13:05 PM

Quote from: mak013 on October 25, 2023, 03:28:53 AM

Quote from: paxmao on October 23, 2023, 07:04:41 PM

-snip-

However, I have a different opinion when someone has nothing wrong with spending a small part of their money to buy lottery tickets such as $0.1 to buy 5 tickets or 10 tickets and that is not a big number for everyone and it would be better to do it only when you have money but according to I think everyone can afford to have $1 every day and there is no problem losing $1 to try their luck at getting the jackpot from the lottery.
We will never know when we will be lucky and buying lottery tickets with the smallest amount will not make us poor as long as we can consistently think that this is just an attempt to get lucky.

It is just testing luck. There is no problem, when you have an opportunity to spend this $1. But if you have to choose to buy bread or lottery ticket - it is not a good time for testing luck.
And, the same time i don`t think that it is a clever decision to believe that you can become the winner between 10.000.000 people. I`d prefer to buy coffee.

I can respect your opinion because everyone has a different point of view and even if you prefer to buy coffee rather than buying a lottery ticket, that's a wise decision, but for me personally, luck will come to someone who is willing to try, even though the chance of winning is very small, but we everyone doesn't know when luck will come so I keep buying small amounts but can still buy coffee and enjoy this sensation.

We all have different opinions to lottery games and some peeps will always see lottery as a no option for them because this is mostly badsed on luck and it's not something that we need to be skilled for us to make profits. Results are mostly selected form random of so many numbers. This like of bet is not always certain for us to make profits and I think that is the reasons why some persons thinks that lottery is not the best for them. If he decided to use his fund to buy coffee or something else rather than betting on lottery then the reason is best known to him.

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Quote from: Fivestar4everMVP on October 27, 2023, 09:37:17 AM

Quote from: tusandii on October 26, 2023, 12:20:19 PM

-snip-

You are right and I completely agree with you, it is good to drink coffee, but even while at it, we can as well but some lottery tickets, for we never can tell what will happen through those tickets.

When comparing money spent on coffee to that spent on lottery tickets, I can personally say that I perceive money spent on buying lottery tickets as money kind of invested because there is a chance of good profit if the buyer is lucky.
But money spent on buying a coffee is like money thrown away, as there is no chance of making any profit from such money, aside the enjoyment and pleasure felt while drinking the coffee, outside of this, that money is like money thrown inside a toilet since the coffee will eventually be pissed out.

Finally there is someone who can understand what I am saying and that is what I mean as you explained and in conclusion it is only possible that the luck of getting a jackpot from togle is very small or almost impossible due to many factors such as manipulation etc but we must not forget that this is done automatically fun or just trying your luck and gambling is about luck, it would not be possible to suddenly have large amounts of money come to us without doing anything, isn't that right?
So buying a lottery ticket like this as some people say here is like a small investment and if we are lucky we will get the jackpot rather than doing nothing or just buying coffee but having the desire to get a large amount of money which won't happen when we just buy food or drinks.

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Quote from: GiftedMAN on October 26, 2023, 06:59:50 PM

Buying a lottery tickets can be profitable if we have the luck that will keep us going. Those that bought several tickets so they can win might not even have the luck to win the lottery.

That's true, it has to be on luck base, when we are going for lottery,then we should look more on the aspect of what luck may bring our way than the struggles in numbers of slot we may try to acquire, that is why it's not by work but by luck, some have made several encounters in applying using different spots yet unlucky, while some will only launch their first attempt and made it in.

Quote from: GiftedMAN on October 26, 2023, 06:59:50 PM

Buying a lottery tickets can be profitable if we have the luck that will keep us going. Those that bought several tickets so they can win
Sometimes we just need to take some risks trying our luck out rather than trying not to take that risk. Lottery games can be profitable to those that know how to find their way or manipulate the system.

Does using tricks even applies to the use of lottery, if it's that possible then many would have abused it longed time ago just as they do behave in gambling

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Quote from: Fivestar4everMVP on October 27, 2023, 11:02:55 AM

Quote from: Wiwo on October 27, 2023, 10:28:15 AM

Doing that may drain us from engaging in more active and relevant discussions, and to avoid that we need to focus more on the most relevant of them all which is proper money management.

It all adds up at the end of the day, a tree has many branches, and that is what makes it a tree, for without those branches, some may like refer to it as a stick.
So I guess you understand what I mean.

I think that you are both right. Coffee is anecdotical here, but it serves to compare the subjective value of a lottery ticket in comparison to a consumer good which costs more or less the same.

Recapping, I would say that the important thing is the reward we get from both items, and that reward is mostly subjective: those who like coffee value the taste, energy, etc. it provides, while those who don't like it see it as a waste that goes down the toilet; on the other hand, those who like lottery see it as a cheap way to dream, to keep hope on a dear life (possibility), while those who focus on the chances (probability) see it as a waste instead.

Fivestar4everMVP, who seems to share my point of view on the topic, even mentioned that he sees lottery as an investment. I wouldn't go so far either, although it is true to some extent, and prefer to see it as a consumption. I think that seeing it like this is a good strategy to avoid buying more tickets than those strictly necessary to keep dreaming, because in this game where probability is practically zero, more is less.

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Quote from: Wiwo on October 27, 2023, 10:28:15 AM

Quote from: Fivestar4everMVP on October 27, 2023, 09:37:17 AM

You are right and I completely agree with you, it is good to drink coffee, but even while at it, we can as well but some lottery tickets as well, for we never can tell what will happen through those tickets.

When comparing money spent on coffee to that spent on lottery tickets, I can personally say that I perceive money spent on buying lottery tickets as money kind of invested because there is a chance of good profit if the buyer is lucky.
But money spent on buying a coffee is like money thrown away, as there is no chance of making any profit from such money, aside from the enjoyment and pleasure felt while drinking the coffee, outside of this, that money is like money thrown inside a toilet since the coffee will eventually be pissed out.

Well a cup of coffee can still boost your morale to make some more money from your work, but losing from the lottery can drain you of that motivation, so I say both lottery ticket and money spent on Cofee is and are all the same unless in rear cases which we can't rely on to make any judgement about this, anyways we have to also take the time to place everything around each other and not try to compare what is not comparable at some point.

This sure is a good point and another perspective to the whole thing, but I guess our opinions differs based on who understands the real importance of coffee to his or her day to day activities and who does not. Like myself, I can't remember when last I had a coffee, maybe 2012 or 2011, yeah, this tells you it's a substance I am not used to, but like I said, you are right, judging from how we like or dislike coffee.

Quote

Doing that may drain us from engaging in more active and relevant discussions, and to avoid that we need to focus more on the most relevant of them all which is proper money management.

It all adds up at the end of the day, a tree has many branches, and that is what makes it a tree, for without those branches, some may like refer to it as a stick.
So I guess you understand what I mean.

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Quote from: Fivestar4everMVP on October 27, 2023, 09:37:17 AM

You are right and I completely agree with you, it is good to drink coffee, but even while at it, we can as well but some lottery tickets as well, for we never can tell what will happen through those tickets.

When comparing money spent on coffee to that spent on lottery tickets, I can personally say that I perceive money spent on buying lottery tickets as money kind of invested because there is a chance of good profit if the buyer is lucky.
But money spent on buying a coffee is like money thrown away, as there is no chance of making any profit from such money, aside from the enjoyment and pleasure felt while drinking the coffee, outside of this, that money is like money thrown inside a toilet since the coffee will eventually be pissed out.

Well a cup of coffee can still boost your morale to make some more money from your work, but losing from the lottery can drain you of that motivation, so I say both lottery ticket and money spent on Cofee is and are all the same unless in rear cases which we can't rely on to make any judgement about this, anyways we have to also take the time to place everything around each other and not try to compare what is not comparable at some point.

Doing that may drain us from engaging in more active and relevant discussions, and to avoid that we need to focus more on the most relevant of them all which is proper money management.

Topic: Lotteries and possibility vs. probability - page 10. (Read 5828 times)