Topic: Lotteries and possibility vs. probability - page 19. (Read 6269 times)

Provably bettors doesn't count about difficulties or their chances is slim since their main concern for now is they get a chance to win on lottery specifically the powerball since if they look at their winning chances or percentages and get discourage then they won't win with that. People bet in lottery is trying their luck to win and if not life must go on, we see some people win on lottery and that's what they want to experience that's why although its impossible to win there are people take their chances to bet just to get thrilled while waiting for possible result.

Once people get used to lottery, it becomes a habitual activity. I've seen people depending on daily wages for life, among the money earned they allocate for buying lottery. As in the opening post if we think of the possibility, $1 could buy big fortune. People always look for the possibility and not the probability. If we keep on calculating the probability, life won't be enjoyable and we will able to see barriers keep on popping infront of us.

Lottery addiction is quite rare, as people set their limits and never overspend as it takes time for the revealing of result. This means people never spend consecutively to recover the money spent on buying lotteries. On a combined scale individuals could've spent big money through habitual buying, but the impact it creates on a person is less compared to other forms of gambling where we keep on spending with the hope of recovering whats been lost in the previous roll.

Reason why sport bet is the most suit after games at all time because football analysis is more easier to do that other games,  since football os a game that is lived and watched by all it make it easy for anyone to easily make his/her own analysis of the game and make predictions.

This predictions helps in a lot of ways,  since most time predictions and analysis are done under intense condition from the ops.

Totally difficult and lets put up some numbers for us to know on what are the probabilities on hitting up the jackpot.
Lets put up ex. Powerball

The odds of winning a Powerball jackpot — no matter the size — stand near 1 in 292.2 million. Chances of taking home Mega Millions' top prize are even lower, at about 1 in 302.6 million
Source

Its impossible that people who do make out bets on lotteries arent aware those odds which it is really that close to impossible but we do really know that
it isnt something that would really be stopping them on making out bets despite of those numbers on which it is really just that a very common approach to have
Probability and possibility? Everything would really be that slim and we know that it isnt something guaranteed that you could really be able to hit it even if you do make
that lifetime kind of betting into it. lol

Yes mate, Gambling on sports betting has much higher chance of winning than the lottery. If one bets on football and takes a double chance, that would be lower odds and the higher probability of winning. But there is no such possibility in the lottery. Although the amount of reward in winning the lottery is very high, many people do not show interest in lottery because there is no certainty. If a certain amount of money is spent then have the probability to gain something. From that point of view, gambling is definitely better than lottery.

The point of this whole thread is to discuss about the psychology and maths behind lotteries, and several members who have studied the calculations, me included, agree that playing lotteries makes sense even if the probability is near to zero.

So sorry but I strongly disagree what you said about "who gets into lotteries are bad at calculation". In fact, this topic was first raised by a Professor of Economics when I was studying at University, and he encouraged us to play because there are few activities that generate so much hope/joy for so little money (considering that the jackpot is enough to make one rich, the player pays the minimum amount, and the draws are spaced enough in time).

Playing the lottery is difficult because the game depends on luck, and only a few people can hit the jackpot. However because of the difficulty of the lottery, many people are curious and still want to buy tickets in the hope that they can win the jackpot. Moreover, with ticket prices that are not too expensive, they can buy even a large number of tickets, and they don't mind buying them for a few dollars at a time. People who rarely buy lottery tickets might think it is a waste, but not for those who have been buying lottery tickets for a long time because they still hope to win. And playing the lottery cannot be compared to slot games, even though both require luck to win.

I do easily get discourage when betting on lotteries or whatever kind of betting that involves ticket. Yes, the prize is really that truly life changing or something that you could really be able to make yourself living
without having problems when it comes to finances but that life changing opportunity doesnt really come or could happen because you would  really be needing all the luck in the world for you to make yourself that
able to hit up those jackpots and this is something that you should realize and this is why it would really be that important that you should really be only spending up on the money on which you could really be able or afford to lose because we know that even if we do spend up some peanuts but on the time that you are already that doing it on impulsive manner then this is where things becomes messy. On the first ticket i have bought
then i have already been imagining on what would i do with the jackpot prize as if you would really be able to hit that. lol. I do even daydreaming on buying cars and some huge houses then on the time that you do
see your bought ticket or combination did have a lost then you would neither be quitting directly or would really be making more other bets and trying to push your luck even it would really be lasting like forever. heheheeh

I am also like you, I don't have the opportunity in a raffle, but I have friends who really like to use lotteries as a means of feeling good, and raffles too, they buy raffles and are always close to winning, I can't even have that No luck either, I prefer to use other strategies, in porbabldiades I'm not very good so to speak, because that is something that is not only about throwing numbers, it is about taking many variables into consideration, and no, it is like a lot of work for the results , I have not seen anyone who wins by taking the calculations, I prefer to think that when I sit in a casino to play it is to be playing and to be lucky and to gain that luck, as proabbdlaides are very far away for me.

We have chances, we should be able to turn it to our taste and earning remarkably from this opportunity we have successfully obtained. Lotteries are difficult and extremely challenging for gamblers, announcing top winners is rare, compared to sport gambling that have the necessary features of winning, I'm acquainted with this sector and countlessly withdrawn significant profits. There are other gamblers that also focus on lotteries to earned from the system. Lottery is out of the picture for me, I don't selects lotteries because I've zero clue on that sector, besides it deals with luck and not analysis data.

Odd less than 1.1 don`t guarantee your win. We see hear a thread when a gambler lost $1.4mln with the odd less 1.07(may be i mistaken, but the number are near they were in the thread).
In my opinion even if i don`t analyze match, i have 33% chances to win. Even if we are talking only about draw or victory. So i can search for the matches with the same odds, that means that even bookie don`t know who will win, and i have 33% of winning. The odds will be about 1.7-2 mostly. But even in such situation the maths tell us, that we`ll lose on the distance.

I don't like lotteries and I will never do, because it's like publishing one's self through days of one's life, I would rather sit in front of my computer and play Slots or predict sports bet than spending a dime on lottery tickets.

Those who gets into lotteries have no idea how slim the chances of lottery is, they are bad at calculation I guess, if not, it's enough to scare them away, you can gamble on a casino and win a few times in a month or two, but lottery is buying your chances over and over and over, lottery is the most worst one.

When the chances of turning something around is too slim, and you don't know how to walk away from it, the only thing you can do is to engage with your common sense, I don't even advise going the lottery tickets or lottery games like Powerball, they will get you financial instability or turn you into a homeless person.

True. Sports betting could be based on skill to some degree, if betting platforms didn't fix the odds, but for many people it is more confortable to rely on that false sense of control. Not the case of the "Quiniela" in my country, for example (with different names around the worl), where you guess the results of the 15 games of the week and become a millionaire, some sort of lottery on the other hand, as it is still easier to be hit by a lightning, although skill can play a little role.

But with odds, all the knowledge about sports and a certain game is already concentrated there: one should be humble enough to acknowledge that his skill is not much better than the experts' and, of course, than the algorithm.

The lottery will only be won if a gambler can have very good luck and the way of thinking or approach will never be able to influence determining the results that will come out because the lottery numbers are always random and there are 5 or even 6 numbers with the number arrangement not in sequence so it relies on mindset or approach without a basis of luck then everything will be in vain.
But lottery is a type of bet that really makes people curious about being able to win, so it only natural that some people are very dependent or addicted to lottery betting.

All types of bets and games definitely result in financial losses without exception and only we ourselves are able to avoid or minimize the impact of financial losses by always having limits and never losing control when risking a certain amount of money.

I will not really say that gambling games are the easiest games to control since took are not in control of the outcome of a selected lottery tickets unless if you choose the me with the minimal odds that it look sure to win the staked,  such as a 1:2 odds numbers,  but this requires you to stake high amount and that will increase your over loses if you end of losing the bet.

So the thing we can have at the back of our mind is that,  no aspect of gambling is devoid of risk and luck,  so we should have a prepared to meet both of the mentioned facts while gambling be it at a casino or just buying a lottery ticket from an online lottery company.

^^
Do you guys even understand what odds are!!
You say that sportsbet ting are better because you "know" which team will win. OK, I've no problem with that but can you tell me what's the odds for that pick?! Am sure, because it's a guaranteed win, the odds will not go over 1.1.
You need to bet one million dollar to win 1/100 of that amount and there is still a possibility to lose it all.
The same applies fir lotteries. If the odds are 1/100 then it's the same as placing a vet on the team you think it will win. It's all about the odds and house edge, not about how skillful you are.

Always in any lottery, casino game or whatever is going to be played, we always make calculations in a very casual way, we can even calculate how much we can lose, win, etc., but these types of things when it comes to lotteries, the more the person's faith goes to play and win with any probability or possibility, in the face of nothing, I believe that lottery players, of raffles, go more and believe in the chances they have of winning, they do not get any probability because most people don't understand it and secondly it is something very mathematical and it involves a lot of calculation, for them everything is better in the name of the good luck they may have, so in this order of ideas we can assume that a lottery player, raffles, they go to the side of faith, like the friend who had previously said that he won many prizes because he played in several raffles, and they were cars, roads and a white line, the truth is that he called that very good luck on his part .

Then like him, there are many people who tend to have very good luck for seven types of events, and the blinds and statistics are in favor of the hope that the most win the raffles, because according to the mathematical model, it is most likely that that person can win Again , that is what many should consider before anything, personally I am very expressive with these things, and I hardly have any luck to win in lotteries, I think that the best thing is to search Things by my own effort and chance because I don't know, many times it doesn't favor me, I don't Know how to increase the possibilities for it, randomness will always be something that is difficult for many to be able to decipher, for that reason it is that games of chance are very successful, casino owners and everything, are the luckiest as long as their type of advantage remains above 1,2,3% is the most correct way for a casino to be honest and be able to generate various types of emotions and Joys.

I agree with this, even though lottery gambling is the easiest gambling game to control, there are limits in gambling that need to be implemented and we can do this by limiting the amount of money we spend on gambling every week, but with the condition that you really can afford to lose that profit. . Or we can also limit it by determining the number of tickets we will buy each week. And we also have to remember that we should not take everything we do lightly, including gambling on the lottery. Continue to apply limits in every gambling that we do so that the activity can be controlled and later if the gambling activity is controlled then we will be wiser in gambling.

Lottery have double outcome and each outcome depends on the mindset and the approach that os applied by the lottery participants,  there os no doubt that lottery have the high chances of turning our financial life of individuals around,  but then if it not done based on limit application it will still result in negative direction or even sliding the fork into addictions.

Financial loses os one of the negative outcome of excessive gambling and even lottery because some people multiple lottery tickets with he aim of making multiple lottery winnings but in the end,  it still ball down to when the user has the luck to pick the lucky number which doesn't happen all the time.

The attraction of casino games, sports betting, and lotteries differs from person to person. But I must stress how crucial it is to gamble responsibly. Many people forget that the chances are usually not in their favor because they are so focused on the "what if I win" scenario.

Some people persevere in a positive manner, but over time, it might result in large financial losses. The secret is to allocate a specific amount of money for this kind of amusement and stick to it, even though its very tempting to double down or chase losses. Im only warning you to proceed with caution. Im not saying dont try your luck. Establishing and adhering to a budget distinguishes between an enjoyable pastime and a detrimental routine.