Topic: Lotteries and possibility vs. probability - page 32. (Read 6269 times)

You, somehow summarized it. Although the chances to win are to be neglected, but the there is still a small chance to win, and we should not neglect this small chance.
Porifirii, you made a great representation and I hope it will not be ignored by those who read this topic..

You wont earn something if you wont risks and this is surely on what those people have in mind and this is why they do really have this kind of act when it comes on dealing into something whether on lotteries or
investing into stocks or bluechips or into those things which it is really that can be seen on traditional markets and investment. It would really be just that normal that we would really be having this kind of approach

Its better to have a dream rather than on having nothing at all.The important thing on here is that you should really know on how to be realistic on whatever move or decisions you would be making.As long you are really making your finances are still safe then it would really be just that wise that you should really be doing that in first place. Spending on something like lottery tickets wont really be that bad
and its not on having a dream on winning those jackpots, as long you are still in control with your mind and not spending tons on which it do comes into a point that it is really that too much or severe
then you should really be just fine.

There are really just that people who are really that skeptical on what other people been doing or deciding with their money and dealing up with something.Well, its their money after all
and they do have the rights on what they should gonna do into it.

Your logic about the lottery's non-productive nature is quite solid. I mean, who wouldnt want to invest their hard-earned money in something that gives returns, instead of splurging on a seemingly "endless dream cycle"? However, isnt there something quite human about dreaming? We are not just economic agents maximizing profits, are we? Isnt the wonder and excitement at what might be a part of our everyday lives? As for your reference to stocks and bonds, lets not forget the crashes of 1929, 2008, and the numerous others in between. Arent those also dream-shattering experiences? It seems like an investment choice is less about hard stats and more about choosing your kind of dream!

A few days ago I saw Nolan's new film about Oppenheimer's life and (not really a spoiler) in a few moments during the film the protagonist is worried about the possibility of a chain reaction that could be able to burn the entire earth's atmosphere. Although the probability is "almost zero", it is still theoretically possible and, therefore, the psychological effects of these images are disturbing for him.


Source: www.scienceabc.com / NASA Vadim Sadovskis.

I couldn't help but think about this thread, and how the positive side of the same effect (when it doesn't become an obsession) is the reason of lotteries being so successful. Although the possibility is near zero, images of a dear life come to the player's mind, creating a pleasant feeling.

Maybe much better to ignore those statistics and just enjoy the lottery since if you always count your losses maybe you will not like it in the long run. So much better bet small and let the faith decide if you win the jackpot prize since for this everything will be fine for you especially on financial aspects since you will not lose any big amount just trying to win the pot prize at stake on lotteries.

This millions prize at stake is one of the factor why people want to bet and chase winnings since they dream to change their lives instantly and winning on lottery is one of their way to escape poverty.

Of course, the probability of a big win is so minimal that even hoping for such a win is generally pointless.  The statistics of your expenses really clearly show that participation in the lottery is just money lost.  And of course, it would be better to invest them in some useful stocks or bonds, or in general just buy some things useful for you with them.  In this sense, all sellers of lottery tickets are such "pipe dream" sellers.  But many people believe and hope that they will be lucky and the dream will come true.  And they buy the lottery all the time and don't win anything for years.  But you can always dream that in the next draw I will be lucky and I will become a millionaire. 
But in the end, all this bothers and people stop buying the lottery. 
However, new dreamers come to replace and the cycles continue endlessly.

I made so for several years. I bought several tickets every income. As the result all my prizes were less than i spent buying these tickets. After it i counted chances to win big prize(much more than the ticket cost) and understood that the best way was to invest these money in some stocks and bonds.

Buying lots of tickets and trying to get a bigger chance of winning is still used by many people because they think that the odds will go up if they have lots of tickets, especially with ticket prices that tend to be very cheap which allows people to buy lots of tickets at once. But everything will come back to your luck because if you don't have luck, you won't be able to get anything and only spend money without winning.

The lottery does provide an opportunity for people who want to earn a lot of money, but they must know that everything depends on luck. That's where they have to think about how much money they can use to buy the tickets but not interfere with their finances. And they should also realize that buying lots of tickets does not guarantee they will win big money or jackpots.

Well, such people exist and they will always exist no matter what we say or do, they are never going to listen to us or anyone and they will keep doing what they are doing which is to try and earn a living through gambling because they are basically too lazy to go out and find a job or something to earn some money, all they want is to sit at home and earn money through either gambling or something that doesn't require a lot of efforts from them.

These kinds of people never listen to anyone, even their parents will get tired of telling them to go and find a job, earn some money, and live their life, but they just keep ignoring everything, they might realize it one day in the future when they have to get married and have a family of their own to take care of, but some don't work even after that.

Having go buy majority of the sold ticket just to increase your chances doenst make it lottery anymore. Lottery for me counts when you've got equal probability of being picked as much as the many others that might have enrole in the process either directly or indirectly.

Lottery give you that chance to ha e your luck tested and work for you buy, one can actually buy there way unto the chances and then, you would wonder what is thereto have been trying there luck with.

It wouldn't be ideal for someone to go about hoping on increasing his or her chances by buying more tickets, just stick to the affordable because, even with haven't bought more tickets, there is never  guarantee still.

Yes, I do a lot of things at work, and obviously when I get paid I have to cover what I have to pay, but it's always good to leave a little to be able to spend on fun, there are guys who go to clubs and in 1 night spend a lot of money, on alcohol and other things, I only allocate a small amount to save it and buy bitcoin and be able to put it in a casino, I do it for two reasons, the first I'm not going to rule out that I have a good profit and The second reason is that over time I can have good savings, I like freebitco.in to save money, and I like duelbtis to play and win, capital is very important.

that's right, people who want to play gambling must have income or a job in order to have capital to gamble and not depend on gambling or lottery games to get money.
make lottery games free or not and other gambling as entertainment and fun and hope for a little luck, so don't expect too much luck every time you play because it will mislead you and continue to pursue it without thinking that only having a job or business can make money.

That, I'm talking about a casino making money on gambling - this is clear to everyone and generally obvious.  However, I would like to note that this is still quite a risky and complex business, and therefore I believe that it is not in vain that casino owners have quite large incomes.  There are too many nuances in this business, starting even in matters of legislative regulation in different territories. 

But as for such professional players, of course they also exist, but I think that all the same, the percentage of such players in the total mass of ordinary gamblers is very small.  Of course, it is interesting to know how much this percentage is. 
But I think that it is difficult to find out also because the casino should hide such players. 
And these players themselves, probably for the most part, try not to spread their games and earnings.  And they try to remain as anonymous as possible.

Exactly. "As long as the players enjoy the game.", Because that's what gambling is for right? Solely for entertainment. But, there is minority of people who are able to see potential money-making behind gambling. Those are the casino owners and what they call Legendary Players. Those who are profitable ones. They are called legendary not because they are very lucky. They are profitable because they use probability on their side. They are not over risking, they are not putting all their money in one basket. They are patient on their gambling because they will only bet when the chance is present and there is a greater probability on their side.

Well, to be honest with you, i wont advice such, for the person or people out there who dont have the money to gamble, it is most advisable to them to get their ass up and work to earn money, there are many thing all around people can do to earn money, even if it is a menial jobs, just do it for the time being and raise money and look for a small business to start maybe, it is absolutely wrong to stay idle, playing free lottery and depending on luck, it is commonly said that manner does not fall from heaven anymore, it only happened once and will never happen again, you can be doing your menial jobs and still be trying out your luck with free lotteries if you find any free lottery anywhere, the most important thing here is that you are not idle.

This is something i can advise someone to do, that when you think you don't have money to gamble then you can make an application for lottery freely and pray for your luck to come in through the process, also for the category of people who think they can have the enough patience to endure and wait till they get the outcome of their application for lottery, patient is the key here while waiting and persistency also may be needed to keep applying and reapplying till when luck set in, maybe because of all this long process got some being discouraged from participating in lottery to settle for gambling which takes no longer procedures and requirements to get it done.

I have a friend who has an Excel sheet. Using that Excel sheet to an extent he is able to predict the lottery number. It is not always accurate but once in a while, he is able to make small profits. He has some algo attached on that Excel sheet which predicts the number. He plans to use AI to improve the algorithm, which he thinks would make him more profit.

The reason why I shared his story was because probability does work. It does not guarantee your win but it can boost the possibility of a win. Possibility does make 70 percent in lotteries and I feel probability players only 20 percent. The leftover 10 percent is pure luck and nothing more. If you are lucky you can always win big without any possibility or probability. 

The lottery's excitement is the uncertainty. The odds of winning are minimal, especially with a large pool, but isn't that the objective of the lottery? Finding smaller lotteries with higher chances is too practical and takes away the thrill and excitement of the game. Does receiving a lower prize make it any less sweet?

Buying more tickets doesnt increase your odds of winning sounds oversimplified. Even if a single-ticket winner is lucky, each extra ticket increases the odds of winning, even if only slightly. Isnt the raffle about taking these slim chances?

Even if there is transparency in selecting the winner of a lottery, it is still not worth it because the chances of you winning will still be tiny because of the number of people participating in that lottery. One should only take part in a lottery where there aren't a lot of participants, but when that is the case, the reward won't be too enticing, the more participants, the higher the reward will be, that is how lotteries work because they give out a portion of the total amount collected through sold tickets.

However, people who spend a lot of money on buying lottery tickets should stop doing that because the result is totally dependent on your luck, and buying more tickets or having a higher probability of winning won't actually make you win because even someone with a single ticket might win against you with a lot of tickets if they are luckier than you.

Many members here think, like Mahanton, that probability plays a fundamental role, so "lottery is a very bad game/a game for ignorants like to waste their money".

Others focus on the fascination of thinking about the price, like khaled0111, even if you know that the odds are near zero.

If we follow the advice we have read so many times in this forum, and we play for the fun, not for the money, then it is clear that sports bets, for example, could be a good example for that; but, for the same reason, lotteries shouldn't be labeled as "bad" just because of the ridiculous chance to win, as long as the players enjoy the game.