Lotteries and possibility vs. probability - page 41.

Blitzboy

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Quote from: Weawant on June 30, 2023, 01:42:27 AM

Quote from: Yatsan on June 27, 2023, 10:05:26 AM

I believe that people's belief towards lottery has something to do with poverty as well. They know it would be impossible to win, there's even a saying in my country that you are more likely to be struck by lightning than winning a lottery. But why do people still continue betting? 'coz they know there's someone who won and they are simply hoping that oneday they would be that someone even if it is a punch to the moon. Lottery speaks for luck. And believe it or not, I know someone who won two times in lottery on my country. It was hard to believe at first but seeing how fast the transition came to their family, I understood why many people are too hooked up with it.

That's correct poverty is the main reason many people engage in gambling at first, it could be sport betting or casino games, poverty is the main reason they play because they want to get extra income. lottery wins comes with big money than sport betting or playing slots games in the casino. People believe they can win that's why they keep playing.

I know someone in my country that has never won a lottery ticket before but he keeps on playing and hasn't stopped. The person is good with sports betting but instead of putting efforts in that type of gambling he prefers wasting money on lottery ticket and always fails.

The chances of winning with lottery are impossible, I only hear of stories of how someone from some part of the world won millions in lottery ticket but I haven't seen one myself. It feel some of this stories are fake just to make people to continuously buy the lottery tickets.

Your observation of the poverty-gambling nexus is intriguing. It reminds me of the concept of 'poverty tax', a term used to describe the pattern where those with less income tend to spend a disproportionate amount of their money on lottery tickets, enticed by the dream of a life-changing windfall.

Your frien, the habitual lottery player, is an interesting case. It's as if he's caught in the web of lottery's seemingly immense but rare rewards rather than focusing on sports betting where his skills can actually bring in steady wins. A classic case of ignoring a stream of small fish for the chance of landing a whale, I'd say. I feel rebelliously empathetic for him.

When it comes to lottery winning stories, I can't deny being sociologically absorbed. These narratives do seem overblown, dont they? Its like fishing tales where the fish keeps getting bigger with each telling. Rather than being sucked into this whirlpool, it's more constructive to develop a balanced approach, understanding the risks involved and not being overly swayed by the elusive mega jackpot.

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Quote from: Yatsan on June 27, 2023, 10:05:26 AM

I believe that people's belief towards lottery has something to do with poverty as well. They know it would be impossible to win, there's even a saying in my country that you are more likely to be struck by lightning than winning a lottery. But why do people still continue betting? 'coz they know there's someone who won and they are simply hoping that oneday they would be that someone even if it is a punch to the moon. Lottery speaks for luck. And believe it or not, I know someone who won two times in lottery on my country. It was hard to believe at first but seeing how fast the transition came to their family, I understood why many people are too hooked up with it.

That's correct poverty is the main reason many people engage in gambling at first, it could be sport betting or casino games, poverty is the main reason they play because they want to get extra income. lottery wins comes with big money than sport betting or playing slots games in the casino. People believe they can win that's why they keep playing.

I know someone in my country that has never won a lottery ticket before but he keeps on playing and hasn't stopped. The person is good with sports betting but instead of putting efforts in that type of gambling he prefers wasting money on lottery ticket and always fails.

The chances of winning with lottery are impossible, I only hear of stories of how someone from some part of the world won millions in lottery ticket but I haven't seen one myself. It feel some of this stories are fake just to make people to continuously buy the lottery tickets.

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Quote from: Bitcoin_people on June 29, 2023, 09:27:35 PM

Most people hold lotteries mainly to win big prizes but only the lucky ones can win the prize. When a person wins the lottery he hopes to win a good prize but if luckily he loses then he is inclined to buy the lottery again later. After losing a few times like this, he decided to spend more money and play the lottery and gradually he became addicted to it. They continue to lose money in the hope that a person who has won the lottery might win the lottery again and win a bigger prize. By spending money like this, they become addicted like gambling and want to do anything to win the prize. There are many people who are addicted to gambling and spoil their future and plan only to win prizes by gambling. But the life of a gambler and lottery buyer can be enlightened if he can visit a good path. So when a gambler buys a lottery, they must be careful and watch out for this addiction later on.

The existence of prizes from the lottery is what attracts people to continue buying tickets; with cheap ticket prices, they try to buy as many tickets as they can. And if they haven't won one of the prizes, they keep trying to buy a ticket to win it one day. And people get addicted to keep buying the tickets and hoping, so they probably won't stop if they haven't won the prize. Many people become addicted to buying lottery tickets because they are cheap. So when you want to buy lottery tickets, make sure you only use the money you can afford and don't take too many risks so you don't lose too much money either.

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Quote from: Rabata on June 27, 2023, 06:34:47 PM

In my opinion the person who buys the lottery must want to change his lifestyle. He knows that he will not be lucky enough to win the lottery but there is a small chance or provability and based on this possibility, he is interested in buying the lottery. Some buy national lotteries and don't have to spend a lot of money. Among them are some lottery buyers who are keen to use their lottery money for the development of the country. There are many people who know that they will not win the national lottery but consider their small role in the development of the country as consolation.

there is not only once in a million chances but instead Hundred million or even billion chance to win meaning that person who bets in lottery wanted a life changing event and this is what they wanted in lotto .
but if they are buying tickets just to spend money for nothing then this is a different approach.

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Most people hold lotteries mainly to win big prizes but only the lucky ones can win the prize. When a person wins the lottery he hopes to win a good prize but if luckily he loses then he is inclined to buy the lottery again later. After losing a few times like this, he decided to spend more money and play the lottery and gradually he became addicted to it. They continue to lose money in the hope that a person who has won the lottery might win the lottery again and win a bigger prize. By spending money like this, they become addicted like gambling and want to do anything to win the prize. There are many people who are addicted to gambling and spoil their future and plan only to win prizes by gambling. But the life of a gambler and lottery buyer can be enlightened if he can visit a good path. So when a gambler buys a lottery, they must be careful and watch out for this addiction later on.

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As far as the general public is concerned, they are buying tickets for the hope of changing their lives into straight retirement- winning the lottery is a dream that can be achievable by means of paying a relatively small amount of money. So basically, the lottery for them is something that can provide them that dream and can create an illusion of them winning. Sometimes the thought of you winning is worth it to the price you pay for betting.

Though this may be the case, winning the lottery is astronomically low. For some who may compute the chances of winning, it is forwarded that you may have no chance at all of winning even if you bet daily starting from the day that you were born.

In conclusion, you are paying for the thought of winning and the chance of going straight to retirement. Though the chances may be lower, still, I guess it is still worth it to pay such amount of money for that chance of you winning, even if such odds are low.

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Quote from: ralle14 on June 25, 2023, 07:44:04 PM

I used to play lotteries in crypto casinos a few times, but only in the small ones because the total number of tickets would only go up to a couple of hundred, and their lottery is different to the bigger ones that require you to pick several numbers. I would rather watch someone spend money on these lotteries, but I might change my mind if they have other prizes because I already know i'm never going to hit all the numbers they draw every day but hitting a few of them is more manageable.

I used to do it on freebitco.in where they draw winners with a random number generator I believe, because they generally have a huge amount of tickets since they give away free tickets too, and then people buy tickets as well to maximize their chances of winning. I did it for a lot of weeks but never managed to win a prize unfortunately, they pay 10 prizes every week ranging from small to big, the top prize used to be more than 2 Bitcoins back in the day.

It's been a long time since I've checked them out, but to be honest, winning in a lottery is very difficult as the probabilities of winning are generally too low unless you spend a lot of money to get a huge load of tickets which still doesn't guarantee that you will win the main prize.

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Quote from: Porfirii on June 29, 2023, 05:36:28 AM

I agree with Apocollapse: if you are not some kind of influencer or businessman who makes money from different sources of income, gambling alone is not a sure way to make money, and those who know how it works won't fail in such a misunderstanding.

You can win or lose with gambling but it has more risk than with trading or investment. You can pour your money into toilet with one gambling bet. It is harder to lose all money with one position in investment or trading.

I agree with Apocollapse and Porfirii that don't bet too much if you don't get money very easily. Easy money is like from passive income from affiliate commissions.

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In addition, we're talking about lotteries here, and it is clear that although there are cases of whales buying thousands of tickets and hitting the jackpot, I wouldn't say that there is any winning strategy if we take into account the slim chances of victory. Other games like poker, I don't know, maybe those skilful enough can make a living out of it, but don't underestimate the long tail of corpses left on the way.

It needs luckiness too as I think lottery companies will print massive lottery tickets and one whale can not afford to buy all lottery tickets to have 100% win chance.

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Quote from: Apocollapse on June 29, 2023, 05:30:52 AM

Quote from: Wakate on June 28, 2023, 06:47:24 PM

Everyone of us are looking for a better lives that is why people are using there money to get what they want. Sometimes we might not get what we want due to some certain circumstances, we can always look for similar means that can get us to where we intend to reach. Gambling is one of the ways we can earn money from gambling if we know what we are doing. Gambling might look easy to earn from it but it has some challenges we need to face for us to earn the kind of profits we are looking for. Those who know how it works will never get bothered.

This is really a wrong thought, gambling isn't one of the ways to earn money because gambling itself is for entertainment. You can argue if there's a professional gambler can make money through gambling, but not all people can be a professional and beat the house.

In gambling losers are higher than the winners, you need to prepare with the worst scenario which is lose, not think you will win in gambling.

I agree with Apocollapse: if you are not some kind of influencer or businessman who makes money from different sources of income, gambling alone is not a sure way to make money, and those who know how it works won't fail in such a misunderstanding.

In addition, we're talking about lotteries here, and it is clear that although there are cases of whales buying thousands of tickets and hitting the jackpot, I wouldn't say that there is any winning strategy if we take into account the slim chances of victory. Other games like poker, I don't know, maybe those skilful enough can make a living out of it, but don't underestimate the long tail of corpses left on the way.

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Quote from: Wakate on June 28, 2023, 06:47:24 PM

Everyone of us are looking for a better lives that is why people are using there money to get what they want. Sometimes we might not get what we want due to some certain circumstances, we can always look for similar means that can get us to where we intend to reach. Gambling is one of the ways we can earn money from gambling if we know what we are doing. Gambling might look easy to earn from it but it has some challenges we need to face for us to earn the kind of profits we are looking for. Those who know how it works will never get bothered.

This is really a wrong thought, gambling isn't one of the ways to earn money because gambling itself is for entertainment. You can argue if there's a professional gambler can make money through gambling, but not all people can be a professional and beat the house.

In gambling losers are higher than the winners, you need to prepare with the worst scenario which is lose, not think you will win in gambling.

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Quote from: Rabata on June 27, 2023, 06:34:47 PM

In my opinion the person who buys the lottery must want to change his lifestyle. He knows that he will not be lucky enough to win the lottery but there is a small chance or provability and based on this possibility, he is interested in buying the lottery. Some buy national lotteries and don't have to spend a lot of money. Among them are some lottery buyers who are keen to use their lottery money for the development of the country. There are many people who know that they will not win the national lottery but consider their small role in the development of the country as consolation.

Everyone of us are looking for a better lives that is why people are using there money to get what they want. Sometimes we might not get what we want due to some certain circumstances, we can always look for similar means that can get us to where we intend to reach. Gambling is one of the ways we can earn money from gambling if we know what we are doing. Gambling might look easy to earn from it but it has some challenges we need to face for us to earn the kind of profits we are looking for. Those who know how it works will never get bothered.

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Quote from: Gozie51 on June 28, 2023, 08:00:11 AM

Quote from: Rabata on June 27, 2023, 06:34:47 PM

There are many people who know that they will not win the national lottery but consider their small role in the development of the country as consolation.

Do people really play lottery with the mindset of contributing money to help develop their country ? Lol I doubt that. Lottery is also gambling and despite that some gamblers say they do that for fun , it is not always the reason. Maybe they play with little money and don't invest their emotion on winning but definitely they wish to win. So likewise lottery, people play it to try their hands on winning not because they want to solely contribute to the country's financial development even though the money generated from lottery tickets are said to be utilized as taxing for the development of facilities but individuals don't play for just the fun of contributing to development. Every gambler wants to increase his stake in multiple cash.

No one for sure. They wouldnt really be minding if those amounts that they had used would really be considered to be a donation or some sort but knowing that there's a fine line or difference between sweepstakes and lottery but in overall concept on how things been working or been done then it would really be just the same.People wouldnt really be minding about being helpful or charitable works or being that ethical on playing lottery just because they've been thinking on helping people because the main thing that they would be having in mind is to win up that huge jackpot which would be entirely be changing up their lives.
Here on my country on which on the time that you would be hitting up the jackpot then the government would really be deducting that 12% tax and some deductions which would lead up to 70% on what you would be taking home which is really that so sad but since these amounts came from air and extreme luck then you wouldnt really be bothered with those amounts deducted and would really be agreeing
all the way.

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Quote from: Findingnemo on June 23, 2023, 02:09:01 PM

People who bet on lottery don't really have anything other than their pure superstition or instinct or we simply call it as luck and as we all know if someone win that it's going to be a life changing amount for them even half of the amount nearly cut for taxes in most parts of the world.

Lottery bettors sre so addictive and since the bet amount is tiny it won't cause them financial danger unless they get psyched and do something to outsmart the system.

even though in the city all forms of gambling, especially the lottery, are strictly prohibited, but I personally fully support the lottery, many people have succeeded in changing their lives by 180% when winning the lottery, and the most addictive thing is that the bets that must be placed are relatively small for many people.

just imagine you enter a lottery with only $1 while you have an income of more than $10 then I think it's not a loss at all (even though it is a national lottery that is carried out by the state)

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Quote from: Rabata on June 27, 2023, 06:34:47 PM

There are many people who know that they will not win the national lottery but consider their small role in the development of the country as consolation.

Do people really play lottery with the mindset of contributing money to help develop their country ? Lol I doubt that. Lottery is also gambling and despite that some gamblers say they do that for fun , it is not always the reason. Maybe they play with little money and don't invest their emotion on winning but definitely they wish to win. So likewise lottery, people play it to try their hands on winning not because they want to solely contribute to the country's financial development even though the money generated from lottery tickets are said to be utilized as taxing for the development of facilities but individuals don't play for just the fun of contributing to development. Every gambler wants to increase his stake in multiple cash.

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Quote from: Yatsan on June 27, 2023, 10:05:26 AM

I believe that people's belief towards lottery has something to do with poverty as well. They know it would be impossible to win, there's even a saying in my country that you are more likely to be struck by lightning than winning a lottery. But why do people still continue betting? 'coz they know there's someone who won and they are simply hoping that oneday they would be that someone even if it is a punch to the moon. Lottery speaks for luck. And believe it or not, I know someone who won two times in lottery on my country. It was hard to believe at first but seeing how fast the transition came to their family, I understood why many people are too hooked up with it.

Dear Yatsan, I totally agree with you: I think that people who get hooked to lottery is because they lost all faith in getting rich by other means due to their poverty among other factors like age, education, prior unpayable debt or lack of possibilities in their environment.

I don't think, however, that all people who plays lottery are in such situation. For example: I hodl Bitcoin with the hope that one day my investment will be enough to cancel my mortgage. Not that I won't be able to pay it otherwise, that's why we call it Plan BTC, but it makes me happy to dream about it from time to time, and that's the emotion I feel the few times I play lottery too. I knot that this is not a reasonable thinking, but human beings aren't 100% reasonable either by definition, which makes such activities understandable somehow.

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Quote from: Slow death on June 23, 2023, 03:55:49 PM

most people play the lottery hoping they will be very lucky to win the maximum prize, they know very well that this will be a very difficult task but even so they keep playing, in the beginning they take little money and buy few tickets, then they start looking at the tv that a lot of random people are winning the top prize and for that reason these people start to intensify a big campaign to buy a lot of tickets and with that they start to spend a lot of money and it doesn't take long before they become addicted to gambling

and to make matters worse, when these people become addicted to gambling, they hardly show the signs that they are addicted to gambling, I already had the opportunity to live with people who became addicted to the lottery, I started by observing the signs when they didn't managed to go a whole day without taking out money to buy lottery tickets, I kept wondering if they could stop buying lottery tickets when they wanted to. relatives had to interfere and stop giving them money, that's the only way people stopped buying lottery tickets. lottery games are the kind of games that make people addicted easily

I do believe that addiction does have that has a level on which its true that if someone is really that a fan of buying lottery tickets on just hoping that they might win then its not really that an immediate sign that you are already out of your mind and trying out to buy tickets as much as you want just because you do really have that mindset and hopes that you would win. Just like myself on which i do make and buy lottery tickets but not on the sense that it is really that consuming too much money.Im aware on what im doing and im just spending the amount which i could able to let go and wont mind on.

Unlike when you are spending tons of money already on buying tickets then this is the best time that you could really say that you are already addicted into it, but for those someone who do just simply
buy tickets a piece or two and then watch on the TV on the results then it isnt really just that right on considering it to be addicted immedaitely.

When it comes to chance or probability then we do know that lottery does have the slimmest chance on hitting those numbers.

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In my opinion the person who buys the lottery must want to change his lifestyle. He knows that he will not be lucky enough to win the lottery but there is a small chance or provability and based on this possibility, he is interested in buying the lottery. Some buy national lotteries and don't have to spend a lot of money. Among them are some lottery buyers who are keen to use their lottery money for the development of the country. There are many people who know that they will not win the national lottery but consider their small role in the development of the country as consolation.

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Quote from: Haunebu on June 27, 2023, 12:31:33 PM

Quote from: Fivestar4everMVP on June 26, 2023, 12:06:03 PM

Aside national lotteries, FreeBitco lottery is one I participate in almost every week, many a times I've seen players with as little as 100 to 150 tickets winning the number one spot, which is the highest, while those with lots of tickets end up with the smaller prices.

There is no guarantee in any form of gambling and lotteries are not an exception. Your chances of winning rise when you purchase more tickets, but that doesn't imply that you will win for sure.

Small-scale gamblers can win mega prizes, but the chances of them winning are extremely rare for obvious reasons.

At the same time, it is at such moments of victories of people with a small number of tickets that the lottery advertises itself. People have heard the news that someone bought one ticket and won the biggest prize. At the same time, everyone starts talking about luck, although in fact this is ordinary mathematics. At the same time, it's funny that such a person will think that he is chosen by fate and will start participating in the lottery again and again. Not realizing that he has exhausted his luck resource and now mathematically his chances of winning are very small.

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Quote from: Fivestar4everMVP on June 26, 2023, 12:06:03 PM

Aside national lotteries, FreeBitco lottery is one I participate in almost every week, many a times I've seen players with as little as 100 to 150 tickets winning the number one spot, which is the highest, while those with lots of tickets end up with the smaller prices.

There is no guarantee in any form of gambling and lotteries are not an exception. Your chances of winning rise when you purchase more tickets, but that doesn't imply that you will win for sure.

Small-scale gamblers can win mega prizes, but the chances of them winning are extremely rare for obvious reasons.

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Quote from: dezoel on June 27, 2023, 06:52:20 AM

I don't think nor have I personally seen it where a person pays extra money only for the possibility of winning a lottery, but people do that to increase their probability of winning since that determines how much chances of winning the main prize you have, but since we all know that lotteries are a category of gambling and things depend on luck whether it's a win or a loss, most people don't win anything even after buying so many tickets.

There's no tendencies that lotteries can be manipulated simce they are mostly sponsored by the government, they make it an open opportunity for the public for everyone to participate and try their luck if it worked out, so no money is needed or used in most cases to get this offer unlike when you're gambling, the two only have similarity of being lucky to win but doesn't mean they are the same by any chance.

Quote from: dezoel on June 27, 2023, 06:52:20 AM

I personally believe that we shouldn't purchase extra tickets if we are willing to participate in a lottery because even if you have 10 tickets or 10 thousand tickets, your winning or not winning is never in your own hands, so it's simply wasting money.

It all depends on the rules and regulations guiding the lottery if it permit for several attempts for slots or not, also it depends on the numbers of applicants going after this opportunity, if people were allowed to buy it, some may take advantage of increasing their chances by purchasing multiple slots, that's why most of it comes on a single attempts for each person to acquire a single slot as well.

Topic: Lotteries and possibility vs. probability - page 41. (Read 6269 times)