Odds of 1 in 292 million! I saw a tweet that said the likelihood of bitcoin's collision resistant property being breached is higher than winning the jackpot!
Topic: Professor Explains Why Your Chances Of Winning "Powerball" Are Next To None! - page 2. (Read 1851 times)
January 14, 2016, 12:35:11 PM
January 14, 2016, 12:34:07 PM
Odds of 1 in 292 million! I saw a tweet that said the likelihood of bitcoin's collision resistant property being breached is higher than winning the jackpot!
Yes, incomprehensibly higher.
January 14, 2016, 12:33:27 PM
Lotery= Tax for Idiots
What is the annual tax burden due to state-sanctioned gambling on one who can't properly spell the word "lottery"?
January 14, 2016, 12:29:34 PM
Odds of 1 in 292 million! I saw a tweet that said the likelihood of bitcoin's collision resistant property being breached is higher than winning the jackpot!
January 14, 2016, 11:14:11 AM
Lots of people have already won jackpots worth of millions so people will keep on trying to get lucky onetime to be one of those winners. Although the chance of winning is so so so low, people will not leave that little chance to win after seeing some of those lucky winners in tv frequently. People are greedy by nature. 
January 14, 2016, 10:55:12 AM
win that lottery doesn't mean his life will be good. i hope not, but it may continue in a very bad way. few years pass and he may lose much more things that he gains today. it's not that much to worth dream of.
January 14, 2016, 09:51:51 AM
Lotery= Tax for Idiots
LOL, that's a good one.
I always tell people that I'm hopeful of winning the lottery using my system of trying to find discarded winning tickets. As unlikely as that may seem my odds are only slightly less than if I buy tickets.
January 14, 2016, 09:45:59 AM
I deliberately posted this video in the gambling section because this Statistics professor gives nice insights how probability works and the concept remains the same weather it be lottery or a jackpot.The video might motivate you a little. 
http://www.worldstarhiphop.com/videos/video.php?v=wshh35K0oY8B8E8X4Z0z
http://www.worldstarhiphop.com/videos/video.php?v=wshh35K0oY8B8E8X4Z0z
you know what.. most of the people.. even if they have played and lost and all sorts.. they know this .. but still playing.. i guess it just for the fun and anxiety
but yes a motivational video for addicts u mean ? or what?
January 14, 2016, 09:21:18 AM
3 people won I think, sharing the jackpot so obviously the professor is right but the 3 winners will be glad they didn't listen to him.
January 14, 2016, 08:53:25 AM
The chance of winning the first prize for the lottery is extremely low but it is one of the only way for the working class to dream of becoming rich.
Many people will still continue to buy the lottery for the hope.
Many people will still continue to buy the lottery for the hope.
January 14, 2016, 08:36:28 AM
The chances are pretty much non existent as proven. It should not come as a surprise to anyone tho that the chances are so small. Even if it is nearly impossible to win it doesn't really hurt to get a ticket. I dont play lotto often but i do get a ticket from time to time just for the fun of it.
It does actually.. Most people who buy lottery tickets in the US make $9,000.00-$38,000.00(not data but they have to that's almost the entire salary range for the US just about the entire US adult population). That's 0.02%-0.01% of their annual income which, since people typically spend the same margin of their income no matter their salary(old economic stuff), is coming out of around 11% of that salary, so at $38,000 is around $4,400.00 a year worth of disposable income. That's one ticket per year..
That's now 0.04% of that $38,000.00->$4,400.00 a year for one ticket. One ticket a week is 2.18% and so on.. Remember kids.. we only get around 35 years of earning money before we die and if you werent gifted a house you'll spend at least a third of it towards that..
If one plays as often as this then for sure, it will become a burden. Overall the amount grows to a really big amount and will become noticable. But when you look at it this way. Would one rather get a ticket or would rather buy a (burger ? coke ? or what ever junk) then the ticket is not as bad. You get a small chance of a fortune instead of gaining weight.
Every working-poor and poor persons logic no matter how conscious and educated they are: I'm a talented investor but this $100.00 bill I have would take decades to turn in to tens of thousands or even thousands of dollars since >=100% profit is rare.. Fuck it I'll buy what looks like better odds towards prosperity..
They are actually right too, but that slow grind that only your next generation will benefit from has far better odds. A shitty $23,000 house is even better than hurry up get a job before thousands of dollars in bills comes in thirty more days..
January 14, 2016, 08:22:16 AM
Even though the odds of any one of us winning are next to none, three winning tickets were sold!
January 14, 2016, 06:06:48 AM
The chances of winning are pretty low however it is much higher than if you did not buy a ticket. You have to be in it to win it. If you do ever win big it is down to chance or luck lottery is almost always gambling at a loss. Better putting that couple of bucks on a horse or something with better odds.
January 14, 2016, 05:52:00 AM
The chances are pretty much non existent as proven. It should not come as a surprise to anyone tho that the chances are so small. Even if it is nearly impossible to win it doesn't really hurt to get a ticket. I dont play lotto often but i do get a ticket from time to time just for the fun of it.
It does actually.. Most people who buy lottery tickets in the US make $9,000.00-$38,000.00(not data but they have to that's almost the entire salary range for the US just about the entire US adult population). That's 0.02%-0.01% of their annual income which, since people typically spend the same margin of their income no matter their salary(old economic stuff), is coming out of around 11% of that salary, so at $38,000 is around $4,400.00 a year worth of disposable income. That's one ticket per year..
That's now 0.04% of that $38,000.00->$4,400.00 a year for one ticket. One ticket a week is 2.18% and so on.. Remember kids.. we only get around 35 years of earning money before we die and if you werent gifted a house you'll spend at least a third of it towards that..
If one plays as often as this then for sure, it will become a burden. Overall the amount grows to a really big amount and will become noticable. But when you look at it this way. Would one rather get a ticket or would rather buy a (burger ? coke ? or what ever junk) then the ticket is not as bad. You get a small chance of a fortune instead of gaining weight.
January 14, 2016, 03:49:24 AM
I heard that post-tax the clear profit will be approx. $300 million but I would think it is going to be much more than that perhaps $600 million. I am not familiar with the US taxation system anyways.
January 14, 2016, 02:17:45 AM
Lotery= Tax for Idiots
January 14, 2016, 02:13:45 AM
This is not a new thing and everyone is aware of it. I'm not surprised, TBH.
January 14, 2016, 02:09:29 AM
Thier business trick is like this .
" I don mind spending a $2 on a ticket a month or so to try out my luck "
Ching Chang heres comes the money .
" I don mind spending a $2 on a ticket a month or so to try out my luck "
Ching Chang heres comes the money .
January 14, 2016, 01:59:52 AM
I think most people are aware of this, that there is almost no chance of winning anything from these Lotteries but still they are not worried about throwing away a few dollars on them because it gives them a hope. Its foolish but can't tell people how they shouldn't spend their money. There are people who still fall for Ponzi/HYIP/Cloud-Mining schemes, I put them in the same category.
January 14, 2016, 01:23:09 AM
Someone said that lotteries are a tax on the mathematically-challenged, and I'd agree with that. Chances are next to zero, and the odds are against you always, so why play at all? For some people it's fun, but I hate throwing money away like that.
Some people just want to try their luck, they view it as only a few dollars for the ticket, and they might get lucky and win the jackpot.
There's huge odds against them, but they buy in the hope they might win the huge jackpot. I don't think these people play for profit like poker players do.
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