Why Choose Lottery Instead Of Anything Else? - page 13.

Naida_BR

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Quote from: RivAngE on August 04, 2019, 05:00:38 AM

So I've been wondering a lot time now why some people choose to play lottery which is made in such a way that it's statistically impossible to win and not any other game that gives about 49% chance to win? In online crypto-gambling there are a lot of such services.

Personally I'd advice against gambling overall (ye I know I wear a gambling signature at the moment!) but if someone insists on playing something without thinking or using skills, then why not buy a random stock? That'd give them 50% chance to win and with some research they could increase this chance.

I found this nice video a day ago, it tells the truth about lotteries in a funny way: https://www.youtube.com/watch?v=9PSWTDhHGt4

A very good point is made at 2:55 about the probabilities
Also at 4:07 they lottery in comparison with gambling and stock market in a funny way... "we take away all the skill of blackjack or poker just to make sure we have the best chance of getting your money"! Cheesy

Lottery is the game that can bring high profits that would be life changing.
Of course the possibility of winning is the least of any other gambling game, yet people believe that they are going to be the winners and they prefer lottery over other gambling games with lower profit margin.

jrrsparkles

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Biggest rewards in gambling industry comes from lottery even it could be in millions so everyone who wishes to change their financial life keep playing lotteries.But the reality of winning in lottery is extremely low even in our life time it may not happen even if we keep playing everyday.

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Quote from: goinmerry on August 06, 2019, 02:39:37 AM

Quote from: RivAngE on August 04, 2019, 10:54:10 AM

So I guess the main reason is greed... people want to invest as little as possible and get as much as possible in the shortest possible time... that's kinda discusting!
Put some freaking effort damn it! No wonder that even people who win a lottery won't become more happy, their whole mindset is wrong and they should work on that first instead of thinking money will solve all their problems.

I agree. It is definitely greed. People these days would love to do anything to earn lots of money even if they risk almost everything they have. They want to earn fast and easy.

It is true that you invest a little betting in lottery but also there's a little possibility to win. So it's not being wise at all. As long as they don't win or never satisfied with their lottery winnings, they will never stop trying. Just imagine the money they lost from it.

That's why people should not always choose lottery to invest their money in but also try to do other useful ways for them to earn money.

Greed is indeed one of the primary reasons why people do really love to bet up on lotteries in spite of the odds of winning.We cant really blame everyone yet its part of human nature
to seek up things that can give them such life-changing opportunities.We know on how much these lottery winnings can give out that chance to live out like a king of hitting the jackpot this is why some people just bet and just hoping and praying even if they would need to bet like forever.

Johnzky

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Quote from: Indrawan77 on August 06, 2019, 11:21:34 AM

People want to spend minimum to get the maximum result, so some people choose lottery although they know that the chance of winning is really small, lottery consider one the worst game to play due to the low odds to win, but when some people win and become headline news there will be some people become jealous and want to win

And also maybe that’s why Lottery is the most choice of people because this is the first Legal gambling in many countries and the first gambling also that supported by governments.so people tend to follow the rules and become part of their daily living,and besides this is also the cheapest form of gambling

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Quote from: Rufsilf on August 05, 2019, 05:28:35 AM

Indeed, people will always go with high rewards with lesser investments that is why many will choose lottery instead of anything else. Feeling lucky and greediness are the factors that made people want lottery because aside from low investment, it doesn’t really need so much effort or you don’t have to think of a strategy, you can just select random numbers and just wait for your luck.

The money for lotteries can easily be afforded and don’t forget that there are a very high number of those who want to make money from gambling but do not have the required skills. So, most of the times they also see lottery as gambling and the fact its cheap and very affordable would make them give it a trial.

This for me is waste of money, sometimes this little money when calculated becomes big and yet not signal of being a winner. I had one friend that has bought ticket for over 200 times and the day he realized he has been wasting money was when he stopped. He could have actually predicted a sport game with same money and stand a good chance of winning. He decided to start betting properly and hes been doing amazingly well with normal bets than the usual deceptive lottery ticket stuff.

goaldigger

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This how people think.

If you say 1/10 individuals has a probability to have an HIV then then will say they impossibly be the one but if you say there are 292 million odds of winning a powel ball, they will say they have the chance.

Who else doesnt want betting a dollar and winning millions of it after?

Indamuck

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People like to chase the big jackpots that a lottery provides even though the odds are a lot lower overall compared to blackjack. Also many lotteries are used to fund government programs like the public education system.

ethereumhunter

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I think it because people can buy lottery with cheap price to get big prizes. They can use the minimum amount of money to buy the lottery, and they can do it for fun and don't think much about the prizes or even the jackpot. They can let it go if somehow they cannot win the money and they will try in the next days just hope that in the next days will be their luck. I think lottery games is one of the big gambling business that attracts more people to come and try the games and they are making a lot of money from the people.

shoreno

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why not ? lottery always known to have a high prize pool . that would be millions and billions whilst other kind of gambling games only have a limited set of prize . thier max would only be 1 btc or it could rise up to 5 btc if the gambling site is huge and have alot of funds or sponsors .

but , this would not mean that regular gambling games are bad but infact they got the most players as when compare to lottery players because lottery is almost impossible to win .

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Quote from: RivAngE on August 04, 2019, 10:54:10 AM

So I guess the main reason is greed... people want to invest as little as possible and get as much as possible in the shortest possible time... that's kinda discusting!
Put some freaking effort damn it! No wonder that even people who win a lottery won't become more happy, their whole mindset is wrong and they should work on that first instead of thinking money will solve all their problems.

I agree. It is definitely greed. People these days would love to do anything to earn lots of money even if they risk almost everything they have. They want to earn fast and easy.

It is true that you invest a little betting in lottery but also there's a little possibility to win. So it's not being wise at all. As long as they don't win or never satisfied with their lottery winnings, they will never stop trying. Just imagine the money they lost from it.

That's why people should not always choose lottery to invest their money in but also try to do other useful ways for them to earn money.

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Quote from: Ryker1 on August 05, 2019, 05:11:17 AM

Quote from: michellee on August 05, 2019, 04:12:39 AM

We know that lottery has attracting many people to buy the ticket with a very low price so they can buy a lot of tickets and hope that one of their tickets can win the money, any money. But the truth is that the lottery is pure base on the luck so we are difficult to see we can win the money even to win the jackpot. We all too greedy to buy a lot of tickets and we spent too much money because we think that lottery can give fast money to us, but the reality is just a game that needs the luck to win.

Indeed right, the lottery game is based on luck and it is hard for anyone acquiring the massive amount of the prize pool on a lottery. The odds are low chances and the value of tickets to purchase is very cheap. That's why people that want to rich quick are hoping and dreaming that someday they will hit the prize pool of lottery and live happily ever after and an early retirement once you hit the jackpot prize. Well, we can't blame that there are some gamblers must they choose lottery than other gamble game.

I have a contrary belief, I am not really into lotteries because of how cheap it is and I belief I would still do it if it was way more expensive. The reason I would choose lottery is because I understand its strictly a game of chance and I am quite so optimist that luck would always be on my side and even though I do not win instantly, I could keep on playing believing that the time is just not ripe for me.

This cannot be compared to other games that you have to put in a lot of skills, research and also more money and at the end of the game still get fucked up because the house is always the winner. That’s bullshit. Rather stay on a game that you know its complete luck based. No manipulation whatsoever, this is my pure reason why I choose lottery and would again choose it over all forms of gambling.

RivAngE

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Quote from: buwaytress on August 05, 2019, 06:07:06 AM

Not all lotteries are as you describe. The two popular ones i know in crypto give you precisely the statistical odds of winning as your # of tickets. These are freebitco.in and crypto-games.net it's just a prize pool split completely with the winners.

In the former tickets are even free, in the latter edge is 0.

Now of course I know the ones you are referring to. But you see, we're talking about the chance to win millions for a low initial outlay.

Even at dice, with a max payout at most places around 10,000x, 1 dollar gets you 10k.

I buy those million dollar payout lotteries too, knowing very well the odds are insanely stacked.

But hey, that's still a shade better than 0 chance if I don't buy it. Also, I quit smoking. I now spend a fifth of my savings from that habit on the lottery haha...

I suppose there are provably fair lotteries too, where you know the exact chances of winning, that's a bit better than having to calculate the chances yourself and depend on some numbered balls, but the chance are always higher with games that require some skills.... as long as you have the skills that is! Cheesy

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Quote from: mu_enrico on August 05, 2019, 08:45:50 PM

Quote from: btc78 on August 05, 2019, 09:24:36 AM

people bet for lottery for a chance of winning huge with a tiny chance tha a normal gambling that gives higher chance of winning

The problem is, it's not "tiny chance" but you are more likely to get struck by lightning than to win a lottery, lmao Grin

Quote from: btc78 on August 05, 2019, 09:24:36 AM

Cheers on that mate.my grandfather always asked me to bet for him in lottery outlet and ofcourse aside from his bet that I know I am part of if he wins

That's an excellent bonding activity Grin

I think the lottery is not a problem for us, who seek entertainment or the "fun" part of the game. However, I feel bad for people who really hope to win a lottery, since it is most likely to never happen in their lifetime.

I have known a friend who is really fanatic about lottery and he always make sure that he has bought tickets everytime he was given lucky digits to bet. I feel sad for him because he has never win big amount of profit since the time he started lottery gambling. I can't imagine how big is his loss already which only keeps him losing everytime he buys another ticket to bet.

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I'm personally not a big fan of lotteries myself and I likely won't ever be a big lottery ticket buyer, but my dad always buys lottery tickets and he says that he buys 'em instead of other forms of gambling because of the potentially immense payout despite the miniscule odds to win. The chances to win are also why people choose to gamble in general, even though you've got house edge on most casinos and you're statistically going to lose in the long run. The latter's a big reason why I hardly ever buy lottery tickets and why I tend towards other games like roulette or just sportsbetting.

mu_enrico

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Quote from: btc78 on August 05, 2019, 09:24:36 AM

people bet for lottery for a chance of winning huge with a tiny chance tha a normal gambling that gives higher chance of winning

The problem is, it's not "tiny chance" but you are more likely to get struck by lightning than to win a lottery, lmao Grin

Quote from: btc78 on August 05, 2019, 09:24:36 AM

Cheers on that mate.my grandfather always asked me to bet for him in lottery outlet and ofcourse aside from his bet that I know I am part of if he wins

That's an excellent bonding activity Grin

I think the lottery is not a problem for us, who seek entertainment or the "fun" part of the game. However, I feel bad for people who really hope to win a lottery, since it is most likely to never happen in their lifetime.

Noilee

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Quote from: DoublerHunter on August 04, 2019, 08:50:36 AM

Because people believing in luck and the prize pool in lottery gambling is quite a huge amount. So, they keep hoping that one day the luck will be them. Although it is unlikely that you will win, if you will hit the prize pool you will win a lot. While there are some people they want to earn huge money in the shortest amount of time possible. Because lottery gambling is NO skill required, NO studying, NO technical analysis, just buy and buy more tickets. It is unilateral, totally based on luck and does not discriminate.

Agree, because every gamblers usually play lottery that they could win instantly. Like when you bet only small amount then you can win a big amount. Thats why amost people always trying their best to play lottery, that this game of luck that no need some skills to use for to win.

seoincorporation

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Because low odds to win means a big prize. This way you don't need to play with a big bankroll to hit the moon, a $1 lottery ticket could make you earn millions with the right luck... as you say, it's almost impossible to win, but those who win it instantly become rich.

One fun fact about this is, if you read about testimonials who win the lottery, most of them say it ruins their lives.

Bitinity

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Quote from: swogerino on August 05, 2019, 06:01:38 AM

People who only buy the national lotteries are not true gamblers,they buy tickets for cheap euros or dollars and they don't think twice,they don't expect to win,if a miracle happens their life will change for the better.

I don't understand people who buy online lottery at all,chances to be cheated are high so it is not worthy to buy these lotteries.

Why they are not true gamblers while they are risking their money in a hope to win something big? No matter the risked amount is small or big but as long as they are risking it then it is called as gambling already. If there is a high possibility to be cheated then we should play on provably fair lottery only although it is very rare in this world. Most online lottery is indeed non provably fair game but it can be changed if they want to by using blockchain technology. I believe if most online lotteries or national lotteries adapts blockchain technology then there will be much more people buy the tickets.

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Quote from: RivAngE on August 04, 2019, 05:00:38 AM

So I've been wondering a lot time now why some people choose to play lottery which is made in such a way that it's statistically impossible to win and not any other game that gives about 49% chance to win? In online crypto-gambling there are a lot of such services.

Personally I'd advice against gambling overall (ye I know I wear a gambling signature at the moment!) but if someone insists on playing something without thinking or using skills, then why not buy a random stock? That'd give them 50% chance to win and with some research they could increase this chance.

I found this nice video a day ago, it tells the truth about lotteries in a funny way: https://www.youtube.com/watch?v=9PSWTDhHGt4

A very good point is made at 2:55 about the probabilities
Also at 4:07 they lottery in comparison with gambling and stock market in a funny way... "we take away all the skill of blackjack or poker just to make sure we have the best chance of getting your money"! Cheesy

Exactly, I have same point why people waste their money and attention on lottery? even a single man will be won in out of ten thousands people. So it is really funny and negligent way. If these people have sense then definitely they will not buy lottery and if you they wanna get entertainment way or win money by sudden than better to play gambling.

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I like the video, it is an entertaining way of exposing how lottery works. And it all hits the spot. Aside from the given spot on detail on how the government take advantage of this gambling game, there is also a time where they rig a result. I think there is one in my country about this case : https://newsinfo.inquirer.net/593339/netizens-cry-655-lotto-was-rigged.

Topic: Why Choose Lottery Instead Of Anything Else? - page 13. (Read 7650 times)