Why Choose Lottery Instead Of Anything Else? - page 14.

btc78

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Quote from: mu_enrico on August 04, 2019, 08:25:26 AM

People need hope, and this exactly what they are selling. Also, humans tend to overestimate their winning chance. It's called positive bias.

I love the word Positive Bias,though this was the first time I read this but I think it’s trithf that people sometimes or mostly has this idea and also applicable for me since I use to feel this same way ..people bet for lottery for a chance of winning huge with a tiny chance tha a normal gambling that gives higher chance of winning

Quote

The funny thing is I also like the lottery the most, despite knowing all this stuff.

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,still I managed to bet for my own number as well 🤪

Babyrica0226

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Quote from: RivAngE on August 04, 2019, 06:00:38 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

Probably, they choose to play lottery the number 1 reason is the price was too cheap but you could win big, if you are lucky person.
Aside from that no hassle, you don't need to pressure yourself of think how you going to win, instead all you need is to place a digits
in which you think is lucky for you.

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Quote from: Ryker1 on August 05, 2019, 06:11:17 AM

Quote from: michellee on August 05, 2019, 05:12:39 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.

Right, we could let them choose what they want, but at least, we could tell them that what they did is not right. They can have a dream to win the jackpot from the lottery, but that doesn't mean they should spend a lot of money to buy the ticket. I am sure that if we can explain to them not to spend too much money and it's better to use for another thing, I think they will understand. But that will depend on what they think of about the lottery, and I know that it will hard to change their perception about the lottery.

Hypnosis00

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Quote from: swogerino on August 05, 2019, 07:01:38 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.

We could think that the lottery isn't gambling but they are...besides, a lot of people get addicted to this than of the other form of gambling because of its attractive prize...
And lottery games is just like the others, it needs luck and not a miracle...You'll be a lucky person if you won the jackpot cause of numbers in combination.

Sebas.tian

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Quote from: aioc on August 04, 2019, 07:32:48 AM

Great video for reference, but even if you invite lottery bettor to watch the video, I don't think they will be come converted and will not bet anymore, they are following their dreams, every bettor is a dreamer and they are betting with their hopes.

Exactly mate, personally my dream is to make more money in the gambling industry and have keep to that till date and not going back. Jackpot is a nice means to make good money but also relay on luck like that of gambling, my dream have paid me well some few years ago and wouldn't like to deviate from my dream of becoming a millionaire in gambling.

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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...

swogerino

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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.

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Quote from: dothebeats on August 04, 2019, 06:09:32 AM

One main reason I can think of is probably low stakes, high rewards. We all know that greediness is, by default embedded within a human's psyche, ergo rendering us hungry for a high roll without risking a lot in the process. This has been pretty evident to the nature of gamblers, though there are still people who are willing to go nuts to chase losses etc. There also goes the factor of "feeling lucky" that some people carry on with them. It's a flawed belief, but given the low stakes of a lottery, why not go for it and hope to hit the jackpot, aye?

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.

acroman08

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Quote from: RivAngE on August 04, 2019, 06:00:38 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

just like what other said low stake high rewards. also you don't have to spend hours on a casino or online just to play it. most people who gamble in lottery
are doing it for convenience and just hoping that they would win and it is also stress free.

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Quote from: Best Dreams on August 04, 2019, 04:09:58 PM

Quote from: mu_enrico on August 04, 2019, 08:25:26 AM

People need hope, and this exactly what they are selling. Also, humans tend to overestimate their winning chance. It's called positive bias.
The funny thing is I also like the lottery the most, despite knowing all this stuff.

It is good to have lottery ticket and it actually made allot of people rich but I consider it little risky as you will not be sure about winning but if you are lucky trust me lottery ticket can make your future so bright. Better buy some ticket but with well trusted sites only and before sending money ask for historical preview.

Well yes lottery can make you a quick rich person if you win but better to deal with it from where you are, make sure to buy ticket with outlets that's really authorized, if you win a big changes in your life will happen along the way so better to secure your tickets from trusted sites or outlets.

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Quote from: michellee on August 05, 2019, 05:12:39 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.

michellee

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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.

BitcoinHunt3r

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Maybe my answer will almost same with others, lottery can give biggest reward than other gambling maybe, because in other gambling games maybe a lot of odds is available and we can pick anything that we want to bet. But lottery sometime can change people's life although it is on bad or good side.

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Quote from: RivAngE on August 04, 2019, 06:00:38 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

The reward you get on winning is extremely high and that is what is making people to preferred lottery to other games. I have a family friend that win a house and job through lottery and that makes me believe that it is better to play it than other form of gambling.

LogitechMouse

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Quote from: RivAngE on August 04, 2019, 06:00:38 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.

I think one reason is it doesn't need necessary skills in lottery aside from luck. If there is a skill that is needed to win in gambling, kindly say it here because for me, lottery is purely luck unlike card games.

Quote from: RivAngE on August 04, 2019, 06:00:38 AM

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.

Well, this is the reason why I don't want to invest that much in gambling because I'd prefer investing it on stocks or crypto rather than in gambling. Gambling is high reward and high risk investment unlike stocks that is low to medium risk and low to medium reward.

Darker45

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I can pretty much speak for myself and others on this. I bet on lottery every once in a while because of the very huge winning prize. Here in my country, the prize could reach as high as $16,000,000. There is no other way to acquire such massive amount of wealth for us ordinary citizens, legally or illegally, but by betting on a lottery number combination. The almost unbelievable amount is so enticing that even the rich and the elites are also betting on it. And how much does a single combination cost? A mere 4 cents.

So my question is, would you even be thinking of the very low probability of winning if by a mere 4 cents you can already have the chance to acquire $16,000.000?

Moiyah

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People are hoping to get rich with lottery tickets with cheapest price and huge amount of prize but yeah I still prefer gambling websites. There's an issue in our country regarding lottery outlets and they suspended the operation for about 5days, in regards with this I must say a lot of people got angry with it. There is nothing wrong if we also consider both lottery and gambling sites at the same time.

Best Dreams

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Quote from: mu_enrico on August 04, 2019, 08:25:26 AM

People need hope, and this exactly what they are selling. Also, humans tend to overestimate their winning chance. It's called positive bias.
The funny thing is I also like the lottery the most, despite knowing all this stuff.

It is good to have lottery ticket and it actually made allot of people rich but I consider it little risky as you will not be sure about winning but if you are lucky trust me lottery ticket can make your future so bright. Better buy some ticket but with well trusted sites only and before sending money ask for historical preview.

finaleshot2016

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Quote from: dothebeats on August 04, 2019, 06:09:32 AM

One main reason I can think of is probably low stakes, high rewards. We all know that greediness is, by default embedded within a human's psyche, ergo rendering us hungry for a high roll without risking a lot in the process. This has been pretty evident to the nature of gamblers, though there are still people who are willing to go nuts to chase losses etc. There also goes the factor of "feeling lucky" that some people carry on with them. It's a flawed belief, but given the low stakes of a lottery, why not go for it and hope to hit the jackpot, aye?

Low stakes, and yet the probability of getting a win is almost 0%. It's kinda hard to tell if you will win or not because there's a lot of people that is risking also their money for the huge jackpot. There are also many digits so the difficulty is very high so I won't play lottery.

Oceat

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I think it is because of the lottery jackpot prize and with the amount that they have to spend on a single ticket. Unlike gambling in a casino, it does requires a lot of huge bankrolls before you win big time but most of the time you will end up losing. I think most people especially poor people like the lottery because they don't need to spend a lot of money for their wish.

Topic: Why Choose Lottery Instead Of Anything Else? - page 14. (Read 7580 times)