truman Posted July 25, 2012 Share Posted July 25, 2012 I The lottery is, effectively, simply a tax on gullibility. I'm not gullible I understand the odds but I can afford to lose a pound a week so it's not a problem.. Link to comment Share on other sites More sharing options...
Rupert_Baehr Posted July 25, 2012 Share Posted July 25, 2012 ...You can't win bugger all if you don't buy a ticket Err... Surely that's not the case? When scratch cards first came out, it was claimed that 'One in Ten is a winner!' That 1 in 10 included those cards where the punter merely got his/her money back. If you buy a scratchcard and you get your money back, you are a winner! So if you don't buy a scratchcard and you don't lose your money in the first place, surely you're a winner there, too? Link to comment Share on other sites More sharing options...
ChrisT70 Posted July 25, 2012 Share Posted July 25, 2012 Someone won a million pounds the other month at one of the supermarkets in Woodseats on a five pound scratch card, you don't buy em you don't have the chance for that to happen to you I say, If you can afford it then why not at least you have a chance then of living up so to speak...You can't win bugger all if you don't buy a ticket isnt the quote you've got to be in it to win it! Link to comment Share on other sites More sharing options...
CorkerSWFC Posted July 25, 2012 Share Posted July 25, 2012 Err... Surely that's not the case? When scratch cards first came out, it was claimed that 'One in Ten is a winner!' That 1 in 10 included those cards where the punter merely got his/her money back. If you buy a scratchcard and you get your money back, you are a winner! So if you don't buy a scratchcard and you don't lose your money in the first place, surely you're a winner there, too? I'm always confusing misen not to worry, as long as I know what i meant Link to comment Share on other sites More sharing options...
CorkerSWFC Posted July 25, 2012 Share Posted July 25, 2012 isnt the quote you've got to be in it to win it! That's the one Chris, I thank you lolol Link to comment Share on other sites More sharing options...
onewheeldave Posted July 25, 2012 Share Posted July 25, 2012 Someone won a million pounds the other month at one of the supermarkets in Woodseats on a five pound scratch card, you don't buy em you don't have the chance for that to happen to you I say, If you can afford it then why not at least you have a chance then of living up so to speak...You can't win bugger all if you don't buy a ticket It's possible to win more on the lottery than you spend on tickets, just very, very unlikely. Bear in mind that the million pound winnings are paid for out of the much larger number of people who lost. It's true you can't win if you don't buy a ticket- equally, you can't lose either Link to comment Share on other sites More sharing options...
onewheeldave Posted July 25, 2012 Share Posted July 25, 2012 Originally Posted by onewheeldave View Post I The lottery is, effectively, simply a tax on gullibility. I'm not gullible I understand the odds but I can afford to lose a pound a week so it's not a problem.. You're not gullible if you understand the odds, and you're aware that, in the long run, due to the nature of those odds, you're onto a surefire loser. The only meaningful measure of a good vs a bad gamble is by comparing the money in (tickets) to money out (winnings). If money in exceeds money out, then you've got a bad gamble. e.g. if tickets are £1, 100 people buy them and the prize is £120, then that's a good bet- play it many times and, by the end, you're statistically likely to be making a profit. if tickets are £1, 100 people buy them, and, the prize is £80, you'll end up out of pocket. The bad news is that no-one runs a lottery like the former- any house running a lottery will want to make, not just a profit, but a big profit: lotteries are always a bad gamble. Link to comment Share on other sites More sharing options...
truman Posted July 25, 2012 Share Posted July 25, 2012 Originally Posted by onewheeldave View Post I The lottery is, effectively, simply a tax on gullibility. You're not gullible if you understand the odds, and you're aware that, in the long run, due to the nature of those odds, you're onto a surefire loser. The only meaningful measure of a good vs a bad gamble is by comparing the money in (tickets) to money out (winnings). If money in exceeds money out, then you've got a bad gamble. e.g. if tickets are £1, 100 people buy them and the prize is £120, then that's a good bet- play it many times and, by the end, you're statistically likely to be making a profit. if tickets are £1, 100 people buy them, and, the prize is £80, you'll end up out of pocket. The bad news is that no-one runs a lottery like the former- any house running a lottery will want to make, not just a profit, but a big profit: lotteries are always a bad gamble. I know all that,but as I said before..a quid a week won't be missed....I'm up on it this year anyway... Link to comment Share on other sites More sharing options...
Leah-Lacie Posted July 25, 2012 Share Posted July 25, 2012 My OH has a theory that £5 cards are more likely to win than a £2 card, and in turn the £2 cards are much more likely to win that a £1 card. He reckons he, and anyone else he has seen buy one, nearly always have a win on a £5 card, and hes dying to buy the £10 one as he thinks a win is almost guaranteed. I won't let him, but I might let him after reading this, just to prove him wrong! Link to comment Share on other sites More sharing options...
sedith Posted July 25, 2012 Share Posted July 25, 2012 Scratchcards are a hidden tax on stupid people Link to comment Share on other sites More sharing options...
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