Re: the offered to quit playing lottery thread

Reply #14

Coin Toss — Sun, 16 Jul 2006 17:54:20 GMT

fxsterling

Luck never gives, only lends

Swedish proverb

Reply #13

fxsterling — Sun, 16 Jul 2006 16:01:40 GMT

Last night I had this problem I offered $ 50.00 to the wheel of fortune God and she gave back $250.00 could have walk was headed out the door but stopped and gave back the money I'm still up for the year When I traded commodities at the BOT /merc I always used stop-loses or if on the floor I would leave Got to get back to a system based on profit not luck

Reply #12

Badger — Sun, 16 Jul 2006 11:56:38 GMT

A bird in the hand is worth two in the bush. Always take the sure thing.

Reply #11

justxploring — Sun, 16 Jul 2006 07:25:10 GMT

I watched a show called Deal or No Deal a few times this year. Most of you probably are familiar with it. I kept thinking that some of the contestants had to be out of their minds turning down huge offers when the odds were stacked against them, much less than 50/50.

Definitely always take the sure thing.

Reply #10

RJOh — Sun, 16 Jul 2006 07:11:20 GMT

That story reminded me of a co-worker I knew years ago before I retired. He played the Ohio SuperLotto game and would alway brag when he matched 4of6 for a hundred bucks or so and then he matched 5of6 for $1500 and he went to his grave remembering that as the time he missed winning an eight million dollars jackpot by one number.

Reply #9

Coin Toss — Sun, 16 Jul 2006 05:33:12 GMT

This kind of fits here, just something to think about.....

This is from the book True Prosperity, How to Have Everything

by Yehuda Berg:

A stock trader on Wall Street worth $50,000,000 loses half his fortune in one day, when the market crashes and causes his net worth to fall to $25,000,000. Meanwhile, on the same day, a mailman in Wichita sells a stock short and doubles his $10,000 saving to $20,000.

Who goes to bed that night with peace of mind and a deeper sense of security and

Reply #8

wannawin24 — Sun, 16 Jul 2006 01:54:15 GMT

Smart man, I would've also taken the guranteed money. 50/50 chance he could or couldn't have the winning team.

Reply #7

RJOh — Sun, 16 Jul 2006 01:32:56 GMT

There was a similar story in the LP news section a year ago about a NY lottery drawing for $1M with four finalist. Three of them agreed if one of them won the prize they would split it equally with the others. One of them won and all three went home with $330K and the forth one went home with nothing but the thought had he won he would have gone home with the whole $1M. For him I guess the thought of winning $1M was worth more than $250K for sure.

Reply #6

Tenaj — Sun, 16 Jul 2006 01:10:46 GMT

A bird in the hand is better than one in the bush.

African Proverb

Reply #5

konane — Sun, 16 Jul 2006 01:09:54 GMT

Reply #4

CalifDude — Sun, 16 Jul 2006 01:08:26 GMT

Thank you Coin Toss. I can see how that quote could be appropriate here on LP as well.

Reply #3

Coin Toss — Sun, 16 Jul 2006 00:59:16 GMT

Too bad people don't team up like that more often.

CalifDude

Here's another Lincoln for you:

America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.

Abraham Lincoln

Reply #2

CalifDude — Sat, 15 Jul 2006 22:10:49 GMT

He did the right thing, IMO.

I used to play in a blackjack tournament about once a month. I almost always got to the top table. The top table has 7 players. We can play or decide to split the money. Every time I have played we split the money. So everyone is guaranteed a nice win. Yes, if we played to the end instead of splitting, the winner would get $1000 and the 7th place gets $200, but most of us agree that guaranteed money is better. Nobody leaves with only $200

Reply #1

CARBOB — Sat, 15 Jul 2006 22:06:52 GMT

I would have taken the offer also in both situations, with no second thoughts.

Re: the offered to quit playing lottery thread

Coin Toss — Sat, 15 Jul 2006 22:02:09 GMT

There's a poll about if you were offered $1,000,000 to quit playing the lottery, would you?

Made me think of this story, true story, on a smaller scale:

One of the casinos I worled in had football contests every week, for $5 pick 14 out of 14 and win $25,000, for $10, $50,000.

One of the security guards played a $5 ticket, and has all 13 right on Sunday. So now, if he hwas the right team on Monday night, he wins $25,000 - if he has the wrong team, he gets nothing.

What pro gambler... [ More ]