Richard Lustig on TV

Reply #21

ameriken — Mon, 02 May 2011 04:56:05 GMT

Actually, whatever he is doing to win, I think it is great and I can't begrudge him that. He spent a lot, played it well, and got his due returns.

As for his book however, he can stick it up right behind that horseshoe.

Reply #20

rdgrnr — Mon, 02 May 2011 03:49:59 GMT

Lustig is a one-man lottery pool.

He buys a lot of tickets and pays for them himself.

He wins more often and gets to keep the winnings all to himself.

And he may also have a horseshoe stuck up where the sun don't shine.

Reply #19

ArtieMcD — Sun, 01 May 2011 11:46:07 GMT

What are these people doing that they win so much ??

Spending a lot of money and time scratching off tickets.

Reply #18

ArtieMcD — Sun, 01 May 2011 11:44:53 GMT

It's worse that that... Richard saved $17,000 in taxes that year by writing off his losses.. But to save $17,000 in taxes you had to have spent $60,700 in losing ticket to have done so (in the 28% tax bracket).

Richard's only secret is he plays (and loses) a lot of money every year on the lottery... When you play a lot, you win a lot.... You also lose more often and if he keps going at this rate, it's only a matter of years before he spends (after taxes) all his Mega Money winings (hit... [ More ]

Reply #17

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Reply #16

joker17 — Sun, 01 May 2011 03:15:54 GMT

What are these people doing that they win so much ??

It's simply an illusion that these folks seem lucky.

As an example, when you have a sea of possible multiverses that for the most part, are not viable for life to emerge, and then you have one universe that has all the right ingredients for life, the inhabitants of that universe feel as though they are special. When in fact, the reality is that they just happened to be in the right place at the right time. Nothing special there, one... [ More ]

Reply #15

James1 — Sun, 01 May 2011 02:46:13 GMT

Ok the last 3 are impressive but you would expect much more from someone with the amount of fame he gets. Lets not forget up to 50% of his winnings went to taxes, so really he has not pulled in that much at all given the amount he spends. Id much rather hear the secrets of that Texas women who has won so many millions off of scratch offs and lotto and Robert Marsh of Florida won won $1 MM and $10 MM on the same game a year apart. What are these people doing that they win so much

Reply #14

Win$500Quick — Sat, 30 Apr 2011 09:47:56 GMT

Grand prize of $10,000 in Millionaire Magic scratch-off in 1992

Fantasy 5 in 1997 for 13,000

Trip to California in a second chance drawing

Trip to Graceland in a second chance drawing

Mega Money jackpot of more than $842,000 in 2002

Fantasy 5 in 2008 $73,000

Fantasy 5 in 2010 for $98,000

* No wins from 2002-2008. I personally don't care for the trips won from second chance drawings. Show me the money.

Reply #13

James1 — Sat, 30 Apr 2011 04:56:44 GMT

Ok so this guy has won Mega Money and Fantasy 5 jackpots. What are his other 5 big wins then

Reply #12

rdgrnr — Sat, 30 Apr 2011 03:20:32 GMT

Kudos on the $555 Grouper win!

Hmmm... Looks like quick picks might be the best way to go then.

Reply #11

Win$500Quick — Sat, 30 Apr 2011 02:42:45 GMT

What I have learned over the years is everyone plays the lottery differently. What works for one person may not work for someone else. What worked last month may not work this month. I change strategies every month. Yesterday I bought a grouper which consist of all quick picks and won $555 in the Fantasy 5. Got 5 Ruby Red scratch-off in a row and I lost on all 5 tickets. So his method would not have help me. BTW, I have always saved my losing tickets.

Reply #10

B$Rizzle — Fri, 29 Apr 2011 19:13:37 GMT

ha ha I figured thats what you meant =)

I get the same way

Reply #9

Mr-Smith — Fri, 29 Apr 2011 16:36:00 GMT

Thanks for the correction.

I should not type when pissed....lol.

Reply #8

B$Rizzle — Fri, 29 Apr 2011 15:58:02 GMT

I believe that was his first win and it was more like $895,000 or something like that on Mega Money here in FL. His 7th win I think was 98,000. You may have meant 98K not 908K

But I agree with you, I dont see why the he11 this guy is even getting on TV. All he does is spend a sh*t ton of $$ on lottery daily and gets lucky. Anyone can do that with the amount he is spending.

Reply #7

Mr-Smith — Fri, 29 Apr 2011 14:39:49 GMT

Plus his last win was for 980k (the number 7 win).

And we all know that ANY lotto win is tax almost half !!!!

So where is this so called 1 million?

I just hate that people are so easily put on a pedistal for Dumb S***T.

Reply #6

sully16 — Fri, 29 Apr 2011 14:23:08 GMT

yep, he's over-rated.

Reply #5

Mr-Smith — Fri, 29 Apr 2011 14:21:39 GMT

Why in hell is he on TV?

1 million in 10 years and writes a book? It was said that HE spends about 17k a year on tickets, on one of his blog interviews.

So maybe I'm crazy but 17k a year for tax write offs, 1 million in 10 years it is not adding up..

Am I missing the point here?? What is the Hype

Reply #4

RJOh — Fri, 29 Apr 2011 02:10:38 GMT

Granted the odds on scratchers are in the 1:5 range but there's no lock in buying ten and getting a winner.

True but if you keep buying 10 in a row when those winners bunch up, you'll still get some in the end. The point I was making Richard Lusting advice was for some one like himself who spends a lot on lottery tickets. For the players who never buy more than a couple of tickets at a time, none of what he says makes any difference.

Reply #3

Coin Toss — Thu, 28 Apr 2011 22:32:12 GMT

RJOH,

Granted the odds on scratchers are in the 1:5 range but there's no lock in buying ten and getting a winner. It just doesn't work that way. The winners may come once in every five or ten tickets, but more likely maybe two or three in a row out of thirty tickets and then another dry spell.

In the long run it works out to 1:5, sure, but that doesn't guarantee or two winners out of every ten.

People get slaughtered on dice tables trying to apply that kind of approach to betting 2 or 1... [ More ]

Reply #2

RJOh — Thu, 28 Apr 2011 17:10:30 GMT

You probably don't spend enough on lottery tickets to use his advice.

1) Save losing tickets to use when filing taxes

If you win a $10,000 prize or more your losing lottery tickets may help push your loses to more than the standard deduction of ~$7,000 which you get normally.

2) Don't buy quick picks

If you're buying 25 or more tickets per drawing, then you want to avoid duplications of 4 numbers combinations to increase your coverage and you can't guarantee that buying QPs.

3) Wh... [ More ]

Reply #1

Coin Toss — Thu, 28 Apr 2011 14:15:58 GMT

He's been discussd here before.

https://www.lotterypost.com/thread/222942

Note FLATRANSPLANT'S comment early on page 1 of the thread

Richard Lustig on TV

miss9 — Thu, 28 Apr 2011 13:38:10 GMT

Yesterday, Apr 27th, Richard Lustig was on the Rachel Ray show, pushing his book revealing 3 of his big tips :

1) Save losing tickets to use when filing taxes

2) Don't buy quick picks

3) When buying scratch-offs, buy 10 in a row of the same kind

I didn't learn anything fom him but maybe someone else will.

I'm sure you can catch the show on-line, too.