How Much Money Do You Spend Playing the Lottery in a Week?

Reply #38

psykomo — Mon, 10 Feb 2014 01:06:43 GMT

awinzzzzwin^^^^??????

(1) how much money have u spent??????????????????????????????????????????????????????????????????

(2) are your winning( )?

(3) do financial loss outweigh UR win ( PLEASE PLEASE DON't AGREE R disagree W/UR POLL!!!!!

(4) What RUR favorite games 2 PLAY????????please specify BEFORE or after DARK games U LIKE?????

(5) How often do you play with play?????????please specify with UR SELF?????????

(6) Do you buy more tickets when D lotto grows to 100+Million status... [ More ]

Reply #37

PrisonerSix — Sun, 09 Feb 2014 23:56:09 GMT

I spend $4-$7 a week depending. I don't play Powerball or MegaMillions myself anymore unless the jackpot breaks $100 million. However, I do have a lottery pool that's $4 every 2 weeks($2/week) that plays Powerball, Lotto, and MegaMillions. We've probably spent more than we have won, but we keep trying.

Reply #36

Lucky Loser — Sun, 09 Feb 2014 17:18:30 GMT

Absolutely, and they key word in your very last sentence is may. If it was such that every single combination was sold and then it started over , again, with selling all of them it would be a sealed deal to have one winner each draw so long as it sold out. As it stands, repeat losing numbers along with not selling out will prevail which causes the roll overs...no winners.

L.L.

Reply #35

onlymoney — Sun, 09 Feb 2014 03:25:42 GMT

The bottom line is that If you don't have ALL the correct numbers, you won't win a JP. What happens outside those perimeters has no bearing on the odds. They never change.

World War Three could commence during tonight's PB drawing. The odds against you winning will stay the same.

Or, 3 billion people decided to play tonight's PB game in the past 2 days. The odds against you winning will stay the same. There may be more winners splitting the JP, but even this has no bearing on the 175 milli... [ More ]

Reply #34

Jon D — Sun, 09 Feb 2014 00:04:24 GMT

Whoa! Settle down LottoMetro. Don't blow a gasket now.

So you don't like nitpicking of posts? Oh isn't that the pot calling the kettle black. The historical record is there, of you doing that to myself and many others on LP. You can dish it out but can't take it? Hmmm? Then maybe you should stop doing that yourself.

And also for the record, and the historical record is there, I respond to you when you are making false statements and misinforming the LP populace. There's been about 6 or 7 t... [ More ]

Reply #33

allwins — Sat, 08 Feb 2014 22:15:57 GMT

I believe that everyone who plays the JP on any level expects to win something otherwise folks would not play.

Mathmaticial facts does not guarantee better winnings or most mathematicians would hit the big drawings.

However, I know that mathematical facts play a significant role among others methods if players decide to make it out of a paying venture (part/full job);

such as Pick 3, Pick 4, Cash 5 and state lotteries only.

The idea of winning a large jackpot for most is a borrowed f... [ More ]

Reply #32

LottoMetro — Sat, 08 Feb 2014 21:50:58 GMT

The fact that you nick and pick at literally everything in my posts shows how insecure you are. Ever since I joined this forum you have either directly or indirectly mocked virtually anything I post that doesn't align with your opinion of lottery mathematics. The jackpot/odds I provided were not intended to be a starting jackpot or even a real one. It was just an example for Pete's sake. If you REALLY want me to go to the trouble of writing out a PERFECT example, then sure I can do that. But the... [ More ]

Reply #31

savagegoose — Sat, 08 Feb 2014 20:38:25 GMT

this is my JAN balance

day spent won profit / loss

monday 19.2 0 -19.2

tue 6 14.15 8.15

wed 24 56.95 32.95

thur 14.8 0 -14.8

sat 20.8 0 -20.8

pools 8.8 0 -8.8

sup66 26 0 -26

total 119.6 71.1 -48.5

div_prefs id= div_prefs

Reply #30

Jon D — Sat, 08 Feb 2014 20:33:47 GMT

Not wanting to admit I've already proven you wrong on your application of EV I see. I'm not surprised. Did you show your work to your professor yet? Hmmm? If you did, I'm sure he/she would say, Oh LottoMetro, how many times have I told you, using EV in relation to jackpot lottery games is a fool's errand.

And you're doubling down and sticking with that garbage number $22,658,656 for your hypothetical example? That's very disappointing.

What operation in their right mind would offer a jack... [ More ]

Reply #29

Igamble — Sat, 08 Feb 2014 20:27:56 GMT

about 10-30% from the previous week winnings;so this only works if you are a good player like me.

Reply #28

jimmy4164 — Sat, 08 Feb 2014 20:23:16 GMT

Nice explanation LottoMetro. Here's a youtube video that gets at this indirectly. Be sure sure to watch to the end for the lottery example.

http://www.youtube.com/watch?v=IyATmCJf4fc

--Jimmy4164

Reply #27

LottoMetro — Sat, 08 Feb 2014 17:10:45 GMT

JonD, have you actually ever taken statistics, or do you just use Wikipedia as your trusted source? There is the temptation for me to quit responding to your idiotic posts, but I trudge on, hoping one day that you will get your head out of lala-land.

I am not talking about a single draw payout- that would be inaccurate. Using the example I posted, if someone won the jackpot they wouldn't get $22,658,656 or whatever...they would get the whole amount. I know what EV is and exactly how to calcul... [ More ]

Reply #26

Jon D — Sat, 08 Feb 2014 16:42:20 GMT

It tells a lot about the character (or lack thereof) of a person.

Reply #25

Jon D — Sat, 08 Feb 2014 16:41:00 GMT

I see that you still don't understand the fundamental flaw in your argument. You're too caught up in stroking your own ego, I get it LottoMetro. That's what you do!

You are referring to the EV of a jackpot lottery game, when in actuality you are talking about the single draw payout assuming all combinations purchased. EV is the average of a random variable over a long period of time or infinity. That's not what you are calculating.

I notice you even mention this yourself, but it yet it sti... [ More ]

Reply #24

Lucky Loser — Sat, 08 Feb 2014 16:30:49 GMT

I really enjoy reading all the responses relating to when folks think it's 'the best' time to play on a JP game. Every one of them seems to care less about playing when it's 'not worth it'...just $20-$30M to win. But, here most people are hovering around what...a $30K - $40K salary (+-)? We have loans out, bills, misc. debts, mortgages, etc. and not quite living paycheck to paycheck but, one major boo-boo, and that's it. Yet, they still have the audacity to consider even $10M not worth playing f... [ More ]

Reply #23

LottoMetro — Sat, 08 Feb 2014 16:26:50 GMT

onlymoney made it out like there was something I didn't get. So I responded with logic and math. Jimmy pointed out something very important, which I followed up on with math for those on the forum who may not know what he was talking about. I didn't intend to take the thread off track, but if it is against the rules to clarify my posts or provide deeper explanations, then be my guest and complain.

You claim I use garbage numbers or misapply terms, but apparently you know nothing about statist... [ More ]

Reply #22

CDanaT — Sat, 08 Feb 2014 16:18:31 GMT

Per week ???....Well...Let's seeeeeeeeeeeeeee tapping head like Winnie the Pooh

5 goes into the 3.....times the square root of the pythagorean theorem which is cubed on Wednesday and Friday...carry the 4.... erasing the 6 because its supposed to be an 8 ......OKAY, I have it

$9.00

Unless its a 13/16's moon, during a leap year...Then it goes to $11.00..but only on alternative weeks based on my dreams, as a result of being abducted by aliens, about Nancy Pelosi getting divorced t... [ More ]

Reply #21

Jon D — Sat, 08 Feb 2014 15:37:08 GMT

Oh LottoMetro, reading your post, I am reminded of some famous words by Macbeth:

It is a tale

Told by an idiot, full of sound and fury

Signifying nothing.

Once again, you hijack a discussion and take it off topic with some meaningless unrequested mathematical gobbeldygook.

Your reasoning is fundamentally flawed. And the discussion of Expected Value (EV) with respect to Jackpot lottery games is a fool's errand. It is a misapplication of the term. Even your simplistic example is usi... [ More ]

Reply #20

IPlayWeekly — Sat, 08 Feb 2014 12:06:42 GMT

Between $20-$26 a week

Reply #19

jrosina — Sat, 08 Feb 2014 09:19:46 GMT

Since the question is how much do I spend playing the Lottery a week?

Answer: too Much, but I am a Player and a Digit Investor.... Yep, I invest in my Digits

Reply #18

LottoMetro — Sat, 08 Feb 2014 06:33:27 GMT

You're absolutely right Jimmy. I was just using a simple example.

The true expected value of any given pari-mutuel jackpot depends on the number of tickets sold. You can use either the Poisson or Binomial formula and basically just multiply the prize by the probability of only 1 winner. For example, with odds of 1 in 25,000,000 and jackpot of $25,000,000 and sales of 5,000,000 tickets, the expected value is $22,658,656 which comes out to about 91 cents (again, taxes not figured).

It is imp... [ More ]

Reply #17

jimmy4164 — Sat, 08 Feb 2014 06:22:13 GMT

Your analysis would only be correct if every jackpot winner received the full amount, $12.5M or $25M in your example. But they don't. You must notice that the higher the jackpots get, the more ticket sales increase, and more winners tend to share the pot.

Reply #16

LottoMetro — Sat, 08 Feb 2014 05:45:28 GMT

I have not used the term or implied the use of an edge. I used the term negative situation, which is completely opposite of an edge, a positive situation. Least negative is better than worst negative, and this can actually be proven mathematically. For simplicity, excluding taxes and ticket cost:

Odds of 1 in 25,000,000 with Jackpot of $12,500,000 has an expected value of $0.50 Odds of 1 in 25,000,000 with Jackpot of $25,000,000 has an expected value of $1.00

It doesn't matter that your... [ More ]

Reply #15

onlymoney — Sat, 08 Feb 2014 05:24:24 GMT

If they are going to play in a negative situation, the most logical option other than not playing is playing in the least negative situation. Hence playing during higher payoff situations.

This confirms to me you don't get it.

When you use the phrase Least negative situation , a red flag goes shows up. You're basically saying that the least negative situation somehow gives you some kind of an edge, but it in reality, it doesn't in anyway or fashion.

Reply #14

LottoMetro — Sat, 08 Feb 2014 05:13:47 GMT

Sounds like you are the one misunderstanding.

For a player, it doesn't matter that the prospect of realizing the payoff is non-existent. If they are going to play in a negative situation, the most logical option other than not playing is playing in the least negative situation. Hence playing during higher payoff situations.

I could also go into the maths of expectation values and variances and such, but I won't bore you with that.

As far as being happy winning $30 million, sure I would.... [ More ]

Reply #13

onlymoney — Sat, 08 Feb 2014 05:11:50 GMT

It's like the lesser of two evils.

You seemingly claim in your recent replies to me that even though you know your chances of winning doesn't increase when waiting for a bigger payoff, in your very next sentence you write how that behavior is so beneficial. Which one is it?

Do you even get it

Reply #12

onlymoney — Sat, 08 Feb 2014 05:06:42 GMT

it should be when the payoff is signficant.

What part of what I wrote earlier didn't you understand

Reply #11

LottoMetro — Sat, 08 Feb 2014 05:01:46 GMT

Exactly. Which means you shouldn't play. So, if I AM going to play, at the very least it should be when the payoff is signficant. It's like the lesser of two evils.

Reply #10

onlymoney — Sat, 08 Feb 2014 04:42:25 GMT

If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the payoff does.

Your signature above.

The problem with that logic is that the payoff is TOTALLY dependant on the odds. And when the odds are beyond rediculous, practically untouchable, the prospect of a real payoff is almost non-existent.

Reply #9

onlymoney — Sat, 08 Feb 2014 04:37:55 GMT

Like my signature implies,

So winning 30 million is insufficient for you?

I'd be hysterical right now if I won a Million bucks take home, heck, a hundred grand even. ha

It's nice to dream though. I know there's a 99.9% chance I won't win, so I don't dwell on it night and day.

Reply #8

LottoMetro — Sat, 08 Feb 2014 04:27:42 GMT

Like my signature implies, I see no reason to play terrible odds games like PB or MM unless their jackpot is significant (and even then, not really worth it).

Last year I spent about $800 on the lottery and ended up with a loss of $285. Only $18 of my winnings came from drawing games, yet I bought nearly 3 times as many draw tickets as I did scratch-off tickets. That should tell you a lot.

This year I haven't bought any tickets yet. Been a little too busy and waiting on some games to get j... [ More ]

Reply #7

onlymoney — Sat, 08 Feb 2014 04:25:57 GMT

I spend about 5 bucks a month now on Florida Fantasy Five tickets.

No, my winnings aren't more than my losses.

Yes, the financial losses greatly outweigh the winnings with this very high matrix of 36 numbers, especially If one believes they will win the JP eventually.

My favorite game to play is Pick-3.

I play the pick-3 on hunches spending about a buck a day. Until I find a consistent system, I refuse to spend anymore.

No, I don't buy more tickets when the JP rises. My astronomic... [ More ]

Reply #6

weshar75 — Sat, 08 Feb 2014 04:00:03 GMT

I play mega millions twice a week for $2 so $4 a week and powerball I play $6 twice a week so $12. So I spend less than $20 a week on mega millions and powerball combined about $16. It keeps the dream alive that maybe I might win some day.-weshar75

Reply #5

allwins — Sat, 08 Feb 2014 03:40:51 GMT

Lucky Loser Lottery Post Members,

Great feedback, thank you. Before your response I never considered to play Pick 4 ... just not as attractive as the bigger payouts.

So, you are an advocate of Quick Picks?

ALLWINS

Reply #4

allwins — Sat, 08 Feb 2014 03:00:36 GMT

Shelby, I just started playing the Lotto TX two months ago and seem to spend between $4-$5 each time I play.

Similiar to your plays I wait until the PB and MB grows enormously before I play.

Reply #3

Ilovecash3 — Sat, 08 Feb 2014 02:30:14 GMT

I never knew u play cash 4. I thought u played cash 3....

Reply #2

Lucky Loser — Sat, 08 Feb 2014 02:25:49 GMT

I must say, these are some very good questions you ask. Every single of one them will define or decline on just how well a given system really works.

1) If I answer this question, it'll cause great confusion among the masses...so I won't.

2) Yes.

3) No. (That's a trick question...it's just worded differently than question #2).

4) Pick 4 because that's where the real money is.

5) Whenever the numbers cater to what my system needs to produce the win. It's the smart and efficien... [ More ]

Reply #1

Shelby Mustang — Fri, 07 Feb 2014 23:20:40 GMT

I just buy a ticket for every drawing I usually only play MM and PB anyways and sometimes my state cash 5 when it gets over 500k

How Much Money Do You Spend Playing the Lottery in a Week?

allwins — Fri, 07 Feb 2014 19:07:27 GMT

How much money have you spent in a week/month/year playing the lottery?

Are your winnings ( ) more than your investments?

Does the financial loss outweigh the winnings?

What are your favorite games to play?

How often do you play?

Do you buy more tickets when the lotto grows to 100+Million status