Budgeting strategies.

Reply #13

SilverLion — Thu, 30 Jul 2015 01:55:19 GMT

Lets assume as a lottery employee, you make 60,000 a year.

60000 x 10% = 6000

I dont know. If I was you. I would think, I had some comfort zone to spare. At least to 7500.

Especially if I could manage at least 3 or 4 nice hits per year.

You are right! I dont want to be left out of the game. And I dont really want to think about airplanes hitting anything but air.

Reply #12

LottoMetro — Wed, 29 Jul 2015 23:53:55 GMT

I used to play something like 10% of my annual income on the lottery. Way too much, so I cut back almost all play.

I think you should just set a fixed amount per month and stick to that, while parlaying any winnings.

This year I've spent around 0.06% of my YTD income on lotto. Probably as much as the insurance premium against an airplane hitting my house. Most likely you will never hit it big so should spend least possible, but you do not want to be left out of the game altogether.

Reply #11

SilverLion — Wed, 29 Jul 2015 05:16:14 GMT

Nice!

This player has an understanding of monetary loss.

I have played advance play, and I never have any results.

Unless I play one line for fourteen draws. I have more luck that way, then playing 10 lines for fourteen days.

140 lines in ten draws versus 14 lines in 10 draws = Loss of comfort.

365 x 5 = 1825

365 x 10 = 3650

3650 -1825 = 1825

I tried to get out of my comfort zone. Why? Who knows? Seems like a fad.

So

365 x 7 = 2555

2555 - 1825 = 730 uncomfortabl... [ More ]

Reply #10

Lucky Loser — Thu, 23 Jul 2015 16:01:15 GMT

There is no budget to be had with jackpot games other than spending what you can afford to play. A person can spend $2 on a single line twice per week which $16 per month. For the average pay out upon a win, which is $4 and sometimes $7, a player can only hope to hit for the $7...a +/-50% return. When you double your expense to $4/play and $32/month, you've gotta really start hoping for that $100 win or you're getting in deeper and deeper. As you stated, everyone has their own spending comfort z... [ More ]

Reply #9

cbr$ — Thu, 23 Jul 2015 14:49:59 GMT

I play a lot of advance play in the lottery . It I combine everything I like to play in the lottery, $3500 per year. Within my comfort zone min.

Reply #8

savagegoose — Thu, 23 Jul 2015 10:05:12 GMT

thanks for your reply. its nice to get a compliment. i started doing the spreadsheet to get the data , because before hand it was all guess work. and i like to have actual data when i make a claim of i only spend.

once the spreadsheet was done, its no more hassle to keep going after the 1st year. also the numbers are for tickets bought, not personal spends. i do run 3 syndicates or pools. soo the data could be divided by 3 and a fair approximation of my spends would be 1/3 of the listed numbe... [ More ]

Reply #7

Crazy Wombat — Thu, 23 Jul 2015 08:45:09 GMT

Always like the fact that you post your win-loss amounts ... very sobering and probably should be a wake-up call to the rest of us ... it is for me ... the years and money spent (wasted) trying to snag a really decent lottery prize.

I agree with you and also you are lucky ... if and when you do get that big lottery hit one day ... it will be tax free.

Every time I play and hope for that big life changing win ... in my mind I know that about 40% (+ or -) of the prize will be gone for taxes.... [ More ]

Reply #6

Coin Toss — Thu, 23 Jul 2015 04:04:59 GMT

Let me try it again, see if you get it:

Bark of bitter tree tastes good to hungry squirrel.

Reply #5

savagegoose — Wed, 22 Jul 2015 07:53:49 GMT

i think it is individual. i know a few people on good incomes, they dont waste their money on lotto! i prob spend too much, but its a comfort zone for me. should i name an amount? i think you can see my tag lines. keno i know i spent too much and i have cut back, in USA i dont think i would even bother with keno, here its a different equation, no tax on prizes. my plan has been , try and be in every draw thats avail. and play small. wont know untill im too invalided to play or too broke to play.... [ More ]

Reply #4

SilverLion — Wed, 22 Jul 2015 07:08:09 GMT

Thanks for the encouragment music*!

I am trying real hard!

I would love to help you to find your winning numbers, but I think Cali has computerized drawings, so it might be pretty much potentially possibly rigged.

I can still try!

I love California.

Anectodetally,

However All the products I buy on the east coast tend to say...

California has determined This product has a cancer producing ingredient.

That kind of bothers me.

I guess I should just ignore it!!

Like... [ More ]

Reply #3

SilverLion — Wed, 22 Jul 2015 07:02:16 GMT

Why would a squirrel eat the bitter bark of a tree?

Have you not ever tasted an acorn

Reply #2

Coin Toss — Tue, 21 Jul 2015 21:56:24 GMT

SilverLion,

Saying the minimum is $365 a year assumes much.

There are people here who home in on one game and only play it once or twice a week (PB, MM, others) and then there are people who play a lot heavier.

Bark of bitter tree tastes good to hungry squirrel.

- Hekowee Chief, F-Troop

Reply #1

music* — Tue, 21 Jul 2015 11:45:11 GMT

Congratulations SilverLion on your Pick5 win !!

My budget is small and I play advance play so I do not go the store and buy more then i really need.

Keep on your winning streak

Budgeting strategies.

SilverLion — Tue, 21 Jul 2015 04:00:35 GMT

There is a lot of talk here on LP how, you cant win.

But we all still try.

There is a lot of debate on how to define indicators and consistency.

The bottom line is that lottery is not soley entertainment. It can also be life changing.

Take that guy who might go to jail for rigging the electronic game in Illinois.

He mistook entertainment for felony.

Again bottom line is money in, money out.

People tell me all the time. You spend a lot of money on the lottery!

Well a lot