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Re: the offered to quit playing lottery thread

Topic closed. 14 replies. Last post 10 years ago by Coin Toss.

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Coin Toss's avatar - shape barbed.jpg
Zeta Reticuli Star System
United States
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January 17, 2006
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Posted: July 15, 2006, 6:02 pm - IP Logged

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 gamblers do in a case like that is "lay it off", that is bet enough on the other team so regardless of the outcome of the game, they win something. But this was a $5 bet and the guy was a working stiff like the rest of us.

 Here's where this gets interesting - he showed the shift supervisor the card, the shift supervisor called the casino manager, and the casino manager said to tell him the casino is offering to buy the card back from him right now, for $12,500.

So he sold it back to them, but the next night the team he had won....he would have collected $25,000 had he not sold the card back for $12,500.......but the $12,500 was "solid" - in his hand for sure.

What would you folks have done?

PS

Incredibly, the next football season, the same guy was in the same situation - except it was a $10 card and he stood to win $50,000.

He did the same thing, and sold the card back for $25,000 - but the next noight, the team he had on the card didn't cover.  

    CARBOB's avatar - FL LOTTERY_LOGO.png
    ORLANDO, FLORIDA
    United States
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    Posted: July 15, 2006, 6:06 pm - IP Logged

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

      Avatar
      Poway CA (San Diego County)
      United States
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      January 25, 2004
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      Posted: July 15, 2006, 6:10 pm - IP Logged

      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!!

       

        Coin Toss's avatar - shape barbed.jpg
        Zeta Reticuli Star System
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        Posted: July 15, 2006, 8:59 pm - IP Logged

        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

         

         

          Avatar
          Poway CA (San Diego County)
          United States
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          Posted: July 15, 2006, 9:08 pm - IP Logged

          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

           

           

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

           

            konane's avatar - wallace
            Atlanta, GA
            United States
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            March 13, 2003
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            Posted: July 15, 2006, 9:09 pm - IP Logged

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

            I Agree!

            Good luck to everyone!

              Tenaj's avatar - michellea
              Charlotte NC
              United States
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              June 18, 2005
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              Posted: July 15, 2006, 9:10 pm - IP Logged

              Yes NodA bird in the hand is better than one in the bush.

              African Proverb

              takeemtothebank

                RJOh's avatar - chipmunk
                mid-Ohio
                United States
                Member #9
                March 24, 2001
                19831 Posts
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                Posted: July 15, 2006, 9:32 pm - IP Logged

                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.

                 * you don't need to buy more tickets, just buy a winning ticket * 
                   
                             Evil Looking       

                  wannawin24's avatar - Lottery-001.jpg
                  GA
                  United States
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                  February 22, 2006
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                  Posted: July 15, 2006, 9:54 pm - IP Logged

                  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 gamblers do in a case like that is "lay it off", that is bet enough on the other team so regardless of the outcome of the game, they win something. But this was a $5 bet and the guy was a working stiff like the rest of us.

                   Here's where this gets interesting - he showed the shift supervisor the card, the shift supervisor called the casino manager, and the casino manager said to tell him the casino is offering to buy the card back from him right now, for $12,500.

                  So he sold it back to them, but the next night the team he had won....he would have collected $25,000 had he not sold the card back for $12,500.......but the $12,500 was "solid" - in his hand for sure.

                  What would you folks have done?

                  PS

                  Incredibly, the next football season, the same guy was in the same situation - except it was a $10 card and he stood to win $50,000.

                  He did the same thing, and sold the card back for $25,000 - but the next noight, the team he had on the card didn't cover.  

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

                   

                  My NUMBER FELL!!!
                  Custom Smiley 

                   







                    Coin Toss's avatar - shape barbed.jpg
                    Zeta Reticuli Star System
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                    Posted: July 16, 2006, 1:33 am - IP Logged

                     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 fulfillment - the stock trader with his $25,000,000 or the mailman, with his $20,000? 

                      RJOh's avatar - chipmunk
                      mid-Ohio
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                      Posted: July 16, 2006, 3:11 am - IP Logged

                      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.

                       * you don't need to buy more tickets, just buy a winning ticket * 
                         
                                   Evil Looking       

                        justxploring's avatar - villiarna
                        Wandering Aimlessly
                        United States
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                        Posted: July 16, 2006, 3:25 am - IP Logged

                        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. 

                         

                          Badger's avatar - adu50016 NorthAmericanBadger.jpg
                          Wisconsin
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                          Posted: July 16, 2006, 7:56 am - IP Logged

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

                          ============

                          How can you tell if a politician is lying?

                          Answer: His lips are moving.

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                            BILOXI, MISSISSIPPI
                            United States
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                            Posted: July 16, 2006, 12:01 pm - IP Logged

                            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

                              Coin Toss's avatar - shape barbed.jpg
                              Zeta Reticuli Star System
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                              Posted: July 16, 2006, 1:54 pm - IP Logged

                              fxsterling

                              Luck never gives, only lends
                              Swedish proverb