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lottery great invention...

Topic closed. 3 replies. Last post 10 years ago by BobP.

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Honduras
Member #20982
August 29, 2005
4715 Posts
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Posted: September 22, 2006, 2:53 pm - IP Logged

I write this not for people to understand me for i believe some of you may not understand it but i write it so that the whole world can see...I may be criticized but every few people would understand...It just prove how obssessed with numbers i am...

I consider the greatest invention the lottery has ever come up with is the invention that if you win the lottery you win it for life...Example is Ga. Win for life...That lottery in a third world country would be perfect..The idea that you are going to get 1,000 dollars (and exactly that, not 700 but 1,000) for life for the rest of your life is lottery greatest invention...And it doesn't have to be 1,000 dollars they could make it where it pays from 500 to 1,500 dollars a week...

My wish is that they make the number of scratchoffs become lotteries but in third world countries...Could you imagine for example the country of Honduras with 45 kinds of lotteries all of the jackpot lotteries and all of them guaranteeing a person to win money or stuff for life...When i go to my country of origin to live for 2 years i am going to plead the authorities into making/sponsoring a Win for Life...

In my country of origin they have only 2 kinds of lotteries, one version of cash4 that pays i think 3,000 and a jackpot lotto that gives 90,000 dollars. But 90,000 to me is nothing and that's not calculating the taxes yet...And the last step to me is to make each province of the country have its own lotteries including Win For Life...I can only daydream calculating the amount of winners each year. Here in the state of Ga they got like 37 different kinds of scratoffs..

Now if they made those 36 scratoffs into lotteries in some latin american country, Multiply 36 winners 3 times a week times times the number of weeks in a year which is 52....Is a lot of winners each year for geographically small country or a country with a small population...That will be like 108 number of winners a week times 52...NOw imagine if each of those winners won a version of Win for Life 500-1,500 a week?I heard that Brasil has 32 kinds of lotteries (but Brazil is a big country in size and population).... 

Is not only my country of origin but countries with small population, like countries in the Caribbean...

The second greatest invention in my point of view is the creation of a bonus ball but if you know how to use it. Yeah a bonus ball adds more combinations to the already existing lottery but only if you know how to use it. IF you create the range of the bonus ball to be short then it shouldn't be a problem plus it adds more prize tiers payouts than regular lottery..If you make the range of the bonus ball to be larger then it is more detrimental to players..Of course the range of the regular balls shouldn't be that long...

consider me a lotto crazed man gone mad...Remember i wrote this so that the world could see it...

To daydream like this gives me confort to my day to day life...

    BobP's avatar - bobp avatar.png
    Dump Water Florida
    United States
    Member #380
    June 5, 2002
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    Posted: September 22, 2006, 11:59 pm - IP Logged

    For such a lottery to be a success there has to be almost total public confidence in the stability of the country's banking and lottery system to guarantee the prize payments for life. 

    I would imagine in more then half the countries in the world, you would be best off getting what you can of the prize while you can at the earliest possible moment. 

    If governments can default on bonds, they can stop paying lottery prizes or pretty much do anything else they want. 

    BobP

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      Honduras
      Member #20982
      August 29, 2005
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      Posted: September 23, 2006, 1:29 pm - IP Logged

      BobP Didn't think about that.. Yes you are right, they will have to be enourmous public confidence in the prosperity of the lottery...On the other hand i never heard of the Govt defaulting on bonds, but it could be true...To think about it, I don't know if 36 lotteries can prosper in a country with small population. The entire population will have to be lottery addicts/players...One piece of information i'll like to get my hands on is what percentage of the population of a country plays lottery or the total amount of players that play lottery..There are 3 kinds of lottery players. The ones that play constantly, the ones that play every once in a while and the ones that never play, but decided to buy 1 ticket...

      One question though, i don't know nothing about insurance but can like insurance company take care of it if a lottery goes broke...

        BobP's avatar - bobp avatar.png
        Dump Water Florida
        United States
        Member #380
        June 5, 2002
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        Posted: September 24, 2006, 2:05 am - IP Logged

        In the U.S. the lottery buys an annunity from an insurance company to make the payments over twenty years, the for life I believe works the same way and yes insurance companies can go bust too.  The less stable the country, government, economy the more risky a long term payout is.

        Funny story: You often hear Voltaire quoted as saying, "Lottery is a tax on the stupid." What they don't tell you is he made his fortune by winning the lottery.

        Voltaire and his friends put their money into Paris City Bonds. The city defaulted, but offered franc for franc in lottery tickets.

        Voltaire went to a famous mathematician of the time who gave each of them blocks of numbers to play and they won the jackpot! 

        From then on Voltaire was independently wealthy and could afford to spend his life giving other people advice. 
         
        BobP