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The Percentage Who Go Bankrupt?

Topic closed. 12 replies. Last post 10 years ago by tntea.

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What percentage of online lottery players bust their accounts and have to continually add funds?

100% [ 4 ]  [9.30%]
99% [ 9 ]  [20.93%]
95% [ 12 ]  [27.91%]
90% [ 1 ]  [2.33%]
80% [ 1 ]  [2.33%]
70% [ 2 ]  [4.65%]
60% [ 2 ]  [4.65%]
50% [ 2 ]  [4.65%]
25% [ 3 ]  [6.98%]
This poll really stinks!!! [ 7 ]  [16.28%]
Total Valid Votes [ 43 ]  
Discarded Votes [ 7 ]  
sfilippo's avatar - skull
Oklahoma
United States
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February 24, 2006
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Posted: February 6, 2007, 6:01 am - IP Logged

Is this one too personal? Might be.

I'd say the percentage is right inline with commodity traders and 95% of online players go bust, including me.

Smiley Steve

    tntea's avatar - Lottery-059.jpg

    United States
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    June 30, 2004
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    Posted: February 6, 2007, 6:53 am - IP Logged

    If I did it more than once, I would quit...

    I had to add to my account when I first started two weeks later...

    I went quarter crazy..

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      Avatar
      Greenwich, CT
      United States
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      Posted: February 6, 2007, 11:10 am - IP Logged

      The lottery is designed to be a losing game...so I'd say most people would have to restock their account at some point.

        guesser's avatar - Lottery-017.jpg

        United States
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        Posted: February 6, 2007, 2:34 pm - IP Logged

        97% of all folks that visit casinos lose, it's no different here, in the long run.

          Avatar

          United States
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          January 17, 2006
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          Posted: February 6, 2007, 2:37 pm - IP Logged

          97% of all folks that visit casinos lose, it's no different here, in the long run.

          I agree

            tntea's avatar - Lottery-059.jpg

            United States
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            Posted: February 6, 2007, 6:37 pm - IP Logged

            The lottery is designed to be a losing game...so I'd say most people would have to restock their account at some point.

            Until they get to the point that they will have a reason behind a number they are playing.

            Hubby bets ballgames.  I will pick a game and he will ask "Why?".. He assures me that I need to have a reason behind my picks or it is just plain foolish gambling.

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              LOTTOMIKE's avatar - cash money.jpg
              Tennessee
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              October 15, 2004
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              Posted: February 12, 2007, 8:30 am - IP Logged

              unless you have consistent hits you'll always bust sooner or later.

                MADDOG10's avatar - smoke
                Beautiful Florida
                United States
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                July 18, 2004
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                Posted: February 12, 2007, 9:22 pm - IP Logged

                97% of all folks that visit casinos lose, it's no different here, in the long run.

                Absolutely agree with this...!

                                                             

                                                               "  When Injustice Becomes Law, Resistance Becomes Duty "

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                  United States
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                  January 23, 2005
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                  Posted: February 12, 2007, 11:14 pm - IP Logged

                  On Numbers games the Lottery usually takes 50 percent (not taxes, just their share!) so your system has to have a hit ratio of 200% of normal (random chance) just to break even! I saw an ad on here for online where Pickits are 25c instead of 50c. If the payouts match the State payouts then a system used with online plays could make good profit with only a slight edge over normal. The catch is, I don't know! How they sell Numbers for 25c is a mystery but I speculate that for Numbers games they don't actually buy tickets but pay out prizes from their private money, whatever they take in, but even then at 25c each they would only break even so how are they staying in business??? I MIGHT consider online plays if that question is ever answered and if there's no chance of getting in trouble legally by playing online. If I have an algorithm that I think won't make money then I try to find a better one pronto.

                    LottoL's avatar - techno eye.jpg
                    Texas
                    United States
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                    February 24, 2006
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                    Posted: February 14, 2007, 3:21 am - IP Logged

                    97% of all folks that visit casinos lose, it's no different here, in the long run.

                    I agree. . .

                    But I wonder how many of those 97% were up on the plus side at one time or another? 

                    In the long run, it's a loser's game for most players.  As for me, I've always had better

                    luck at casinos in Las Vegas -- playing lotteries has never paid off in a positive way.

                    Best of Luck!
                    LottoL

                      LOTTOMIKE's avatar - cash money.jpg
                      Tennessee
                      United States
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                      Posted: February 15, 2007, 2:34 am - IP Logged

                      On Numbers games the Lottery usually takes 50 percent (not taxes, just their share!) so your system has to have a hit ratio of 200% of normal (random chance) just to break even! I saw an ad on here for online where Pickits are 25c instead of 50c. If the payouts match the State payouts then a system used with online plays could make good profit with only a slight edge over normal. The catch is, I don't know! How they sell Numbers for 25c is a mystery but I speculate that for Numbers games they don't actually buy tickets but pay out prizes from their private money, whatever they take in, but even then at 25c each they would only break even so how are they staying in business??? I MIGHT consider online plays if that question is ever answered and if there's no chance of getting in trouble legally by playing online. If I have an algorithm that I think won't make money then I try to find a better one pronto.

                      i've wondered this myself.good question....

                        tungsten chef's avatar - nw dwarf5.jpg
                        Winnipeg
                        Canada
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                        May 7, 2005
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                        Posted: February 17, 2007, 12:53 pm - IP Logged

                        the online books that do have the daily number games probably figure in all the money they make from every area..casino, sports, lottery.  i'm sure if they were losing money big on just the daily games they would change the wager from a minimum of 25 cents to a higher wager or shut them down completely.

                          tntea's avatar - Lottery-059.jpg

                          United States
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                          June 30, 2004
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                          Posted: February 17, 2007, 1:37 pm - IP Logged

                          On Numbers games the Lottery usually takes 50 percent (not taxes, just their share!) so your system has to have a hit ratio of 200% of normal (random chance) just to break even! I saw an ad on here for online where Pickits are 25c instead of 50c. If the payouts match the State payouts then a system used with online plays could make good profit with only a slight edge over normal. The catch is, I don't know! How they sell Numbers for 25c is a mystery but I speculate that for Numbers games they don't actually buy tickets but pay out prizes from their private money, whatever they take in, but even then at 25c each they would only break even so how are they staying in business??? I MIGHT consider online plays if that question is ever answered and if there's no chance of getting in trouble legally by playing online. If I have an algorithm that I think won't make money then I try to find a better one pronto.

                          The online that provides the casino games and sportsbet take in more money.  The lottery games do pay out better than the in store games in the states.

                          I am sure that the casinos online that provide the lottery, keep their banks up.  I worried about getting in trouble with all the transfers back to my bank account after winning. I finally got the money settled here and there and have decided not to play online anymore. 

                          I miss it something terribly.  But the worries are gone now..

                          The only money loss online for me was when I spend winnings playing roulette or blackjack.

                          Hubby loss some at sports.. but he only loss his winnings back.

                          The pick 3 and pick 4 games kept me playing...

                          To play for nearly 3 years with only $100 total deposit from our hard earn money was pretty good I would say.  The return was fantastic.

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