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Is Greed Good ??

Topic closed. 18 replies. Last post 9 years ago by Stack47.

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Zeta Reticuli Star System
United States
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January 17, 2006
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Posted: October 1, 2007, 9:42 am - IP Logged

Stack47

"Bookies probably still take lottery bets and pay out at $600 to 1 because they know in the long run the percentages are in their favor. If only Tennessee would have hired a bookie to run its lottery."

This is true about them knowing the 'pc's' are in their fsvor (I never heard of $600 from a book but it depends where you are).

Bookies, race track operators, and casino onwers also know that they are in the ego business as well as the gambling business.  

Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

Lep

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

    Omniscient's avatar - Lottery-017.jpg
    Florida
    United States
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    September 14, 2006
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    Posted: October 1, 2007, 11:15 am - IP Logged

    Yes, GREED IS GOOD! Without it there would be no United States of America as we know it. The country was built on greed, fact.

    Funny and interesting post ... it was just good decision making ... like buying Alaska from Russia(oil)and other key financial decisions. Ulitimately, war has been the single wealth contributing factor throughout history. 

     See full size image                                               

     Don't Play more, Play Smarter!

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      Abergavenny City
      United Kingdom
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      August 17, 2007
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      Posted: October 1, 2007, 2:15 pm - IP Logged

      It is nature to want increase.  Everything wants increase - a cow wants to eat all the greener grass in the other field and a hedge will keep growing and growing.  Abundance is good if it is to give back.  Greed is good unless its selfish and to compete.

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        Kentucky
        United States
        Member #32652
        February 14, 2006
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        Posted: October 1, 2007, 2:41 pm - IP Logged

        Stack47

        "Bookies probably still take lottery bets and pay out at $600 to 1 because they know in the long run the percentages are in their favor. If only Tennessee would have hired a bookie to run its lottery."

        This is true about them knowing the 'pc's' are in their fsvor (I never heard of $600 from a book but it depends where you are).

        Bookies, race track operators, and casino onwers also know that they are in the ego business as well as the gambling business.  

        (I never heard of $600 from a book but it depends where you are).

        When I first came to Lottery Post I was very skeptical of the 900 to 1 payoffs given by the Online betting sites.

        Most work places with a large number of employees always have somebody with football parlays and where I worked, you could play the Pick-3 with some of those people.  I never played the old numbers game but people were still playing it after the Pick-3 started. 600 to 1 was its payoff and that was the lottery payoff when it started and still is. 

        With the percentages on their side, the bookies and runners actually premoted play to get more volume. You could get $6 worth of play for $5; some runners would extend credit, and cash your paycheck.

        MM and PB were created because they understand that player greed will overcome the logic of the huge odds against winning. While the matrix creates the huge annuity jackpots, I doubt anybody would play the Pick-3 with the bookies if they offered 900 or 600 to 1 payoffs where the players would get $30 or $20 each year for the next 30.