Welcome Guest
Log In | Register )
You last visited December 9, 2016, 12:40 am
All times shown are
Eastern Time (GMT-5:00)

Is it worth buying a large number of tickets once a year?

Topic closed. 46 replies. Last post 9 years ago by RJOh.

Page 2 of 4
51
PrintE-mailLink

Which choice do you prefer?

CHOICE A: Spending $20 every week on lotto tickets [ 34 ]  [80.95%]
CHOICE B: Buying 1040 ($20 x 52) tickets annually [ 8 ]  [19.05%]
Total Valid Votes [ 42 ]  
Discarded Votes [ 3 ]  
Coin Toss's avatar - shape barbed.jpg
Zeta Reticuli Star System
United States
Member #30470
January 17, 2006
10353 Posts
Offline
Posted: November 17, 2007, 1:34 am - IP Logged

Between the options given I'd say $20 a week, and here's why....

I call it "Slim Fast syndrome" - I'm sure there's people here who can realte to this - you're trying to take off a few pounds and decide to go the Slim Fast route. So you're going to subtitute a meal or two a day with Slim Fast - ho ho!

What really happens is you eat anyway- but now you've already had the Slim Fast - so on top of what you're eating you've added a can of two or Slim Fast a day.

In other words, you set out to spend $1040 on lottery alll at once- and you do- and human nature kicks in and now you're going the $20 a week, too.

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.

    Avatar
    NY
    United States
    Member #23835
    October 16, 2005
    3474 Posts
    Offline
    Posted: November 17, 2007, 2:13 am - IP Logged

    As far as the probability and payout goes there's a definite advantage to buying all of the tickets for a single drawing. Buying 1040 tickets for one drawing offers a better chance of winning the jackpot than buying 10 tickets for each of 104 drawings. How much better depends on the game. For pick 3 you would have a 100% chance of winning compared to 65%. For PB or MM the improvement is very small, but you would have the option of playing for a bigger jackpot. You'll never know ahead of time which is the biggest jackpot of the year, but it reaches $150 million (annuity) reliably enough that you could play the first it reaches that level in each year. Over the course of a year would you rather have a 1 in 140,000 chance of winning a jackpot that averages $50 million or the same chance for a jackpot of 150? On the subjective side, would you rather lose $1040 all at once or $20 a week? 

      BobP's avatar - bobp avatar.png
      Dump Water Florida
      United States
      Member #380
      June 5, 2002
      3104 Posts
      Offline
      Posted: November 17, 2007, 2:38 am - IP Logged

      If you only play once a year what will the quality of your number picks be like?  I suspect we're talking about 1040 Quick Picks or a big wheel which wouldn't even guarantee 4if6 playing all the numbers, just multiple 3# prizes from Pick-6.

      My personal opinion is the optimal play is wheeling 12 numbers whether it be 2 lines, 6 lines, 22 lines or 38 lines per draw.  The 2 line wheel guarantees 2-3# prizes. The 6 line wheel guarantees a 4# prize. The 22 line wheel wins either a 5# prize or 9-4# prizes. The 38 line wheel guarantees a 5# prize. One win pays for your plays a long time.  There is also a  63 line wheel that guarantees 2-5# prizes. Twelve number wheeling offers the best oppertunity to play on the state's money once you get good at picking your numbers you can start small and climb the ladder of prize tiers.

      BobP

       

        RJOh's avatar - chipmunk
        mid-Ohio
        United States
        Member #9
        March 24, 2001
        19830 Posts
        Offline
        Posted: November 17, 2007, 11:21 am - IP Logged

        If you are only going to play once a year then you'll have plenty of opportunities to simulate playing 1040 lines and checking the results to decide if this is the way to go.

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

          bobby623's avatar - abstract
          San Angelo, Texas
          United States
          Member #1097
          January 31, 2003
          1394 Posts
          Offline
          Posted: November 17, 2007, 12:17 pm - IP Logged

          Most states required lottery play slips to be filled in by hand.

          In Texas, there are 5 plays per ticket. Thus, 1040 plays equals 208 slips.

          I wouldn't want to try this the day of the drawing!!

          Seems the only option would be to buy quick picks - and where is the fun in that!!

            AuntiePat's avatar - animaniacs10
            Just outside of Cleveland, OH
            United States
            Member #54079
            August 3, 2007
            106 Posts
            Offline
            Posted: November 17, 2007, 12:47 pm - IP Logged

            Am I the only old f*rt old enough to remember the story of the couple in the early years of state lotteries who tried to do this very thing with about 10X the money you're talking about investing. . .I guess my point being that theory is great but how it works functionally is more important (especially for the person attempting it) in the long run. 

             

            Anyway in the days when a 10M jackpot would almost cause rioting in lottery lines. . .this young (had to be young to believe that this attempt to buck the odds would really win) couple liquidated EVERYTHING they had to win one of the up to now larger jackpots.  Needless to say--they lost.  I think they won a few lower tier prizes but nothing to compare to what they spent.  But they obviously got a lot of press aout it.

            When you do this--you increase your odds of winning, but the odds are so astronomical anyway. . .in one of my college math classes we once touched upon the laws of probabilities.  One of the guys in there asked the prof if the odds of winning a prize were truly 1 in a million, and you bought 100 tickets to win this prize, would your odds of winning now be 10,000 to 1 rather than 1,000,000 to 1.  I never forgot what the prof said--he said that the  odds remained 1,000,000 to 1 but that now you had 100 opportunities at 1,000,000 to 1 to win.  Somehow this was a concept that I'm not sure that I ever truly wrapped my brain around (Math was required and I made my grade. . . just barely).  Heck. . .I'm not really sure if that was true--I'm just repeating the Q&A cause they made a huge inpression on me.

            Anyway. . .to answer your question. . .I would continue to spend weekly (or, in my case, biweekly) distributing between QP and favorite or chosen numbers. . .actually, at the odds of the multistate JPs. . .you don't hit the lottery. . .it hits you.

              time*treat's avatar - radar

              United States
              Member #13130
              March 30, 2005
              2171 Posts
              Offline
              Posted: November 17, 2007, 1:10 pm - IP Logged

              "I guess my point being that theory is great but how it works functionally is more important (especially for the person attempting it) in the long run."

              Whenever you try to discuss the physical practicality of one of these ideas, the response is to change the initial conditions, or say that we shouldn't be so literal.  

              In neo-conned Amerika, bank robs you.
              Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                BobP's avatar - bobp avatar.png
                Dump Water Florida
                United States
                Member #380
                June 5, 2002
                3104 Posts
                Offline
                Posted: November 17, 2007, 2:49 pm - IP Logged

                Am I the only old f*rt old enough to remember the story of the couple in the early years of state lotteries who tried to do this very thing with about 10X the money you're talking about investing. . .I guess my point being that theory is great but how it works functionally is more important (especially for the person attempting it) in the long run. 

                 

                Anyway in the days when a 10M jackpot would almost cause rioting in lottery lines. . .this young (had to be young to believe that this attempt to buck the odds would really win) couple liquidated EVERYTHING they had to win one of the up to now larger jackpots.  Needless to say--they lost.  I think they won a few lower tier prizes but nothing to compare to what they spent.  But they obviously got a lot of press aout it.

                When you do this--you increase your odds of winning, but the odds are so astronomical anyway. . .in one of my college math classes we once touched upon the laws of probabilities.  One of the guys in there asked the prof if the odds of winning a prize were truly 1 in a million, and you bought 100 tickets to win this prize, would your odds of winning now be 10,000 to 1 rather than 1,000,000 to 1.  I never forgot what the prof said--he said that the  odds remained 1,000,000 to 1 but that now you had 100 opportunities at 1,000,000 to 1 to win.  Somehow this was a concept that I'm not sure that I ever truly wrapped my brain around (Math was required and I made my grade. . . just barely).  Heck. . .I'm not really sure if that was true--I'm just repeating the Q&A cause they made a huge inpression on me.

                Anyway. . .to answer your question. . .I would continue to spend weekly (or, in my case, biweekly) distributing between QP and favorite or chosen numbers. . .actually, at the odds of the multistate JPs. . .you don't hit the lottery. . .it hits you.

                What's fixed is the total number of lottery combinations.

                If there are 13.9 million combinations we like to say the
                odds are 1 in 13.9 million because one dollar buys one
                combination giving the purchaser one chance to win.

                Fly to a state where you get two combinations for a dollar
                the total number of combinations haven't changed, but the
                odds of 1 in 13.9 million are 1 in 6.9 million because now
                you have two combinations in hand for one/dollar.

                In the same sense, buying two tickets for two dollars also
                cuts the odds in half for what each ticket faces, but does
                not change the odds for one/dollar.

                Of course it's still just two combinations out of 13.9
                million, but it is the same division you would use if you
                were in charge of any kind of team facing a larger team,
                you would divide your numbers into theirs and come up with
                a figure for how many each of your team would be facing.

                To be precise, the total number of lottery combinations
                never change.  The odds of winning do change for you
                depending on how you play, but generally can't be computed
                until after the draw.

                For example, the decision to put ten numbers into play
                rather then six reduces the odds from 1 in 13.9 million
                to one in 66,589.60 of having all six among the ten as
                opposed to all six among six.

                To fully cover 10 numbers takes 210 combinations and 210
                times 66,589.60 gives us 13.9 million so in the background
                the odds didn't change overall, but they certainly did for
                your chance of having the numbers among yours.  Actually
                even those odds didn't change, they were the odds you took
                or chose to accept by putting 10 numbers into play.

                So the odds don't change, but there are odds for everything
                possible within the lottery and you can choose to play at
                one of those odds positions and by doing so be playing at
                better or worse odds of winning then the person ahead and
                behind you in line.

                BobP

                  RJOh's avatar - chipmunk
                  mid-Ohio
                  United States
                  Member #9
                  March 24, 2001
                  19830 Posts
                  Offline
                  Posted: November 17, 2007, 3:03 pm - IP Logged

                  Most states required lottery play slips to be filled in by hand.

                  In Texas, there are 5 plays per ticket. Thus, 1040 plays equals 208 slips.

                  I wouldn't want to try this the day of the drawing!!

                  Seems the only option would be to buy quick picks - and where is the fun in that!!

                  Years ago I was in a lottery pool that played 500 lines in the Ohio Super Lotto game which was a 6/49 game.  The lines were picked by a computer program based on previous drawings and I with another co-worker was assigned the responsibility of making out the play slips and buying the tickets.  I made out 50 play slips which took over two hours and near the end I started to make mistakes because of my lack of concentration.  I decided then that I would never do that again.  I can imagine the head aches of coming up with 1040 combinations and making out over 200 play slips between drawings.

                  I would never buy 1040 QP because I know at least that many tickets are sold every drawings in my community and it's unusual for anyone to match more than three.

                  Most states do have a rule requiring play slips be made out by hand but if the terminals can read them and print out the numbers you intended then there's no reason for the state to know how your slips were made out.  After a foreign syndicate won the Virgina lottery a few years back by playing over 8,000,000 lines, states came up with those rules to discourage them.

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

                    Avatar
                    Kentucky
                    United States
                    Member #32652
                    February 14, 2006
                    7314 Posts
                    Offline
                    Posted: November 17, 2007, 3:11 pm - IP Logged

                    I wanted to ask all of you for your opinion, since I truly believe that the smartest and most talented lottery players browse through these forums ......

                     

                    I was thinking of flying somewhere for vacation.  I haven't bought any lottery tickets in almost a year, and I had considered buying a large number of tickets during a vacation once a year.  If you spend, let's say, $20 a week on lottery tickets, is it worth saving all that money to play 1040 tickets ($20 x 52 = $1040) once a year annually.  The odds would be MUCH greater buying 1040 tickets for that annual drawing, but if you play every drawing, at least you would have a chance on every drawing.  Is it worth the wait?  Your thoughts......

                    There are probably many people that buy 10 Mega Millions or Powerball tickets twice a week hoping to catch a jackpot or a large secondary prize. Other people might wait until the jackpot reaches $100 million and their yearly lottery budget averages $20 a week. I doubt people using either strategy would stop playing for an entire year and bet it all on one drawing.

                    You can justify spending $1000 on one drawing by saying it's the same as buying 20 tickets a week but if you're looking for MUCH better odds, why not sit out for 2 years or even 10 years?

                    "I truly believe that the smartest and most talented lottery players browse through these forums ......"

                    I agree, it's just that I don't know any talented lottery players that only play once a year.

                      time*treat's avatar - radar

                      United States
                      Member #13130
                      March 30, 2005
                      2171 Posts
                      Offline
                      Posted: November 17, 2007, 4:09 pm - IP Logged

                      Most states required lottery play slips to be filled in by hand.

                      In Texas, there are 5 plays per ticket. Thus, 1040 plays equals 208 slips.

                      I wouldn't want to try this the day of the drawing!!

                      Seems the only option would be to buy quick picks - and where is the fun in that!!

                      Taking the largest gap between drawings, the plays could be spread out over 4 days (counting the day of the drawing, too) @ 52 playslips per day. From there, it depends on how many places you want to split your purchases among. 

                      Lots of work. If you're lucky, you'd only need to do it once or twice (plus, it'd make a great story).

                      In neo-conned Amerika, bank robs you.
                      Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                        RJOh's avatar - chipmunk
                        mid-Ohio
                        United States
                        Member #9
                        March 24, 2001
                        19830 Posts
                        Offline
                        Posted: November 17, 2007, 6:04 pm - IP Logged

                        Taking the largest gap between drawings, the plays could be spread out over 4 days (counting the day of the drawing, too) @ 52 playslips per day. From there, it depends on how many places you want to split your purchases among. 

                        Lots of work. If you're lucky, you'd only need to do it once or twice (plus, it'd make a great story).

                        I don't think playing more than 50 play slips at the same place would be the problem.  If it done during the slower period of their day, most retailer would be happy to have someone buy a $1000 worth of lottery tickets.  The problem would be if you didn't win big they're would remember you as the fool who had a thousand dollars and lost it all buying lottery tickets for one game. 

                        That alone may be a good reason to go some where they don't know you and you have no plans to return soon.

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

                          Coin Toss's avatar - shape barbed.jpg
                          Zeta Reticuli Star System
                          United States
                          Member #30470
                          January 17, 2006
                          10353 Posts
                          Offline
                          Posted: November 17, 2007, 8:37 pm - IP Logged

                          AuntiePat

                          Wasn't that Pennsylvania? The couple sold everything they had and  played it all in tickets, and then just about broke even? (Or so the story went)

                          Re: Playing weekly or once a year, I can't think of anyone on this board who would play one day out of a year and that's that.  

                          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.

                            tntea's avatar - Lottery-059.jpg

                            United States
                            Member #5344
                            June 30, 2004
                            23641 Posts
                            Offline
                            Posted: November 18, 2007, 6:47 am - IP Logged

                            I think it is best to buy tickets for multiple draws weekly.

                            I have 7 pools started.  I will get another line today for another pool.

                            At any given time we will have a string of number still good... and a few playing out.  I am cashing in on pool #1A today to play a pool #1B for the five of us in this pool.

                                 OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

                              AuntiePat's avatar - animaniacs10
                              Just outside of Cleveland, OH
                              United States
                              Member #54079
                              August 3, 2007
                              106 Posts
                              Offline
                              Posted: November 19, 2007, 7:00 pm - IP Logged

                              AuntiePat

                              Wasn't that Pennsylvania? The couple sold everything they had and  played it all in tickets, and then just about broke even? (Or so the story went)

                              Re: Playing weekly or once a year, I can't think of anyone on this board who would play one day out of a year and that's that.  

                              Been a lotta years but I think it WAS PA.  Didn't know they came close to breaking even--Interesting!