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What to do with $1000 for lottery

Topic closed. 13 replies. Last post 9 years ago by tntea.

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Imagine for this poll this is the 6/49 game and you have $1000 dollars would you rather have:

1 ticket for 1000 drawings [ 6 ]  [18.18%]
10 tickets for 100 drawings [ 10 ]  [30.30%]
100 tickets for 10 drawings [ 11 ]  [33.33%]
1000 tickets for 1 drawing [ 6 ]  [18.18%]
Total Valid Votes [ 33 ]  
Discarded Votes [ 2 ]  
nydeal's avatar - friends
NY
United States
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December 28, 2003
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Posted: June 7, 2008, 3:28 pm - IP Logged

I was wondering if it is more advantagous to bet a little each week or wait and bet a larger sum every once in a while...what do most players prefer?

 

(for the sake of this poll, lets pretend the drawing jackpot is 10 million each week, an average size pot.)

 

thanks

    Stew12's avatar - bad egg-64x64.png
    CT
    United States
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    Posted: June 7, 2008, 3:44 pm - IP Logged

    Well 1 ticket is about 1 in 14,000,000 odds, and 1000 tickets is 1000/14,000,000 or 1/14,000.  I still wouldn't spend $1000 on one drawing with 1/14,000 odds. 

    It only takes 1!  That's my vote.

      sweetbitterkiss's avatar - hello
      Michigan
      United States
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      March 17, 2008
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      Posted: June 7, 2008, 3:55 pm - IP Logged

      i will not used the money all at once all it takes is one ticket to win but if you lose you still have more money to keep trying the if you used it all then what? unless you have more money but in my case i will make sure that money will last me a long time 

      one day my life will be complete ^_^

        ThatScaryChick's avatar - x1MqPuM
        Idaho
        United States
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        November 21, 2007
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        Posted: June 7, 2008, 3:57 pm - IP Logged

        Good poll! For me it would be a choice between 1 ticket for 1000 drawings or 10 tickets for 100 drawings. I usually like to play 2 or 3 lines, but I would never buy a bunch of tickets at once. I would draw out the money as long as I could.

        "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

          DC81's avatar - batman39
          MI
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          Posted: June 7, 2008, 4:18 pm - IP Logged

          Well 1 ticket is about 1 in 14,000,000 odds, and 1000 tickets is 1000/14,000,000 or 1/14,000.  I still wouldn't spend $1000 on one drawing with 1/14,000 odds. 

          It only takes 1!  That's my vote.

          Unfortunately I don't think the odds work that way, you'd just haveeither still a 1 in 14,000,000 chance for each play or maybe a 1,000 in14,000,000 chance to win but it doesn't allow it to be treated like aregular fraction in reducing it to the lowest common denominator, whatyou've only done is potentially taken 1,000 combinations out of14,000,000, there's still 13,999,000 combinations left.

           

          Saying that, it would depend, could this money only be used for thelottery? Because I could think of better things to do with $1,000 butif it is "lottery only"  I think I might build to $100 for a comingdrawing if it rolled to a huge jackpot or I could always just go nutsand blow it all at once... That'd be a lot of tickets to check.

           

          But it certainly does only take one! Big Smile

          You can't predict random.

            Guru101's avatar - rw6jhh
            Indiana
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            Posted: June 7, 2008, 4:40 pm - IP Logged

            Unfortunately I don't think the odds work that way, you'd just haveeither still a 1 in 14,000,000 chance for each play or maybe a 1,000 in14,000,000 chance to win but it doesn't allow it to be treated like aregular fraction in reducing it to the lowest common denominator, whatyou've only done is potentially taken 1,000 combinations out of14,000,000, there's still 13,999,000 combinations left.

             

            Saying that, it would depend, could this money only be used for thelottery? Because I could think of better things to do with $1,000 butif it is "lottery only"  I think I might build to $100 for a comingdrawing if it rolled to a huge jackpot or I could always just go nutsand blow it all at once... That'd be a lot of tickets to check.

             

            But it certainly does only take one! Big Smile

            If the odds of winning the jackpot are 1 in 14,000,000 and you buy 1,000 tickets(combinations) for a single drawing, then your odds of winning ARE INDEED 1 in 14,000. We've had this debate on LP before. It's math. It's fractions.

            Gonna win.Big Smile

              RJOh's avatar - chipmunk
              mid-Ohio
              United States
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              Posted: June 7, 2008, 4:49 pm - IP Logged

              I calculated the amount I could expect to win if I played 1000 lines 4 different ways playing the Ohio Classic Lotto which is a 6/49 game. For my calculations I used the winning numbers from the 10-200 previous drawings because those numbers are probably as random as any I would pick.

              200 lines 5 times      TOTAL MATCHES

                                     MATCH  0 = 429     
                                     MATCH  1 = 394     
                                     MATCH  2 = 154     
                                     MATCH  3 = 23            $ 46
                                     MATCH  4 = 0       
                                     MATCH  5 = 0       
                                     MATCH  6 = 0               0 JP
               
                          TOTAL PRIZES = $ 46 + 0 JACKPOTS
                   checked 5 records with 200 previous records = 1000

               
              100 lines 10 times      TOTAL MATCHES

                                     MATCH  0 = 440     
                                     MATCH  1 = 382     
                                     MATCH  2 = 165     
                                     MATCH  3 = 13            $ 26
                                     MATCH  4 = 0       
                                     MATCH  5 = 0       
                                     MATCH  6 = 0               0 JP
               
                          TOTAL PRIZES = $ 26 + 0 JACKPOTS
                   checked 10 records with 100 previous records = 1000


              50 lines 20 times       TOTAL MATCHES

                                     MATCH  0 = 444     
                                     MATCH  1 = 402     
                                     MATCH  2 = 141     
                                     MATCH  3 = 13            $ 26
                                     MATCH  4 = 0       
                                     MATCH  5 = 0       
                                     MATCH  6 = 0               0 JP
               
                          TOTAL PRIZES = $ 26 + 0 JACKPOTS
                   checked 20 records with 50 previous records = 1000


              10 lines 100 times      TOTAL MATCHES

                                     MATCH  0 = 441     
                                     MATCH  1 = 388     
                                     MATCH  2 = 152     
                                     MATCH  3 = 18            $ 36
                                     MATCH  4 = 1             $ 70
                                     MATCH  5 = 0       
                                     MATCH  6 = 0               0 JP
               
                          TOTAL PRIZES = $ 106 + 0 JACKPOTS
                   checked 100 records with 10 previous records = 1000

              It appears I would be better off playing a few lines at a time, I would win more and play longer even thought I probably wouldn't win a jackpot or a 2nd place prize. Winning a jackpot or 2nd prize is hard regardless and 1000 chances wouldn't get me much of an edge regardless of how I play them.

              *Ohio Classic Lotto has only had 215 drawings so far.

               MATCH    ODDS /49 numbers            WINNING COMBOS
                6/6     1 : 13983816                1
                5/6     1 : 54201                   258
                4/6     1 : 1032                    13545
                3/6     1 : 57                      246820
               ____________________________________________________
               overall odds are 1 : 53.6 of winning something, likely a match3

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

                nydeal's avatar - friends
                NY
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                Posted: June 7, 2008, 5:26 pm - IP Logged

                Thanks for your analysis RJOh....i like your thinking on this

                  time*treat's avatar - radar

                  United States
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                  Posted: June 7, 2008, 6:32 pm - IP Logged

                  100 tickets for 10 drawings... play like you mean it! Smash

                  Big Grin

                  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
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                    Posted: June 7, 2008, 8:45 pm - IP Logged

                    100 tickets for 10 drawings... play like you mean it! Smash

                    Big Grin

                    It's hard to play that way and mean it if you aren't convinced that playing that way significantly improves your chances of at least winning a 2nd prize. Disapprove

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

                      psykomo's avatar - animal shark.jpg

                      United States
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                      Posted: June 7, 2008, 10:04 pm - IP Logged

                      I was wondering if it is more advantagous to bet a little each week or wait and bet a larger sum every once in a while...what do most players prefer?

                       

                      (for the sake of this poll, lets pretend the drawing jackpot is 10 million each week, an average size pot.)

                       

                      thanks

                      THangs for this G@@D>>>>>>>>>>>>>>>>>>>>>>>>>POLE!!!!!!

                      BUT & IF yoy have $1000.00 in UR HAND'$$$$$$$$$$$$$$$$$$$$$$

                      DON't <<<<<<<<<<<play the STOCK MARKET>>>>>>>>>>>>>>>>

                      DON't <<<<<<<<<<<GO>2>>STARBUCK'<<<<<<(BIG BUCK'$$$$$)!

                      DON't <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<PLAY the Lottery!!

                      Just go to Walmart's & enjoy UR >>>>>>>"DAY"

                      (note: PSYKO voted other on this WON)...........>>>>>>>>>>>"BUTT"

                      LOL

                      PSYKOMO

                        justxploring's avatar - villiarna
                        Wandering Aimlessly
                        United States
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                        Posted: June 8, 2008, 1:44 am - IP Logged

                        Imagine for this poll this is the 6/49 game and you have $1000 dollars would you rather have:

                         

                        None of the above.   I'd pay off some bills and continue to play exactly what I do now.  (which is already too much!)  Smiley   

                        However, to answer your question as if I had to spend the $1,000 on a 6/49 game, I would probably buy 20 tickets for 50 drawings. 

                          EZMoney's avatar - weedss04lx1

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                          Posted: June 8, 2008, 11:01 am - IP Logged
                            tntea's avatar - Lottery-059.jpg

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                            Posted: June 8, 2008, 11:14 am - IP Logged

                            Invest $999 in an IRA, and then buy a $1 powerball ticket.

                            Take my $1000 on vacation and play the lottery as I go.... Playing in different states and buying advance draws.

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