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Spending too much on Lotto Tickets?

Topic closed. 46 replies. Last post 7 years ago by konane.

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Zeta Reticuli Star System
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Posted: July 19, 2009, 7:05 pm - IP Logged

joshuakim,

When someone asks "Am I spending too much on_ _ _ _." or "Am I giving too much time to_ _ _ _", etc., they've unknowingly already answered their own question.

In other words when you come to the point you ask that question, the answer is yes.

When it comes to gambling, any form of gambling, there's a saying that every body "bets the same amount." This doesn't mean they bet the same amount of money, but that they bet how ever much it takes to give them a thrill.

Also, when it comes to gambling, every one tends to forget that there is not a bet you can make that you are suppossed to win. The houe wins, the players lose, most of the time. In lotto, every once in a while someone gets lucky, really lucky, but that's about the best any player can hope for.

The only successful approach to gambling in any form is to consider whatever you bet "gone", and anything that comes back is pure gravy. Once you convert currency into a chip in a casino, a credit in a slot, a football ticket or a horse race tiakcet, keno rticket, or lottery ticket, consider it gone.

According to how much diiscretionary income you have to play with, determine the amount you are willing to consider gone.

In lotto we are all trying to turn a toothpick into a lumber yard and need to realize that's exactly what we're trying to do.

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.

    Guru101's avatar - rw6jhh
    Indiana
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    Posted: July 19, 2009, 7:27 pm - IP Logged

    If you need to ask if you're spending too much, you probably are. If you insist on spending that much per drawing on the lottery, switch your spendings around. Spend $10 on Powerball and $40-$50 on Lotto.

    Gonna win.Big Smile

      justxploring's avatar - villiarna
      Wandering Aimlessly
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      Posted: July 20, 2009, 1:18 am - IP Logged

      If you need to ask if you're spending too much, you probably are. If you insist on spending that much per drawing on the lottery, switch your spendings around. Spend $10 on Powerball and $40-$50 on Lotto.

      Not sure I agree 100%.   Depends on how much you want to win.   The odds for winning the $1 million in PB are considerably lower than winning a Lotto jackpot.  However, you have to spend $2 to win it.   I spend more on Lotto than PB, but that's only because I've been playing it for 15 years longer.  I only buy QPs for PB so I don't get "hooked" on playing every game.  I mean, if my numbers don't come up, it's no big deal.  That happened to me once with Fantasy5 and it really hurts.

      Anyway, when the OP said "life changing" it's possible that $1 million isn't enough.  At this stage of my life, it would be plenty, even after taxes.

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        NY
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        Posted: July 20, 2009, 1:57 am - IP Logged

        Hi, first post here   :D

         

        I play the multi-state lotteries a lot. I mean, A LOT!

         

        I play the Powerball and the Florida Lotto mostly.


        I spend about $50~$80 per drawing. Usually $10 on FL Lotto and $40~$50 on Powerball. When Powerball gets past $100million, I often play 100 tickets for Powerball. Ive been doing this for about 2years now and so far, my losses far exceed wins. To be frank, I average about $7 return on every $100 spent (it averages to about $90 in losses every week).

        Should I continue to spend such amount on lottery?

        I spent $4720 in 2008, roughly 3000 tickets, and I havnt won anything bigger than $500 in 2008.

        Any suggestion as to how to improve my chances of winning?

        Should I play all QP? (I do half QP and half random numbers I bubble in at home)

        Should I choose all my number? (that will be lot of bubbling haha)

        Should I play the same set of 50 numbers every week? (instead of QP and refilling new sheets with more random numbers)

         

        I must have the worst luck.

         

        I bet for some of you guys on this site, if you had the opportunity to play 100 lines a week, many of you would have hit the jackpot or the one below that by now lol.

         

        Btw, I'm not looking for a constant profit. Sure playing pick 3 and pick 4 can achieve that, but $300 or even $5000 isnt worth that much to me. I'm not trying to sound pompous. I just have enough income to budget about $500/week on entertainment and I just allocate $100 on lotto. I'm a pediatrician, with income thats barely over six figures. So with the student loan still left to pay and along with other bills, by all means I'm not wealthy.

        Edit: I only desire to win something that is life changing. I didn't mean to snub at those who play pick3/pick4. I apologize for the misunderstanding and if the statement above sounded pretentious.

        The weekly $100 lotto frenzy drives my wife crazy, but she really doesnt have a say in this. Her "shopping" budget is $100 more than my weekly entertainment budget and I dont see why I can't enjoy spending $100 on something that gives me joy.

         

        Well her usually argument is... "If you spend $100 clothes, you have something in your closet. You spend it on lotto, you have nothing left in your hands! For pete's sake, spend it on something else!"

        Haha,

        I'm sorry, it seems I went bit off topic.

         

        What should I do my fellow lottery hopefuls? Should I continue to spend $100/week or should I scale down?

        Let me make sure I understand correctly. You claim you're a pediatrician, but you think your claimed results are the result of "the worst luck", and that "many" others would have won a jackpot if they played as much? Didn't your education require at least a bit of math and science? You also claim an "income thats barely over six figures" but you're paying off student loans and still spending 25k on entertainment? Are you homeless, starving and riding your bike to work?

        On the off chance that you're legit, $100 isn't too much if you really think you're getting $100 worth of entertainment. If you're spending that much because you actually think it's a sensible strategy for winning PB, then you are spending too much. Worse, you're almost certainly doing your patients a serious disservice by not referring them to another doctor.

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          Posted: July 20, 2009, 1:57 am - IP Logged

          Well believe it or not , I have some discoveries with lottery and if any one challenges me I cant win a lottery he is a fool, as if I have to certainly win I can and under all cirumstances I can win guranteed one is 20 tries.

           

          Now if you guys ae really keen to win lotttery i amy need someone to arrange a seminar on thiis subject, or else welcome to call me and chat for a while i am in Denmark-Europ and I do have land line tel in NY USA and the call will be diverted to Denmark.

           

          About the florida lottery.. all lottery games upto 90 numbers and no poweball etc are easier to win and easier for me to construct the winning numbers but games with pwoerball means play every game with all the powerballs- that is extremly expensive...

          Further games with even numbers are more easier like 90 numbers in Super ena lottery-does not matter the 1:900 million chance to win or mega sena 60 numbers numbers 1-49  or 1-43 odd is more diffficult.  I am a guy who is running a company winning for people lottery and so far my winnigs in 16 years is around US$140 million after tax and in 16 years the total amount spent to win this amount is 1.6 million $ that is 10 % of the winnings....

           

          God had given us brains and I know exactly how to win a lottery with brains.

           

           

           

          World Keno Lottery Specialist

          Would your eyes still be brown if you got up on a tall ladder and wiped your face?

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            FL
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            Posted: July 20, 2009, 3:17 am - IP Logged

            Let me make sure I understand correctly. You claim you're a pediatrician, but you think your claimed results are the result of "the worst luck", and that "many" others would have won a jackpot if they played as much? Didn't your education require at least a bit of math and science? You also claim an "income thats barely over six figures" but you're paying off student loans and still spending 25k on entertainment? Are you homeless, starving and riding your bike to work?

            On the off chance that you're legit, $100 isn't too much if you really think you're getting $100 worth of entertainment. If you're spending that much because you actually think it's a sensible strategy for winning PB, then you are spending too much. Worse, you're almost certainly doing your patients a serious disservice by not referring them to another doctor.

            KY Floyd,

            I really dont understand the reason for the hostility. Perhaps I may be over-analyzing your post.

            I completely understand the odds of playing mut-state lotteries. Odds of getting hit by a lightning is 1:700,000. The Powerball? 1:195,000,000.

            But nevertheless, having 100 lines to look at every week and to see that I get one or two red powerball correct, warrants a natural emotional reaction - "oh shucks, i'm so unlucky". The validity of that statement is irrelevant as it only pertains to how one feels at that particular moment.

             

            "Didnt your education require at least a bit of match and science?"

            KY Floyd, you got to be kidding me. I went to Dartmouth for Undergrad and attended Duke Medical School for graduate school because I got rejected at Dartmouth. Do you need me to fax you a copy of my diploma?

            "Still paying off student loans"

            Ky Floyd, it costs money to go to two private institution. With housing&board, total cost of attending private institution is around $45k. I have a $160,000 student loan, fixed at 1.25%. I pay a simple/small monthly payment.

            "Are you homeless, starving, and riding your bike to wrok?"

            Of course I'm homeless. You are such an ass.

             

            It's nice to see that my first post/thread is greeted by such hostility. I will be no longer be participating on this forum. I dont think I need to explain myself. You are clearly being a smartass.

            I'm sure you're also curious as to why I'm up this late. Well, unfortunately I'm on call tonight. And to placate your inquiring mind, my employer is the hospital chain, Cleveland Clinic.

              diamondpalace's avatar - Untitled 2.jpg
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              Posted: July 20, 2009, 4:58 am - IP Logged

              How are you picking your numbers right now?


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                Posted: July 20, 2009, 5:50 am - IP Logged

                youtube.com/watch?v=pBeAEa7qAbs&feature=related

                This player spent $60 dollar a day. An estimate $600,000 over 9 years. In the end, he took home $13 million.


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                  Posted: July 20, 2009, 10:25 am - IP Logged

                  youtube.com/watch?v=pBeAEa7qAbs&feature=related

                  This player spent $60 dollar a day. An estimate $600,000 over 9 years. In the end, he took home $13 million.

                  My math shows 197,100 bucks spent, not 600,000.

                    x1kosmic's avatar - neptune vg2.gif

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                    Posted: July 20, 2009, 10:58 am - IP Logged

                    If I could afford $100 dollars, a draw,

                    I would be going with 50 picks,   and saying yes to power play.

                    In Power Ball.

                    I know it cuts down on the picks,  and it's a personal decision,  but the return could be better.

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                      Posted: July 21, 2009, 3:56 am - IP Logged

                      KY Floyd,

                      I really dont understand the reason for the hostility. Perhaps I may be over-analyzing your post.

                      I completely understand the odds of playing mut-state lotteries. Odds of getting hit by a lightning is 1:700,000. The Powerball? 1:195,000,000.

                      But nevertheless, having 100 lines to look at every week and to see that I get one or two red powerball correct, warrants a natural emotional reaction - "oh shucks, i'm so unlucky". The validity of that statement is irrelevant as it only pertains to how one feels at that particular moment.

                       

                      "Didnt your education require at least a bit of match and science?"

                      KY Floyd, you got to be kidding me. I went to Dartmouth for Undergrad and attended Duke Medical School for graduate school because I got rejected at Dartmouth. Do you need me to fax you a copy of my diploma?

                      "Still paying off student loans"

                      Ky Floyd, it costs money to go to two private institution. With housing&board, total cost of attending private institution is around $45k. I have a $160,000 student loan, fixed at 1.25%. I pay a simple/small monthly payment.

                      "Are you homeless, starving, and riding your bike to wrok?"

                      Of course I'm homeless. You are such an ass.

                       

                      It's nice to see that my first post/thread is greeted by such hostility. I will be no longer be participating on this forum. I dont think I need to explain myself. You are clearly being a smartass.

                      I'm sure you're also curious as to why I'm up this late. Well, unfortunately I'm on call tonight. And to placate your inquiring mind, my employer is the hospital chain, Cleveland Clinic.

                      I simply asked some questions. You don't even need to look in another thread to find  other new posters popping up and pegging any reasonable BS meter. Some of the claims we get are true, and some aren't. If you can't reread your own post and understand why somebody might be skeptical  a debt of 160k is way too steep.

                        Surge's avatar - Lottery-063.jpg
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                        Posted: July 21, 2009, 10:17 am - IP Logged

                        A debt of 160k is a little above average, barely,  for his education costs.  I know some physicians starting out who owe 100k more than that.

                        Keep it simple 

                          BobP's avatar - bobp avatar.png
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                          Posted: July 22, 2009, 3:45 am - IP Logged

                          KY Floyd,

                          I really dont understand the reason for the hostility. Perhaps I may be over-analyzing your post.

                          I completely understand the odds of playing mut-state lotteries. Odds of getting hit by a lightning is 1:700,000. The Powerball? 1:195,000,000.

                          But nevertheless, having 100 lines to look at every week and to see that I get one or two red powerball correct, warrants a natural emotional reaction - "oh shucks, i'm so unlucky". The validity of that statement is irrelevant as it only pertains to how one feels at that particular moment.

                           

                          "Didnt your education require at least a bit of match and science?"

                          KY Floyd, you got to be kidding me. I went to Dartmouth for Undergrad and attended Duke Medical School for graduate school because I got rejected at Dartmouth. Do you need me to fax you a copy of my diploma?

                          "Still paying off student loans"

                          Ky Floyd, it costs money to go to two private institution. With housing&board, total cost of attending private institution is around $45k. I have a $160,000 student loan, fixed at 1.25%. I pay a simple/small monthly payment.

                          "Are you homeless, starving, and riding your bike to wrok?"

                          Of course I'm homeless. You are such an ass.

                           

                          It's nice to see that my first post/thread is greeted by such hostility. I will be no longer be participating on this forum. I dont think I need to explain myself. You are clearly being a smartass.

                          I'm sure you're also curious as to why I'm up this late. Well, unfortunately I'm on call tonight. And to placate your inquiring mind, my employer is the hospital chain, Cleveland Clinic.

                          Don't take it personal, we don't get a lot of real doctors around here. 

                          A good education isn't always a help when it comes to lottery unless you use it to work out the odds of the various things you are doing trying to win, besides simply buying more tickets.

                          Knowing too much can kinda take the fun out of playing. 

                          Knowing too little can make winning even tougher. 

                          Kill some of that spare time on my website, maybe it will help.

                          http://www.lotto-logix.com

                          BobP

                            diamondpalace's avatar - Untitled 2.jpg
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                            Posted: July 22, 2009, 4:54 am - IP Logged

                            People will always try to put others down to higher themselves. If you take this personally, you'll never strive, because the moment you stand up you'll sit down just as fast.

                            Also, should understand this since playing the lottery you're put down every time, just look at the odds.

                            But we're still mining it.

                              xandercage's avatar - eye storm.jpg
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                              Posted: July 23, 2009, 5:01 pm - IP Logged

                              Joshua, I've posted a table to display what a small invest can pay over several years, using compound interest. There are additional ways to profit even more, by investing increments of say 2,000 dollars yearly; over the course of 12 years.