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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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eddessaknight's avatar - nw paladin.jpg
LAS VEGAS
United States
Member #47729
November 22, 2006
4494 Posts
Online
Posted: July 31, 2009, 4:56 pm - IP Logged

@LotteryjunkieE99, et al-

 

Consider yet a the deeper level-

Realtive to fortune hunting & striking at rich;  in Viva Las Vegas motto:

"Player has to be WILLING to be LUCKY to win."

 

Bonne Chance,

EddessaKnight Sun Smiley

    konane's avatar - wallace
    Atlanta, GA
    United States
    Member #1265
    March 13, 2003
    3333 Posts
    Offline
    Posted: July 31, 2009, 5:27 pm - 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?

    Welcome to Lottery Post where you can learn a lot, have lots of fun while doing it.

    Please join in Maddog's Powerball (and Mega Millions) Challenges where you can get a better handle on which numbers are likely to hit.  His Mega Millions and Powerball Challenges are open to all.  

    This is for Mega Millions tonight, Maddog will post for Powerball later. http://www.lotterypost.com/thread/197912

    Check out the format and plunge right in, just please put your picks in numerical order.

    I keep a running tally of what I've posted, versus what has hit then do my rundowns.  That method helps you see trends and probabilities, narrowing down your plays and lowering subsequent weekly cash outlay.  No guarantees but in my opinion it gives you better odds than quick picking everything.

    Good luck to everyone!