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Random Observations & Things To Ponder

Topic closed. 31 replies. Last post 6 years ago by Coin Toss.

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rdgrnr's avatar - walt
Way back up in them dadgum hills, son!
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April 28, 2009
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Posted: August 8, 2010, 5:59 am - IP Logged


I suspect people who win by QP are also more likely to want to appear on a tv show.  Those who win by wheeling more likely to think things through and choose not to draw attention to themselves.   As for the ticket, a prop so as not to confuse the audience.   

BobP

Now that was the some of the better covert snootiness I've seen on LP Bob, LOL.

I appreciate the wording used to illustrate the point while staying above the fray. Always a key quality in a wordsmith's repertoire.

I salute you.


                                             
                     
                                         

 

 

 

 

                                                                                                   

"The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                            --Edmund Burke

 

 

    GiveFive's avatar - Lottery-026.jpg
    NY State
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    Posted: August 8, 2010, 8:29 am - IP Logged

    RJoh,

    Most people live paycheck to paycheck. That doesn't mean they can't make their house payments, buy food, or pay for utlities.

    "Heat, eat, and taxes" means no other debt, no mortgage, no car payments, no credit card bills.

    When all is said and done, the average working American is deeper in debt at the end of the year, and that excludes a house and car payment.

    That is a large part of the attraction of the lottery, it's the working slobs only real hope of ever escaping the "trap".

    Thanks Coin Toss!  You couldn't have said it better.

    We cover all the bases every month, it's just there's no discretionary money left over so we can go out and have some fun! I miss the days way back when we used to be able to go on vacation, eat a a real nice steakhouse, and buy a new car every five or six years.

    In 2009, I retired from a Fortune 500 after 32 years.  In the last 5 or 6 years of my career, that corporation saw fit to give zero percent pay raises to their employee's.  (If an employee was lucky enough to get a raise, it was usually a whopping 1 to 1.5%)  During those last few years, I made sure I was really loading my 401K, so things were really tight during that time. 

    If I didnt have my mortgage, those ridiculously high real estate taxes, medical bills (my health insurance pays 80%, but that 20% I pay for a life threatening condition I have is a killer), wife's car payment, and college tuitions, then at the end of the month we'd have a few bucks left over to enjoy life. 

    I play a Pick 5 lottery for the fun of it, but also with the dream of winning a JP that might get me enough money to payoff the mortgage.  That's all I want.  Sure we could sell the house and move, but we're not at the point in our plan to do that. My wife is still working and isnt ready to retire just yet, two of our kids still are in college and they come home for the summer. I'm not yet 62, so no social security etc. I am collecting a pension, but it doesn't feed the bulldog, so I got this little part time job. I think you get the idea.

    About playing the lottery --  You will lose more than you win. Until you hit a jackpot.  Then everything changes!

      Coin Toss's avatar - shape barbed.jpg
      Zeta Reticuli Star System
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      Posted: August 9, 2010, 11:53 pm - IP Logged

      Yup, got the idea, GiveFive and your post was blatantly honest and unfortunately described the plight of most working Americans.

      ////////////////////////////

      Something to ponder:

      Players who would never play a quick pick are often the same ones that can't wait to buy raffle tickets.

      Scared

      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.

        GiveFive's avatar - Lottery-026.jpg
        NY State
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        Posted: August 10, 2010, 9:48 am - IP Logged

        Yup, got the idea, GiveFive and your post was blatantly honest and unfortunately described the plight of most working Americans.

        ////////////////////////////

        Something to ponder:

        Players who would never play a quick pick are often the same ones that can't wait to buy raffle tickets.

        Scared

        While I wouldn't describe my financial situation as a "plight", it's none the less a predicament. 

        We do have a very nice quality of life, and we've enjoyed it for more than 25 years.  I dont resent the fact that I'm broke because I chose to send our kids to private colleges.  I have to admit it, I want my cake and be able to eat it too.  That's something that used to happen.  But the times, they have changed.

        I just want the financial pressure off.  Here's why: Located in western Connecticut, about 40 miles from my house, is a fantastic steak house called "Chucks".  Fifteen years ago, Saturday would roll around, and the wife and I would look at each other and say "Lets go to Chucks tonite."  So we'd pile all three kids in the minivan and away we'd go.  We used to drop an easy $150.00 in Chucks.  But we cant do that now.  Granted Chuck's prices have gone up, and now for just two us, we'd have to pony up $100.00, but it aint the numbers printed on Chuck's menu that's the problem. 

        No, the root cause of the problem is my former employer.  They chose to freeze salaries even while reporting record earnings per share.  Then in April of last year, they laid off thousands even though they raked in record profits.  Since I had 32 years with them, I was eligible to retire.  That's not the case with many of my co-workers.  They're still searching for jobs that aren't there. 

        So the wife still works, (she wants to anyway as she's in her early fifties) and I collect my pension, and work at my part time job. (I'd take a full time job, that's IF I could find one...)  And last year, in May right after I was forced into retirement, I started playing NY's Take5.  Will I win a JP?  Maybe.  Maybe not.  But I am having fun trying.  If nothing else, as a result of playing Take5, I found The LP.  That aint so bad!

        About playing the lottery --  You will lose more than you win. Until you hit a jackpot.  Then everything changes!

          rcbbuckeye's avatar - Lottery-043.jpg
          Texas
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          Posted: August 12, 2010, 12:34 pm - IP Logged

          While I wouldn't describe my financial situation as a "plight", it's none the less a predicament. 

          We do have a very nice quality of life, and we've enjoyed it for more than 25 years.  I dont resent the fact that I'm broke because I chose to send our kids to private colleges.  I have to admit it, I want my cake and be able to eat it too.  That's something that used to happen.  But the times, they have changed.

          I just want the financial pressure off.  Here's why: Located in western Connecticut, about 40 miles from my house, is a fantastic steak house called "Chucks".  Fifteen years ago, Saturday would roll around, and the wife and I would look at each other and say "Lets go to Chucks tonite."  So we'd pile all three kids in the minivan and away we'd go.  We used to drop an easy $150.00 in Chucks.  But we cant do that now.  Granted Chuck's prices have gone up, and now for just two us, we'd have to pony up $100.00, but it aint the numbers printed on Chuck's menu that's the problem. 

          No, the root cause of the problem is my former employer.  They chose to freeze salaries even while reporting record earnings per share.  Then in April of last year, they laid off thousands even though they raked in record profits.  Since I had 32 years with them, I was eligible to retire.  That's not the case with many of my co-workers.  They're still searching for jobs that aren't there. 

          So the wife still works, (she wants to anyway as she's in her early fifties) and I collect my pension, and work at my part time job. (I'd take a full time job, that's IF I could find one...)  And last year, in May right after I was forced into retirement, I started playing NY's Take5.  Will I win a JP?  Maybe.  Maybe not.  But I am having fun trying.  If nothing else, as a result of playing Take5, I found The LP.  That aint so bad!

          I feel for ya. My wife was forced into early retirement a few years ago, and only by the grace of God she found a good job just 5 miles down the road, but at much lower salary. I sell furniture, and like you just want the pressure off. I don't make much $. Got one kid in college paying by Student Loans and Parent Loans. Another kid graduates from high school next year and I have no idea how he's going to college because I can't go into hock like that for both. In debt up to my ears, and it ain't getting better.

          OTOH, I know there are people in much worse shape than I am, and I am grateful for what I have.

          CAN'T WIN IF YOU'RE NOT IN

          A DOLLAR AND A DREAM (OR $2)

            GiveFive's avatar - Lottery-026.jpg
            NY State
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            Posted: August 13, 2010, 11:11 pm - IP Logged

            I feel for ya. My wife was forced into early retirement a few years ago, and only by the grace of God she found a good job just 5 miles down the road, but at much lower salary. I sell furniture, and like you just want the pressure off. I don't make much $. Got one kid in college paying by Student Loans and Parent Loans. Another kid graduates from high school next year and I have no idea how he's going to college because I can't go into hock like that for both. In debt up to my ears, and it ain't getting better.

            OTOH, I know there are people in much worse shape than I am, and I am grateful for what I have.

            You found the secret buckeye....

            There are loads of people in much worse shape than you.  I see them all around me, I know how screwed they are. And because of that, I dont complain.  I know things could be much worse are for me than they actually are, so I can get through each day without being overly depressed.

            I know good people who lost their homes due to foreclosure. They didnt do anything to deserve what happened to them. They say things to me like, "Oh well, my wife's OK, the kids are fine, nobody died.  We'll be OK."  That's how they get through it all.  I'm not in their situation, but there for the grace of God go I........

            About playing the lottery --  You will lose more than you win. Until you hit a jackpot.  Then everything changes!

              Coin Toss's avatar - shape barbed.jpg
              Zeta Reticuli Star System
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              Posted: August 24, 2010, 12:15 am - IP Logged

              Many of the same systems are sold with different packaging.

              The same system may be called Triangle, Pyramid, Delta or something else but it's the same thing.

              _____________________________________

              People who approach something like lottey jackpot games where the odds are in the millions tens of millions, and hunydres of millions against the player are with the expectation of winning the easiest ones to sell systems to.

              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.

                BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
                Magnolia, Delaware
                United States
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                July 20, 2005
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                Posted: August 24, 2010, 12:44 am - IP Logged

                Yup, got the idea, GiveFive and your post was blatantly honest and unfortunately described the plight of most working Americans.

                ////////////////////////////

                Something to ponder:

                Players who would never play a quick pick are often the same ones that can't wait to buy raffle tickets.

                Scared

                I have yet to buy any state lottery raffle ticket! I know I'll "never" do such a foolish thing such as to buy a computer generated set of numbers on a raffle ticket from the state lottery! Remember people the majority of us here despise any computer generated number games that some of the state lotteries already run around the country! But some of you so say that you don't play those types of games are the first to plop down your $10.00 or $20.00 dollar bill on a raffle ticket that the state lottery will later use a computer to generate the numbers for the winners of that said raffle drawing! What a shame how some here say one thing but in reality do the exact opposite of what they say......  No No

                Keep dreaming the impossible dream, it just may come true! Thumbs Up

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                  Kentucky
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                  Posted: August 24, 2010, 9:15 am - IP Logged

                  When the lottery programs such as How the Lottery Changed My Life and Curse of the Lottety are aired and they show people's winnig tickets none of those tickets have ever been numbers that were wheeled.

                  Granted, you just get a brief glimpse of them and usually it's a $1 ticket or a $5 ticket and maybe those people played others, but the ones they show never have lines of the same numbers having been wheeled.

                  ______________________________________________

                  You never hear of people who won a millioin or more on a scratcher blowing it all.

                  If you think about it, it's more beneficial to the State Lotteries by showing a player winning the jackpot playing a $1 QP whether they actually bought 10, 100 QPs or used a system. They don't want the average player thinking they need some elaborate wheeling system to win the jackpot or need to buy a large number of QPs.

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                    Kentucky
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                    Posted: August 24, 2010, 9:44 am - IP Logged

                    You never hear of people who won a millioin or more on a scratcher blowing it all.

                    Winning a million or about $700K after taxes isn't enough to change a life style such that after it's gone the life style have to change again.  It's enough to pay off a house and have a little saved for the kids education, the things one might plan to do whether they won a lottery or not.  Doing those kinds of things aren't new worthy.

                    On one of first "How the lottery changed my life" shows had a young woman who hit a Win for Life scratch-off. Her grand prize was $1000 a week for life which by PB, MM, or even Lotto games standards doesn't seem significant, but it drastically change her life. A few stories like hers are OK but if all the shows were winners like her, it would be boring TV. The same is true about shows like Lottery Losers: how many times can we watch people blowing millions before we finally switch the channel?

                    I was in Vegas with a group of golfers and one of them hit a $5000 slot jackpot on our second day there and I saw him withdrawing money from an ATM on the day we were leaving. If he did lose it all back, he never told any of us. Not to many people want others to know they blew their jackpot so you won't find many who will tell their story on TV.

                      RJOh's avatar - chipmunk
                      mid-Ohio
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                      Posted: August 24, 2010, 10:00 am - IP Logged

                      On one of first "How the lottery changed my life" shows had a young woman who hit a Win for Life scratch-off. Her grand prize was $1000 a week for life which by PB, MM, or even Lotto games standards doesn't seem significant, but it drastically change her life. A few stories like hers are OK but if all the shows were winners like her, it would be boring TV. The same is true about shows like Lottery Losers: how many times can we watch people blowing millions before we finally switch the channel?

                      I was in Vegas with a group of golfers and one of them hit a $5000 slot jackpot on our second day there and I saw him withdrawing money from an ATM on the day we were leaving. If he did lose it all back, he never told any of us. Not to many people want others to know they blew their jackpot so you won't find many who will tell their story on TV.

                      I see what you mean, if those PB and MM winners of $100M took the annuities and thought of them as winning $60,000-$75,000 a week for 25-30 years, their stories wouldn't be as interesting.

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

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                        Posted: August 24, 2010, 12:02 pm - IP Logged

                        When the lottery programs such as How the Lottery Changed My Life and Curse of the Lottety are aired and they show people's winnig tickets none of those tickets have ever been numbers that were wheeled.

                        Granted, you just get a brief glimpse of them and usually it's a $1 ticket or a $5 ticket and maybe those people played others, but the ones they show never have lines of the same numbers having been wheeled.

                        ______________________________________________

                        You never hear of people who won a millioin or more on a scratcher blowing it all.

                        When the economy tanked, they showed a college student who had won a million on a scratchoff and invested it all hence lost half with the market.   It took the sentionalism of the economic difficulties to make that scratchoff win newsworthy.

                        Sometimes I think there's too much of a rush to invest it all.   The only algorithm proven to work in investing is dollar cost averaging and that presumes the money available for investing is available in regular amounts over a long period of time.   Only taking an annuity would allow you the benefit of dollar cost averaging without losing investment potential.   That college student would've been laughing through the recession had he been dollar cost averaging, the recession would've been a huge gain to someone in that position.   Of course, the driving force between taking a cash value or an annuity will be immediate need in terms of bills and debts then taxation considerations.

                        I also wonder if I would actually be diligent enough to manage the money appropriately.   Often in my life, I've resolved to watch every penny and occasionally I do for periods as long as a year.   There's tremendous advantages to doing so and it's clear that a couple of decades of such behaviour can make you a millionaire but I always lapse into my carefree ways.

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                          Posted: August 24, 2010, 12:26 pm - IP Logged

                          I see what you mean, if those PB and MM winners of $100M took the annuities and thought of them as winning $60,000-$75,000 a week for 25-30 years, their stories wouldn't be as interesting.

                          I can't even think of a single lottery story where the winner took the AP.   One would think that with a 100 million jackpot, the first check alone would be enough to change your life.   If you were reasonable, then you could be very very happy each and every year for 25 years.

                            Coin Toss's avatar - shape barbed.jpg
                            Zeta Reticuli Star System
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                            Posted: August 24, 2010, 4:51 pm - IP Logged

                            I can't even think of a single lottery story where the winner took the AP.   One would think that with a 100 million jackpot, the first check alone would be enough to change your life.   If you were reasonable, then you could be very very happy each and every year for 25 years.

                            On the latest The Lottery changed My Life they interviewed a woman in Colorado who took the annual payments and now that she's near the end of them she's opening a restaurant.

                            I'm at an age where I wouldn't consider annual payments, but even if I was younger I'd be very wary of going thsat route considering the agenda of the current regime in D.C.

                            Consider what's going to happen to inheritances.

                            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.

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                              Posted: August 25, 2010, 11:50 pm - IP Logged

                              On the latest The Lottery changed My Life they interviewed a woman in Colorado who took the annual payments and now that she's near the end of them she's opening a restaurant.

                              I'm at an age where I wouldn't consider annual payments, but even if I was younger I'd be very wary of going thsat route considering the agenda of the current regime in D.C.

                              Consider what's going to happen to inheritances.

                              The annuity doesn't end with your life, the remainder of the payments is still with the annuity which is part of your estate but your heirs would have to pay a hefty inheritance tax on it.   If I won an American jackpot that was large enough, I would consider the annuity payments even though my Doctors expected me to die years ago however it would be through a blind trust both to preserve anonymity and to avoid inheritance taxes.

                              Interestingly, there is one game in Western Canada called PayDay where the annuity prize is really for life, not 20 years, 25 or 30 years but actually for life.   Nobody takes it of course since an annuity prize in Canada would incur income tax while a lump sum would be tax free.   I suspect that if you claimed through a trust, they would only allow the lump sum option.