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Does anyone here actually turn a profit in the long run?

Topic closed. 69 replies. Last post 6 years ago by corius$1918!.

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rcbbuckeye's avatar - Lottery-043.jpg
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October 23, 2007
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Posted: September 12, 2010, 10:11 am - IP Logged

That most likely is not going to happen, at least in the jackpot games. I usually win about 15% to 20% of what I play each year, but I don't expect to make a profit, I'm playing to hit a jackpot. I also try to keep my cost of play down, because with the odds in the big games, playing a crapload of tickets just doesn't increase your chances THAT much compared to what it costs to play.

If a person is wanting to turn a profit, P3 is the game to play, but good luck with that too. I actually like to play P3, and I follow the results in my state, it's just that if I'm going to throw money at a lottery, I want to win retirement type money.

To each his own.

CAN'T WIN IF YOU'RE NOT IN

A DOLLAR AND A DREAM (OR $2)

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    Sunny California
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    Posted: September 12, 2010, 10:14 am - IP Logged

    I don't think many people think about their "profits" on a day to day basis or maybe even ever. Otherwise they probably wouldn't play. If a jackpot is your goal then it will wipe out all your lottery losses, (assuming it's a BIG jackpot) And since that's what most players are aiming for (again,assuming) then they don't give much thought to what they're "profiting" along the way or what they're spending to get to the end of the rainbow. 

    In jackpot playing I think the mentality is "all or nothing." I mean how many times can you get excited over winning a free replay ticket or $20-30 bucks? Just my 2 cents.

      RJOh's avatar - chipmunk
      mid-Ohio
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      Posted: September 12, 2010, 1:15 pm - IP Logged

      I keep track of both my wins and losses which really amounts to keeping track of my losses since I usually spend $15, win $2-$3 which means a lost of $12-$13.  Overall that can and do usually amount to $1500-$2000 a year which I see as the cost of gambling to win millions of dollars. 

      The closest I've ever come to making a profit for the year was the time I match 5/6 in a local lottery for $1500 which put me $800 ahead at the time but by the end of the year I showed a $500 lost.  Unless you win a jackpot, you probably going to show a lost every year.  I just try to limit my loses to under $2000 yearly.

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

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        Kentucky
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        Posted: September 12, 2010, 1:19 pm - IP Logged

        I have.  You're on the top 10 Highest Lifetime Prize Ratio list with $18,630 wins. The problem is, the amount of loses you wrack up will most likely be too discouraging for you to keep going long enough to turn a profit.  Your wagers were $13,788.  Your profit was $4,842.  What year did you start posting predictions, again?  Not a single person has a jackpot nor a profit larger than a few thousand dollars.

        I mean, if you've spent $500 in a month and only netted $100, that's pretty discouraging.  Your ability to pay bills would suffer big time, as well.  Remember, these guys are playing every day in multiple states.

        In the last 30 days, dbello, spent $4,023 and won $6,000.  Who has thousands of dollars of disposable money to be taking wild chances like that and for so little profit?  You might as well get a second job.

         

        jimmy4164,

        I'm not avoiding the lottery.  I'm just making a point.  If one is going to play the lottery, they need to be aware of issues like this.

        "I mean, if you've spent $500 in a month and only netted $100, that's pretty discouraging."

        It really depends on how it's done. If someone makes 12,000 $1 bets over a two year period and only wins once for $14,400 giving them an average of winning $100 for every $500 they wagered, it would be very discouraging. Or worse had they won the $14,400 in the first month of play and lost the majority of their winning by continuing to play for the next 23 months.

        Even if after every month they averaged $100 profit by winning many smaller prizes playing a pick-5 game, it still would be discouraging playing $500 a month for two years and never winning a jackpot. Especially when they see someone holding one of those huge jackpot checks on their lottery website and read where it was the first ticket they ever bought and the only spent a buck.

        On the other hand, they could continue to grind out their small wins for years and hopefully some day cashing in a large jackpot ticket.

        "In the last 30 days, dbello, spent $4,023 and won $6,000."

        I checked that out and they predicted 140 pick-4 numbers in several states and won the $6000 by catching 10 $200 box hits in three of the states. I doubt they played the entire $4023 in real money but if one of those 10 boxes hit in the state where they lived, they could have have won $2000 on a more realistic $140 monthly wager.

          Luminus's avatar - ouskuu

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          Posted: September 13, 2010, 2:26 am - IP Logged

          All pretty discouraging.  And after that battle with tiggs95, and no one else having the testicular fortitude to take the challenge, I'm pretty much convinced that systems are useless.  No need for any delusions about lottery strategies anymore.Dupe Alert

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
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            January 17, 2006
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            Posted: September 13, 2010, 2:47 am - IP Logged

            Luminus,

            To most people lottery means a big jackpot, a life changing amount of money won.

            Considering the odds of hitting opne of those jackpots I think RJOh described it pretty well when he said the losses are the cost of the chance of winning millions.

            While it certainly would be nice to win a jackpot, going into playing lotteries with an unrealisitc expectation of winning only sets a player up for disaapointment.

            Never let the hope of wining turn into a prison of expectation.

            RE: systems. If they worked with the people selling them be selling them or using them to beat the lottery consistently? Follow the money trail, so to speak. It's not like system sellers are beating the lottery and sharing the information for nominal fees out of a sense of altruism.

            Some authors who write about the stock market like to use the story of the California Gold Rush and who really made the money. While some miners did strike gold, a very few at that, the people who made the real money were the hardware merchants selling them the picks and shovels and supplies for their trips.

            Let's call the miners the few jackpot winners, and let'cs call the hardware merchants the system sellers.

            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.

              Luminus's avatar - ouskuu

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              Posted: September 13, 2010, 8:28 am - IP Logged

              Luminus,

              To most people lottery means a big jackpot, a life changing amount of money won.

              Considering the odds of hitting opne of those jackpots I think RJOh described it pretty well when he said the losses are the cost of the chance of winning millions.

              While it certainly would be nice to win a jackpot, going into playing lotteries with an unrealisitc expectation of winning only sets a player up for disaapointment.

              Never let the hope of wining turn into a prison of expectation.

              RE: systems. If they worked with the people selling them be selling them or using them to beat the lottery consistently? Follow the money trail, so to speak. It's not like system sellers are beating the lottery and sharing the information for nominal fees out of a sense of altruism.

              Some authors who write about the stock market like to use the story of the California Gold Rush and who really made the money. While some miners did strike gold, a very few at that, the people who made the real money were the hardware merchants selling them the picks and shovels and supplies for their trips.

              Let's call the miners the few jackpot winners, and let'cs call the hardware merchants the system sellers.

              Nice analogy.I Agree!

                st.germain's avatar - Tarlor
                chicago ill.
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                Posted: September 13, 2010, 9:36 am - IP Logged

                The original question was  "Does anyone here actually turn a profit in the long run?"

                Almost ten years ago  I won the little " Little Lotto "  jackpot "Twice "  4 months apart and along the way won a lot of little "nice" pots.  Then about 2  and a half years ago I picked all 5 numbers in the mega game but not the Megaball.  I figure that along the way ..I have been playing with "their" money!

                So...to say that this is pretty all discouraging...that"s "Hogwash!"  Just because their are some who will not say that they are winning something ...doesn"t mean that there isn"t any one winning anything around.

                The little lotto was paying 200k at the time and the mega game pays out 250k today. The only "real" issue was with the amount that is deducted for taxes..."gambing taxes" and then having to claim the rest as income the following "APRIL 15th".for your other taxes. All  said...that leaves you only half of what you earned in the first place. 

                Delusional!!  I think not!

                If you can"t help....then don't....;just leave us with our own sense of Grandeur!!!!!!!!!!!!!!!!!!      Lighten Up   luminus your bulb is getting dim.

                Yes you can turn a profit in the "LONG RUN" !!!!

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                  Sunny California
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                  Posted: September 13, 2010, 9:45 am - IP Logged

                  All pretty discouraging.  And after that battle with tiggs95, and no one else having the testicular fortitude to take the challenge, I'm pretty much convinced that systems are useless.  No need for any delusions about lottery strategies anymore.Dupe Alert

                  I don't believe one run through of a test is enough to determine that "systems" are useless. That's a pretty big statement. So I guess the Lottery Systems board on here is useless. Thud NOT ! I've learned a ton on there.

                  Systems run hot and cold, we all know that. Perhaps this was just a cold streak in your system. No need to give up!


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                    July 10, 2010
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                    Posted: September 13, 2010, 10:21 am - IP Logged

                    The original question was  "Does anyone here actually turn a profit in the long run?"

                    Almost ten years ago  I won the little " Little Lotto "  jackpot "Twice "  4 months apart and along the way won a lot of little "nice" pots.  Then about 2  and a half years ago I picked all 5 numbers in the mega game but not the Megaball.  I figure that along the way ..I have been playing with "their" money!

                    So...to say that this is pretty all discouraging...that"s "Hogwash!"  Just because their are some who will not say that they are winning something ...doesn"t mean that there isn"t any one winning anything around.

                    The little lotto was paying 200k at the time and the mega game pays out 250k today. The only "real" issue was with the amount that is deducted for taxes..."gambing taxes" and then having to claim the rest as income the following "APRIL 15th".for your other taxes. All  said...that leaves you only half of what you earned in the first place. 

                    Delusional!!  I think not!

                    If you can"t help....then don't....;just leave us with our own sense of Grandeur!!!!!!!!!!!!!!!!!!      Lighten Up   luminus your bulb is getting dim.

                    Yes you can turn a profit in the "LONG RUN" !!!!

                    St. Germain,

                    "Yes you can turn a profit in the 'LONG RUN' !!!!"

                    Not UNLESS you hit a jackpot along the way.

                    Of course, you CAN win, with or without a system, so the answer to the original question is clearly YES!  And that's why we play.  However, experiences like yours are far beyond what the VAST majority of players can ever hope for.  You were very LUCKY.  The reason why everyone needs to understand this is because too many people are spending money on the lottery at the expense of important family needs.

                    Believing that there are SYSTEMS that can defy the long understood and accepted mathematics of Probability causes people to foolishly gamble beyond their means.

                    And from another angle:

                    $39 paid to a software vendor hawking Random Number Generators would be better spent on Powerball Quick Picks!

                    --Jimmy4164

                    P.S.  Congratulations on your good fortune.  Spend it wisely.


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                      Posted: September 13, 2010, 11:21 am - IP Logged

                      Luminus,

                      To most people lottery means a big jackpot, a life changing amount of money won.

                      Considering the odds of hitting opne of those jackpots I think RJOh described it pretty well when he said the losses are the cost of the chance of winning millions.

                      While it certainly would be nice to win a jackpot, going into playing lotteries with an unrealisitc expectation of winning only sets a player up for disaapointment.

                      Never let the hope of wining turn into a prison of expectation.

                      RE: systems. If they worked with the people selling them be selling them or using them to beat the lottery consistently? Follow the money trail, so to speak. It's not like system sellers are beating the lottery and sharing the information for nominal fees out of a sense of altruism.

                      Some authors who write about the stock market like to use the story of the California Gold Rush and who really made the money. While some miners did strike gold, a very few at that, the people who made the real money were the hardware merchants selling them the picks and shovels and supplies for their trips.

                      Let's call the miners the few jackpot winners, and let'cs call the hardware merchants the system sellers.

                      I Agree!

                        st.germain's avatar - Tarlor
                        chicago ill.
                        United States
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                        337 Posts
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                        Posted: September 13, 2010, 11:24 am - IP Logged

                        St. Germain,

                        "Yes you can turn a profit in the 'LONG RUN' !!!!"

                        Not UNLESS you hit a jackpot along the way.

                        Of course, you CAN win, with or without a system, so the answer to the original question is clearly YES!  And that's why we play.  However, experiences like yours are far beyond what the VAST majority of players can ever hope for.  You were very LUCKY.  The reason why everyone needs to understand this is because too many people are spending money on the lottery at the expense of important family needs.

                        Believing that there are SYSTEMS that can defy the long understood and accepted mathematics of Probability causes people to foolishly gamble beyond their means.

                        And from another angle:

                        $39 paid to a software vendor hawking Random Number Generators would be better spent on Powerball Quick Picks!

                        --Jimmy4164

                        P.S.  Congratulations on your good fortune.  Spend it wisely.

                        thanks jimmy...i saw that on another thread that luminous wanted to test our testicular mettle with a one week challenge. That was unrealistic...let's say a challenge over the course of one year.....  that would be more of a test.....and  realistic if he can hang in there that long, lol. 

                        What people seem to think is that a system will win for you when it is you that still have to PICK the numbers.  so, if you have a decent wheel and can pick the numbers you surely will line up for a big win.

                        This time....I play for the millions.....a few hundred k doesn't last long believe me...new car..new house...some new girl friends   LOL!!!!

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                          NASHVILLE, TENN
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                          February 20, 2006
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                          Posted: September 13, 2010, 11:41 am - IP Logged

                          IMHO, playing the P3 and P4 games will, IN THE LONG RUN, make everyone a loser.  Yet the majority of people on this site play those games.  More power to them.  It's their money; they can do with it as they please.

                          Even the P5 , P6 and jackpot games will, in the long run, make everyone a loser except for those fortunate few who win the million dollar jackpot (and some of them will become losers i.e. Jack Whitaker).  To say, "Hey!  I won $6000 back in 2005" is to say nothing at all.  Yes, there will be some big winners but they will turn into losers in the long run.

                          To me the thrill is not in winning nor in the dream of becoming a millionaire overnight.  The thrill is searching for an algorithym that will turn a losing proposition into a profitable proposition.  On those cold, wet winter days when being outside is not an option, I like to sit in front of my computer, open my Excel spreadsheet, and study the relationship between the numbers.  "What if I try this?" I ask myself.  I then program my Excel to find the answer to my question. 

                          I read the thoughts posted on this site.  Some are good and insightful; some are just plain juvenile.  Most posts push the envelope; some seal the envelope shut, stamp and mail it (and criticize those who wish to push the envelope).

                          Until a profitable algorithym is found, the lottery will always be a losing proposition IN THE LONG RUN.

                          *******************************

                          Help BP clean up the Gulf.  Buy a tank of BP gas today.

                           


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                            dover delaware
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                            April 26, 2004
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                            Posted: September 13, 2010, 11:51 am - IP Logged

                            you will never ever get back what you put in  unless of course you win powerball or any big lottery  lesonook  so why do we play?

                              savagegoose's avatar - ProfilePho
                              adelaide sa
                              Australia
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                              April 11, 2006
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                              Posted: September 13, 2010, 12:11 pm - IP Logged

                              best tip is to look at the money you spend on lotto as entertainment, a straight out loss. but providing you with entertainment. only bet what you can afford to blow. thats how i do  it, and yes over the 20 plus years ive never hit a jackpot, but have had 3x 5/6 hits.  still im a loser.

                              but if i dont play, then i will never win.

                               

                              to reply to the turn a profit in the long run question. My system for keno is to play a low spot  number until i have bet the same amount that winning would pay back and then raise the spot.

                              although i have claimed a few good wins over the years i am now chasing the spot 7, and need to bet upto $6k before going to spot 8.

                              i never subtracted my wins from my outlay i just restarted at spot 3, and kept counting, pocketting the wins as pocket money.

                               

                              i guess it will eventually pay off, but yeah i have to keep playing, their bet is i will die of old age before i hit  it, and then i wont care ill be dead.

                              2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = ?  TOT =  -3596

                              keno historic = -2291 ; 2015= -603; 2016= -424; 2017 = ? TOT = - 3318