Welcome Guest
Log In | Register )
You last visited December 4, 2016, 3:15 pm
All times shown are
Eastern Time (GMT-5:00)

Playing the Lottery as a Business

Topic closed. 65 replies. Last post 3 years ago by Ronnie316.

Page 1 of 5
54
PrintE-mailLink
Clubpulse1's avatar - 1zyelco
Raleigh, NC
United States
Member #130282
July 10, 2012
4792 Posts
Offline
Posted: May 24, 2013, 8:32 pm - IP Logged

It's a known fact that the lottery is just like Vegas where it's set up for the House to always win regardless of the payout. It's also true that most of us lose more than we win irrespective if we play online in multiple states or in stores. The final fact is that most State sponsored lottery games beit Pick 3, Pick 4, Cash 5, Scratch-Offs, Mega Millions, & Powerball are set up as Non-Profit Organizations.

Here's what they don't want you to know. You can claim up to 28% of your gross income from your career, 9 to 5 jobs, and earnings from the lottery as charitable contributions b/c the lotteries are set up as non-profits.

Thus, you can save all your tickets throughout the year and write them off on your taxes. Most stores will give you the losing tickets for free. Some lottery players are setting up websites where people can send their losing tickets for novice items.

Finally, if I won the Mega Millions or the Powerball, I would take the lump sum payment, pay off all my debt, and set up a small foundation(non-profit) where I put most of my money into that would be both Federal and State exempt from taxes (ie Bill & Melinda Gates Foundation). This is hoe the super rich keep from paying taxes on their millions & billions. The investment strategy of the week that Fidelity and Vanguard can not beat on the return is the following: Go to Fidelity and Vanguard and set up an all-in-one investment fund. Put 60% of your investment in the Total Bond Market, 22% in the 500 Index Fun(basically most you a small minority owner in the Top 500 Business in America), and 18% in the Total International Market. No investment broker in the country can top this strategy no matter what they tell.

FIN

    Lucky Loser's avatar - bucks
    Texas
    United States
    Member #86154
    January 30, 2010
    1648 Posts
    Offline
    Posted: May 24, 2013, 8:49 pm - IP Logged

    It's a known fact that the lottery is just like Vegas where it's set up for the House to always win regardless of the payout. It's also true that most of us lose more than we win irrespective if we play online in multiple states or in stores. The final fact is that most State sponsored lottery games beit Pick 3, Pick 4, Cash 5, Scratch-Offs, Mega Millions, & Powerball are set up as Non-Profit Organizations.

    Here's what they don't want you to know. You can claim up to 28% of your gross income from your career, 9 to 5 jobs, and earnings from the lottery as charitable contributions b/c the lotteries are set up as non-profits.

    Thus, you can save all your tickets throughout the year and write them off on your taxes. Most stores will give you the losing tickets for free. Some lottery players are setting up websites where people can send their losing tickets for novice items.

    Finally, if I won the Mega Millions or the Powerball, I would take the lump sum payment, pay off all my debt, and set up a small foundation(non-profit) where I put most of my money into that would be both Federal and State exempt from taxes (ie Bill & Melinda Gates Foundation). This is hoe the super rich keep from paying taxes on their millions & billions. The investment strategy of the week that Fidelity and Vanguard can not beat on the return is the following: Go to Fidelity and Vanguard and set up an all-in-one investment fund. Put 60% of your investment in the Total Bond Market, 22% in the 500 Index Fun(basically most you a small minority owner in the Top 500 Business in America), and 18% in the Total International Market. No investment broker in the country can top this strategy no matter what they tell.

    FIN

    I'd like to focus on only the first two sentences here. What you say is actually true but, there are also  reasons behind it all as well. The main reasons, in my humble opinion, are failure to implement and stick to a proper systematic approach, and, greed. Money can, in fact, be made playing the small games as long the player is very well disciplined in conjunction with a system.

     

    L.L.

    Small games, frequent wins, and regular payouts 'cause.....

    There are seven days in the week...'Someday' isn't one of them.

    #lotto-4-a-living

      Clubpulse1's avatar - 1zyelco
      Raleigh, NC
      United States
      Member #130282
      July 10, 2012
      4792 Posts
      Offline
      Posted: May 24, 2013, 9:10 pm - IP Logged

      I'd like to focus on only the first two sentences here. What you say is actually true but, there are also  reasons behind it all as well. The main reasons, in my humble opinion, are failure to implement and stick to a proper systematic approach, and, greed. Money can, in fact, be made playing the small games as long the player is very well disciplined in conjunction with a system.

       

      L.L.

      I agree. I make a lot of money several times a week on the Pick 4 Lottery in N.C. I have noticed that when I get greedy and try to double down a a set of numbers there is always a "Flip", "Mirror", or 1up and 1down scenario that keeps me from winning. I have my own strategy that I have created on paper and pencil that hits more consistent than many of the programs that many players use. I shared one of my systems with an LP player after I hit the Pick 4 everyday for about a week and after sharing the system it no longer works anymore. So I created two new systems that work very well. Thus, I agree with your statement with the exception that the lottery regardless of the game, just like Vegas, takes in billions more than the few hundred thousand they dish out.

      CP1

        helpmewin's avatar - dandy
        u$a
        United States
        Member #106665
        February 22, 2011
        19752 Posts
        Offline
        Posted: May 24, 2013, 11:15 pm - IP Logged

        I'd like to focus on only the first two sentences here. What you say is actually true but, there are also  reasons behind it all as well. The main reasons, in my humble opinion, are failure to implement and stick to a proper systematic approach, and, greed. Money can, in fact, be made playing the small games as long the player is very well disciplined in conjunction with a system.

         

        L.L.

        Hey LL, long time no see Good to see you.See Ya!

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
          United States
          Member #73904
          April 28, 2009
          14903 Posts
          Offline
          Posted: May 24, 2013, 11:46 pm - IP Logged

          Hey LL, long time no see Good to see you.See Ya!

          He went to Sweden to have some surgery done.

          And now she's back.

            Win$500Quick's avatar - Lottery-050.jpg
            Florida
            United States
            Member #77815
            August 1, 2009
            3459 Posts
            Offline
            Posted: May 26, 2013, 8:02 am - IP Logged

            It's a known fact that the lottery is just like Vegas where it's set up for the House to always win regardless of the payout. It's also true that most of us lose more than we win irrespective if we play online in multiple states or in stores. The final fact is that most State sponsored lottery games beit Pick 3, Pick 4, Cash 5, Scratch-Offs, Mega Millions, & Powerball are set up as Non-Profit Organizations.

            Here's what they don't want you to know. You can claim up to 28% of your gross income from your career, 9 to 5 jobs, and earnings from the lottery as charitable contributions b/c the lotteries are set up as non-profits.

            Thus, you can save all your tickets throughout the year and write them off on your taxes. Most stores will give you the losing tickets for free. Some lottery players are setting up websites where people can send their losing tickets for novice items.

            Finally, if I won the Mega Millions or the Powerball, I would take the lump sum payment, pay off all my debt, and set up a small foundation(non-profit) where I put most of my money into that would be both Federal and State exempt from taxes (ie Bill & Melinda Gates Foundation). This is hoe the super rich keep from paying taxes on their millions & billions. The investment strategy of the week that Fidelity and Vanguard can not beat on the return is the following: Go to Fidelity and Vanguard and set up an all-in-one investment fund. Put 60% of your investment in the Total Bond Market, 22% in the 500 Index Fun(basically most you a small minority owner in the Top 500 Business in America), and 18% in the Total International Market. No investment broker in the country can top this strategy no matter what they tell.

            FIN

            I Agree! I already have the Vanguard's Total Stock Market, Total Bond Market and Total International Market. Do it yourself investing is the way to go.

            Guess Who's Back?

              Lucky Loser's avatar - bucks
              Texas
              United States
              Member #86154
              January 30, 2010
              1648 Posts
              Offline
              Posted: May 26, 2013, 9:56 am - IP Logged

              Hey LL, long time no see Good to see you.See Ya!

              Hey you!! It's so good to see you again as well!!Smile Yeah, I've been away on some contract work, but I'll be hangin' out here as usual now. Last I remember, you had posted a couple of nice wins...and then I joined  you.Wink Sure hope you're still winning, and, even more regularly!! 

              You know, somewhere within the past topics, I've clearly said and described how a player must treat the smaller (Pick3/Pick4) games as a real business. That is, if they're going to be successful financially. 

               

              L.L.

              Small games, frequent wins, and regular payouts 'cause.....

              There are seven days in the week...'Someday' isn't one of them.

              #lotto-4-a-living

                Lucky Loser's avatar - bucks
                Texas
                United States
                Member #86154
                January 30, 2010
                1648 Posts
                Offline
                Posted: May 26, 2013, 10:22 am - IP Logged

                I agree. I make a lot of money several times a week on the Pick 4 Lottery in N.C. I have noticed that when I get greedy and try to double down a a set of numbers there is always a "Flip", "Mirror", or 1up and 1down scenario that keeps me from winning. I have my own strategy that I have created on paper and pencil that hits more consistent than many of the programs that many players use. I shared one of my systems with an LP player after I hit the Pick 4 everyday for about a week and after sharing the system it no longer works anymore. So I created two new systems that work very well. Thus, I agree with your statement with the exception that the lottery regardless of the game, just like Vegas, takes in billions more than the few hundred thousand they dish out.

                CP1

                Hmmm. Well, what you're describing here with the "Flip" and "Mirror" terminology doesn't quite register with me. However, I'm quite familiar with the 1up and 1down deal. These are simple everyday occurrences in the game which must be accounted for if you're going to be consistent and win. 

                Now, I'm a bit confused on this idea concerning the system you shared and how it began to lose. Numbers don't care and don't discriminate on who's using them...it's the application of the numbers on the said condition of the draw(s) which discriminates. I'd be willing to bet that the same system(numbers) you put away still wins, buddy. Just gotta know when to apply it.

                As far as the billions taken in by any state or online entity, that's a very good thing. It simply ensures that they'll always have plenty enough to take care of those within that few hundred thousand payout. Your job is to make sure you're in it...I do.

                 

                L.L.

                Small games, frequent wins, and regular payouts 'cause.....

                There are seven days in the week...'Someday' isn't one of them.

                #lotto-4-a-living


                  United States
                  Member #116268
                  September 7, 2011
                  20244 Posts
                  Offline
                  Posted: May 26, 2013, 2:01 pm - IP Logged

                  I Agree! I already have the Vanguard's Total Stock Market, Total Bond Market and Total International Market. Do it yourself investing is the way to go.

                  I Agree! But dont tell the golf club lady...... She will beat you with her golf club.


                    United States
                    Member #116268
                    September 7, 2011
                    20244 Posts
                    Offline
                    Posted: May 26, 2013, 2:04 pm - IP Logged

                    I agree. I make a lot of money several times a week on the Pick 4 Lottery in N.C. I have noticed that when I get greedy and try to double down a a set of numbers there is always a "Flip", "Mirror", or 1up and 1down scenario that keeps me from winning. I have my own strategy that I have created on paper and pencil that hits more consistent than many of the programs that many players use. I shared one of my systems with an LP player after I hit the Pick 4 everyday for about a week and after sharing the system it no longer works anymore. So I created two new systems that work very well. Thus, I agree with your statement with the exception that the lottery regardless of the game, just like Vegas, takes in billions more than the few hundred thousand they dish out.

                    CP1

                    Consider PM'ing your system to someone who can then vouch for it after winning a few.


                      United States
                      Member #116268
                      September 7, 2011
                      20244 Posts
                      Offline
                      Posted: May 26, 2013, 2:05 pm - IP Logged

                      Hey LL, long time no see Good to see you.See Ya!

                      LL is a money making machine. Perhaps he would consider PMing his system as well?

                        rdgrnr's avatar - walt
                        Way back up in them dadgum hills, son!
                        United States
                        Member #73904
                        April 28, 2009
                        14903 Posts
                        Offline
                        Posted: May 26, 2013, 3:44 pm - IP Logged

                        LL is a money making machine. Perhaps he would consider PMing his system as well?

                        Yeah, he's the best.

                        Just ask him.

                          Lucky Loser's avatar - bucks
                          Texas
                          United States
                          Member #86154
                          January 30, 2010
                          1648 Posts
                          Offline
                          Posted: May 26, 2013, 4:07 pm - IP Logged

                          LL is a money making machine. Perhaps he would consider PMing his system as well?

                          Ronnie, hey there dude! Hope you've been okay during my lapse here. I was looking for your famous "Do Some Combinations Have Better Odds Than Others?" thread but, I guess it closed a while back. There was some really good information and comparisons for the large games contained in that topic...I enjoyed it.Yes Nod 

                          Can't take any credit for being quite the money-making machine, although, I've been crunching numbers on the little games for a very, very long time. Most of this time was spent thinking I had all it figured out because I got lucky here and there...no real math or science involved. I've matured tremendously over the years regarding Pick3/Pick4 and understand full well what it really means to properly implement a dedicated system while also turning a profit. It costs reasonable money to play the way I do, but it works...FOR ME.

                          I've never claimed to be the best, or, even oh so good. I simply feel that maybe, just maybe I understand the combination of things that need to be done to be successful. That's all. What works for me probably won't work for others due to cost and impatience. Finally, a system is comprised of much, much more than just numbers. Nice to hear from you, Ronnie!!

                           

                          L.L.

                          Small games, frequent wins, and regular payouts 'cause.....

                          There are seven days in the week...'Someday' isn't one of them.

                          #lotto-4-a-living

                            Lucky Loser's avatar - bucks
                            Texas
                            United States
                            Member #86154
                            January 30, 2010
                            1648 Posts
                            Offline
                            Posted: May 26, 2013, 4:21 pm - IP Logged

                            Yeah, he's the best.

                            Just ask him.

                            rdgrnr, how's it going on your end? Now, you know I missed you!! Well, I have an update for you as well but we'll have to chat elsewhere as this topic is about making money with lotto. Good to see you're still raisin' hell!!

                             

                            L.L.

                            Small games, frequent wins, and regular payouts 'cause.....

                            There are seven days in the week...'Someday' isn't one of them.

                            #lotto-4-a-living

                              Coin Toss's avatar - shape barbed.jpg
                              Zeta Reticuli Star System
                              United States
                              Member #30470
                              January 17, 2006
                              10345 Posts
                              Offline
                              Posted: May 26, 2013, 6:42 pm - IP Logged

                              Clubpulse1,

                              "The final fact is that most State sponsored lottery games beit Pick 3, Pick 4, Cash 5, Scratch-Offs, Mega Millions, & Powerball are set up as Non-Profit Organizations."

                              If lotteries are set up as non-profit organizations then how come these companies that buy lotteries from the state and run them for them tell them how much more money they will make for them?

                              Not sure you're right about this, but so far it sounds like "Philadelphia lawyer" type information to me.

                              The tax laws on gambling are that you can write off your losses up to your winnings, trying to wrote them all off on say-so is tax evasion.

                              If you won $2100 on the year and lost $3500, you can write off $2100 of it, if you can prove it.

                              The difference between tax evasion and tax abvoidance? 

                              10 to 15 years!

                              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.