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Scratch-Off Tickets bought by the pack/roll

Topic closed. 32 replies. Last post 3 years ago by tjbrnsgr.

Page 3 of 3
United States
Member #93582
July 3, 2010
1924 Posts
Posted: July 1, 2014, 3:06 pm - IP Logged

Wow sorry to hear that. Looks a bit similar to the Lucky X20 $5 roll I got this year in PA, though that somehow managed to get 50%  back. The loser zones make me afraid to buy in bulk anymore.

I enjoy playing rolls but make it a once or twice a year at most thing. Some years may not be able to get one. Still have not profited from a roll after 4 of them.

    LottoMetro's avatar - Lottery-024.jpg
    United States
    Member #146344
    September 1, 2013
    1137 Posts
    Posted: July 1, 2014, 3:21 pm - IP Logged

    My thoughts on buying by the roll:

    It reduces variance. If the game were a profitable one, then reduced variance is exactly what you want.

    Unfortunately, lottery games are far from profitable. So higher variance is really the only thing that can help you "profit."

    Over the long run, it doesn't matter much whether you buy 1 ticket 100 times or a roll of 100 tickets because the expected values will converge. You will just reach the expected value faster by buying the roll. The benefit of buying 1 at a time is that you could win and stop, whereas with a whole roll you have to stick with it from start to finish, wins and losses. You guarantee wins (in states where applicable), but you also guarantee losses. On the other hand, with one at a time you have no guarantees. You could lose 100 times, or hit a million on the second ticket. This method is really only useful if you never plan to buy another ticket though, because the stop/start strategy is actually a fallacy (common in casinos, where people play until they're "up" then leave and come back the next day).

    Personally, I buy in bulk but have not ventured towards entire rolls. I buy in bulk because of probability. On a single roll, the more tickets you buy the higher chance of a win, again applicable to states that mandate minimum winners. Same reason it is better to buy 10 tickets for 1 draw instead of 1 ticket for 10 draws (not talking EV here, but probability of winning).

    If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
    If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

    2017: 0% (0 tickets)
    P&L % = Total Win($)/Total Wager($) - 1

      New Member
      NC/United States
      United States
      Member #156729
      June 27, 2014
      1 Posts
      Posted: July 15, 2014, 6:09 pm - IP Logged

      I just purchased a pack $300 of the new $2500 for life and took a $275 loss don't waste your money.