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Megamillions and Powerball Games

Topic closed. 205 replies. Last post 3 years ago by SergeM.

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Which Play is the Best Bet?

Powerball [ 9 ]  [24.32%]
Powerball with Powerplay [ 4 ]  [10.81%]
Megamillions [ 12 ]  [32.43%]
Megamillions with Megaplier [ 12 ]  [32.43%]
Total Valid Votes [ 37 ]  
Discarded Votes [ 7 ]  
RL-RANDOMLOGIC's avatar - usafce

United States
Member #59354
March 13, 2008
3972 Posts
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Posted: April 17, 2014, 11:21 am - IP Logged

Jon D

I agree 100%, derivatives are just a means to deprive people of their hard earned money

by blowing a bunch of smoke up our a double s.

RL

Working on my Ph.D.  "University of hard Knocks"

I will consider the opinion that my winnings are a product of chance if you are willing to consider

they are not.  Many great discoveries come while searching for something else

USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

  US Flag Trump / 2016 & 2020  

    RL-RANDOMLOGIC's avatar - usafce

    United States
    Member #59354
    March 13, 2008
    3972 Posts
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    Posted: April 17, 2014, 11:25 am - IP Logged

    Jon D

    I agree 100%, derivatives are just a means to deprive people of their hard earned money

    by blowing a bunch of smoke up our a double s.

    RL

    THRIFTY

    If out taxes were spent wisely then we would not be in the place we are now.  Years ago they

    paid things like social security then spent the rest.  Today they borrow the money to pay social

    security and then borrow more for the other things.

    Working on my Ph.D.  "University of hard Knocks"

    I will consider the opinion that my winnings are a product of chance if you are willing to consider

    they are not.  Many great discoveries come while searching for something else

    USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

      US Flag Trump / 2016 & 2020  

      Jon D's avatar - calotterylogo
      Los Angeles, California
      United States
      Member #103813
      January 5, 2011
      1530 Posts
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      Posted: April 17, 2014, 11:25 am - IP Logged

      Jon D

      I agree 100%, derivatives are just a means to deprive people of their hard earned money

      by blowing a bunch of smoke up our a double s.

      RL

      Yep. People complain about lottery and casinos and how gambling ruins lives.

      Well, how about the worst gambling in the world, to the tune of trillions of dollars, in the rigged insider derivatives market played by rich fat cats. The impact of their irresponsible behavior ruins lives, societies and entire countries.

        RL-RANDOMLOGIC's avatar - usafce

        United States
        Member #59354
        March 13, 2008
        3972 Posts
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        Posted: April 17, 2014, 11:29 am - IP Logged

        Jon D

        I know what you mean, I spend around $500 a year on the lottery and that includes personal play

        and the pool I am part of.  I catch a lot of crap for my bad ways.  Hmmmm, I guess I could pay more

        taxes, maybe that would help.

        RL

        Working on my Ph.D.  "University of hard Knocks"

        I will consider the opinion that my winnings are a product of chance if you are willing to consider

        they are not.  Many great discoveries come while searching for something else

        USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

          US Flag Trump / 2016 & 2020  

          Avatar
          NEW YORK
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          Member #90535
          April 29, 2010
          11982 Posts
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          Posted: April 17, 2014, 11:35 am - IP Logged

          Yep. People complain about lottery and casinos and how gambling ruins lives.

          Well, how about the worst gambling in the world, to the tune of trillions of dollars, in the rigged insider derivatives market played by rich fat cats. The impact of their irresponsible behavior ruins lives, societies and entire countries.

          I am a risk averse investor. I do not day trade or time the markets. I see a flat tax coming soon.

          US Flag

          PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

            Avatar
            NEW YORK
            United States
            Member #90535
            April 29, 2010
            11982 Posts
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            Posted: April 17, 2014, 11:39 am - IP Logged

            Jon D

            I know what you mean, I spend around $500 a year on the lottery and that includes personal play

            and the pool I am part of.  I catch a lot of crap for my bad ways.  Hmmmm, I guess I could pay more

            taxes, maybe that would help.

            RL

            HOW TO LIVE LONGER.

            "If you want to Live longer, play Lotto. Lottery improves Health in many ways. It keeps the Mind thinking and the Heart beating. It's a cheap way to help cure Alzheimer and Heart Disease. Thats what i tell the non-believers." By Redstang

            US Flag

            PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

              RL-RANDOMLOGIC's avatar - usafce

              United States
              Member #59354
              March 13, 2008
              3972 Posts
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              Posted: April 17, 2014, 11:45 am - IP Logged

              Here's my take on taxes.  First I need a job so that I can feed myself. A job requires having a car so I go buy

              a car.  I pay taxes on that car, next I need both a drivers license and licenses on the car both are taxed, before

              I can get a licenses I have to get the car inspected and taxed again.  Now to get to work I have to pay taxes

              on the gas for the car.  I get to work and on payday they take their share before I see a penny.  I walk out to the

              car and the battery is dead so I call a tow-truck to jump my car, taxed again.  I drive to the auto parts store and buy

              another battery, you guessed it, taxed again.  I stop at the store on the way home and buy something to eat and

              taxed again.  I get home and the phone is ringing so I answer it, taxed again.  It's dark in the house so I turn on

              a light and get taxed again.  My home is taxed I paid tax on the chair I am setting in.  I turn on the TV, taxed again

              and CNN has a special guest who is talking about spending millions on a study about some fish that lives on the

              bottom of the ocean that  swims upside down.   It's tax time and after filling out all the forms I find that uncle sam

              wants a couple thousand more.  I feel like a hamster on a wheel so I think maybe I would be better off dead, Nope

              they tax you for that also. 

              The worst of it all is that all the money the government has borrowed has to be paid back, if not by me than my

              children, and their children and their children and their children etc.......................................................................

              RL

              Working on my Ph.D.  "University of hard Knocks"

              I will consider the opinion that my winnings are a product of chance if you are willing to consider

              they are not.  Many great discoveries come while searching for something else

              USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

                US Flag Trump / 2016 & 2020  

                Avatar
                NEW YORK
                United States
                Member #90535
                April 29, 2010
                11982 Posts
                Offline
                Posted: April 17, 2014, 12:00 pm - IP Logged

                Here's my take on taxes.  First I need a job so that I can feed myself. A job requires having a car so I go buy

                a car.  I pay taxes on that car, next I need both a drivers license and licenses on the car both are taxed, before

                I can get a licenses I have to get the car inspected and taxed again.  Now to get to work I have to pay taxes

                on the gas for the car.  I get to work and on payday they take their share before I see a penny.  I walk out to the

                car and the battery is dead so I call a tow-truck to jump my car, taxed again.  I drive to the auto parts store and buy

                another battery, you guessed it, taxed again.  I stop at the store on the way home and buy something to eat and

                taxed again.  I get home and the phone is ringing so I answer it, taxed again.  It's dark in the house so I turn on

                a light and get taxed again.  My home is taxed I paid tax on the chair I am setting in.  I turn on the TV, taxed again

                and CNN has a special guest who is talking about spending millions on a study about some fish that lives on the

                bottom of the ocean that  swims upside down.   It's tax time and after filling out all the forms I find that uncle sam

                wants a couple thousand more.  I feel like a hamster on a wheel so I think maybe I would be better off dead, Nope

                they tax you for that also. 

                The worst of it all is that all the money the government has borrowed has to be paid back, if not by me than my

                children, and their children and their children and their children etc.......................................................................

                RL

                "Render unto Caesar the things that are Caesar's, and unto God the things that are God's." 

                US Flag

                PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                  RL-RANDOMLOGIC's avatar - usafce

                  United States
                  Member #59354
                  March 13, 2008
                  3972 Posts
                  Offline
                  Posted: April 17, 2014, 12:13 pm - IP Logged

                  "Render unto Caesar the things that are Caesar's, and unto God the things that are God's." 

                  What if after taxes there is nothing left.  These bas-turds are even robbing GOD.  Hey, the thought

                  just came to me.  jimbo thinks I am destroying america by suggesting they play digits, if this is true

                  then he should be thankful I am creating extra income for the government. 

                  RL

                  Working on my Ph.D.  "University of hard Knocks"

                  I will consider the opinion that my winnings are a product of chance if you are willing to consider

                  they are not.  Many great discoveries come while searching for something else

                  USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

                    US Flag Trump / 2016 & 2020  

                    Avatar
                    NEW YORK
                    United States
                    Member #90535
                    April 29, 2010
                    11982 Posts
                    Offline
                    Posted: April 17, 2014, 4:22 pm - IP Logged

                    THRIFTY

                    If out taxes were spent wisely then we would not be in the place we are now.  Years ago they

                    paid things like social security then spent the rest.  Today they borrow the money to pay social

                    security and then borrow more for the other things.

                    I see a USA economy based on a flat tax coming soon.We are going to experience a great prosperity.

                    US Flag

                    PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                      Avatar
                      NEW YORK
                      United States
                      Member #90535
                      April 29, 2010
                      11982 Posts
                      Offline
                      Posted: April 17, 2014, 4:30 pm - IP Logged

                      What if after taxes there is nothing left.  These bas-turds are even robbing GOD.  Hey, the thought

                      just came to me.  jimbo thinks I am destroying america by suggesting they play digits, if this is true

                      then he should be thankful I am creating extra income for the government. 

                      RL

                      I feel that people play the lottery, because it is fun to dream even though the chances of winning are slim.

                      US Flag

                      PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                        Jon D's avatar - calotterylogo
                        Los Angeles, California
                        United States
                        Member #103813
                        January 5, 2011
                        1530 Posts
                        Offline
                        Posted: April 17, 2014, 7:25 pm - IP Logged

                        I am a risk averse investor. I do not day trade or time the markets. I see a flat tax coming soon.

                        Day trading is old school. Several trades day? Ha.

                        Now the hot thing is High Frequency Trading, thousands of trades per second. Insider trading 2.0 by the new Flash Boys.

                          LottoMetro's avatar - Lottery-024.jpg
                          Happyland
                          United States
                          Member #146344
                          September 1, 2013
                          1129 Posts
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                          Posted: April 17, 2014, 7:54 pm - IP Logged

                          Jon D

                          I agree 100%, derivatives are just a means to deprive people of their hard earned money

                          by blowing a bunch of smoke up our a double s.

                          RL

                          Derivatives are basically insurance. They are contracts with counterparties, not the general public. Having insurance on your car or house is the same as having a derivative. If the counterparty can't pay the obligation on the contract, they default and ultimately, that's when the public gets screwed. So it's the counterparty's fault, not the instrument's. That's like blaming the toilet for overflowing when you're the one who clogged it up. Anyway, derivatives can be very useful, even for the little guy, but as with anything- too much of a good thing can end up being a bad thing. Overleveraging, understimating risk, etc.

                          HFT is not necessarily "bad" in general because it provides liquidity to the market, which actually lowers investor costs. It gets sensationalized a lot but it's pretty much standard. If you're buying for the long run it doesn't really matter. I do think changes need to be made though; in particular, the ability to post fake orders (yes, it's legal). That makes the market more inefficient.

                          Flat tax, fair tax, they are called different things, but it is not coming, because it simply won't work. The income under the current progressive system exceeds that which would come from a flat tax by trilions. A national sales tax would be closer to something workable (since you can't really evade taxes on purchases) but still vaguely useful at most. There are economists who sit around all day and do nothing but think of ideas for improving tax revenues.

                          Not sure how this thread got derailed to taxes and finance, but anyway. Nice change of pace from the usual RL vs. Jimmy Wink

                          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?

                          2016: -48.28% (13 tickets) ||
                          P&L % = Total Win($)/Total Wager($) - 1

                            Jon D's avatar - calotterylogo
                            Los Angeles, California
                            United States
                            Member #103813
                            January 5, 2011
                            1530 Posts
                            Offline
                            Posted: April 17, 2014, 8:55 pm - IP Logged

                            Derivatives are basically insurance. They are contracts with counterparties, not the general public. Having insurance on your car or house is the same as having a derivative. If the counterparty can't pay the obligation on the contract, they default and ultimately, that's when the public gets screwed. So it's the counterparty's fault, not the instrument's. That's like blaming the toilet for overflowing when you're the one who clogged it up. Anyway, derivatives can be very useful, even for the little guy, but as with anything- too much of a good thing can end up being a bad thing. Overleveraging, understimating risk, etc.

                            HFT is not necessarily "bad" in general because it provides liquidity to the market, which actually lowers investor costs. It gets sensationalized a lot but it's pretty much standard. If you're buying for the long run it doesn't really matter. I do think changes need to be made though; in particular, the ability to post fake orders (yes, it's legal). That makes the market more inefficient.

                            Flat tax, fair tax, they are called different things, but it is not coming, because it simply won't work. The income under the current progressive system exceeds that which would come from a flat tax by trilions. A national sales tax would be closer to something workable (since you can't really evade taxes on purchases) but still vaguely useful at most. There are economists who sit around all day and do nothing but think of ideas for improving tax revenues.

                            Not sure how this thread got derailed to taxes and finance, but anyway. Nice change of pace from the usual RL vs. Jimmy Wink

                            Is this the fruits of your Ivy league business and economics education LottoMetro? LOL

                            As far as thread derailment, if the OP takes the thread off topic, then it's fair game after that.

                              mediabrat's avatar - 18z0typ
                              upstate NY
                              United States
                              Member #108791
                              March 31, 2011
                              549 Posts
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                              Posted: April 17, 2014, 11:37 pm - IP Logged

                              Lottery players are being blamed for the high unemployment rate that the USA is facing. Lottery players are lazy people who do not like to work for a living. So they say.

                              No one has ever blamed lottery players for the unemployment rate.  As usual, you have no idea what you're talking about.

                                 
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