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Does joining a lottery pool " increase" your chances of winning the top prize?

Topic closed. 13 replies. Last post 2 years ago by Tialuvslotto.

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noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
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Posted: July 21, 2014, 11:03 pm - IP Logged

I think not.. here is why, l  have read of folks who have been in lottery pools for ages who have not won anything substantial-when was the last time you saw a bunch of them standing on the podium, telling the press what they plan to do with their newfound wealth? It would seem going solo is it: At least if you losing by buying more tickets all by your lonesome, you don't have to put up with the complaints from the others in the pool.

* Continue to have a Great week People..

    LottoMetro's avatar - Lottery-024.jpg
    Happyland
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    Posted: July 21, 2014, 11:57 pm - IP Logged

    More tickets = more chances

    If you would otherwise play just 1 ticket, but the pool plays even 2, then yes it increases your chances. It's kinda like investing in a fund with other investors....you might make more on your own but you also take all the risk. A group can spread it around

    The fact there are few pools who win should tell you just how awful the odds are either way you play.

    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

      Coin Toss's avatar - shape barbed.jpg
      Zeta Reticuli Star System
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      Posted: July 22, 2014, 12:49 am - IP Logged

      While more tickets equals more chances is true, depending on the size of the pool a jackpot will be split more ways.

      Also, there's been plenty of threads in News about a pool hitting a jackpot and not getting paid for a long time afterwards because of legal hassles such as someone claiming they should have been included and weren't.

      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.

        noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
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        Posted: July 22, 2014, 1:04 am - IP Logged

        While more tickets equals more chances is true, depending on the size of the pool a jackpot will be split more ways.

        Also, there's been plenty of threads in News about a pool hitting a jackpot and not getting paid for a long time afterwards because of legal hassles such as someone claiming they should have been included and weren't.

        Coin Toss- l base my post on the fact that if you looked at the most recent  winners, almost all have been solo winners, the last pool winners l can think of we're those from back East * NJ l think, you recall the self appointed " spokesman" who looked like a close cousin of the Duck Dynasty.

        Pedro needed no lottery pool, neither did  Gloria and they did pretty well by all accounts.

          Coin Toss's avatar - shape barbed.jpg
          Zeta Reticuli Star System
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          Posted: July 22, 2014, 1:06 am - IP Logged

          Agreed, solo is the way to go.

          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.

            noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
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            Posted: July 22, 2014, 1:10 am - IP Logged

            More tickets = more chances

            If you would otherwise play just 1 ticket, but the pool plays even 2, then yes it increases your chances. It's kinda like investing in a fund with other investors....you might make more on your own but you also take all the risk. A group can spread it around

            The fact there are few pools who win should tell you just how awful the odds are either way you play.

            When you mentioned " Investing in a fund with other investors"- l immediately thought of Bernie Madoff.

            Point taken nonetheless.

              RedStang's avatar - tallman zps6gf4inoc.jpg
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              Posted: July 22, 2014, 1:21 am - IP Logged

              Our pool is hopeless. We even had everyone bring in a ticket and still got skunked.

                noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
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                Posted: July 22, 2014, 1:35 am - IP Logged

                Our pool is hopeless. We even had everyone bring in a ticket and still got skunked.

                Big Smile

                  Tialuvslotto's avatar - Jailin
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                  Posted: July 22, 2014, 7:58 am - IP Logged

                  Our pool is hopeless. We even had everyone bring in a ticket and still got skunked.

                  Every pool is hopeless.  Playing the lottery is hopeless.

                  But hope triumphs over logic every time, and once in a very looooooong while it pays off.

                  May the luck fairy visit your pool next draw!

                  Blue Angel

                  "There is no such thing as luck; only adequate or inadequate preparation to cope with a statistical universe."

                  ~Robert A. Heinlein

                    BigDMike's avatar - Money 20City_zpsfnsebmis.jpg

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                    Posted: July 22, 2014, 8:51 am - IP Logged

                    More tickets equals more chances.  It doesn't equal BETTER chances...does it?  The odds don't change, so in my opinion lotto pools are for those that just want to share the jackpot for a smaller investment and payout.  I'd rather cash in alone, and buy my co-workers lunch.  If they want to "pool" anything, let's pool those pay checks with the executives. 

                    Now if THEY win, then all of this is null/void.  My lunch would be my foot, and theirs would be 5 star.  So what the heck do you do?!

                      noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
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                      Posted: July 22, 2014, 10:10 am - IP Logged

                      Every pool is hopeless.  Playing the lottery is hopeless.

                      But hope triumphs over logic every time, and once in a very looooooong while it pays off.

                      May the luck fairy visit your pool next draw!

                      Blue Angel

                      I Agree!

                      I guess the point point l am trying to make Tia is that when l look back on the list of " recent" lottery winners, lottery pools are not in clear sight.

                      for instance the $425 mil winner from  Fremont- One winner.

                      Prior to that, the Asian $400mil winner back in December  from San Jose- One winner.

                      $200 mil plus winner from Ohio, * I think-Brother Roy- One winner.

                      $200 mil winner last year  from Fresno- One winner.

                      Clearly- Solo winners outpace lottery pools....at this point.

                        LottoMetro's avatar - Lottery-024.jpg
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                        Posted: July 22, 2014, 11:15 am - IP Logged

                        I Agree!

                        I guess the point point l am trying to make Tia is that when l look back on the list of " recent" lottery winners, lottery pools are not in clear sight.

                        for instance the $425 mil winner from  Fremont- One winner.

                        Prior to that, the Asian $400mil winner back in December  from San Jose- One winner.

                        $200 mil plus winner from Ohio, * I think-Brother Roy- One winner.

                        $200 mil winner last year  from Fresno- One winner.

                        Clearly- Solo winners outpace lottery pools....at this point.

                        More individuals win because more individuals play.

                        I personally don't participate in a pool but it would be great for wheeling. It's irrelevant that you share the prize because the return to player over time is exactly the same, i.e. winning $200,000 for putting 1 ticket in the pool instead of $1,000,000 for playing 5 tickets alone. It's like playing in a raffle.

                        If you want to rely purely on luck like I do then how you play doesn't matter.....only that you play Big Grin

                        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

                          RJOh's avatar - chipmunk
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                          Posted: July 22, 2014, 11:15 am - IP Logged

                          I Agree!

                          I guess the point point l am trying to make Tia is that when l look back on the list of " recent" lottery winners, lottery pools are not in clear sight.

                          for instance the $425 mil winner from  Fremont- One winner.

                          Prior to that, the Asian $400mil winner back in December  from San Jose- One winner.

                          $200 mil plus winner from Ohio, * I think-Brother Roy- One winner.

                          $200 mil winner last year  from Fresno- One winner.

                          Clearly- Solo winners outpace lottery pools....at this point.

                          There are many strategies for winning lotteries, the fact that most large jackpot winners are individuals who brought some quick picks doesn't mean that it's the best strategy for everyone.  I prefer to play alone but I also like to use a system I developed to pick the combinations I play.

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

                            Tialuvslotto's avatar - Jailin
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                            Posted: July 22, 2014, 12:01 pm - IP Logged

                            I Agree!

                            I guess the point point l am trying to make Tia is that when l look back on the list of " recent" lottery winners, lottery pools are not in clear sight.

                            for instance the $425 mil winner from  Fremont- One winner.

                            Prior to that, the Asian $400mil winner back in December  from San Jose- One winner.

                            $200 mil plus winner from Ohio, * I think-Brother Roy- One winner.

                            $200 mil winner last year  from Fresno- One winner.

                            Clearly- Solo winners outpace lottery pools....at this point.

                            I would guess that many more tickets are sold to individuals than to pool groups, since 1 ticket = 1 chance to win.

                            I agree, you hear mostly about the individual winners and only occasionally a group win.  And when a group does win, even a big JP, the amount each member takes home is often (relatively) small.

                            "There is no such thing as luck; only adequate or inadequate preparation to cope with a statistical universe."

                            ~Robert A. Heinlein