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Investing $5 In The Stock Market Versus Spending $5 In The Lottery

Stock Market

[ 19 ]

[ 61.3% ]

Lottery

[ 12 ]

[ 38.7% ]

Total valid votes

[ 31 ]

Discarded votes

[ 6 ]

THRIFTY

NEW YORK
United States
Member #90,529
April 29, 2010
13,411 Posts
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Nov 3, 2024, 11:09 am

Quote: Originally posted by Justing618 on Oct 31, 2024
I mean it's 2 extra bucks a ticket. I'm not really for it. But it's 4 extra bucks a week for 2 draws. Ten bucks a week. This is more concerning to me as this was last night's number. 16 22 26 36 56 01. Four numbers ending in 6. What's the odds there?

Greed will make people forget the bad deal that Mega Millions would offer for $5 per line.
THRIFTY

NEW YORK
United States
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April 29, 2010
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Nov 3, 2024, 12:01 pm

Quote: Originally posted by Justing618 on Oct 22, 2024
Most I ever won was 2k on some boxed pick 4 tickets. 500 a couple times on scratchers. I stopped buying scratchers. And stopped playing pick 4 when they went computerized. I just play mm and pb now. I refuse to buy a computer draw game ticket. Play the same numbers every draw for pb and mm. Good luck though! And thanks for replying!

Computerized lottery drawn games is the future. People would still play computer drawn lottery games. Lottery players are trying to beat time and become rich by playing lottery games with ridiculous odds of winning.
Justing618

Baltimore
United States
Member #221,592
March 26, 2022
999 Posts
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Nov 4, 2024, 1:31 am

Quote: Originally posted by THRIFTY on Nov 3, 2024
Computerized lottery drawn games is the future. People would still play computer drawn lottery games. Lottery players are trying to beat time and become rich by playing lottery games with ridiculous odds of winning.

I'll pass on the computer games. Edward Tippton proved my theory with them. Awfully weird. Seems to be alot less winners with pick games now. Just my opinion though.
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,528 Posts
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Nov 4, 2024, 10:06 am

Quote: Originally posted by THRIFTY on Oct 26, 2024
The lottery is rigged. You win the lottery by not playing it. I feel that Todd created Lottery Post to help lottery players make smart decisions about playing the lottery and bring fairness to lottery games, hence Todd isn't a fan of Computer drawn lottery games. The lottery shouldn't take 50% of every dollar spent from a mathematical perspective.

"Look, the lottery company operates on a 50% payback rate. In other words, for every $100,000 they collect from ticket sales, they only pay out about $50,000 to winning tickets. At a 50% payback rate, no other standard bet on the planet comes even close to being as bad as buying lottery tickets. The lottery is a TAX on the poor and on the ignorant.

You asked what's the most I've won. Why? What would that tell you? I hit $2,500 from the Pick 3 lottery once. So what??? Seriously - knowing I won that means nothing without knowing about the THOUSANDS and THOUSANDS I poured down the drain chasing that win.

You are interested in the wrong thing. Do a little research into the probability and payout tables for your own lottery. If you look carefully, you will see for yourself that I am right about that 50% payback rate. You might as well light a match to half your money."

"Look, the lottery company operates on a 50% payback rate."

Pick 3 and 4 players usually share the 50%, but MM and PB jackpot payoffs get most of that 50%. And don't get me started on the percentage, Federal, State, and Municipalities take off the top.

Back in the day it was "a dollar for a dream", but now it's 10 bucks a week to find out we probably didn't even match one number.

"Some people have something to say while other people feel the need to say something"
THRIFTY

NEW YORK
United States
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April 29, 2010
13,411 Posts
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Nov 11, 2024, 10:20 am

Quote: Originally posted by Stack47 on Nov 4, 2024
"Look, the lottery company operates on a 50% payback rate."

Pick 3 and 4 players usually share the 50%, but MM and PB jackpot payoffs get most of that 50%. And don't get me started on the percentage, Federal, State, and Municipalities take off the top.

Back in the day it was "a dollar for a dream", but now it's 10 bucks a week to find out we probably didn't even match one number.

Bitcoin is trading at $83,000 today. It has been a better investment than playing the lottery. I do not own any Bitcoin. I see many publicly traded companies using Bitcoin as a treasury reserve to protect their cash holdings against inflation, instead of government savings bonds, gold or silver. It might become a worldwide currency in the future though.
THRIFTY

NEW YORK
United States
Member #90,529
April 29, 2010
13,411 Posts
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Nov 11, 2024, 11:00 am

1111
Wavepack

us
Member #226,805
November 8, 2022
1,741 Posts
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Nov 11, 2024, 1:41 pm

Quote: Originally posted by THRIFTY on Nov 11, 2024
Bitcoin is trading at $83,000 today. It has been a better investment than playing the lottery. I do not own any Bitcoin. I see many publicly traded companies using Bitcoin as a treasury reserve to protect their cash holdings against inflation, instead of government savings bonds, gold or silver. It might become a worldwide currency in the future though.

When bitcoin ETFs became available finally (earlier this year), I moved 3/5 of retirement savings into bitcoin. It doubled in less than a year. It was in a Roth IRA, so no extra tax on the gain. Moved $600 into bitcoin at Paypal about 3/2 year ago. That tripled, but the gain is taxed when the bitcoin is sold (in the US)

I like your the lootery word play. 50% rake of State-run looteries is terrible for the lottery players, but good for greedy States.
Artist77

United States
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January 16, 2012
10,899 Posts
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Nov 11, 2024, 6:30 pm

Quote: Originally posted by Wavepack on Nov 11, 2024
When bitcoin ETFs became available finally (earlier this year), I moved 3/5 of retirement savings into bitcoin. It doubled in less than a year. It was in a Roth IRA, so no extra tax on the gain. Moved $600 into bitcoin at Paypal about 3/2 year ago. That tripled, but the gain is taxed when the bitcoin is sold (in the US)

I like your the lootery word play. 50% rake of State-run looteries is terrible for the lottery players, but good for greedy States.

Noooo....lol. I can see 10 % in crypto but that is way too much..go for s&p 500 in roth and traditional 401k plans. Guarantee you will at least be a millionaire when you want to retire. Likely much more.

DO NOT BE AFRAID.

How Great Thou Art. God has blessed America.
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,528 Posts
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Nov 11, 2024, 8:55 pm

Quote: Originally posted by THRIFTY on Nov 11, 2024
Bitcoin is trading at $83,000 today. It has been a better investment than playing the lottery. I do not own any Bitcoin. I see many publicly traded companies using Bitcoin as a treasury reserve to protect their cash holdings against inflation, instead of government savings bonds, gold or silver. It might become a worldwide currency in the future though.

I that buying lottery tickets and depending on winning a large jackpot is not exactly a wise investment but there is an entertainment value for 10 bucks a week too. And there many more worse things people could be spending $10 bucks a week on.

"Some people have something to say while other people feel the need to say something"
GiveFive

Florida's West Coast
United States
Member #92,603
June 10, 2010
7,151 Posts
Online

Nov 12, 2024, 7:52 am

Quote: Originally posted by Stack47 on Nov 11, 2024
I that buying lottery tickets and depending on winning a large jackpot is not exactly a wise investment but there is an entertainment value for 10 bucks a week too. And there many more worse things people could be spending $10 bucks a week on.

I've always said "The lottery is a suckers bet"....but I play it anyway knowing full well that hitting a jackpot is a incredibly hard thing to do.

Why do I do it? Because.

Because you just don't know... you could be very glad you bought your ticket even if the jackpot you won isn't a life changing amount of money. Florida Fantasy5 offers jackpots of about $120,000 (evening drawing and 120K is before taxes) but I could use about 90 grand or so.

Because to me it's fun. I enjoy the challenge of trying win enough money that my life would be a tad easier. I buy a car every four or five years, so maybe that cycle would be shortened by a year or two.

Because I have the money to do it, and if my ticket's a loser (most of them are losers) it doesn't hurt my finances any. I don't drink or smoke so I figure I might as well go ahead and blow that 10 dollar bill that's been in my wallet for the past two weeks on something.... G5

Play Smart! That's IF there is such a thing as playing smartly!!
CDanaT

Central TN
United States
Member #121,185
January 4, 2012
9,389 Posts
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Nov 12, 2024, 9:16 am

While the odds are astronomical, the entertainment value of "what if" for a couple of dollars is a positive joy. Even thinking for just those few moments," If I won that,I could or I could help my family or friends or give to this charity. I could give $_____________ to this person but I ain't giving to him cause he is an ungrateful __________." Brings just a smidgen of joy, maybe even a chuckle to ones life as we continue on with the daily grind. Though the jackpot chances are minuscule, it's also the little things that also stand out in ones life. ........Remember, someone has to/will win............... Why not me?... Or you ? Enjoy the upcoming holiday season. Good luck to each and everyone of us.
pstfleur

United States
Member #220,329
January 27, 2022
54 Posts
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Nov 12, 2024, 10:54 am

Hey guys, I've decided to retire from playing the lottery. I've shifted to sports betting lol. I've made $700 over the past two days with an initial investment of $40.

so yeah, it's been fun, but I'm done.
rcbbuckeye

100

Texas
United States
Member #55,887
October 23, 2007
22,271 Posts
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Nov 12, 2024, 5:27 pm

Quote: Originally posted by CDanaT on Nov 12, 2024
While the odds are astronomical, the entertainment value of "what if" for a couple of dollars is a positive joy. Even thinking for just those few moments," If I won that,I could or I could help my family or friends or give to this charity. I could give $_____________ to this person but I ain't giving to him cause he is an ungrateful __________." Brings just a smidgen of joy, maybe even a chuckle to ones life as we continue on with the daily grind. Though the jackpot chances are minuscule, it's also the little things that also stand out in ones life. ........Remember, someone has to/will win............... Why not me?... Or you ? Enjoy the upcoming holiday season. Good luck to each and everyone of us.

Well good luck CDanaT! You're one of the "good guys" here. Keep on playing, but don't overfeed the "monster".

JUST LOOK AT THE ODDS OF ANY JACKPOT GAME, THAT WILL TELL YOU EVERYTHING YOU NEED TO KNOW

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