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re: The lotto is nothing more than a poor man tax

Posted on 8/23/17 at 11:09 am to
Posted by shotcaller1
Member since Oct 2014
7501 posts
Posted on 8/23/17 at 11:09 am to
quote:

He is 31 with the mind of an 11 year old


A true Lsu graduate
Posted by LSUBoo
Knoxville, TN
Member since Mar 2006
104470 posts
Posted on 8/23/17 at 11:10 am to
Here, let me give you your first downvote.
Posted by shotcaller1
Member since Oct 2014
7501 posts
Posted on 8/23/17 at 11:12 am to
quote:

No one with that sorta cash is even playing the lottery.


False. Lottery winners are more likely to win another lottery due to how much money they "invest" in the next one. It's not a coincidence this there are multiple multi lottery winners.

There was a podcast that studied this very subject
Posted by BiggerBear
Redbone Country
Member since Sep 2011
3164 posts
Posted on 8/23/17 at 11:20 am to
quote:

2. I know when I buy 5 tickets I'm not really increasing my chances of winning at all.


Though the odds still suck, you do increase your chances of winning by purchasing more tickets, assuming that you don't buy 5 identical tickets.
Posted by PrivatePublic
Member since Nov 2012
17848 posts
Posted on 8/23/17 at 11:50 am to
quote:

it is a tax for poor people and they prey on weak minded individuals


Weak minded individuals have the same voting power as the rest of us. Quit worrying about them.
Posted by PearlJam
NotBeardEaves
Member since Aug 2014
13908 posts
Posted on 8/23/17 at 12:01 pm to
quote:

buy 5 identical tickets.
That's my strategy. You have to zig when others zag. #moneyball
Posted by Spock's Eyebrow
Member since May 2012
12300 posts
Posted on 8/23/17 at 12:15 pm to
quote:

Lottery winners are more likely to win another lottery due to how much money they "invest" in the next one. It's not a coincidence this there are multiple multi lottery winners.

There was a podcast that studied this very subject


Posted by Sneaky__Sally
Member since Jul 2015
12364 posts
Posted on 8/23/17 at 12:16 pm to
quote:

And to make it worse it is a voluntary tax.



True or False.


True - most rich people arent interested in the lotto as they are already very well off financially
Posted by Sneaky__Sally
Member since Jul 2015
12364 posts
Posted on 8/23/17 at 12:19 pm to
quote:


I love you guys that show up every time the lotto gets big and post the exact same thing.

No one cares, and people waste $1 or $10 on much worse things (including booze)

It's entertainment



The funny thing is that at certain levels your expected value is actually positive. The "tax" is on all the people who have been paying in this whole time to get the jackpot to its current level.
Posted by dbeck
Member since Nov 2014
29454 posts
Posted on 8/23/17 at 12:22 pm to
The chances of winning the lottery, while astronomically low, are still greater than the chances of seeing my taxes put to good use.
Posted by DeathValley85
Member since May 2011
19376 posts
Posted on 8/23/17 at 1:57 pm to
quote:

Though the odds still suck, you do increase your chances of winning by purchasing more tickets, assuming that you don't buy 5 identical tickets.


It's negligible though was my point.
Posted by Yewkindewit
Near Birmingham, Alabama
Member since Apr 2012
22026 posts
Posted on 8/23/17 at 3:49 pm to
Nah, when I'll post how much tax I paid on the winnings.
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