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re: Well, I didn't win the Powerball...again
Posted on 9/4/25 at 9:54 am to SquatchDawg
Posted on 9/4/25 at 9:54 am to SquatchDawg
quote:
If I flip a coin 9 times and get heads every time, does that increase my chances for tails in the next flip?
I understand the gamblers fallacy but this is a different thing. What are the odds that if you flip a coin 5 times it hits tails one of those times? Different question that what are the odds it hits tails on the fifth flip. Get me?
1
Posted on 9/4/25 at 9:54 am to Cage Fighter Trainee
I only buy tickets few times a year when the big amount gets in the news. One baw on here says he won 50k years ago. $50k isn’t life changing money but I don’t mind spending 10 bucks a year for a chance.
Posted on 9/4/25 at 9:56 am to T1gerNate
quote:
The odds PER DRAW are the same, but if you are playing the same numbers over multiple draws, the odds of winning for those numbers increases with each additional draw. If you play the same numbers once, the odds are one in a billion or whatever it is. If you play them twice, it’s two in a billion, etc. I’m not suggesting this makes it smart to play the lottery (it is dumb) or that it makes it likely you will win (it is so unlikely it is literally difficult to comprehend how unlikely it is).
You’re assuming the lottery can’t hit the same numbers twice that aren’t your number. It’s not like once they hit a certain time it doesn’t have the exact same chance of hitting those numbers again.
Posted on 9/4/25 at 9:56 am to Saintsisit
quote:
I never understood this. I know this is the OT but is the $20 million starting jackpot not enough for people? Everybody talks about buying on large pots but they act like 20 million is chump change.
Risk vs reward.
The odds are so insurmountable that a low jackpot just doesn’t attract the interest as a huge one. The odds are the same, and everyone knows they aren’t gonna win anyway, so it’s harder to turn loose of that money for a lesser reward.
Posted on 9/4/25 at 10:09 am to olddawg26
quote:
It’s not like once they hit a certain time it doesn’t have the exact same chance of hitting those numbers again.
You are right, per draw. But I am not talking about per draw. By your logic, the odds would be the same for a set of lottery numbers to hit twice as for it to hit once. That is obviously not true.
Posted on 9/4/25 at 10:14 am to Cage Fighter Trainee
quote:
Well, I didn't win the Powerball...again
The lottery. A tax on people that are bad at math...
Posted on 9/4/25 at 10:17 am to Fat Batman
quote:
sure, but that $18,000 spread over 60 years is $312/yr or $6/wk..which is also basically nothing
But put that measly $6 in your 401k and compound the interest for 60 years. At typical rates of return (7%), it would be worth roughly $300k at maturity. At a 10% rate of return, it's well over $1 million. That's something.
This post was edited on 9/4/25 at 10:20 am
Posted on 9/4/25 at 10:20 am to Lonnie Utah
quote:
The lottery. A tax on people that are bad at math...
Or people looking to help fund the education system.
Posted on 9/4/25 at 10:23 am to castorinho
quote:
how does this have 4 upvotes
As I said...
quote:
The lottery. A tax on people that are bad at math...
Posted on 9/4/25 at 10:23 am to Cage Fighter Trainee
Funny that you mention that, I actually won and am now the current owner of tigerdroppings.com.
My first decree as owner is that the only acceptable topics are LSU sports and grilling recipes.
Carry on.
My first decree as owner is that the only acceptable topics are LSU sports and grilling recipes.
Carry on.
Posted on 9/4/25 at 10:29 am to da foozball
quote:
Definitely a scam
My conspiracy theory is powerball is a way to move money from across the country to california's coffers (state taxes)
This post was edited on 9/4/25 at 10:30 am
Posted on 9/4/25 at 10:31 am to bikerack
CA doesn't tax lottery winnings you tin foil hat wearing fool.
This post was edited on 9/4/25 at 10:36 am
Posted on 9/4/25 at 11:22 am to T1gerNate
quote:
I understand the gamblers fallacy but this is a different thing. What are the odds that if you flip a coin 5 times it hits tails one of those times? Different question that what are the odds it hits tails on the fifth flip. Get me?
That’s different.
You can calculate the odds of hitting tails once out of 5 times because each flip is a 50/50 chance. However, what happened the last 4 times does not change the odds of the last flip…it’s still 50/50.
If the lottery was 2 numbers and it was played 1000 times and 2 never hit, it would be improbable sure. But it doesn’t change the fact that the last draw is a 50/50 chance.
Posted on 9/4/25 at 12:28 pm to Bazzatcha
quote:
Both are pretty much zero.
That’s what makes me laugh when people buy 100s of dollars worth of tickets… I usually get 2, it was definitely a joke that I splurged and bought 3 instead…
Only takes one ticket to win, and you can’t win unless you buy one..
Best thing to do is buy into a group of friends or work colleagues.
There was a guy in Metairie who purchased two tickets, that afternoon his wife asked if he’d run to the store and grab some milk. While he was there, he purchased one more ticket. That ticket happened to hit the jackpot.
No chance in hell I’m buying a Mega Millions ticket after it went up to 5 bucks.
This post was edited on 9/4/25 at 12:34 pm
Posted on 9/4/25 at 12:30 pm to Cage Fighter Trainee
The odds are closer to zero than scams are.
Posted on 9/4/25 at 12:48 pm to CleverUserName
quote:
so it’s harder to turn loose of that money for a lesser reward
We're talking $20,000,000.
I understand more tickets being bought by groups at work that pitch in together to buy a lot.
But individuals going just when it gets over 100 makes no sense to me.
This post was edited on 9/4/25 at 12:49 pm
Posted on 9/4/25 at 1:05 pm to SoFla Tideroller
quote:Just in case you are unaware, you win $7. Don't throw it away
Got 2 numbers + the Powerball. That's worth a million or two, right?
Posted on 9/4/25 at 1:43 pm to Cage Fighter Trainee
You baws are why I'm standing in line to pay for my Snickers bar
Posted on 9/4/25 at 2:29 pm to Lonnie Utah
quote:
But put that measly $6 in your 401k and compound the interest for 60 years. At typical rates of return (7%), it would be worth roughly $300k at maturity. At a 10% rate of return, it's well over $1 million. That's something.
Sure, but I'm sure even you "waste" more than $312/yr on something.
Posted on 9/4/25 at 3:42 pm to Bazzatcha
quote:
1,000 / 292,000,000 = 0.000342% vs 0.000000342 % chance of winning.
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