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11-27-2012, 02:04 PM
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#1
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scratch offs worth playing?
hey folks, i decided to try my dumb luck on a scratch off and well if the cash number was a 01 i could've won $1,000 but since my cash number was a 02 i lost $1 but anyway are they really worth risking small amounts of cash for a huge cash prize or just a way for the state to get your money?
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pump playa 2011
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11-27-2012, 02:05 PM
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#2
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tra la la la la la
Join Date: Sep 2009
Location: Boston
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expected return is negative
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weanegro: its like a really tiny person eating a regular size gummy worm
HOW.THE.WORLS.SHOULD.WORK
"Originally posted by komodo-117: our beloved pharmacudical companies"
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11-27-2012, 02:06 PM
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#3
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shortbus crusader
Join Date: Jan 2010
Location: california
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save your money and go back to school, you need it since your dumb enough to play the lottery
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11-27-2012, 02:17 PM
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#4
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What are birds?
Join Date: Sep 2007
Location: Kansas City/Columbia, MO
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As the amount of times you play approaches infinity the return becomes negative. Dave Ramsey calls it a tax on the poor.
__________________
"Someone may beat me, but they are going to have to bleed to do it." -Pre
"And after all of this, I am amazed... COMMONWEALTH University of Missouri
...That I am cursed far more than I am praised."
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11-27-2012, 02:17 PM
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#5
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PoopScooper
Join Date: Apr 2008
Location: Wisco
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I used to buy a scratch off every day during summer. I figured I could afford 90 dollars per summer, never won anything big
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11-27-2012, 02:18 PM
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#6
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tra la la la la la
Join Date: Sep 2009
Location: Boston
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Quote:
Originally Posted by I Have No Legs
As the amount of times you play approaches infinity the return becomes negative. Dave Ramsey calls it a tax on the poor.
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what do you mean "becomes negative"? most of the time the return is negative from the get go and only a few lucky souls ever get anything out of it.
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weanegro: its like a really tiny person eating a regular size gummy worm
HOW.THE.WORLS.SHOULD.WORK
"Originally posted by komodo-117: our beloved pharmacudical companies"
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11-27-2012, 02:19 PM
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#7
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Quote:
Originally Posted by PuzL
save your money and go back to school, you need it since your dumb enough to play the lottery
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I'm still in high school lol but anyway i'd thought i'd risk a low amount of money to on something worth a bigger prize lol guess i gotta wait for black friday of 2015 to go to a casino lol
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pump playa 2011
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11-27-2012, 02:21 PM
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#8
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tra la la la la la
Join Date: Sep 2009
Location: Boston
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since you're still in highschool you probably don't know what expected return is.
for every $1000 ticket there are more than 1000 $0 tickets
__________________
weanegro: its like a really tiny person eating a regular size gummy worm
HOW.THE.WORLS.SHOULD.WORK
"Originally posted by komodo-117: our beloved pharmacudical companies"
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11-27-2012, 02:21 PM
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#9
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Join Date: Apr 2012
Location: Utah
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There's a reason they call it an idiot tax. Don't do it, the odds are against your favor. You're more likely to be killed by falling airplane parts than to win the lottery.
__________________
Looks like doomsday and the apocalypse had a baby; and it's ugly.
-Calhoun, Wreck-It Ralph
I'd be a lot more humble if there was a reason to be.
-Rat, Pearls Before Swine
It's only impossible if you stop to think about it.
-Pirate Captain, Pirates! Band of Misfits
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11-27-2012, 02:25 PM
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#10
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Stalin and Ballin
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The only time I played it ibwas given two and won $20, so yes tots worth it bruh
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I heard you missed me
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11-27-2012, 02:25 PM
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#11
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Quote:
Originally Posted by dub CRISP
since you're still in highschool you probably don't know what expected return is.
for every $1000 ticket there are more than 1000 $0 tickets
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that is true lol but they do say in some cases like buying a scratch off that sometimes the risk is worth the reward unfortunately the risking only a dollar wasn't worth the reward
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pump playa 2011
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11-27-2012, 02:28 PM
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#12
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Join Date: Nov 2005
Location: cbus
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I play with loose change. If I have a couple bucks in nickels and dimes I buy a few tickets. Never really win anything, but it's not like I'm losing much either.
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The Ohio State University
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11-27-2012, 02:37 PM
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#13
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shortbus crusader
Join Date: Jan 2010
Location: california
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Save your money and take a girl out on a date.
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11-27-2012, 02:38 PM
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#14
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Quote:
Originally Posted by kuski19
I play with loose change. If I have a couple bucks in nickels and dimes I buy a few tickets. Never really win anything, but it's not like I'm losing much either.
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im the same way and i was surprise that when i went to the 7eleven where i got the scratch off at that they didn't check my ID to sell if i was 18+ guess the only two things they can card somebody one is alcohol and tobacco
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pump playa 2011
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11-27-2012, 03:16 PM
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#15
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Wax On Wax Off
Join Date: Jul 2012
Location: Arlington (817) TX
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I'm good at scratch offs, I'm probably the best on this whole forum. I win every time.
__________________
I am Not AzaTuR
XBLAzaTuR
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11-27-2012, 03:18 PM
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#16
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rack em'
Join Date: Feb 2004
Location: maryland
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Quote:
Originally Posted by stalefishsk8er
that is true lol but they do say in some cases like buying a scratch off that sometimes the risk is worth the reward unfortunately the risking only a dollar wasn't worth the reward
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it's obviously worth the risk if you win but that's not the point.
here's a little lesson in statistics:
let's say you put down 1000$ in scratch off lotto tickets. pretty sure the chance of winning anything on a ticket is 1/4 chance. so your expected winnings are 250 dollars. it's not worth playing lotto. Gambling should never be done to earn money, it should only be done if you feel like having fun and have some spare money that you do not mind losing.
__________________
"Originally posted by Laureate: day 1:
the creatine has entered my veins. i can feel it raging inside of me. i look down and realize my 11 inch biceps have swollen at least half an inch. i become scared of my own strength. mother knocks on the door to tell me good night, but i tell her not to open the door...i dont want her to see me like this. moments later i catch myself looking at myself in the mirror...i can barely recognize myself.
then i remember the internet is down...and im forced to jack off to thoughts of a girl in my class into a sock. i watch the george lopez show then go to sleep"
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11-27-2012, 03:22 PM
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#17
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Wax On Wax Off
Join Date: Jul 2012
Location: Arlington (817) TX
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Quote:
Originally Posted by p8ntballoc11
it's obviously worth the risk if you win but that's not the point.
here's a little lesson in statistics:
let's say you put down 1000$ in scratch off lotto tickets. pretty sure the chance of winning anything on a ticket is 1/4 chance. so your expected winnings are 250 dollars. it's not worth playing lotto. Gambling should never be done to earn money, it should only be done if you feel like having fun and have some spare money that you do not mind losing.
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naaa brah, those statistics are skewed as **** 'cause I've won like $2000 for like $250 worth of lotto tickets. Like I said, I got mad lotto skills
__________________
I am Not AzaTuR
XBLAzaTuR
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11-27-2012, 03:23 PM
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#18
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Check your math.
Join Date: Nov 2005
Location: Not what you think
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Quote:
Originally Posted by PuzL
your dumb
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ITT: Irony
__________________
ST:Tech- We write Haikus. Also, THE PLAGUE
2001 Viggen // Stage 1 Oil Injection // Stage 3 Exhaust Leak // Wet Clutch Mod
"Originally posted by randomdean: I'm not overweight"
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11-27-2012, 03:24 PM
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#19
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Wax On Wax Off
Join Date: Jul 2012
Location: Arlington (817) TX
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^Now that's ****ing ironic!!!
__________________
I am Not AzaTuR
XBLAzaTuR
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11-27-2012, 03:25 PM
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#20
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Arctic Wolf
Join Date: Nov 2003
Location: Alaska
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Stock trading has better chances. Hopefully I am right, and buttoning down the hatch until the fiscal cliff puts all the stocks on sale, gives me a good position to buy it all up. One stock I invested, earned 20% the next day. I actually made $500 from $1000 in the end.
I am poor, but this is a good experience to have when I make more money.
Last edited by Subterfuge : 11-27-2012 at 03:32 PM.
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11-27-2012, 05:07 PM
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#21
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Join Date: Sep 2012
Location: Stark's Pond
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GO UP DAMN YOU! Not sure if good idea to invest now going to wait and see how they plan to handle the cliff rather than sit on something and hope the economy doesnt dump again. What i dont understand is if the fiscal cliff were to hit say everyones income goes down. How do prices stay the same? Wouldn't we see some sort of deflation, big business would take a hit but im thinking they would take a bigger hit if they didnt lower prices.
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