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Blinkman987 posted:To take a slightly different spin on what Krispy said-- I largely agree but I think the cross section of people that will throw a few bucks at a huge mega jackpot is far, far larger than the type that blindly play their numbers day to day/week to week on Pick 3, Pick 4, Lotto, etc.
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Jan 11, 2016 20:15
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The last powerball had no winner. Millions of people played and no one won. Why the gently caress would you play a lottery with odds so crappy?
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Jan 11, 2016 20:46
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i can think of 1.3 billion reasons bro 
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Jan 11, 2016 20:48
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cowofwar posted:The last powerball had no winner. Millions of people played and no one won. Why the gently caress would you play a lottery with odds so crappy? Because people are also Bad With Large Numbers And Probability.
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Jan 11, 2016 20:48
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I always contribute $2 to my office pool to hedge against them actually winning and my company no longer having enough employees to function.
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Jan 11, 2016 20:49
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The naive expected value is actually worth playing now. But add any nuance and it's still a crappy investment: http://marginalrevolution.com/marginalrevolution/2016/01/powerball.html
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Jan 11, 2016 20:50
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When it gets big like this I like to throw a few bucks at it. 3 days of fantasizing about telling my boss to go gently caress himself and walking out is well worth $2 e: but I consider it as entertainment and not an investment
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Jan 11, 2016 20:51
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cowofwar posted:The last powerball had no winner. Millions of people played and no one won. Why the gently caress would you play a lottery with odds so crappy? For the person that Barry mentioned, the casual player who throws a few bucks in when it's a national news story-- because marketing works, and because the emotional and mental payoff of the "fun" of having a irrationally small chance at a life-changing amount of money is potentially worth more than the $1-$2 those particular people pay. Also, totally agree with Antifreezehead.
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Jan 11, 2016 20:52
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Some people also play slots for fun. Lots of hobbies are negative expected value.
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Jan 11, 2016 20:53
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Odds are 1 in 292 million.
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Jan 11, 2016 21:17
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cowofwar posted:Odds are 1 in 292 million. Just imagine that everyone is Jim Carrey in Dumb and Dumber.
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Jan 11, 2016 21:33
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Renegret posted:When it gets big like this I like to throw a few bucks at it. Yeah, sometimes BWM is good with mental health. Cheaper than a therapist I guess.
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Jan 11, 2016 21:34
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cowofwar posted:Odds are 1 in 292 million. Yeah they actually changed the rules for Powerball recently, so that they could decrease the odds of winning the jackpot from 1 in 175 million to 1 in 292 million as you said. They also increased the odds of winning the smaller payouts to trick more people into thinking it's worth it to play.  http://time.com/money/4066960/powerball-lottery-new-rules-odds/
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Jan 11, 2016 21:37
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It's $2, I probably lose more than $2 a week being careless with my change. Some of you need to really get a handle on balancing GWM and GWL. If someone wants to grab a ticket for funsies cause it's the biggest jackpot ever and it fits in their discretionary spending, why the gently caress do you care?
Rurutia fucked around with this message at 21:42 on Jan 11, 2016 |
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Jan 11, 2016 21:39
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Buying one ticket is fine. Hell, buying one ticket for every drawing is fine if you're not hurting for cash. At that point, much like with any gambling, it's just a little added entertainment expense. The problem is that often you have people buying tickets instead of, say, nutritious food when their kids are going hungry or only eating McDonalds. Or they spend $100/week on scratch-offs. In those cases the fantasy of winning is actually harming their lives.
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Jan 11, 2016 21:45
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Rurutia posted:It's $2, I probably lose more than $2 a week being careless with my change. Some of you need to really get a handle on balancing GWM and GWL. If someone wants to grab a ticket for funsies cause it's the biggest jackpot ever and it fits in their discretionary spending, why the gently caress do you care? Each $2 ticket adds about $1 to the cash payout. So the current estimate of $868m is 1.73 billion tickets sold. That's 7 tickets per US adult. Which wouldn't be a big deal if this was a one time thing, but this jackpot isn't even particularly large with the new odds. There's a good chance at an even larger one in the next 6mo. And in 5 years when lottery fatigue sets in again and they lower the odds to 1:400 to allow for bigger jackpots, expect some jackpots that go up to 15-20 tickets per adult population. It's getting to be kind of excessive.
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Jan 11, 2016 21:54
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Dr. Eldarion posted:Buying one ticket is fine. Hell, buying one ticket for every drawing is fine if you're not hurting for cash. At that point, much like with any gambling, it's just a little added entertainment expense. I know a dude who's wife gave him some cash to put a down payment on a party hall for their daughter's graduation party, and he went and spent it all on lotto tickets instead. His wife later found duffle bags full of scratch offs. This was years ago, I don't really know where they stand on his addiction right now. It's just gambling, and just like any other gambling it can be done in a healthy and responsible manner if you can control yourself. I used to work a job where I had to sell lotto tickets though, and that lotto machine was the most soul sucking aspect of that job. Barry posted:Yeah, sometimes BWM is good with mental health. Cheaper than a therapist I guess. Or booze
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Jan 11, 2016 22:00
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Renegret posted:I know a dude who's wife gave him some cash to put a down payment on a party hall for their daughter's graduation party, and he went and spent it all on lotto tickets instead. BWM Thunderdome. Two terrible ideas enter, no money leaves.
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Jan 11, 2016 22:07
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Problem gambling is a bit terrifying in that it's the only addiction I can think of that is openly exploited by the government. I mean, the help lines are there, but that seems like a token maneuver to say "we're totally not exploiting the desperate and uninformed!"
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Jan 11, 2016 22:14
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Renegret posted:
My preferred vehicle for self medication but $2 doesn't tend to buy a lot of booze.
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Jan 11, 2016 22:15
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If you're poor, the two dollars you spent on a ticket was going to go down a hole anyways. Might as well dream of a better life for a few days.
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Jan 11, 2016 22:17
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Not a Children posted:Problem gambling is a bit terrifying in that it's the only addiction I can think of that is openly exploited by the government. I mean, the help lines are there, but that seems like a token maneuver to say "we're totally not exploiting the desperate and uninformed!" Ya, cause running numbers isn't going to be some sort of organized crime thing.
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Jan 11, 2016 22:21
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Not a Children posted:Problem gambling is a bit terrifying in that it's the only addiction I can think of that is openly exploited by the government. I mean, the help lines are there, but that seems like a token maneuver to say "we're totally not exploiting the desperate and uninformed!" In many places, the government runs the liquor stores. In many more they collect a surtax on alcohol.
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Jan 11, 2016 22:58
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Armacham posted:Yeah they actually changed the rules for Powerball recently, so that they could decrease the odds of winning the jackpot from 1 in 175 million to 1 in 292 million as you said. They also increased the odds of winning the smaller payouts to trick more people into thinking it's worth it to play. The Powerball rules have been tweaked like 7 times in the last decade to make jackpots bigger and bigger. Turns out unsurprisingly that record jackpots generate a lot of free media attention and sell a gently caress ton of lottery tickets!
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Jan 12, 2016 00:03
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Yeah, despite how people say 'I'd be much happier if they gave a hundred people 1M each instead of 100M to one guy' that absolutely doesn't maximize ticket sales. People want the big score and it generates attention.
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Jan 12, 2016 00:23
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Not a Children posted:Problem gambling is a bit terrifying in that it's the only addiction I can think of that is openly exploited by the government. I mean, the help lines are there, but that seems like a token maneuver to say "we're totally not exploiting the desperate and uninformed!" Where I live there is a lot of tax on alcohol and tobacco products. It's just straight up revenue from addition and New Zealand's binge drinking culture. The Government collects more revenue than the total health costs to the nation. One discussion on fb included talk of people spending $100 per week on smoking which is BWM. It did trigger discussion about quitting and instead spending the money on travel. Hopefully some will turn this BWM into GWM.
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Jan 12, 2016 00:40
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What do you guys think of no-lose lotteries/prize linked savings accounts?
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Jan 12, 2016 01:26
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Antifreeze Head posted:Can't win if you don't play, right? Same here. It also helps that I have little to no interest in most of the kinds of things that typically scream "I'm a rich rear end in a top hat" to one's immediate neighbors. There are things I'd possibly like to do that cost a relatively large amount of money, but most of them involve building and operating awesome machines. Subjunctive posted:In many places, the government runs the liquor stores. In many more they collect a surtax on alcohol. And what about tobacco taxes which, in most states, account for a major portion of cigarette prices? They started out as a means of mitigating the social cost of smoking, but have since become a politically safe avenue for tax hikes.
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Jan 12, 2016 01:55
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Renegret posted:I know a dude who's wife gave him some cash to put a down payment on a party hall for their daughter's graduation party, and he went and spent it all on lotto tickets instead. His wife later found duffle bags full of scratch offs. This was years ago, I don't really know where they stand on his addiction right now. There was some thread on Reddit today that I saw on my phone at lunch, in one of the relationship subreddits, where a woman was posting because her boyfriend drained their entire savings account to buy $120k worth of Powerball tickets, but I can't find it now.
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Jan 12, 2016 02:08
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Jesus  Two weeks into the new year and we already have a 2016 Wonderhanger contender right there.
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Jan 12, 2016 02:30
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I posted earlier in this thread about a girl I dated for a bit who has a pack a day smoking habit, multiple Dunkins runs, shops from Finger Hut, and some other troubling habits. As well as two kids. It didn't work out, romantically. We're still friends, though. I visited her facebook today (she's a big Bowie fan) and saw that after finally paying off her minivan, she bought a brand new one. It wasn't that the other one was totaled, she said in the comments that she watched it drive away. She got it from Carfax, which I imagine didn't do her any favors. One step forward, two steps back.
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Jan 12, 2016 02:37
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Moneyball posted:I posted earlier in this thread about a girl I dated for a bit who has a pack a day smoking habit, multiple Dunkins runs, shops from Finger Hut, and some other troubling habits. As well as two kids. It didn't work out, romantically. We're still friends, though. This mystifies me. I've gotten pretty accustomed to people having a high (BWM) turnover of cars in the US. In New Zealand the average car age is 14-15 years and we import a lot of second hand cars. Why is there an obsession in the US with selling perfectly good vehicles all the time?
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Jan 12, 2016 03:15
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HelloIAmYourHeart posted:There was some thread on Reddit today that I saw on my phone at lunch, in one of the relationship subreddits, where a woman was posting because her boyfriend drained their entire savings account to buy $120k worth of Powerball tickets, but I can't find it now. Sometimes, murder should be legal.
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Jan 12, 2016 03:33
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Devian666 posted:This mystifies me. I've gotten pretty accustomed to people having a high (BWM) turnover of cars in the US. In New Zealand the average car age is 14-15 years and we import a lot of second hand cars. Why is there an obsession in the US with selling perfectly good vehicles all the time? The US average car age is 11.4 years, probably caused by us driving more
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Jan 12, 2016 03:45
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Devian666 posted:This mystifies me. I've gotten pretty accustomed to people having a high (BWM) turnover of cars in the US. In New Zealand the average car age is 14-15 years and we import a lot of second hand cars. Why is there an obsession in the US with selling perfectly good vehicles all the time? An average age of 14-15 years is so foreign to me. My car is 13 years old and I've got plenty of people asking why I don't get a newer one. Like I personally can't think of any adult that I know with an older car than mine. Does everyone in New Zealand buy Singapore's cars once they turn 10 and have to leave the island? ETA quote:The US average car age is 11.4 years, probably caused by us driving more flynt fucked around with this message at 03:56 on Jan 12, 2016 |
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Jan 12, 2016 03:52
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Series DD Funding posted:The US average car age is 11.4 years, probably caused by us driving more And also large differences in PPP
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Jan 12, 2016 03:52
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Series DD Funding posted:The US average car age is 11.4 years, probably caused by us driving more That's not as bad as what I thought it would be. I guess it comes down to the small percentage of BWM consumers going crazy on new vehicles.
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Jan 12, 2016 03:54
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flynt posted:An average age of 14-15 years is so foreign to me. My car is 13 years old and I've got plenty of people asking why I don't get a newer one. Like I personally can't think of any adult that I know with an older car than mine. Does everyone in New Zealand buy Singapore's cars once they turn 10 and have to leave the island?
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Jan 12, 2016 04:11
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All of your cars in NZ are second-hand from Japan. They tax people out of old cars over there, on top of size and engine displacement taxes. A big thing in the US is that the Northeast just loving eats cars. The south and west have zero rust, the midwest and the northeast are brutal on cars.
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Jan 12, 2016 04:13
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I know I kind of started another car chat derail, but I really can't judge my friend too harshly- In August 2014, I financed an overpriced used Infiniti at an almost usurious interest rate. I had totaled my old car in the snow in January, taking the bus for the time being. After multiple nightmares ranging from trying repeatedly to get the dealer to fix warranty issues to the car being stolen and left broken down on the side of the road, I traded it in this past June for a 2014 Elantra. I sunk a bunch of money doing all that, but I just wanted to forget 2014 and close the book on it. No more bad decisions. I figure, get it all paid off (71% there!) then baby it until it falls apart. 15 year cost of ownership should (I hope!) be close to or less than multiple trades, repairing less reliable cars, financing new ones etc. All future cars will be paid for in cash (or financed at 0%) for life. Phone posted:the Northeast just loving eats cars. Then again, I do live in Massachusetts. Moneyball fucked around with this message at 04:36 on Jan 12, 2016 |
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Jan 12, 2016 04:32
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