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Is the Lotto the dumbest thing in modern society and should it be banned?

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    #92
    AlekSmart
    Registered Users Posts: 14,005 ✭✭✭✭AlekSmart


    weldoninhio wrote: »
    Canadian Teachers Retirement fund from what I can remember.

    I say Hooray for Paleoperson....I was happily skipping along the Boards highway,when I spotted the Thread title.....guess where I ended up.....:o

    Oh well in about 45 mins I'll agree/disagree with the premise !! :D


    Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.

    Charles Mackay (1812-1889)



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    #93
    The gray bird
    Closed Accounts Posts: 86 ✭✭The gray bird


    I won 500 the other week i only do it the odd time as well


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    #94
    4068ac1elhodqr
    Closed Accounts Posts: 9,586 ✭✭✭4068ac1elhodqr


    The gray bird wrote: »
    I won 500 the other week i only do it the odd time as well
    Sounds like that would have been a 'Match5' on the regular Ire lotto?

    If so, that could have been €130k (on a cheaper ticket), only difference would be that there would only be 5 to pick from, not the full standard 6.


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    #95
    Professor Genius
    Banned (with Prison Access) Posts: 391 ✭✭Professor Genius


    TheValeyard wrote: »
    It's not the worst.

    Single use wet wipes are far worse.

    Wet wipes are essential for a clean and comfortable anus.


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    #96
    is_that_so
    Registered Users Posts: 32,136 ✭✭✭✭is_that_so


    Professor Genius wrote: »
    Wet wipes are essential for a clean and comfortable anus.
    But not down the toilet!


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    #97
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    Amy Purple Sellout wrote: »
    Sounds like that would have been a 'Match5' on the regular Ire lotto?

    If so, that could have been €130k (on a cheaper ticket), only difference would be that there would only be 5 to pick from, not the full standard 6.

    That's the professional gambler's mindset.. I played a poker tournament with my brother recently and he was talking about how often you have to place or win to have a winning average or whatever. He used to be a professional poker player so that's his gig, whereas I was just there because it made my heart race and it was a bit of craic.. I was happy paying for the experience.

    It doesn't apply to the lottery. People aren't looking for percentage returns. They're daydreaming about something bigger, and the odds being worse are irrelevant. "Someone will win and it might be me" is more of a driver than making good bets.


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    #98
    decky1
    Registered Users Posts: 975 ✭✭✭decky1


    believe it or not my uncle won 10,000 at the weekend on the Lotto, nice lift for the new year.


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    #99
    4068ac1elhodqr
    Closed Accounts Posts: 9,586 ✭✭✭4068ac1elhodqr


    Deleted User wrote: »
    That's the professional gambler's mindset.. I played a poker tournament with my brother recently and he was talking about how often you have to place or win to have a winning average or whatever. He used to be a professional poker player so that's his gig, whereas I was just there because it made my heart race and it was a bit of craic.. I was happy paying for the experience.
    It doesn't apply to the lottery. People aren't looking for percentage returns. They're daydreaming about something bigger, and the odds being worse are irrelevant. "Someone will win and it might be me" is more of a driver than making good bets.
    While there is some truth in that the 'mega-win fantasy' all it takes is a very small bit of education, to assess and pick a more realistic route to millions.

    The hotpick type options via bookies is better, but it should be noted some books have a 'shop limit' at 100k, so that's only suited to 2/3/4 ball matches.

    One of the best (larger) euromillions picking markets, is across the water with a solid g'tee of £1m squid (for 5 EM balls) for just 1.50 stake. Whilst the real-world ratio is twice as high (2.1m) on this market, it can be lowered using basic probability methods and has some advantages despite higher odds than 4/3/2.

    The lower 4 EM-hotpicks with books are closer to real-world odds the lower the payouts e.g. 33k/1 (71.6%) rtn for a €1, 46,060/1 event. Or 1500/1 (76.5% book value) for an 3ball 1,960/1 event. 2balls is best book value 81.3%.


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