U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Great Debates
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-18-2018, 12:50 AM
 
Location: USA
3,087 posts, read 716,258 times
Reputation: 3568

Advertisements

Quote:
Originally Posted by JonathanLB View Post
Not for me. I only buy tickets to the biggest lotteries of all time, $300M and up and usually lately more like $450M or up. I am not wasting $1-2 on a chance to win a small sum of money. If I win a lottery I want it to be at least enough for a nice house so $2.5M would be minimum but as I said I donít play lotteries that are small.
But your odds for winning smaller jackpots are so much better. Much better chance of winning $250k than $400m.
Reply With Quote Quick reply to this message

 
Old 12-18-2018, 10:43 AM
 
7,217 posts, read 1,764,983 times
Reputation: 5175
Quote:
Originally Posted by applej3 View Post
But your odds for winning smaller jackpots are so much better. Much better chance of winning $250k than $400m.
No, thats wrong, the odds are exactly the same...in lottery games, the players are not playing against each other, all it comes down to is matching 5 or 6 numbers that are drawn at random, it wouldnt matter if there was 5 billion people playing or 500, the odds of matching the numbers would be the same.


We just dont hear about all the people that win the small jackpots (under $50 million), lottery wins only make the news when its BIG jackpots.
Reply With Quote Quick reply to this message
 
Old 12-19-2018, 04:17 PM
 
Location: USA
3,087 posts, read 716,258 times
Reputation: 3568
Quote:
Originally Posted by rstevens62 View Post
No, thats wrong, the odds are exactly the same...in lottery games, the players are not playing against each other, all it comes down to is matching 5 or 6 numbers that are drawn at random, it wouldnt matter if there was 5 billion people playing or 500, the odds of matching the numbers would be the same.


We just dont hear about all the people that win the small jackpots (under $50 million), lottery wins only make the news when its BIG jackpots.
No, you're wrong.
Odds for winning a small jackpot are much better than ords for winning a large one.
Reply With Quote Quick reply to this message
 
Old 12-20-2018, 12:22 PM
 
7,217 posts, read 1,764,983 times
Reputation: 5175
Quote:
Originally Posted by applej3 View Post
No, you're wrong.
Odds for winning a small jackpot are much better than ords for winning a large one.
How do you figure that?


The odds of matching 5 or 6 randomly drawn numbers are not effected at all by the size of the jackpot.
Reply With Quote Quick reply to this message
 
Old 12-20-2018, 05:26 PM
 
Location: USA
3,087 posts, read 716,258 times
Reputation: 3568
Quote:
Originally Posted by rstevens62 View Post
How do you figure that?


The odds of matching 5 or 6 randomly drawn numbers are not effected at all by the size of the jackpot.
You mean affected.

It's not hard to figure.

Millions win $2 - $3 everyday in various lotteries.
Quite a few (dozens) win 6 figures every week.
Tens of thousands win $100, $1k or even $5k every week (I've won several times)
But the big top jackpots have few winners, often no winners

Should be obvious to you that the odds of winning smaller prizes is better. Do your own research.

Last edited by applej3; 12-20-2018 at 06:10 PM..
Reply With Quote Quick reply to this message
 
Old 12-20-2018, 05:59 PM
 
Location: Hiding from Antifa?
5,873 posts, read 3,849,214 times
Reputation: 5031
Quote:
Originally Posted by applej3 View Post
You mean affected.

It's not hard to figure.

Millions win $2 - $3 everyday in various lotteries.
Quite a few (dozens) win 6 figures every week.
Tens of thousands win $100, $1k or even $5k every week (I've won several times)
But the big top jackpots don't have as many winners.

Should be obvious to you that the odds of winning smaller prizes is better. Do your own research.
It's obvious to me you are talking apples to everybody else talking oranges. Everybody else is talking jackpots and you are talking lessor prizes in the same lottery. Everybody else is talking about huge jackpots vs smaller jackpots.

Is it more obvious to you now?
Reply With Quote Quick reply to this message
 
Old 12-20-2018, 06:15 PM
 
Location: USA
3,087 posts, read 716,258 times
Reputation: 3568
Apples, oranges, bananas, pears, pineapples, cherries.
No, you're incorrect. Obviously you should do some research. Google is your friend.
And this little piggy went wee wee wee!

Last edited by applej3; 12-20-2018 at 07:36 PM..
Reply With Quote Quick reply to this message
 
Old 12-20-2018, 11:57 PM
 
7,217 posts, read 1,764,983 times
Reputation: 5175
Quote:
Originally Posted by applej3 View Post
You mean affected.

It's not hard to figure.

Millions win $2 - $3 everyday in various lotteries.
Quite a few (dozens) win 6 figures every week.
Tens of thousands win $100, $1k or even $5k every week (I've won several times)
But the big top jackpots have few winners, often no winners

Should be obvious to you that the odds of winning smaller prizes is better. Do your own research.
You are talking about scratch type games now, I was referring to the 6 number lottery drawing, if the jackpot is $3 million or $300 million, the odds are exactly the same of matching the correct numbers.


Im sure plenty of people win the 'smaller' jackpots (under $10 million), its only a big news topic when the jackpots are 100s of millions or close to a billion, not alot of interest in winners of $3-10 million jackpots, Im sure many go unnoticed entirely.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 02:58 AM
 
Location: Reno, NV
498 posts, read 159,636 times
Reputation: 1696
Quote:
Originally Posted by rstevens62 View Post
You are talking about scratch type games now, I was referring to the 6 number lottery drawing, if the jackpot is $3 million or $300 million, the odds are exactly the same of matching the correct numbers.


Im sure plenty of people win the 'smaller' jackpots (under $10 million), its only a big news topic when the jackpots are 100s of millions or close to a billion, not alot of interest in winners of $3-10 million jackpots, Im sure many go unnoticed entirely.

Reduce the field of numbers that you have to match, and the odds of winning go up. A lottery game with a jackpot of $250,000 is not going to be the same game (match a of b numbers) as one with a jackpot of $400 million. Change a and/or b, and you change the odds of winning.


There is more than just one lottery game in existence. There are hundreds, and new ones get invented on a regular basis.
Reply With Quote Quick reply to this message
 
Old 12-21-2018, 03:01 AM
 
Location: Reno, NV
498 posts, read 159,636 times
Reputation: 1696
Another way to look at this is:


Would a set of 1,000 people (they don't know each other) who each won $250,000 have a total happiness higher, lower, or equal to the happiness that one person gets from winning $250 million? Happiness is hard to quantify, sure, but if it could be, I would think total happiness would be higher for a thousand people who won $250,000. A thousand people is a lot more than just one, and the vast majority of lottery players (not just the general population) would be plenty happy with $250,000.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Great Debates
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top