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Old 11-27-2012, 10:21 AM
 
584 posts, read 759,871 times
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Quote:
Originally Posted by observer53 View Post
Here's the link to an earlier thread:

Closest place to buy a lottery ticket?
I don't think you can buy a Power Ball ticket in California. California has Mega Millions but not currently Power Ball.

 
Old 11-27-2012, 11:01 AM
 
Location: Earth
4,506 posts, read 5,254,415 times
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Arizona....26 miles inside the border at the Last Chance Stop...South on 93. Good burgers too!
 
Old 11-27-2012, 12:21 PM
 
Location: Sunrise
10,869 posts, read 13,638,218 times
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Quote:
Originally Posted by MSchu View Post
Who let debbie downer in this thread... GTFO with your hyperbolic probability statements that fail to take into account ROI. there would be no place in the world that can possibly even come close to those factors.
Hyperbolic? The odds of being struck by lightning, twice are 1 in 9 million. The odds of winning the Powerball jackpot are 1 in 175,223,510. So I'm being VERY generous in my description.

The ROI of a lottery ticket is so close to zero that we may as well call it zero. If you're looking at lottery as an investment strategy, I wish you luck. But hey, I already know one man who got lucky. Maybe you'll hit the jackpot.

But you have a better chance of finding a Picasso at Goodwill.

15 Things More Likely to Happen than Winning Mega Millions - The Daily Beast
 
Old 11-27-2012, 12:25 PM
 
Location: Kingman AZ
15,371 posts, read 33,759,682 times
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Rosies Den on the way to kingman is a good place to buy .....Primm is always jammed....theres also a place on the kingman Hwy on the way BACK to LV....its rarely crowded.....
 
Old 11-27-2012, 12:58 PM
 
2,180 posts, read 3,625,597 times
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Quote:
Originally Posted by ScoopLV View Post
Hyperbolic? The odds of being struck by lightning, twice are 1 in 9 million. The odds of winning the Powerball jackpot are 1 in 175,223,510. So I'm being VERY generous in my description.

The ROI of a lottery ticket is so close to zero that we may as well call it zero. If you're looking at lottery as an investment strategy, I wish you luck. But hey, I already know one man who got lucky. Maybe you'll hit the jackpot.

But you have a better chance of finding a Picasso at Goodwill.

15 Things More Likely to Happen than Winning Mega Millions - The Daily Beast

so you're saying there's a chance?

I just do not understand the overwhelming need for some to attempt to influence and dissuade others as if all knowledge and thought processes flowed through them in such a manner as to render life with such clarity that it appears the rest of us less than optimal human beings are clouded in a fine mist brought on by rose colored glasses.

I'm just sayin.
 
Old 11-27-2012, 01:17 PM
 
Location: Earth
4,506 posts, read 5,254,415 times
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There's ODDS and then there's LIKELIHOOD!


ODDS are that NO ONE will win the jackpot.
LIKELIHOOD is that eventually SOMEONE will!
 
Old 11-27-2012, 01:32 PM
 
Location: ( ͡ ͜ʖ ͡) (╯□)╯︵ ┻━┻ ̡
7,112 posts, read 10,852,083 times
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Spending $2 on a lotto ticket after a drawing is still more entertaining than spending $2 at the slot machine(max bet)

The entertaining factor of a $2 lotto ticket provides 3.5 days of dreaming and wishing.

The entertaining factor of a $2 max bet at a slot machine is 3.5 seconds.

$2 is hardly blowing or wasting money, when it comes to entertainment.
But on the other hand, $200 is just ridiculous for either gambling or playing the lottery. Standing in line is ridiculous. Missing work(guaranteed money) for a ticket is ridiculous. Fighting for a ticket is ridiculous. Driving long distance is...




Sent from cell...
 
Old 11-27-2012, 01:37 PM
 
Location: Earth
4,506 posts, read 5,254,415 times
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I don't think a state lottery or PB would hurt the casinos one bit!
I don't gamble but I DO buy lottery tickets.

Gamblers won't gamble less to buy a ticket...they'll just increase their gambling buy a few bucks each week.


...As for traveling to AZ to get tickets....I do it once each month on a day off. I enjoy the drive and the burger!
 
Old 11-27-2012, 02:15 PM
 
7,673 posts, read 11,278,341 times
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Quote:
Originally Posted by ScoopLV View Post
Hyperbolic? The odds of being struck by lightning, twice are 1 in 9 million. The odds of winning the Powerball jackpot are 1 in 175,223,510. So I'm being VERY generous in my description.
Not quite.

You're overlooking the fact that people aren't driving to Arizona to purchase a single lottery ticket; they're buying multiple tickets.

If someone buys as few as 20 tickets, they have reduced their odds of winning to "only" 8,761,175 to 1 and they would be more likely to win the lottery than to be struck by lightning twice.
 
Old 11-27-2012, 02:39 PM
 
Location: Sunrise
10,869 posts, read 13,638,218 times
Reputation: 8987
Quote:
Originally Posted by MadManofBethesda View Post
Not quite.

You're overlooking the fact that people aren't driving to Arizona to purchase a single lottery ticket; they're buying multiple tickets.

If someone buys as few as 20 tickets, they have reduced their odds of winning to "only" 8,761,175 to 1 and they would be more likely to win the lottery than to be struck by lightning twice.
I'll carry a long iron bar with me everywhere then. That would certainly please more than a couple of you. And it would improve the odds of 2x lightning strikes.

The only difference between buying one ticket and buying 20 tickets is that people who buy 20 tickets are donating more money to the state coffers. (Which is why Nevada really needs to get on board with this. Free money!)

20 tickets per week = $1,040 per year.

$1,000 invested per year with a modest 10% return yields $532K after 40 years. (I've got a realty fund that has done better than that my entire life, except 2008. I also have an index fund that is sitting at 15% so far this year, and hovers around 10%. It's not like this stuff is hard to do, after all.)

20 lottery tickets per week yields bupkis. Except for those very, very lucky people who beat the very long odds. I'll take the $532K, thanks.

Last edited by ScoopLV; 11-27-2012 at 02:49 PM..
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