Powerball: Stupid Tax?

[snoopy369]

My mom goes to the indian casinos every weekend, and my dad thinks that is different then playing the lotto. I don't get it.

In terms of 'paying for entertainment value', it's roughly the same, though if you're reasonably careful at the casinos you probably get a lot more entertainment for your money (how much does Powerball really entertain you?).

As an investment, casinos are much better in terms of your likelihood to make money; casino games vary wildly on their expected payoff amounts, but most games pay at least 80% or so, and plenty of games pay in the high 90%s. Even many slot machines pay very high percentages. When the percentages are that high, a lot of people will win (net, in one session).

However, casinos also allow you to gamble a lot more money in a short amount of time; I doubt you can realistically buy more than a hundred powerball tickets or so at once, and even that's only $200. You can put a $100 token in a slot machine, IIRC, and lose it in about 2 seconds. So in terms of "potential damage", casinos are probably worse, but if you're not an addict and play responsibly [bring $200 and go home when it's gone], they're probably better.

Of course you can make money at poker table games, but unless you know yourself really well I don't recommend trying it - even if you're good at online poker. Treat it as entertainment until you've done it for a year or two and have a good idea of when/how you can win.

[snoopy369]

There's no practical difference between winning $10 million and winning $100 million. People play the lottery because knowing that there's a chance their lives will change for the better makes them feel good. I guess it's a tax on people who have an otherwise bleak future.

Eh, there is some marginal entertainment value even for people who have enough money to buy things but are not rolling in dough. I have played once in the last five or so years, as part of a pool at the office on one of the 'big win' days; as a social event and mild entertainment value it was amusing. IIRC we bought 10 tickets as a group and won $0; but for a couple of dollars, who cares.

[Guynemer]

Of course you can make money at poker table games, but unless you know yourself really well I don't recommend trying it - even if you're good at online poker. Treat it as entertainment until you've done it for a year or two and have a good idea of when/how you can win.

Or just play against hilljacks from Southern Ohio and count on making $200-$600 every 3-4 hours or so.

[Sava]

if i was going to spend $10 for entertainment, i'd call your mom

[giblets]

What will you spend the other $8 on?

[Sava]

valtrex

[Colonâ„¢]

My dad says it's "Stupid Tax" to play the lottery because the odds are so bad. I tell him that the odds are infinitly worse if you don't play at all.

You will have more chance of having sex with Scarlett Johansson by breaking into her home into waiting in her bed nude, than when you don't do anything at all.
You will have more chance of becoming president by standing in front of the White House and shouting "I should be president" every day, then when you don't do anything at all.
You will have more chance of conquering Mexico by invading the country with a pistol, than when you don't do anything at all.
You will have more chance of getting to the Moon by jumping to it from a really tall mountain, than when you don't do anything at all.

[Sava]

You will have more chance of having sex with Scarlett Johansson by breaking into her home into waiting in her bed nude, than when you don't do anything at all.
You will have more chance of becoming president by standing in front of the White House and shouting "I should be president" every day, then when you don't do anything at all.
You will have more chance of conquering Mexico by invading the country with a pistol, than when you don't do anything at all.
You will have more chance of getting to the Moon by jumping to it from a really tall mountain, than when you don't do anything at all.

I disagree. Someone will not succeed at any of those things. Someone wins the lottery.

[Colonâ„¢]

Yeah, and someone has sex with Scarlett Johansson. That scumbag. Anyhow, the odds are better than when you don't try at all.

[rah]

I didn't know that someone that broke into her house and waited in her bed naked actually got rewarded with sex.

[Colonâ„¢]

I didn't know that someone that broke into her house and waited in her bed naked actually got rewarded with sex.

That's not guaranteed. I'd say the chances are about 1 in 195 million. That's better than nothing though.

[rah]

Sorry, I thought you were inferring that it had happened. I have to agree with Sava, the odds of that are 0.

[Colonâ„¢]

No, not nil. Just very, very, very slight.

[rah]

Again, I have to disagree. Give it a try an let us know

[Colonâ„¢]

Frankly, you don't seem terribly good at understanding odds either.