/biz/ - Business & Finance

buy a ticket

>>663805
don't buy a ticket
the chances of winning are only about 1 in 14 million less

I know a strategy, but I'm not sure if I should share.

http://www.webmath.com/lottery.html

Find out what your percentage is in your home state, then buy 1/4 of the possible tickets. That is a huge return on capital for a 75% risk.

Or go to the nearest casino and bet on roulette spins until you have the necessary capital to bet on lotto wins like that.

> biz posters actually asking for lotto tips

I CALLED IT

I KNEW THIS WOULD HAPPEN

WHY DIDN'T YOU LISTEN

>>663805
for scratchers only play games that are new or about to be retired, they send them out in batches, they want to sell tickets so on a new game they want some early big winners and when its almost over (the last batch) they want to actually sell them all not have it draw out for 9 months so theyll alaso put winners in those.

>>663809
There is nothing wrong with buying lotto tickets.

I don't buy scratch offs or anything, just big lottos. Anyways, the chance is there. People have been through remarkable odds. There are people hit by lightning, killed in terrorist attacks, attacked by sharks, hit by meteors etc etc. The chance is THERE. IF you play of course. If you don't play the chance is absolute zero compared to at least one in x.

>>663854
>not just investing that money

>>663948
>not investing in the lotto

>>663948
my bro was telling me about his investment strategies the other day (he's 20 years older than me)

we've got some property deals going on, he's got plenty in his pension fund, and he's got some in stocks too...

and he spends 1% of his monthly income on lotto tickets.

granted, for him 1% of his income is about 200 tickets per month, whereas for me it would be 11 per month, so he has a much better chance of actually winning. In his words, "it's a strategy - one that may never pay off, but it's a strategy!"

>>663854
>tfw lottos are just a tax on the poor

If you really think there's nothing wrong with lottos, consider the highest rates of ticket purchases tend to happen in lower income areas. It's completely idiotic and a waste of money to consistently play the lotto.

>>663972
That's really fucking dumb.

>>663953
>Investing in something that has a 99.999999999999999999999999999999999999999999999+% chance of not producing any results.

pot odds usually dont justify buying a ticket, unless the jackpot is ridiculously big

>>663953
The only way to invest in the lotto is if you're the one running it.
>>663854
>There is nothing wrong with buying lotto tickets.
Yes, there is.

>>663838
>/biz/ posters on 4chan being retards

I CALLED IT, I- etc

choose 1 cold number
choose 2 or 3 hot numbers
choose 2 or 3 non-cold non-hot numbers

hot numbers appear more often than cold numbers

there's a higher chance for hot numbers to appear than cold number

>>664002
Contrary to popular lottery is a tax on people who can't do maths belief. There are viable statistical studies on how to eventually make return on the lottery. Not sourcing; google it yourself.

Sometimes date +/-1 appears

For example Megamillions 24th Feb 2015

The numbers 15, 23 appears (24-1=23)

But this doesn't happen often, it only happens about once in a month.

>>663953
>>663808
>>663835

http://www.corporateconsumerguru.com/support-your-local-lottery/

These is the only guys in the thread that gets it. Everyone else is damned to be forever poor.

>>664049
Are, even. My phone's autocorrect will always be there to make me look like more of a drooling retard than I am.

>>663805
Dont play lotto dingus

>>663978
Whatever you say buddy. You must be balling and rich. A lot of people I know with 6 figure + salaries play the lotto. Usually just using change from the gas station, pharmacy or 7-11.


Just tell everyone who has been through and impeccably unlikely event such as getting hit by a meteor or attacked by a shark that probably doesn't exist. It's only a dollar or two. If you play, the chance is there no matter how small. If you don't play the chance is an absolute zero.


Get off you're high horse bud, you're probably no better than anyone else financially.

>>664032

And I suppose you're making mad free money off these techniques right?

buy in a pool with the people at your work

>>664062
>Just tell everyone who has been through and impeccably unlikely event such as getting hit by a meteor or attacked by a shark that probably doesn't exist. It's only a dollar or two. If you play, the chance is there no matter how small. If you don't play the chance is an absolute zero.
>Get off you're high horse bud, you're probably no better than anyone else financially.

You sound like such a ham and egger.

expected value of playing is negative
expected value of not playing is 0
you are mathematically worse off if you voluntarily play the lotto

>muh lightning
people struck by lightning presumably did not make an explicit choice to do so.

>>663805
Well retard has anyone here won?
>no
Therefore strategy no work

>>664100
I won 10 dollars once-your argument is invalid

>>664049
>spending money is more fun than making it
I dont think many people disagree but that doesn't make it an investment

>>664104
Dangit

>>663805
There is no strategy to the lotto. Only stupid fucks believe that shit.
If you MUST play, do so on big jackpots, and only if you have the money to spare. Don't be that cunt who has zero to his name and spends his last on hopes of god, luck, or the universe giving him his over due reward.

>>664124
>Don't be that cunt who has zero to his name and spends his last on hopes of god, luck, or the universe giving him his over due reward.

Are you me?

>>663972
he doesn't have a much better chance

>>664124

this op

in general you will always loose money on lottery tickets. It's just not designed to let you win. You have a better chance of getting rich from learning how to count cards and going to vegas. A good way to tell if someone is uneducated or otherwise a moron is if they buy into the whole lottery thing and wait for the numbers to be called on TV

prove that the lottery cant be a good investment

protip: you can't

There's better things to spend money on than losing money.

>>665069
Chance of winnig the loto max is 1/28,6 million
If you win the jackpot you win 50 million
Price is $5
>Expected value of winning the loto max

Expected value of winning
1/28600000 * 50000000 - 5 = $-3,25

Expecteed value of not buying
1 * 5 = $5

Therefore, you shouldn't invest on it.

>>664031
Except theyre randomly drawn so thata not truw its just hindsight bias

>>665103
>babbys first statistics class

>>663854
>If you don't play the chance is absolute zero compared to
Compared to a negative expected value, dumbass.

>>663805
Don't.

>>663948
This. The best advice is for every dollar you would spend on a lottery ticket (assuming you're not just gambling for entertainment purposes), would be to put that dollar into an investment instead.

Capcha: bustm

>>663808
you have to make the money to buy a ticket though

>>665103
Expected value of not buying is $0 Anon

>>663805
>When people buy 10 tickets in the huge lottos
retarted
just buy 1 your odds are almost exactly the same

I've always found that choosing Unique and Original™ numbers works for me ;)

>>666666

use that as your lotto number

best strategy is lottery pool

>>665103
Man, you people have some shit lotteries. The regular Lottery for my country has a 1/8.5mil chance of winning 1st division which is 4 million dollars.
There are usually ~4 winners every week so they each get about 1mil. Tax free too.

I play about 4 times a year.

>>663805

Nothing on winning - only thing you can do is reduce the amount you share with others if you do win.

1. Do not pick single digit numbers
2. Pick most of your numbers above 31 - almost everyone uses birthdays
3. Never pick sequential numbers

>>665103
>everything is an investment


People play the lotto expecting to lose and with that clear in their kids. The lotto is NOT an investment.

>>663805
not playing

>>664002

Tell that to the people who have won.

Not sure if this has already been said, but if you play for fun, then no big deal.

I play about $20 every month for kicks. Even if I lost, no big deal.

in uk there is a National Lottery game called Lotto Hotpics

basicly one of the games(£1 per game) is you choose three numbers out of 49 and you win £450 if you get all three right. So I played like £350(online limit) worth and got three lines right

>>663805
1) Buy a couple for shits and gigs with pocket change. Once there's a few coins clinking in my pocket, I usually try and offload them anyway or give them to a homeless person.

What you poorfags saving them for, your penny jar?

Is this /biz/ or /jew/?

5) If you genuinely want prizes and want a 'strategy' (and I use that term loosely) there are only two strategies - buy more tickets for the same draw, or join a syndicate.

End of fucking list.

/thread/

>>667574
Interesting.

Just to clarify, you won three lines?
(three sets of three numbers)
Or just three numbers?

Total winnings £1,050?
Or £450?

>>663809
>>665054
>>665103
>>665885
>>666710
>>666740

To EVERYBODY quoting statistics and maths -

BACK TO SKOOL NIGGAS

Also - Risk/reward, ROI arguments are invalid,
If your alternative is stock market/business, etc,
Since the vast majority of people will not make an income or profit there without considerable investment of time and money and effort.

>someone comes on biz, asks where to invest $1k or $100 a month
>everyone laughs, tells him to fuck off, poorfag
>you need $5-10k or $500 a month to make real money faggot

I see this every day, but you can play the lottery for a buck a week, or four dollars a month, and the potential return exceeds anything else.

The title of this thread is 'lotto playing strategies'
Not 'how do I get rich playing the lottery'

You are assuming it's jackpot or nothing,
And saying it's zero chance, zero odds, 14 million to one, 50 million to one, a billion to one, etc etc

No.

OVERALL ODDS are what counts,
And there are often MULTIPLE prizes and odds,
Many of which are life-changing amounts for most people, if used correctly.

Depending on the country/state you're in,
And the game rules of that SPECIFIC lottery and the specific GAME.

<see pic,
This is one lottery (UK National Lottery) but several versions (GAMES) exist,
So your game theory needs to be adjusted for each individual game.

Variables include the prize money, number of entrants/players, how many numbers is a bet, total numbers in pool, etc

There are scratchcards here with 1 in 6 overall odds, but most prizes are £1/2, which skews the odds, for example

>>668028

>mfw I forgot the pic

< this is just one lottery, but several games or versions exist

>>668030
That shows multiple prize odds,

<This one shows OVERALL odds across several games.

Also, the UK lottery does raffles on top of the lottery for some games - tickets that don't win get more chances to win prizes like diamonds, safaris, cars, etc the promotions vary from time to time,
But I know of no other game that gives you multiple chances to win...tax free

>>668028

expected value is what counts, retard

and you are expected to lose when it comes to the lottery.

take an intro to statistics course, idiot.

>>668028
You fucking idiot the EV is ALWAYS going to be negative, that's why the lottery exists in the first place.

>>663809

Powerball and Mega Millions were 1 in 175 million last time I checked

>>663805

My strategy is to buy a ticket when I'm bored and have a filthy dollar bill I want to get rid off

Don't play.

>>668038

Any good strategies for winning the Euormillions? I almost won the millionaire raffle once but I've thought of using the most or least popular numbers as my picks.

>>667999
three sets, thats 450x3

>>668038

Are there statistics on the average number of Euromillions tickets bought in the UK. I want to know what the odds are of actually winning the millionaires raffle.

>>664031
Learn to Gambler's Fallacy.

>>663805
Get every winning number that the current lotto machine has produced. For each number pick whichever number occurred the most. Then buy a ticket with random numbers.

So we all agree taking the lump sum is superior right?

>>663805
> Odds vs Even number distribution.
Take 6 number lottery, majority of games will be 3/3, 4/2 or 2/4 in the odd/even number distribution. 1/5 and 0/6's will have a very low chance of being drawn. Cant remember the exact odds but its very low in comparison (like a few %).

> Random numbers are being pulled
It's highly unlikely you will get 1,2,3,4,5,6 in a 6 number game. Same as 12,13,14,15,16,17...
Run a simple python script and see how often 4, 5 or 6 adjacent numbers are pulled from a random generator. I would bet 5 and 6 would be extremely low so you could cull them from your games.

I use a system that uses the above (and a bunch of others). I don't mind throwing spare change into the game every week as my local lottery donates a lot of money to good causes.

>>668055
>>668062
I'm a hustler and a daydreamer. not a mathematician.

>2015
>paying for courses

I work for myself, I never got much value out of organised education, (even though my EV was high! How about that!) but I can, and do, hire people with long lists of very impressive qualifications.

The EV = 0 argument is not that straightforward.
Google it, opinion is widely varied, depending on the lottery, game or model used.

It depends on variables such as the number of expected vs actual players vs the jackpot sum.
If it 'rolls over' this skews the model.

The perception of the utility function in the EV model is arguable too.
(to win? Or the fun/hope/fantasy/daydreaming?)

I didn't go too deep, this was just from page one on Google, but was interesting, thanks.