Do you buy lottery tickets?

17 years ago

Yes, I do buy lottery tickets sometimes just to get rich. But, I don't think I can easily get rich by buying lottery tickets. So, I decided to outsource my skills to buyers. To earn money and earn wisdom.

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JamesFraze

17 years ago

For every winner - there are millions of losers. That is why I don't buy them.

Statistically, you are simply giving your money to the winner.

Also, there is something about the mind - if you are not prepared to have the money - you'll just blow it anyway until you get back down to the poverty level you were at in the first place.

People have to think they actually deserve the money, and have to learn how to handle it in steps before they can keep it.

An exercise that has helped me envision and prepare for greater wealth is to do the following:

1. Budget your lifestyle on a spreadsheet - include all the bills you have to pay, etc.
2. Double your virtual income - budget it again
3. Triple your virtual income - budget it again
4 5x your virtual income - budget it again

You'll see and be able to accept the idea that you are worth more and that you won't lose your identity as your income increases. This was an excercise that Kevin Wilkes taught in his Blueprint course (a good course by the way).

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Nathan Hangen

17 years ago

Originally Posted by JamesFraze

For every winner - there are millions of losers. That is why I don't buy them.

Statistically, you are simply giving your money to the winner.

Also, there is something about the mind - if you are not prepared to have the money - you'll just blow it anyway until you get back down to the poverty level you were at in the first place.

People have to think they actually deserve the money, and have to learn how to handle it in steps before they can keep it.

An exercise that has helped me envision and prepare for greater wealth is to do the following:

1. Budget your lifestyle on a spreadsheet - include all the bills you have to pay, etc.
2. Double your virtual income - budget it again
3. Triple your virtual income - budget it again
4 5x your virtual income - budget it again

You'll see and be able to accept the idea that you are worth more and that you won't lose your identity as your income increases. This was an excercise that Kevin Wilkes taught in his Blueprint course (a good course by the way).

Love that exercise...I've used it in the past and it really makes you think. Which course are you talking about exactly, do you have a link?

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JamesFraze 17 years ago

Originally Posted by Nathan Hangen

Love that exercise...I've used it in the past and it really makes you think. Which course are you talking about exactly, do you have a link?

I don't have my affiliate link with me - but I'll recommend it anyway:

Making Money Online - The Million Dollar Online Blueprint - 7 Online Success Killers
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mywebwork

17 years ago

I used to play the 6/49 religiously when I lived in Canada, biggest win I ever had was about 1100 dollars (but I worked with a guy who split a 10 million dollar prize back in 1996). I limited my spend to a couple of bucks a week, in the long run I spent much more than I made.

Living in Hawaii I can't buy lottery tickets as gambling of any sort is illegal here - probably explains why the most popular vacation destination for Hawaiians is Las Vegas!

Bill

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David-JP 17 years ago

Yeah, about 1x a month I buy a 200y jumbo ticket (japan, about $2). Heard the numbers are picked by an archer. I know I won't win, but it gives me an optimistic feeling.

David
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John Atkins

17 years ago

Waste of money, if you are going to gamble make sure that you bet on something that you know about, not on some stupid lottery...

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ExRat 17 years ago

Hi roderick,

Yes, I'm one of those who is strongly against playing the lottery, particularly if you are someone who aims to succeed in business.

Reason - I believe that if you are going to get to where you want to be, as quickly and efficiently as possible, then you should apply focus, dedication and determination towards this aim.

Even if you only apply 0.0001% of your energy and belief towards playing the lottery, then you are not 100% focused on your goal. There is a huge difference between believing that whatever you want is within your means via utilising your hands and your head, and believing that 'it could be you' who wins the lottery.

Entrepreneurs (should) take total responsibility for gaining their wealth via their own efforts (and those that they employ) - not through luck, but through judgement.

To allow yourself to place any of your hopes and dreams on winning the lottery, you are going against one of the fundamental core principles of entrepreneurialism (phew - 18 letter word!) which is that you accept and crave total responsibility for your own destiny.

Some may find reasons to discard my words and suggest that 'it doesn't hurt' to have a flutter. But then I would say that you are missing the point, need to look below the surface a little and realise that focus, dedication and beliefs are things that are worthless when applied casually at 99% effectiveness.

Lotteries are for people who (deep down) don't believe that they have what it takes.

Hi A-marketing,

if you are going to gamble make sure that you bet on something that you know about

Yep, and then it's not gambling, it's speculation. Subtle, but key difference.
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- JohnMcCabe 17 years ago
  
  I'll confess. I buy a Powerball ticket once in a while when the jackpot gets big enough.
  
  Back when I spent a fair amount of time playing the horses, I found a formula for computing when a wager offered value. I'd have to dig through my notes to find it now, but there is a point where the potential payoff exceeds the odds of winning.
  
  Using a horse racing example, if your analysis of the race says that Horse A has a 1:3 chance of winning, then the 'fair' odds would be 2-1. If the actual odds on the tote board say 3-1, you have a value wager. Anything less than 2-1, and it's not fair value for the risk.
  
  For the Powerball lottery, that 'fair wager' point is about $85 million on a single $1 ticket. So when the jackpot gets above that, I'll buy a single ticket until someone wins. Of course, with those kind of odds, I know I'm likely just buying a few minutes of daydreaming, but at least it's a fair wager.
  
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  PatriciaJ 17 years ago
  
  I stopped buying them years ago and sell them instead. I figured that if I was going to be rich it would be so much sweeter under my own steam. I also knew some lottery winners whose lives changed so much and so quickly that they were happier before their big wins. Sad aint it.
  
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Graham Maddison

17 years ago

I want people to play the lottery lol........as long as they join through my winning ways site

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Thamisgith

17 years ago

I don't buy lottery tickets. It's just a matter of statistics, the odds are way too high.

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SamstaUK

17 years ago

I think wealth just magnifies your personality, if you are greedy or selfish, having lots of money will prove this, it also works the other way, if you are generous, the wealth will also prove this.

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bauger

17 years ago

I just buy a ticket whenever I feel a whim on buying one. I know the odds on winning are slim.

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valerieSONORA

17 years ago

No way. I used to buy some hoping it would be my lucky day like everyone else. Then I realized how much money I had wasted and quit. The money could have been used on a lot of better things.

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Lloyd Buchinski

17 years ago

First you have to notice it is an investment that returns half as much as the money invested. (Maybe less these days.) That isn't my kind of investment.

Mayor Jean Drapeau of Montreal commenting about the start of the 649 lottery already mentioned, called it "a voluntary tax on idiots." It's not often a politician gets in a good quote, but he nailed that one.

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Shaun OReilly

17 years ago

I have never bought a lottery ticket and never will.

I'm vehemently opposed to the idea behind the lottery -
namely that you hope for massive returns from little or
no effort.

Philosopically, this doesn't sit well with my mindset or
outlook on life.

You enjoy and get out of life what you put into it.

What fulfilment is there in getting winnings without
'earning' it?

I'm not suggesting that you have to work your butt
off for your rewards - but at least earn them and enjoy
the fruits of your labor.

I make my own success - and failure - and choose to
place my focus on things I can control or at the least
influence.

I'm not going to place my future success on a lottery
and rely on a bunch of balls and a jet of air to bring
me what I choose to have.

The lottery is known as the idiot tax in the US - for good
reason.

I prefer to invest my money in my own business where
I'm at the rudder.

Dedicated to your success,

*Shaun O'Reilly

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kellymonaghan 17 years ago

The lottery is for liberals who feel they aren't paying enough in taxes.
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Max Ramocsai

17 years ago

No, but that's because I am not of legal age to do so. But if I could I still wouldn't.

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Stallion

17 years ago

Like James Fraze said, you have to know how to handle money or you're going to blow it all. It's amazing what you can buy. They buy a big truck and big house. they take their families out to expensive dinners and go on vacation... than they get to a point about a year later ... they're running out of money and they have pretty big monthly payments.

I don't play games that come down to just a statistical probability of failure. What's the point? I remember in Canada, we had Sports Line. That's where you gamble on sports. Anyway, for some odd reason there was a statistical favor to someone to buy a bunch of tickets for all the different outcomes and win more money. There was some guy that did it and made money. But I'm pretty sure that doesn't happen on purpose, but why not?

Casinos are fun, but they have the odds. Poker at least comes down to a skill set.

I haven't bought lottery tickets. I haven't gambled outside of texas hold'em online. And with that, I only did it with under $50 a few times in my life.

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JayXtreme

17 years ago

I know a guy and his mother who routinely place £40 per week on the national lottery...

Insane if you ask me... I wouldn't need a lottery win, but even if I was in such a situation.. there is no way I'd be wishing on a star for my outcome..

Some people are the CAUSE of their lives... others are the EFFECT of their lives.. I choose to be the cause of my outcome

Peace

Jay

p.s. Having said that... I do occasionally waste money in the machine down the pub.. but that's not hope.. that's beer...lol

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Max Ramocsai

17 years ago

Originally Posted by JayXtreme

I know a guy and his mother who routinely place £40 per week on the national lottery...

Insane if you ask me... I wouldn't need a lottery win, but even if I was in such a situation.. there is no way I'd be wishing on a star for my outcome..

Some people are the CAUSE of their lives... others are the EFFECT of their lives.. I choose to be the cause of my outcome

Peace

Jay

p.s. Having said that... I do occasionally waste money in the machine down the pub.. but that's not hope.. that's beer...lol

Well said. This statement sums up why so few people "make it" in life. And this is the exact reason why I want to pursue the possibilities of IM and create my own wealth rather than follow the "normal" path of life.

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JohnMcCabe

17 years ago

Speaking for myself, buying the odd ticket doesn't mean I'm "counting on luck to give me what I want" or any other moral judgment some of you seem to be making. It's a bit of fun.

Some days I buy a beer. Some days it's a plate of nachos or an ice cream cone. And some days, when the jackpot is big enough to make it a fair wager, I skip the treat and buy a ticket. Better for my waistline, anyway.

There is a dark side, for sure. As in the example Jay cited, where people he knew "invested" a sizable sum every week like they were building a savings account or something.

Back when I played the horses, there was always a line at the ATM after the 7th race. People who had lost their bankroll hitting the cash machine so they could win it back. Depressing...

To be fair, as some posters pointed out, it's a matter of mindset. If you're looking for those ping pong balls to save you, your mind is in the wrong place.

On the other hand, if a skipped beer and a bolt of lightning means I join the ranks of the ultra-affluent early, I won't say no.

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JayXtreme

17 years ago

Originally Posted by JohnMcCabe

Speaking for myself, buying the odd ticket doesn't mean I'm "counting on luck to give me what I want" or any other moral judgment some of you seem to be making. It's a bit of fun.

Some days I buy a beer. Some days it's a plate of nachos or an ice cream cone. And some days, when the jackpot is big enough to make it a fair wager, I skip the treat and buy a ticket. Better for my waistline, anyway.

There is a dark side, for sure. As in the example Jay cited, where people he knew "invested" a sizable sum every week like they were building a savings account or something.

Back when I played the horses, there was always a line at the ATM after the 7th race. People who had lost their bankroll hitting the cash machine so they could win it back. Depressing...

To be fair, as some posters pointed out, it's a matter of mindset. If you're looking for those ping pong balls to save you, your mind is in the wrong place.

On the other hand, if a skipped beer and a bolt of lightning means I join the ranks of the ultra-affluent early, I won't say no.

I agree with you there John..

Nuthin like a bit of sport and fun... my thoughts were purely on the example I gave..

Peace to ya

Jay

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cclou

17 years ago

No. I never have and never will. My husband will buy one every couple of years or so. We got coupons in the mail for the lottery the other day. I put them with my other coupons, but I don't know if we'll bother.

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TiffanyLambert

17 years ago

My dad played religiously for years. He finally hit a smaller one in his 80s - won a quarter of a million dollars. Paid off our home, bought another, splurged on classic Mustangs for the grandkids, etc. It was gone within a year. But it was his dream and he had a blast.

He did it to get rich quick and I'm sure spent WAY more than a quarter of a mil to get it

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cncbuss

17 years ago

I think they're a total waste of time, effort and money. My millions are in the making and I am in control. The only time I feel obligated to play is in a situation where a group I'm in happens to be organizing a group buy. Then I'd feel really sheepish if the numbers came up...

Just my 2cents

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nicholasb

17 years ago

I usually get a couple of scratch tickets when I by gas, not trying to retire just a fun little hobby, while waiting for my tank to fill

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Michael Oksa

17 years ago

I figure my odds of winning the big jackpot are the same whether I buy a ticket or not.

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JohnMcCabe 17 years ago

Originally Posted by Michael Oksa

I figure my odds of winning the big jackpot are the same whether I buy a ticket or not.

It depends on how many decimal places you take the probability out to...

Buy one ticket P(winning) = 0.00000001170 (approximate)

Buy no tickets P(winning) = 0.00000000000 (exactly)

:p
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gxd5

17 years ago

No, but sometimes I like to do scratchers.

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Johnathan

17 years ago

Originally Posted by roderick

Alot of successful business people I know do not or people who want to be successful do not. If you look at the odds of winning the main prize in a big lottery or national lottery the odds are huge. You have 14 million to one chance of winning the big prize in the British national lottery. Is there something to do with wanting to be rich that makes someone not want to buy lottery tickets?

I once heard a quote that "Lotteries are a tax for the mathematically challenged". You might win. But you might not.

If you have some extra cash that you don't need, hey, why not. But if you are looking to lottery winnings as a career movie, not only is it not that sustainable, but it is unlikely you will see the success you want with it.

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Pete Egeler

17 years ago

I might buy 1 or 2 tickets on the Powerball every couple of months. Other than that, if I want to WIN, I play the state's Pick-3 game.

Pete

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fan994

17 years ago

I have never bought a lottery ticket but I have played the slot machines!! I have a better change of winning at the slots than winning the lottery.

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kbayer63

17 years ago

I won about $600 on my first ever purchase when it was 1st introduced in Texas. So yeah, I was bit and hooked for about a year... slowed down to about once a month, or whenever I'm in a convenience store and happen to think about it.

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prosperwithdnb

17 years ago

You can't win if you do not play.

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Michael Oksa 17 years ago

Originally Posted by prosperwithdnb

You can't win if you do not play.

You can only lose if you DO play.
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- VegasVince 17 years ago
  
  Hell yeah. Pick 3, Power Ball, Lotto....scratch off tickets etc etc. It aint like I'm gonna take the money with me when I shoot snakes eyes, capiche!
  
  But I prefer more conservative gambling ventures......like the Roulette Wheel and The Dice Tables.....where I either lose big...or win big.
  
  Truth is.....the only thing better then gambling and winning....is gambling and losing. It's my ultimate skin pop.
  
  Vinnie here has been known to place a wager on which of the two cock roaches running up the wall get to the ceiling first.....and call me a gambling degenerate....but I love the action.
  
  I don't trust people who smoke pipes.....and people who don't back their opinions with money.
  
  I call them "Monday Morning Quarterbacks."
  
  Dudes who tell you who won the big game AFTER the "big game" has been played.
  
  People like this never have the balls to put their money where their mouths are.....cuz they're too scared.
  
  Life is a gamble Warriors. Every day you wake up.....it might be your last. Rolling the dice is a hell of a lot more fun....then saving for some raining day down the road when you'se are too old and bitter to enjoy it.
  
  xxx Vegas Vince
  Legend.
  
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  Johnathan 17 years ago
  
  That's wierd/strange...
  
  I don't understand how 'losing' could be more fun than 'winning'... (Maybe it is just a 'gamblers' mindset -- because actually that's not the first time I've heard that)...
  
  Could you explain? Is it just the big pit in your stomach/your heart stopping temporarily because you just lost a huge sum of money, and not sure if you can get it back?
  
  I noticed your nickname, so assuming obviously you live in vegas and/or love to gamble
  
  Originally Posted by VegasVince
  
  ...
  Truth is.....the only thing better then gambling and winning....is gambling and losing. It's my ultimate skin pop.
  ...
  xxx Vegas Vince
  Legend.
  
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apollocreed

17 years ago

The lottery should just be played for fun. In the same way you buy a beer not in order to quench your thirst or buy a porno mag not in order to procreate.

If you are too broke or too parsimonius to spend $1 on a lottery ticket per week, then that is fine. The millionaires I know do buy a lottery ticket. Even onewho is worth over £200M buys a ticket when if there has been a big rollover. Heck, even Paris Hilton was spotted buying a lottery ticket.

Life is lottery anyway. Ask any child born poor in Somalia or somebody injured by a drunk driver.

AC

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Ian Jackson 17 years ago

Haven't read the whole thread, so apologies for any overlap...

the lottery is merely a(nother) stealth tax upon those who wish to indulge. That said, my Wife and I have just a £1 each if happen we happen pass a newsagent on a Saturday, and as I still have a full time occupation, my colleagues and I have a £ or two if it's a roll-over week.

Either way, we expect little or nothing, and anything else is a bonus
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star lit

17 years ago

No I don't buy lottery, sports betting or indulge in any activity where the odds of my winning- and which I loosely interpret as my success- are chance/luck based.

However my significant other does, or I hope used to.
Past tense because I gave him an ultimatum to stop or leave.
Vince, he must have been thinking along the same lines as you, that gambling and losing
is the only thing better than gambling and winning.
Because he gambled and lost everything in a matter of months.
When I found out we were way into debt.

That was five years ago.
Everything changed overnight.
And my kids and my life has never been the same.
Thus my online adventure.
About two months ago I found a sports betting ticket in his pocket.
The amount spent on the ticket was insignificant, but I took the liberty to read more into his actions and mindset.
And if he persists we WILL part ways.

Gambling in any form, is a personal choice, as long as your actions don't impact on the lives of others.

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Do you buy lottery tickets?

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