Post: #1

I have hardly ever played the lottery - but as I get older I am wondering if that is stupid? Seriously...

You only live once and it seems reasonable to buy a ticket to instant, insane wealth. People win the lottery each week whilst thinking they would be the last person on earth to do so.

Now - I know the old putdowns - like 'the lottery is a tax on stupid people'. But - there will be many 'intelligent' people who would have won the lottery. But will never know that since they were never in a position to have their dreams answered.

Lastly - it seems rational to start playing the lottery as young as possible. You want to have your friends, health and libido in place in order to fully enjoy your winnings.

I know people at work who are less than a year from retirement who play the lottery each week. And I always think it would be quite sad to win the lottery towards the end of your working life. Much better to win it young so that you can drop out of the rat race at least 20-30 years early!

I guess this post is further evidence that I over analyse things. But I think it is an interestng thing to think about since it reveals something about your overall goals in life. Are you the type of person who wants to shoot for the stars?

Or do you see that money as being a waste since it could accumulate more productively over many years. Warren Buffett talked about compounding small gains over many years as being like a snowball which gathers more and more wealth over many decades.

Post: #2

From a pure mathematical standpoint, it's stupid to play it.

It probably also tricks your body into having "lottery thoughts," that is, some belief that success and money will magically appear. Make make you lazier. That's just speculation, but sounds right to me.

That said, I play the big jackpots.

What's a movie ticket cost?

I get a lot of pleasure from a stupid little lottery ticket.

It's irrational, but a lot of things we do for pleasure aren't fully rational.

If it's' fun and not costing you that much money, what's the problem?

Post: #3

If you have money and you're bored sure.

Remember this phrase: "Lotteries are taxes on the poor"

Never play if you are poor. The poor don't pay taxes.

Post: #4

Lottery is tax for the poor. It's simply organized racketeering.

Post: #5

I just think a good life should also include a shot an attempt at massive wealth.

The best ways are to invest early in companies that might be the next Google or Microsoft. Or to try and patent an idea that might make alot of money. Or try and write a hit song/book/film.

Or - at the very least - buying a lottery ticket.

I think you should have at leat one iron in the stove which might help you hit the jackpot. There is something a little depressing in the idea that even if you lived to be a million years old - you still wouldn't hit it big since you don't have had any attempts at making a super amount of money.

More and more - that is how I am starting to think.

Post: #6

Cardguy how many people do you know that won the lottery?

Post: #7

(11-04-2013 03:39 PM)MidniteSpecial Wrote:  Cardguy how many people do you know that won the lottery?

I have a relative that buys one big ticket a week and his hit several times over the years. They've well covered the $104 per year spent.

Post: #8

I know one 'friend of a friend' who won the lottery. A car mechanic at the place my mum gets her car fixed also won the lottery.

And a friend at work tells me she puts the same numbers on each week. Except one week when she forgot. And that was the week her numbers came up.

Although I find that last story too unbelievable to believe (but who knows? - also she is one of the most sensible, honest people I know).

Post: #9

(11-04-2013 03:43 PM)Aliblahba Wrote:  

(11-04-2013 03:39 PM)MidniteSpecial Wrote:  Cardguy how many people do you know that won the lottery?

I have a relative that buys one big ticket a week and his hit several times over the years. They've well covered the $104 per year spent.

My grandparents hit 5 of 6 numbers and won 6 grand or so. Paid for their weekly habit of $2 tickets.

As a kid, used to play $10 in scratch off tickets with my old man ($5 each). I won $1,000 once.

It was a fun tradition and something we looked forward to.

I understand quite well the logic against playing the lottery.

But it's fun.

It's only a "tax on the poor" if you can't afford it.

A real tax on the poor is Starbucks.

$5 for coffee/latte drinks a day? At least with the lottery you have a chance of making some money back.

Post: #10

Cardguy I am going to be blunt and you can ignore this but if that is the way your mind is shifting to make money. You are developing a poverty mindset.

Poor people believe luck is the way to making it big.

Play for entertainment purposes a few times a year, throw a G on the table at Vegas for fun etc.

If you think it's your shot at wealth you will never be rich.

Ask around and find well off people and you'll find a similar line of thinking.

Maybe kick a vice say you drink 1 less beer a week that's $3. Then buy 1 ticket a week. Win win. You save more and you get to have the fun rush.

Do not spend it just to spend it. That's how you go broke constantly waiting for your "big moment".

Post: #11

I'm talking jackpot guys.

I've won hundreds before too.

I even have a friend who won 10 grand. I don't care about that.

I'm talking comfortably rich.

Post: #12

Ill throw down a couple bucks once in a while.

The true "stupid tax"- starbucks, movie tickets, SWPL restaurants, parking tickets, drinks at clubs/bars, smartphones, data plans, status acessories.

Eliminate those and you'll likely be rich in a decade. =)

Post: #13

@midnite funny story?

My dad hit $700K when I was 5 years old.

The result? He fucked it all up, drunk driving hit a cop car, got law suits when he tried to run a "real estate business".

Result for me? Poverty level income in the house for a decade.

Yeah dumb people don't have money for a reason.

Best part is the fucker told me growing up not to have an "ego". LOL

Dude quit his job pissed on $700K, went to jail and basically ruined our entire household. Yeah i'mma listen to you real good pops rofl.


Anyway, as soon I see someone defending the lottery I ask of they can afford to play, legitimately, can this guy go 10-20 years without working? If not?

Nod and smile, nod and smile.

Post: #14

(11-04-2013 03:49 PM)MikeCF Wrote:  

(11-04-2013 03:43 PM)Aliblahba Wrote:  

(11-04-2013 03:39 PM)MidniteSpecial Wrote:  Cardguy how many people do you know that won the lottery?

I have a relative that buys one big ticket a week and his hit several times over the years. They've well covered the $104 per year spent.

My grandparents hit 5 of 6 numbers and won 6 grand or so. Paid for their weekly habit of $2 tickets.

As a kid, used to play $10 in scratch off tickets with my old man ($5 each). I won $1,000 once.

It was a fun tradition and something we looked forward to.

I understand quite well the logic against playing the lottery.

But it's fun.

It's only a "tax on the poor" if you can't afford it.

A real tax on the poor is Starbucks.

$5 for coffee/latte drinks a day? At least with the lottery you have a chance of making some money back.

You can't win if you don't play. Just because the odds are stacked against you doesn't mean you just give up. What about submitting an application to Lockheed Martin? They get 1M resumes a year. Why even bother? Because if you let just the odds themselves deter you, then you've already lost at everything in life.

For the record, LM has wanted to hire me, so fuck the odds.

Post: #15

I used to contribute to the communal lottery group at a former workplace. It wasn't because I thought we'd win. But if they had won and I missed out on a multimillion dollar cut, it would have been emotionally devastating. An occasional two dollars seemed like a reasonable hedge against a low-probability, high-impact event. Plus, it had the added benefit of increasing rapport with my colleagues.

Post: #16

^ haha that shit is the worst.

You have to contribute to look like you're cool with the social vibe of the office. Chalk it up to the masses, had to do that back when I worked in college.

Now, in my current role, we have that come up and all the secretaries jump in and all the front office guys in the office just ignore them. Kinda funny.

Surprise surprise the dudes making $1m don't care and all the secretaries want to chip in $10 each. If that's not a tell tale sign.

Post: #17

I play the big jackpots, not because I think I'm going to win, but because it's fun to imagine what I would do I did.

Gambling is a personal thing. Some people can't handle the emotional ups and downs of winning and losing money. Those people turn into addicts and they're forever chasing that desperate feeling of having everything on the line. They shouldn't gamble.

I look at gambling as entertainment, like seeing a movie or a ball game. I expect to lose a few dollars and have some fun. If I win, I cut myself off early and walk away up.

Post: #18

Westcoast I feel you.

I won 10gs betting football one year. I would bet $500 a game and take all underdogs. I had a sick run.

I thought I was going to get rich from gambling sports.
It was the most cash I had ever held in my hand.

I would get bottles in the club. Tip people way to much. Flash the money around. Bought expensive clothes.

Two weeks later basketball season started I lost the 10 plus 10 more that I did not have.

It was misery. Had to borrow money from relatives and take out a personal loan.

Post: #19

Messed up part is I'm still good at picking football.

Told my boy to put $500 on jets +7 yesterday and they ended up winning outright.

It's all about situations. Look aheads, let downs, coming off a bye week etc.

Post: #20

Yep.

Chit chatting with MikeCF offline he dropped this.

"They say that if you divided all the money in the world up evenly, the poor would be poor again and the rich would be rich again.

Clearly luck matters but there's a lot of truth to that."

Basically, you are a producer or you are a consumer every day. When you're buying a lottery ticket make no mistake you are consuming at that point.

The most annoying is when someone with no money tries to justify gambling to you. Never never argue with them. Nod and smile. Always. Nod and smile.

"We should hang out again sometime"

Drop contact.

If you're actually good, sports betting odds are in your favor because people get attached to specific teams so bet a few bucks a year on that. Hell I bet from time to time I went all in on the heat winning last year. Have fun with it just realize you are not playing to win you are simply buying to watch an event go down. Entertainment

Post: #21

Yup. I'm reading 'how to get rich' right now by Felix Dennis. That's the bulk of what he's talked about so far.

Post: #22

Disclosure purposes I take $1500 each year. So I do spend for entertainment.

That is the most I can spend on gambling in a year.

If I win or lose I don't bet more than that set amount each year.

So I can't tell you if I am up or down over 5 years. It's just for fun. Once I laid out $1500 for the full year I can't gamble anymore regardless of if I won money.

Post: #23

If I go to Atlantic city I bring $100-$500 cash and leave my debit card at home.

I usually play poker because I feel it's easier to win for me and I've had some success.

I will play powerball few times a year and try to visualize the winning numbers. I also visualize myself winning, screaming running down the street. Getting a mansion and a range rover. Haha. It hasn't worked yet.

Post: #24

Why don't you try and play the stock lottery game? At least your odds of netting a higher rate of return are better.

That's like hoping you'll make it big playing slots. The house is stacked against you.

Post: #25

When I go to my local corner store the same guy is always in there spending his entire pay checks on scratch offs. He is my friends dad too. It's sad really. That's what I was more referring to.