Does anyone ever get tempted to gamble or play the lottery?

Discussion in 'Wealth Creation & Management' started by rara200284, Jan 21, 2015.

  1. rara200284

    rara200284 Member

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    Last month I was playing the California lottery a lot. I just imagine winning all that money. Our country makes a lot of revenue just from gambling entries. I always think of making it big.
    And sometimes, I read stuff about how money really needs to be earned by working smarter. I think of the speech in Atlas Shrugged by Aynn Rand about the Root of Money. I can't imagine really even being middle class at the moment so The Lottery becomes very appealing.

    What are your guys' experience about playing the lottery or just gambling?

    I really think about gambling $20 away and then think that I can buy 1oz of silver if I don't which would be a smart investment that isn't working against me.
     
  2. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    I get given lotto scratchies at Christmas, I would rather have the money.

    Sure they can be fun but generally they are a disappointment.

    Over Christmas I won about $45, I could have been a millionaire a couple of times over but as it was I made back less than the cost of the scratchies.

    I played in the the first UK lottery, as did just about everyone else in the UK. Paid my 1 and bought a ticket, won 10, figured I was never going to have to work again, just buy tickets every week. Sadly this story does not have a happy ending.

    Anyway other than joining the work's lottery (It would suck to be the only one turning up for work on a Monday following the big jackpot) I haven't played and now I don't even put into that.

    We once took all out lottery winnings, which were too small to bother dividing up between the syndicate members and we bought 40 scratchies, with the winnings from them we bought 3 scratchies and that's where we stopped.

    However if you ask my mate Dave, he would say to do the lottery, always buy a scratchie when you go into the newsagent and never pass a pokie without putting some money in it, Dave is broke but ever hopeful.
     
  3. smk762

    smk762 Active Member Silver Stacker

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    I used to bet on sports, and spend a lot of time researching advanced stats and other media to get an edge. Figured it was equal in added entertainment value as a few drinks during the game.
    Never play the lotto, I call it the hope tax.

    About a year ago I figured it was better to research companies and commodities, and gamble in the market. The game lasts longer, and you usually don't lose all of your outlay if it's a bad bet and the spot or share price drops. At worst you lose your money more slowly than betting on sports.

    PMs are my fave because even if the value drops, I'm still left with something tangible, and as long as I'm not forced to sell at a loss I'm confident the value will be restored as the game goes on.
     
  4. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    We used to call it a tax on the stupid, or a tax on people who can't do maths. Not as catchy as yours!
     
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  5. House

    House Administrator Staff Member

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    Played $50 a week for 2 months and tracked winnings. Made $35 more so not a bad result considering. Would have wasted the cash on beer anyway.
     
  6. smk762

    smk762 Active Member Silver Stacker

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    Way I see it, is if they all win and get rich, there will be plenty more of chances of a promotion. Another reason I don't play is that I fear the effect of that much unearned cash, and would likely be dead in a week.
    I enjoy writing up the balance of the work lotto syndicate each week, just to remind them that "winning" $100 off a $200 outlay is actually a $100 loss.
     
  7. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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    While I've done a bit of sports betting for the sake of making a game more interesting, it's never between more than about a $20 and I'm not concerned if I lose. I've never bought a lottery ticket, scratchie or played a pokie in my life. My mindset is if there were anyway to "beat the system" the system wouldn't exist in the first place.
     
  8. Silver Soul

    Silver Soul Well-Known Member Silver Stacker

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    We have a lotto syndicate on Silver Stackers sometimes! We never win :lol:
     
  9. silverprepper999

    silverprepper999 New Member

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    did played european roullete online - demo, not for money. always won, but never did for real money :D you play smallest ammount only on color, if you win, good, play again. if you loose, double on the same color, if you win you recover and gain, if you loose, double it again, you must win eventually on that color and gain profit if you double it again and again. :D didnt trust casino with real money I didnt believe they would pay me out.
     
  10. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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    You're talking about the martingale system. Eventually you run into the table limit which stops you from doubling your bet
     
  11. SilverDJ

    SilverDJ Well-Known Member

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    People who say that entirely miss the point of buying the lotto.
    You aren't buying the odds (which are stupidly high of course), you are buying the right to dream, knowing that you could win it and what you'd do with it.
    If you aren't in it, then you can't genuinely dream about it, because it is precisely zero possibility for you.
    People win the lotto almost every week in this country, it's a very remote but still a very real possibility, enough to want to buy into the dream.
    I knew someone at work who won it, a production worker winning minimum wage. It happens.
     
  12. SilverDJ

    SilverDJ Well-Known Member

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    Tell that to the dozens who win it every year.
     
  13. smk762

    smk762 Active Member Silver Stacker

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  14. smk762

    smk762 Active Member Silver Stacker

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    Only works with an unlimited bankroll and no bet limit. I built a roulette odds calculator and tested it with online demos to maximise return and minimise house edge using advanced stats. Best I could do was cut the house edge in half, but on balance it still wins. I did all this to get over dropping $200 in 20 minutes one night. After doing all the maths, I realised I'd need at least a $2000 bankroll to stay in long enough for the system to work and it had about a 20% fail rate. I've never played since.

    Aren't "hope" and "dream" synonyms?
     
  15. errol43

    errol43 New Member Silver Stacker

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    To win at gambling, you have to be taught by a pro.

    1st tip horse racing.. never bet even stakes. start small, increase your bets.

    Regards Errol 43
     
  16. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    I play lotto etc when prize is >$20mil because I like to dream. I prefer jackpot lotteries, because the odds are better and I won't have to share the prize.
    I do OK with sports betting on WRC. ;)
    I don't play pokies or roulette - to wise now. However, the first coin I ever put in a pokie won me the jackpot when I was 18 .... That was nearly dangerous.
    Love online poker for real cash.
     
  17. SilverDJ

    SilverDJ Well-Known Member

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    Yes, the standard million doesn't even come close to cutting it any more. Can barely even buy the average Sydney suburban home.
     
  18. Caput Lupinum

    Caput Lupinum Active Member Silver Stacker

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    Dozens vs how many that play? Of course if no one won then there would be no point. I'd rather invest in something like aristocrat or tabcorp holdings
     
  19. willrocks

    willrocks Well-Known Member Silver Stacker

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    If you want to make a small fortune gambling ... Start with a big fortune.
     
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  20. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Woo Hoo, chief shelf stacker! At the time I was on the night restack, (24 hour supermarket) it was a cool job but if they wanted any talent they brought it in from other stores :)
     

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