Did you get yours?
03-02-2009, 03:35 PM
#41
Registered User
Originally Posted by chairmnofthboard,Mar 2 2009, 11:05 AM
I never understood why people only play the lottery when it's super high. $1,000,000, $10,000,000 or $100,000,000 is still worth the $1 investment. 
odds are something like 1 in 44M
then again, the $1 is after-tax and a $44M would be pre-tax, so statistically, an $80M would be worth the $1. statistically speaking.
such is the case that you wouldn't pay $1 to win $1.50 on a coin flip.
03-02-2009, 03:37 PM
#43
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Originally Posted by jyeung528,Mar 2 2009, 04:35 PM
such is the case that you wouldn't pay $1 to win $1.50 on a coin flip.
03-02-2009, 03:41 PM
#44
Registered User
Originally Posted by thefin,Mar 2 2009, 12:21 PM
The lottery: a tax on those that don't understand math! thanks for playing.
someone that excels at math can still play the lottery if they wish to - has nothing to do with understanding math.
watch the response if you try telling this to the people that have hit the jackpot. they will laugh at you.
although chances are slim, with more tickets sold than the odds of winning, someone is likely going to take the jackpot.
since you understand math so well, let's put it this way. if they printed 44M tickets, one of which is rewarded Millions of dollars, would you want one? answer should be yes. now the question is, how much would you pay for one? statistically speaking, if the reward is over 44M, closer to 80M, it would make sense to pay $1 for a ticket.
sometimes the reward is less than 44M, sometimes more, but $1 is the static price to play.
If I win I can pay for my membership 