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whatisbro
11-08-2014, 12:45 PM
" Once again in the 25 years history of the Iowa Lottery, only 110 people were made millionaires, on average 4.4 per year. For the Iowa Lottery, the odds for winning $100,000 or more are better for sure (1089 winnings so far in 25 years) but the odds are still small. "

Source: http://talkingaboutnumbers.wordpress.com/2011/02/28/how-many-lottery-winners-are-there-in-a-year/

HELIX35
11-08-2014, 12:47 PM
Lottery is hard to win

2+2=4

grass is green




I don't get the point of this

nutsy54
11-08-2014, 12:51 PM
Lottery: A tax on people who don't understand probability and statistics :p

USAPump
11-08-2014, 12:59 PM
Lottery: A tax on people who don't understand probability and statistics :p

Tell that to all the people who have won.

Also tell the people who have been struck by lightning, attacked by sharks and those who have been in airplane crashes that no matter how small the odds are, it won't happen.

It's just one dollar. Any time I go to a gas station counter I get a ticket because why not? If you don't play the chance is zero, if you do play the chance exists no matter how impossibly small the odds are.

nutsy54
11-08-2014, 01:00 PM
It's just one dollar. Any time I go to a gas station counter I get a ticket because why not?
Then it's not "just one dollar", is it? ;)

My statement stands. By definition, there will be more losers than winners, and in the long term almost everyone will lose more than they win (Illinois lottery profit $17.5 Billion since 1974).

USAPump
11-08-2014, 01:06 PM
Then it's not "just one dollar", is it? ;)

My statement stands. By definition, there will be more losers than winners, and in the long term almost everyone will lose more than they win.

Of course. But it's barely anything that you will lose in your lifetime unless you're one of those people who spends an untold amount of money on tickets annually.

whatisbro
11-08-2014, 01:20 PM
Of course. But it's barely anything that you will lose in your lifetime unless you're one of those people who spends an untold amount of money on tickets annually.

How much have you spent?
How much did you make?
How long have you been playing?

NeoKantian
11-08-2014, 02:20 PM
So what's the point of this thread?

whatisbro
11-08-2014, 02:55 PM
So what's the point of this thread?

That's your decision to make.

NeoKantian
11-08-2014, 04:24 PM
That's your decision to make.
Except the whole blog post is kind of boring.

Yeah, usually when lotteries talk about "winners" it's not jackpot winners but instead winners in general. So the person that spends $2 for a ticket and wins $1,000 is considered a winner.

I also loled at the anarcho-cap/libertarian comment on the post. Further proof that that spam is everywhere on the internet.


By definition, there will be more losers than winners,...
No. It's not by definition unless there can only be one winner. Otherwise it's not ruled out that everyone buys the winning ticket.