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Bought a lottery ticket for the first time





likeabreeze
yeah, it turned out that I won 1 dollar...
better than none, anyway
rjraaz
Lottery is totally banned in my locality. And as I remembered, I never heard a single word about it from a single person in my locality.

But match fixing, gambling etc. are much popular here. Even school going kids are also batting for cricket matches which is really very bad but we can't help it.
cybersa
In my state also Lottery was banned completely.
But some peoples getting lottery from nearer state. ;(
rjraaz
cybersa wrote:
In my state also Lottery was banned completely.
But some peoples getting lottery from nearer state. ;(


Yes, Lottery is totally banned in 17 states of India while it is not banned to purchase lottery in remaining 12 states. But still there is some restriction in those states according to Lotteries Regulation Act, 1998.

It is most popular in West Bengal and Maharashtra as I have noticed during my last visit to these states few months ago.
Bluedoll
likeabreeze wrote:
yeah, it turned out that I won 1 dollar...
better than none, anyway
Let me guess, what you did with the dollar? Likeabreeze, you bought another ticket, right? Ok, quick calculation how much did you win?

1-1= _

Now lets add several zero's to the equation and go gambling at something with better odds. Say 10 to 1. We can bet all we have over a period of time and put the winnings away in our untouchable place. After this walk away and promise never to gamble again so that our winnings go to something .........else???
badai
i bought lottery ticket about 22 years ago and won $200. i was so happy and showed it to my mother. and she just grab the lottery ticket and tear it because she don't want me to get money from gambling.
likeabreeze
badai wrote:
i bought lottery ticket about 22 years ago and won $200. i was so happy and showed it to my mother. and she just grab the lottery ticket and tear it because she don't want me to get money from gambling.

Gambling?
Lottery is totally different from gambling.
Bluedoll
likeabreeze wrote:
badai wrote:
i bought lottery ticket about 22 years ago and won $200. i was so happy and showed it to my mother. and she just grab the lottery ticket and tear it because she don't want me to get money from gambling.

Gambling?
Lottery is totally different from gambling.

How is it not gambling. One good thing that loto does in my country is it is managed so that some profit goes to chartiable causes. This makes it appealing to some people. However I think fundamentally at least it is still gambling just as the Friday night bingo hall is gambling is I suppose?

I do see your point though if you consider that hard gambling can be very distructive. I know some people that use the horse races in the summer to dine out. If they win it is a free night. It is casual and pretty innocent.
likeabreeze
Bluedoll wrote:

How is it not gambling. One good thing that loto does in my country is it is managed so that some profit goes to chartiable causes. This makes it appealing to some people. However I think fundamentally at least it is still gambling just as the Friday night bingo hall is gambling is I suppose?

I do see your point though if you consider that hard gambling can be very distructive. I know some people that use the horse races in the summer to dine out. If they win it is a free night. It is casual and pretty innocent.

Well, I have to admit that there are so many folks addicted to lottery, some of who even went broke finally, so buying lottery is similar to gambling to some degree...
standready
A lottery is gambling. No doubt about it. You are betting the numbers you play will be drawn over others. Odds are not that great.
That said, I do play my state's lottery. At least the money I waste goes towards education and other programs. Who knows, I might get lucky one day???? laugh
Bluedoll
likeabreeze wrote:
Well, I have to admit that there are so many folks addicted to lottery, some of who even went broke finally, so buying lottery is similar to gambling to some degree...

I do suspect you are right on that though I was thinking that a lot of customers don't go broke they are broke. Laughing

Seriously, I see a lot of folks lined up to buy a ticket and they look like they don't have much money so it is "one last shot in the dark for them." Sad but true maybe! Not sure where all the money goes I know some goes to good causes while some goes to loto business I guess.

Life is a gamble and those that have lots of money gamble it all the time, only it is called investments.
deanhills
Bluedoll wrote:


Life is a gamble and those that have lots of money gamble it all the time, only it is called investments.
I don't agree, it is completely different. Closest to gambling would be mindless buying and selling of stocks on the basis of "hot tips" - popularly referred to as speculating. Investment takes into consideration calculated risk based on real research.
Bluedoll
True Dean though gambling is just that gambling I think I was trying to be funny by suggesting that poor people buy lotto tickets because that is all they can afford to do while rich people focus more on solid investments to acquire even more money.

It is possible though to look at gambling from the perspective of just taking chance though don’t you think so? Some investments that is any investment is risk taking to some degree and not all ventures are purely gold rated but very much a chance?
deanhills
Bluedoll wrote:
It is possible though to look at gambling from the perspective of just taking chance though don’t you think so?
True. Some people just go for the spur of the moment without doing research.
Bluedoll wrote:
Some investments that is any investment is risk taking to some degree and not all ventures are purely gold rated but very much a chance?
Agreed all investments have risk in their make-up, usually classed in Low Risk, Medium Risk and High Risk classes. Meaning those who are Low Risk have an 80% plus intolerance for risking their money, and investments need to be low risk to match the investor's tolerance levels. Those in a High Risk category would have a 20% and less intolerance for risking their money and would be able to go for more risky investments, however still of the calculated risk types. The Medium Risk category may have a 50% plus or minus aversion to risk. All of the risks are calculated risks and usually come with investments that have been calculated to belong to any of the three classes. Very little is left to chance in investment ventures. However investments always come with risk. Some people don't think what they do and may go for "quick get rich" or "hot tips" schemes, so I'd say that may count as gambling. They are not calculating the risk they are taking, nor doing their research.
dharmin
I was a big fan of lottery or any playwin lotto type of games...' But that was when i was young and foolish. Now that i think about it, i try to imagine what i could buy, if i had saved all that cash i wasted on lottries.

Ever since i was in high school, my friends and i used to buy these small lottery tickets whenever something lucky happened to us...like we didnt do our homework, and the teacher is absent...

Once one of my friends thought he had figured how to crack the code to this Lotto Playwin game of luck... It basically was just random two digit numbers that are selected every 15 minutes...
He thought he had found a pattern by looking at the previous few days rolls...he said he can predict the next number at atleast 90% success rate!
We also started to beleive it when we won a few games in a row.....Felt like those damn 21 movie guys!
But our joy was short lived and once our luck ran out, we created a losing streak in that shop like no one ever had!!!
That was the last time in my life that i bought a lottery ticket..
Bluedoll
What is really funny is someone selling a "make money by gambling" scheme. If it is possible why don't they do it?

Investments can be a game of chance even if they are a calculated risk. There is the stock market that can be fickle, a startup company where no one really knows where it will go even if the market analysis says it is good and then there are the big players. Large sums of monies that get exchanged everyday to countries that seem stable and always pay their debts promptly.

Personally, I've wondered in my lifetime, if I would have more chances gambling than working for not all jobs are successful in paying all the time. I am also referring to the fact that at any time termination of employment can be a reality in many seemly secure positions.

What are the odds, the predictability of what happens tomorrow?

Many thanks for your comments.
ocalhoun
deanhills wrote:
Investment takes into consideration calculated risk based on real research.


If the jackpot is high enough (I calculated the threshold to be $168 million for the south dakota powerball), a lottery ticket does become a valid investment.
The $1 ticket has a better than 1 in 168 million chance of winning 168 million, making it worth slightly more than $1.

While it's not a prudent investment for money you can't afford to lose (extremely high risk, extremely high gain), it is a valid investment for money you can afford to lose... and who can't afford to lose $1?
Bluedoll
ocalhoun wrote:
investment for money you can afford to lose... and who can't afford to lose $1?
Just can not do the math here! If you want to lose money then perhaps our favorite charity is the best bet. Now some people tell me that loto's do support stuff so I guess it could be considered charitable.

The odds though for me do not add up. Ten horses, if that the correct # in most races, run around the track. If you bet on one race, that is 1 in ten. Those odds seem better to me than loto's? I'm not sure what the min bet is though.

I know at the casino you can play on the roulette table, called by some the loser table. Laughing for one dollar.

But I do see how changing the math can work if you look at the winnings only. To get the same amount at something with less payout, like bingo you would have to be there every night for the rest of your life!
deanhills
ocalhoun wrote:
deanhills wrote:
Investment takes into consideration calculated risk based on real research.


If the jackpot is high enough (I calculated the threshold to be $168 million for the south dakota powerball), a lottery ticket does become a valid investment.
The $1 ticket has a better than 1 in 168 million chance of winning 168 million, making it worth slightly more than $1.

While it's not a prudent investment for money you can't afford to lose (extremely high risk, extremely high gain), it is a valid investment for money you can afford to lose... and who can't afford to lose $1?
I'm not a genius at math but am in total admiration of people who have the gift of math. It does look like a calculated risk too. So well done! Cool
grofet
Lottery is crime in my country. Lottery is gambling so its not allowed in all province in my country. Gambling is sin and can makes people addicted and live in misery. But gamblers still can do gambling (speculation) in stock, forex, kids game machine that give coin as prize, and many more. And also there are a lot of gambling website that not blocked and can be accessed by all people in my country including children. It's so pathetic right.
Bluedoll
grofet wrote:
Lottery is crime in my country. Lottery is gambling so its not allowed in all province in my country. Gambling is sin and can makes people addicted and live in misery. But gamblers still can do gambling (speculation) in stock, forex, kids game machine that give coin as prize, and many more. And also there are a lot of gambling website that not blocked and can be accessed by all people in my country including children. It's so pathetic right.
I do agree that gambling can be a very cruel addiction and destructive.

Very interesting and something I have not payed much attention too. It is so great when people share these things about where they live. Tell me I am interested in learning more about this. Lottery is illegal. What about bingo, horse racing or little things like a draw for something?

An example would be by a ticket at the door and win a prize, a new door. Laughing Would work maybe if the event was being put on by a home improvement commercial outfit. There are many contests and draws that commercial places do but I suppose they are not classified as gambling and certainly do not have the large payouts. Some you don't have to spend money to get into some you do.

In my city once a year they sell $100.00 tickets and the winner gets a nice house. All over the cost expenses of buying the house goes to the local children's hospital. In these cases people think lottery style events are a good thing.
grofet
I think online lottery is more dangerous than the traditional lottery since the lottery company can set the result and the profit just like online casino on the internet. Every lottery company want to have a big profit from the gamblers. They would not establish the company if it is only make them loosing money. So that's why i'm sure there are some trick to get a lot profit from the game.
Pippo90
likeabreeze wrote:
yeah, it turned out that I won 1 dollar...
better than none, anyway


Well, winning at the first time is not bad at all. You should continue to gain experience and earn more. Laughing
jajarvin
grofet wrote:
Lottery is crime in my country.


Here in Finland, only the State has the right to organize gambling activities.
Gaming profits are placed for the public good:
    youth work
    Culture
    music
    literature
    art
    sports
    contributions to associations


This is one way to handle the gammling problem
watersoul
I buy a £1 national state lottery ticket every week, although it increased to £2 last month after however many years it's been running.
Same numbers 6,8,25,27,46,48 for maybe 10 years now, Was having a Sunday lunch at a pub with a friend and my then very young son. My friend was flipping a coin and my lad got heads/tails correct about 15 times in a row so I got him to pick 6 numbers Smile

Never won the 6 number millions+ jackpot yet (obviously), but I have had a few £10 and £50 wins over the years so I'm just about breaking even. I don't really mind though, for such a small amount of money I get a weekly chance (however small) to imagine a millionaire lifestyle where I can ignore the morning alarm clock once in a while!
Blaster
Everytime I would come home from college I would pass this little gas station at my halfway point. I would stop in go to the bathroom and buy myself a lottery ticket. Every now and again I would also buy gas. Well I would put no more than a dollar into the machine and somehow some way I would always come out winning money. I did this several times once winning $20 on a dollar ticket. Can't beat that. At the time it would only cost me $40 to fill up, therefore it would be even less money I would have to spend to make the 3 hour drive home. Much worth it if you can keep with them odds.
Nyasro
yeah! i also won chess board when i bought lottery tickets for first time Very Happy
bukaida
The lottery and gambling gave birth to a very interesting branch of mathematics, called probability. Similarly Astrology was responsible for Astronomy and alchemists gave birth to chemistry. What I want to say is that every thing has something positive.
mattk71
The day I turned 18, I bought my first lotto scratcher and won $1 too! I remember getting three 7s. I kept that ticket for a long time, and I bet it is still in a drawer or box back at my parents house! lol
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