52 posts / 0 new
Last post
BIGBERNARDBRESSLAW's picture
Offline
Last seen: 22 hours 54 min ago
Joined: 20/10/2010 - 19:33
Posts: 5793
RE: Do You Play Lotto Or Euromillions?

professorhat wrote:

gel wrote:

I gave up for about a year but have just started again.   I costs me £8 a week to play Lotto and Euromilllions, that is £32 a month!  I think that is a bit crazy but I think I might continue to do it.  

It's definitely more than a bit crazy gel. The chances of winning are ludicrous - even if you spent all £8 a week on just the Lotto (which has far and away the better chance of winning the jackpot), that still means odds of 1,747,977 to 1 as a chance of winning. You're actually more likely to be struck by lightning than winning the lottery.

If on the other hand, you put the £32 in an ISA or some such each month, at the end of the year, you'd be guaranteed to have about £400 (including interest). Each and every year.

But surely the reason people do the lottery is change their lives, otherwise, why do it?

£400 a year is not going to change anyones life is it, it's a large gas bill, or a weekend away for your family. 

I'd rather risk losing £400 a year in the very very slight chance of winning a load of money. I spend more than I should on the lottery, but I'm actually probably a bit ahead thanks to winning £450 3 times in 2 months when I did the Hotpicks, and loads of £10 wins. 

I don't ever expect to win as it's so unlikely, but someone wins every week, and I've got the same chance as that person.

Lounge: Panasonic TX-P50GT50 / Yamaha RX-A2020 / Panasonic DMP-BDT110 / Dali Zensor 3 / Dali Zensor Vokal / Mordaunt Short MS20i Pearl Edition / Roksan Radius 5.2 / WDTV My Book Live / Seagate Expansion / Sky HD Box 

gel's picture
Online
Last seen: 11 min 11 sec ago
Joined: 22/11/2008 - 19:22
Posts: 13733
RE: Do You Play Lotto Or Euromillions?

I did scope £3 on Euromillions last night!  I was hoping for a lot more when I got the email but not a bad start.  I have knocked £3 of the monthly bill.  Part of me still thinks it's crazy the other half thinks I should be in it.

Home cinema system: LG 55EA980W OLED TV,  Pioneer Bdp-lx71, Pioneer Vsx-lx70, B&W FPM Series, B&W PV1.

Gadgets: iPad 2 and iPhone 4s. Dab radio: Roberts Dreamtime.

 

BIGBERNARDBRESSLAW's picture
Offline
Last seen: 22 hours 54 min ago
Joined: 20/10/2010 - 19:33
Posts: 5793
RE: Do You Play Lotto Or Euromillions?

gel wrote:

I did scope £3 on Euromillions last night!  I was hoping for a lot more when I got the email but not a bad start.  I have knocked £3 of the monthly bill.  Part of me still thinks it's crazy the other half thinks I should be in it.

I stopped doing the Euro lottery, as the prize distribution is ridiculous. Anything less than 4 numbers and 2 stars is hardly worth having, and the excessive jackpots of over a hundred million are just too high. One week I won on two lines of the Euro lottery, and it addes up to £4.60 or something, that was the last week I did it. 

Lounge: Panasonic TX-P50GT50 / Yamaha RX-A2020 / Panasonic DMP-BDT110 / Dali Zensor 3 / Dali Zensor Vokal / Mordaunt Short MS20i Pearl Edition / Roksan Radius 5.2 / WDTV My Book Live / Seagate Expansion / Sky HD Box 

gel's picture
Online
Last seen: 11 min 11 sec ago
Joined: 22/11/2008 - 19:22
Posts: 13733
RE: Do You Play Lotto Or Euromillions?

BIGBERNARDBRESSLAW wrote:

gel wrote:

I did scope £3 on Euromillions last night!  I was hoping for a lot more when I got the email but not a bad start.  I have knocked £3 of the monthly bill.  Part of me still thinks it's crazy the other half thinks I should be in it.

I stopped doing the Euro lottery, as the prize distribution is ridiculous. Anything less than 4 numbers and 2 stars is hardly worth having, and the excessive jackpots of over a hundred million are just too high. One week I won on two lines of the Euro lottery, and it addes up to £4.60 or something, that was the last week I did it. 

 

I had forgotton you could win so little, I was expecting a tenner at least!   :doh:

Home cinema system: LG 55EA980W OLED TV,  Pioneer Bdp-lx71, Pioneer Vsx-lx70, B&W FPM Series, B&W PV1.

Gadgets: iPad 2 and iPhone 4s. Dab radio: Roberts Dreamtime.

 

BIGBERNARDBRESSLAW's picture
Offline
Last seen: 22 hours 54 min ago
Joined: 20/10/2010 - 19:33
Posts: 5793
RE: Do You Play Lotto Or Euromillions?

gel wrote:

BIGBERNARDBRESSLAW wrote:

gel wrote:

I did scope £3 on Euromillions last night!  I was hoping for a lot more when I got the email but not a bad start.  I have knocked £3 of the monthly bill.  Part of me still thinks it's crazy the other half thinks I should be in it.

I stopped doing the Euro lottery, as the prize distribution is ridiculous. Anything less than 4 numbers and 2 stars is hardly worth having, and the excessive jackpots of over a hundred million are just too high. One week I won on two lines of the Euro lottery, and it addes up to £4.60 or something, that was the last week I did it. 

I had forgotton you could win so little, I was expecting a tenner at least!   :doh:

I never won more than £6 on the Euro lottery in one go, the main lottery around £50 was the maximum prize, it's only the hotpicks where I've significantly gained, but I stopped doing that because you can't win life changing amounts doing it.

Lounge: Panasonic TX-P50GT50 / Yamaha RX-A2020 / Panasonic DMP-BDT110 / Dali Zensor 3 / Dali Zensor Vokal / Mordaunt Short MS20i Pearl Edition / Roksan Radius 5.2 / WDTV My Book Live / Seagate Expansion / Sky HD Box 

plastic penguin's picture
Online
Last seen: 59 sec ago
Joined: 28/04/2008 - 10:56
Posts: 16843
RE: Do You Play Lotto Or Euromillions?

The_Lhc wrote:

plastic penguin wrote:

BIGBERNARDBRESSLAW wrote:

chebby wrote:

Why do these people agree to the publicity?

And why do they stay in the same house? 

Ooooh, I've won £158 million, but you know what, I'm going to stay in my ex-council semi.  :doh:

If I had won X millions I'd buy the house from the council/landlord and just rent the thing out.

What would be the point? If you've just won £158 million quid why would you be worried about getting another £500 a month?

Easy: give up your job, countless holidays abroad (Villa somewhere or buy the 'Isle of McTavish' for a few million), one needs to have an outside interest.

Amp; CDP; Turntable; Tuner; Speakers

Alec's picture
Offline
Last seen: 20 hours 56 min ago
Joined: 08/10/2007 - 21:06
Posts: 6109
RE: Do You Play Lotto Or Euromillions?

gel wrote:

I did scope £3 on Euromillions last night!  I was hoping for a lot more when I got the email but not a bad start.  I have knocked £3 of the monthly bill.  Part of me still thinks it's crazy the other half thinks I should be in it.

 

I won £9, plus a few pence. Yeah, you heard me. Went straight back on the next drawer, and an instant win (which I almost instantly lost).

 

EDIT - and I'm with BBB.

gel's picture
Online
Last seen: 11 min 11 sec ago
Joined: 22/11/2008 - 19:22
Posts: 13733
RE: Do You Play Lotto Or Euromillions?

Alec wrote:

gel wrote:

I did scope £3 on Euromillions last night!  I was hoping for a lot more when I got the email but not a bad start.  I have knocked £3 of the monthly bill.  Part of me still thinks it's crazy the other half thinks I should be in it.

 

I won £9, plus a few pence. Yeah, you heard me. Went straight back on the next drawer, and an instant win (which I almost instantly lost).

 

EDIT - and I'm with BBB.

 

Smile    I did try Monopoly on there the other day but failed epically at that too!  Yeah, my winnings will be going straight back in.

Home cinema system: LG 55EA980W OLED TV,  Pioneer Bdp-lx71, Pioneer Vsx-lx70, B&W FPM Series, B&W PV1.

Gadgets: iPad 2 and iPhone 4s. Dab radio: Roberts Dreamtime.

 

BIGBERNARDBRESSLAW's picture
Offline
Last seen: 22 hours 54 min ago
Joined: 20/10/2010 - 19:33
Posts: 5793
RE: Do You Play Lotto Or Euromillions?

gel wrote:

Yeah, my winnings will be going straight back in.

Steady though gel, you could stick that £3 in an ISA, and by this time next year it'll be worth £3.02.  Wink

Lounge: Panasonic TX-P50GT50 / Yamaha RX-A2020 / Panasonic DMP-BDT110 / Dali Zensor 3 / Dali Zensor Vokal / Mordaunt Short MS20i Pearl Edition / Roksan Radius 5.2 / WDTV My Book Live / Seagate Expansion / Sky HD Box 

professorhat's picture
Offline
Last seen: 1 week 2 days ago
Joined: 28/12/2007 - 11:34
Posts: 11033
RE: Do You Play Lotto Or Euromillions?

BIGBERNARDBRESSLAW wrote:

But surely the reason people do the lottery is change their lives, otherwise, why do it?

£400 a year is not going to change anyones life is it, it's a large gas bill, or a weekend away for your family. 

I'd rather risk losing £400 a year in the very very slight chance of winning a load of money. I spend more than I should on the lottery, but I'm actually probably a bit ahead thanks to winning £450 3 times in 2 months when I did the Hotpicks, and loads of £10 wins. 

Fair enough, I'm just explaining that you have more chance of being struck by lightning than you do of winning the lottery, even if you buy 8 tickets every week - that's a simple statistical fact. Never mind being run over by a bus, or killed in a car accident - almost a certainty compared with a lottery win. See this article for more info on it - if you buy one ticket a week, you will win once every 270,000 years. If you were given that chance of anything else, you'd probably tell them where to go.

Personally I've no idea why people do it given this, but each to their own. However, if you're struggling to pay for other things as some people are, then I would argue playing the lottery is certainly crazy, spending money that will almost certainly be wasted which could otherwise be spent on more vital things. Even if you can afford it, I'd still much rather have one extra guaranteed weekend away with my family each year instead of a tiny, so small and minuscule so as to be actually considered impossible by a statistician chance of perhaps winning a lot of money.

You may be ahead at the moment, but if you keep ploughing money into it, you eventually won't be - this is the same of all gambling, otherwise the bookies would all be out of business. (NB - clearly there are some examples of professional gamblers who can actually make a living out of it, mostly by being either very informed and not betting like a standard gambler would, or actually having a skill that you can use to beat someone with. Playing the lottery certainly doesn't fall into either camp).

BIGBERNARDBRESSLAW wrote:

I don't ever expect to win as it's so unlikely, but someone wins every week, and I've got the same chance as that person.

Someone doesn't win the main prize every week, someone wins it if they choose all the correct numbers.

 

The owls are not what they seem...

bigboss's picture
Online
Last seen: 1 hour 1 min ago
Joined: 25/03/2009 - 21:40
Posts: 13527
RE: Do You Play Lotto Or Euromillions?

professorhat wrote:

BenLaw wrote:

professorhat wrote:

gel wrote:

I gave up for about a year but have just started again.   I costs me £8 a week to play Lotto and Euromilllions, that is £32 a month!  I think that is a bit crazy but I think I might continue to do it.  

It's definitely more than a bit crazy gel. The chances of winning are ludicrous - even if you spent all £8 a week on just the Lotto (which has far and away the better chance of winning the jackpot), that still means odds of 1,747,977 to 1 as a chance of winning. You're actually more likely to be struck by lightning than winning the lottery.

If on the other hand, you put the £32 in an ISA or some such each month, at the end of the year, you'd be guaranteed to have about £400 (including interest). Each and every year.

 

4.1% interest on an ISA? Now who's crazy?!

Wihout any interest, you'd have £384 (in my mind that relates to "about £400"). So even if you only got 2%, that would be nigh on £388.19 with interest.

Quibbling over pounds and pence aside, the point obviously being it's most likely more than you'd ever get "investing" in Lotto tickets.

 

Ooooh......gel can buy a blu ray player or an iPad every year!!  Blum 3

Edit: Just noticed gel has already thought of that!  :doh:

BenLaw's picture
Offline
Last seen: 7 hours 36 min ago
Joined: 21/11/2010 - 20:21
Posts: 6431
RE: Do You Play Lotto Or Euromillions?

bigboss wrote:

professorhat wrote:

BenLaw wrote:

professorhat wrote:

gel wrote:

I gave up for about a year but have just started again.   I costs me £8 a week to play Lotto and Euromilllions, that is £32 a month!  I think that is a bit crazy but I think I might continue to do it.  

It's definitely more than a bit crazy gel. The chances of winning are ludicrous - even if you spent all £8 a week on just the Lotto (which has far and away the better chance of winning the jackpot), that still means odds of 1,747,977 to 1 as a chance of winning. You're actually more likely to be struck by lightning than winning the lottery.

If on the other hand, you put the £32 in an ISA or some such each month, at the end of the year, you'd be guaranteed to have about £400 (including interest). Each and every year.

 

4.1% interest on an ISA? Now who's crazy?!

Wihout any interest, you'd have £384 (in my mind that relates to "about £400"). So even if you only got 2%, that would be nigh on £388.19 with interest.

Quibbling over pounds and pence aside, the point obviously being it's most likely more than you'd ever get "investing" in Lotto tickets.

 

Ooooh......gel can buy a blu ray player or an iPad every year!!  Blum 3

Edit: Just noticed gel has already thought of that!  :doh:

 

I find this confusing, as far as I can tell gel already *does* buy a new iPad *and* a new BDP every year. 

BIGBERNARDBRESSLAW's picture
Offline
Last seen: 22 hours 54 min ago
Joined: 20/10/2010 - 19:33
Posts: 5793
RE: Do You Play Lotto Or Euromillions?

BenLaw wrote:

I find this confusing, as far as I can tell gel already *does* buy a new iPad *and* a new BDP every year. 

He could pair them up like he does with his wallets and cameras,  :grin:

Lounge: Panasonic TX-P50GT50 / Yamaha RX-A2020 / Panasonic DMP-BDT110 / Dali Zensor 3 / Dali Zensor Vokal / Mordaunt Short MS20i Pearl Edition / Roksan Radius 5.2 / WDTV My Book Live / Seagate Expansion / Sky HD Box 

BenLaw's picture
Offline
Last seen: 7 hours 36 min ago
Joined: 21/11/2010 - 20:21
Posts: 6431
RE: Do You Play Lotto Or Euromillions?

And rock posters. 

The_Lhc's picture
Offline
Last seen: 5 hours 23 min ago
Joined: 16/10/2008 - 13:23
Posts: 13103
RE: Do You Play Lotto Or Euromillions?

plastic penguin wrote:

The_Lhc wrote:

plastic penguin wrote:

BIGBERNARDBRESSLAW wrote:

chebby wrote:

Why do these people agree to the publicity?

And why do they stay in the same house? 

Ooooh, I've won £158 million, but you know what, I'm going to stay in my ex-council semi.  :doh:

If I had won X millions I'd buy the house from the council/landlord and just rent the thing out.

What would be the point? If you've just won £158 million quid why would you be worried about getting another £500 a month?

Easy: give up your job, countless holidays abroad (Villa somewhere or buy the 'Isle of McTavish' for a few million), one needs to have an outside interest.

Sorry, are we still having the same conversation? I don't see any connection between my question and your answer, unless you're suggesting that renting out a property is an outside interest? I can tell from my son-in-law's experience that it's nothing more than a pain in the backside usually. I just don't see why with that sort of money in the bank why anyone would be bothered renting out an ex-council house.

Pages

Log in or register to post comments