There is no, statistically, better investment than one of these

CodeBuns
CodeBuns

There is no, statistically, better investment than one of these.

All urls found in this thread:
http://www.businessinsider.com/powerball-lottery-expected-value-2016-1
Booteefool
Booteefool

@CodeBuns
What about Pets.com?

Boy_vs_Girl
Boy_vs_Girl

@CodeBuns
There is no, statistically, better investment than one of these.

Ethereum and Trumpcoin comes to mind.

Gigastrength
Gigastrength

Things poor people say thread?

Carnalpleasure
Carnalpleasure

Probably more a question for /sci/ but if you took a large pile of cash (say, a billion $1s) and threw a Molotov cocktail on top, by the the time the fire ran its course would you be left with more or less money than if you used it all to buy powerball tickets?

Emberfire
Emberfire

@Carnalpleasure

I believe it would depend on how the cash was arranged.

Flameblow
Flameblow

@Gigastrength
I'm going to get rich daytrading with Robinhood

TechHater
TechHater

Might as well buy one once in a while.

Here in Canada your at least competing with 30 million other people, rather than 300 million in the States. So you're bound to win eventually.

GoogleCat
GoogleCat

@Carnalpleasure
Less, you'd expect to have at least a few k if you bought powerball tickets.

Ignoramus
Ignoramus

@Gigastrength
you're bound to win eventually.

Soft_member
Soft_member

@Boy_vs_Girl
ETH is a mess

@Booteefool
OP, congratulations, youre a retard

SomethingNew
SomethingNew

@TechHater
1/30m chance
Bound to win

Maybe if they do a lottery every second or something

5mileys
5mileys

@Ignoramus

it's only a few dollars each week

Emberfire
Emberfire

@5mileys
you have to buy a lot of tickets if you really want to win

RavySnake
RavySnake

@TechHater
So you're bound to win eventually.
That's not how it works.
But the most bang you'll get for $3 is a powerball ticket.

JunkTop
JunkTop

@RavySnake
the most bang you'll get for $3 is a powerball ticket
you must not live in Detroit

New_Cliche
New_Cliche

@CodeBuns
i see you don't know what "statistically" means, because statistically, a lottery ticket is one of the worst investments you can make.

Sir_Gallonhead
Sir_Gallonhead

@New_Cliche
It's sarcasmmmmmmmmm

w8t4u
w8t4u

@Sir_Gallonhead
That isnt how sarcasm is spelled.

TechHater
TechHater

Generally, these are a waste of money. But in some rare cases, you can turn the odds in your favor. Popular and successful lotteries (like Mega Millions) modify the rules to make it harder to win, while unsuccessful ones modify the rules to make it easier (attracting more buyers). That's what happened with the Massachusetts and Michigan Cash WinFall games, and people made millions off of gaming the system (most famously a pool of MIT students).

So, yes, the games are "random," but it's a controlled randomness that has the potential be exploited by the buyer.

PurpleCharger
PurpleCharger

@TechHater
But to manipulate the games in a way that gives you an edge, you have to already have a decent amount of capital to begin with.

Fuzzy_Logic
Fuzzy_Logic

@New_Cliche
Actually, you're wrong. Statistically, a lottery ticket is proven to be the best investment one can make.

Raving_Cute
Raving_Cute

@PurpleCharger
That's true, and that's also why basically everyone who gamed the WinFall lotteries were groups of people and not just individuals.

And I'm not claiming it's the best way to make money. Just pointing out that there are exceptions to the assumptions we make.

girlDog
girlDog

@PurpleCharger
you have to already have a decent amount of capital to begin with
I hear this is true for everything except the stock market.

5mileys
5mileys

@Fuzzy_Logic
i hope you're only pretending to be retarded

@girlDog
fair point

the fuck is this gay bullshit captcha

Poker_Star
Poker_Star

@Emberfire

It helps pay for education

Methshot
Methshot

@5mileys
Classic, call me the retard when you run out of comebacks. Good job, kid.

Even Warren Buffett debunked this myth. He essentially said that it is scientifically proven that a lottery ticket is, statistically, the best investment.

Methnerd
Methnerd

@Methshot
you're going to have to cite that because math says it isn't brainlet.

Carnalpleasure
Carnalpleasure

@girlDog

That's doubly true for the stock market though

If the broker charges you a flat fee to buy and a flat fee to sell, plus paying the taxman, you have to have either enough gain or enough capital to make small gains worth it

Snarelure
Snarelure

@Methnerd
It's 2016. We live in a world where technology is at its peak, especially with Apple, the greatest piece of technology ever created.

And yet you are unable to do one simple Google search? A shame this generation, I tell ya.

Burnblaze
Burnblaze

@Methshot
http://www.businessinsider.com/powerball-lottery-expected-value-2016-1

Emberburn
Emberburn

@5mileys
fair point
Right?
Most of the successful traders and investors started right here, using free software.

Firespawn
Firespawn

@Snarelure
we live in a world where people are able to not be braindead apes, and yet here you are.

WebTool
WebTool

@Burnblaze
Business insider? You're going to have to do better than that pal.

I have Warren Buffet, you have a wannabe business site? Who's the winner here?

BlogWobbles
BlogWobbles

@WebTool
you sure you have warren buffett?

CouchChiller
CouchChiller

@Carnalpleasure
That's not what the people at Robinhood told me

VisualMaster
VisualMaster

@BlogWobbles
Fucking idiot. Next time learn to Google. I embarrassed you in front of everyone.

FastChef
FastChef

@VisualMaster
could you go back to /b/ and stop shitting up this already shitty board?

CodeBuns
CodeBuns

@FastChef
Classic. The "go back to /b/" meme when you are proven wrong.

Back to le Reddit you go.

Spamalot
Spamalot

@Carnalpleasure
depends if you blew your fat stack on the powerball tickets in one specific powerball, or on a small number of tickets in every powerball.

Theoretically speaking, there's nothing stopping you from spending all your money on powerball tickets in a single powerball, being careful to select all number combinations, thus guaranteeing you at least a share of the prize. Since there's somewhere in the neighborhood of 250 million possible combinations, if you were to do this for a jackpot larger than $250M, you'd be pretty much guaranteed to at least win something.

viagrandad
viagrandad

@Carnalpleasure
Well, must be lots of coins, so that the bottle will break, and i think the coins will remain, if gasoline or similar is used.
I mean, its painful to watch, when your cocktails just slowly runs out of the unbroken bottle, or even worse - you just taped the thing that lights it, and it is even slower...

idontknow
idontknow

@Spamalot
lol you could try this but so much of the jackpot goes to tax, and they're not gonna let you buy 250 million tickets.

TechHater
TechHater

@Spamalot
Tickets are $2, your reward is heavily taxed (30-40%), and you'd have to read through hundreds millions of tickets.

haveahappyday
haveahappyday

@idontknow
Why wouldn't they? They are guaranteed to make profit off of selling 250 million tickets if the powerball is 250 million and each ticket is more than a dollar? It's just free money

SniperWish
SniperWish

@haveahappyday

It's funny how well the lottery compounds on itself

The more poor people that buy into it, the higher it goes, and the higher it goes, the more poor people will buy into it

You pay sales tax on the ticket and your winnings are taxed

Only government could run a scam like this and not cause a revolt

Nojokur
Nojokur

@SniperWish
Lottos and casinos just boggle my mind

People pay you for the privilege of losing their money

I really don't know how you can lose money owning one. Literally the safest possible investment since you guarantee yourself an advantage

Stark_Naked
Stark_Naked

@Nojokur

There's a gas station right up the road that I go to for coffee a few times a week ($0.50 per cup) and there will always be people in line at 7 am buying lottery tickets before they go to work.

Most probably think that if they win, they won't have to go to work

Carnalpleasure
Carnalpleasure

@CodeBuns
you meant to say, risk/reward option.

And I assume you mean only at a certain high level of return and not 3 plays each time.

3 plays each time, 2x week is throwing away money.

1 play is all you need.

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