Lottery company is currently doing private offers for investment and I've been asked if I want to drop $2500 to receive 1 lottery ticket per day as dividend (this costs them very little to do obviously)
With 1 free ticket per day and a daily draw at noon, with a jackpot of $200,000 p/w and usual odds (1:50 million), is this worthwhile?
>is this worthwhile?
you think they would do it if it were?
$2,500 from every employee is a big boost for the marketing budget, this is a small company.
The dividend they pay means virtually nothing to them. Out of the 8,000 something tickets bought per day, they only have to give out about 50 for free. This isn't a matter of if I think they're ripping me off or not, because it's win/win for both parties. It's a matter of whether free daily lottery tickets for the rest of my life is better than buying another btc or a bunch of eth.
Drop 2500 for something that has an expected value of 0.4 cents? It will take you just 1700 years to make that money back, go for it.
How did you calculate this? It's the sort of reply I was looking for. I've never found lottery tickets worth buying, but was wondering if it's a different story when they're free. $2500 is not a significant sum of cash to me right now, but it does dent my investment budget and could be better used elsewhere.
Note that they do allow direct debits fornightly instead of tickets, in which case the breakeven is after 5 years, not 1700. Is this on par for a small business entering round 2 of funding or underperforming?
You have 1 in 50000000 chance to make 200000 dollars, just divide 200000 by 50000000. A ticket thus yields 0.004 dollars.
Yea that's not how this works.
Alright, makes sense. I might put it into bitcoin instead, the value would only have to double over 5 years to outperform the lottery offer. Thanks.
Yes it does.
Lotteries are illegal other than state lotteries etc (uk fag) but looked into running a lottery myself and it's illegal unless for charitable causes
You mean... 1/50000000 * 200000 = worth of the ticket you fucktard.
They're legal in lots of places, but not as profitable as many people think.
You just wrote the same thing, re-arranged. I think the person in purple was trying to say it doesn't account for growth because 200k p/w is pitiful.
That is because lotteries are literally a scam to make people poor.
Op didn't specify if the company is profitable at all (let's get real, it probably isn't). His original 2500 will be gone.
(1-0.000002%)^(365*50) = 99.9635%
This is the chance of not(!) winning once in 50 years.
Dont do it.
holy shit! 4 tenths of a penny a day! OP jump on it RIGHT NOW
someone dropped out of middle school
They're not. They turn about $20,000 per week in profit despite operating revenue of over $750k in our worst month in the past year. They desperately need cash for growth and marketing, even $100k from employee private offers makes an enormous difference. I was offered the lowest investment package, for reference
Holy fuck.
Okay yeah good point.
Lottery is like a tax on the stoopid, some asshole even wrote a poem about it once.
Factor in his $2,500 investment in the lottery will lose 3% a year, it's a gay deal for stupid people.
This too, it's a bit of a risk, the lottery company may fart out into a cloud of gas, goodbye your $2,500 investment.
if he invested that money at say a conservative 6.5% return on average for 50yrs, because 50yrs is a long time and you should be able to get 6.5%, he'd end up with $46,050.39. Better yet, throw it in bitcoin, it could turn into $250,000 in 3yrs.
Bitcoin was the alternative, after seeing some of the responses, the lottery option seemed pretty insane. Thanks.
absolutely do it