how much do you spend on lotto

superfish

ok I was just wondering how much people spend on the lotto per week and whats the most you have ever won. the reason I ask is because im considering giving it up, I spend 10 euro a week for the past 2 years and the most ive ever won is 5 euro and a free scratch card

ishvalian

€0, It's not called "Poor mans tax" for nothing.

A quick pick once every month or so, 30-40 a year.

I saw this quote somewhere once and its stuck in my mind, "The National lottery, a tax on stupidity!" It's quite correct when you think of the odds on even getting your stake back, let alone winning anything big.

Cybertron85

0€ it's a mugs game. Same as scratchcards and any other game of chance.

pajor

€3 quickpick if the jackpot is big ie. over €5 million

and €2 quickpick on euromillions sometimes, if I'm feeling adventurous

phasers

I do tellybingo with my Ma 3 times a week, more for a laugh than to win anything. I do alright though, one of us generally wins a fiver so we don't really spend much money.

Sunnyisland

I did spend 13 euro every week doing monday millions,euro & lotto draw Evey week, did that for at least 2 years never won nothing more than 10 euro,won a few 1 euro scratch cards,i lived in hope, dont do it now coped on to myself.

Princess Peach

I'm always saying what I'll do when I win the lotto.

I don't actually play it though :pac:

Jet Black

I do it with a couple of people in work. Pay 4euro a week, win at least 100per month which goes towards a night out. So the 4euro I could be pissing against a wall gets pissed against a wall anyway

bonerm

€0. I worked out the odds .... and let me drop a bombshell on you .... they're not in your favour.

Why not just get a good job and pay your taxes that way. Saves you a trip to the shops.

Jet Black

Captain Chaos wrote: »

I'd rather stick €10 a week in a jar and when crimbo comes around, buy pressies for everyone and f off somewhere nice for a month with whats left out of the €5,200.

10x52=5200?

superfish

I never actually though about how much I was spending on an annual basis 520 a year over the 2 years ive spent 1040 and won a 3 euro scratch card and a fiver in return. think its time to start putting that tenner in a jar lol

phasers

Captain Chaos wrote: »

I'd rather stick €10 a week in a jar and when crimbo comes around, buy pressies for everyone and f off somewhere nice for a month with whats left out of the €5,200.

Maybe you could buy a calculator

bonerm

Captain Chaos wrote: »

I'd rather stick €10 a week in a jar and when crimbo comes around, buy pressies for everyone and f off somewhere nice for a month with whats left out of the €5,200.

You defo shouldn't play the lotto.

superfish

bonerm wrote: »

€0. I worked out the odds .... and let me drop a bombshell on you .... they're not in your favour.

Why not just get a good job and pay your taxes that way. Saves you a trip to the shops.

lol I have a good job would not be able to afford to throw a tenner a week away if I was unemployed bit of a silly comment so you are implying every one who does lotto is a bum

Mike 1972

Ive never done the lotto or bought a scratchcard.

I pay enough tax as it is.

LETHAL LADY

I won €56 on the lotto last night with a €4 ticket so go on me.

fabbydabby

I don't understand the 'idiot tax' reference - I thought Lotto was tax free?

Anyway it's been shown that the Irish Lotto is one of the worst value lotteries in the world.

I'd do a 4 quid quick pick if the jackpot is jaycent, otherwise, no.

whiteonion

I never played the lotto.

thenutflush

Your odds of winning the lotto are 8,145,060 / 1.

But you need to do a minimum of two lines, so your odds of winning from one ticket are 4,072,530/`1.

Cost of ticket = 3 euro.

So the minimum jackpot the lotto needs to be to get the correct return for the odds is 12,217,590 euro.

Taking into account the chance you might have to split the prize if you won the jackpot when it was so large, and the fact that there are other smaller prizes you can win, I only do the lotto when it's about 8 million or more. After giving family members a decent share, that money would be probably halved anyway.

This means I only do it rarely, like 5 or 6 times a year.

Also, scratchcards are a scam, I have the odds from the national lottery to prove it.

Also, LETHAL LADY... the odds of getting 4 numbers like you did last night are 732 / 1 .... so from a 4 euro ticket, your fair prize should have been 2928 euro, not 56 euro.

http://www.lottoresults.ie/analysis

Sunnyisland

bonerm wrote: »

€0. I worked out the odds .... and let me drop a bombshell on you .... they're not in your favour.

Why not just get a good job and pay your taxes that way. Saves you a trip to the shops.

;)Nowdays Better chance of winning the lotto than getting a good job

Poor Craythur

Nadda.

Well, I think I've done it twice for huge jackpots. But every week? Fúck off!

fabbydabby

fabbydabby wrote: »

I don't understand the 'idiot tax' reference - I thought Lotto was tax free?

Anyway it's been shown that the Irish Lotto is one of the worst value lotteries in the world.

I'd do a 4 quid quick pick if the jackpot is jaycent, otherwise, no.

there you go

efb

Only the big ones stick €2 in a pool at work for the syndicate

thenutflush

The odds of winning the Monday millions are 1 in 3,262,623, and the prize is 1,000,000 euro, and the cost per line is 1 euro. I know it's a huge amount of money and that there are smaller prizes to compensate but it's hard not to see it as bad value. Although it is only 1 euro..

so the fair prize for the lotto jackpot is 12,217,590 euro
and the fair prize for the Monday millions is 3,262,623 euro

(12,217,590 / 3,262,623 = 3.745)

--> lotto is worse value than Monday millions when the jackpot is 3.745 million or less.

Just working this out for my own benefit folks!!..

phasers

Heh, the €5200 guy deleted his post even after 3 people quoted him.

the_monkey

I play euromillions once every few months, so maybe €10-€15 a year.

I always do quickpicks and NEVER learn my numbers, some people
are afraid not to play their numbers in case they come up.

last time i played i think i won €9.60 , when i took it to the shop
the girl said "yes this is a winning ticket" and my heart skipped a beat !!

so i was pretty dissapointed with the €9.60 !!

Big foots diick

4 euro a week,biggest win was 120 few months back.didnt last very long though.i wonder has any forgot there numbers only for them too come in.

the_monkey

Big foots diick wrote: »

4 euro a week,biggest win was 120 few months back.didnt last very long though.i wonder has any forgot there numbers only for them too come in.

it has happened.

Mike 1972

the_monkey wrote: »

some people are afraid not to play their numbers in case they come up.

Why ?

phasers

phasers wrote: »

Heh, the €5200 guy deleted his post even after 3 people quoted him.

Now we'll never know what he posted!

fabbydabby

fabbydabby wrote: »

I don't understand the 'idiot tax' reference - I thought Lotto was tax free?

It's 4euro less to spend elsewhere, just like paying taxes.

dsmythy

phasers wrote: »

Heh, the €5200 guy deleted his post even after 3 people quoted him.

Bad trait not being able to laugh at yourself.

Kasabian

€8 a week, it's not much for a dream.

Tzetze

Nada.

If you're not in, you can't lose!

strobe

Whenever I happen to be in a newsagent and think of it I'll buy a ticket. So about once every two or 3 weeks. If I win something then great. If I don't the money goes towards things like the Golden Eagle Trust, sports equipment for community centres, care homes, childrens hospitals........

Ohhh...wait. Ehhh, tax on stupidity, I mean tax on stupidity. :rolleyes:

J K

ishvalian wrote: »

€0, It's not called "Poor mans tax" for nothing.

It certainly isn't called that.
The correct cliche is 'tax on fools'.
Even if the odds are bad or tilted in favor of the bookie/state it is still the single only opportunity most people will ever have to become a filthy rich millionaire. If this is the only chance open to you, between your birth and death, to become a millionaire then to turn your back on that lone chance is probably foolish.

bonerm

the_monkey wrote: »

JT - CAPTAIN, LEADER, LEGEND !!!

o/t : Seriously?

I suppose Barry Bonds, Mike Tyson and OJ Simpson aren't far of the top of your rolemodel list either.

RichieC

€0

Mike 1972

J K wrote: »

Even if the odds are bad or tilted in favor of the bookie/state it is still the single only opportunity most people will ever have to become a filthy rich millionaire.

They also have the opportunity to become millionaires though hard work/good luck/smart decisions/good connections/some combination thereof ?

Of course for most people even with the best will in the world theres shag all chance of this actually happening but in all but the worst instances its still a damn sight more likely to come about in this manner than by doing the bloody Lotto

Besides in Ireland 2011 a millionaire hardly qualifies as "filthy rich". Comfortably off perhaps but hardly filthy rich. (Indeed during the celtic bubble there were pensioners who were quite hard up but on paper qualified as "millionaires" owing to the notional value of their houses)

misterdeeds

Jet Black wrote: »

10x52=5200?

52x10 =520 5200 ???

blueray

I had to give it up as a bad habbit... never won a cent!!!!

misterdeeds

superfish wrote: »

ok I was just wondering how much people spend on the lotto per week and whats the most you have ever won. the reason I ask is because im considering giving it up, I spend 10 euro a week for the past 2 years and the most ive ever won is 5 euro and a free scratch card

ha doing it 15 yrs now and the most i have won was 150 pound (all those years ago) and a few poxy scratch cards and the trouble with it is i hav to keep doing it cos if the numbers ever came out and i had stoped doing it id go mad

Kimono-Girl

€0 BUT

money saved by not playing the lotto (@ €2 a week) €624!

thenutflush

Mike 1972 wrote: »

Besides in Ireland 2011 a millionaire hardly qualifies as "filthy rich". Comfortably off perhaps but hardly filthy rich. (Indeed during the celtic bubble there were pensioners who were quite hard up but on paper qualified as "millionaires" owing to the notional value of their houses)

As far as I'm aware, the most common definition for a millionaire excludes their primary residence and consumer durables, and only includes investable assets (including 2nd or 3rd properties) and cash. So most wouldn't have qualified unless they possessed second properties, going by the standard definition.

A better defintion for a millionare would be someone who could Theoritically sell evertything clear all his debts and still have a million in cash.

thenutflush

J K wrote: »

It certainly isn't called that.
The correct cliche is 'tax on fools'.
Even if the odds are bad or tilted in favor of the bookie/state it is still the single only opportunity most people will ever have to become a filthy rich millionaire. If this is the only chance open to you, between your birth and death, to become a millionaire then to turn your back on that lone chance is probably foolish.

Yep, this is why it's probably not a bad idea to spend a 1 euro on the monday millions once a week. Just scrape up 1 euro in loose change a week to buy a line and you have shot at a life-changing amount of money. Even though the odds tells us you should win 3.2 million, it's still worth doing... a lot of that one euro goes to good causes after all..

Mike 1972

Didnt realise there was a standard definition ?

Always thought the definition was "worth 1,000,000 of the local unit of currency even if only notionally/on paper"

Speaking of which another way in which an ordinary pleb could become a millionaire would be to pay a visit to someplace like Zimbabwae :pac:

a lot of that one euro goes to good causes after all..

But most of it goes to the likes of Ballygobackwards GAA club

Anyway I think Im better placed than the Government to decide what constitutes a good enough cause for my one Euro

thenutflush

Mike 1972 wrote: »

Anyway I think Im better placed than the Government to decides what constitutes a good enough cause for my one Euro

Fair enough! Just remember though, normally when you give a euro to charity, most of it gets siphoned off by leeching administrative bullshít before it get's to the cause. I don't particularly mind my 1 euro going to help a GAA club in a remote area fund itself.. less chance of some CEO wan'ker using it to fund a 150000 a year salary.

Mike 1972

You do realise that donations to charity went down when the lotto started so it actually hurts not helps "good causes" ? Anyway people who do the lotto are doing so for just about the most selfish reason imaginable. The (albeit irrational) belief that they stand a realistic chance of getting a sizeable (unearned) lump sum equivalent to several years/decades salary tax free. Dont try and kid us that youre Florence bloody Nightingale because you do the lotto.

thenutflush

Mike 1972 wrote: »

You do realise that donations to charity went down when the lotto started so it actually hurts not helps "good causes" ? Anyway people who do the lotto are doing so for just about the most selfish reason imaginable. The (albeit irrational) belief that they stand a realistic chance of getting a sizeable (unearned) lump sum equivalent to several years/decades salary tax free. Dont try and kid us that youre Florence bloody Nightingale because you do the lotto.

I don't personally do the lotto to give to charity, but it's a reason people can use to justify doing the lotto. Have you a link for that claim you made in the first sentence? Also, if you're happy to never dream of being rich overnight, fair enough. You sound like the life of the party.. like Ned Flanders or something "my favourtie flavour is plain!"