Is the lotto a fools tax

Hector Bellend

If playing the lotto is a tax, isnt everything else a tax as well. Well, the bit that isnt actually tax already.

If 13 euro a week for fool lotto is a tax, then why isnt over € 10 for a packet of smokes called a retard tax.

sbsquarepants

Little Less Conversation wrote: »

Guess I am a fool. I done my maths again and it's actually €676 a year.

:eek:

That's a tax increase of like 1million percent. I blame the government, shower of bastards.

Turquoise Hexagon Sun

It's not a fool's tax to those that win every week or so. So no. Do you get a little happiness from the chance of potentially winning? If so, then it might be worth the few quid.

I only do the lotto every now and then but I enjoy the thrill of "it could be me." It's a fantasy where I know the odds aren't favourable but like OP said, you got to be in it to win it.

Loves_lorries

I put 25 euros on Dublin to loose the all Ireland final, how is that any less foolish?

If people didn't spend a few euro per week on the lottery, they would spend it on pints etc.

4068ac1elhodqr

dxhound2005 wrote: »

Can someone win €150 million on them?

Would 'any less' than 150m still be a life-changing amount?

The other poster above is correct there are many other lotto options to avail of a (much) 'lower edge'. E.g. The only lotto I ever use offers 1m+ just for 5balls in E'Mills (no stars needed).

Now if you got 5 main balls in the regular EM last night you'd only get 35k
https://www.lottery.ie/dbg/results/view?game=euromillions

Using my method, you'd get about this same amount for just 4 correct balls.

Sure there is some good causes in the regular lotto, but there is also a sizeable chunk going to 'operating costs', and the actual owners of the lotto itself: The 'Ontario Teachers Pension Plan'...

dxhound2005

Emerson Swift Quid wrote: »

Would 'any less' than 150m still be a life-changing amount?

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Bigger prizes generate more sales. That is why the games with massive prizes get much more public participation.

dxhound2005

_Brian wrote: »

Historically maybe but hasn’t the amount being donated fallen significantly while revenue is way up.

This is a for profit organisation now, profit will always win out.

Has it?

4068ac1elhodqr

dxhound2005 wrote: »

Bigger prizes generate more sales. That is why the games with massive prizes get much more public participation.

Yes sales on the back of a fantasy upon the ignorant.

Still doesn't answer the question:
Would 'any less' than 150m still be a life-changing amount?

Of course not, so just aim for 5balls (no stars) and get a guaranteed 1m.
4balls gets at least 30k, 3balls: 1,500, 2balls: 100.

dxhound2005

Emerson Swift Quid wrote: »

Yes sales on the back of a fantasy upon the ignorant.

Still doesn't answer the question:
Would 'any less' than 150m still be a life-changing amount?

Of course not, so just aim for 5balls (no stars) and get a guaranteed 1m.
4balls gets at least 30k, 3balls: 1,500, 2balls: 100.

I am not ignorant.

Gimme A Pound

There is no ignorance involved - people know exactly what they are doing, nothing is hidden from them.

There seems to be a trend of pretending it's this big scam with no winners (slim odds of winning doesn't mean no winners, and everyone knows the odds are slim) and calling it a tax is just pointless when there is no obligation to pay it.

Wheety

Meh, I play occasionally. Just the minimum, 1 line on EM and 2 lines on our own. Euromillions is expensive to play now though.

4068ac1elhodqr

dxhound2005 wrote: »

I am not ignorant.

Do you believe the odds of winning this 130m are 'reasonable'? 139,838,160 / 1.

Or would you prefer to win 1m using these odds:3,107,515 / 1.

What about the opportunity to get 30k, with these further reduced odds: 13,812 / 1.

Wheety

Pero_Bueno wrote: »

https://www.cuandomevaatocar.com/en/euromillions/

Just really shows what a fools game it is, took 14 years to get a 2+2 match (about 15E in prize money)
playing twice a week.

Fools game.



Fools game indeed

I've left it running to see how long it would take me to win the jackpot

50 years and the highest is 3+2 (once)

RebelButtMunch

Loves_lorries wrote: »

I put 25 euros on Dublin to loose the all Ireland final, how is that any less foolish?

If people didn't spend a few euro per week on the lottery, they would spend it on pints etc.

Or missiles.

Faith+1

Say that to the people who actually won the fcuking thing.

Gimme A Pound

Emerson Swift Quid wrote: »

Do you believe the odds of winning this 130m are 'reasonable'? 139,838,160 / 1.

Or would you prefer to win 1m using these odds:3,107,515 / 1.

What about the opportunity to get 30k, with these further reduced odds: 13,812 / 1.

Everyone knows the odds are miniscule.

Renegade Mechanic

RebelButtMunch wrote: »

Or missiles.

People called me a misogynistic pervert when I said I'd buy myself a fine growler with my winnings..

4068ac1elhodqr

Caroline Shy Sweetener wrote: »

Everyone knows the odds are miniscule.

The chance to win 1m (5 balls) are much (much) less.
The odds to win 30k (4 balls) are actually fairly reasonable indeed.

RayCun

Emerson Swift Quid wrote: »

What about the opportunity to get 30k, with these further reduced odds: 13,812 / 1.

how much are the tickets?

artanevilla

I only have to be lucky once, the lotto have to be lucky every time.

RayCun

RayCun wrote: »

how much are the tickets?

ha, are these odds you have made up yourself based on the gambler's fallacy? :pac:

scheister

Pero_Bueno wrote: »

https://www.cuandomevaatocar.com/en/euromillions/

Just really shows what a fools game it is, took 14 years to get a 2+2 match (about 15E in prize money)
playing twice a week.

Fools game.


edit

Your first 4+0 match took 147 years!! Shameful!!
winnings from a 4+0 between 62€ and 150€

Fools game indeed

tried the simulator and got the following

Your first 4+0 match took 226 years!! Shameful!!

Your first 3+2 match took nothing but 232 years!! You were lucky to win higher prizes in that period!!

550 years still waiting to win the jackpot

Wheety

scheister wrote: »

tried the simulator and got the following

Your first 4+0 match took 226 years!! Shameful!!

Your first 3+2 match took nothing but 232 years!! You were lucky to win higher prizes in that period!!

I matched 4+0 in 98 years. Have 3 x 3+2 though :cool:

4+1 after 170 years. Oh yeah.

tayto lover

I spend over 2K a year on it. Waste of money and I'm giving it up.

facehugger99

I'm pretty sure the people pissing away their money on the lottery would just find some other fool's venture to throw their cash at if it didn't exist.

4068ac1elhodqr

RayCun wrote: »

how much are the tickets?

This specific lotto is only available via a drive into the North, or through an arrangemenet with someone with in the uk, or other 3rd parties (online). Cost is 1.50 stg.

Sorry, to clarify the odds slightly better between each method:

The odds of getting 4 balls using regular lotto (from 6): 13,812 / 1
Maybe win about €50avg using this.

The odds of getting 4 balls using hotpicks lotto (from 4): 46,062 / 1
Guarenteed 30k stg.

Yes it's still a negative book, but you have to compare winning €45 (what someone get last Friday for 4balls) vs 30,000stg.

Also perhaps a slightly lower outlay of 1.50.

daheff

before they gave over running it to a private business, it was almost like donating money to charity (with the chance of a big return for your kindness).

nowadays its a scam. they put up the prices regularly to line their pockets.


i dont play the irish lotto anymore. too expensive for one.

RayCun

Emerson Swift Quid wrote: »

Cost is 1.50 stg.
....
The odds of getting 4 balls using hotpicks lotto (from 4): 46,062 / 1
Guarenteed 30k stg.

So for that guaranteed 30k you have to spend 69k

RayCun

but its okay you have a system!

4068ac1elhodqr

RayCun wrote: »

So for that guaranteed 30k you have to spend 69k

And for the measly €50notes for the game you play, you'd have to spend even more!

If you have the option to win 50euro or 30,000stg (for only slightly wider odds), which route would you take?

----

The odds of getting 4 balls using regular lotto (from 6): 13,812 / 1
Maybe win about €50avg using this.

The odds of getting 4 balls using hotpicks lotto (from 4): 46,062 / 1
Guarenteed 30k stg.

As you can see your method isn't better value 2.50 x 13,812 (for 50 notes) costs €34,530


btw, that chart is now outdated, a new one is created weekly, as it's a dynamic system.
About x4 doubles (100each) and a load of singles won since start of year.