How cheap would a lottery ticket have to be for you to play it more?

Just heard recently I can actually to the lottery in Vietnam and just had a look at the site. It works out at 0.40 euro a line for the 45 number and 55 number draws, with the jackpots generally around a half a million up to three or four. Minimum buy is one line.

Went on lotto.ie and checked. Min two lines and if you do the extra, it's a minimum of six euro. Didn't realise it was that expensive.

Think I might do the lottery sometimes since it's so cheap and I want to collect my novelty cheque wearing a mask.
https://vietlott.vn/vi/trung-thuong/ket-qua-trung-thuong/chu-nhan-jackpot
It's gas. They have to do the photo so some people go and wear Santa / Shrek / Pikachu masks.

work

As already stated there should be a tax on stupidity.
There is it's called the lottery.
It's no different from going to the bookies, not for those with a brain

riffmongous

Yeah it's gone fierce expensive since I was young.

work wrote: »

As already stated there should be a tax on stupidity.
There is it's called the lottery.
It's no different from going to the bookies, not for those with a brain

I think that's a bit harsh, it's only stupidity if you really think you are going to win everything, for some people it's just a bit of fun, a quick thrill once you keep a hang on it

Snails pace

work wrote: »

As already stated there should be a tax on stupidity.
There is it's called the lottery.
It's no different from going to the bookies, not for those with a brain

Bit of a harsh comment there. Have a syndicate with the family. Its only €4/week for each of us to do it. That includes the irish lotto and euromillions. If I was to do the lotto every week i think it would have to be around €3.

Dr. Bre

work wrote: »

As already stated there should be a tax on stupidity.
There is it's called the lottery.
It's no different from going to the bookies, not for those with a brain

It’s a price of a pint which most people haven’t a problem spending money on. Don’t see the big deal

murpho999

Snails pace wrote: »

Bit of a harsh comment there. Have a syndicate with the family. Its only €4/week for each of us to do it. That includes the irish lotto and euromillions. If I was to do the lotto every week i think it would have to be around €3.

Dr. Bre wrote: »

It’s a price of a pint which most people haven’t a problem spending money on. Don’t see the big deal

Because if you looked at the odds of actually winning then you'd realise how stupid it is to buy a ticket.

Mint Sauce

I might consider it, if they simplified it a bit, ie. not having multiple different draw types, and IF it was reduced to a 50c a line.

Those two, and I might be tempted again.

There was a euro millions draw a few years back where, assuming you were the sole winner, you were getting the correct odds to play because the top prize was so large. So at whatever price point it becomes positive expected value, then I'll play.

murpho999

murpho999 wrote: »

Because if you looked at the odds of actually winning then you'd realise how stupid it is to buy a ticket.

If the odds were one in a billion, it's still better odds than 99% of people have of striking it rich.

Sure, it's stupid if you spend a lot of money on it. But one line every so often is enough and it gives that daydream for a while of being rich.

I always find that the people who treat it like you do are too analytical about it and miss the bigger picture. Someone will win. It's cheap entertainment to buy a ticket and daydream for a while that you might be the one. I haven't done it in nearly a decade and just found out I can do it here and claim, so I'll do it a few times and imagine what I'd do.

[Deleted User]

[Deleted User] wrote: »

There was a euro millions draw a few years back where, assuming you were the sole winner, you were getting the correct odds to play because the top prize was so large. So at whatever price point it becomes positive expected value, then I'll play.

That sort of falls down if a billionaire gave you five to one if you bet your entire life savings and assets. Would you do it because the odds were great?

Who cares if the odds are ten million to one but you only get three million. It's about it being life-changing.

EasyG

1 euro per line.

Deleted User

Deleted User wrote: »

That sort of falls down if a billionaire gave you five to one if you bet your entire life savings and assets. Would you do it because the odds were great?

Who cares if the odds are ten million to one but you only get three million. It's about it being life-changing.

Who cares? You asked the question. It matters how much the bet is, your odds of winning are and the prize. That's exactly what I take into account.


Then its a matter of how much you are willing to put forward yourself, I think that's what you are getting at. If a billion offer to quadruple my life savings on a flip of coin? Are you saying something like that? I'd do it in a heart beat then take out massive loans to do it as many times as possible. Although I haven't got much to lose in the first place to be honest.

Ten of Swords

100 Venezuelan Bolivars

[Deleted User]

[Deleted User] wrote: »

Who cares? You asked the question. It matters how much the bet is, your odds of winning are and the prize. That's exactly what I take into account.


Then its a matter of how much you are willing to put forward yourself, I think that's what you are getting at. If a billion offer to quadruple my life savings on a flip of coin? Are you saying something like that? I'd do it in a heart beat then take out massive loans to do it as many times as possible. Although I haven't got much to lose in the first place to be honest.

Well the question I asked was about the size of the bet and you said it was about the odds. So I posed the question. Fair enough if you'd do it. I'll up the ante though.. You win a million and a billionaire offers you ten to one.

I think odds like the lottery are meaningless and so hard to grasp, and a win so life-changing, it being a profitable bet doesn't matter. You'll never put the bet on enough times for EV to come into it.

Kiith

I'd happily pay €5 every now and again to have that improbable chance to win a few million quid. Well worth the daydream.

ILoveYourVibes

Its not really the price that doesn't make it play it more.

Its cheap enough already. I only play it like twice a year.

I never think about it to be honest. I forget.

Its not like a pub quiz or a card game. It takes five secs ...so its easy to forget.

I play it for the day dream. But i forget about it a lot.

I think what would encourage people to play is to sign them up for like ten weeks in a row.

Or sign people up to play for a year.

That would be cool. I'd do that. I never think about playing it.

I'm always going I MUST do that etc. I must play it this week. Then I always forget.

My mom is the same.

Badly Drunk Boy

ILoveYourVibes wrote: »

I think what would encourage people to play is to sign them up for like ten weeks in a row.

Or sign people up to play for a year.

That would be cool. I'd do that. I never think about playing it.

I'm always going I MUST do that etc. I must play it this week. Then I always forget.

Do you mean like the multiple draws? You can do that for eight draws in the Lotto, so for 4 weeks.

There are local lotto competitions, usually linked to GAA or soccer teams but other groups too, that you can do online for 10 of 20 draws or even the full year. You'd also be supporting your local community, if that's what you're into.

ILoveYourVibes

Badly Drunk Boy wrote: »

Do you mean like the multiple draws? You can do that for eight draws in the Lotto, so for 4 weeks.

There are local lotto competitions, usually linked to GAA or soccer teams but other groups too, that you can do online for 10 of 20 draws or even the full year. You'd also be supporting your local community, if that's what you're into.

Oh I didn't know. I will see about it next time. Thanks.:)

Ficheall

murpho999 wrote: »

Because if you looked at the odds of actually winning then you'd realise how stupid it is to buy a ticket.

You reckon it's more stupid than buying a pint?

Obvious Desperate Breakfasts

work wrote: »

As already stated there should be a tax on stupidity.
There is it's called the lottery.
It's no different from going to the bookies, not for those with a brain

That’s not trite at all. What an original sentiment.

Bio Mech

If it was free I still wouldn’t play it.

murpho999

Ficheall wrote: »

You reckon it's more stupid than buying a pint?

No as you buy a pint and you get a pint and that's it. People buy a lottery ticket in the hope of getting something else and it doesn't happen.

An Ri rua

murpho999 wrote: »

No as you buy a pint and you get a pint and that's it. People buy a lottery ticket in the hope of getting something else and it doesn't happen.

You buy a right to be in a draw or entered into a lottery game. It's finite, it's tangible, it has utility. Which is why the Chinese Communist Party never clamped down on lotteries.
I do it a few times a week and I won't bore you with my IQ, qualifications and salary. I used to drink, I don't any more. Nor smoke. It's a simple case of if you're not in, you can't win. The odds are off the charts but even that can be ameliorated somewhat.

Andrew00

When they rose the Irish lotto up to 6 that was me done.

Word of advice to everyone as well, if ur doing the lotto/euromillions do it without the plus

KungPao

I’d play for a euro per line, if it could be set up as a direct debit, and I was automatically informed of any winnings.

Otherwise I really couldn’t be arsed.

Guy:Incognito

murpho999 wrote: »

Because if you looked at the odds of actually winning then you'd realise how stupid it is to buy a ticket.

You know what your one Dolores from limerick would have now if she didn't pay her "idiot tax" .

Not 100 odd million euro, that's for sure.


I suppose you could always spend the few quid on cigarettes and at least get something out of it, cancer.

work

Obvious Desperate Breakfasts wrote: »

That’s not trite at all. What an original sentiment.

"As already stated" means not original, sorry you needed that explained.
I specifically claimed my statement as not original.
Look if you enjoy it then go for it but do not fool yourself into thinking it's anything other than a waste of money.

Homelander

I only do the syndicate at work, simply because the idea of those bastards winning and heading off into the sunset while I'm sitting at my desk, depressed is too much to think about.

skooterblue2

Kiith wrote: »

I'd happily pay €5 every now and again to have that improbable chance to win a few million quid. Well worth the daydream.

You have better chances to be a CEO than you have of winning the lottery.
Day dreaming is time wasted when you could be actually bettering yourself.

bucketybuck

Is there anything more inane than some tiresome bore lecturing people about the lottery, blathering on as if only they know the real truth behind it all?

"The odds are astronomical, its a waste of money"

Gee, you don't say!!! :rolleyes:

The irony of course being that while they bleat on about "expected value" all it shows is that they don't really understand why people buy tickets in the first place.

Also, why the **** does anybody do the lotto when the euromillions is right there?

Potential-Monke

I play it. Try to play the Friday Euromillions and Saturday Lotto every week. It's €13, which I would probably spend on something to eat instead. I genuinely think it's worth the chance to never have to work again. It's also my only means of easily getting out of debt. You could say use that €13 a week to pay off the debt quicker. Yeah, sure, it would take about 4 months off the total time required to pay. I'll take my chance of being able to clear it instantly instead.

Calling it a tax on the stupid. Hah. That's alcohol.

Blitzkrieger

It's hard to make a logical attitude for playing the lotto. My attitude boils down to :

A : I won't miss the money I'm spending.

B : The odds are vanishingly small but people do win it.

C : At least some of the money goes to good causes.

I used to spend €20 a week between the Irish lottery and the Euromillions, but the second last time the Irish lotto raised their prices, I stopped playing regularly. Atm I spend €14 a week on the Euromillions. I probably spend four times that in the pub on a slow week. Objectively all that spending is a waste of money, but I get enjoyment out of it, so wth.......

The jackpot odds are massive, but I've won a bit here and there. When I was paying €20 a week I won €2,000, so two free years! I was about to go on holiday at the time, so I was probably a little looser with the cash and probably had a better holiday because of it. Yeah, I could have spent two years saving twenty quid a week, but where's the fun in that?

Our local astro turf pitch got a huge chunk of the construction cash from the national lottery. It's a great facility for the community.