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Topic   Who wants to be a millionaire?

reneeatworld
Double Gold Good Trader Has Written 20 Reviews
30-Dec-2017(#1)
I figured if we all put in the same amount of cash and did a group buy on the Powerball, it would increase our chances of winning. We could donate a portion of the money to bill so he can keep the site alive, and then we could all split the remaining money equally.

https://www.usatoday.com/story/news/2017/12/30/pow...


ODB
GameTZ Subscriber 250 Trade Quintuple Gold Good Trader Global Trader - willing to trade internationally
* 30-Dec-2017(#2)
Wouldn't it be better to buy the site from bill but keep him on as a consultant we reward handsomly, effectively making him out endangered servant?
SirConnery
GameTZ Gold Subscriber 1000 Trade Quintuple Gold Good Trader This user is on the site NOW (34 seconds ago) Secret Santa
30-Dec-2017(#3)
Endangered means he's at risk of perishing/getting killed. I think you mean indentured.
longhornsk57
GameTZ Subscriber Double Gold Good Trader Global Trader - willing to trade internationally Secret Santa
30-Dec-2017(#4)
No he had it right the first time.
ODB
GameTZ Subscriber 250 Trade Quintuple Gold Good Trader Global Trader - willing to trade internationally
30-Dec-2017(#5)
No he'd be in constant danger. Since he wouldn't own the site anymore it would take some time for him to adjust to not being an authoritative figure anymore. But because we'd be rewarding him handsomely he'd stick around even though he was getting thrown in the stockade.

*yes Connery you were right sir. I just had a bit of fun with it now. Mmmm crow tastes good.
Sam
GameTZ Subscriber Quadruple Gold Good Trader Has Written 5 Reviews This user is in chat NOW
30-Dec-2017(#6)
reneeatworld
Double Gold Good Trader Has Written 20 Reviews
30-Dec-2017(#7)
Prime wrote:
> Wouldn't it be better to buy the site from bill but keep him on as a consultant
> we reward handsomly, effectively making him out endangered servant?

Well if we allow bill to still own the site, it'll allow him to feel a sense of self worth. Then we'd have to buy the site and still pay him, and that'll cut into our profits. If we just invest a few bucks, he'll have a sense of self worth and we can still push him around since we'll be the investors.


Tony
Double Gold Good Trader
30-Dec-2017(#8)
Definition: Lottery - a voluntary tax on people who are poor at math.
dunno001
GameTZ Subscriber Triple Gold Good Trader Global Trader - willing to trade internationally This user is on the site NOW (47 seconds ago)
30-Dec-2017(#9)
Tony wrote:
> Definition: Lottery - a voluntary tax on people who are poor at math.

Pretty much this for me. I only play when the mathematical reward exceeds the cost/odds measure.

But I thought this thread was about the TV show. That would be a nice read...

Tony
Double Gold Good Trader
* 31-Dec-2017(#10)
dunno001 wrote:
>
> But I thought this thread was about the TV show. That would be a nice read...
>
>
I didn't watch the episode where the first man won the 1 million prize, but later I saw the list of questions he had been given and I could have answered all of them.

The producers had to change their insurance policy after he won because they had bet that no one would ever win the top prize.

What people don't seem to understand is that this show and shows like Jeopardy aren't necessarily about intelligence, but the ability to recall information (mostly trivia). Memory is a strange thing. I can't recall things I worked hard in school and college to remember, but I can remember odd bits of information I may have heard only once in my lifetime.

Disney's Hollywood Studios used to have a mock up of the Millionaire show in the park. Everyone in the audience first played "fastest finger" to choose the first person to answer questions, then everyone answered all of the questions along with the person who was in the contestant seat and could win prizes. When the person in the seat lost, the person in the audience with the highest score was the next contestant. When the first person lost, I had the second highest score so someone else got to play for prizes. The person that beat me had a long run and won the t-shirt and a set of Disney collector pins before missing. (As I recall the ultimate prize was a Disney cruise for 4.) I answered all of his questions correctly and had the highest score to be the next one to play for prizes, but they said our time had run out and they had to bring in a new audience.
HAMMER
GameTZ Subscriber 250 Trade Quintuple Gold Good Trader Global Trader - willing to trade internationally
31-Dec-2017(#11)
dunno001 wrote:
> Tony wrote:
>> Definition: Lottery - a voluntary tax on people who are poor at math.
>
> Pretty much this for me. I only play when the mathematical reward exceeds the cost/odds
> measure.
>
> But I thought this thread was about the TV show. That would be a nice read...
>
>

You have the same odds as the person who wins.
dunno001
GameTZ Subscriber Triple Gold Good Trader Global Trader - willing to trade internationally This user is on the site NOW (47 seconds ago)
31-Dec-2017(#12)
HAMMER wrote:
> dunno001 wrote:
>> Tony wrote:
> |>> Definition: Lottery - a voluntary tax on people who are poor at math.
>>
>> Pretty much this for me. I only play when the mathematical reward exceeds the
> cost/odds
>> measure.
>>
>> But I thought this thread was about the TV show. That would be a nice read...
>
> You have the same odds as the person who wins.

Yes, but what are the odds, 288 million to 1? That means the prize needs to exceed $576 million ($2 ticket) before I even consider buying it. And being just over usually isn't enough for me; I did try when it was $1.5 billion, though...

SirConnery
GameTZ Gold Subscriber 1000 Trade Quintuple Gold Good Trader This user is on the site NOW (34 seconds ago) Secret Santa
31-Dec-2017(#13)
Wouldn't you increase your odds by buying 1 ticket per week regardless of jackpot? Increasing odds by actually entering vs buying tons of tickets when it's high.
Tony
Double Gold Good Trader
31-Dec-2017(#14)
SirConnery wrote:
> Wouldn't you increase your odds by buying 1 ticket per week regardless of jackpot?
> Increasing odds by actually entering vs buying tons of tickets when it's high.

The odds of winning the Powerball are roughly equivalent to being struck by lightning while being eaten by a shark during a solar eclipse. But, eventually, someone beats those odds and wins. In the Powerball, the odds of winning don't change with the number of entries, so buying more tickets does increase you chance of winning. However, when the odds are 1,000,000,000 to 1, you really haven't increased your odds of winning much by buying 100 tickets. If you only have $100 in your lottery budget, you do have very slightly better odds if you buy multiple tickets for a single drawing over buying a single ticket in multiple drawings. But, as the saying goes, "you can't win if you don't enter".

Unless it costs you something, why not enter a contest? Many years ago I won a small sweepstakes and as a result I started getting the "Contest Winners Newsletter". Half of the newsletter was which contests were available and how to enter and the other half was stories about contest winners. One of the first stories I read was about a woman who had won the largest single (non-cash?) prize ever awarded - a private island with home on it somewhere off the coast of Florida. She had one entry in that sweepstakes.

Like a lot of groups, people at the company I worked for pooled their money and bought lottery tickets. In the 30 years I was there, they never won an amount large enough to give anything back. Small amounts were just rolled into the pool to buy the next set of tickets.

About the time I lost my job, I read an article about a local woman who had won $40,000 in cash and prizes in the previous 5 years by entering online sweepstakes. The article stated that, after she sent the kids off to school, she would spend about 45 minutes online entering sweepstakes. In the 7 years I've been out of work, I've spent a few minutes each morning entering the Publisher's Clearing House Sweepstakes and playing a few of their daily prize games. In those 7 years, I haven't won anything from them. About 6 months ago, my brother's step-daughter posted on Facebook that she had won a $10 prize from PCH. Every few months, they post a video of their Prize Patrol surprising someone with a multimillion dollar check.

Despite my failures with PCH, I have won a few small prizes from different sweepstakes here and there. The total value of those prizes for the year is probably a few hundred dollars. The most valuable prize I've won is a wireless headphone set (MSRP given as about $200) from Coke in their Circle K promotion. I won it with my very first entry over a month ago. My daughter and brother have been entering the Coke Circle K sweepstake every day and haven't won anything.

You have to be careful with drawings. Several years ago there was local drawing to win a $100,000 house. An 18-year-old kid won it. He had to pay Federal and state income taxes based on the value of the house as well as the property tax. Many sweepstakes where there is a non-cash prize offered (like the time Taco Bell had the Batmobile as the top prize), have a lower value cash prize option. This drawing didn't. The kid checked into selling the property, but realtors told him it would likely sell for only about $75,000, and he would have to pay them about 7% of the selling price. When it was all over, he was going to have well less than $50,000 as well as all the hassles.
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13) Secret Santa
31-Dec-2017(#15)
That reminds me of the HGTV Win a House stuff that they do every year. They had to start adding in a cash prize to go along WITH the house, if I recall correctly, because too many people needed to just immediately sell it to pay for everything that they would need to to keep it (prize & property taxes, fees, crazy insurance, and so on).
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13) Secret Santa
31-Dec-2017(#16)
Also, if you win something big on Ellen, the sponsor that provided the prize also pays the taxes for the person (such as when she gives away a car). Seems that some places are starting to realize that winning something big like that can be an issue.

We all need to move to Ontario where you keep 100% of the lottery amount with no taxes taken out! smile
Felty
Silver Good Trader Has Written 6 Reviews
1-Jan-2018(#17)
I buy Powerball just about every drawing. Never know! Plus, I am a degenerate gambler.
lpeters82
GameTZ Gold Subscriber Gold Good Trader
2-Jan-2018(#18)
I probably average a ticket or two a year. For me it's a chance to have that "What would you do if you won?" dream.
John
GameTZ Gold Subscriber GameTZ Full Moderator 400 Trade Quintuple Gold Good Trader Gold Global Trader (13) Secret Santa
2-Jan-2018(#19)
I admit to buying one when the jackpot is huge. Back in the day, when it very rarely got over $100,000,000, my Dad would call me and ask if we bought a ticket every time it got that high. So, now, mainly because I know he'd would call if he was still around, I buy one when it gets to huge levels (i.e. once or twice a year).
lpeters82
GameTZ Gold Subscriber Gold Good Trader
2-Jan-2018(#20)
Yeah, we basically buy when everyone's talking about how big it is.
Dustin
GameTZ Subscriber 650 Trade Quintuple Gold Good Trader Global Trader - willing to trade internationally
2-Jan-2018(#21)
I buy maybe 5 tickets a year, usually when it gets relatively big. Fun to sit and think about what could be.
Tony
Double Gold Good Trader
2-Jan-2018(#22)
When the pots got ridiculously high, I put my $2 into the pot several times with my coworkers using the justification "I don't want to be the only one left here if they win". Not long after I left, there was an announcement that a nearby grocery had sold a winning ticket to a local group, but it wasn't them. If you watch the documentaries on lottery winners, some people can handle the sudden wealth and some can't.

Because of the way the lotteries are run, the number of players doesn't influence the odds of winning. In sweepstakes where a winner will be chosen from the entrants, the odds get worse when more people enter. Most of the sweepstakes advertised on Facebook say "share this with your friends and get an extra entry", but I don't share it because my odds of winning decrease rapidly as more people enter.

Some of the sweepstakes on Facebook say the winner is chosen by random drawing from people who comment, but it is likely that the comment influences the choice. I'm not the only one who believes this, because the comments are full of statements like "I would love to win this for my dying child".

A few years ago Amazon offered a Schleich dragon rider figure and asked for comments on where you would take your flying dragon if you had one. I responded that the only place to take a dragon was Hanalei. I won, but I don't really have a place for it so I've never taken it out of the box. I think it is this one: https://www.amazon.com/gp/redirect.html?ie=UTF8&lo...
TahoeMax
550 Trade Quintuple Gold Good Trader Gold Global Trader (13) Has Written 2 Reviews
2-Jan-2018(#23)
My wife and I plunk down $20 when the jackpot is over $400m. Cuz obviously it's not worth the effort for smaller jackpots

Topic   Who wants to be a millionaire?