Euromillions

sunama said:
So, just to clarify, A LOT of money has been spent by forumites, but not a single £20+ win?
It just goes to show that the lottery is a waste of money unless you match all the numbers...which is almost impossible.

I don't think I shall bother with the lottery any more.
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You only need to look at the stated odds to work that out not some.

IMO, the prizes need to be more spread out, my sister's 10 man syndicate got 5 numbers one week and all they ended up with was £1300 between them (£130 each) which for one number under the Jackpot is ridiculous. It carries odds of 55k to 1 and yet offers a pay out and nearly 26 times less.
 
This thread is brilliant with all the "enlightened conclusions" people are happening upon.

It's amazing how so so so many people can buy tickets, and nobody matches the numbers.
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Not really. Asking 10 people to pick a number from 1 to 10. You won't get everyone picking different numbers. Add the duplicate sets of numbers to the probability of winning and you have quite a good chance of a rollover.

The lottery is both a tax on the stupid and a bit of fun for the rest.
 
Isn't it like 140m today?

If you won that and stuck it in a bank how much interest would you earn on that? :eek:
 
fez said:
This thread is brilliant with all the "enlightened conclusions" people are happening upon.



Not really. Asking 10 people to pick a number from 1 to 10. You won't get everyone picking different numbers. Add the duplicate sets of numbers to the probability of winning and you have quite a good chance of a rollover.

The lottery is both a tax on the stupid and a bit of fun for the rest.
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Exactly.

Patterns are far more likely to get picked, things like the anchoring effect & various others things.

Then add in the fact people pick dates linked to birthdays, favourite numbers - then on-top of that people are terrible at generating random numbers.

Statistically (if I recall correctly) 7 (out of 10) and 17 (out of 20) are picked a few times more often than they should be (2/10 or 4/20).

While you can't influence the probability of wining, you can ensure you pick totally random numbers (which in turn increases the probability of getting higher winnings if you do win).

You can only lose out by picking "special numbers" with everything to win by going random.
 
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Can someone explain to me why when the Jackpot rolls over like this people go out and buy more tickets than they usually do?

It's people are saying, "pah £20m, it's not worth trying to win that but £120m, now you're talking give me 20 tickets!"

For me personally the difference between me winning £20m and £120m would be minor. In fact every pound over about £4m would become less and less significant.
 
estebanrey said:
Can someone explain to me why when the Jackpot rolls over like this people go out and buy more tickets than they usually do?

It's people are saying, "pah £20m, it's not worth trying to win that but £120m, now you're talking give me 20 tickets!"

For me personally the difference between me winning £20m and £120m would be minor. In fact every pound over about £4m would become less and less significant.
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I'd be quite happy with £1m. Buy 3 or 4 £200,000 properties and live of the rent.
 
Depends what you do with it, 4million isn't a lot at all, in the grand scheme of things and if we're talking investment/reserch, then it's absolutely tiny.

4mill you be lucky to afford a million pound house and a few nice cars and be able to afford the upkeep. Doesn't mean it's not life changing amount, or that you couldn't retire, but several million, you would still have to watch the pennies.
 
Glaucus said:
Depends what you do with it, 4million isn't a lot at all, in the grand scheme of things and if we're talking investment/reserch, then it's absolutely tiny.

4mill you be lucky to afford a million pound house and a few nice cars and be able to afford the upkeep. Doesn't mean it's not life changing amount, or that you couldn't retire, but several million, you would still have to watch the pennies.
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I wouldn't want a 'million pound' house. Even if I won the £120m I still wouldn't go and buy one of those huge mansions you see footballers in.

All I'd want ideally is a detached house with maybe 4 decent sized bedrooms as an absolute maximum. As for cars I'm not like JK from Jamiroquai, again even with millions I wouldn't go out and buy a fleet. All I'd want is maybe one Sports Car and one family sized car and that's it, I'd probably be happy spending £200k maximum on cars.

The rest I'd just stick in the bank and live on the interest. I'd be perfectly happy not buying out some company or investing in shares and that malarky.
 
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