Soldato
- Joined
- 2 Jun 2004
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- 18,423
Waste of money. I intend to make my own fortune, rather than 'win' it.
Poll: Gambling is evil!
- Thread starter FrostedNipple
- Start date
Soldato
- Joined
- 13 Aug 2004
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- England
I wouldn't say gambling entirely is stupid, but the Lottery is as the chances are so remote of a reasonable prize win.
Syndicates increase your chances of winning but reduce the winnings if you do.
Being stupid doesn't necessarily have anything to do with an individual's appetite for risk. Economics/Finance suggests it's quite normal to undertake some degree of risk. I'd be more inclined to agree with you on extreme probability events (such as lotteries) though. It is generally thought that people over-estimate the chance of unlikely events, so I purpose that could fall under the umbrella of 'stupidity'.
This is totally true. I don't play scratchcards or the lottery, however I do play roulette on occasion, which I find very entertaining. The trick is to take a certain amount of money to the casino to play with and lose, not money which you expect to win from. Winning is just a nice bonus.
I play the lottery twice a week, buy scratchcards a few times a week.
Oh i'm going to hell.
I don't really bet on sports, maybe darts or pool down the pub but thats about it.
Cards isn't about the gambling for me, it's about drinking, whisky, smoking cigars and having a laugh with your mates.
Oh i'm going to hell.
I don't really bet on sports, maybe darts or pool down the pub but thats about it.
Cards isn't about the gambling for me, it's about drinking, whisky, smoking cigars and having a laugh with your mates.
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ProI've spent £2 on the national lottery, and won £15.
I retired after that lucky streak.
So you dont do £1.50 on the euro millions when its a 5 week rollover, looking at £50m+, just because you would rather earn it?
Its odd how you can say that, in poker if someone bet 5% of a pot and you had a reasonable hand (say a pair on the turn), you would call because the potential return on that 5% is huge. £1 to win £4m is a sensible bet tbh.
Associate
- Joined
- 29 Dec 2004
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- 998
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- London
Poor example. The reason why you would generally want to call the bet in a game of poker is because the size of the pot, the size of the bet and your chances of winning make the odds go in your favour. The pot is 20 times your bet so if you have a one in 20 chance of winning the hand (you often do), the odds are in your favour so it is a good call to make. (Of course, no half-decent player would make such a small bet unless they were holding the nuts and knew you would fold to any decent raise)
The reason why entering the lottery when the jackpot is £4 million is not a sensible bet because your chance of winning the jackpot is around one in 14 million. The jackpot would have to be at least £14 million for the odds to be in your favour and even then, that doesn't take into account the chance that more than one person wins the jackpot so it is split as would probably happen with such a large jackpot.
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LOL
If you want to gamble, go into your local casino and bet your months wages on RED or BLACK. Higher chance of winning.
Most wont do that as they want MAXIMUM Winnings for minimum risk.
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Most people who win squander it all and go bankrupt anyway.