Powerball

[Ndaccountant]

Should just pretended to be Mormon....

 

[wizards8507]

Lol I appreciate the concern guys, but I assure you that declining to do the lottery pool was not a CLM.

 

[woolybug25]

Maybe I didn't explain the dynamic very well. I'm the good-humored contrarian around here. It's a shtick.

When does the office prick not think they are the "good humored contrarian"?

Newsflash... they only talk bad about you behind your back...

 

[Irish YJ]

It's $2 ya cheap bastard. I think that amount is worth not looking like a complete prick to you coworkers. lol

We did a $10 min/share, doing $5 this round since we won half of what would have been a total of $10 for everyone... one of my admins told me she didn't want play as she had bought a few of her own. I told her she'd have my job tomorrow when all of us are in the islands. She gave me $10 bucks, and said she wouldn't be in the islands with us, she just didn't want my job... lol. We all just have a good time talking about what if. IMO it's worth 5 or 10 bucks every once in a while for nothing more than entertainment value. Wiz is just, well, he just the Wiz.

 

[Ndaccountant]

 

[Irish#1]

Wiz comes into work and is like WTF? Where is Mike & Mike? Where is everyone? It's Friday, where's my paycheck?

 

[IrishinTN]

If you don't play, your odds of winning are 0 in 200 million...at least there'sa chance (insert dumb and dumber meme here)

I would take the cash equivalent since I am almost 50 and probably couldn't spend it all in my life any way, but I would spend the rest of my life makng a lot of other people happy. It is my favorite thing to do.

The disturbing thing is what a high percentage of people are broke again within 3 years. Without looking it up, I think its like 70% because most of these folks didn't have a lot of money in the first place (why would you play if you did?) so they have no idea how to save and invest. It's really a shame. I read about one person who won TWICE! And they are broke again. Sigh.

 

[wizards8507]

If you don't play, your odds of winning are 0 in 200 million...at least there'sa chance (insert dumb and dumber meme here).

Yes, but if you don't play, your odds of keeping $2 are 100%. I'd rather 100% have $2 than 0.0000005% have $400M or whatever the number is. The expected value (odds times amount) in either case is $2, but one of them is risk-free. Prudence dictates that when two expected outcomes are equal, you go with the one that carries less risk.

I'll put it this way. If you think it's mathematically sound to spend $2 on a lottery ticket, then logic dictates that you spend every dollar you have to buy as many lottery tickets as you can afford. The math doesn't change.

 

[IrishinTN]

meh, you're going to spend it any way.

 

[woolybug25]

Yes, but if you don't play, your odds of keeping $2 are 100%. I'd rather 100% have $2 than 0.0000005% have $400M or whatever the number is. The expected value (odds times amount) in either case is $2, but one of them is risk-free. Prudence dictates that when two expected outcomes are equal, you go with the one that carries less risk.

I'll put it this way. If you think it's mathematically sound to spend $2 on a lottery ticket, then logic dictates that you spend every dollar you have to buy as many lottery tickets as you can afford. The math doesn't change.

But a 100% chance that your coworkers thinking of you as a prick.

 

[wizards8507]

But a 100% chance that your coworkers thinking of you as a prick.

 

[wizards8507]

They're making a third day of collections. They're now $60 deep, minimum.

 

[Irish#1]

Yes, but if you don't play, your odds of keeping $2 are 100%. I'd rather 100% have $2 than 0.0000005% have $400M or whatever the number is. The expected value (odds times amount) in either case is $2, but one of them is risk-free. Prudence dictates that when two expected outcomes are equal, you go with the one that carries less risk.

I'll put it this way. If you think it's mathematically sound to spend $2 on a lottery ticket, then logic dictates that you spend every dollar you have to buy as many lottery tickets as you can afford. The math doesn't change.

Sounds like Wiz has the first penny he's ever made.

Daddy, can I get new clothes for school? Honey you've only worn them for three years.

 

[wizards8507]

Sounds like Wiz has the first penny he's ever made.

Daddy, can I get new clothes for school? Honey you've only worn them for three years.

Got a $98 sweater at the thrift store for $6 the other day. Still had the tags on it. Boom goes the dynamite.

 

[Irish#1]

Got a $98 sweater at the thrift store for $6 the other day. Still had the tags on it. Boom goes the dynamite.

Surprised you didn't wait until 50% off Friday. Could have gotten that baby for $3. That would let you buy a Powerball ticket have a new sweater and still pocket a dollar.

 

[wizards8507]

Surprised you didn't wait until 50% off Friday. Could have gotten that baby for $3. That would let you buy a Powerball ticket have a new sweater and still pocket a dollar.

Lmao, true story. It was 50% off day. Took the price down from $12.

 

[koonja]

Lol, people like wiz are amusing, they're not pricks. I can totally pick up on his vibe. And the comment 'I'd get promoted 8 times over night' was clever.

How pissed would you guys be if I won? Funny story, this summer I found a winning lottery ticket. I've never bought one in my life. It was for $5 and I still haven't cashed it in.

 

[tussin]

Yes, but if you don't play, your odds of keeping $2 are 100%. I'd rather 100% have $2 than 0.0000005% have $400M or whatever the number is. The expected value (odds times amount) in either case is $2, but one of them is risk-free. Prudence dictates that when two expected outcomes are equal, you go with the one that carries less risk.

I'll put it this way. If you think it's mathematically sound to spend $2 on a lottery ticket, then logic dictates that you spend every dollar you have to buy as many lottery tickets as you can afford. The math doesn't change.

Nothing, I repeat nothing, is more annoying than the guy that pontificates about how much of a waste of money the lottery is.

No one who participates in a casual office pool does it because they think it's economically sensible. Wiz, I hope your office group takes down the jackpot.

 

[zelezo vlk]

Lol, people like wiz are amusing, they're not pricks. I can totally pick up on his vibe. And the comment 'I'd get promoted 8 times over night' was clever.

How pissed would you guys be if I won? Funny story, this summer I found a winning lottery ticket. I've never bought one in my life. It was for $5 and I still haven't cashed it in.

We know exactly what to expect if you win: News stories coming out of South Bend about a donor attempting to build statues of Greg Bryant outside of the stadium.

All in good fun, my man.

Sent from my SAMSUNG-SM-G900A using Tapatalk

 

[IrishLax]

If you're such dire financial straights that you can't afford guacamole on your burrito, then you're allowed to legitimately talk about a one-time $2 purchase being a "waste" of money.

Otherwise, STFU. And we're probably not friends, because you're "that guy" who asks for itemized separate checks for a party of 8 when you go out to eat.

 

[Whiskeyjack]

That's not, true is it? Don't they pull from the same pool of numbers every time? So your odds of a win should be the same no matter who is playing.

Perhaps I phrased that too vaguely. The expected value of a ticket plummets when the pot is huge because so many more people buy tickets, thereby increasing the odds of a split pot tremendously. It's counter-intuitive, but lottery tickets are a better buy when the pot is modest. That's all my initial post was meant to do-- to push back on the "Big pot, guys! Better go buy some tickets!" sentiment.

Nothing, I repeat nothing, is more annoying than the guy that pontificates about how much of a waste of money the lottery is.

No one who participates in a casual office pool does it because they think it's economically sensible. Wiz, I hope your office group takes down the jackpot.

Casual office pools at least have some positive social effects to them. I participate in mine for that reason, despite being risk adverse enough that I'd never buy a ticket otherwise. But I'm sure we all know people who spend a lot of more money on lottery tickets than is prudent, and they're usually those who can least afford to do so for purely "entertainment" purposes.

 

[IrishLax]

Alternatively, if I got a couple hundred million overnight I wouldn't give a dime away to charity. I'd invest 90% of it and use the remaining money going Clemson on some 5-star recruits.

 

[wizards8507]

No one who participates in a casual office pool does it because they think it's economically sensible.

Help me understand it then. If I buy a video game, I know it's not economically sensible but I do it anyways because I want to be Darth Vader and force choke rebel scum. With the lottery, you're taking a strictly financial risk for a strictly financial potential reward. There's no other criteria besides economic ones, so on what else would the decision be made?

 

[koonja]

Help me understand it then. If I buy a video game, I know it's not economically sensible but I do it anyways because I want to be Darth Vader and force choke rebel scum. With the lottery, you're taking a strictly financial risk for a strictly financial potential reward. There's no other criteria besides economic ones, so on what else would the decision be made?

See Whiskey's previous post, dumb dumb.

And seriously, what if you won?

 

[woolybug25]

Help me understand it then. If I buy a video game, I know it's not economically sensible but I do it anyways because I want to be Darth Vader and force choke rebel scum. With the lottery, you're taking a strictly financial risk for a strictly financial potential reward. There's no other criteria besides economic ones, so on what else would the decision be made?

You're a social dud. It's not about economic gain. It's about camaraderie and office rapport.

Pull the stick out of your arse, ya curmudgeon.

 

[kmoose]

Help me understand it then. If I buy a video game, I know it's not economically sensible but I do it anyways because I want to be Darth Vader and force choke rebel scum. With the lottery, you're taking a strictly financial risk for a strictly financial potential reward. There's no other criteria besides economic ones, so on what else would the decision be made?

How about being a part of the "the team" in the office? Life isn't all about you, snowflake. Millions of people do things without any expectation of something in return, every day.

 

[wizards8507]

If you're such dire financial straights that you can't afford guacamole on your burrito, then you're allowed to legitimately talk about a one-time $2 purchase being a "waste" of money.

Otherwise, STFU. And we're probably not friends, because you're "that guy" who asks for itemized separate checks for a party of 8 when you go out to eat.

As I articulated, it wasn't a one-time $2 purchase. It's a three-time $20 purchase (so far). That's $60 down the drain. I don't think it's too deep into "cheap bastard" territory to not participate at that point.

FWIW, I do office fantasy sports, Super Bowl Squares, etc. all the time.

You're a social dud. It's not about economic gain. It's about camaraderie and office rapport.

Pull the stick out of your arse, ya curmudgeon.

How about being a part of the "the team" in the office? Life isn't all about you, snowflake. Millions of people do things without any expectation of something in return, every day.

People love me, brajs. I'm the class clown and the prom queen and your mom's best friend all at once.

 

[gkIrish]

Gambling is stupid too because the odds are never in your favor.

Despite that, the feeling you get when winning a ton of money in the casino makes it all worth it. It's hard to replicate that exact feeling you get from anything else.

 

[koonja]

Wiz logs into ESPN's internal social site:

 

[Henges24]

FYI to the board...do not talk about money without expecting criticism from Wiz.