ak47

why buy more than one?  Your EV doesn't change in any meaningful way from 1 to 10 tickets so you are really just throwing away more money.  At the odds of winning the lottery you either play or you don't, buying 10 tickets compared to 1 is making no meaningful difference and your odds and makes it less likely to recoup anything for just getting a couple numbers right.

ak47

My advice is to not play the lottery since you have a better chance of flushing your money down the toilet leading to a clog which leads you to discovering you have buried treasure under your house than you do of winning it (obviously /s).  Seriously, if WD put the \$16 he spent in an ally savings account and accrued interest at 1% it would be 1,0000% times the investment in the lottery.  Lol at saying the roi of buying multiple tickets is worth it.  Going from a 1 292 million chance to an 8 in 292 million chance does nothing for your expected outcome and costs you an additional \$14.  Donate that money to charity if you are so willing to just give it up.

JamieH

If \$1 makes or breaks you, then yah, don't play.

If \$1 is mostly irrelevant to you,then the ROI from winning the lottery (aka permanent financial freedom)  is probably worth buying 1 ticket.

But I agree, buying anything more than 1 ticket is a total waste of money, because you are essentially dividing by infinity.  Your chances of winning are going up, but they are still so ridiculously small that you really haven't gained anything, you've just thrown your money away.

The biggest increase in odds you can gain is that first dollar, because your odds of winning went from 0 to >0, and that is a INFINITELY large jump.  Every jump beyond that is ridiculously small, unless you were to buy thousands and thousands of tickets.

1989 UM GRAD

You guys are trying to apply math and rational reasoning to something that is inherently not rational. Sure, your chances of winning are infinitesimal. But someone has to win. And holy shit \$800 million. That's a lot of money.

MaizeAndBlueWahoo

Nobody has to win, but someone is going to.  Literally every jackpot in the history of the game has been won by someone eventually, except for the current one, so the pattern is not likely to break.  And that someone won't be you unless you play.

From a pure ROI standpoint it is stupid to play any kind of gambling game, but some people walk out of the casino winners anyway.

ak47

Sure it will be won at some point but I didn't originally post to say don't play, I'm going to buy a ticket because I have a pretty good job and \$2 to spare.  I'm arguing buying multiple tickets is stupid.  Once you are in the game you get the thrill of those seconds until your ticket busts.  Having 10 tickets isn't going to change that but it will cost you extra money.

M-Dog

I'm not buying an investemnt.  I'm buying 20 minutes of fantasizing what I will do if I win the lottery.

It's fun.  Like going to a movie.  There's no ROI in that either, but I still do it.

hunterjoe

PB tix are \$2.  At least in MN.  Your point is no longer valid.

JamieH

Makes buying multiple tickets an even worse idea.  Best idea (IMO) is still to buy 1 ticket so that you are in the pot and leave it at that.  Assuming you are ok with setting \$2 on fire.

Hail-Storm

Is worth the crazy dream.

But I agree, anything more than 1 ticket is not changing things for you. I'm not going to tell people how to spend their money though.

rob f

shit, Jamie, I'm screwed.  You see, I bought one ticket yesterday and on impulse, bought another today.

Do you or anyone else know someone who is willing to take that 2nd ticket off my hands?  Though it's totally worthless to me, to someone who doesn't yet have a ticket it might be their ticket to a life of foolhardiness and debauchery.

Any takers?

/s

Wolverine Devotee

Since I spend thousands of dollars of year on tickets, merchandise etc. for sports which is essentially entertainment, I think \$16 extra won't break the bank.

bgoblue02

the more you work and the older you get the more expense you have.  every pay raise will likely be met with more taxes, more insurance cost, etc etc until you get wayyy up there salary wise

ak47

What a lol terrible way to view your money. You got a trust fund I don't know about.  Seriously you are what 18 years old? take the \$10 you are throwing away and save it.  \$10 bucks a month will be over \$1,000 in a year, buy yourself something nice or put it in a savings account.  At least when you throw away money on sports you get a few hours of enjoyment rather than approximately 35 seconds.

JamieH

dude if you can make my \$120 into \$1000 in a year (guaranteed of course) then I want you running my money.

I've been lucky enough in my life to have had some money in some of the best stocks available, and I'd never turn down a 833% gain in one year.  Hell, I'd never turn down an 833% gain in a DECADE.

ak47

\$10 a month is over \$100.  I picked \$10 since that is about the diffenence in cost from buying 1 ticket compared to the 8 WD got. I guess I could have typed \$10 a month will get you \$120 if it makes you feel better.

Mgotri

The lottory is played for entertainment the same way reading this site is entertainment. If someone feels that entertainment is worth 16 dollars instead of 2 more power. Just like some people feel this site is worth donating to and other don't.