Lotto is the idiot tax

Stupid

The odds winning buying hundreds of tickets is the same as buying one lmao

How much tickets you think he has and how much did he pay for the ''increased odds'' compared to the average buyer of maybe 1-3 tickets?

Link to the livestream of his suicide on lotto night please

t. brainlet

But user, it says tax 0.00

$2 is statistically the same as this. And it’s not that bad for the dream, imo.

ONIONS

think about it moron. if you buy one ticket your chance is 1 in 300,000,000. if you buy 1600 tickets its 1600 in 300,000,000.

When this guy doesn’t win and it’s revealed that some grandma in bunfuck Wyoming got 2bil from buying a single ticket with spare pocket change on a whim he will probably hang himself.

this

TBF, lots of other prizes in the lottery, this guy could hit a 10K or 100K and make a great profit. Seen people throw away 3 grand on a bad options call. Seen a guy accidentally throw away 25K on a friday options call that was at "AM" and he fucked up and wanted the PM calls.

Lots of idiotic ways to waste money.

>3200$ "investment" in lottery
>only makes you have about 0.000001% better chance at winning

okay this is epic

Oh I actually looked it up, 10K and 1M. Next rank down is 500 bucks lol

he means EV

No its not u stupid fuck

EV is a fucking meme when applied to mega millions

Yeah I don't regularly play but I'm going in for $2 today. It's a world record jackpot so why not

Okay OP, since no ones figured it out I'll expose your trick.

OP's screenshot is of his own receipt. He made quite a bit in crypto, converted to cash via local bitcoins, and this is his way of laundering his money.

Fuck you got me

i am an inteligent

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it's more like 1600 in 300,001,600. basically the same exact odds

>and this is his way of laundering his money.
Unless he owns the lottery he’s not laundering anything, do you even know what laundering is?

>1:187,500 is the same odds as 1:300,000,000
Don’t quit your day job

Not true, but the odds are still extremely small either way.

>Lotto is the idiot tax
Lol. This guys an idiot. I wonder if he'll kill himself once he gets half way threw and the weight of reality comes slowly crushing down upon him that he'll be eating at the soup kitchen for xmas

based and redpilled

actually he should quit his job, he's probably worse at it

I think you're giving this person too much credit that this thought will ever appear.

He's going to write off the lotto as charitable donations on his taxes for his legit money.

I bought 3 tickets. 1 in 100,000,000 approximate odds to win the jackpot. So this guy bought 1600 tickets for a 1 in 187,500 chance. So he's averaging, relative to my $6 for a 0.0000001% chance at winning the lottery, $1600 for his 0.000008% chance (assuming they only do single tickets; my state has no jackpot only option for bonus tickets, it's just $2 a play).
0.00000001% for $6
0.000008% for $3,200
0.00000799% for $3,194
0.0000000025~% per dollar past the initial $6
Diminishing returns putting more money in; you do increase your odds, but it becomes less cost effective the more you dump in, and still too much of a gamble for me to comfortably dump my life savings into it.

>He's going to write off the lotto as charitable donations on his taxes for his legit money.
You can’t write off the cost of gambling unless you have gambling winnings to deduct from; if he wins $0 he can deduct $0.
Even if he could write off the cost straight up, you would get so little back in comparison it would be far more worth it to pay taxes on the capital gains in the first place

What would Jow Forums do they won?

Audibly kek'd

Idk enough about statistics to verify this, but you sound like you know what you're talking about. Thanks user.

Poorfags don't itemize.

This is correct. The best way to play the lotto is to have one ticket since it does suffer diminishing returns. The other option is to not play

Just bought one ticket and a snickers bar with the change i found in my couch.
Wish me luck you guys!

The lotto is so unbelievably stupid, it's actually incredible.

Wish it was easier to start your own. Money for nothing

That’s why it’s illegal.
You can do it with crypto but the normies that make the lotto so huge don’t do crypto and transaction fees alone in most coins with the volume for a lottery cost more than a real ticket

Retard

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This

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I can't stand the fucking smug midwits who say shit like this.

Guy in pic who spent that much is a retard though.

It’s not being smug, it’s the truth. Playing the lottery is dumping your money into a fire. It’s the retard tax.

Rich people don’t play the lotto because they’re smart, and over a third of lotto winners go broke because they’re morons.

preach

They’re poor and poor people have no money management skills because they never have money to begin with. They blow it al because they develop addictions to cope with being poor and when rich have nothing to keep their addictions in check so they essentially OD and go back broke.

Buying a ticket only slightly improves your chances.

t. I still buy them every now and again

>and over a third of lotto winners go broke because they’re morons

Try 70%

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Try 90%
IIRC that's the statistic on any lotto money making it past grandkids (i.e past your lifetime)

Rich people don't play, true. Although, not because they are smart but because they are already comfy.

Most people who play don't play because they think they can win but because the possibility of winning helps them through their normal shitty days. It's an investment in mental health.

Sure, if you want to be smug you could call it "poor tax" but saying that it is "idiot tax" makes you both smug and an idiot.

Anyone have a link to his course released yesterday?

what are you doing on Jow Forums? You belong in 4th grade.

There are better, more efficient, more concrete ways to invest in your mental health than buying a worthless piece of paper for $2. Even as a cope it’s pretty shit, there’s much better stupid shit you could use that money to cope with.

It’s not a poor tax because there are well off people that still play, and poor people that are smart enough that don’t. It’s the idiot tax.

Holy fuck I was reading a thread last night about the lotto and went to sleep. Had I dream where I withdrew over $40,000 from my savings and spent them all on lotto tickets. It was a nightmare as I sat at home trying to check all the number to see if I won.

>There are better, more efficient, more concrete ways to invest in your mental health than buying a worthless piece of paper for $2.
Such as?

it is an idiot tax though

anyone who knows statistics knows this

For only 2$, pocket change, you can have something to look forward for a whole week or more, nullifying much of your stress and anger. I find it to be a great way to cope. Obviously it won't make, say a depression go away -- I never meant that. Sure there are poor people who don't play play but it does not make them any smarter. It just doesn't work for them as a cope. For me it does.

I've studied my fair share of statistics but I still partake in lotteries once in a while. What I said, if you were able to read, is that it works towards brightening up your day and has nothing to do with logic or being good at math.

Are you really this fucking stupid

My dad has a degree in stats and he says buying one ticket is fine. The problem is these fucktards that think buying more tickets increases their odds in a meaningful way.

>Decide to buy a ticket because >$1b
>buy a PB too because why not
>both lose
Fuck this shit, wtf is the point of even buying these things. Literally changed my instrumentally valuable papers into worthless papers

>lotto is stupid XD
Calculate what the jackpot has to be for the EV to be positive on a play assuming multiple people do not hit the jackpot. If the EV is positive, why is it still dumb to play? If you can't answer this, you are a brainlet

>falling for obvious bait

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kind of fitting that the board that's obsessed with get rich quick crypto scams buys lottery tickets lmao

It is -EV by definition. That's why we call it stupid tax. Lotto takes their cut, government takes their mega cut, what you're left with is -EV relative to your odds of winning it.

>99.999999997% chance of losing yoir entire investment
>0.0000000033% chance of winning the jackpot
I can’t be bothered to calculate for smaller prizes. Doesn’t matter anyway.

only if each of the tickets you buy have the exact same numbers

dude, the numbers that get drawn have absolutely nothing to do with how many tickets were purchased. if you were the only person to buy a ticket, your odds would still be 1 in 300,000,000, not 1 in 300,000,001.

It's like a 1/65 (I think the mega nut/powerball goes to 65 for the single ball) chance of doubling your investment at the lowest prize tier.

Just remember that Elliott Rodgers, clinically insane, believed he was going to win and drove hours to buy tickets.

Delet

>Most people who play don't play because they think they can win but because the possibility of winning helps them through their normal shitty days. It's an investment in mental health.

hitting to close user

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Easy to agree

Fuck, this hits hard.

i would be happy if the winner was from Jow Forums

my post eqauls my lotto nimbers

Wrong.
t. Poor

Rich people 100% play the lotto.

I'd buy Jow Forums and unironically put 1/4th of it into crypto.

He should have put all that money into chain link.

The ticket would have to be 5 cents for you to even consider calling the bet. $2 is -EV ideally buying one ticket for less than 1 cent to win 1.6 billion would make sense.

this

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Isn't it 1 in 36,300,000,000?
70×69×68×67×66×25

hey who knows maybe he'll win

>retards
Unless nobody wins. Then the money piles up. You don't need to have contributed to previous jackpots to win the current jackpot. The odds of winning the jackpot are 1:250million. It costs $2 to play. If the post-tax lump sum payout is >500 million and you don't share it with other winners, it's positive EV. There was a cartel a while back that bought every single ticket combo when the lottery was positive EV. They got unlucky and 5 other people had the same numbers but the principle stands.

I didn’t consider rake.

You could do it yourself. Its a simple google search away you brainlet.

goodluck

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but I cleared 100x returns, lol.

If not larp, you're just one of the few lucky ones.