523
You're basically losing money if you don't (startrek.website)
submitted 2 years ago by [M] to c/lemmyshitpost@lemmy.world
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[–] 59 points 2 years ago (2 children)

It's fifty fifty. Either you win money, or you don't.

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  • [–] 33 points 2 years ago (3 children)

    Just got two Powerball tix for tonight, thanks! Since one ticket is 50%, two should basically guarantee I win!

    Gonna go kick my boss in the balls and walk out, should be fine, right? Probably.

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  • [–] 16 points 2 years ago (1 child)

    two tickets actually lowers your odds

    50% x 50% = 25%

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    • [–] 28 points 2 years ago (3 children)

    Sorry i'm the boring guy. It is (more than) 20 times more probable to lose 100% than to win 2000% in most gambling.

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    • [–] 23 points 2 years ago

    And if you lost 100% of your money last time, then you're due to win 2000% this time.

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    [–] 11 points 2 years ago (1 child)

    simultaneously laughs and sobs in leveraged investments

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    • [–] 10 points 2 years ago

    Why stop at 2000%

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    [–] 7 points 2 years ago (1 child)

    There's this thing, called debt tho...

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    • [–] 4 points 2 years ago

    Don't forget that you lose 3% to inflation every year, and even more when we are in hyper-inflation like we are now.

    Gambling in Wall Street's Casino is, by design, the only way to have a chance not to lose money.

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    [–] 3 points 2 years ago

    So true

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    [–] 2 points 2 years ago

    That's how you sell monkey pictures my man now let's all go do coke until we get divorced, Leo will be there

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    [–] 2 points 2 years ago (3 children)

    Lottery and gambling are taxes on emotionally weak people who can't do math.

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  • [–] 14 points 2 years ago (2 children)

    Lotteries unique selling point is hope.

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  • [–] -3 points 2 years ago (1 child)

    Sure, but the hope is a result of the first two issues.

    They can't do the math so they think there is a chance. And because they WANT there to be a chance they ignore every time they lose.

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  • [–] 6 points 2 years ago (1 child)

    I know you have a point, a good one, Lotteries cater to the vulnerable etc. - but you are wrong in one aspect: There are winners, in every lottery, and that's what fuels the hope.

    Even small chances are chances. It's that simple ;)

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  • [–] 1 point 2 years ago (1 child)

    When did I say there weren't any winners? I said people think there's a chance that they might win personally. And you can state the gamblers fallacy any way you like, the fact that there are winners in a lottery has nothing to with the chances of winning personally. Bad at math, bad at logic, too emotional, call it anything you like. Any hope is a result of these flaws, not the cause.

    https://www.palomar.edu/users/bthompson/Gambler%27s%20Fallacy.html

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