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Buick35

Lottery winnings

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I'm really glad I found this forum because the cars for sale section is the first place I'll go to when I hit it big in the lottery. Either a large classic thirties car or a nice big brass touring car, what the heck, I'll get both! I even thought a steam car would be cool. Greg.

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Lets say you won a significant sum, lottery etc. What hobby related purchase would you make ? Cars, shop etc ? A life long favorite car that is otherwise beyond your means.

 

 

 

Greg in Canada

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1920's or earlier Indian Motorcycle

Black Dues Torpedo Phaeton 

1930 DC 8 Roadster with RS and Golf Bag storage

Graham Bros GBOY for farm truck unrestored

1000 Acres in Alpine AZ

40,000 SF machine shop fully insulated and loaded

500 SF one room log cabin - In that order :D

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Having been born and raised in the United States of America, I have already “won” the lottery by anyone’s definition. Money is just a tool, and while important and centeral to all our lives, living in the greatest country that has ever existed at this time in history is better than any monetary windfall. That being said, would you like to know my lotto numbers? ?

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I`ve wasted enough money on the Lottery to have bought a nice old car..  I now don`t play the Lottery, but I do invest in my `36 Buick..

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1 hour ago, Buick35 said:

I'm really glad I found this forum because the cars for sale section is the first place I'll go to when I hit it big in the lottery. Either a large classic thirties car or a nice big brass touring car, what the heck, I'll get both! I even thought a steam car would be cool. Greg.

Excellent choices.

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For a brass car I think I might skip the obvious Stutz Bearcat or Mercer Raceabout and choose a Stearns 30-60 or perhaps a Lozier Briarcliff

08-Stearns-30-60_DV-10-GG_01-800.jpg

1910LozierBriarcliff.jpg

Edited by 1912Staver (see edit history)
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I remember seeing the odds printed on the back

of a friend's Lotto ticket, and I calculated they are

the same as the following:

 

Pick a date between now and the end of World War II.

Guess the month, the day, and the year.

Now also guess the correct hour and minute, A.M. or P.M., on that date.

For example, February 3, 1949, 12:47 P. M.

 

If you can guess correctly that very minute that occurred

in the last 70-plus years, those are the odds you have.

"Someone's going to win--it might as well be you."

"Think what you'd do with the money."

Lotteries work because huge odds are difficult to comprehend.

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I wish I could claim credit for this, but I can't:

 

A LOTTERY IS A TAX ON PEOPLE WHO FAILED MATH.

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Lottery's are a big revenue generator for the various levels of  government here in Canada. Some refer to them as an extra tax on the gullible. 

 

Greg

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And at the donut shop I visit occasionally (no more than once every ten days), a daily customer is a retired gent who buys one donut and a cup of coffee, and take all the change from a $20 bill in lottery tickets.  Say $17/day x 365 days per year = $6, 205 per year......

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I'd be happy winning enough to finish the house and yard, and restore everything I have now. Crew cab Ford and enclosed trailer and the best restored Type 37A Bugatti and 8C2300 Alfa.  Bob

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14 minutes ago, Grimy said:

And at the donut shop I visit occasionally (no more than once every ten days), a daily customer is a retired gent who buys one donut and a cup of coffee, and take all the change from a $20 bill in lottery tickets.  Say $17/day x 365 days per year = $6, 205 per year......

Maybe he replaced smoking with Lottery tickets, could you please do the math on that addiction?

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9 minutes ago, 1937hd45 said:

I'd be happy winning enough to finish the house and yard, and restore everything I have now. Crew cab Ford and enclosed trailer and the best restored Type 37A Bugatti and 8C2300 Alfa.  Bob

Just an 8C 2300? I wouldn't settle for anything less than a 8C 2900.

 

Greg

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18 minutes ago, 1937hd45 said:

Maybe he replaced smoking with Lottery tickets, could you please do the math on that addiction?

Sure!  One pack a day in The Pipples' Republik of Caleeforneeya is $8.75/day x 365 days/year = $3,194 per year, a little more than half what he's spending on the lottery.

 

On the other hand, in the immortal words of Ambrose Bierce, "A woman is only a woman, but a good cigar is a smoke!"

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I spent all my money on whisky, women, and Pierce Arrows, and never wasted a cent! Don’t ask which one was the most expensive, or was the best return on the dollar! ???

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When I hit it big in the lottery. 

 

It is not that great.. I was  much happier being poor.. 

 

I am  still poor. but have a few things..

 

 

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I already wasted too much money on the lotteries. If I could have back every dollar I ever spent on lottery tickets in the past thirty years? I might have enough to buy one new tire for my model T! (In other words, I never spent much on lotteries, because I understand the odds.) I did sometimes decide a lottery ticket was a better buy than that ice cream I really shouldn't eat anyway..

 

One thing most people do not understand. "The odds of winning the lottery". Certainly, the best bet? Is not to waste even a single dollar, ever. But it is fun to dream. And a dollar now and then instead of that ice cream or potato chips, is alright (I guess)?. However, beyond that one dollar bet? What about choosing five, ten, or a hundred tickets for a given drawing? FORGET IT!!!! 

Odds of course vary from lottery to lottery, depending on the twists and turns of five numbers? Or six? Out forty? Fifty? Sixty? Or some combination of a few numbers plus a mystical magic "other" number? So, for the sake of discussion, let us say that the odds of winning a given drawing are one in twenty million (for a single ticket)?  What are the odds of winning if one were to buy two tickets?  Would you say one in ten million? You would be totally wrong wrong wrong! The simple way to say it, is that the odds are two in twenty million. But what does that mean in the real world?

First and foremost, that "odds of winning" at "one in twenty million" is a nice easy to say "round" number. The real odds are something like "1 in 20,987,654" (number given just a random choice for the sake of discussion). So, how much do the odds change with each ticket added to the previous ticket? That real number is difficult to explain, and it has been a long time since I actually ran those numbers. Suffice to say, the change is very small, sort of a sliding scale that begins at somewhat less than one, and grows larger as many more masses of numbers are added. So, the first ticket is "1 in 20,987,654" the second ticket is about "1 in 20,987,653 2/3" (actual odds shift varies depending on the specifics of the original computation based upon number of numbers and "magic" numbers). But that is also only part of the real world way such things work.

In simple round numbers, for the sake of discussion, the odds of one ticket winning are about one in twenty million. Guess what. That one didn't win. So what are the round number odds of the second ticket winning? Also one in twenty million. That one didn't win, so what are the odds of the third ticket winning?  (Okay, lets skip ahead a bit.) What are the odds of the one hundredth ticket winning? Still one in roughly twenty million. Whether you buy one ticket? Or a hundred? The odds of you winning with ANY of them are roughly one in twenty million. 

So, IF you wish to play? Invest (squander?) a buck instead of munching on those potato chips your waistline does not need? Buy ONE ticket. Hey! Your odds of winning jump from zippo to one in twenty million for a buck. However, unless you wish (and can afford) to buy more than a million tickets at once! Any additional tickets you buy do not increase your real chance of winning by more than the proverbial gnat's eyelash.

And if you do buy a million tickets all at once? You still have an ninety five percent probability of losing nearly all of your money. Give THAT a few minutes thought.

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If your chances of picking exactly the right combination of a finite number of possible sequential variables (1 in 20 million being the example) , then in fact 2 kicks at the can does give you an overall 1 in 10 million chance. Your last sentence , the 95% chance of taking a haircut , by definition implies that you have a 5% chance to prevail. 

 

But O.K. As long as I'm up I'll play. Just play now , I have never bought a lottery ticket in my life. I seldom engage in a game of chance , less even so as I age. Overall , however I have quit while I am ahead. If you add up all monetary wagers I have made , in Nevada , Sports bets , nags , cockfights , cards , The Immaculate Conception, (thank you , John Houston for your tip on how to gag a boorish a'hole) , the early realization of the proclivities of Rod Steiger's character in "The Sargent" , and so on , I have come out somewhat to the good. Alright , in some alternate universe , I played and won the lottery. And since we are in FANTASYLAND , you all know what I would run and do. Go wherever in the World "my" 1930 Mercedes-Benz SS 38/250 is and make the present fortunate owner an offer he couldn't refuse. Only way I can actually win is that I would like to see it one more time before I check in at the check out counter.  Chassis no.36260. Engine no. 77633.

                                                          Anyone know where it is ?  Thanks,.  - Carl 

 

 

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A LOTTERY IS A TAX ON PEOPLE WHO FAILED MATH.

 

 

except that, my cousin won 20 years ago.................. who cares about math?

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1 hour ago, mercer09 said:

A LOTTERY IS A TAX ON PEOPLE WHO FAILED MATH.

except that, my cousin won 20 years ago.................. who cares about math?

 

And is the typical lottery winner still ahead, after years of spending on lottery tickets?

Does the winning satisfy his desire, or does it addict him even further to the lottery?

Does the typical winner save and invest his winnings, so that the money is many times

larger years later?

 

Mercer, we wish your cousin well and hope he has avoided the pitfalls so common

to other lottery winners.  However, sorry to say, the few winners don't

disprove the mathematics.

 

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