My daughter posted a website to me yesterday. It was a Powerball simulator. I ran the simulation for 50 years, spent $10,500 and got a return of $924, less than ten percent of what I spent. Your mileage may vary, but the best I could do was hit three of the white balls ten times. I got the Powerball right 140 times. Woo hoo!
But the argument is, no matter how many times someone tells you that the definition of a lottery is a tax on a person who is bad at math, that someone has to win. And that would be correct, but a lot of people are not. There was a 16% chance that the Powerball could have rolled over again to this weekend, that's how many numbers had not been drawn yet. And, someone did finally win. The Powerball actually had three winners this week, one in Florida, one in Tennessee and one near me, about ten miles away in Chino Hills, CA. Someone is very wealthy down here in California. I hope it's an unmarried woman. Then everyone will be able to call her Miss Fortune.
That got a smile out of me...always like a good pun.
ReplyDeleteGlad you enjoyed it. I also enjoy a good pun.
DeleteI ran that simulation and I figure that's about the way it go in reality. -not a winner
ReplyDeleteI've run it three different times. The best I've gotten is three numbers and the Powerball. Not much of a winner at all.
DeleteI had to go run that simulation. I did the quick pick option for 26 years, figuring I'll be retired (hopefully) by then.
ReplyDeleteI spent $5,334. I won $329. Not a good return.
But it's something I enjoy doing because it allows me to dream some. Can't win if I don't play. I figure somebody has to win, so I may as well try!
Best I got on the simulator was three white. I had two and the powerball. I might let it run for a while and see what happens over like 100 years.
Yeah. It's definitely a tax on people who are bad at math. But most gambling is. If you go about it like it's entertainment and you spend like it's entertainment money, then whatever you win is entertaining. People who go to visit Las Vegas expecting to win are stupid. You go to Vegas to have a good time. If you're extremely lucky, you'll break even or come out ahead.
DeleteWith one ticket (quick pick), it took me 2,322 years to win what I make in a year, and at the same time I would have spent $482,962.
ReplyDeleteTotal drawings: 241,481
4 white: 6 times
3 white+Powerball: 18
3 white: 426
2 white+powerball: 362
1 white+Powerball: 2649
Powerball only: 6227
I can sense a blog post for me with this when the challenge is over!
I look forward to that.
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