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Global War on Terror Version 6 - Perpetual Motion Machine

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FlagDUDE08 said:
You're assuming everyone who hits the big one gets paid the full jackpot value. They don't. It gets split amongst the winners.
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It can happen, under certain plausible conditions, that the best action is to buy. As its noted, it has to beat taxes, it has to beat odds, it has to best inflation or the lump sum cut, and the possibility of massive buy in splitting the pot amongst several winners.

That being said, while difficult, this is not impossible.

Over the decades there have been examples of people trying to buy every combination... Usually the law gets changed soon after. About 10 years ago somebody tried to pull a similiar stunt in Massachusetts buying a high percentage of possible combinations. The lottery tried to change the law on the fly leading to a lot of annoyed people.

These people, who are throwing serious cash, have surmised at some point it becomes an investment more than a pure gamble. Fact is, under certain circumstances it becomes financially logical. For most of us its a high variance bet which is obscenely likely to result in a loss. But, from a risk calculation involving pure dollar totals as my endpoint then there is a point where playing makes financial sense.

Value/odds*taxvig*payoutoptionfactor/expectnumberofsharedwinners > ticketprice
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

St. Clown said:
Yes, future raffles would be impacted, but that current year's raffle. After a few years they did adjust the raffle upward due to high demand. They increased the prizes and increased the number of tickets sold. Still, regardless of that first year's sales, someone was going to win that million dollars.
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Sure. But the premise stands that these things are fixed so the payoffs are less than the payins, recognizing there could be an aberration here and there before an adjustment is made. If people somehow find entertainment value in this, that's at least some sort of reason for doing it. Other than that, as Dave Ramsey said, it's a tax on the poor and those who can't do math.
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

Bob Gray said:
Sure. But the premise stands that these things are fixed so the payoffs are less than the payins, recognizing there could be an aberration here and there before an adjustment is made. If people somehow find entertainment value in this, that's at least some sort of reason for doing it. Other than that, as Dave Ramsey said, it's a tax on the poor and those who can't do math.
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I agree with this completely, which is why I rarely buy a ticket. Sometimes I do because it can be fun to have the occasional daydream.
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

St. Clown said:
I rarely buy a ticket. Sometimes I do because it can be fun to have the occasional daydream.
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Totally concur, a $1 daydream can be worth the outlay.

For some reason your post reminded me of one of my all-time favorite quotes from Thoreau:

Go ahead and build your castles in the air, for that is where they belong.
Now go and put foundations under them.
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Re: Global War on Terror Version 6 - Perpetual Motion Machine

If someone says to me, "I plan to hurt you."
(not, "I feel like," or "I wish," or "it would be nice if,", but I "plan to")

Then isn't it just basic common sense to at least prepare to defend yourself as if they really meant it?
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

Guy tried to hijack a plane, failed, and is now dead.

What they won't tell you: Not only was he Muslim, but also black. And yes, he can't breathe.

Still an American, though. No trial. Cops are still judge, jury, executioner, and victim. At least let a jury of 12 try him for treason and then dole out the death sentence.

http://patriotnewswire.com/2015/01/...ed-trying-hijack-airplane-u-s-youre-not-told/
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

Bob Gray said:
Sure. But the premise stands that these things are fixed so the payoffs are less than the payins, recognizing there could be an aberration here and there before an adjustment is made. If people somehow find entertainment value in this, that's at least some sort of reason for doing it. Other than that, as Dave Ramsey said, it's a tax on the poor and those who can't do math.
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I'm surprised there isn't a more effective movement to end the lotteries. From the left, it's obviously just an ugly type of regressive revenue collection. From the right, the idea of "striking it rich" undermines their whole (for the most part, delusional) association of wealth as a reward for hard work.
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

Kepler said:
I'm surprised there isn't a more effective movement to end the lotteries. From the left, it's obviously just an ugly type of regressive revenue collection. From the right, the idea of "striking it rich" undermines their whole (for the most part, delusional) association of wealth as a reward for hard work.
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From the fascists, it's putting a smile on the voter's faces, it's bringing in money, and they don't give a hoot where it comes from. Heck, look at how New York City-state approved a whole bunch of full casinos for the state.
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

FlagDUDE08 said:
From the fascists, it's putting a smile on the voter's faces, it's bringing in money, and they don't give a hoot where it comes from. Heck, look at how New York City-state approved a whole bunch of full casinos for the state.
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Wasn't NYS one of the first to have a state lottery?

Personally, I blame the Irish for their d***ed Irish Sweepstakes!
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

joecct said:
In Potsdam, Ogdensburg and Olean? :)
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St. Lawrence County's rights are held by Akwesasne, and the Southern Tier (although Olean's probably in Seneca Alleghany territory) got jipped. They are in Schenectady, Tyre (just off Exit 41 of the Thruway in Seneca County), and I can't remember if the third is in the Buffalo area or somewhere in the Catskills.
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

FlagDUDE08 said:
From the fascists, it's putting a smile on the voter's faces, it's bringing in money, and they don't give a hoot where it comes from. Heck, look at how New York City-state approved a whole bunch of full casinos for the state.
Click to expand...

The "lottery pays for schools" argument is particularly deceitful. For every dollar they assign to education from the lottery, they short the general fund. There is no net gain for education funding. All lotteries do is pull the center of gravity of taxation down the income scale.
 
FlagDUDE08 said:
St. Lawrence County's rights are held by Akwesasne, and the Southern Tier (although Olean's probably in Seneca Alleghany territory) got jipped. They are in Schenectady, Tyre (just off Exit 41 of the Thruway in Seneca County), and I can't remember if the third is in the Buffalo area or somewhere in the Catskills.
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If it's in the Catskills they can revive the Borscht Belt. Some of those resorts are still standing but vacant. Some even still have furnishings.
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

Kepler said:
The "lottery pays for schools" argument is particularly deceitful. Every dollar they assign to education from the lottery they short out of the general fund. There is no net gain for education funding. All lotteries do is pull the center of gravity of taxation down the income scale.
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Believe it or not, I'm all for casinos and responsible entertainment. And if a state wants to generate revenue, rather than harassing the populace with folks that have a magic badge, they can put some skin in the game. Where I see the problem existing is the forcing of a monopoly on doing so. There's nothing wrong with private casinos, especially if they're audited by firms such as KPMG, Ernst & Young, or any of those others. As for who is participating, caveat emptor.
 
Re: Global War on Terror Version 6 - Perpetual Motion Machine

FlagDUDE08 said:
Believe it or not, I'm all for casinos and responsible entertainment. And if a state wants to generate revenue, rather than harassing the populace with folks that have a magic badge, they can put some skin in the game. Where I see the problem existing is the forcing of a monopoly on doing so. There's nothing wrong with private casinos, especially if they're audited by firms such as KPMG, Ernst & Young, or any of those others. As for who is participating, caveat emptor.
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Wonder if they can do the same thing with drugs and prostitution? If it's FOR THE CHILDREN they should be able to pass it.
 
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