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Powerball lottery: spend vs win thread

Discussion in 'The Okie Corral' started by cowboy1964, Aug 16, 2012.

  1. cowboy1964

    cowboy1964

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    Lotteries in general have horrible odds. You're better off going to a casino and it would last longer and be more fun.

    So let's hear what you've spend vs won on the Powerball.

    8/8/12 spent $20 won $0
    8/15/12 spend $30 won $12
     
  2. HerrGlock

    HerrGlock Scouts Out CLM

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    If I take my boys to a theme park it costs about $75 to get in. Call it $50 for ride tokens, $75 for food and $50 for junk they want (and will lose in a few days). $350. That's a CHEAP theme park for one day. After that you have memories and that's about it.

    For $5 I get a week to figure out what I would do, how I could spend it and where to put all the tax sheltering excess. 5-7 whole days of "what if"

    Seems to me a lottery ticket is cheap entertainment overall.
     

  3. PaulMason

    PaulMason

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    The value of those lotteries is to dream about winning. It is like having a drink and relaxing. I don't think I'll win. I guess over a year I might spend $75.00

    If a person spent $20.00 a week that would $1,000 a year. That is a lot of money to me and not a good investment.
     
    Last edited: Aug 16, 2012
  4. 1-2man

    1-2man Part Time

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    I have a buddy who spends about $50-75 a week for as long as I've known him (going on 10 years now.) He's actually spending more now as the ticket prices on one of them recently went up (can't remember which.) I know he's won a couple hundred bucks here and there but that's it. He actually pre-pays for the month so as not to miss drawings. :faint: Crazy if you asked me. I might throw $5-10 when it gets ridiculous but that's about it.
     
  5. PaulMason

    PaulMason

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    That is why they call it the 'stupid tax'.

    How much does he make in a year? I can not believe how much people spend on this stuff. And it is usually the people that can least afford it.
    Over 10 years your friend spent 39,000 in after tax income if he pays 20% in taxes that it $46,000 in pre tax income.


    75 52 3900 10 39000
     
  6. BuzznRose

    BuzznRose

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    I play the same numbers every drawing for both Powerball and Megamillion. Costs me $6 a week = $312 a year to make sure my numbers never hit the big jackpot!

    I may buy an extra quick pick whenever the jackpot goes over $100M just to feel good. Not always, so maybe $400 total all year?

    My wife and i both work and are frugal. I rarely buy booze at a bar or restaurant, we quit smoking years ago, don't golf much, etc. Bullets and fuel are my biggest recreational expenses, so no big deal.


    Outdoor Hub mobile, the outdoor information engine
     
  7. 2bgop

    2bgop

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    I would guess I might spend 25 bucks a year on megamillions. That is less than one roll at the carps table.