tag:blogger.com,1999:blog-3758330678390419129.post1926342612647005426..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: No Powerball Winners, Jackpot Grows to Estimated $1.3 Billion; Does It Makes Sense to Play?Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-3758330678390419129.post-29235089941412460752019-01-22T08:39:13.736-05:002019-01-22T08:39:13.736-05:00Great analysis!Great analysis!Evan Brownshttps://www.blogger.com/profile/04990998873293029159noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-356758962635393342016-04-19T09:28:16.351-04:002016-04-19T09:28:16.351-04:00We have to choose a game with better chance of win...We have to choose a game with better chance of winning, like Australian lotteries! We have one chance in 45 millions to predict <a href="http://australian-lotto-results.com/ozlotto" rel="nofollow">Oz Lotto results</a> ! It's much better that in PowerBall ! Paul Albinsonhttps://www.blogger.com/profile/02015201190480816678noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-80929215745482158322016-02-01T08:04:21.201-05:002016-02-01T08:04:21.201-05:00no reason to play, no reason to believeno reason to play, no reason to believeAnonymoushttps://www.blogger.com/profile/18039770410774272661noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-5980335644656225152016-01-12T09:17:48.475-05:002016-01-12T09:17:48.475-05:00I hope that the Powerball-driven cash fever will d...I hope that the Powerball-driven cash fever will die out tomorrow. The media is going crazy about it, <a href="http://localotto.com/thelotter-review" rel="nofollow"> thelotter review</a>. Still I think it won't be a great loss buying one ticket just for fun even despite the above reasoning. Clark Paulsonhttps://www.blogger.com/profile/15713324055388258075noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-86617653559793360672016-01-12T02:59:46.769-05:002016-01-12T02:59:46.769-05:00Cool analysis. It does however give you a real wor...Cool analysis. It does however give you a real world example of what such astronomical odds really mean in real life. For so many millions of players and still nobody wins is a sobering demonstration.Robert What?https://www.blogger.com/profile/03863449539859132763noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-51375122164068112792016-01-11T22:49:16.176-05:002016-01-11T22:49:16.176-05:00At issue, from a Misesian standpoint, is the use o...At issue, from a Misesian standpoint, is the use of class probability when the issue at hand falls under case probability. <br /><br />Payout nonsense only begins to works when the player is going to play an infinite number of plays or if all players pool their tickets in a collective effort.<br /><br />Otherwise, keep your money in your wallet unless your enjoyment of a chance to win exceeds Jimhttps://www.blogger.com/profile/01735183858607950554noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-72954034327577835522016-01-10T23:50:17.530-05:002016-01-10T23:50:17.530-05:00What are you going to do with your $2.00 in "...What are you going to do with your $2.00 in "winnings"?Robert Wenzelhttps://www.blogger.com/profile/14296920597416905488noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-29888240231746511412016-01-10T23:13:55.991-05:002016-01-10T23:13:55.991-05:00I already won last weekend by not playing. I will ...I already won last weekend by not playing. I will win again but not playing Wednesday.Christianhttps://www.blogger.com/profile/07383095929024216356noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-59466728137090306352016-01-10T15:49:52.155-05:002016-01-10T15:49:52.155-05:00I'm surprised Tabarrok fails to highlight the ...I'm surprised Tabarrok fails to highlight the non-monetary rewards, which Matt Murphy touches on. <br /><br />Here's a great article by David Ramsay Steele highlighting these: “Yes, Gambling Is Productive and Rational”, Liberty (1997) (Reprinted in A Rhetoric of Argument by Jeanne Fahnestock & Marie Secor.)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-2772472026781678622016-01-10T14:49:36.250-05:002016-01-10T14:49:36.250-05:00I always tell people who tell me about playing the...I always tell people who tell me about playing the lottery, "At least I can't loose if I don't play".theageofnowhttps://www.blogger.com/profile/16684732649465149601noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-35991048045348242452016-01-10T13:14:22.666-05:002016-01-10T13:14:22.666-05:00It makes for great daydreaming as to what I would ...It makes for great daydreaming as to what I would do with the winnings. The odds are far to low to ever tempt me to participate, despite the interesting math.Matthew Murphyhttps://www.blogger.com/profile/06967357155163097445noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-66248359865510787172016-01-10T13:05:10.037-05:002016-01-10T13:05:10.037-05:00Penn Gillette had a very interesting question on h...Penn Gillette had a very interesting question on his December 27th podcast. He asked would you have a better chance at collecting a payout playing the lottery or taking a life insurance policy out on a stranger, celebrity or relative? I am sure the odds are much better to take the policy than to play the lottery. This however is based on a $1 million policy vs. $1 million lottery, but it could beTheCroatoanhttps://www.blogger.com/profile/08641157706390419637noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-31455356431950153412016-01-10T12:17:40.940-05:002016-01-10T12:17:40.940-05:00I get a kick that if one takes the cash payout, mi...I get a kick that if one takes the cash payout, minus taxes one ends up with ~483 mil (out of the projected 1.3 bil annuity)which is close to a third of the advertised jackpot. Since the govt lottery does it, A-OK; if a private company did that? Standby for the state or fed AG's lawsuit. None of this diminishes the fun of wondering what you would do so that you don't come back in the nextAnonymoushttps://www.blogger.com/profile/16239830609914354858noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-35101922369964523382016-01-10T09:54:15.490-05:002016-01-10T09:54:15.490-05:00Neat analysis. However, worth noting it is immora...Neat analysis. However, worth noting it is immoral to play. Participation in the lottery at all is voluntarily contributing to a program that raises funds used for aggression.Anonymousnoreply@blogger.com