Powerball is usually a negative expectancy play, however for people with a non-linear utility value for money (usually poor people) it might
be a play. When you look at things from another persons perspective you learn.
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Nordo wrote Powerball is usually a negative ev play. Are you kidding? Even at the record high I doubt it is positive after you take the huge tax bite. Powerball players don't get the special hedge fund manager tax rate.
Mr Crimm is correct when he says this is a tax on the poor and the math morons. Full disclosure I do contribute to an office pool when jackpots get high because I don't want to be the one guy left out. We only have an office pool when the jackpot gets really high and there is some entertainment value in listening to everyone's plans for their share of the jackpot.
--- In vpFREE@yahoogroups.com, "nordo123@..." <Nordo123@...> wrote:
Powerball is usually a negative expectancy play, however for people with a non-linear utility value for money (usually poor people) it might
be a play. When you look at things from another persons perspective you learn.[Non-text portions of this message have been removed]
Full disclosure I do contribute to an office pool when jackpots get high because I don't want to be the one guy left out. We only have an office pool when the jackpot gets really high and there is some entertainment value >in listening to everyone's plans for their share of the jackpot.
There is also positive EV in that situation in NOT being the only dumb SOB left in the office to do all the work, after everybody else bails out with their winnings ; )
Certainly the game is rigged. Don’t let that stop you; if you don’t bet, you can’t win. -Lazarus Long
In theory, there is no difference between theory and practice. But, in practice, there is. -Yogi Berra
There
is no such thing as luck. There is only adequate or inadequate
preparation to cope with a statistical universe. -Robert Heinlein
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Unless there's some angles like Cash WinFall:
--- In vpFREE@yahoogroups.com, "kcace1024" <cy4873@...> wrote:
Nordo wrote Powerball is usually a negative ev play. Are you kidding? Even at the record high I doubt it is positive after you take the huge tax bite. Powerball players don't get the special hedge fund manager tax rate.
Mr Crimm is correct when he says this is a tax on the poor and the math morons. Full disclosure I do contribute to an office pool when jackpots get high because I don't want to be the one guy left out. We only have an office pool when the jackpot gets really high and there is some entertainment value in listening to everyone's plans for their share of the jackpot.
--- In vpFREE@yahoogroups.com, "nordo123@" <Nordo123@> wrote:
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>
> Powerball is usually a negative expectancy play, however for people with a non-linear utility value for money (usually poor people) it might
> be a play. When you look at things from another persons perspective you learn.
>
>
> [Non-text portions of this message have been removed]
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