Euro Millions

[6thSense]

With a £141 Million Jackpot tonight, the talk amongst many people is about having a ticket or two in the draw.

I might have a couple myself.

As traders and risk-averse people I wondered what the general opinion of the Euro Millions draw tonight might be on this board. I don't mean lottery in general but this draw in particular.

Personally, I think a couple of tickets is worth the money for a brief flicker of excitement, hope and dreams.

[LinusP]

I have never bought a lottery ticket and nether will, as like my parents I will remember my original numbers and be suckered into picking them every week..

[mike121]

Got to be in it to be able to win it.

[walshy]

The chances of winning it are increadably slim you only have to look at how many people play throughout europe and how often it rolls over to see that.

I have the odd lucky dip when the jackpot gets quite high, some of the money goes to good causes and I get a few minutes enjoyment thinking about what I'd do if my luck came in.

Bit of fun, nothing more.

[andyfuller]

I wondered what the general opinion of the Euro Millions draw tonight might be on this board. I don't mean lottery in general but this draw in particular.

Tonight's draw and the lottery in general is an inverse Robin Hood imo.

[LeTiss]

I've bought 2 lines, £4

The chances of me winning the jackpot are less than Sabine Lisicki sitting on my face

[Euler]

You bastard, I can't get that image out of my head now.

[walshy]

The chances of me winning the jackpot are less than Sabine Lisicki sitting on my face

[Zenyatta]

Remember, you have a national lottery winner from NZ on this board...yours truly (although my prize of 34K was not the 1st division prize, I still overcame odds of 40 000 -1 to win)

Lotteries are small down-side, big up-side, surely the traders definition of a good thing?

The feeling of winning was surreal, like a lucid dream. I went hog-crazy, jetting off around Europe and seducing French hotties in hostel dorm-rooms. Oh yes, even now after I've blown the lot, it still feels like I was dreaming.

Nothing like winning huge

[MyOldGran]

An ex colleague of mine won £5M on the Irish Lottery a few years ago. This happened to her just a week after her husband had bought her a brand new Mercedes Convertible!

Then after saying she could never leave work she disappeared two weeks later never to return.

I am one of those that have had the same set of numbers since the first lottery draw. So that's £1 on Weds and £1 on Sat. Plus a Lucky dip for Euromillions on Tues & Sat. A total expenditure of £6 per week for the chance of life changing money, the occasional small win and the chat with friends about what we would do with it all.

I'm more than happy with that.

[steven1976]

Remember, you have a national lottery winner from NZ on this board...yours truly (although my prize of 34K was not the 1st division prize, I still overcame odds of 40 000 -1 to win)

Lotteries are small down-side, big up-side, surely the traders definition of a good thing?

The feeling of winning was surreal, like a lucid dream. I went hog-crazy, jetting off around Europe and seducing French hotties in hostel dorm-rooms. Oh yes, even now after I've blown the lot, it still feels like I was dreaming.

Nothing like winning huge

Nothing better than winning against the odds, never mind the money. I get a better buzz out of a 12/1 shot I let go in play for a few quid out of frustration, than I do for getting a large order for work. I guess, that's not the best of feelings to have for trading!

[EyePeaSea]

The chances of winning it are increadably slim you only have to look at how many people play throughout europe and how often it rolls over to see that

Slim, If you only buy a single ticket

But hard work, excellent logistics, a very strong nerve and deep pockets, turn this slim chance to an eye wateringly good gamble. There have been a few examples, but this was the first one that came up in Google:

http://www.nytimes.com/1992/02/25/us/gr ... all&src=pm


Ian

[Zenyatta]

Nothing better than winning against the odds, never mind the money. I get a better buzz out of a 12/1 shot I let go in play for a few quid out of frustration, than I do for getting a large order for work. I guess, that's not the best of feelings to have for trading!

Definitely. I agree. I can really see how people get addicted to gambling. I think the longer odds wins are surely producing some strong chemicals in the brain; dopamine and opioids, the pleasure chemicals. Certainly the euphoria of my lottery win lasted weeks.

[Zenyatta]

But hard work, excellent logistics, a very strong nerve and deep pockets, turn this slim chance to an eye wateringly good gamble. There have been a few examples, but this was the first one that came up in Google

Yes, its worth noting that occasionly, lotteries are actually a good bet (postive EV); on days where an accumulating jackpot has to terminate (there is roll-down to the next division if there are no winners in the 1st division). Also on days with big promotions where there are extra prizes added.

And in fact, ordinarily, even when the EV is negative, I argue that its still worth having a go on the lottery provided you are only spending small amounts, because there's a small downside and a big upside.

[EyePeaSea]

7 Weeks ago, I started a standing order for 1 UK lottery ticket each Saturday. Last week, I won £10, so I'm up £3. At this rate, I should make my first £1m profit in just over 44,871 years! I'll keep you all posted.

But seriously, each week that £1 per week buys me a few minutes of very happy 'what If I did win' moments. And for me, that's good value for money.