Why Trade When You Can Win $1.3 Billion Jackpot?

[i am nobody]

Odds of winning Power Ball are what, 290,000,000:1?

'Bout the same as being a successful trader??

There are about 7.4 billion people on earth. Divided by 290 million it would mean that there are only 25 successful traders all over the world.

 

[Zr1Trader]

I agree that the ticket is a great cheap dream and a way to get people to think creatively and outside the box when they otherwise wouldn't have.
I also Love how people use the opportunity to tell everyone how philanthropic they would be . "I'm such a nice person aren't I"

Yet how many of them even give to charity in a very small amount as it is....... right NOW

Rice is cheap, it can feed tons of hungry kids. Go buy them Rice, fantasy philanthropists

 

[schizo]

Odds of winning Power Ball are what, 290,000,000:1?

'Bout the same as being a successful trader??

Yeah, but no matter how you slice it, there will be a winner at some point in time. That's the only statistical fact that I care to know.

 

[prc117f]

A lottery is a tax on the mathematically challenged.

Not really. spending 1 dollar for a binary option that if it in the money you could potentially make 1.3 billion is not a bad risk.

It is a low probability limited risk with huge profit potential. You risk 1 dollar to potentially make 1.3 billion.

 

[kut2k2]

Not really. spending 1 dollar for a binary option that if it in the money you could potentially make 1.3 billion is not a bad risk.

It is a low probability limited risk with huge profit potential. You risk 1 dollar to potentially make 1.3 billion.

Yes really. No call for vagueness like "not a bad risk" when we know the exact payouts for PowerBall. But almost nobody here knows how to calculate the breakeven jackpot. Then there are the issues of taxes (50%?) and the possibility that you may have to split the jackpot with another person or persons. Any idea how to calculate or estimate the latter?

Like I said, a tax on the mathematically challenged.

Btw a PB ticket is $2 or $3, not $1.

 

[FCXoptions]

Although I did buy a few powerball tickets, if I ever play, I usually buy the mega millions ticket if between the two. A little better odds and the ticket is only $1. SOOO still terrible odds and a smaller jackpot usually, but I have 2 chances instead of just 1 for the same money.

But at $1.3 billion, I'll buy the powerball

 

[syswizard]

The basic intelligent answer to this thread is:
Trading requires tremendous skill, instincts, and intuition....a rare combination.
Power Ball requires NOTHING.

 

[lawrence-lugar]

But at $1.3 billion, I'll buy the powerball

You kind of Have to buy a ticket. it's 1.3 f'n billion. the Largest in jackpot/lotto history. all logical rationale goes out the window. -- it's kind of like the noise/emotions/rumors aspect of the markets.

I'll wait to buy my ticket on Wednesday evening, so the amount will reflect a greater value than 1.3 billion. i'll frame it over my desk. just a little fun cute historical memorabilia.

(i never play the lotto, except for this rare once)

 

[Ghost_of_Blotto]

[*]And some will even ruin their own life by trading 24/7, spent no money and reinvest everything they have and die rich after a poor life.

Or worse, take more than they ever need, could ever reasonably spend, step on toes, ignore warnings, and end up forfeiting the lot and spending a few years in a foreign jail. (c.f. Nav Sarao)

For some "successful" traders it can become a process addiction. Compulsion to keep trading and tolerance developing for the profit level leading them to push for higher and higher gains.

Sad stories really. Life offers so much more. Perhaps these examples are visible to serve as cautionary tales, but who will heed the warnings?

 

[running_bare]

LOL @ obsessive, hermit, miser, middle-aged aspies/autists on ET

They can't wait to get on their hobby horse of telling everyone "my way is the only right way"

Does everything have to be "positive expectation" to do it? LOL

For most people playing the lottery is a HOBBY / ENTERTAINMENT / FUN.
Is that so hard to understand?

Just like how some go to Vegas or Skiing or golfing or poker...for "fun".
Yes - most hobbies cost money (ie you don't make a profit on it)

Fracking aspies - their idea of "fun" is spending their whole life on ET (as their 1000's of posts on ET will attest)

LOL

Yes really. No call for vagueness like "not a bad risk" when we know the exact payouts for PowerBall. But almost nobody here knows how to calculate the breakeven jackpot. Then there are the issues of taxes (50%?) and the possibility that you may have to split the jackpot with another person or persons. Any idea how to calculate or estimate the latter?

Like I said, a tax on the mathematically challenged.

Btw a PB ticket is $2 or $3, not $1.