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are scratch cards a good bet?

Discussion in 'Non-Vegas Chat' started by Gomar, Jan 15, 2015.

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  1. Gomar

    Gomar Low-Roller

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    comparing the $20 NY card to Win4, 1:10k - $5k, but card has $10k for 1:50k odds. Even better than QD for 7spot.

    However, 20 QD tickets decrease odds to 1:2000 for $5k.

    Ifcourse, jackpot cards are limited, but not in QD, Win4, Take5, etc. no point to play a card if all jackpots were won... unless you play for say $100 or $500.

    Thus, is it better to buy $20 of a lottery game to reduce odds, or play a $20 card?
     
  2. VegasDave

    VegasDave Addicted

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  3. nostresshere

    nostresshere Mr. Anti Debit Card

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    Really? One is better or worse than the other? Okay, statistically that is true. Unless you pick the winning one. HA HA
    These are all long shot gambles.
     
  4. Joe Strummer

    Joe Strummer VIP Whale

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    In NY.......my circle of Scratch Off Ticket players....
    ALL AGREE !......in the recent years --
    the lottery has "tightened" these tickets up.
    A couple years ago - when I would play $10 or $20 dollars
    of different tickets -- I could count on winning back HALF my money.
    NOT ANY MORE !
    Now, it seems you can lose quite a bit.....until you hit a semi-decent win.
    Example :
    You lose $10..................you lose $20........you lose $10.......then hit a $25 or $50 win.
    Just the way my circle of players have experienced it last couple years.
    *
    Scratch offs + lottery tickets are sh*tty bets.
     
  5. Big Tip

    Big Tip VIP Whale

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    Lottery and scratch offs have a house advantage of 50%. That is a little higher than roulette's 5%. lol But I will buy a lottery ticket every now and then just so I can day dream about what to do with the winnings. The dollar I spend gives me plenty of entertainment value.

    Your thread title asks are they good bets in general, but then your question was, "which of these two options are best."

    But yes, you should always play a game with the best available odds. Usually the big jackpot games have better odds when they first come out and all the jackpot prizes are still in play.
     
  6. Auggie

    Auggie Dovahkiin

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    It doesn't really work like that: if the odds are 1 in 10,000 of winning a certain prize and you buy 5 tickets the odds don't become 1 in 2,000... the odds are still 1 in 10,000 just that now you have 5 tries at it.

    I don't know if your lottery program has it but ours lists the prizes available on scratch tickets that are yet unclaimed... thats also something to check because if the odds are 1 in 10,000 to win $5000 and they print up 5 winning tickets and you go to the store and buy a ticket but all 5 winning tickets have already been bought and claimed then your odds of winning the $5000 is 0 since there aren't any winning tickets left.

    Buying more tickets instead of one ticket doesn't reduce odds, but it does reduce variance.

    Using a gambling example, roulette is a good way to look at it:
    If you have $20 and went up to a double zero roulette table and put all $20 on your favorite number if it hits you win $720... but you only have one shot at it.
    If you instead get 20x $1 chips and each spin you 1 chip on your favorite number for the next 20 spins then it is more likely you will hit your number, but if you do then you win less - you could technically still win $720 by hitting your number 20 times is a row, but that is very unlikely. Instead reality would be you might hit your number 0 or 1 times, maybe 2 if you are lucky or 3 times if you are super lucky.
     
  7. Gomar

    Gomar Low-Roller

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    Huh? Please explain.
    Perhaps for PB and MM, but if a carnie has 10 boxes, just 1 box has $5, each bet is $1. If I bet $1 I get 1:10; bet $2 get 1:5; bet $10 get 1:1(but you lose $5).

    That's how Win4 works; 1:10k win $5k. Bet $2500 get 1:4.
     
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