Huge lottery win

Robbie01 · #1 08-15-2006, 08:06 PM

My friend won 565,000 pounds with a lottery ticket here in the uk i know lottery is bad to play but half a million! thats 1 million bucks talk about +EV lol

pokergrader · #2 08-15-2006, 08:51 PM

B & V

newpokerplayer · #3 08-15-2006, 09:55 PM

lol id be happy with a 5k lotto win. I've never won much playing

smartalecc5 · #4 08-16-2006, 04:52 AM

actually, buying a lottery ticket is -EV

TStoneMBD · #5 08-16-2006, 05:29 AM

not if you win it isnt.

CaseS87 · #6 08-16-2006, 05:43 AM

[ QUOTE ]
not if you win it isnt.

[/ QUOTE ]

qft

stigmata · #7 08-16-2006, 05:45 AM

EV isn't everything, from a life-utility concept point of view I couldn't blame anyone for buying a lottery ticket.

MyTurn2Raise · #8 08-17-2006, 03:57 PM

[ QUOTE ]
actually, buying a lottery ticket is -EV

[/ QUOTE ]

not always....sometimes the accumulated prize pools get large enough

also, not every player is risk nuetral, so sometimes the potential big outcome outweighs a pure ev calculation

MortalWombat · #9 08-18-2006, 11:30 AM

[ QUOTE ]
My friend won 565,000 pounds with a lottery ticket here in the uk i know lottery is bad to play but half a million! thats 1 million bucks talk about +EV lol

[/ QUOTE ]565,000 pounds of what? Whole pork loin? $1.77 per pound is what it's going for around here. I hope he has a big freezer.