Lotto Toda...
Lotto Today
One out of 900 chance you will get an instant win. Would you buy a ticket at these chances?
It's a beautiful Friday afternoon in Seoul. It just stopped raining and the heat and humidity is behind us. The sky is blue with a few smiling puffy pillow clouds in the sky. It's enough to make you leave work early and take a hike.
That's exactly what I'm doing but what are these people in Seoul doing on a beautiful day? They are linned up to buy a lottery ticket. It's an instant chance at getting enough money to get yourself a small house or an expensive car or pay your college tuition for a semester.
Is it worth it to wait in a crowded line in the middle of the street during covid19? Just to throw away a dollar? Yes, somebody will win thousands. But will they be happy? Perhaps it is better to be the loser waiting in line with hopes and expectations than to be the actual winner with taxes to pay and friends and relatives coming out of nowhere. "Hey, we heard you won the Lotto!"
Well I'm off for a hike. Didn't even think twice about buying a Lotto ticket. Or did I?
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这么多人排队买什么？
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買彩票😂
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买口罩？
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你好鸭，mineopoly!
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It all boils down to risk management bro. Its probability game. Buy more numbers hitting more probabilities will help to increase the chance of winning, but the ROI become low. Or, hit for the ROI, but you may never win even once in a life time.
I used to buy a share with a bunch of friends, we pool our funds and buy like 1/3 of the available numbers. This really increased my winning probabilities like we're hitting it 9 out of 10. But on every winning, it's only a fraction of the invested at very low ROI due to sharing the prize pool. The time we didn't win 😂😂😂 That lose the whole initial investment.
But of course, people are creative. There are many different strategies that does the math game profitable by compounding, but that increase the risk. Double down being very consistent because it takes the loser to add it back up to the winning. As long doesn't face a losing streak, by right recovering to profit is very doable.
So yeah. I don't love math, but I like numbers.
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