I hear what you're saying, - what value is it? $4 or $4000? The more you have the more chance of winning.Originally Posted by Pixie
If you spend $100 on Lotto, it's dead the moment the balls have dropped (no pun etc)
I Spend more than $572/year ($11/week) on Lotto
I Spend less than $572/year ($11/week) but more than $322/year ($6/week) on Lotto
I Spend less than $322/year ($6/week) but more than $100/year on Lotto
I Spend less than $100/year but more than $50/year on Lotto
I Spend less than $50/year but still buy Lotto
I don't waste my money on Lotto. It's for suckers
My winnings have exceed what I have spent on Lotto
My winnings have match what I have spent on Lotto
I have had the odd winning, but I've have spent more than I've won on Lotto
Have not had any winnings, but yes I still get Lotto. Ya got ta be in ta win (yes I'm a sucker).
Forum whore
I hear what you're saying, - what value is it? $4 or $4000? The more you have the more chance of winning.
If you spend $100 on Lotto, it's dead the moment the balls have dropped (no pun etc)
Forum whore
Check out http://www.bonusbonds.co.nz/
e mare libertas
Lotteries are a tax on the mathematically illiterate.
Bonus Bonds are a slightly more exciting form of a standard investment unit trust. They even come with a prospectus and information about historical rates of return, etc.
I guess the answer to the original question depends on whether one would rather invest one's money, or give it away.
kiwibiker is full of love, an disrespect.
- mikey
Hardcore Biker
Lotto is for chumps. I've won more money playing poker than I ever did on lotto. Sure the odd person will strike it lucky but for every powerball winner there is 38,383,799 losers. The jackpot would have to reach $19.2 mil before returning favourable odds (ignoring other prizes or multiple winners).
In 2006, NZ Lotto took $719 mil but only paid out $398 mill. So on average you will only get $0.55 back for every dollar you invest.
But in saying that I'm still guilty of buying the occasional ticket when the jackpot gets over $5 mil.
Forum whore
Can't remember where I heard it, but it's a brilliant statement:
"Lotto is a tax on the financially unintelligent"
There's nothing more exhilarating than pointing out the shortcomings of others, is there? -Clerks
Wearing Hi-Viz Black.
I double my money every week... fold it in half and put it back in the wallet!
Lotto - Yeah Right!
TOP QUOTE: The problem with socialism is that sooner or later you run out of other peoples money.
e mare libertas
Hmm.
Perhaps it was in my post, two places before yours?
kiwibiker is full of love, an disrespect.
- mikey
Chump
I just ran some tin-arse numbers from the Bonus Bonds prospectus. It looks as though a term deposit absolutely rapes Bonus Bonds on an average net return. You just can't beat gambling for some people, even when they're trying to save/invest.
Total revenue / Total funds = 6.3% which is not bad, an average term deposit/on-call rate. Makes sense when you see that all they invest in is government bonds and banks.
Total revenue - bonus bond management fees - tax / Total funds = 3.2%.
That is, from $2.1 billion invested, Bonus Bonds paid out a whooping $76 million. Holy crap, what a great idea Bonus Bonds are :/
Sleep is for the weak.
The Loose Goose
I've had small wins on Lotto - biggest about $50, although I did win $100 on a scratch kiwi many years ago. Got my first $20 prize from the Bonus Bonds I bought years ago last month - may it be the start of my change in fortune!
But you have to be in to win!
Yes, I am pedantic about spelling and grammar so get used to it!
Born to be mild
I had a spare $500 for six months 25 years ago so I put them into Bonus Bonds on the theory that over 6 months 500 units would give me a decent chance of winning. Chance yeah, but I didn't win a cent on them. At least I still had the $500 at the end of the period though so that beats Lotto hands down I guess.
I also remember being told that you should renew the bonds every so often as the older numbers had a lesser chance of winning for some reason. Can't think why.
Grow older but never grow up
Scooter boy
from memory, the highest odds on "gambling" is the tab, around 82 cents in the $ is paid out in winnings, i think lotto was the lowest pay out ratio.
we are all nutswe just dont know it !!
Chump
Aren't most pokie machines programmed to output somewhere in the 90-95 cents per dollar gambled vicinity?
Sleep is for the weak.
Hardcore Biker
Hmmm I think the best gambling odds you can get anywhere would have to be the roulette table. A single zero roulette table pays out 35:1 on 36:1 odds so you are looking at a ROI of $0.972.
I remember reading about some guy in the US who sold up everything he had and placed a US$150K bet on red or black at the roulette table......he won.
Forum whore
I hadn't actually read anymore than the first post when i replied... but I remember hearing it maybe 6 years ago in South Africa... I think it coulda been from that Rich Dad, Poor Dad book by Robert Kiyosaki.
There's nothing more exhilarating than pointing out the shortcomings of others, is there? -Clerks
Flat Out Biker
Other banks do something similar to Bonus Bonds. I have a Westpac no interest account that goes in some draw depending on what is in it.
Tis called Save & Win
http://www.westpac.co.nz/olcontent/o...t/Save+and+win
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