$200 Million Too Much? Sure Is!

[Aerith's Knight]

Well, someone won last night, and the jackpot is back down to $15 million. That means the odds are much greater than the payoff, and now it's a bad idea to buy a ticket. I guess we just have to wait for the payoff to surpass the odds again.

That really isn't how gambling works.

Seriously. >_>

The odds are always the same, the only thing that differs is the amount of money there is to win. If there was actually a decent chance to win that $15 million (and I was eligible) I'd totally buy a ticket. There's not, though, and the odds are the same as the $200 million jackpot.

So, what you guys are telling me is that if someone gave you 3:2 payoff for a coin toss, you would have the same chance of taking the bet as if they gave you a 2:3 payoff?

Trust me. I never leave a casino with less than I went in with. I know how to gamble. I know odds. I know payoff. And I know when the bet is worth taking.

The odds are the same, but the payoff isn't. The odds are still 146,107,962:1, but now the payoff is only 15,000,000:1. Even if you win, you're being ripped off.

Hmm, not to bust your balls here, but that just duuuh..

Coin toss is 50% to win. Now you can have odds like 1 buck in, two bucks if you win(1:2 or 2:1) or three bucks to one(1:3 or 3:1)..

But seriously. xD

Better 3:2 than 2:3?

So you'd rather give two bucks to win three than give three bucks to win two? XD

Noooooh, really?

And the fact is that no matter what happens, you can't use odds in a casino, because a casino is rigged that when you keep playing, you always lose. This is the 0 and 00 in roulette, the "dealer always wins" in blackjack, and the settings in a slot game that makes sure you always lose more than you win.

Which makes it pretty much impossible to keep putting money on red, so to say.

So you can't always walk out more out of a casino, except for exceptional good luck. xD

So why do people do a lottery like that? Because the odds are still better than in a casino.

Not that I would, of course.