Collective bets in local lotteries

[len01]

It's not that different from people pooling funds to invest in some shitcoin I guess? I don't like the idea to be honest since you never really know what other people may do if given the opportunity to take huge money for themselves. It's probably a fun thing to do but it's not my thing. I would rather buy lottery tickets myself with my own money.

I think so too. It is much better to gamble using your own money, because after all, gambling with a group has a greater risk, for example, unequal distribution of rewards, disputes between individuals, and other problems. Indeed, the reward offered if you win is far greater than gambling individually, but there are a number of things to consider and betting individually seems better.

winnings from the lottery are usually very big when you are lucky, especially if you buy tickets with money collected from a group of several people, but here the problem is that greed is always on their mind, unless the mindset of the group has an adult mindset and divides it equally according to the initial provisions.
If not one of the people from the group gets greedy sharing the winnings unfairly there will definitely be a fight just because the distribution is unfair and I really can not think how these people think of buying lottery tickets using the money collected from several people. even if on the one hand it is more comfortable and more interesting to buy lottery tickets using your own money without having to share the winnings with other people (as @Yogee said) and at your own risk.
Greed is always on everyone's mind, for sure.

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[Rabata]

It's not that different from people pooling funds to invest in some shitcoin I guess? I don't like the idea to be honest since you never really know what other people may do if given the opportunity to take huge money for themselves. It's probably a fun thing to do but it's not my thing. I would rather buy lottery tickets myself with my own money.

I think so too. It is much better to gamble using your own money, because after all, gambling with a group has a greater risk, for example, unequal distribution of rewards, disputes between individuals, and other problems. Indeed, the reward offered if you win is far greater than gambling individually, but there are a number of things to consider and betting individually seems better.

winnings from the lottery are usually very big when you are lucky, especially if you buy tickets with money collected from a group of several people, but here the problem is that greed is always on their mind, unless the mindset of the group has an adult mindset and divides it equally according to the initial provisions.

If greed is not controlled, there is a possibility of harm on any platform and in the case of lottery or betting, it becomes more difficult to control. A large number of people want to win the lottery because there is a possibility of getting a lot of money for which many people try to use collective method to win the lottery systematically. In this case, although many people agree but various types of ambiguity created among them. But I will admit that in collective terms the lottery is somewhat less risky and slightly more likely to win.

[Silberman]

winnings from the lottery are usually very big when you are lucky, especially if you buy tickets with money collected from a group of several people, but here the problem is that greed is always on their mind, unless the mindset of the group has an adult mindset and divides it equally according to the initial provisions.
If not one of the people from the group gets greedy sharing the winnings unfairly there will definitely be a fight just because the distribution is unfair and I really can not think how these people think of buying lottery tickets using the money collected from several people. even if on the one hand it is more comfortable and more interesting to buy lottery tickets using your own money without having to share the winnings with other people (as @Yogee said) and at your own risk.
Greed is always on everyone's mind, for sure.

Also we cannot discard the possibility of the person behind such group thinking about scamming their members from the very beginning, after all what can be better for them than to buy a lot of lottery tickets with money that was not even theirs? In this case the lottery will have a positive EV as even a win of a single dollar would make them a winner, so they could pay all of those small winnings to their members but then once there was a decent enough win they could disappear with the prize money and then do this again at another place.

[ethereumhunter]

If greed is not controlled, there is a possibility of harm on any platform and in the case of lottery or betting, it becomes more difficult to control. A large number of people want to win the lottery because there is a possibility of getting a lot of money for which many people try to use collective method to win the lottery systematically. In this case, although many people agree but various types of ambiguity created among them. But I will admit that in collective terms the lottery is somewhat less risky and slightly more likely to win.

Greed will only negatively impact someone if you can't control yourself properly. Many people have lost control to stop their gambling game, and because they want a bigger win, that is what causes them to get even more losses. And that's what greed gives and should after getting a loss like that, they can realize and start reducing their time to gamble. And if they can win by buying the lottery collectively, they should stop first so that their greed doesn't grow and they can still control themselves well and celebrate their win.

[swogerino]

In groups dreaming may be better but when people let's suppose have a remote chance and go and win the lottery,usually will start a fight,one will say I bought the tickets,I got physically to the shop,one other will say it is thanks to me as I choose the number and so on each one will come up with an excuse trying to get more money from the entire sum.This inevitably leads to fights and sometimes there have been tragic consequences,some have even died trying to argue as why each of them deserved more that the situation precipitated to the worse.That is why I think it is better to play alone with your small chances,no mess up or confusion or even bad consequences will happen.

[alastantiger]

In groups dreaming may be better but when people let's suppose have a remote chance and go and win the lottery,usually will start a fight,one will say I bought the tickets,I got physically to the shop,one other will say it is thanks to me as I choose the number and so on each one will come up with an excuse trying to get more money from the entire sum.This inevitably leads to fights and sometimes there have been tragic consequences,some have even died trying to argue as why each of them deserved more that the situation precipitated to the worse.That is why I think it is better to play alone with your small chances,no mess up or confusion or even bad consequences will happen.

Yes, friends and money do not mix. Just as I would not go into business with my friends or family, I would not do collective bets in local lotteries with them. You know we have different personalities, and people would blame you at the slightest opportunity for a failure rather than blaming themselves. They'll say, "I told you not to play that number, but you insisted." However, they'll give themselves credit and pat each other on the back for making the right decision and winning the lottery, even when it was a collective effort. Talk about profit sharing, and you may end up with a court case because a greedy person doesn't want the winnings to be shared equally. I am not doing this with friends. I bet alone, lose alone, and go to bed happy.

[goldkingcoiner]

Would like to know your takes on betting as a group to raise chances in local
Lotteries

I know that mathematically the chances are still really low even if you multiply it 100x but in Brazil at least we’ve seen some local lottery prizes given for small groups of 20 or 30 people betting betting with 5000x tickets let’s say

If dreaming alone is cool dreaming in groups can be even better

You should be careful. You might find that the group might turn against you if they lose. Because you will have given them someone to blame their loss on. They might even demand you repay them because you tempted them into gambling in the first place, or some other thinly veiled excuse. I would not risk it, if I were you. Its the perfect plan for a future headache which you could easily avoid. Of course that is only if you make a group by yourself or declare yourself the leader of such a group. Joining such a group seems fine to me, but the odds are still teeny tiny.

[wheelz1200]

Would like to know your takes on betting as a group to raise chances in local
Lotteries

I know that mathematically the chances are still really low even if you multiply it 100x but in Brazil at least we’ve seen some local lottery prizes given for small groups of 20 or 30 people betting betting with 5000x tickets let’s say

If dreaming alone is cool dreaming in groups can be even better

In the US this is done all the time.  Not so much with other strangers but as a collective group friends but mostly in your work environment.  A lot of big winners comes from a group and those are likely from a work place.  For an employer I always thought that would suck because you would have a mass exodus of your employees if it's a big enough lottery.  I'm all for it, no reason for 1 person to win such big lotteries.

[Casdinyard]

Would like to know your takes on betting as a group to raise chances in local
Lotteries

I know that mathematically the chances are still really low even if you multiply it 100x but in Brazil at least we’ve seen some local lottery prizes given for small groups of 20 or 30 people betting betting with 5000x tickets let’s say

If dreaming alone is cool dreaming in groups can be even better

Never have known this but I think even with 30 or more the chances will still not be that great and this could just lead to more conflict of things. Having 5000x tickets is really a huge deal for one but as Casdinyard is saying having that Jerry and Marge Go Large debut is not sustainable unless you're really that genius. I don't know if there's a group that doing this but mostly will fail in the long term, it's only good when starting, the hype and hope is present.

It's not about being genius though, it's all about having enough money around the group to work around, plus the fact that the thing they did in the movie only worked cause there's a flaw in the lottery system that made it so people who buy more tickets get higher chances of winning the prize pot. That couldn't be the case now especially for certain types of lottery that took this into account. If you want to earn money as a community the best way you could actually do that is by employing cooperative methods lol, like a lending business, grocery and stuff like that, where the profit is shared between stakeholders. I've seen this work so well on some communities and cities, so it's something that is feasible give that you have to put the mind and the effort into it however, but honestly between that and pushing your luck for a lottery you can't even guarantee a win, I'd take the surefire way any day.

[dezoel]

As long as you trust the collector about your bet then why not? Just make sure he’s honest enough to give the reward to the participants but if you want a stress free betting, then bet on your own. Though the more you bet the higher chance of winning, this is still lottery and its hard to predict its perfect combination for you to win on that day. Just be careful since there is collections, this might turn into a scam activity.

One should obviously not give money to a complete stranger to do the collective betting for them, but it should only be done if one can find a bunch of people who are willing to contribute the same amount of money so that they can buy tickets collectively at a local lottery where they might have higher chances of getting the big win which will give everyone an equal share of the total amount which should at least be higher than what they've contributed.

Though it doesn't provide a guaranteed win, it would at least increase the chances of winning for everyone that is participating in the collective betting, because if they were to buy tickets individually, everyone would have the same winning probability, but now since they all bought many tickets combined, they would have a higher winning probability.

[Silberman]

As long as you trust the collector about your bet then why not? Just make sure he’s honest enough to give the reward to the participants but if you want a stress free betting, then bet on your own. Though the more you bet the higher chance of winning, this is still lottery and its hard to predict its perfect combination for you to win on that day. Just be careful since there is collections, this might turn into a scam activity.

One should obviously not give money to a complete stranger to do the collective betting for them, but it should only be done if one can find a bunch of people who are willing to contribute the same amount of money so that they can buy tickets collectively at a local lottery where they might have higher chances of getting the big win which will give everyone an equal share of the total amount which should at least be higher than what they've contributed.

Though it doesn't provide a guaranteed win, it would at least increase the chances of winning for everyone that is participating in the collective betting, because if they were to buy tickets individually, everyone would have the same winning probability, but now since they all bought many tickets combined, they would have a higher winning probability.

Also it would be a mistake to do this with people you do not even know, after all even when it comes to your family and friends there could still be some disputes in the case there was a big win, and it is obvious that this would be even more difficult if you were gambling with a bunch of people that you do not know and that could at any moment run with the money prize, so while some may find this form of betting as attractive I would prefer to not participate in it as it seems too troublesome to me.

[TimeTeller]

As long as you trust the collector about your bet then why not? Just make sure he’s honest enough to give the reward to the participants but if you want a stress free betting, then bet on your own. Though the more you bet the higher chance of winning, this is still lottery and its hard to predict its perfect combination for you to win on that day. Just be careful since there is collections, this might turn into a scam activity.

One should obviously not give money to a complete stranger to do the collective betting for them, but it should only be done if one can find a bunch of people who are willing to contribute the same amount of money so that they can buy tickets collectively at a local lottery where they might have higher chances of getting the big win which will give everyone an equal share of the total amount which should at least be higher than what they've contributed.

Though it doesn't provide a guaranteed win, it would at least increase the chances of winning for everyone that is participating in the collective betting, because if they were to buy tickets individually, everyone would have the same winning probability, but now since they all bought many tickets combined, they would have a higher winning probability.

Also it would be a mistake to do this with people you do not even know, after all even when it comes to your family and friends there could still be some disputes in the case there was a big win, and it is obvious that this would be even more difficult if you were gambling with a bunch of people that you do not know and that could at any moment run with the money prize, so while some may find this form of betting as attractive I would prefer to not participate in it as it seems too troublesome to me.

It is just like you are wasting your money on this type of betting if you are with people you don't know.
As you said, even if you do this with close family and friends, you can't guarantee if there will be no trouble along the way.
So not to have this burden, just do your bet on your own. Win or lose, it is all on you. You won't have hard feelings because that's your bet anyway.
You will learn your lesson if you happen to experience it once in your lifetime, screwed by the people surrounding you.

[Lanatsa]

As long as you trust the collector about your bet then why not? Just make sure he’s honest enough to give the reward to the participants but if you want a stress free betting, then bet on your own. Though the more you bet the higher chance of winning, this is still lottery and its hard to predict its perfect combination for you to win on that day. Just be careful since there is collections, this might turn into a scam activity.

One should obviously not give money to a complete stranger to do the collective betting for them, but it should only be done if one can find a bunch of people who are willing to contribute the same amount of money so that they can buy tickets collectively at a local lottery where they might have higher chances of getting the big win which will give everyone an equal share of the total amount which should at least be higher than what they've contributed.

Though it doesn't provide a guaranteed win, it would at least increase the chances of winning for everyone that is participating in the collective betting, because if they were to buy tickets individually, everyone would have the same winning probability, but now since they all bought many tickets combined, they would have a higher winning probability.

Also it would be a mistake to do this with people you do not even know, after all even when it comes to your family and friends there could still be some disputes in the case there was a big win, and it is obvious that this would be even more difficult if you were gambling with a bunch of people that you do not know and that could at any moment run with the money prize, so while some may find this form of betting as attractive I would prefer to not participate in it as it seems too troublesome to me.

It is just like you are wasting your money on this type of betting if you are with people you don't know.
As you said, even if you do this with close family and friends, you can't guarantee if there will be no trouble along the way.

1000% agree on this one, in speaking of huge money on which it is really something that life changing or humongous amount then this is where extreme greed would kick in. Even with your relatives or friends could really be having the potential on changing up instantly and wont be bothering whether you are that relative or close to each other on the time that they would get a hold of those money.On this kind of set up then it would really be just that so hard on trusting up someone because you cant really be able to ensure about those funds would really be divived on a fair way on which it is really just that be giving out that kind of trust issues even on my part. I would rather be making out bets on individually rather than on going into groups but if you could be able to bare out or handle such condition then it would really be just that fine but if you are really that skeptical then better skip this part.

I would really be saying that going in groups would really be increasing your chances of winning but not into the point that it would be even counting on a single digit or even 1% kind of chance on hitting the jackpot.
It will really be depending accordingly the buying power or number of tickets on which your group do able to accumulate or bet on. The higher the better chance but of course there would really be some accompanying potential risks on doing so. You cant trust no one in speaking about money because human beings are naturally greedy and you cant ensure that 100% of those winning amounts to be safe. 

[Johnyz]

Would like to know your takes on betting as a group to raise chances in local
Lotteries

I know that mathematically the chances are still really low even if you multiply it 100x but in Brazil at least we’ve seen some local lottery prizes given for small groups of 20 or 30 people betting betting with 5000x tickets let’s say

If dreaming alone is cool dreaming in groups can be even better

In the US this is done all the time.  Not so much with other strangers but as a collective group friends but mostly in your work environment.  A lot of big winners comes from a group and those are likely from a work place.  For an employer I always thought that would suck because you would have a mass exodus of your employees if it's a big enough lottery.  I'm all for it, no reason for 1 person to win such big lotteries.

At least this is an organized group and I hope they all have the terms to follow because in my country greedy people can’t even lead a group so how you can trust them in the first place. Having a group can increase your chance of winning, its good to hear that there’s actually a group like this because when it comes to collection of money, that can be more risky in my country.

[qwertyup23]

Would like to know your takes on betting as a group to raise chances in local
Lotteries

I know that mathematically the chances are still really low even if you multiply it 100x but in Brazil at least we’ve seen some local lottery prizes given for small groups of 20 or 30 people betting betting with 5000x tickets let’s say

If dreaming alone is cool dreaming in groups can be even better

Hmm this is actually interesting- imagine if people were to purchase lottery tickets but the statistics show that the chances are still low. Well maybe if you can convince a group of people to spend such amount on betting lottery tickets, I guess there is that chance of winning but it may still be relatively low given the astronomically low chance of winning the lottery altogether.

I guess some may have tried this in the past and but they just considered that it is not worth it. Maybe statistically, they could have spent more than what they would have earned in the process if this were the case.

[Silberman]

Would like to know your takes on betting as a group to raise chances in local
Lotteries

I know that mathematically the chances are still really low even if you multiply it 100x but in Brazil at least we’ve seen some local lottery prizes given for small groups of 20 or 30 people betting betting with 5000x tickets let’s say

If dreaming alone is cool dreaming in groups can be even better

Hmm this is actually interesting- imagine if people were to purchase lottery tickets but the statistics show that the chances are still low. Well maybe if you can convince a group of people to spend such amount on betting lottery tickets, I guess there is that chance of winning but it may still be relatively low given the astronomically low chance of winning the lottery altogether.

I guess some may have tried this in the past and but they just considered that it is not worth it. Maybe statistically, they could have spent more than what they would have earned in the process if this were the case.

Even if people do not often think about this the lottery also has a house edge and it can be quite high compared to other games, for example if a lottery were to sell tickets for a value of one million dollars then it could giveaway prizes for 800k, meaning there is a 20% house edge, so while buying more tickets does increase your chances of winning at the end of the day you are still gambling, and given enough time you should lose money unless you get incredibly lucky and you happened to win one of the big prizes offered by the lottery.

[KTChampions]

Even if people do not often think about this the lottery also has a house edge and it can be quite high compared to other games, for example if a lottery were to sell tickets for a value of one million dollars then it could giveaway prizes for 800k, meaning there is a 20% house edge, so while buying more tickets does increase your chances of winning at the end of the day you are still gambling, and given enough time you should lose money unless you get incredibly lucky and you happened to win one of the big prizes offered by the lottery.

As far as I know, the advantage of the organizer of the lottery is much more than 20%, rather closer to 50%. And if we calculate the taxes that the winner has to pay, the RTP will be something like 10%. The lottery is the worst of all gambling games, but it has the highest multiplier. It is unlikely that any casino will be able to pay you hundreds of millions of dollars, but in the lottery it is possible.

[stomachgrowls]

Would like to know your takes on betting as a group to raise chances in local
Lotteries

I know that mathematically the chances are still really low even if you multiply it 100x but in Brazil at least we’ve seen some local lottery prizes given for small groups of 20 or 30 people betting betting with 5000x tickets let’s say

If dreaming alone is cool dreaming in groups can be even better

Hmm this is actually interesting- imagine if people were to purchase lottery tickets but the statistics show that the chances are still low. Well maybe if you can convince a group of people to spend such amount on betting lottery tickets, I guess there is that chance of winning but it may still be relatively low given the astronomically low chance of winning the lottery altogether.

I guess some may have tried this in the past and but they just considered that it is not worth it. Maybe statistically, they could have spent more than what they would have earned in the process if this were the case.

Even if people do not often think about this the lottery also has a house edge and it can be quite high compared to other games, for example if a lottery were to sell tickets for a value of one million dollars then it could giveaway prizes for 800k, meaning there is a 20% house edge, so while buying more tickets does increase your chances of winning at the end of the day you are still gambling, and given enough time you should lose money unless you get incredibly lucky and you happened to win one of the big prizes offered by the lottery.

Deductions would really be that normal specially when hitting up the jackpot which taxes and other deductions would really be there on which it would be resulting on getting that 70-80% left of the entire jackpot prize

amount on which we could say that it is really just that too much but there's nothing we can do but to deal off with those kind of set-up or arrangement but still its still a huge amount of money on which you could be able to cherish out. We know that purchasing tons of tickets would really be increasing out that kind of odds or chances that you would be able to hit up those combinations but the main question is this, how much money
you are willing to spend on buying tons of tickets? This is why some people would really be having the idea on pooling up funds and buying up tickets in groups so that they would increase out that kind of
odds or chances of winning but its still not that an assurance.

Im not wary about these groups here on my country but pretty much sure that there would be those individuals who do have these kind of idea and motives on placing up bets on lotteries.
Just that been said that the main issue on here would really be trusting each other.

[dothebeats]

Even if people do not often think about this the lottery also has a house edge and it can be quite high compared to other games, for example if a lottery were to sell tickets for a value of one million dollars then it could giveaway prizes for 800k, meaning there is a 20% house edge, so while buying more tickets does increase your chances of winning at the end of the day you are still gambling, and given enough time you should lose money unless you get incredibly lucky and you happened to win one of the big prizes offered by the lottery.

As far as I know, the advantage of the organizer of the lottery is much more than 20%, rather closer to 50%. And if we calculate the taxes that the winner has to pay, the RTP will be something like 10%. The lottery is the worst of all gambling games, but it has the highest multiplier. It is unlikely that any casino will be able to pay you hundreds of millions of dollars, but in the lottery it is possible.

And the chances are infinitesimally small and a lot terrible, too. There are tons of other gambling games out there wherein the RTP is more generous and the chances of winning are more reasonable. Multipliers don’t really mean anything if you can’t hit it that much. They’re just numbers on the screen working to lure gamblers to bet more to make them believe that they’re increasing their winning chances.

I guess I’d stick to casino games more than the lottery with these facts in mind.

[slapper]

~snip~

Deductions would really be that normal specially when hitting up the jackpot which taxes and other deductions would really be there on which it would be resulting on getting that 70-80% left of the entire jackpot prize

amount on which we could say that it is really just that too much but there's nothing we can do but to deal off with those kind of set-up or arrangement but still its still a huge amount of money on which you could be able to cherish out. We know that purchasing tons of tickets would really be increasing out that kind of odds or chances that you would be able to hit up those combinations but the main question is this, how much money
you are willing to spend on buying tons of tickets? This is why some people would really be having the idea on pooling up funds and buying up tickets in groups so that they would increase out that kind of
odds or chances of winning but its still not that an assurance.

Im not wary about these groups here on my country but pretty much sure that there would be those individuals who do have these kind of idea and motives on placing up bets on lotteries.
Just that been said that the main issue on here would really be trusting each other.

Deductions are an inevitable part of life, particularly when you hit it big. Anyone moaning about barely receiving 70–80% of their prizes is being ungrateful. Maybe you shouldn't even be playing if you're not willing to pay the price

Boosting your chances by purchasing more tickets? It's simple math. But here's a hint: not every tactic will work. How much money do you have? Are you willing to risk everything on a dream? But combining resources? Ha! I wish you luck in that. Trust problems can arise anywhere, especially when significant sums of money are at stake. Give your money out right away if you intend to assemble a group and entrust them with possible millions

You know, I've seen both individuals and groups use these strategies. Most people are let down. The courage to play large and the intelligence to play smart are more important than how many tickets you purchase