Odds against winning UK National Lottery - c. 14,000,000/1

[Tin Pot]

If we won a million this weekend we'd buy a house outright, something that would last for the rest of our lives, quit our jobs, have a nice holiday or two but nothing too extravagant, get Christmas out of the way then find an easy, low paid job each. Without the big rent/mortgage bill we could live quite well even working part time (24 - 30 hours per week) on minimum wage.

What a waste. Coke, hookers, dead in six months. That's the way to go.

 

[Accy cyclist]

A low risk investment in savings accounts with banks/building societies will yeild £20,000 interest which, after tax, leaves you with £16,000 year.

Investing £100000 will yield £1600 per year.

Not a lot is it?

Who's bothered about investing it and how much interest it makes? A million quid to me would mean 50 grand a year for the rest of my life,if i'm lucky enough to live another 20 years. That's roughly a thousand pounds a week to man of simple pleasures like myself. I'd call that being set up for life!

 

[vernon]

Who's bothered about investing it and how much interest it makes? A million quid to me would mean 50 grand a year for the rest of my life,if i'm lucky enough to live another 20 years. That's roughly a thousand pounds a week to man of simple pleasures like myself. I'd call that being set up for life!

Ah but you said that you'd be happy with £100,000.

The cost of living must be higher in other parts of the country, a hundred grand would do me.

There's a big difference between £50,000 and £5,000 that's a hundred pounds per week - enough to supply your simple pleasures?

Try to be consistent with your fantasies.

 

[Accy cyclist]

Ah but you said that you'd be happy with £100,000.



There's a big difference between £50,000 and £5,000 that's a hundred pounds per week - enough to supply your simple pleasures?

Try to be consistent with your fantasies.

Ah but you said that you'd be happy with £100,000.




There's a big difference between £50,000 and £5,000 that's a hundred pounds per week - enough to supply your simple pleasures?

Try to be consistent with your fantasies.

Yes but you're on about how much interest you'd get from a million aren't you?

 

[vernon]

Yes but you're on about how much interest you'd get from a million aren't you?

I've got no further interest in trying to reason with a nobber.

 

[Dec66]

Suppose you were to win a life changing amount (e.g. £4m)... Would you request "no publicity"?

Not only would I request "no publicity", I actually don't think I'd tell anyone. Not even Mrs. 66.

 

[Accy cyclist]

I've got no further interest in trying to reason with a nobber.

Trouble with you is that you don't like anyone answering you back.

 

[DaveReading]

Some call it a tax on the poor as they are more likely to do it and spend proportionally more on it.

Or, as my son insists on referring to it as, a tax on the stupid.

 

[Stephenite]

It might be a tax on the stupid and the poor but, thanks to them, bucket loads of money is ploughed back into society.
Quoted from this page here - https://www.national-lottery.co.uk/...ey-goes?icid=lich-212:bd:21:sgp:tnl:wmg:in:co

"From total ticket sales of £7,277.8 million in the year ending 31 March 2015:

• £1,796.8 million was raised for National Lottery projects"

 

[albion]

They never tell us how many tickets the winners bought to win the jackpot. Was it just the one, or are the winners most likely to be gambling addicts who spend 30 quid a week on the stupid things?

Lend me some money.


I pay very good interest, win, win. I'd spend my own 43 million but I do like to share.

 

[Dave the Smeghead]

The National Lottery has increased their number range in play from 49 to 59. This extra 10 numbers has taken the odds of winning the jackpot from 1 in 14 million (which was pretty long to start with) to 1 in 45 million! Apparently it is now more statistically likely to die in a plane crash than to win the lottery.
Why anyone would still play the lottery is beyond me.
I must admit to playing avidly when the lottery was introduced (21 years ago) but this has dropped to once in a blue moon recently and now with these changes I don't think I will be playing it again.
Is anyone else going to continue playing? Is Camelot now going to lose the licence when it becomes apparent no-one is playing their main lottery?

 

[vernon]

I think that this has already been comprehensively covered in another thread.

https://www.cyclechat.net/threads/odds-against-winning-uk-national-lottery-c-14-000-000-1.188825/

 

[Dave the Smeghead]

Thanks Vernon,
I did have a quick look through the threads but didn't see that one.

 

[Dave the Smeghead]

It might be a tax on the stupid and the poor but, thanks to them, bucket loads of money is ploughed back into society.
Quoted from this page here - https://www.national-lottery.co.uk/...ey-goes?icid=lich-212:bd:21:sgp:tnl:wmg:in:co

"From total ticket sales of £7,277.8 million in the year ending 31 March 2015:

• £1,796.8 million was raised for National Lottery projects"

And a massive harvest of the profits goes to a Canadian Teachers Pension Fund apparently. Nice to know the money stays in this country - not!

 

[ClichéGuevara]

I was reading an article that reckoned you can increase the chances of winning by buying at the last minute.

The logic was that you've more chance of being knocked down and killed on the way to the shop to buy the ticket, than you have of winning the jackpot, so the less time between buying it and the draw being made, the better

I don't know where it leaves me, as I buy on line.