Multiple 50/50 winners

I fully agree with your sentiment, but I know people that would say they like the adrenaline rush of the draw: "it's not about winning, it's about fun (and 'helping a good cause' is the excuse to justify playing a losing game)"

To quote U2:
Every breaking wave on the shore
Tells the next one there'll be one more
And every gambler knows that to lose
Is what you're really there for

Exactly so. I struggle at times to explain to people that the buzz a gambler gets from the short term 'beating of the odds' is why they play. That Twilight Zone episode where that gambler dies and thinks he's gone to heaven cause he lives in the penthouse of a casino he always wins in.. then he finds out he's actually in hell because it's taken away the one true passion he had in life; that show does a far better job explaining it. But you're absolutely right. If there isn't inevitable statistical failure, it's not really gambling. At least not in the philosophical sense.
 
You might buy 1 or 5 tickets. Degenerate whales are buying a thousand. Jim from the office who coordinates the 'lottery pool' might buy be buying ten thousand.

More likely Dwight ……:laugh:

rainn-wilson-evil-laugh.gif
 
I fully agree with your sentiment, but I know people that would say they like the adrenaline rush of the draw: "it's not about winning, it's about fun (and 'helping a good cause' is the excuse to justify playing a losing game)"

Yeah, I don't think anyone considers 50/50 to be serious gambling. They are charitable fundraisers first and foremost.

That said, the teams have definitely done their best to raise the stakes by providing volume discounts. I remember going to Bomber and Moose games in the old days and it looked like the typical throwdown was maybe five bucks, ten bucks was a big spend. These days no one puts down less than ten, it's usually 20 or 50. So it's clearly a lucrative fundraising enterprise.
 
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K so here's my thinking:

Say Ernest wins the first one, after winning that first one he decides to throw in $1,000 into each subsequent draw just because. He won money, he's up, he wants to give more to charity, doesn't matter why. These are the subsequent 23 draws and his odds of winning them based on throwing in $1,000 to each, and the ones he won.

WinningsTotal boughtOdds
$30,380.00$60,760.001.65%
$37,570.00$75,140.001.33%
$54,410.00$108,820.000.92%
$32,960.00$65,920.001.52%
$5,000.00$10,000.0010.00%
$10,775.00$21,550.004.64%
$6,070.00$12,140.008.24%
$1,980.00$3,960.0025.25%
$31,505.00$63,010.001.59%
$75,125.00$150,250.000.67%
$29,020.00$58,040.001.72%
$11,625.00$23,250.004.30%Won
$6,420.00$12,840.007.79%
$6,710.00$13,420.007.45%
$5,000.00$10,000.0010.00%Won
$16,190.00$32,380.003.09%
$5,375.00$10,750.009.30%
$5,885.00$11,770.008.50%
$4,955.00$9,910.0010.09%
$5,080.00$10,160.009.84%
$7,065.00$14,130.007.08%Won
$38,220.00$76,440.001.31%
$4,455.00$8,910.0011.22%
[TBODY] [/TBODY]
Suddenly it doesn't look so impossible. Maybe still implausible, but I don't have time to re-learn statistics enough right now to figure out the odds of winning those 3 within those 23.

EDIT: @GeorgeJETson are you able to figure out the odds of what I laid out there? I did a bit of an approximation and came up with ~11%. I can't remember how to do binomial distributions with varying odds. If that's even the way you would need to go here.
K, so I programmed a simulation that runs these odds and ran it a million times to get an idea of how likely it would be to win 3+. It's above 17%. About 17.5% to be more exact. (EDIT: Noticed a number missing.)

And to be clear that's with $1=$1, no adjustments for getting more tickets by buying more at a time, which would raise the odds a lot.
 
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Burelle, who retired six years ago at 51 after selling his garage door installation company, has claimed a cool total of $50,945 in winning five 50/50 prizes offered on game days from Nov. 27 to March 11.

"I will not buy tickets when (the Jets) are at home," he said. "That’s because when they play here, you have people in the whole arena who are buying them. The odds of you winning are lesser."

Burelle won $11,855 on Nov. 27, when the Jets faced off against the Blackhawks in Chicago. In January, he went on a streak, winning Jan. 2 ($11,625), Jan. 13 ($5,000), and Jan. 25 ($7,065, a rare home buy for Burelle). He closed out the season with a $15,400 win March 11.

"I’ve won $51,000, but out of that I spent $20,000 and, towards the end, I was saying my lucky streak is over," he said. "You can only be so lucky."

"As part of the checks and balances of our program, repeat winners were flagged earlier this year and a thorough review was conducted which affirmed the integrity of both the process and the technology behind the draws," True North spokeswoman Krista Sinaisky said Friday.
 
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"As part of the checks and balances of our program, repeat winners were flagged earlier this year and a thorough review was conducted which affirmed the integrity of both the process and the technology behind the draws," True North spokeswoman Krista Sinaisky said Friday.
As we knew it would...

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