tag:blogger.com,1999:blog-264226589944705290.post3187144462122983857..comments2023-05-28T02:56:02.991-07:00Comments on God Plays Dice: It's a tax on stupidity -- but nobody's that stupid.Michael Lugohttp://www.blogger.com/profile/15671307315028242949noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-264226589944705290.post-5600408306358055082009-06-21T04:45:52.353-07:002009-06-21T04:45:52.353-07:00well friend corruption is everywhere, and it's...well friend corruption is everywhere, and it's human nature, we are greedy, and with our need we become corrupt with time.<br /><br />thank you<br />sudipta das<br />________________<br /><a href="http://www.contextured.com/" rel="nofollow">internet marketing</a>Sudipta Dashttps://www.blogger.com/profile/15576598115739268572noreply@blogger.comtag:blogger.com,1999:blog-264226589944705290.post-87233896535716642402009-03-08T18:54:00.000-07:002009-03-08T18:54:00.000-07:00Thanks for the info, i think that Government Gran...Thanks for the info, i think that <A HREF="http://www.governmentfreegrants.org" REL="nofollow">Government Grants</A> must be available to everyone here,<BR/>or <A HREF="http://www.governmentfreegrants.org/free-government-grant-kit/" REL="nofollow">Free Grant Kit</A> also, but<BR/><A HREF="http://www.governmentfreegrants.org/government-grants/how-to-get-free-grant-kit/" REL="nofollow">Free Grant Kit</A> is much better,thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-264226589944705290.post-55049119811472241082008-07-30T23:45:00.000-07:002008-07-30T23:45:00.000-07:00This comment has been removed by the author.Sudipta Dashttps://www.blogger.com/profile/15576598115739268572noreply@blogger.comtag:blogger.com,1999:blog-264226589944705290.post-14994447128146539842008-05-19T08:56:00.000-07:002008-05-19T08:56:00.000-07:00Oh! I finally get it. So he's saying the $1,500 pa...Oh! I finally get it. So he's saying the $1,500 payoff is the big one, and the remaining $21,248,500 is won over the course of waiting for that payoff. And consequently, the cost of that big payoff is $3,750,000.<BR/><BR/>Now I think I understand your comment about his ignoring the little payoffs. That $3,750,000 cost is really the cost for <I>all</I> of the payoffs -- which is meaningless in terms of the big payoff, because the number and cumulative value of the little payoffs dominates (by several orders of magnitude) the big payoff. That cost is greatly amortized by the little payoffs, since each little payoff has a cost as well.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-264226589944705290.post-62245857141414184882008-05-19T08:36:00.000-07:002008-05-19T08:36:00.000-07:00joe,here's the "math" used there. The writer assu...joe,<BR/><BR/>here's the "math" used there. The writer assumes that the $1,500 jackpot comes up one time in every 50 million, which is apparently the minimum allowed by Pennsylvania law. Then rather arbitrarily, he assumes that the average slot machine play is for 50 cents. (Given that the play which triggered the jackpot he mentions was a 75-cent play, I'm not sure where this number comes from!) So it takes fifty million plays at 50 cents each, or $25,000,000 put into the machine, to get the jackpot. But 85 percent of that, or $21,250,000, is expected to be paid back. The $3,750,000 is the difference, which is how much money you'd expect to lose while waiting for this rather paltry jackpot.<BR/><BR/>What's confusing, I think, is not the computation, but the fact that the author seems to think it means something.Michael Lugohttps://www.blogger.com/profile/15671307315028242949noreply@blogger.comtag:blogger.com,1999:blog-264226589944705290.post-76310076861830911882008-05-19T08:32:00.000-07:002008-05-19T08:32:00.000-07:00I must be missing something. Can someone explain t...I must be missing something. Can someone explain to me the math used to determine that "the cost of playing long enough to get a $1,500 jackpot would be $3,750,000"?Anonymousnoreply@blogger.com