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Would you wager $5,000 on a 1/6 chance to win $75,000? (winnings untaxed!)

Yes
No
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Would you wager $5,000 on a 1/6 chance to win $75,000?
« on: July 03, 2013, 12:56:22 AM »

Offline action781

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$5,000 is not something I have to spare.  It would be a considerable hit to me, but I'd do it.  The payoff is too good.  I'm also only 29 and don't have a family or a mortgage.  If I lost, and the offer was still on the table, I think I'd save up and try again.  I'm a bit of a gambler though.

You?
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #1 on: July 03, 2013, 12:57:30 AM »

Offline 86MaxwellSmart

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is this some sort of Pyramid scheme..?
 :)
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #2 on: July 03, 2013, 12:58:04 AM »

Offline bfrombleacher

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Depends how much you need it.

Without context, considering 5,000 is "not something [you] have to spare", I'd say no.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #3 on: July 03, 2013, 12:58:42 AM »

Online rondohondo

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is this a draft lottery thread ?
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #4 on: July 03, 2013, 12:59:03 AM »

Offline lightspeed5

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tough call.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #5 on: July 03, 2013, 01:00:15 AM »

Offline GreenEnvy

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Over 83% chance of kissing that money goodbye.

No thanks.

The only way I'd consider is if I had like $50K available where I could just keep playing until I finally hit, but even then I probably wouldn't.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #6 on: July 03, 2013, 01:05:30 AM »

Offline action781

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Quote from: bfrombleacher on July 03, 2013, 12:58:04 AM
Depends how much you need it.

Without context, considering 5,000 is "not something [you] have to spare", I'd say no.

By not something I have to spare, I just mean I'm not rich and it's not chump change.  It won't bury me and cause me to miss rent or anything, it just means I'd have to wait at least another year before I can buy a house if I lose (or I'd have 5k less to put down).

And this is just a hypothetical, not an actual offer on the table for me!
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Bench:  Rajon Rondo - Trae Young - Marcus Smart - Jaylen Brown -  Peja Stojakovic - Jamal Mashburn - Carlos Boozer - Tristan Thompson - Mehmet Okur
Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #7 on: July 03, 2013, 01:05:43 AM »

Offline bleedGREENdon

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If its that the celtics with this roster in hand wins the nba finals next year without any roster changes. I save my $5,000.

- professional gambler
-JoeRothstein
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #8 on: July 03, 2013, 01:08:41 AM »

Offline bfrombleacher

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Quote from: action781 on July 03, 2013, 01:05:30 AM
Quote from: bfrombleacher on July 03, 2013, 12:58:04 AM
Depends how much you need it.

Without context, considering 5,000 is "not something [you] have to spare", I'd say no.

By not something I have to spare, I just mean I'm not rich and it's not chump change.  It won't bury me and cause me to miss rent or anything, it just means I'd have to wait at least another year before I can buy a house if I lose (or I'd have 5k less to put down).

And this is just a hypothetical, not an actual offer on the table for me!

Well, in that case, FWIW, I still wouldn't. Not a gambler.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #9 on: July 03, 2013, 01:11:59 AM »

Offline indeedproceed

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Id do it as long as I still get Jabari Parker if I lose.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #10 on: July 03, 2013, 01:12:12 AM »

Offline action781

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Quote from: bleedGREENdon on July 03, 2013, 01:05:43 AM
If its that the celtics with this roster in hand wins the nba finals next year without any roster changes. I save my $5,000.

- professional gambler
-JoeRothstein

That payout would have to be better than 15/1 right?

looking....

Yup!  125/1.  Not so surprising.
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Finals Starters:  Jason Kidd - Reggie Miller - PJ Tucker - Al Horford - Shaq
Bench:  Rajon Rondo - Trae Young - Marcus Smart - Jaylen Brown -  Peja Stojakovic - Jamal Mashburn - Carlos Boozer - Tristan Thompson - Mehmet Okur
Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #11 on: July 03, 2013, 01:18:05 AM »

Offline Casperian

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Depends on what you want to wager on. You have to be a bit more specific for me to make an educated guess.

If it´s just picking straws, I´d say no, don´t do it.
If you want to bet on the Bobcats beating the Heat once in 6 games, I´d still say no, but your real odds are actually much different than 1/6.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #12 on: July 03, 2013, 01:19:23 AM »

Offline D.o.s.

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Quote from: action781 on July 03, 2013, 12:56:22 AM
$5,000 is not something I have to spare.  It would be a considerable hit to me, but I'd do it.  The payoff is too good.  I'm also only 29 and don't have a family or a mortgage.  If I lost, and the offer was still on the table, I think I'd save up and try again.  I'm a bit of a gambler though.

You?

You're still paying less than your season tickets, and have a better likelihood of an enjoyable return.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #13 on: July 03, 2013, 01:21:43 AM »

Offline bleedGREENdon

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Quote from: action781 on July 03, 2013, 01:12:12 AM
Quote from: bleedGREENdon on July 03, 2013, 01:05:43 AM
If its that the celtics with this roster in hand wins the nba finals next year without any roster changes. I save my $5,000.

- professional gambler
-JoeRothstein

That payout would have to be better than 15/1 right?

looking....

Yup!  125/1.  Not so surprising.

That is a mighty fine payout though haha.
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Re: Would you wager $5,000 on a 1/6 chance to win $75,000?
« Reply #14 on: July 03, 2013, 01:36:24 AM »

Offline LooseCannon

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Your expected value is +$8,333.33.  It would be a better deal than investing $5K in the stock market.
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