Thursday, 26 January 2012


Yesterday 2 friends and I decided to have a little fun and between us bought 3 lotto scratch cards (1 each) and agreed to split all winnings. We excitedly rubbed away on our cards... and it turns out that my card was a winner! Winning us £10!! we were overjoyed and split our winnings equally and were very happy to have gained £1.33 ;)

The loosing card I got to keep :(

...then one friend got greedy. I thought we should quit while we were ahead but the other two decided to have one more go! and of course I didn't want to miss out if they did happen to win big! ahah so i played.. only to find we lost it all! so after all of that we are all now 67p down! Ohh well I was worth a shot!

The point I am making with this post is that the lotto is usually just a gambol but as all business or money making ventures should be to me this was a calculated risk. There is approximately a one in 4.5 chance of becoming a winner of any amount and with 3 cards between us we had a 3 out of 4.5 chance of winning! This is obviously a risk with a higher probability of being a positive outcome (although winnings must be above £6 as of the 3 way split). And it turned out to be a good risk! however I didn't see this at the time but agreeing to take the second bash at big money was a bad probability as we would now have odds of 6 to 9 (2 to 3) and having already one the chances of us winning a second time was now 1 in 3! a much higher risk! and obviously we did not win again! so play smart and don't be tempted when the risk is not a calculated one!!

Anyone else had more luck with these?! xx libby xx


  1. I love your new blog! I followed! Keep up the good work and I am excited to read your future posts!


  2. Of course I remember you! I love the new career focus of your blog. I take it you've found a passion in economics? My brother is an economics major and let me tell you, there are a lot of great opportunities for jobs!!

  3. Haha, there's always a greedy friend! In my case it tends to be my other half ... he's terrible and always wants to 'reinvest' his winnings. Which is fine if you're reinvesting in something that isn't going to lose you money lol. Anyway, great blog - I will be signing up as a new follower xx