One billion dollar lottery ?

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Originally Posted By: supton
Originally Posted By: surfstar
Spent $10 for Sat's drawing. We matched ONE number. Woohoo!


Really? I figured you'd be the type to not buy any tickets, let alone multiples.


I know that the chance of winning is basically nil, but you can't dream about quitting your job if you don't actually play!
wink.gif


Also, if there's an office pool, you have to buy in. Its a hedge bet, so that you're not the one who is stuck with a huge workload when everyone quits.
 
Winning $1,300,000,000, I wouldn't mind being taxed on $44,827,586.20 per year for the next 29 years. Might be a little rough, but I could manage.
 
Originally Posted By: Toy4x4
Winning $1,300,000,000, I wouldn't mind being taxed on $44,827,586.20 per year for the next 29 years. Might be a little rough, but I could manage.


Worst part would be I'd lose all my deductions...all $800 of them.
 
Originally Posted By: supton
Originally Posted By: surfstar
Spent $10 for Sat's drawing. We matched ONE number. Woohoo!


Really? I figured you'd be the type to not buy any tickets, let alone multiples.


Agreed. Personally I think buying more then 1 ticket is not getting you statically significant closer to winning. Some one needs to explain this to folks(not surfstar) who really should not blow a $20 or even $100 on them....Turns into tax on stupid and statistically challenged.
 
Originally Posted By: madRiver
Originally Posted By: supton
Originally Posted By: surfstar
Spent $10 for Sat's drawing. We matched ONE number. Woohoo!


Really? I figured you'd be the type to not buy any tickets, let alone multiples.


Agreed. Personally I think buying more then 1 ticket is not getting you statically significant closer to winning. Some one needs to explain this to folks(not surfstar) who really should not blow a $20 or even $100 on them....Turns into tax on stupid and statistically challenged.

But if I buy 2 tickets, it doubles my chances of winning.
That is the thinking of most.

That being said, I will probably buy another 5 quick picks for this next drawing too.
Why not just 1, well, it quintuples the chance of me winning!
grin.gif
 
Originally Posted By: blupupher
Why not just 1, well, it quintuples the chance of me winning!
grin.gif



Yep, you have a 0.00000005% chance of winning instead of just 0.00000001%.

Or whatever the real numbers are
grin.gif
 
Saturday my two tickets had exactly zero matching numbers. Clearly that means this one ticket is going to pay off big this week.
 
suppose you do hit the numbers; where will you be saving that piece of paper until you walk to the lottery office? will you hire armored vehicle to take you to the lottery office to collect your money? will you take lump sum? would your bank be able to deposit that big of a check or would they put 30-year hold on it?

The time lapse between having the winning ticket and claiming the prize would drive me completely insane because the what if scenario of the ticket getting accidentally destroyed would be playing in my head :-(
 
Originally Posted By: Vikas
The time lapse between having the winning ticket and claiming the prize would drive me completely insane because the what if scenario of the ticket getting accidentally destroyed would be playing in my head :-(

I think we all wish we had that problem.
smile.gif
 
Originally Posted By: HTSS_TR
It's more than $1.4 billion now, may get to $1.5 billion by Wednesday evening.

Good gosh that's a lot of money!
 
You really have to treat it as 'entertainment' money. Not gambling, investing or anything else.
$2 lets you have a dream for a few days.

unlimited travel, relaxation, whatever I wanted without the dread of knowing I have to go back to work after the weekend/vacation is over. That would be nice.
 
Originally Posted By: surfstar
You really have to treat it as 'entertainment' money. Not gambling, investing or anything else.
$2 lets you have a dream for a few days.

unlimited travel, relaxation, whatever I wanted without the dread of knowing I have to go back to work after the weekend/vacation is over. That would be nice.


Buying a ticket infinitely increases your odds of winning, as no ticket is zero, 1 ticket while tiny odds is infinitely more...the second ticket doesn't improve your position any where near that much.

I agree, a few bucks a week on a lottery, particularly an office pool isn't the same as gambling.

I grew up in a house where my father WAS a gambler. House payment in pocket, go to the TAB with the intent to make two house payments, lose that, cash a cheque, put 80% of the cash in the bank as a deposit, rinse and repeat, so that the cheques and the bank balance never quite caught up.

FIL had a newsagent, and many old age pensioners spent $80-$100 per week on improving their lot...$4-5K that could have been way better spent on lifestyle not lotteries.

My state privatised the lotteries some years ago...$450M p.a. cash cow, they sold it for $1B...neighbouring state repeated the process, and the same company bought it, and rolled both lotteries into a single draw...it's sad that the mathematically challenged in Govt would sell an income stream of such magnitude for a relative pittance.
 
Originally Posted By: Shannow
My state privatised the lotteries some years ago...$450M p.a. cash cow, they sold it for $1B...neighbouring state repeated the process, and the same company bought it, and rolled both lotteries into a single draw...it's sad that the mathematically challenged in Govt would sell an income stream of such magnitude for a relative pittance.


That's corruption, not mathematically challenged.
 
Like they say...it's about the dream and not about the odds at this point. I wouldn't doubt that there could be 300-400 million in "curiosity" sales of PowerBall tickets on Wednesday.

I've already been advised that I have a greater chance of being canonized by the Pope than winning the jackpot, so I'm waiting on what kind of similar analogous comparison they come up with if the jackpot goes to 1.5 or 1.6 billion.
 
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