$310 Million Expected Winnings for Mega Millions

[mrrman]

got 1 number only

 

[Pepsei]

Originally posted by: JLGatsby

Originally posted by: MaxDSP

Originally posted by: JLGatsby
BREAKING NEWS: EVERYONE ON ATOT LOST THE LOTTERY.

:roll:

You seem to be missing the point here. Take your head out of your lower body orifice and let the rest of the people enjoy this thread. You are not any smarter (I'd go in the other direction on this one for you) than anyone here, everyone in this thread knows the possibility of them winning is very very low. They mostly buy the ticket as an ENTERTAINMENT sort of thing, NOT as an investment.

For the record, I've never played the lottery, and I don't intend to anytime soon.

What's so entertaining about losing?

what's so entertaining about laughing at other people who plays lotto?

 

[Conky]

Originally posted by: JLGatsby

Originally posted by: MaxDSP

Originally posted by: JLGatsby
BREAKING NEWS: EVERYONE ON ATOT LOST THE LOTTERY.

:roll:

You seem to be missing the point here. Take your head out of your lower body orifice and let the rest of the people enjoy this thread. You are not any smarter (I'd go in the other direction on this one for you) than anyone here, everyone in this thread knows the possibility of them winning is very very low. They mostly buy the ticket as an ENTERTAINMENT sort of thing, NOT as an investment.

For the record, I've never played the lottery, and I don't intend to anytime soon.

What's so entertaining about losing?

It's the story of your life so you tell us! :laugh:

 

[imported_Mike]

Originally posted by: JLGatsby

Originally posted by: MaxDSP

Originally posted by: JLGatsby
BREAKING NEWS: EVERYONE ON ATOT LOST THE LOTTERY.

:roll:

You seem to be missing the point here. Take your head out of your lower body orifice and let the rest of the people enjoy this thread. You are not any smarter (I'd go in the other direction on this one for you) than anyone here, everyone in this thread knows the possibility of them winning is very very low. They mostly buy the ticket as an ENTERTAINMENT sort of thing, NOT as an investment.

For the record, I've never played the lottery, and I don't intend to anytime soon.

What's so entertaining about losing?

Have you ever played poker? blackjack? slots? asked a girl out that is way out of your league?

Sometimes you hit the jackpot. Sometimes...

 

[JLGatsby]

Originally posted by: CheapArse

Originally posted by: JLGatsby

Originally posted by: MaxDSP

Originally posted by: JLGatsby
BREAKING NEWS: EVERYONE ON ATOT LOST THE LOTTERY.

:roll:

You seem to be missing the point here. Take your head out of your lower body orifice and let the rest of the people enjoy this thread. You are not any smarter (I'd go in the other direction on this one for you) than anyone here, everyone in this thread knows the possibility of them winning is very very low. They mostly buy the ticket as an ENTERTAINMENT sort of thing, NOT as an investment.

For the record, I've never played the lottery, and I don't intend to anytime soon.

What's so entertaining about losing?

Have you ever played poker? blackjack? slots? asked a girl out that is way out of your league?

Sometimes you hit the jackpot. Sometimes...

Poker is not a gamble, it's a game of skill. I am an avid player. It's a competition.

I have played a slot machine before, but I left shortly because of the overwelming feeling of stupidity that overcame me. Why would anyone play a game where the odds dictate that if you play long enough, you're assured of losing? Same with blackjack.

And no girl is out of Gatsby's league.

 

[iamme]

i didn't win

but then again, i didn't play

 

[JLGatsby]

Originally posted by: iamme
i didn't win

but then again, i didn't play

You did win. You're a dollar ahead of everyone else and you have your self respect. Congrats.

 

[Slvrtg277]

Originally posted by: JLGatsby

Originally posted by: iamme
i didn't win

but then again, i didn't play

You did win. You're a dollar ahead of everyone else and you have your self respect. Congrats.

You really need to calm down some and lighten up man. It's a lowly dollar. That's all. I bought 1 ticket the other day for last nights drawing and then had a blast talking with co-workers about all the crazy stuff we'd do with that kind of cash/how we'd invest it, etc. It was a good time. Then I found a beautiful house in my area that I have absolutely no chance to afford in my lifetime unless I won the lottery (but that's ok because I really do not need a $750,000,000 home) and took the virtual tour of it. It was impressive to check out and I probably wouldn't have looked it up if it weren't for all the lottery talk.

See? It was fun. For a buck. Fun......harmless fun. Quit being such a stiff shirt about this. You're coming across as a grade A jackass.

 

[JLGatsby]

Originally posted by: Slvrtg277

(but that's ok because I really do not need a $750,000,000 home)

There are no $750,000,000 homes in the United States. The most expensive home in the country cost $180,000,000 while the highest sale price for a already constructed house was $90,000,000 (even though most of the cost was in the land).

 

[new2AMD]

Originally posted by: JLGatsby

Originally posted by: iamme
i didn't win

but then again, i didn't play

You did win. You're a dollar ahead of everyone else and you have your self respect. Congrats.

self respect? who were you before youwere banned? who are you going to come back as?

 

[iamwiz82]

Originally posted by: new2AMD

Originally posted by: JLGatsby

Originally posted by: iamme
i didn't win

but then again, i didn't play

You did win. You're a dollar ahead of everyone else and you have your self respect. Congrats.

self respect? who were you before youwere banned? who are you going to come back as?

Dammit, where is the "Don't Feed the Trolls" sign when you need it?

 

[JLGatsby]

Originally posted by: iamwiz82

Originally posted by: new2AMD

Originally posted by: JLGatsby

Originally posted by: iamme
i didn't win

but then again, i didn't play

You did win. You're a dollar ahead of everyone else and you have your self respect. Congrats.

self respect? who were you before youwere banned? who are you going to come back as?

Dammit, where is the "Don't Feed the Trolls" sign when you need it?

*Nixon voice* I am NOT a troll!!

 

[Slvrtg277]

Originally posted by: JLGatsby

Originally posted by: Slvrtg277

(but that's ok because I really do not need a $750,000,000 home)

There are no $750,000,000 homes in the United States. The most expensive home in the country cost $180,000,000 while the highest sale price for a already constructed house was $90,000,000 (even though most of the cost was in the land).

There you go. Completely dodge my actual point and capitalize on my exaggeration troll.

 

[gigapet]

Originally posted by: iwantanewcomputer
i'm not saying to not buy them...you are just fighting a loosing battle

your chances are slim but if you dont play you dont even have a slim chance.

 

[sciencewhiz]

Originally posted by: QurazyQuisp
I doubt that... There is a 1 in 168,000,000 chance of you winning, the amount you win would be less then 168,000,000 if you took the cash option. Since there is a 1 in 168,000,000 chance of winning, that'd mean that you'd have to pay for 168,000,000 tickets. Even the prizes below that jackpot would not give you enough money to justify it. You'd have to wait until like it hits 400,000,000 to even consider that, and to my knowledge the lottery has never been that high.

Don't forget that by buying 168million tickets, you increase the jackpot by between 25-40% of what you spent (depending on the lottery). Thus, you do get closer to a 400million jackpot.



This paper may be of interest to the math inclined (trolls have no use for it). It calculates the Expected Return taking into account taxes, lower prizes, and the probability of splitting based on tickets sold. http://www.williams.edu/Economics/wp/mathesonlottery.pdf. Oregon seems to be the best place to play the lottery, at least if they haven't changed the odds since 2001.

 

[sciencewhiz]

Originally posted by: JLGatsby
Poker is not a gamble, it's a game of skill. I am an avid player. It's a competition.

Then you must understand pot odds. If you don't Poker is a game of chance and the lottery is a no win situation. If you do understand pot odds, Poker is a game a skill, and the right lottery play wins.

 

[cKGunslinger]

So we're all agreed? JLGatsby is a douche? Confirmed?

 

[gotsmack]

I hit the powerball number, won $2.

I figured out that the average payout for each play is only greater than a dollar is when the pot tops $237.21 million. Then you have to figure out time value of money for annuity payments, unless you figure that is cancled out by the odds are kinda evened out by the chance to win some of the smaller pots.

I used numbers from the odds table here http://www.state.nj.us/lottery/games/1-1_mega_millions.shtml#odds and added in the 35% top fed tax rate

but the odd things is kinda strange, why is the powerball odds 1 in 75 when there are only 46 numbers?

 

[cKGunslinger]

Originally posted by: chowderhead

Originally posted by: mercanucaribe
If you buy 5 tickets do the odds drop to 5/168000000, and so on? If so, you buy 10 tickets and you have a 1/16.8mil chance to win 300mil.. Seems like good odds.

uh - no. Each ticket has the same chance of winning 1:168 million whether you buy 1 or buy ten.

uh - no. As long as each ticket has a unique combination of numbers, you are increasing your odds by decreasing the amount of combinations you don't own.

By your logic, betting on multiple spaces on a roulette wheel would be useless, as they all have the same chance in winning. :roll:

 

[mchammer187]

Originally posted by: gotsmack
I hit the powerball number, won $2.

I figured out that the average payout for each play is only greater than a dollar is when the pot tops $237.21 million. Then you have to figure out time value of money for annuity payments, unless you figure that is cancled out by the odds are kinda evened out by the chance to win some of the smaller pots.

I used numbers from the odds table here http://www.state.nj.us/lottery/games/1-1_mega_millions.shtml#odds and added in the 35% top fed tax rate

but the odd things is kinda strange, why is the powerball odds 1 in 75 when there are only 46 numbers?

probability of hitting the powerball/megaball and none of the white balls

 

[Storm]

Originally posted by: JLGatsby

Originally posted by: CheapArse

Originally posted by: JLGatsby

Originally posted by: MaxDSP

Originally posted by: JLGatsby
BREAKING NEWS: EVERYONE ON ATOT LOST THE LOTTERY.

:roll:

You seem to be missing the point here. Take your head out of your lower body orifice and let the rest of the people enjoy this thread. You are not any smarter (I'd go in the other direction on this one for you) than anyone here, everyone in this thread knows the possibility of them winning is very very low. They mostly buy the ticket as an ENTERTAINMENT sort of thing, NOT as an investment.

For the record, I've never played the lottery, and I don't intend to anytime soon.

What's so entertaining about losing?

Have you ever played poker? blackjack? slots? asked a girl out that is way out of your league?

Sometimes you hit the jackpot. Sometimes...

Poker is not a gamble, it's a game of skill. I am an avid player. It's a competition.

I have played a slot machine before, but I left shortly because of the overwelming feeling of stupidity that overcame me. Why would anyone play a game where the odds dictate that if you play long enough, you're assured of losing? Same with blackjack.

And no girl is out of Gatsby's league.

What about ones that play the lottery?

 

[Schfifty Five]

Originally posted by: cKGunslinger

Originally posted by: chowderhead

Originally posted by: mercanucaribe
If you buy 5 tickets do the odds drop to 5/168000000, and so on? If so, you buy 10 tickets and you have a 1/16.8mil chance to win 300mil.. Seems like good odds.

uh - no. Each ticket has the same chance of winning 1:168 million whether you buy 1 or buy ten.

uh - no. As long as each ticket has a unique combination of numbers, you are increasing your odds by decreasing the amount of combinations you don't own.

By your logic, betting on multiple spaces on a roulette wheel would be useless, as they all have the same chance in winning. :roll:

cK's got it right. If I bought every possible combination of numbers (which of course is utterly retarded, but just hear me out lol) then are my chances still 1:168mill? I don't think so since one of those tickets will be the winner since I have every possible combination. Thus my chances of winning is 1:1

 

[Azurik]

Originally posted by: Schfifty Five

Originally posted by: cKGunslinger

Originally posted by: chowderhead

Originally posted by: mercanucaribe
If you buy 5 tickets do the odds drop to 5/168000000, and so on? If so, you buy 10 tickets and you have a 1/16.8mil chance to win 300mil.. Seems like good odds.

uh - no. Each ticket has the same chance of winning 1:168 million whether you buy 1 or buy ten.

uh - no. As long as each ticket has a unique combination of numbers, you are increasing your odds by decreasing the amount of combinations you don't own.

By your logic, betting on multiple spaces on a roulette wheel would be useless, as they all have the same chance in winning. :roll:

cK's got it right. If I bought every possible combination of numbers (which of course is utterly retarded, but just hear me out lol) then are my chances still 1:168mill? I don't think so since one of those tickets will be the winner since I have every possible combination. Thus my chances of winning is 1:1

Can someone figure out (I haven't done combo's/permu's in a while) how many different combination of numbers are there? I want to see what the ratio to $310 million is

 

[cKGunslinger]

Originally posted by: Azurik

Can someone figure out (I haven't done combo's/permu's in a while) how many different combination of numbers are there? I want to see what the ratio to $310 million is

Text

 

[jammur21]

I matched the mega number and won my $2 back.