Lotto question...

[xchangx]

Ok, suppose the Big Game jackpot is at $300,000,000. Off of Big Game's website it says the odd are 1:76,275,360. Now, suppose you just happen to have $76,275,360 lying around. Would it be feasable (sp?) to buy that many tickets to get the jackpot? If you take the jackpot in a lump sum, I think the tax percentage is 33.5% which would take the jackpot to $199,500,000.

Any thoughts?


Chang

 

[kami]

<< Any thoughts? >>


Get out more

 

[nateholtrop]

if you have that much money then why are you worrying about the lottery?? i wouldn't.

nate

 

[jpsj82]

what if ten people got the jackpot, then it would be split among the ten (and you might not make your money back).

 

[xchangx]

get out more?
k... Anyway, think of it as an investment.

 

[fragarific]

yup, 3 tickets won the last powerball lotto when it got up really high.

 

[fragarific]

lump sum:

if 1 ticket won!
$300 million = approx $150 million you get now

after tax: about $90 million


if 2 tickets win, you get $90 million/2 = $45 million

also, it may be difficult to print 75 million tickets.

 

[StageLeft]

Somebody needs a basic class in statistics.

From this class you can garnish the following information: If you want to make use of your money do not play the lotto. They make money on you. Long-term you are giving more money than you're winning.

Lets say you bought all those tickets. Whats to stop a few other people from also getting them? Now you're splitting your winnings (as most of these big winners end up doing), and you've lost money. The lotto is never statistically a good investment. Never ever.

 

[d0ofy]

First off, even if you had $76M, you can't possibly get that many tickets even if you crowded every lotto machine around. It's just impossible. I remember seeing on TV some guy who did this. The odds were much smaller, and so is the payoff. He basically bought 1/3 of the possible combinations. His biggest roadblock was the fact that he couldn't get the actual tickets fast enough. He did win the jackpot though.