Powerball is up to $200 million..

[ultimatebob]

It looks like we have another big Powerball jackpot, which means that we've restarted the good ol' Powerball office pool. Contributing to it is more of an insurance policy than anything else, as nobody wants to be that poor schmuck left behind if the entire office wins

I'm curious... if you're in a Powerball state, are you going to play? If so, what's your plan for the money if you win?

Oh... and you can't answer "two chicks at the same time". It's cliche, and I already said it first

 

[MegaVovaN]

Whatever numbers are out there, lottery is for suckers that don't know math, OR for people that take entertainment in nearly guaranteed losing.
I am neither, and I won't waste my money.

edit: but if someone gave me a ticket and it was a winning one, I'd invest it all and live off interest. And tell friends/family/strangers to fuck off, they won't be seeing that money.

edit2: interest will be enough to do do THREE chicks at once. Among other things. Win.

 

[cherrytwist]

Hell yeah I'm going to play. It's worth a buck or two to fantasize what we'd do with the winnings.

I'd build a fully equipped metal fabrication shop and pursue my dream of becoming a world famous metal sculptor.

And whatever the wife wants

edit: And a house. Moats with laser equipped sharks to keep out distant relatives I haven't seen for decades.

 

[GagHalfrunt]

Originally posted by: MegaVovaN
Whatever numbers are out there, lottery is for suckers that don't know math, OR for people that take entertainment in nearly guaranteed losing.
I am neither, and I won't waste my money.

Perhaps if you had the understanding of math you claim you'd understand that at the upper ranges of the jackpot Powerball is actually a decent bet. It's 147 million to one against. If the payoff surpasses that it's not a mathematical travesty to play. In fact given the potential interest earnings on a sum that large the payoff doesn't need to be anywhere near 147 million. You'd easily get far more than the actual winnings in return. And yes, that's even factoring in taxes.

Powerball isn't like a casino where you're going to get ground down over time. It's a tiny investment in a mathematically decent proposition and it allows anyone with a ticket a week to dream about which model yacht they want to buy and which color upholstery they want on the new Aston Martin.

 

[jfall]

The lottery winnings are just too high. They should split it up into 200 1 million dollar winners

 

[redgtxdi]

Originally posted by: jfall
The lottery winnings are just too high. They should split it up into 200 1 million dollar winners

QFT!!!

 

[Inferno0032]

Worth a shot for a buck, people drop dollar bills and leave em' cuz that's how meaningless it can be to some people.

 

[Spineshank]

I always play when it gets this high.

 

[sandmanwake]

Originally posted by: jfall
The lottery winnings are just too high. They should split it up into 200 1 million dollar winners

Whatever, at the rate the dollar is falling these days a measly million would barely get me two chicks at the same time. I'd probably end up with one chick and a midget.

 

[ultimatebob]

Originally posted by: sandmanwake

Originally posted by: jfall
The lottery winnings are just too high. They should split it up into 200 1 million dollar winners

Whatever, at the rate the dollar is falling these days a measly million would barely get me two chicks at the same time. I'd probably end up with one chick and a midget.

Funny... I would have thought that midgets would cost extra

Personally, I think that I'd have to get an entire wall covered with 60" flat panel TV's. I could watch 3 TV channels at once, and still have the coolest multi-monitor setup on AT

 

[Kelemvor]

We had 30 or so people chip in $4 each to get tickets at work. We'll see if we have to close the center on Monday while they look for new staff... heh heh.

 

[sportage]

Powerball is organized crime ran, and its rigged.
Not in who the winner is, but in how its won.
They figured out the higher the pot, the more tickets sell.
And its much more attractive to have one ticket win kamillions than several winners.

If a single ticket wins 200 mill, that gets more attention and desire than 20 people winning and sharing 200mill.
So your chances are not only greatly limited by hitting the right series of numbers,
its then again greatly limited by having been the only one to be holding a single series ticket.

If you chose the right numbers, and so did 10 other people, and another ticket had a numbers that only were picked by one ticket, the 11 winners would default to a loss and the single series ticket would default to a winner.

How you like them odds???

Its rigged to make winning and playing more attractive. And generate more sales.
Hey, its the modern day mob we're dealing with here. Same-o folks, just more presentable.
(You didnt hear it from me)

 

[Kelemvor]

what? They don't have control over who buys what number and what number show up... It always ends up on the news here. Usually even more so when it's a group of people from work or something because they then have a lot more people to interview and put on TV.

 

[BoomerD]

No powerball here...we have the Kahleeforneeya Lotto and Mega-Millions.

 

[natto fire]

It is 200 million annuity, but most people that play lottery games are pretty bad with money, so they will pick the cash option, which is only 99 million.

 

[Zee]

Originally posted by: Captain Howdy
It is 200 million annuity, but most people that play lottery games are pretty bad with money, so they will pick the cash option, which is only 99 million.

pocket change

 

[Pocatello]

I will put in $5 today.

 

[bignateyk]

Just got my $5 stub

 

[bignateyk]

Originally posted by: Captain Howdy
It is 200 million annuity, but most people that play lottery games are pretty bad with money, so they will pick the cash option, which is only 99 million.

You'd be stupid not to take the cash option. The hillbilies that usually win are smart enough to do that, but they are too stupid to invest it.

 

[Pocatello]

Originally posted by: bignateyk

Originally posted by: Captain Howdy
It is 200 million annuity, but most people that play lottery games are pretty bad with money, so they will pick the cash option, which is only 99 million.

You'd be stupid not to take the cash option. The hillbilies that usually win are smart enough to do that, but they are too stupid to invest it.

If I win, I will invest my money in wines, fast cars, faster women, and wasted the rest on useless stuffs.

 

[Throckmorton]

Originally posted by: GagHalfrunt

Originally posted by: MegaVovaN
Whatever numbers are out there, lottery is for suckers that don't know math, OR for people that take entertainment in nearly guaranteed losing.
I am neither, and I won't waste my money.

Perhaps if you had the understanding of math you claim you'd understand that at the upper ranges of the jackpot Powerball is actually a decent bet. It's 147 million to one against. If the payoff surpasses that it's not a mathematical travesty to play. In fact given the potential interest earnings on a sum that large the payoff doesn't need to be anywhere near 147 million. You'd easily get far more than the actual winnings in return. And yes, that's even factoring in taxes.

Powerball isn't like a casino where you're going to get ground down over time. It's a tiny investment in a mathematically decent proposition and it allows anyone with a ticket a week to dream about which model yacht they want to buy and which color upholstery they want on the new Aston Martin.

The ratio of the prize to the odds has absolutely nothing to do with anything. You buy one ticket (or two) for a small chance to win a large amount of money that will make you set for life. That's all it boils down to.

 

[bignateyk]

Originally posted by: Pocatello

Originally posted by: bignateyk

Originally posted by: Captain Howdy
It is 200 million annuity, but most people that play lottery games are pretty bad with money, so they will pick the cash option, which is only 99 million.

You'd be stupid not to take the cash option. The hillbilies that usually win are smart enough to do that, but they are too stupid to invest it.

If I win, I will invest my money in wines, fast cars, faster women, and wasted the rest on useless stuffs.

Obviously. But even after you bought everything you could want, you'd still have millions left over that you could just toss into a high interest savings account, and still probably make as much on the interest as the non-cash option would be paying you per year.

 

[sixone]

I bought the winning ticket on Thursday. Sorry, guys.

 

[JEDI]

Originally posted by: ultimatebob
It looks like we have another big Powerball jackpot, which means that we've restarted the good ol' Powerball office pool. Contributing to it is more of an insurance policy than anything else, as nobody wants to be that poor schmuck left behind if the entire office wins

I'm curious... if you're in a Powerball state, are you going to play? If so, what's your plan for the money if you win?

Oh... and you can't answer "two chicks at the same time". It's cliche, and I already said it first

150M:1 odds

cash pays 1/2 jackpot advertised.

thus need $300M jackpot to play for EV.

if jackpot goes up to $300M, forget Roth IRA. Buy Powerball!

$1000 narrows the odds to 150k:1

Lottery as financial planning tool FTW!