Powerball now only $40m

[Phoenix86]

Are the odds really better when you could buy two tickets before with the $2 essentially cutting the original odds in half with the same $2? :hmm:

Yes.

So buy 2x$2 tickets and DOUBLE your chances at winning!!!

INSTANTLY!!!!!!!!

 

[Phoenix86]

I buy one every week when the jackpot hits 3 digit millions.

:thumbsup:

 

[Engineer]

Yes.

So buy 2x$2 tickets and DOUBLE your chances at winning!!!

INSTANTLY!!!!!!!!

I was talking about the old system of $1 tickets vs the new $2 system (with somewhat better odds). If you bought two of the $1 tickets, you would have better odds (per two dollars spent) than the current single ticket for $2.

 

[ultimatebob]

Could the computer even print out enough tickets fast enough? I'd hate to be the guy in line behind who ever tried this.

Hey... those guys have an army of employees! Have them hit every gas station in the tri-state area

Heh... I wonder if the lottery servers can handle that kind of load... maybe you should hit them early and take down the system before anyone else can get tickets. Sounds like an evil Monty Burns type plan

 

[Phoenix86]

I was talking about the old system of $1 tickets vs the new $2 system (with somewhat better odds). If you bought two of the $1 tickets, you would have better odds (per two dollars spent) than the current single ticket for $2.

I know... I was just teasing that if you bought 2x$2 you'd still double your chance.

Still comes to a basic risk:reward scenario no matter what the costayout is. They just upped the payout number to make it more appealing to the masses, the rest of us who know basic algebra/statistics can still play too (or at least aware the math is important).

 

[the DRIZZLE]

We pay the stupid tax in a pool at work when it goes over $150 million. Our pool went from $2 per person to $4 per person this year when the ticket price went up. I wanted them to just keep it at $2 per person because "doubling our chances to win" by buying 2 tickets per head is really statistically insignificant, but everyone wanted to keep it that way. But I have to keep playing...I can't be the only one left here working if they hit the jackpot!

Those pools are basically blackmail because if you didn't buy in and they won you would have to kill yourself.

 

[Engineer]

Those pools are basically blackmail because if you didn't buy in and they won you would have to kill yourself.

More like an insurance policy.

 

[zinfamous]

Yep, whenever money changes hands the government wants a piece of it. How it works.

You know, I think this is one of those rare cases--comparing the government vs the typical lottery winner--where the government is actually much better at handling money than the comparison.

:hmm:

 

[zinfamous]

If i won something like 250 million i really wouldn't know what to do with it.

I would just cry and give most of it to Bill Gates b/c he would do much more with it than I ever could.

:\

 

[Mike Gayner]

Yep, whenever money changes hands the government wants a piece of it. How it works.

Not in NZ - no taxes on windfalls here. Gambling including lotteries don't attract tax unless you do it professionally (e.g. poker pro).

 

[JEDI]

You type all of that and...

still better odds when spending $2 on the old system than spending $2 on the new system, no?

(**Assuming you weren't stupid enough to buy the same numbers twice with the $2 on the old system, lol).

lol.. ok.. yes better odds under old system

but still statistically insignificant

 

[Dr. Zaus]

I've done the math and if you spent 10min a day, going out of your way, for a lotto ticket, for FREE, you would be making less than minimum wage.

 

[seepy83]

I've done the math and if you spent 10min a day, going out of your way, for a lotto ticket, for FREE, you would be making less than minimum wage.

wtf are you talking about?

 

[Zargon]

I've done the math and if you spent 10min a day, going out of your way, for a lotto ticket, for FREE, you would be making less than minimum wage.

there are only 2 drawings a week, so why would you do it everyday?

 

[rudder]

i don't want to become part of the 1% , so i decline to play

dmcowen674 would never speak to you again.

 

[corwin]

I've done the math and if you spent 10min a day, going out of your way, for a lotto ticket, for FREE, you would be making less than minimum wage.

WTF? How many days would you be doing this to come to this conclusion? This makes no sense whatsoever...

 

[DisgruntledVirus]

Anything that prevents an ATOT group buy on tickets?

 

[corwin]

Anything that prevents an ATOT group buy on tickets?

I was thinking the same thing earlier but I'm not sure about an inter-state spread of winners...could get complicated...but I'd bite

 

[seepy83]

Anything that prevents an ATOT group buy on tickets?

Trust.

 

[Elbryn]

I'm sure you could hire someone to off that "lucky" individual for a very reasonable price.

rethinking that thought. with taxes involved, you'd have to win something like 250-300 million to break even after taxes on the 175million you spent to get 1 of every ticket.

 

[Josh]

Trust.

This. There would have to be some serious legalese to make this happen.

 

[seepy83]

rethinking that thought. with taxes involved, you'd have to win something like 250-300 million to break even after taxes on the 175million you spent to get 1 of every ticket.

They're $2 per ticket now...so you need to spend $350 million to get 1 of every ticket.

Edit: Actually $350,447,020...but who's counting that extra half a million?

 

[Miramonti]

They're $2 per ticket now...so you need to spend $350 million to get 1 of every ticket.

Edit: Actually $350,447,020...but who's counting that extra half a million?

And imagine how many people waiting in line you'd piss off!

 

[dmcowen674]

Originally Posted by FoBoT
i don't want to become part of the 1% , so i decline to play

dmcowen674 would never speak to you again.

Shirley not every 1%er is bad

 

[DisgruntledVirus]

Trust.

This. There would have to be some serious legalese to make this happen.

Well, it wouldn't be that difficult would it? Each person buys tickets in their own state, and we pool tickets by posting pictures of the numbers in the thread and only people who post pics of their tickets are "in" on the pool.

I don't think it would require much legalese kung fu to get it to be an agreement to pool tickets. However, I do think it might run into issues from state laws and such. Where is MotionMan when you need him???