Holy Cow 1.6 Billion Powerball

Discussion in 'The Rumble Strip' started by NocturnalPS, Jan 10, 2016.

  1. NocturnalPS

    NocturnalPS Staff Emeritus

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    I do not play the lotto very much. But at this kind of cash to be won, why the hell not! Oh one can only dream. Thoughts?
     
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  2. FoRiZon

    FoRiZon

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    The bigger the price, the lesser chance to win.
     
  3. Imari

    Imari

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    Not quite. The odds are the same, but you've got a bigger chance that you'll have to split the pot with all these extra people playing.

    It gets into slightly funny math because whether it's actually a winning strategy to buy a ticket depends on how many other tickets are sold. But it's probably close enough that it's worth buying a ticket, although I wouldn't go nuts. Normal odds are a bit under 300 million to 1, so as long as the pot only splits in half it's still viable.
     
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  4. opelgt1969

    opelgt1969 Premium

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    The news yesterday said that 75% of all numbers would be picked, if anyone here wins I'd be more than happy to send you a dollar to split with you:idea:
     
  5. ryzno

    ryzno Premium

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    I bought 4 tickets and only got 1 number...
     
  6. BobK

    BobK Premium

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    Lotteries are a tax on ignorance.
     
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  7. Liquid

    Liquid Premium

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    Also the more numbers you have to pick/choose from, the less chance you have of winning. By a colossal exponential.
     
  8. eran0004

    eran0004

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    So, if I understood it correctly there are five white balls drawn from a drum containing 69 balls, and one red ball drawn from a drum containing 26 balls.

    To win the jackpot you need to match all white balls and the red ball (in any order).

    So the chance of winning the jackpot then should be:

    5/69 x 4/68 x 3/67 x 2/66 x 1/65 x 1/26 = 1 / 292 million.

    Good luck :D
     
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  9. Adamgp

    Adamgp

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    [​IMG]
     
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  10. kikie

    kikie Premium

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    Thoughts?

    Way too much money.

    0.1% of 1,300,000,000 is enough.
     
  11. eran0004

    eran0004

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    Indeed :lol:

    In fact, if you can pick the numbers yourself you can guarantee yourself a win by buying 292 million tickets and cover every possible outcome. It will cost you just under $ 600 million at $2 per ticket, but at least you'd be winning (or sharing) the jackpot, and if there are no more than two winners sharing the jackpot you'll have a nice little profit :)
     
    Adamgp likes this.
  12. Northstar

    Northstar Premium

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    It's $2 for a few hours of wondering "what if?" and if you do win it's an amazing investment.

    I see your point though considering there are lots of people that go crazy with it and spend hundreds on it.
     
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  13. NocturnalPS

    NocturnalPS Staff Emeritus

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    Hey always a chance if you play $2 or what was it $500,000+? Better chances then not playing at all.
     
  14. Exorcet

    Exorcet Premium

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    The cost of a ticket is negligible. I think it's all in how you play. If you happen to have annoying pocket change, I can't say throwing it at a ticket is a waste given the immense return potential.

    There is no such thing as too much money. Anything finite will eventually run out. The good news with this kind of money though is that you could live off interest on it alone.
     
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  15. kikie

    kikie Premium

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    It was personal. For me personal 1,3 billion is way too much money. I have no need for that kind of money.
     
  16. Blitz24

    Blitz24 Premium

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    I really want the payout to be listed $1.3 billion dollars* because people don't realize that you will lose quite a bit of the money to taxes. It's state dependent but the payout could be anywhere between 650 million to 900 million. Also, it goes by the state you have residency in so you can't pull a fast one.

    I am 8,111 times more likely to be killed by a sharp object (even if I avoid sharp objects) than winning the powerball. On the other hand, I am 1,000 times more likely to win the powerball than if I were blindfolded and forced to hit specific star on a map that showed every single star in the Milky Way with a dart.
     
    Northstar likes this.
  17. Exorcet

    Exorcet Premium

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    Well if anything, the bigger the prize, the more people you can give the unwanted money to. You could support a charity, you could found a charity. You could pay for the remodeling of every house on your street whether you know the owner or not. $1.3 billion could be spent in a day I think, and it wouldn't necessarily be a bad thing.
     
  18. G.T.Ace

    G.T.Ace

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    I gladly take the majority if it. I know what I'd do with a billion dollars, including tons of charity programs and science stuff.
     
  19. Omnis

    Omnis Staff Emeritus

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    The lottery is a measure of the subjective value placed on the people's romance.
     
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  20. Northstar

    Northstar Premium

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    I would recreate Brewsters Millions with a random person.
     
  21. Blitz24

    Blitz24 Premium

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    Hey if you win then in 30 years you might be able to buy the Dolphins!
     
  22. Omnis

    Omnis Staff Emeritus

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    If I bought the Dolphins I'd be poorer than I am now, and I'm broke.
     
  23. Blitz24

    Blitz24 Premium

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    Isn't JLo still part owner? You could marry her and.... I have no idea where this is going.
     
  24. R1600Turbo

    R1600Turbo Premium

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    I bought 3 lines ($6) and ended up getting 1 number in each line. :(
     
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  25. kikie

    kikie Premium

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    Changed my mind, I want to win 1,3 billion. :D
     
    Northstar likes this.
  26. Blitz24

    Blitz24 Premium

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    Too late, you lost your chance.
     
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  27. Joey D

    Joey D Premium

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    If it makes you feel any better you end up with about a third of it after taxes and opting to take it in all one lump sum.
     
  28. Robin

    Robin Premium

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    I never play the lottery, even when a big draw comes up I'm not really tempted because all the extra people buying will make it even harder to win. I have never won anything else in my life and it's made me pretty cynical about my luck!

    Yesterday the biggest ever UK jackpot of £66 million pounds was won by 2 people and you pay no tax on it here. But the cheeky lottery people recently made it much more difficult to win because they increased the number of balls therefore making the chance of winning thousands of times lower.
     
  29. Blitz24

    Blitz24 Premium

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    If you give a class on this telling them they have no chance you make it easier for us idiots to win! Please do it! :lol:
     
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  30. photonrider

    photonrider

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    I agree - baiting a line with two buck's worth of wormfood and not hooking anything is one thing. Pawning your car to buy a whole whack of tickets is another.
     
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