Powerball 1.9 Billion Tomorrow

[gouch]

You sure about that?

I'm pretty sure it would be 20:292,200,000... still unbelievably small chance of winning, but a 20x improvement in odds (assuming they're 20 different sets of numbers.

You don't take the number of tickets off the denominator; you add it to the number of chances, the numerator.

You're probably right, I never was good at math. Either way the odds don't increase enough for me to spend more than two dollars. Except if I win a small amount then I will risk the proceeds of those winnings.

 

[noharleyyet]

 

[Tradewind]

How much is Powerball?
Is it $2, (+$1 for powerplay) as the Powerball website says:

How​

Powerball® costs $2 per play.
Select five numbers from 1 to 69 for the white balls; then select one number from 1 to 26 for the red Powerball.
Choose your numbers on a play slip or let the lottery terminal randomly pick your numbers.
The Powerball jackpot grows until it is won.
Players win a prize by matching one of the 9 Ways to Win.

Power Play​

Ask for Power Play® with your Powerball purchase!
For an additional $1 per play, the Power Play feature can multiply non-jackpot prizes by 2, 3, 4, 5 or 10 times!
The multiplier number is randomly selected just before each drawing.
The 10X multiplier is only in play when the advertised jackpot annuity is $150 million or less.
The Match 5 prize with Power Play is always $2 million.

Or...
Is it now $3 and Powerball is unable to afford updating it's website? +$1 for powerplay, if you choose?
I'm outside the U.S. currently and my wife is back home in MT, currently. She purchased our tickets yesterday and was charged $3 +$1 for powerplay for each ticket, or so she recalls.

Bah, Never mind. Montana must take their cut as well:

Cost per Play: $3.00

Drawing Days: Mondays, Wednesdays and Saturdays at 8:59 p.m. Mountain Time. You have until 8:00 p.m. on draw days to purchase your Powerball tickets.
Multiple Draws: You may play the same set of numbers for up to 24 consecutive drawings.

Power Play is included with every Powerball purchase! Power Play doubles the Match 5 prize from $1 million to $2 million and increases other prizes according to the chart below. The Power Play number will be drawn separately, but at the same time as the winning numbers for every draw.​

Overall odds of winning a prize in Powerball: 1:24.9
Overall Odds: 1:24.9

you soound like my bookie

 

[Tradewind]

I li

In all honesty, some people who I've always been able to count on would be getting some of it and st. Judes would be getting a LOT of it.

I like St. Judes, they are my favorite charity

 

[Nick87]

I li

I like St. Judes, they are my favorite charity

Same

 

[jace]

I'd be off to Alaska as quick as the check cleared

If I win, I should be able to afford WY elk tag. What would you do?

I'd be off to Alaska as quick as the check cleared

 

[gouch]

When I win tonight, I may just take the annuity. I know I'm not likely to live to see all of it but if I stick to a sticked budget, I think I could get by on $95,000,000 a year and my kids would sure get a nice bonus every year for a while after I am gone.

 

[noharleyyet]

High odds are good, less chance I have to split it with someone other than Uncle Sugar's burgeoning HR department.

 

[MThuntr]

After looking through Swaro glass on a sheep hunt last week I'd definitely buy a spotter and binos. After that I'd have about $75 left over to buy a few boxes of Rainier.


EDIT: I forgot the retainer fee for Gerald's camp cooking services...brats and jalapeno poppers are always better when he cooks them.

 

[Ben Lamb]

High odds are good, less chance I have to split it with someone other than Uncle Sugar's burgeoning HR department.

 

[JohnCushman]

After looking through Swaro glass on a sheep hunt last week I'd definitely buy a spotter and binos. After that I'd have about $75 left over to buy a few boxes of Rainier.


EDIT: I forgot the retainer fee for Gerald's camp cooking services...brats and jalapeno poppers are always better when he cooks them.

Heart too, although you did a mighty fine job at moose camp

 

[PrairieHunter]

I’m buying the crazies checkerboard and donating it to the Usfs. Just to piss @PrairieHunter off. T-minus 2 hours!!

The reason what I said makes you mad is because it's true. Funny how that works.


Government employees are hilarious.

 

[LopeHunter]

You sure about that?

I'm pretty sure it would be 20:292,200,000... still unbelievably small chance of winning, but a 20x improvement in odds (assuming they're 20 different sets of numbers.

You don't take the number of tickets off the denominator; you add it to the number of chances, the numerator.

Correct. What are your odds to roll one die with six sides and roll the 6 to win on your first roll? 1:6.

What if you can roll the die twice and need to get a six on either roll or both to win? 2:6 which is 1:3. Not 1:6 nor 1:5 nor 1:4.

Now, with the lottery there are more than 6 outcomes on one drawing. Whether 1 ticket is bought or 1000 are bought the expected outcome is basically still much less than you spent on the tickets. But, your odds to win the jackpot are 100% better when you buy a ticket.

I agree the math says to not pay the lottery. On the other hand, escapism for the time between ticket purchase to finding out if you have the winning ticket does provide entertainment value. My spouse asked me what would i do different if won a huge jackpot. My answer, sign the back of the ticket, cash in and then disappear if my state does not allow anonymous claiming of the jackpot.

We owe no one anything, are set for retirement, have some future inheritance coming and will never fear whether have a roof over our head and food in the refrigerator. I watched several friends self-destruct over the years. Some started out poor while others started out in very wealthy families. The odds for a spectacular failure in life was much higher from the pool of friends that were from wealthy families.

How to not screw up my family and the next generation or two? The median American household makes $78,000. Half of the households make more and half make less than $78,000. That includes a household that is one person and includes those with three generation under one roof. How do you get a 17 year-old excited about school when a trust is ticking in the near future that will hand over a lump of $1 million or hand over $100,000 a year for life?

My answer. You get the following deal. $25,000 a year in income from the trust when graduate from college or valid training program or join the military and from that point on you can also get $1 from the trust for every $1 you earn up to $250,000 a year for the next 10 years. Then nothing more. I want to promote investing in oneself rather than devaluing the pride one gets from working to make money.

 

[2rocky]

I think I'd like to own an Island...

 

[Oak]

If I win, I should be able to afford WY elk tag. What would you do?

I would buy some Colorado Parks and Wildlife Commissioners.

 

[Ben Lamb]

I want to promote investing in oneself rather than devaluing the pride one gets from working to make money.

 

[jtm307]

tax free muni bonds

 

[Gellar]

Hey in colorado lottery proceeds go to two trust funds that distribute grant money for things like conservation easements, neighborhood parks, fishing access, habitat purchases/protection, hiking/biking trails, and little bit straight to CPW.

It’s kinda like buying sheep raffles, except worse odds. So buy em up!

We received a 400,000$ grant from lottery winnings for our county conservation office’s environmental education center.

 

[Stocker]

First and last ticket I’ll ever buy. You poorsies are gonna need to go to the hardware store to buy some wood screws to put the door back on your trailer houses when I buzz you with my private jet.

#rich #blessed

 

[Deleted member 28227]

Correct. What are your odds to roll one die with six sides and roll the 6 to win on your first roll? 1:6.

What if you can roll the die twice and need to get a six on either roll or both to win? 2:6 which is 1:3. Not 1:6 nor 1:5 nor 1:4.

Now, with the lottery there are more than 6 outcomes on one drawing. Whether 1 ticket is bought or 1000 are bought the expected outcome is basically still much less than you spent on the tickets. But, your odds to win the jackpot are 100% better when you buy a ticket.

I agree the math says to not pay the lottery. On the other hand, escapism for the time between ticket purchase to finding out if you have the winning ticket does provide entertainment value. My spouse asked me what would i do different if won a huge jackpot. My answer, sign the back of the ticket, cash in and then disappear if my state does not allow anonymous claiming of the jackpot.

We owe no one anything, are set for retirement, have some future inheritance coming and will never fear whether have a roof over our head and food in the refrigerator. I watched several friends self-destruct over the years. Some started out poor while others started out in very wealthy families. The odds for a spectacular failure in life was much higher from the pool of friends that were from wealthy families.

How to not screw up my family and the next generation or two? The median American household makes $78,000. Half of the households make more and half make less than $78,000. That includes a household that is one person and includes those with three generation under one roof. How do you get a 17 year-old excited about school when a trust is ticking in the near future that will hand over a lump of $1 million or hand over $100,000 a year for life?

My answer. You get the following deal. $25,000 a year in income from the trust when graduate from college or valid training program or join the military and from that point on you can also get $1 from the trust for every $1 you earn up to $250,000 a year for the next 10 years. Then nothing more. I want to promote investing in oneself rather than devaluing the pride one gets from working to make money.

People do this crap all the time, setting up trusts with incredibly condescending rules.

Between growing up outside of a ski town and going to a fancy east coast school my personal experience is those trust rules do jack shit beyond screwing up parent child relationships.

Some folks are driven some aren’t, some take that trust money and do amazing things at young ages, others get it at 45 and it’s gone by 50, and they are looking for handouts.

YMMV