(Topic ID: 227697)

Lotto 1.6 billion, Buy Now!


By Azmodeus

6 months ago



Topic Stats

  • 16 posts
  • 11 Pinsiders participating
  • Latest reply 5 months ago by underlord
  • No one calls this topic a favorite

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    #1 6 months ago

    https://www.calottery.com/play/draw-games/mega-millions

    Not everyone even plays the lottery.

    But at 1 plus billion, for two dollars go buy a ticket I suggest.

    Can you imagine winning? Yes, I can imagine!

    #2 6 months ago

    Wouldn't it be just great if one of us pinsiders hit this.

    #3 6 months ago
    Quoted from Azmodeus:

    Wouldn't it be just great if one of us pinsiders hit this.

    Odds are not just against anyone, they are ridiculously high against anyone. 3.2 million to one last estimate. Good luck though.

    Waste of a dollar. or ten, or twenty.

    #4 6 months ago

    I agree. A ticket is two dollars.

    I'm not a mathematician, but based on the odds, I think it makes more financial sense to keep the two dollars.

    Quoted from underlord:

    Odds are not just against anyone, they are ridiculously high against anyone. 3.2 million to one last estimate. Good luck though.
    Waste of a dollar. or ten, or twenty.

    #5 6 months ago
    Quoted from Mistermoberg:

    I agree. A ticket is two dollars.
    I'm not a mathematician, but based on the odds, I think it makes more financial sense to keep the two dollars.

    If your odds are winning 1.6 bil for paying 2 dollars, and your odds are 320 million to one, its actually a good bet, pot odds wise. Well maybe not depending what the odds of a tie are, its probably close to a good bet though

    #6 6 months ago

    $2 is worth the billion chance...someone has to win eventually....I think....

    #7 6 months ago

    If you want to play the lottery, here's the real strategy if you want to win big.

    Put $10 a week in a bank account. Start when you're 16.

    By the time you're 55, you'll have saved over $20,000 and with even small interest would probably be at $25k

    Then wait until the jackpot gets to above $1bn, and spend all your $25k on one jackpot. so your 1 in 300,000,000 chance goes all the way down to a 1 in 24,000 chance which is 5x more likely than being struck by lightning.

    Or, when you turn 55, take that $25k and go on a really nice vacation

    #8 6 months ago

    Two dollars to dream.
    If I was to win this there would be a wicked arcade built near me. Fullerton ca.

    #9 6 months ago
    Quoted from Scorch:

    1 in 300,000,000 chance

    So if one could play all 300,000,000 options... WINNER

    #10 6 months ago
    Quoted from Scorch:

    If you want to play the lottery, here's the real strategy if you want to win big.
    Put $10 a week in a bank account. Start when you're 16.
    By the time you're 55, you'll have saved over $20,000 and with even small interest would probably be at $25k
    Then wait until the jackpot gets to above $1bn, and spend all your $25k on one jackpot. so your 1 in 300,000,000 chance goes all the way down to a 1 in 24,000 chance which is 5x more likely than being struck by lightning.
    Or, when you turn 55, take that $25k and go on a really nice vacation

    EDIT:Spitballing compounding interest is a bad idea

    And your odds of winning don't change like that. There's one winning combination, so you have a 1 in 300+ million chance of holding a winning ticket. The only odds that change are your likelihood of splitting it with yourself or another person because with more tickets the chance of duplicates goes up. That's why watching Mayweather blow $2000 on lottery tickets was just a SMH moment...

    #11 6 months ago
    Quoted from vireland:

    Your math was way off. Even at only 2% interest, you'd have over $40k, but if you put it in stocks and averaged 10% annually (highs and lows are smoothed out over time to about that), you'd have well over $400k after 35+ years.
    And your odds of winning don't change like that. There's one winning combination, so you have a 1 in 300+ million chance of holding a winning ticket. The only odds that change are your likelihood of splitting it with yourself or another person because with more tickets the chance of duplicates goes up. That's why watching Mayweather blow $2000 on lottery tickets was just a SMH moment...

    My math is way off?????

    2% interest (not many banks will give you that) over 39 years at $520 invested per year is $30,000. i do get 15% at least on my investments, but this example was just sticking it in the bank with 1% interest as a base case.

    But, apparently, you think that the odds of winning is 1 in 300 million no matter how many tickets you buy.... so using your math, a person who spends $600 million to buy every single number has the exact same chance as a person who spends $2 on a single ticket. You do realize that each ticket you buy would have a different combination of numbers right? SMH.

    #12 6 months ago

    Bought a couple of tickets this morning....

    If I win, my new mantra will be Dennis Leary's "Im an asshole" song....

    #13 6 months ago
    Quoted from vireland:

    Your math was way off. Even at only 2% interest, you'd have over $40k, but if you put it in stocks and averaged 10% annually (highs and lows are smoothed out over time to about that), you'd have well over $400k after 35+ years.
    And your odds of winning don't change like that. There's one winning combination, so you have a 1 in 300+ million chance of holding a winning ticket. The only odds that change are your likelihood of splitting it with yourself or another person because with more tickets the chance of duplicates goes up. That's why watching Mayweather blow $2000 on lottery tickets was just a SMH moment...

    if you're putting in $10 a week for 39 years, at 2% annual interest, you do not get to $40k. At 10% annual interest you'd be around $230k. and if you buy $2000 worth of unique tickets you do improve your chances of winning...

    Quoted from Atari_Daze:

    So if one could play all 300,000,000 options... WINNER

    if you were the sole winner you'd come out ahead... by probably 200M, but if you have to split with even one other winner you'd be in the hole...almost as much

    #14 6 months ago

    Don't bother playing, I have the winning ticket.

    #15 6 months ago
    Quoted from misterschu:

    if you're putting in $10 a week for 39 years, at 2% annual interest, you do not get to $40k. At 10% annual interest you'd be around $230k.

    That's what I get for spitballing. ~$31k at 2% and ~$230k at 10% in 39 years. Nothing to sneeze at.

    Quoted from misterschu:

    and if you buy $2000 worth of unique tickets you do improve your chances of winning...

    It improves your relative odds, but your absolute odds are essentially unchanged. So doesn't really improve your real-world odds.

    #16 5 months ago
    Quoted from Stones:

    Bought a couple of tickets this morning....
    If I win, my new mantra will be Dennis Leary's "Im an asshole" song....

    In that spirit be sure to gloat and rub it in. I’d expect no less.

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