Who else here invested in the 1.5 Billion dollar powerball?
>bought 2 tickets
>MFW my chances to win are doubled, pretty much a sure thing now.
I am buying 292 million tickets
I have a guaranteed chance to win
>mfw I bought the winning numbers, 13 20 40 51 60 05, and will share them freely on 4chan for my fellow NEETS
I'm going to buy a ticket with those numbers. If it does win, you just cut your winnings by a half- way to go retard!
jesus youre dumb.
cash option about $800 mil
after US gov't gets 'their share'
that is halved.
You are in the hole 200mil.
then you also decimated an entire forest full of trees to print out your damn tickets.
>you also decimated an entire forest full of trees
take that trees!
you fuckers have been looking at me the wrong way lately, now your gonna get whats coming.
Human master race wins again.
>be Bill Gates
>Spend 584 million on the PowerBall, buying every ticket
>100% chance to win $.9 billion post-tax.
>Profit an easy 300 million.
Seriously, why hasn't he done this? If I had 594 million, I'd do it.
>have to organize parties to purchase the tickets for you
>need to pay these individuals
>need to trust these individuals not to fuck up
>if it ends in a split, you just lost a lot of money
also, where the fuck are you getting $900m from? you're not walking out with more than 600m after all deductions/taxes.
And you can't forget that you get a 5% COLA on the annuity every year.
Let's assume the estimated jackpot is correct at 1.5 billion. Divide that by 30 (number of payments) and you get 50 million per payment. With a 5% COLA every year that compounds on each payment, you end up with an end payment of $205,806,779.77. Now I'll do some more math and actually add it all up for you. The total amount of money that you get for choosing the annuity (before taxes, but we'll assume that taxes will just chop it in half) in ten years, meaning 11 payments (you get the first one immediately) is $710,339,358.12, almost as much as you'd get for taking the lump sum, but that still isn't as much as you will be getting, and it's also assuming that you aren't spending or investing any of your payments. At twenty years and 21 payments, the total amount of money given to you you is $1,785,962,590.40 which is more than the total of the jackpot with only slightly under one third of the payments still left unpaid. The grand total amount of money given to the jackpot winner (assuming that there is only one, and that the winner does not spend any of their winnings or make any further investments on the issued winnings is $3,321,942,375.16 which is over three times the cash jackpot.
Feel free to check my math, I might have made a mistake somewhere, so please correct me if I'm wrong. As stated above, this is only gross winnings issued by the lottery and does not take into account spending, further investment on the part of the winner, or the monetary cost of waiting 29 years for 3.3 billion dollars. If there are other math gurus about, who I'm sure are better at it than me, it'd be great if they could make a cost-benefit analysis on who would have more money over 29 years (discounting taxes, as they vary state by state), the person who chooses the annuity, or the person who chooses the cash option, assuming no spending, and a 7% rate of return for personal investments for both.
>you can't win if you don't play, anon
>fine. I'll just go out with TayShawn. He won because he wasn't a Jew and bought a ticket, he said he'd make love to me in his Lamborghini
Does playing 6 consecutive numbers have less of a chance than spread out ones? I don't think it does, the machine isn't actually generating numbers like a computer chip, its just popping out balls that happen to have colors in the shapes of numbers on them. Either way, it's 1/60 for the first number * 1/59 for the second * 1/58 for the third... Right?
One anon in another thread said the annuity is just the cash value invested in U.S. Bonds. So you can easily beat the annuity's rate of return yourself or just turn it over to your banks wealth management.
The main difference between the annuity and the cash payment is that the annuity isn't taxed until you actually RECEIVE the payment, and so you're working with a higher principal. Let me run a compound interest computation with assuming a 7% annual rate of return (which is a very good average rate of return) off of $500 million, half of a cash payout of 1 billion, a little higher than the actual payment, but a round number, and assuming 29 years of investment like the annuity. The total comes out to $3,557,128,524.61, a little more than my calculation of what you get from the annuity payment without the effects of taxes upon the annuity payment. However, what you also need to consider is that any spending that you do on the principle, especially early on, drastically reduces that end number, and it ALSO assumes that in taking the annuity, you never invested any of the annuity payments. I also did not account for taxes in the annuity payments, because I'm just too lazy right now, so there's that to consider as well.
You are disregarding the time value of money.
Specifically what can be earned on the lump sum while you are waiting for the payments of the annuity. 500 million at 8% over 20yrs becomes 2.3 billion. 5% 1.3 billion. So you can quickly see that the annunity is giving you less than 5% interest for your money. If you can do better then you should get the cash option. If you suck then by all means get the annuity. Note: we are in a low interest rate environment and advice might change if we were in a high one. Matter of fact given the interest rates are going to slowly rise it makes even more sense to get the cash option. Any idiot will be able to get 5%.
Pulled out all the cash in my wallet ($12) bought 6 quick picks.
I always feel embarassed playing the lotto.
The noob next to me tried buying with credit card, lol.
It was obviously his first time participating in a lottery.
Good luck and good night faggots.
>that is halved.You are in the hole 200mil.
I think we can all agree that buying 300 million tickets is not worth it. But at the same time buying 1 ticket gives you practically no chance to win.
What is the optimum number of tickets to give you a shot at winning without cutting to much into your winnings? would 100,000 tickets give you a good chance?
How do I convince someone on sub-leasing a room but they think the room is small?
Running out of ideas on what to say
08 18 37 43 64 P20
I don't live in the USA, nor have I bought a ticket. However, if I end up beating the 292 million to 1 odds without even entering, fuck me then.
>inb4 I actually predicted the numbers
>inb4 conspiracy theories
>inb4 mega shitstorm
I placed a free bet on it via a UK gambling site... they don't buy the tickets but will match the payout - claiming their insured for the jackpots on any lottery they cover (allegedly this is audited by KPMG)
gambling winnings are tax free in the UK... though I'm skeptical that the site is insured for the actual jackpot... still it was a free entry for signing up so meh...
this has happened before in smaller lotteries when multiple rollovers make buying a ticket a +ev proposition... it is harder to pull off with something like powerball though as there are too many tickets to purchase... has happened in lotteries where only a 6 or 7 figure sum was required
fuck the annuity
You don't want to take the credit risk of any state. You could get Puerto Ricoed or Detroited because you ask the state to stay solvent for the next 30 years.
It's best to take the cash and split it up on 4 or 5 financial institutions and then set up a family office which is going to manage the money (and the the rest of your affairs) according to your needs.
My body is ready.
one of the tickets that my dad called me for since I'm the lucky one in the family.
It's one in 10000 luck though, not one in ~292 Million luck.
Just keeping an eye on this thing while sorting through job applications
>posting your numbers on biz
>not realizing some splerg is going to buy all these numbers just to fuck with you on the off chance you win
best advice is to play a lottery pool
if 300 players are in a pool that won the jackpot, then each person receive 5 million (before tax and other deductions), the chance of winning is increased 300 times, from 292 million to less than 1 million
>Implying I don't have a half dozen more sets of numbers I gave my dad.
>Implying this set isn't just a bunch of references to things I read/play,
I honestly don't really care at this point.
With five million you might not even considered rich. http://www.cnbc.com/2014/04/02/wealthy-begins-at-17-million-report.html
I'm talking about liquid. Rich enough to have your own meme. Rich enough not to waste time. A billion dollars, buddy. A player. Or nothing.
You get the 1.5 billion, yeah, but you still have to pay taxes on it. A basic compound interest calculation at a growth of 7% for 29 years at a principal of 500 million, a conservative estimate for the after tax cash prize shows that you'll end up with 3.3 billion instead of just 1.5 billion.
>buying a lotto ticket
You lost 50% of its value when you buy it. Look up the lotto math. You need to make 500 million to break even otherwise you're fucked in taxes and other regulatory bullshit.
>All those people saying they were 1 number off
Yeah the lottery numbers aren't chosen in a sequential way.
Every single number has the same probability of being chosen because the method they use to draw them
It's an air chamber with floating ping pong balls. The fact that you had a 9 on your card but it turned out to be 8 is totally irrelevant because that 9 might have been nowhere near the vacuum tube opening. It's just an illusion that you were "1 away"
The fact that they use numbers is brilliant. I doubt the lottery would be this popular if they used shapes.
All I needed was just 4 more correct balls and I would have gotten the jackpot!