>Powerball Jackpot: 830 million USD >Price per Ticket:

Thread replies: 7
Thread images: 1

Anonymous
2016-01-11 19:14:00 Post No. 1037098
[Report] Image search: [Google]

File: Major Payne.jpg (23KB, 360x360px) Image search: [Google]

Anonymous 2016-01-11 19:14:00 Post No. 1037098 [Report]

>Powerball Jackpot: 830 million USD
>Price per Ticket: 2 USD
>Odds of Winning: 1/292 million
>Odds to Payout Ratio: 584 million/830 million= Less than 1

I am well aware of the fact that taxes would make the odds to payout ratio greater than 1, making this a shitty investment, but should I watch the lottery to see if the post-tax payout eventually becomes greater than 584 million?

Anonymous 2016-01-12 05:51:32 Post No.1038136
[Report]

Anonymous 2016-01-12 05:51:32 Post No.1038136 [Report]

1. Would take years to fill out and buy every combination of tickets.
2. If someone else wins you'd lose half the money then you lost at least 200 mil

Anonymous 2016-01-12 06:18:44 Post No.1038150
[Report]

Anonymous 2016-01-12 06:18:44 Post No.1038150 [Report]

>>1038136
This, plus you don't have 584 million.

Anonymous 2016-01-12 06:24:34 Post No.1038154
[Report]

Anonymous 2016-01-12 06:24:34 Post No.1038154 [Report]

>>1037098
But it's 830 million AFTER taxes, so the payout ratio is less than 1.

Anonymous 2016-01-12 06:43:16 Post No.1038166
[Report]

Anonymous 2016-01-12 06:43:16 Post No.1038166 [Report]

>>1038154
no, 830mil for lump sum, then taxed. $1.4bil is for 29 year annuity

CNN Money ran the numbers on buying one ticket for each combo, it's actually better than you would think (tax deduction for all tickets, for one):

http://money.cnn.com/2016/01/11/news/powerball-jackpot-win-guarantee/

Anonymous 2016-01-12 07:06:39 Post No.1038181
[Report]

Anonymous 2016-01-12 07:06:39 Post No.1038181 [Report]

>>1037098
You are failing to mention that you have to buy a ticket to have the chance to win.

Thus odds to win are 1:1

Anonymous 2016-01-12 07:31:31 Post No.1038217
[Report]

Anonymous 2016-01-12 07:31:31 Post No.1038217 [Report]

>>1037098
in my state, each ticket i bought tonight was ten cents EV. first time in history it's been plus ev to play.

I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible. Read more on this topic here - https://archived.moe/talk/thread/1694/

I'm aware that Imgur.com will stop allowing adult images since 15th of May. I'm taking actions to backup as much data as possible.
Read more on this topic here - https://archived.moe/talk/thread/1694/