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Powerball ?
Old 01-03-2018, 08:48 PM   #1
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Powerball ?

Anyone play? I was tempted, at 480million the odds started to evade my wisdom.


Then I started thinking, it's not like it won't ever NOT get back to 500, even if someone wins, the Powerball WILL go back up to 500million eventually.

This is at least the 3rd or 4th time I can recall it being that high and I don't even buy tickets.

ON a side note I had a friend, professor and aviator, tried his luck on a hot lotto and took home 1million. He put a new engine in his Piper and paid off his note.
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Old 01-03-2018, 09:05 PM   #2
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I play frequently. Because I don't play all the time and only play for more than a couple bucks when it gets high, it's a pretty minor gambling activity. Generally though, gambling is not in the budget so as I tighten up in retirement, this will go right before cable if discretionary spending cuts are needed.
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Old 01-03-2018, 09:13 PM   #3
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Knowing full well that it's a voluntary tax, I play when the Jackpots are high. My only motivation to win is to back a few local businesses, help out a few needy people that I know, even more, and to donate to say the Wounded Warriors Project. I really don't need the money.
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Old 01-03-2018, 11:54 PM   #4
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I have never played it. To me it ia just throwing away money. And we read some much about how the winners' lives have been ruined. Just a lot if misery.
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Old 01-04-2018, 06:11 AM   #5
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$2 is a small price to pay for a couple of days dreaming about how it would or wouldn't change your life.

I bought one recently, saying as I made the purchase "I don't need to win the whole thing just enough to buy a bus ticket to Florida".
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Old 01-04-2018, 06:22 AM   #6
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$416/year gives me a ticket for the powerball and megamillions on every drawing. I've thrown away $400 on things that we not as much fun as daydreaming about immediately being able to say "take this job and shove it!"....
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Old 01-04-2018, 06:22 AM   #7
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I think winning a huge jackpot would likely bring far more problems than rewards, changing your life in negative ways you can't envision. However it is fun to dream.
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Old 01-04-2018, 06:23 AM   #8
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The lottery is sooooo yesterday. I am using my powerball money to invest in bitcoin. Apparently bitcoin has "unlimited" potential. On second thought, maybe we can talk the States into paying lottery winnings in bitcoin. There, that solved the problem.
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Old 01-04-2018, 06:31 AM   #9
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Originally Posted by REWahoo View Post
I think winning a huge jackpot would likely bring far more problems than rewards, changing your life in negative ways you can't envision. However it is fun to dream.
OK this has me laughing. Having too much money is a problem; just ask anyone with a senior heading off to college. However, it beets the alternative.
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Old 01-04-2018, 06:31 AM   #10
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I wagered $20 last week. Don't play often, though. I wouldn't mind finding out how many problems $500M brings.
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Old 01-04-2018, 07:50 AM   #11
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Anyone play?
Nope.

I bought a $1 lottery ticket once. Didn't win. Didn't seem like fun to me.
So I haven't purchased another since.
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Old 01-04-2018, 07:55 AM   #12
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I try to remember to buy a ticket when it gets this high. One ticket is best return on investment.
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Old 01-04-2018, 08:27 AM   #13
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I try to remember to buy a ticket when it gets this high. One ticket is best return on investment.
That's funny!
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Old 01-04-2018, 08:32 AM   #14
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I try to remember to buy a ticket when it gets this high. One ticket is best return on investment.


I do the same. Since I understand the odds of winning, I think of it as spending $2 to daydream and do mental math for a couple of days.
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Old 01-04-2018, 08:35 AM   #15
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Originally Posted by Philliefan33 View Post
I do the same. Since I understand the odds of winning, I think of it as spending $2 to daydream and do mental math for a couple of days.
I use the lottery prize to pass the time while driving long distances (or to the MIL). Over the years, I have planned the charitable donations, the gift giving plans, the additional spending . . . and I still have about 50% left over!
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Old 01-04-2018, 08:55 AM   #16
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In case anyone cares, they have changed the powerball formula to make higher "jackpots" more likely, and to reduce the chances that you will actually win one:

https://www.washingtonpost.com/news/...ch-except-you/

More dreaming, less winning.
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Old 01-04-2018, 08:56 AM   #17
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I don't get why people don't play until it's several hundred million dollars in a jackpot. Is 40 million not enough to change your life?
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Old 01-04-2018, 08:58 AM   #18
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I think winning a huge jackpot would likely bring far more problems than rewards, changing your life in negative ways you can't envision. However it is fun to dream.
If you are already FIRED then I agree winning could be a net negative. However, for someone like me who makes less than $50K/yr doing hard manual labor and is 20-ish years from a possible FIRE, it is worth $2 to dream of never having to work again. If i'm stopping for gas anyway then i'll buy 1 ticket per drawing. I don't fill up enough to buy a ticket for every drawing. I won't buy one for the next drawing but if no one wins then i'll buy one for the next drawing after that since i'll have to get gas anyway.
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Old 01-04-2018, 09:00 AM   #19
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I don't get why people don't play until it's several hundred million dollars in a jackpot. Is 40 million not enough to change your life?
has to do with it being a "fair game" or not; I played last night (didn't win)
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Old 01-04-2018, 09:01 AM   #20
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I don't get why people don't play until it's several hundred million dollars in a jackpot. Is 40 million not enough to change your life?
The cash option would be $25M. After taxes, maybe $13M. Still more than enough to live a good life for decades.
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