A friend posted on facebook that it might be worthwhile to buy all possible number combinations. The math still isn't even close.
A jackpot of $1.3B has an immediate payout of $806M, I've read. Take out 40-50% for taxes, depending on your state, and you're under $500M, maybe close to $400M. The cost of the 292M+ tickets is $584.4M. So you've already lost close to $100M or more.
Good point. Yeah, I forgot to consider this.Are you forgetting that gambling losses can be deducted from winnings?
Thus you get a payout of $806M and you can deduct about $600M from the losing tickets, thus you only pay tax on $206M.
It is actually a mathematical win right now if nobody else picks the same number.
edit: You would need to itemize instead of taking the standard deduction :-D
There was no winner.
Good grief, it is up to 1.3 billion now.
Really? My odds of living to 70 are way over 50/50, and you want to compare that somehow to a lottery?You can look at odds from other angles. There are good odds that you will not even live until age 70 but we all save and plan for much longer life.
How much does OMY really increase the odds you will have a very rewarding birthday at age 90. Probably less than that stride toward San Francisco.
Is there any mathematical justification for pooling money to buy lottery tickets?
I can see that the chance of having a winning number among the group is increased, but it also guarantees that those winnings have to be shared.
I suppose it provides an improved likelihood of being able to say "I won", but I can't see there being any increase in the "return" on the outlay.
Am I wrong about that?
Is there any mathematical justification for pooling money to buy lottery tickets?
I can see that the chance of having a winning number among the group is increased, but it also guarantees that those winnings have to be shared.
I suppose it provides an improved likelihood of being able to say "I won", but I can't see there being any increase in the "return" on the outlay.
Am I wrong about that?
I hadn't realized the millions? of dinosaurs killed by the asteroid that hit near the Yucatan peninsula were in the space program but what do I know...I am not sure about that killed by an asteroid strike figure.
You would need to be an astronaut to be killed by an asteroid. I do not believe any of our space ships or space stations have ever been hit nor an astronaut killed.
I guess it could happen, but the odds have to be much larger than 1 in 700,000.
I hadn't realized the millions? of dinosaurs killed by the asteroid that hit near the Yucatan peninsula were in the space program but what do I know...
Yep, one of these days ReWahoo's asteroid is going to snuff us all out, long before we get our chance at the jackpot. How depressing! I am going to pour meself a stiff shot of gin tonight after dinner.I am not sure about that killed by an asteroid strike figure.
Edit: I guess it comes to 1 in 700,000 because every 700,000 years or so everyone is killed.