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$HALF-BILLION! Powerball raised again on monster sales

Topic closed. 252 replies. Last post 2 years ago by Marilyn222.

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RJOh's avatar - chipmunk
mid-Ohio
United States
Member #9
March 24, 2001
19831 Posts
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Posted: February 12, 2015, 1:00 am - IP Logged

A lot of things that anything can happen, if they give me a chance to win,  absolutely share the wealth to the people who really needs help  there is  no question.

Who are they?  If you brought a ticket you had the same chance of winning as any other ticket buyer.

 * you don't need to buy more tickets, just buy a winning ticket * 
   
             Evil Looking       

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    United States
    Member #122691
    February 6, 2012
    330 Posts
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    Posted: February 12, 2015, 1:06 am - IP Logged

    Someone just become the King or Queen of Puerto Rico tonight. LOL

      joshuacloak's avatar - Money Swim-uncle-scrooge-mcduck-35997717-677-518.jpg

      United States
      Member #32537
      February 12, 2006
      698 Posts
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      Posted: February 12, 2015, 1:07 am - IP Logged

      Well, it was fun while it lasted.  I enjoyed playing "what if" and looking into private jet cards and new houses but, honestly, I would be just as happy to win "only" enough to retire early and maintain my current middle class lifestyle.

      Congratulations to the winners both large and small!

      That's the spirit lottolucy! I always buy a powerball and mm ticket for ever draw my self!

      Even the starter jackpots offer you all the handful of millions in cash you ever need to invest towards stocks of like coca cola  & nestle to be set for life....

      You never have to even touch the principal amount, as you get enough in dividends each year to live in a upper class lifestyle if you was smart with it!

      It would be based off the same game plan am doing for my normal life atm, it's just a middle class lifestyle retirement plan

      While any jackpot win would turn it  into 0.01% retirement plan LOL

      Higher jackpots are just like you said, for buying items like a private jet card and a insane nice house, etc.

      No bees, no honey.

        LottoMetro's avatar - Lottery-024.jpg
        Happyland
        United States
        Member #146344
        September 1, 2013
        1129 Posts
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        Posted: February 12, 2015, 7:35 am - IP Logged

        My estimate is that the cash value will be $381.1 million, which would make this the third-largest cash value in US history.  (And the 2nd-largest Powerball cash value ever.)

        We'll have to see what the official total is later, but that's my calculation.

        Cash is $381,138,450.16 Wink

        If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
        If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

        2016: -48.28% (13 tickets) ||
        P&L % = Total Win($)/Total Wager($) - 1

          LottoMetro's avatar - Lottery-024.jpg
          Happyland
          United States
          Member #146344
          September 1, 2013
          1129 Posts
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          Posted: February 12, 2015, 7:43 am - IP Logged

          If you buy 1 line, you have a 99.9999994% chance of losing that draw. If you buy 104 lines, you have a 99.9999406% chance of losing that draw. So by playing 103 more lines, you have increased your chances by 0.00587999999%.

          Like I said, the difference isn't that big.

          I'd rather have a bad chance to win in 104 draws than having a slightly better, but still bad, chance of winning in 1 draw and zero chance of winning in 103 other draws.

          You're focusing on the jackpot, but I forgot to mention that the math is the same for lower prizes too. You are more likely to walk away with more prizes. Don't be fooled by the idea that more draws gives you more chances. If the lottery drew 104 sets of numbers for a draw and you bought 1 ticket, it would be the same as you buying 104 tickets and they drawing 1 set of numbers. But 104 separate draws is not the same as 1, due to independence. In fact, you can guarantee some winnings by playing multiple tickets in one draw, but you cannot guarantee anything by playing a single ticket in many draws. And you have virtually equal chance of getting multiple prizes as you would playing multiple draws. 1 ticket may win 104 draws, but 104 tickets could win in 1 draw too...however unlikely both!

          Regardless, playing more draws is probably more fun.

          If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
          If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

          2016: -48.28% (13 tickets) ||
          P&L % = Total Win($)/Total Wager($) - 1

            Technut's avatar - moon
            3rd Rock from Sun
            United States
            Member #159103
            September 13, 2014
            151 Posts
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            Posted: February 12, 2015, 9:18 am - IP Logged

            Yep ronjonson is the winner of powerball price is right, congrats to him.

            Yesterday is History, Tomorrow is a Mystery, Today is a gift that's why it's called the PRESENT! (c8

              Marilyn222's avatar - thumb 350-286546.jpg
              Denver
              United States
              Member #117684
              October 12, 2011
              552 Posts
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              Posted: February 12, 2015, 11:03 am - IP Logged

              I just woke up and checked my numbers I just won quite a bit not the big one hehehehe...

              White Bounce

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                NY
                United States
                Member #23835
                October 16, 2005
                3475 Posts
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                Posted: February 12, 2015, 12:32 pm - IP Logged

                Do you really think 1 or 104 tickets makes that big of a difference when there are 175,000,000 possible numbers? What you're saying would make sense in a raffle, but not the lottery where there is such a high number of possibilities.

                Whether it's 1 line for each draw of the year or 104 lines for one draw, your chances of winning are pretty much the same. If you have $416 you want to use for research, go buy 104 lines for tonight, and then a single line ticket for tonight and for the following 103 draws. In a year, calculate your numbers and report back. And be aware, though almost literally impossible, only the 1 line ticket has the potential to win 104 jackpots or 104 second place prizes.

                "only the 1 line ticket has the potential to win 104 jackpots or 104 second place prizes."

                People always say there's no such thing as a free lunch, and that's the trade off for increasing your chances of winning a jackpot (or any other prize) by playing all of your tickets for a single drawing. Of course, with odds of 1 in 175 million and 1 in 5 million, buying 104 tickets for 104 different drawings gives you only an infinitesimally small chance of winning  one big prize, let alone 2 or more.

                What is a free lunch is the option of getting the same chance at $564 million for $2 as other people get at $40 million. I don't imagine very many people would have the discipline to not buy any tickets in the other 103 drawings during the year, and I really don't see many people risking their $208 budget on a single drawing, but there's plenty of middle ground between playing just one or all 104 drawings.

                In a typical year there are 10 to 12 winners, so there are typically 10 to 12 periods where the jackpot is less than $100 million for at least 6 drawings. Last year it was 64 drawings, with an average jackpot of about $60 million. That left 40 drawings with average jackpots of about $160 million. The closest you can get to making logical bets on the lottery is by spending your money on the chances that offer bigger jackpots.

                While that strategy would make it impossible to win multiple jackpots, it doesn't eliminate your chances of winning multiple prizes of lesser amounts. Playing 104 unique combinations in a single drawing could theoretically also win 34 2nd place prizes, 2 3rd place prizes and 68 4th place prizes, totaling $34,026,800. That's more than the cash value of the roughly 20 to 24 $40 and $50 million jackpots you'll be betting on by playing every drawing.

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                  New Member
                  Livermore, CA
                  United States
                  Member #152910
                  March 1, 2014
                  18 Posts
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                  Posted: February 12, 2015, 12:33 pm - IP Logged

                  @Thrifty: Thank you. Played the numbers in you post and won $4. Had another play with the same PB #19 and won another $4. And I won a $1 playing Super Lotto (CA).

                    RedStang's avatar - tallman zps6gf4inoc.jpg
                    NY
                    United States
                    Member #121961
                    January 21, 2012
                    3157 Posts
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                    Posted: February 12, 2015, 2:14 pm - IP Logged

                    Someone just become the King or Queen of Puerto Rico tonight. LOL

                    That's a lot of Pernil.

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                      United States
                      Member #89330
                      April 5, 2010
                      477 Posts
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                      Posted: February 12, 2015, 2:21 pm - IP Logged

                      Bought two tickets .... did not win.  There goes my beach cottage plan.  Congrats to those who did win any $$$ on the PowerBall.  Maybe next time...

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                        United States
                        Member #89330
                        April 5, 2010
                        477 Posts
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                        Posted: February 12, 2015, 2:22 pm - IP Logged

                        I just woke up and checked my numbers I just won quite a bit not the big one hehehehe...

                        Congratulations!!!  So very happy for you! 

                          Marilyn222's avatar - thumb 350-286546.jpg
                          Denver
                          United States
                          Member #117684
                          October 12, 2011
                          552 Posts
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                          Posted: February 12, 2015, 6:12 pm - IP Logged

                          Congratulations!!!  So very happy for you! 

                          Thank youSmile

                          White Bounce

                             
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