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$700 MILLION: Powerball lottery jackpot raised just hours after initial estimate

Topic closed. 151 replies. Last post 11 months ago by sirbrad.

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Simpsonville
United States
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January 22, 2015
674 Posts
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Posted: January 7, 2016, 7:55 pm - IP Logged

The media frenzy will be fun to watch.  That is for sure!!!

I too enjoy that showing folks buying tickets; my favorite is Primm Lotto store in CA showing long lines of Las Vegans buying their tickets.

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    Germany
    Member #164603
    March 8, 2015
    612 Posts
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    Posted: January 7, 2016, 8:01 pm - IP Logged

    It's an Opinion Max, nothing more.Btw- Gates would disagree with you. 

    Of course he would, as would Buffet and Oprah and Ellison and all the people who say they will donate their money at some point close to their death. They typically put it into some kind of "charitable foundation" that they still have access to. Wink

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      Chief Bottle Washer
      New Jersey
      United States
      Member #1
      May 31, 2000
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      Posted: January 7, 2016, 8:10 pm - IP Logged

      So painful to hear the "lame stream media" talk about large Jackpots as they really have NO clue, every other word is incorrect.  PLEASE have experts like TODD on to explain this correctly.

      I couldn't agree more. Thumbs Up

       

      Check the State Lottery Report Card
      What grade did your lottery earn?

       

      Sign the Petition for True Lottery Drawings
      Help eliminate computerized drawings!

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        United States
        Member #142499
        May 13, 2013
        1183 Posts
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        Posted: January 7, 2016, 8:13 pm - IP Logged

        Frell you Max. Even Bill Gates w/ his Billions sees the light. Many " want" $700 million,  but no one person " needs".. that much to survive. Get a load of this : California contributes the Lion's share to " most" jackpots- but you hardly ever hear us bit.h...ng about losing to say Iowa. In a word : shut your pie hole.Smile

        People always ignore the fact that Gates isn't giving up his multi-million dollar compound and all the other billionaire toys and creature comforts the rest of us will never experience. He wants to go down as one of the greatest philanthropists and he will. He hasn't downsized his incredible lifestyle to do so. About 90% of what this country considers necessary to live and function in the way they've become accustomed is not required to live. It's just stuff that makes life more comfortable and productive, but not needed

        Billions in the world will never ever experience our normalcy, a life they would consider idyllic. So if what we have already isn't needed, just wanted, what's the difference between that and wanting more? What makes one want more obscene than the other? Especially if you aren't killing or scamming anyone to get it.

        What if I say giving one morally responsible person $800 million will do more good to mankind than splitting it up between 3 random people, when the odds are 2 of those 3 people will squander it on nonsense that wouldn't benefit anyone but themselves and when it's gone end up on welfare for the rest of us to pay for. There are different ways of thinking about wealth distribution and so far neither of the two most popular sides seem to work.

        Splitting wealth has as many drawbacks as keeping it to a chosen few. Since that's the case, I'd rather take it all than split it with another Marie Holmes or David Edwards. Absolutely selfish and yet more practical IMO.

        I might wake up early and go running.  I might also wake up and win the lottery.

        The odds are about the same.

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          New Jersey
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          September 4, 2005
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          Posted: January 7, 2016, 8:33 pm - IP Logged

          The probabilities for various numbers of winners at a $700M annuity jackpot:     The Texas lottery website indicates that the revenue expected on this drawing (at this level is $351,835,913.    (I doubt the accuracy of their prediction, especially the last 6 digits, but no matter...)

          This would amount to half that number in tickets sold.   If the ticket selection were totally random, and this proved to be the actual number of tickets sold, the Poisson distribution for the probability of various numbers of winners would be as follows:

          k, number of winnersp(m,k)
          053.47%
          133.48%
          210.48%
          32.19%
          40.34%
          50.04%

          The most probable outcome at this point is yet another rollover, although at this point it's more or less a 50/50 proposition.   (It is likely to be less than 50/50 after this is all said and done.

          The expectation value is 0.81, not bad for a lottery with impossibly, miserably, low odds.

          I have bought a ticket myself, the cost of which is covered by having a fantasy, however remote in actuality, of moving permanently to a country where Donald Trump's name is not mentioned, and one never has to worry about seeing him and his awful haircut on any kind of electronic scheme.

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            New Jersey
            United States
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            September 25, 2009
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            Posted: January 7, 2016, 8:33 pm - IP Logged

            01/07/16

            No lines at the 711 on Main St. in Marlton,  NJ today. Big Smile

            Guess most folks wait until last minute to buy those red hot tickets.Eek

            Jester LaughGood Luck LP PlayersJester Laugh

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              Lavender Rocket

              United States
              Member #124616
              March 16, 2012
              2642 Posts
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              Posted: January 7, 2016, 8:35 pm - IP Logged

              no lines in Barrington RI, Warren RI, Bristol RI, Middletown RI (only places I went today)

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                wisconsin
                United States
                Member #130754
                July 23, 2012
                198 Posts
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                Posted: January 7, 2016, 8:43 pm - IP Logged

                Just giving you guys a heads up. I have every intention on winning, so if you could cut out the middle man and send me your money. 

                 

                I would be most appreciative.

                 

                Thanks. Wink

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                  Alpharetta, GA
                  United States
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                  October 23, 2015
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                  Posted: January 7, 2016, 8:45 pm - IP Logged

                  I love the comments in this thread ! Lol

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                    New Member
                    Toronto
                    Canada
                    Member #170682
                    December 12, 2015
                    31 Posts
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                    Posted: January 7, 2016, 8:47 pm - IP Logged

                    The probabilities for various numbers of winners at a $700M annuity jackpot:     The Texas lottery website indicates that the revenue expected on this drawing (at this level is $351,835,913.    (I doubt the accuracy of their prediction, especially the last 6 digits, but no matter...)

                    This would amount to half that number in tickets sold.   If the ticket selection were totally random, and this proved to be the actual number of tickets sold, the Poisson distribution for the probability of various numbers of winners would be as follows:

                    k, number of winnersp(m,k)
                    053.47%
                    133.48%
                    210.48%
                    32.19%
                    40.34%
                    50.04%

                    The most probable outcome at this point is yet another rollover, although at this point it's more or less a 50/50 proposition.   (It is likely to be less than 50/50 after this is all said and done.

                    The expectation value is 0.81, not bad for a lottery with impossibly, miserably, low odds.

                    I have bought a ticket myself, the cost of which is covered by having a fantasy, however remote in actuality, of moving permanently to a country where Donald Trump's name is not mentioned, and one never has to worry about seeing him and his awful haircut on any kind of electronic scheme.

                    My college years are way behind me so my knowledge of Probability and Statistics is limited. 

                    Nevertheless thank you for these informative and insightful posts. I enjoy them very much.

                     

                    Thank you.

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                      Akron, Ohio
                      United States
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                      August 10, 2013
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                      Posted: January 7, 2016, 8:51 pm - IP Logged

                      You gonna buy Rolling Acres Mall? I think that's Stephen

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                        Akron, Ohio
                        United States
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                        August 10, 2013
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                        Posted: January 7, 2016, 8:55 pm - IP Logged

                        My guides in the heavens tells me one sole winner in the state of Arizona will win $1,000,300,000.00

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                          United States
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                          January 7, 2015
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                          Posted: January 7, 2016, 9:03 pm - IP Logged

                          It'll get to a billion by Saturday judging by the huge line at my small town store.  Smile  People are buying $20, 50, $100 worth of tickets.  This is crazy.  Everybody is talking about Powerball!

                          Yes, I can see that. It is mass insanity:

                          Mass insanity, mass insanity, mass insanity.
                          No new contracts.  There is now a mass insanity clause.
                          You say you don't believe in sanity clause?

                          (the line was borrowed (more or less), from an old Marx Brothers movie)

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                            United States
                            Member #142499
                            May 13, 2013
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                            Posted: January 7, 2016, 9:07 pm - IP Logged

                            I love the comments in this thread ! Lol

                            Hey CrazyJaney:

                            I see you live in my favorite burb. LOVE LOVE LOVE Alpharetta. Just so happens my dream home AND my back up dream home are in Alpharetta too so that's convenient. I'd been eyeballing this place in Roswell, but just don't like Roswell as much. Worked in Alpharetta for a while, and the only downside is actually getting to it. Pleasant Hill Rd has to be the least pleasant road ever made. I was stuck on it during that "snow" ah hem "storm" couple years ago.

                            Heard Avalon is finished so I might take a trip there this weekend. Maybe if I buy a ticket in my favorite city it'll bring me luck Dance

                            I might wake up early and go running.  I might also wake up and win the lottery.

                            The odds are about the same.

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                              KCMO
                              United States
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                              February 7, 2015
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                              Posted: January 7, 2016, 9:11 pm - IP Logged

                              I firmly think it will increase at least twice and I suspect it will get over 900million....!!!

                                 
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