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POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOT

Topic closed. 567 replies. Last post 11 months ago by AbsolutelyFun.

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Posted: January 10, 2016, 6:07 am - IP Logged

ΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛV

 

WinkPB odds went from 1 in 175,223,510

to 1 in 292,201,338

or 66% higher which is why the jackpot has gone to Pluto.←Patriot

 

ΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛVΛΛV

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    Simpsonville
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    Posted: January 10, 2016, 6:09 am - IP Logged

    Going to California's website with where the winning tickets were sold I see one was from that Primm lotto store.  WTG, probably someone from lottery free (stupid) Nevada.

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      Posted: January 10, 2016, 6:17 am - IP Logged

      Going to California's website with where the winning tickets were sold I see one was from that Primm lotto store.  WTG, probably someone from lottery free (stupid) Nevada.

      how much did they win?

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        Posted: January 10, 2016, 6:22 am - IP Logged

        how much did they win?

        Says $779,264

          BFW577's avatar - scene sunoverlake.jpg
          CT
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          Posted: January 10, 2016, 6:22 am - IP Logged

          584 milllion dollars and you could have bought every possible 1 in 292 million combinations and made a serious profit.

           

          Surprised it didn't happen.

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            Simpsonville
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            Posted: January 10, 2016, 6:22 am - IP Logged

            how much did they win?

            Just over $979K with that awful para-mutuel payout law they have; plus no Powerplay or Megaplier offered.

              ThatScaryChick's avatar - x1MqPuM
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              Posted: January 10, 2016, 6:25 am - IP Logged

              584 milllion dollars and you could have bought every possible 1 in 292 million combinations and made a serious profit.

               

              Surprised it didn't happen.

              It doesn't happen because of a number of reasons. For one, that is a lot of money to spend and yeah you would get your money back but filling out the slips would be too much work and there would never be enough time to print out all those combinations. You only have a few days between each drawing to purchase tickets.

              "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

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                Posted: January 10, 2016, 6:29 am - IP Logged

                584 milllion dollars and you could have bought every possible 1 in 292 million combinations and made a serious profit.

                 

                Surprised it didn't happen.

                Assuming you have the money, how on earth do you buy every single combination and permutation?  I don't think you can order that from the 7-11 or any other place that sells Powerball tickets, right? 

                 

                I think it's funny to think that someone would fill out each of those papers where you color it in for your numbers for every combo and perm. That alone would take you forever. 

                 

                I'm thinking in theory yeah you're right but it's reality that counts.

                  BFW577's avatar - scene sunoverlake.jpg
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                  Posted: January 10, 2016, 6:35 am - IP Logged

                  Assuming you have the money, how on earth do you buy every single combination and permutation?  I don't think you can order that from the 7-11 or any other place that sells Powerball tickets, right? 

                   

                  I think it's funny to think that someone would fill out each of those papers where you color it in for your numbers for every combo and perm. That alone would take you forever. 

                   

                  I'm thinking in theory yeah you're right but it's reality that counts.

                  Its happened before. With today's technology it could happen.

                   

                  Group Invests $5 Million To Hedge Bets in Lottery

                  Published: February 25, 1992

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                  RICHMOND, Feb. 24— There is a dream common among regular lottery players: to wait until the jackpot reaches an astronomical sum and then to buy every possible number, guaranteeing a winner.

                  Sure, it would cost millions of dollars. But the payoff would be much richer.

                  In Virginia this month, one investment group came tantalizingly close to cornering the market on all possible combinations of six numbers from 1 to 44. State lottery officials say that the group bought tickets for 5 million of a possible 7 million combinations, at $1 each, in a lottery with a $27 million jackpot. Only a lack of time prevented the group from buying tickets for the remaining 2 million combinations.

                   

                  http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all

                    ThatScaryChick's avatar - x1MqPuM
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                    Posted: January 10, 2016, 6:38 am - IP Logged

                    Its happened before. With today's technology it could happen.

                     

                    Group Invests $5 Million To Hedge Bets in Lottery

                    Published: February 25, 1992

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                    RICHMOND, Feb. 24— There is a dream common among regular lottery players: to wait until the jackpot reaches an astronomical sum and then to buy every possible number, guaranteeing a winner.

                    Sure, it would cost millions of dollars. But the payoff would be much richer.

                    In Virginia this month, one investment group came tantalizingly close to cornering the market on all possible combinations of six numbers from 1 to 44. State lottery officials say that the group bought tickets for 5 million of a possible 7 million combinations, at $1 each, in a lottery with a $27 million jackpot. Only a lack of time prevented the group from buying tickets for the remaining 2 million combinations.

                     

                    http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all

                    Yes, but they didn't even have the time to print out the whole 7 million tickets. Powerball has 292.2 million possible combinations. That's a big difference.

                    "Only a lack of time prevented the group from buying tickets for the remaining 2 million combinations."

                    "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

                      sirbrad's avatar - Lottery-062.jpg
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                      Posted: January 10, 2016, 6:42 am - IP Logged

                      584 milllion dollars and you could have bought every possible 1 in 292 million combinations and made a serious profit.

                       

                      Surprised it didn't happen.

                      Anyone who has that kind of money would not spend that much on the lottery, they would be an idiot if they did. They would be rich already and not have to. Also hindsight is 20/20 how do they know there will not be multiple winners? If there was they would lose a lot of money. It is easy to say AFTER the drawing took place and there were no winners. I highly doubt anyone with that kind of money would blow it all on the PB hoping to be the sole winner as if you had that much money you would not need to. It would be very stupid to risk that kind of money. That is why you don't see billionaires doing it. Low income people are the people who play most. Also do you have any idea how long it would take to print out that many tickets for one person? A LOOOOONG time. Not to mention filling out all those tickets, you better have A LOT of elves working 24 hours a day between drawings and I doubt you would ever get them all played.

                      It would also look pretty silly at the store and you would need a bunch of boxes and a big truck to carry all those tickets, and angry people waiting in line being like WTF....I waited on an old lady playing a few hundred tickets and seemed like it took an eternity, imagine 292 million tickets. Not to mention how long it would take to look at 292 million tickets then. Are you REALLY that surprised it didn't happen??

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                        Posted: January 10, 2016, 6:49 am - IP Logged

                        That is a lot of money. But question, why do all the news outlets keep saying whoever wins will win a billion or so dollars when they're really not? I mean I could see if this was another country where lottery winnings aren't taxed, but here in the good ol US they take almost half. Does anyone know how much the approx take home really would be based on where the cash option is now?

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                          Posted: January 10, 2016, 6:51 am - IP Logged

                          Its happened before. With today's technology it could happen.

                           

                          Group Invests $5 Million To Hedge Bets in Lottery

                          Published: February 25, 1992

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                          RICHMOND, Feb. 24— There is a dream common among regular lottery players: to wait until the jackpot reaches an astronomical sum and then to buy every possible number, guaranteeing a winner.

                          Sure, it would cost millions of dollars. But the payoff would be much richer.

                          In Virginia this month, one investment group came tantalizingly close to cornering the market on all possible combinations of six numbers from 1 to 44. State lottery officials say that the group bought tickets for 5 million of a possible 7 million combinations, at $1 each, in a lottery with a $27 million jackpot. Only a lack of time prevented the group from buying tickets for the remaining 2 million combinations.

                           

                          http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all

                          The key phrase is "could happen" but it didn't as the odds worked against them although they definitely had a good chance.  I just wonder how the heck on earth do you fill out all those lottery entry forms.?  Then the clerk has to scan the lottery entry into the machine then issue you your ticket then repeat process over and over and over and over and over until time runs out. The first thing would be to play a game where they only do the drawing once a week so that gives you a solid week to fill out your lottery entries.  But then you would need a store that sells the particular lottery game's tickets 24 hours a day.  I recall buying Powerball tickets in Arizona and they only sold them only during certain hours of the day though things may have changed since then.  I guess you could fill out all those lottery entries using a machine but I thought that is not allowed under lottery rules?  I thought that was illegal but I could be wrong.  Assuming you could fill out the lottery entries using a machine then yeah I think you could fill out all of the millions of entries. By hand, I don't see that happening but then again if you have enough people and a week then maybe. Let's not forget having the millions of dollars to play in the first place.

                            sirbrad's avatar - Lottery-062.jpg
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                            Posted: January 10, 2016, 6:55 am - IP Logged

                            That is a lot of money. But question, why do all the news outlets keep saying whoever wins will win a billion or so dollars when they're really not? I mean I could see if this was another country where lottery winnings aren't taxed, but here in the good ol US they take almost half. Does anyone know how much the approx take home really would be based on where the cash option is now?

                            It is almost a billion for the annuity after taxes. Every state has different taxes and some states don't tax the lottery such as mine which is PA and $975,000,002 AFTER taxes. They advertise the amount before taxes because that is the amount they pay before taxes come in and take their cut.

                              sirbrad's avatar - Lottery-062.jpg
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                              Posted: January 10, 2016, 7:00 am - IP Logged

                              The key phrase is "could happen" but it didn't as the odds worked against them although they definitely had a good chance.  I just wonder how the heck on earth do you fill out all those lottery entry forms.?  Then the clerk has to scan the lottery entry into the machine then issue you your ticket then repeat process over and over and over and over and over until time runs out. The first thing would be to play a game where they only do the drawing once a week so that gives you a solid week to fill out your lottery entries.  But then you would need a store that sells the particular lottery game's tickets 24 hours a day.  I recall buying Powerball tickets in Arizona and they only sold them only during certain hours of the day though things may have changed since then.  I guess you could fill out all those lottery entries using a machine but I thought that is not allowed under lottery rules?  I thought that was illegal but I could be wrong.  Assuming you could fill out the lottery entries using a machine then yeah I think you could fill out all of the millions of entries. By hand, I don't see that happening but then again if you have enough people and a week then maybe. Let's not forget having the millions of dollars to play in the first place.

                              Yeah, and a lot of times the machine will not take the slip and spits it back out. Sometimes one slip can take 5 minutes. Can you imagine one clerk doing that all day with millions of bet slips? What about when the store closes, you would have to come back every day all day and you probably still would not make it. The thought of doing it is ludicrous on so many levels lol. Imagine your eyes after checking 292 million tickets lol. You would be seeing numbers in your head for months.

                                 
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