Mathematical Cost of Playing the Game

Reply #8

keystonechas — Sat, 15 May 2004 20:53:50 GMT

Quote: Originally posted by whodeani on May 15, 2004Is solemntruth getting some hidden discount that none of us know anything about?????????? I don't think lotteries give discounts for buying in bulk.Perhaps a blue light special?Chas

Reply #7

RJOh — Sat, 15 May 2004 18:55:09 GMT

Quote: Originally posted by solemntruth on May 15, 2004First TN Powerball Group of Shelby County isn't a nonprofit group.That is obvious when you charge $50 to buy 15 PowerBall tickets with powerplay and say it's a real bargain for people on a fixed income. Makes one wonder where's the truth in solemntruth. If you are selling a service, just say so up front.RJOh

Reply #6

BobP — Sat, 15 May 2004 17:10:12 GMT

You might want to check with your state lottery to see if your club is legal.More and more states are now making it illegal to sell a lottery ticket for more then its face value and apply anti-scalping laws to violators.It doesn't matter how you breakdown the shares and expenses, if the total shares in the ticket add up to more then the cost of the ticket you may have a problem. Sometimes you don't have a problem until you win and try to collect. BobP

Reply #5

solemntruth — Sat, 15 May 2004 16:26:45 GMT

Wedding coordinators earn a fee for organizing weddings. Persons could do it themselves and save money. Yet, to do it professionally and right cost money. First TN Powerball Group of Shelby County isn't a nonprofit group. It requires time energy and money organizing teams across the USA to join Lottery Pools. Whoever, organizes the group has to safeguard the investments of each team member. Otherwise, they may not fulfill their payoff obligations. My job as the group organizer, is to provide all... [ More ]

Reply #4

solemntruth — Sat, 15 May 2004 16:02:48 GMT

RJoh Lotteries don't give discounts for buying Powerball Tickets. We pay the full price. Yet, our members receive the benefits of playing $360 worth of Powerball Tickets for one low price of $50, since we buy in bulks of 36 Muliplays per 5 tickets. Sorry, my calculations of 14 cents were for $1 tickets. Actually, it's averages out to 28 cents per $2 Powerball Ticket. I will post the corrections on our website. The bottomline is that it's much more affordable to join a team.

Reply #3

RJOh — Sat, 15 May 2004 15:31:25 GMT

solemntruth math works like this.1. Solemntruth form lottery pool team of 12 members.2. Each team member pay him $50 to buy tickets3. He use their $600 (12 x $50) to buy $360 worth of tickets4. Team members share *$360 worth of tickets, solemntruth makes $240. * team member cost for $360 worth of chances $50 = saving of $310 ea. **better math - 12 friends who know each other put $50 in a pool, buy $600 worth of tickets and have even better chance to win something.** team member cost for $600

Reply #2

whodeani — Sat, 15 May 2004 14:30:07 GMT

Is solemntruth getting some hidden discount that none of us know anything about?????????? I don't think lotteries give discounts for buying in bulk.

Reply #1

Colin F — Sat, 15 May 2004 12:54:02 GMT

So ... how long were you in the desert?Colin

Mathematical Cost of Playing the Game

solemntruth — Sat, 15 May 2004 08:11:40 GMT

The most important mathematics is figuring out how much it really cost to play. If you cut your cost, then you can play more combinations longer. Figure paying 14 cents instead of $2 per ticket. For example try playing 5 Powerball Tickets with Power Play for 36 weeks. It would cost a total of $360 ($10 X 36 = $360). Turn around and play those same tickets at $50. You save $310. It averages out to paying 14 cents per ticket. A person on a fixed income, like myself, could splurge playing more ti... [ More ]