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"Post-Game Review" - $1.58B MM Jackpot This Week
A single winner in Florida hit the $1.58B Mega Millions this week. The cash value (I saw on TV anyway) was about $783M. This begs the question: playing a regular $2 ticket, did a player have a positive return expectation (expected value of return $2 bet)? Answers: 1. Before income tax - yes, roughly $0.11 gain per $ bet (about +11% return) 2. After income tax - no, roughly $0.28 loss per $ bet if you assume a 35% tax rate on winnings. (about -28% return) First, I looked up the nu
Aug 12, 2023, 12:53 pm - Orange71 - Mathematics Forum