Welcome Guest
Log In | Register )
You last visited December 9, 2016, 11:56 pm
All times shown are
Eastern Time (GMT-5:00)

Buy every ticket?

Topic closed. 29 replies. Last post 11 years ago by anonymous77.

Page 2 of 2
PrintE-mailLink

United States
Member #16612
June 2, 2005
3493 Posts
Offline
Posted: October 17, 2005, 1:07 pm - IP Logged

If my dad and I were living in Oregon or Arizona right now, my dad would remind me to buy just one ticket [$1]. Besides RJOh, it only takes one ticket to win the largest jackpot in PB history. If no one wins the PB jackpot this Wednesday, then the North American jackpot record will shatter.

    bellyache's avatar - 64x64a9wg

    United States
    Member #12618
    March 18, 2005
    2060 Posts
    Offline
    Posted: October 17, 2005, 1:14 pm - IP Logged

    I agree it only takes one ticket. That is why I usually only buy a couple of tickets. That, and I need to stay within a budget when playing the lottery. =)

    Dance like no one is watching.

      Avatar
      Greenwich, CT
      United States
      Member #4793
      May 24, 2004
      1822 Posts
      Offline
      Posted: October 17, 2005, 1:18 pm - IP Logged

      RJOh,

      Great chart!

      Don't forget the 142,116,660 ways to match 0+0!

        Bradly_60's avatar - disney37
        Atlantic Mine, Michigan
        United States
        Member #416
        June 23, 2002
        1614 Posts
        Offline
        Posted: October 17, 2005, 1:28 pm - IP Logged

        It is an interesting chart.  If you look at the breakdown if you bought all possible combonations you would end up winning $29,292,770 not including the jackpot.  So just don't count on the jackpot as a large sum of money.  Really if the cash option is $140,000,000 you could break even if you won it by yourself.

        Brad

          Avatar
          Herndon, VA
          United States
          Member #22340
          September 23, 2005
          22 Posts
          Offline
          Posted: October 17, 2005, 5:58 pm - IP Logged

          Thank you all for the interesting feedback.  It would be nice to have the money to get every ticket, but I surely don't, and if I did I wouldn't buy every ticket because that wouldn't be fair to the other players.  Time to get back to work on the number crunching in the ongoing search for the formula to predict chaos.

            RJOh's avatar - chipmunk
            mid-Ohio
            United States
            Member #9
            March 24, 2001
            19831 Posts
            Online
            Posted: October 18, 2005, 12:01 pm - IP Logged

            Thank you all for the interesting feedback.  It would be nice to have the money to get every ticket, but I surely don't, and if I did I wouldn't buy every ticket because that wouldn't be fair to the other players.  Time to get back to work on the number crunching in the ongoing search for the formula to predict chaos.

            If I had $146.2M, I could find better things than lottery tickets to spend it won. With the numbers of tickets being sold there is a good chance the cash value of $165M will be shared with other winners.  I might use a week interest on such an amount to buy 1500 tickets.

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

              Avatar
              Roslindale, MA
              United States
              Member #5377
              July 1, 2004
              135 Posts
              Offline
              Posted: October 19, 2005, 7:57 am - IP Logged

              How about this scenario: what if someone decided to go for it, and managed to get every combo covered EXCEPT ONE, and that one uncovered combo in 146 million came out?

              Puke 

                Avatar
                Louisville, KY
                United States
                Member #15734
                May 20, 2005
                203 Posts
                Offline
                Posted: October 19, 2005, 10:43 am - IP Logged

                They would still hit for the $29+ million, but at that point, their liability cap and P-M would kick in and lower EVERYONE'S prize to no more than about half of what the normal prize would be. So, I don't see any advantage to do it at all.

                  Avatar
                  Morrison, IL
                  United States
                  Member #4657
                  May 13, 2004
                  1884 Posts
                  Offline
                  Posted: October 19, 2005, 2:45 pm - IP Logged

                    The liability cap would not kick in, because the winnings would be practically perfectly statistical for the amount of tickets bought.

                    Bradly_60's avatar - disney37
                    Atlantic Mine, Michigan
                    United States
                    Member #416
                    June 23, 2002
                    1614 Posts
                    Offline
                    Posted: October 19, 2005, 5:35 pm - IP Logged

                    Yes I agree with Ryanm.  The liabilty cap would not kick in.  The liability cap is there in case number like 1-2-3-4-5 MB 6.  They would not become paramutual if you bought all the tickets because that is exactly what they expect to payout.  If you buy 146 million tickets, the lottery expects to pay out 29 million.

                    Brad

                      RJOh's avatar - chipmunk
                      mid-Ohio
                      United States
                      Member #9
                      March 24, 2001
                      19831 Posts
                      Online
                      Posted: October 20, 2005, 12:59 pm - IP Logged

                      The winning combination had never matched three in the previous 316 drawings.  I wonder how many combinations were in that group, such a parameter might be more realistic than covering all the combinations.

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

                        Todd's avatar - Cylon 2.gif
                        Chief Bottle Washer
                        New Jersey
                        United States
                        Member #1
                        May 31, 2000
                        23275 Posts
                        Online
                        Posted: October 20, 2005, 1:15 pm - IP Logged

                        The winning combination (7-21-43-44-49 +29) matched three on 3 different dates:

                          8/22/1998    07 · 21 · 22 · 11 · 49    +19   
                          11/8/1997    07 · 17 · 21 · 40 · 49    +37   
                          2/23/1994    07 · 27 · 40 · 43 · 44    +04   

                        You can find this on USA Mega on the Powerball Search page.

                        Or were you talking about 1-2-3-4-5 +6?

                         

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

                         

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

                          RJOh's avatar - chipmunk
                          mid-Ohio
                          United States
                          Member #9
                          March 24, 2001
                          19831 Posts
                          Online
                          Posted: October 20, 2005, 1:28 pm - IP Logged

                          The 316 drawings I was referring to only included the drawings under the 5/53+1/42  and the newest format going back to 10/09/02.  You included all the PowerBall drawings going back to 04/22/92.  Good information to have available.

                          RJOh

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

                            sirbrad's avatar - Lottery-062.jpg
                            PA
                            United States
                            Member #22983
                            October 6, 2005
                            2226 Posts
                            Offline
                            Posted: October 20, 2005, 1:38 pm - IP Logged

                            Not to mention the possibility of multiple winners, which could lead to a huge loss as well.

                              anonymous77's avatar - moon
                              Seoul
                              Korea, South
                              Member #21859
                              September 16, 2005
                              346 Posts
                              Offline
                              Posted: October 21, 2005, 11:14 am - IP Logged

                              For just entertainment purpose, I happened to calculate roughly the imaginary
                              amount of profit or loss which might have been resulted IF someone
                              had purchased all possible combinations.

                              Jackpot              82M    1/2(1+1)
                              Match 5              15M    41/100(41+49))
                              2nd-9th            29M    (thanks to a member for the math!)
                              Total winnings            : 126M
                              Total cost of buying    : 146M
                              Total Loss                  : (-)20M (loss)

                              -This way, if anyone had played all possible combinations, s/he would have
                              lost 20M dollars.

                               

                              -What IF there had happened to be no OR winner?
                              There would have been 62M(=-20M+82M) dollar profits before taxes.

                              (might be an error due to my time constraint, but so what for fun...)