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If you wanted to bet $300 in MM, what would be the smartest method?

Topic closed. 10 replies. Last post 11 years ago by Just6ntlc.

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Springfield, MA
United States
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June 15, 2006
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Posted: June 21, 2006, 12:26 am - IP Logged

If you wanted to bet $300 in Mega Millions, which of these two would be the smartest method?

a)  Bet it all in one drawing

b)  Bet $10 per drawing

 

and a quick question.  Could someone explain to me why the odds of getting 0+1 is 75?  Shouldn't it be 46?    

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    Sunny California
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    May 31, 2006
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    Posted: June 21, 2006, 12:59 am - IP Logged

    I would definitely say bet $10.00 per drawing. I've known too many people who bet more then $300 at a time and always were disappointed with a big let down.  Sulk Off I guess when you think you've got more tickets,there's bound to be a bigger winner in there but that's not necessarily so. I once sold a lady $1500 worth of  quick picks at the liquor store I worked at and she only won a few 3 spots! Save yourself the big let down and stretch it out in smaller increments. That way the disappointments (I hope you win, of course!), but in case you don't it's better to be left with a little flutter in your stomach than a $300 thud!!

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      Greenwich, CT
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      May 24, 2004
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      Posted: June 21, 2006, 10:19 am - IP Logged

      If you wanted to bet $300 in Mega Millions, which of these two would be the smartest method?

      a)  Bet it all in one drawing

      b)  Bet $10 per drawing

       

      and a quick question.  Could someone explain to me why the odds of getting 0+1 is 75?  Shouldn't it be 46?    

      Hi Leto,

      Welcome to Lotterypost.  Your name reminds me of Lido's Restaurant in Springfield...it's my grandparents favorite place to visit in the Pioneer Valley.

      To answer your second question:

      The odds of hitting the megaball are 1 in 46. 

      When you hit the megaball, you could also match 0,1,2,3,4 or 5 white balls.  Six different outcomes.  When you add up all the odds of 0+1, 1+1, 2+1, 3+1, 4+1 and 5+1, you will get odds of 1 in 46.  But each event by itself (e.g. 0+1) has less than a 1 in 46 chance of occurring.

        bellyache's avatar - 64x64a9wg

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        Posted: June 23, 2006, 5:46 pm - IP Logged

        I would definitely stick with $10 a draw compared to a one-time $300 draw.

        Dance like no one is watching.

          RJOh's avatar - chipmunk
          mid-Ohio
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          Posted: June 24, 2006, 10:51 am - IP Logged

           MATCH          GAME ODDS            WINNING COMBINATIONS
           5 / 5 +B          1 : 175711536        1
           5 / 5               1 : 3904701            45
           4 / 5 +B          1 : 689065              255
           4 / 5               1 : 15313                11475
           3 / 5 +B           1 : 13781                12750
           3 / 5               1 : 306                     573750
           2 / 5 +B           1 : 844                     208250
           1 / 5 +B          1 : 141                    1249500
           0 / 5 +B          1 : 75                      2349060

           overall    1 : 39.8 

          The possible combinations  of 5 of 56 numbers with 1 of 46 bonus numbers are 175711536.  To get the odds of any particular type of combination, the number of that type of winning combinations is divided by the possible combinations, thus 2349060:17511536 = 1:75.

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

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            NY
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            Posted: June 29, 2006, 3:04 am - IP Logged

            If you wanted to bet $300 in Mega Millions, which of these two would be the smartest method?

            a)  Bet it all in one drawing

            b)  Bet $10 per drawing

             

            and a quick question.  Could someone explain to me why the odds of getting 0+1 is 75?  Shouldn't it be 46?    

            The smartest method for betting $300 in the lottery is to bet that you'd lose most of the money, and just keep it instead of losing it. The best method of betting $300 doesn't have any simple answers. Betting all $300 on one draw gives you a better chance of hitting the jackpot than betting $10 30 times, but the latter offers a (very slim) possibility of winning 30 jackpots.  Betting $10 for 30 consecutive draws might mean an average advertised jackpot of about $75 million for the 30 draws, but betting all $300 on one draw might  offer a jackpot of 2 or 3 hundred million.

              LOTTOMIKE's avatar - Lottery-063.jpg
              Tennessee
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              October 15, 2004
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              Posted: June 29, 2006, 3:26 am - IP Logged

              i made this mistake myself.don't do it.i went powerball crazy when tennessee first got powerball in the summer of 2004.learned that a lot of money spent does not mean a lot of money earned.lol

                dvdiva's avatar - 8ball

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                Posted: July 7, 2006, 11:43 pm - IP Logged

                This is very easy.

                Just tell yourself you will spend $300 million on the first rollover after 300 million. So the next time MM breaks 300 million and is not won then you will spend $300. Since this won't happen you can keep the 300 for a long time.

                Maybe even put it in a cd. By the time it might happen it would have easily doubled in value so you will just spend the intrest on it.


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                  Posted: July 18, 2006, 11:48 am - IP Logged

                  I would use 10 Quick Picks at a time Leto, but only if MM reaches 300+ million.

                    Coin Toss's avatar - shape barbed.jpg
                    Zeta Reticuli Star System
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                    Posted: July 18, 2006, 12:04 pm - IP Logged

                    The $10 a drawing is the lesser of two evils here, but seeing "bet $300 in MM" and "smartest" still makes me chuckle.

                     Green laugh

                     (meaning bet $300 in MM, any lotto, or any 176,000,000 to one venture)


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                      Posted: July 19, 2006, 1:48 pm - IP Logged

                      Right now, it's going to take many rolls in a row to reach $300+ million again because sales are falling. MM has 4 straight jackpot winners at 50 million or less and 5 straight jackpot winners at 100 million or less. I think $10 in quick picks at a time is better.