Welcome Guest
Log In | Register )
You last visited December 4, 2016, 1:02 am
All times shown are
Eastern Time (GMT-5:00)

A dollar and a dream true for PB and MM?

Topic closed. 109 replies. Last post 9 years ago by Perfect Timing.

Page 1 of 8
52
PrintE-mailLink
Avatar

United States
Member #54390
August 17, 2007
313 Posts
Offline
Posted: September 1, 2007, 4:43 pm - IP Logged

I'm just wondering if any winners ever won the big one on PB and MM with just a $1 dollar ticket.  In the news, all I hear are ones with $3 or $5 tickets.

 

Reason I'm asking is because I might reduce the amount I spend on lottery.  Everyone's telling me "One is all you need".

    Guru101's avatar - rw6jhh
    Indiana
    United States
    Member #48725
    January 7, 2007
    1953 Posts
    Offline
    Posted: September 1, 2007, 5:17 pm - IP Logged

    I'm just wondering if any winners ever won the big one on PB and MM with just a $1 dollar ticket.  In the news, all I hear are ones with $3 or $5 tickets.

     

    Reason I'm asking is because I might reduce the amount I spend on lottery.  Everyone's telling me "One is all you need".

    It's true that you only need 1 to win. Of course, the more tickets you buy, the better your chances of winning. If you play $1, your odds are 1 in 146,107,962. If you play $5, your odds are 1 in 29,221,592. Whether or not you should cut back is up to what you can afford. If you NEED to cut back, then you should.

    Gonna win.Big Smile

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
      Member #9
      March 24, 2001
      19817 Posts
      Offline
      Posted: September 1, 2007, 6:17 pm - IP Logged

      I'm just wondering if any winners ever won the big one on PB and MM with just a $1 dollar ticket.  In the news, all I hear are ones with $3 or $5 tickets.

       

      Reason I'm asking is because I might reduce the amount I spend on lottery.  Everyone's telling me "One is all you need".

      If it hasn't happened then you could be the first.  I assume everyone who's telling you "one is all you need" practice what they preach.

      When ever I'm buying lottery tickets, I'm alway getting advice from people I've never met about wasting money on extra lottery tickets.  Most of them are standing in line to pay for their six pack of beer, carton of cigarettes or carton of chewing tobacco so I know they know all about not wasting money.

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

        justxploring's avatar - villiarna
        Wandering Aimlessly
        United States
        Member #25360
        November 5, 2005
        4461 Posts
        Offline
        Posted: September 1, 2007, 6:23 pm - IP Logged

        It's true that you only need 1 to win. Of course, the more tickets you buy, the better your chances of winning. If you play $1, your odds are 1 in 146,107,962. If you play $5, your odds are 1 in 29,221,592. Whether or not you should cut back is up to what you can afford. If you NEED to cut back, then you should.

        I don't claim to be a mathmatician, but if every time you buy another ticket the odds are cut in half, that would mean I'd be guaranteed a win if I keep buying enough tickets.  If you buy $5 worth of tickets then you have 5 chances out of $146 million.  If your example were true, then I would have no problem winning the FL lottery which was over $40 million last week.  (although tonight's $6M would be just fine) 

        We've had this discussion many times on LP.  Almost everybody argues that I am looking at this all wrong, but I think that buying 10 tickets increases your odds by giving you a 10 in 146,107,962 million shot at winning, leaving 146,107,952 other combinations that could be drawn.  Call me lousy in math, but the way people keep describing how the odds keep splitting with every ticket purchase is painting a much more optimistic picture.  Yes, every PB ticket a person buys might be one more ticket to Paradise.  But there are always going to be another 146 million other possibilities even if someone is crazy enough to spend $107,952 on one game.

        However, I do believe that the more tickets a person buys, the better his chances are at winning.  It's just common sense.  People do win large jackpots with only one ticket.  I can't say for PB or MM, but it's not uncommon to read that someone bought a QP or 2 and won the state lottery.  Still, let's say you spent $20 and the 21st was the winner. The next person would win with only $1.  So saying "it only takes 1" is a true statement.

          Avatar

          United States
          Member #54390
          August 17, 2007
          313 Posts
          Offline
          Posted: September 1, 2007, 6:29 pm - IP Logged

          If it hasn't happened then you could be the first.  I assume everyone who's telling you "one is all you need" practice what they preach.

          When ever I'm buying lottery tickets, I'm alway getting advice from people I've never met about wasting money on extra lottery tickets.  Most of them are standing in line to pay for their six pack of beer, carton of cigarettes or carton of chewing tobacco so I know they know all about not wasting money.

          That is so true.  Tobacco and BEER=YUCK!


            United States
            Member #17555
            June 22, 2005
            5582 Posts
            Offline
            Posted: September 1, 2007, 6:30 pm - IP Logged

            I don't claim to be a mathmatician, but if every time you buy another ticket the odds are cut in half, that would mean I'd be guaranteed a win if I keep buying enough tickets.  If you buy $5 worth of tickets then you have 5 chances out of $146 million.  If your example were true, then I would have no problem winning the FL lottery which was over $40 million last week.  (although tonight's $6M would be just fine) 

            We've had this discussion many times on LP.  Almost everybody argues that I am looking at this all wrong, but I think that buying 10 tickets increases your odds by giving you a 10 in 146,107,962 million shot at winning, leaving 146,107,952 other combinations that could be drawn.  Call me lousy in math, but the way people keep describing how the odds keep splitting with every ticket purchase is painting a much more optimistic picture.  Yes, every PB ticket a person buys might be one more ticket to Paradise.  But there are always going to be another 146 million other possibilities even if someone is crazy enough to spend $107,952 on one game.

            However, I do believe that the more tickets a person buys, the better his chances are at winning.  It's just common sense.  People do win large jackpots with only one ticket.  I can't say for PB or MM, but it's not uncommon to read that someone bought a QP or 2 and won the state lottery.  Still, let's say you spent $20 and the 21st was the winner. The next person would win with only $1.  So saying "it only takes 1" is a true statement.

            WOW, you beat me to the punch.

            I agree, I never understood that way of thinking. I've also read other posts about this subject and I can't see how that is possible.

            If the odds are 1 in 10 and I buy one ticket, I now have a 1 in 9 chance of winning. Does some strange phenomenon occur when the odds are increased to millions?...LOL

            No math genius here either, but I guess common sense might have exceptions in math...lol

              Guru101's avatar - rw6jhh
              Indiana
              United States
              Member #48725
              January 7, 2007
              1953 Posts
              Offline
              Posted: September 1, 2007, 6:47 pm - IP Logged

              I don't claim to be a mathmatician, but if every time you buy another ticket the odds are cut in half, that would mean I'd be guaranteed a win if I keep buying enough tickets.  If you buy $5 worth of tickets then you have 5 chances out of $146 million.  If your example were true, then I would have no problem winning the FL lottery which was over $40 million last week.  (although tonight's $6M would be just fine) 

              We've had this discussion many times on LP.  Almost everybody argues that I am looking at this all wrong, but I think that buying 10 tickets increases your odds by giving you a 10 in 146,107,962 million shot at winning, leaving 146,107,952 other combinations that could be drawn.  Call me lousy in math, but the way people keep describing how the odds keep splitting with every ticket purchase is painting a much more optimistic picture.  Yes, every PB ticket a person buys might be one more ticket to Paradise.  But there are always going to be another 146 million other possibilities even if someone is crazy enough to spend $107,952 on one game.

              However, I do believe that the more tickets a person buys, the better his chances are at winning.  It's just common sense.  People do win large jackpots with only one ticket.  I can't say for PB or MM, but it's not uncommon to read that someone bought a QP or 2 and won the state lottery.  Still, let's say you spent $20 and the 21st was the winner. The next person would win with only $1.  So saying "it only takes 1" is a true statement.

              You're odds are not cut in half for every ticket you buy. It's fractions.

              5 in 146,107,962 is the same as 1 in 29,221,592.4

              100 in 146,107,962 is the same as 1 in 1,461,079.62

              1,000 in 146,107,962 is the same as 1 in 146,107.962

              10,000 in 146,107,962 is the same as 1 in 14,610.7962

              100,000 in 146,107,962 is the same as 1 in 1,461.07962

              You can call that painting a more optimistic picture if you want, but that's the way it is. Even if you spend $1,000,000, your odds are still 1 in 146.107962, which is still pretty small.
               

              Gonna win.Big Smile


                United States
                Member #17555
                June 22, 2005
                5582 Posts
                Offline
                Posted: September 1, 2007, 7:10 pm - IP Logged

                You're odds are not cut in half for every ticket you buy. It's fractions.

                5 in 146,107,962 is the same as 1 in 29,221,592.4

                100 in 146,107,962 is the same as 1 in 1,461,079.62

                1,000 in 146,107,962 is the same as 1 in 146,107.962

                10,000 in 146,107,962 is the same as 1 in 14,610.7962

                100,000 in 146,107,962 is the same as 1 in 1,461.07962

                You can call that painting a more optimistic picture if you want, but that's the way it is. Even if you spend $1,000,000, your odds are still 1 in 146.107962, which is still pretty small.
                 

                I understand that it's just math lingo, terminology, or mathematical semantics, but it's misleading. The huge number difference is what's misleading.

                For a layman to see the difference (or sudden change of odds) in numbers may lead them to scratch their heads, like I used to..lol

                Your last line in the quote above proves what I'm saying. A layman might think that if they bought a million QPs, they would have a 1 in 146 chance of hitting the JP. 

                  Guru101's avatar - rw6jhh
                  Indiana
                  United States
                  Member #48725
                  January 7, 2007
                  1953 Posts
                  Offline
                  Posted: September 1, 2007, 7:23 pm - IP Logged

                  I understand that it's just math lingo, terminology, or mathematical semantics, but it's misleading. The huge number difference is what's misleading.

                  For a layman to see the difference (or sudden change of odds) in numbers may lead them to scratch their heads, like I used to..lol

                  Your last line in the quote above proves what I'm saying. A layman might think that if they bought a million QPs, they would have a 1 in 146 chance of hitting the JP. 

                  I don't think it's misleading. It's just simple math. If someone doesn't want to use the simplified version of a fraction, then that's fine by me. Also, if someone buys 1,000,000 quick picks, then they WILL have a 1 in 146(146.107962 to be exact) chance of hitting the jackpot ASSUMING none of quick picks are repeats. But of course, even that is a pretty small chance.

                  Gonna win.Big Smile


                    United States
                    Member #17555
                    June 22, 2005
                    5582 Posts
                    Offline
                    Posted: September 1, 2007, 7:32 pm - IP Logged

                    I don't think it's misleading. It's just simple math. If someone doesn't want to use the simplified version of a fraction, then that's fine by me. Also, if someone buys 1,000,000 quick picks, then they WILL have a 1 in 146(146.107962 to be exact) chance of hitting the jackpot ASSUMING none of quick picks are repeats. But of course, even that is a pretty small chance.

                    OK, you say it's not misleading.

                    If I had a a 1 in 10 chance of winning, and I bought 5 Qps, what's my chances of winning? I say 50/50.

                    How would you write it in simple math?

                      Avatar
                      Kentucky
                      United States
                      Member #32652
                      February 14, 2006
                      7295 Posts
                      Online
                      Posted: September 1, 2007, 7:33 pm - IP Logged

                      I don't claim to be a mathmatician, but if every time you buy another ticket the odds are cut in half, that would mean I'd be guaranteed a win if I keep buying enough tickets.  If you buy $5 worth of tickets then you have 5 chances out of $146 million.  If your example were true, then I would have no problem winning the FL lottery which was over $40 million last week.  (although tonight's $6M would be just fine) 

                      We've had this discussion many times on LP.  Almost everybody argues that I am looking at this all wrong, but I think that buying 10 tickets increases your odds by giving you a 10 in 146,107,962 million shot at winning, leaving 146,107,952 other combinations that could be drawn.  Call me lousy in math, but the way people keep describing how the odds keep splitting with every ticket purchase is painting a much more optimistic picture.  Yes, every PB ticket a person buys might be one more ticket to Paradise.  But there are always going to be another 146 million other possibilities even if someone is crazy enough to spend $107,952 on one game.

                      However, I do believe that the more tickets a person buys, the better his chances are at winning.  It's just common sense.  People do win large jackpots with only one ticket.  I can't say for PB or MM, but it's not uncommon to read that someone bought a QP or 2 and won the state lottery.  Still, let's say you spent $20 and the 21st was the winner. The next person would win with only $1.  So saying "it only takes 1" is a true statement.

                      "We've had this discussion many times on LP.  Almost everybody argues that I am looking at this all wrong, but I think that buying 10 tickets increases your odds by giving you a 10 in 146,107,962 million shot at winning"

                      Naw, you expressed it right and you would have been equally correct if had said 1 in 14,610,796.2 shot of winning. The math is the same as playing all 42 pb numbers. But if you want to know what percentage of all possible combinations, you would have to divide 10 by 146,107,962 and you won't find that number on the Powerball website.

                      "However, I do believe that the more tickets a person buys, the better his chances are at winning."

                      Not exactly because buying 42 tickets with each of the 42 pb numbers would only give you one chance to win the jackpot where buying 2 tickets with the same pb number would give you two chances.

                        Avatar
                        Kentucky
                        United States
                        Member #32652
                        February 14, 2006
                        7295 Posts
                        Online
                        Posted: September 1, 2007, 7:42 pm - IP Logged

                        I understand that it's just math lingo, terminology, or mathematical semantics, but it's misleading. The huge number difference is what's misleading.

                        For a layman to see the difference (or sudden change of odds) in numbers may lead them to scratch their heads, like I used to..lol

                        Your last line in the quote above proves what I'm saying. A layman might think that if they bought a million QPs, they would have a 1 in 146 chance of hitting the JP. 

                        If you bought all the combinations (over 3.5 million) of the 55 numbers, it would give you a 1 in 42 chance of hitting the jackpot.


                          United States
                          Member #17555
                          June 22, 2005
                          5582 Posts
                          Offline
                          Posted: September 1, 2007, 7:52 pm - IP Logged

                          If you bought all the combinations (over 3.5 million) of the 55 numbers, it would give you a 1 in 42 chance of hitting the jackpot.

                          1 thru 55 is only 3.5 million?

                          Funny, 1 thru 53 in Floriduh is about 23 million combos. What Am I missing here?

                          Afterall you did say ALL combos.

                            Guru101's avatar - rw6jhh
                            Indiana
                            United States
                            Member #48725
                            January 7, 2007
                            1953 Posts
                            Offline
                            Posted: September 1, 2007, 7:58 pm - IP Logged

                            OK, you say it's not misleading.

                            If I had a a 1 in 10 chance of winning, and I bought 5 Qps, what's my chances of winning? I say 50/50.

                            How would you write it in simple math?

                            5/10 = 1/2. 1/2 = 50%.

                            Gonna win.Big Smile

                              Todd's avatar - Cylon 2.gif
                              Chief Bottle Washer
                              New Jersey
                              United States
                              Member #1
                              May 31, 2000
                              23260 Posts
                              Offline
                              Posted: September 1, 2007, 8:21 pm - IP Logged

                              <Moved to Jackpot Games forum>

                              Please post in the appropriate forum ... thank you.