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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".
Indiana United States
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Quote: Originally posted by SmoothJuice on Sep 1, 2007
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.
mid-Ohio United States
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Quote: Originally posted by SmoothJuice on Sep 1, 2007
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 every combination, just the winning ones *
Wandering Aimlessly United States
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Quote: Originally posted by Guru101 on Sep 1, 2007
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.
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Quote: Originally posted by RJOh on Sep 1, 2007
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.
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Quote: Originally posted by justxploring on Sep 1, 2007
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
Indiana United States
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Quote: Originally posted by justxploring on Sep 1, 2007
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.
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Quote: Originally posted by Guru101 on Sep 1, 2007
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.
Indiana United States
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Quote: Originally posted by pacattack05 on Sep 1, 2007
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.
United States
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Quote: Originally posted by Guru101 on Sep 1, 2007
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.
Kentucky United States
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February 14, 2006
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Quote: Originally posted by justxploring on Sep 1, 2007
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.
Kentucky United States
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Quote: Originally posted by pacattack05 on Sep 1, 2007
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.
