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Good Investment Or Not- Playing Every Combination

Topic closed. 30 replies. Last post 6 years ago by RJOh.

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Posted: May 12, 2011, 8:51 pm - IP Logged

Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?


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    Posted: May 12, 2011, 9:21 pm - IP Logged

    Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?

    If you had 10 million to spare, you probably don't need the money.

     A couple of Frenchman tried this a few years ago and won, but they had a lot of resistance and I believe the laws were changed after. The problem with this is that even If you could do this, you may have to split the JP with other winners. Also, most places only allow about 10 minutes per person to use the machine. You'd need an army spread out playing at every terminal.

      sully16's avatar - sharan
      Ringleader
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      Posted: May 12, 2011, 9:28 pm - IP Logged

      Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?

      I wonder how long it would take to fill out the bet slips,? to insure every combo, and how much would it cost to pay people to do that, ? to late for my brain to process this.

       HyperBe Happy.

        OwlCreekBridge's avatar - Lottery-031.jpg
        lottoville
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        Posted: May 12, 2011, 11:36 pm - IP Logged

        Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?

        Even if you had the $10,179,260 to buy the tickets and you got past the logistics of having to buy over 10 million tickets, this would be a horrible investment.

        First of all, the $18.25 Million jackpot is the 26 year installment. If you took the lump sum, it would be around half that amount. Second, you would have to pay state and federal income tax. At the end of it all, you would end up much poorer than when you started.

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          Zeta Reticuli Star System
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          Posted: May 13, 2011, 12:55 am - IP Logged

          Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?

          Look at the back of your playslip.

          GRAND PRIZE Six wining numbers in one game grid

          Odds 1:20,358,520

          Chances on a $1 play (2 grids) 1:10,179,260

          ___________________________________________

          The second figure is for 2 grids since you get two for $1.

          But even if you were up against the second figure, not the first (you're up against the first, that's how many possible combinations there are) and let's say you hit it.....what if omeone else did the same draw? Now what?

          NEVER ASSUME A SOLO HIT.

          That's along with the other things pointed out in this thread by OwlCreekBridge, 26 installments, taxes, etc...

          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

          Lep

          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

            savagegoose's avatar - ProfilePho
            adelaide sa
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            Posted: May 13, 2011, 1:52 am - IP Logged

            dont forget taxes

            2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = ?  TOT =  -3596

            keno historic = -2291 ; 2015= -603; 2016= -424; 2017 = ? TOT = - 3318

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              Posted: May 13, 2011, 2:51 am - IP Logged

              dont forget taxes

              you could probably write most of it off with all the losing tickets

              2014 Highest Winner: $500

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                Posted: May 13, 2011, 8:39 am - IP Logged

                Bad investment of time and sanity.

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                  Chief Bottle Washer
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                  Posted: May 13, 2011, 12:18 pm - IP Logged

                  <Moved to Jackpot Games forum>

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

                    Raven62's avatar - binary
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                    Posted: May 13, 2011, 12:31 pm - IP Logged

                    Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?

                    Gambling is Not an Investment and Their are No: Sure to Win Gambling Situations! Thud

                    A mind once stretched by a new idea never returns to its original dimensions!

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                      Posted: May 13, 2011, 1:57 pm - IP Logged

                      How come nobody said:

                      'If it was feasible it would have already been done'.

                      One group tried - and hit it - by playing I think about 30% of the combos, but even they ended up losing on the deal after taxes.

                        time*treat's avatar - radar

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                        Posted: May 13, 2011, 5:00 pm - IP Logged

                        Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?

                        Feasibility aside, the (after tax) cash value of the 6/6 match plus all the secondary prizes (5/6, 4/6, etc.) would have to sum to greater than $10.18 million AND there would have to be only one jackpot winning ticket -- for it to be a sure-shot good investment. Type

                        As far as whether or not it should be called investment vs. gambling, far more wealth has been vaporized in traditional "respectable" forms of "investment". Bondholders of a certain "blue chip" auto company know all about that. It's ALL gambling.

                        In neo-conned Amerika, bank robs you.
                        Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

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                          Zeta Reticuli Star System
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                          Posted: May 13, 2011, 6:07 pm - IP Logged

                          you could probably write most of it off with all the losing tickets

                          Good point, but another reason to never assume hitting solo.

                          There's 20 + million combinations, not 10 + million.

                          So let's say someone actually played them all. Say the jackpot is 18 million or even 21 million (1 million over the possible combos).

                          Now let's say it's a shared jackpot, two people hit. The 21 million now gets split two ways, pre-tax.

                          YOU CAN ONLY WRITE OFF LOSSES UP TO YOUR WINNINGS. In other words, a person can't win $100,000 say, and say "but I had $200,000 in losers".

                          So if t was a split jackpot, instead of 21 million their share would be 10.5 million, and the other 10 millions in losers would be one humongous crow sandwich.

                          Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                          Lep

                          There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                            time*treat's avatar - radar

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                            Posted: May 13, 2011, 6:29 pm - IP Logged

                            Yeah, it's odds of 1 in ~20 million (buried back in the game description page), but they have 1 in ~10 million on the easy-to-find front page Lotto chart -- so that changes things. The prize has to be much higher than it currently is to make "buy all combos" work.

                            If they could make the site more "useful" and less "playful", that would help immensely.

                            In neo-conned Amerika, bank robs you.
                            Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

                              RJOh's avatar - chipmunk
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                              Posted: May 13, 2011, 6:59 pm - IP Logged

                              Currently the Illinois Lotto has a jackpot at $18.25 Million. The odds based on a $1 bet are 1:10,179,260 to automatically win. Would it be a good investment to play every combination at $10,179,260 to automatically win which could be $18.25 million? And is it feasible to obtain all the tickets needed?

                              That was done some 15-20 years ago with the Virginia lottery by an Australian business group.  They made out their tickets ahead of time and hire several bonded people to try and play all their play slips in three days.  They tied up three terminals at three different Seven/Eleven stores and played more than 80% of the combinations. 

                              They got lucky and was the only jackpot winner but as a result most states changed their policies to prevent that from ever happening again that way.  Now most states don't allow one person or group to control a terminal longer than a few minutes if others are waiting to use it so the logistic of playing that many play slip is almost impossible today.

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