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Buying More Than 1 Lottery Ticket Does Not Make Economic Sense Regardless Of The Jackpot Amount.

Topic closed. 41 replies. Last post 5 years ago by rdgrnr.

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NEW YORK
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Posted: April 27, 2012, 11:54 am - IP Logged

"RICH GET RICHER WALL STREET GUYS WIN $254M WITH $1 LOTTERY TICKET." FINANCE PROS TURN $1 INTO $254M WITH LOTTERY.  THEY'RE RICH AND RICHERER."

 

November 2, 2011 POWERBALL WINNING NUMBERS:12-14-34-39-46+ POWERBALL ( 36 )

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PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

    savagegoose's avatar - ProfilePho
    adelaide sa
    Australia
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    Posted: April 28, 2012, 6:45 am - IP Logged

    here it does. They changed the payout from jackpot to , a set 1 mill for ea of 1st 2 winners. so buying 2 tickets with same winning numbers on will get you $2 mill. where as 1 winning  ticket will get you 1 mill..

    2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

    keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

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      Kentucky
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      February 14, 2006
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      Posted: April 28, 2012, 5:48 pm - IP Logged

      Since there is a low probability of the jackpot being won when ticket sales are lower, getting more than 1 QP is probably not a good idea unless you're playing for secondary prizes. The people playing their own numbers don't care about the probabilities and usually play every drawing. The record MM jackpot was probably a "must win" jackpot so buying more tickets gave players more chances to win.

      There are times when it makes sense to buy more tickets.

        RJOh's avatar - chipmunk
        mid-Ohio
        United States
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        Posted: April 28, 2012, 6:38 pm - IP Logged

        For some folks buying a lottery ticket never make sense, neither does smoking, drinking and womanizing but I've never care much about what makes sense to others when I'm spending my money on my own enjoyment. What matters to me it that it makes sense to me.

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

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
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          Posted: April 28, 2012, 11:34 pm - IP Logged

          For some folks buying a lottery ticket never make sense, neither does smoking, drinking and womanizing but I've never care much about what makes sense to others when I'm spending my money on my own enjoyment. What matters to me it that it makes sense to me.

          I agree.

          I've always liked womanizin'.

          All my wives hated it though.

          Picky, picky, picky.


                                                       
                               
                                                   

           

           

           

           

                                                                                                             

          "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                      --Edmund Burke

           

           


            United States
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            March 14, 2012
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            Posted: April 29, 2012, 3:04 am - IP Logged

            oh boy here we go again...Crazy

            is it 4:20 yet?

            I need to get my white owls...my bacardi...and the number of my next mistress who is sitting at the bar...Big Grin Angel

              LottoGuyBC's avatar - Lottery-050.jpg
              British Columbia
              Canada
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              September 4, 2011
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              Posted: April 29, 2012, 10:06 pm - IP Logged

              Bed

              "You have to be in it to win it!"

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                NEW YORK
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                Posted: May 3, 2012, 10:02 am - IP Logged

                Since there is a low probability of the jackpot being won when ticket sales are lower, getting more than 1 QP is probably not a good idea unless you're playing for secondary prizes. The people playing their own numbers don't care about the probabilities and usually play every drawing. The record MM jackpot was probably a "must win" jackpot so buying more tickets gave players more chances to win.

                There are times when it makes sense to buy more tickets.

                THE LOTTERY 50/50 RULE=PLAYING THE LOTTERY IS A WIN/LOSE SITUATION NO MATTER HOW MANY TICKETS WE BUY.

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                PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

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                  NEW YORK
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                  Posted: May 3, 2012, 4:50 pm - IP Logged

                  "RICH GET RICHER WALL STREET GUYS WIN $254M WITH $1 LOTTERY TICKET." FINANCE PROS TURN $1 INTO $254M WITH LOTTERY.  THEY'RE RICH AND RICHERER."

                   

                  November 2, 2011 POWERBALL WINNING NUMBERS:12-14-34-39-46+ POWERBALL ( 36 )

                  THEY PLAYED A SINGLE LINE TO WIN THE NEW YORK LOTTERY VERY FIRST POWERBALL JACKPOT.

                   

                  WHICH HAS THE BETTER CHANCE OF WINNING: COMPUTER PICKS OR PLAYER PICKS?

                  "About 70% to 80% of purchases are computer picks. About 70% to 80% of winners are computer picks. Perhaps just one of those weird coincidences?" http://www.powerball.com/pb_contact.asp

                   

                  "Wilton Husband and Wife Win $48.8M Powerball Jackpot from Christmas Day Drawing

                  The New York Lottery today introduced Jeffrey "Jeff" Pintuff and his wife, Christine "Chris" Pintuff of Wilton, Saratoga County as the winners of the December 25th, 2010 Powerball drawing for a jackpot of $48.8 million. The Pintuffs, both 58, spent more than a month interviewing financial planners before stepping forward on February 1st to claim their prize at the Lottery's Customer Service Center in Schenectady.

                  The winners, married 30 years, realized their good fortune after a hectic Christmas weekend. Jeff, now retired from his quality assurance job at Atlas Copco in Voorheesville, said he purchased the ticket a couple of days in advance of the drawing as the couple prepared to receive guests for the long holiday weekend. "I left work early on December 23rd so I could help with the cooking and cleaning before our guests came," he said. On the way home, Pintuff stopped at the Stewart's Shop on Route 50 in Wilton and purchased the $1 Quick Pick ticket for the December 25th Powerball drawing for $48.8 million. "I put the ticket on the fridge under a magnet like I always do," he said. "And never gave it a second thought until the morning after the drawing."

                  On Monday, December 27th, Jeff checked the ticket online and told his wife, "We won the Powerball!" "How many numbers did we get?" she asked in reply. Pintuff said he repeated himself numerous times before either could believe their good fortune. The couple then signed the ticket and took it to their safe deposit box until they were ready to claim.

                  December 25, 2010 POWERBALL WINNING NUMBERS: 01-17-38-50-52 + POWER BALL ( 24 ) POWER PLAY x 02    1 WINNERS OF  $48,000,000.00 Jackpot (TICKETS SOLD IN : NY) 2 SECOND-PRIZE WINNERS OF  $200,000.00 (TICKETS SOLD IN : IL,NY)

                  New York WinnerPrize LevelNumbers MatchedPrize Amount
                  1First5 of 5 + Power Ball$48,000,000.00
                  Winning Counties: SARATOGA                  (QP),
                  Retailer Locations:
                  • STEWART'S SHOPS #314          , 4208 RTE 50                   , SARATOGA SPRINGS 
                  1Second5 of 5$200,000.00
                  Winning Counties: QUEENS                    (QP),
                  Retailer Locations:
                  • ROJA GROCERY INC              , 224-11 UNION TPKE             , OAKLAND GARDENS 
                  2Third4 of 5 + Power Ball$10,000.00
                  31Fourth4 of 5$100.00
                  78Fifth3 of 5 + Power Ball$100.00
                  2421Sixth3 of 5$7.00
                  1150Seventh2 of 5 + Power Ball$7.00
                  7944Eighth1 of 5 + Power Ball$4.00
                  16419NinthPower Ball Only$3.00

                  Chris Pintuff retired from her nursing position at Saratoga Hospital just days before claiming the prize. "It was scary," she said. "I've been there for 30 years." Pintuff said the only thing she found to be more difficult than leaving her job was keeping her secret from her friends and co-workers. "It was hard to keep such a big secret, but we just weren't ready to tell anyone."

                  The Pintuffs opted to receive their prize as a lump sum with each receiving a 50 percent share of the prize. Each will receive a one-time payment totaling more than $12.4 million or $8.2 million after taxes. "I worry about what to do with 500 bucks," said Jeff Pintuff upon learning of his share of the prize. "I'm so glad we had a plan for the money."

                  The Pintuffs said their plans for the money are modest. "My children keep telling me I need a new car," he said. "I only have 163,000 miles on the one I have now. I think I can get it to 200,000." Chris Pintuff said she was thinking about getting away. "We haven't been away from home for more than three days since 1996," she said. "We need a vacation."

                  http://readme.readmedia.com/New-York-Powerball-Winners-Step-Forward-to-Claim-170-9-Million-in-Prizes/2043771

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                  PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!


                    Bahamas
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                    Posted: May 21, 2012, 6:10 pm - IP Logged

                    Since there is a low probability of the jackpot being won when ticket sales are lower, getting more than 1 QP is probably not a good idea unless you're playing for secondary prizes. The people playing their own numbers don't care about the probabilities and usually play every drawing. The record MM jackpot was probably a "must win" jackpot so buying more tickets gave players more chances to win.

                    There are times when it makes sense to buy more tickets.

                    3 times consecutively in the new/revised Powerball Game before the jackpot started paying for itself someone won.

                     

                    While there are trends that hold true for a season, random is random, and there will always be a new trend to break what we've always believed to be true!

                    "Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"

                      Lucky Loser's avatar - bucks
                      Texas
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                      Posted: May 21, 2012, 6:19 pm - IP Logged

                      One ticket can absolutely win it...no doubt. Just gotta be very, very lucky that's all. This is what happens when winner stories are published in detail, and, it's good in this particular regard. It let's the players know they need not drop $20 for a shot at it. However, the opposite is also true where some go out and spend lots of money and incidentally win...causing would be players to think they can definitely win on a $100 drop. In the end, it's really just the absolute luck of the draw and who, if anyone, has those numbers.


                      L.L.


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                        Posted: May 21, 2012, 6:22 pm - IP Logged

                        One ticket can absolutely win it...no doubt. Just gotta be very, very lucky that's all. This is what happens when winner stories are published in detail, and, it's good in this particular regard. It let's the players know they need not drop $20 for a shot at it. However, the opposite is also true where some go out and spend lots of money and incidentally win...causing would be players to think they can definitely win on a $100 drop. In the end, it's really just the absolute luck of the draw and who, if anyone, has those numbers.


                        L.L.

                        It is also true that every line played will eventually win, if played long enough.


                          Bahamas
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                          Posted: May 21, 2012, 6:24 pm - IP Logged

                          It is also true that every line played will eventually win, if played long enough.

                          And it is on that premise that I have built my lottery strategy!

                          "Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"


                            United States
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                            Posted: May 21, 2012, 6:31 pm - IP Logged

                            And it is on that premise that I have built my lottery strategy!

                            Im planning on playing for 28,000 years if need be. How long will yours take??


                              Bahamas
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                              Posted: May 21, 2012, 6:34 pm - IP Logged

                              Im planning on playing for 28,000 years if need be. How long will yours take??

                              I have been investing a lot of time on refining my strategy on so many levels...I smell a win in the not too distant future. Jackpot or at minimum a 5 of 5.

                              "Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"