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If in the future there was a $1 BILLION Mega Millions or Powerball Jackpot..

Topic closed. 63 replies. Last post 4 years ago by jerryb*49.

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How many winners of the jackpot would you like?

I hope a lottery pool with 5 or more people win [ 13 ]  [19.40%]
4 winning tickets, the JP gets split 4 ways [ 11 ]  [16.42%]
3 winning tickets, the JP gets split 3 ways [ 2 ]  [2.99%]
Two winning tickets, the jackpot get split in half [ 3 ]  [4.48%]
One winning ticket, one owner of the ticket [ 36 ]  [53.73%]
Other - I want something else to happen. (comment) [ 2 ]  [2.99%]
Total Valid Votes [ 67 ]  
Discarded Votes [ 5 ]  
Teddi's avatar - Lottery-008.jpg

United States
Member #142499
May 13, 2013
1183 Posts
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Posted: May 17, 2013, 1:36 pm - IP Logged

Why do people insist on saying no one needs X amount of money? I don't NEED indoor plumbing either, but I want it. It makes for a much easier life. 

Growing up we washed our clothes by hand and hung them out to dry. Nothing wrong with that. And yet the first thing I did after college was buy a W/D. 

I went camping for a week once in a place that had no flushing toilets, I believe what they had is called an outhouse, but there it was referred to as a pit toilet. A hole dug in the ground with a wooden box on top of it and a hole for your fanny. All closed off in a wooden closet-size room with no ventilation. Proved to me flushing toilets aren't a necessity. But I never EVER want to use something like that again. I swear I could still smell that place weeks after I left. It was like the B.O. Seinfeld episode. Dead

Does anyone actually need $50M? $500M is too much but $50M isn't? Why not?

I have a really big issue with anyone saying what another person should NOT have, unless it's a nuclear weapon or the ebola virus, they can have as much as they want. No one's individual financial success should be limited. What makes one amount of money you don't need obscene and another amount of money you don't need fine and dandy?

    savagegoose's avatar - ProfilePho
    adelaide sa
    Australia
    Member #37136
    April 11, 2006
    3300 Posts
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    Posted: May 17, 2013, 2:42 pm - IP Logged

    What's the point of having a billion dollar jackpot if you have 100 winners lol...

    1000 mill  / 100 = 10 mill each?  yeah id like to see 100 winners of 10 mill. ea week.

    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

      whiteballz's avatar - Lottery-015.jpg
      Nutley, New Jersey
      United States
      Member #131058
      August 1, 2012
      875 Posts
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      Posted: May 17, 2013, 2:45 pm - IP Logged

      I'd like to see JP capped at 50 million at all times + more million dollar winning payouts.

      No one needs 1/2 billion dollars, even in fantasy land.

      If there were more winners, there would be a better chance of someone doing good with the prize money.

       

      CK

      do I need 1/2 billion dollars? no.

      Do I want 1/2 billion dollars? yes.

      Am I willing to pay $2 for a ticket that will allow me a small chance at winning 1/2 billion dollars? YES.

       

      WB

      .

        helpmewin's avatar - dandy
        u$a
        United States
        Member #106665
        February 22, 2011
        19819 Posts
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        Posted: May 17, 2013, 6:44 pm - IP Logged

        It would be impossible for one ticket to win it all because of the large number of tickets that would be sold.

        Green laugh

        Nothing is impossible Smiley

        Let it Snow Snowman

          helpmewin's avatar - dandy
          u$a
          United States
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          February 22, 2011
          19819 Posts
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          Posted: May 17, 2013, 6:45 pm - IP Logged

          do I need 1/2 billion dollars? no.

          Do I want 1/2 billion dollars? yes.

          Am I willing to pay $2 for a ticket that will allow me a small chance at winning 1/2 billion dollars? YES.

           

          WB

                        Hat

          Let it Snow Snowman

            helpmewin's avatar - dandy
            u$a
            United States
            Member #106665
            February 22, 2011
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            Posted: May 17, 2013, 6:47 pm - IP Logged


            That's basically true.  A gaming mathemetician estimated that if it isn't won this drawing, that a billion dollar jackpot would have a 1 in 27 million chance of NOT being won, and that it would average out to have a 17 way split.  Impossible isn't the right word, but it's so unlikely it basically is.

             

            In fact, if there's a billion dollar jackpot, I'd expect at that there's usually at least 5 winners.  Maybe his analysis was wrong, but his point remains, that a billion dollar jackpot would result in like a billion or more tickets being sold.  Actually, I just looked, and he said that his analysis estimates that a billion dollar jackpot would sell roughly 3 billion tickets!  Something he admits may not even be possible.  (I guess you can analyze/estimate all you want, but this thing has never happened, so nobody actually knows what sales would be like.)

             would say he's wrong BS

            Let it Snow Snowman

              PlayToWin47's avatar - Lottery-041.jpg
              Joplin MO
              United States
              Member #138489
              January 28, 2013
              190 Posts
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              Posted: May 17, 2013, 7:00 pm - IP Logged

              It would be impossible for one ticket to win it all because of the large number of tickets that would be sold.

              Green laugh

              HeeHeeHaHaHa!!!  ...  How funny!!!

                PlayToWin47's avatar - Lottery-041.jpg
                Joplin MO
                United States
                Member #138489
                January 28, 2013
                190 Posts
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                Posted: May 17, 2013, 7:01 pm - IP Logged

                funny.....time for me to one star someone's topics. His user name rhymes with bonnie.

                Wink

                ...EVEN FUNNIER!!!  ...  HeeHeeHaHaHa!!!

                  PlayToWin47's avatar - Lottery-041.jpg
                  Joplin MO
                  United States
                  Member #138489
                  January 28, 2013
                  190 Posts
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                  Posted: May 17, 2013, 7:07 pm - IP Logged

                  I could blow a billion in a day easy.  Just give 999 other LP members a million each. Lol

                  Seriously, estate homes, yachts, private jets, and fleets of exotic cars would cause one to burn through that kind of money in 3-5 years.

                  I think that we are going to see concurrent billion $ jackpots between MM and PB.  It's been too hard to win lately.  States like California, New York, Maryland, and Illinois can't even win.

                  In that case, I **REALLY** hope you win!!!  ......  And  .....  Uhh  ......  Can I get on the list Big Smile ???

                   

                  ......Just sayin'.

                    Teddi's avatar - Lottery-008.jpg

                    United States
                    Member #142499
                    May 13, 2013
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                    Posted: May 17, 2013, 9:19 pm - IP Logged

                    do I need 1/2 billion dollars? no.

                    Do I want 1/2 billion dollars? yes.

                    Am I willing to pay $2 for a ticket that will allow me a small chance at winning 1/2 billion dollars? YES.

                     

                    WB

                    I Agree!  Absolutely!!!

                      Avatar
                      NY
                      United States
                      Member #23835
                      October 16, 2005
                      3474 Posts
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                      Posted: May 17, 2013, 10:59 pm - IP Logged


                      That's basically true.  A gaming mathemetician estimated that if it isn't won this drawing, that a billion dollar jackpot would have a 1 in 27 million chance of NOT being won, and that it would average out to have a 17 way split.  Impossible isn't the right word, but it's so unlikely it basically is.

                       

                      In fact, if there's a billion dollar jackpot, I'd expect at that there's usually at least 5 winners.  Maybe his analysis was wrong, but his point remains, that a billion dollar jackpot would result in like a billion or more tickets being sold.  Actually, I just looked, and he said that his analysis estimates that a billion dollar jackpot would sell roughly 3 billion tickets!  Something he admits may not even be possible.  (I guess you can analyze/estimate all you want, but this thing has never happened, so nobody actually knows what sales would be like.)

                      The "gaming mathematician" is wrong.

                      A billion dollar PB jackpot would have a cash value of about $630 million, which requires total sales of a bit less than a billion tickets. It would also take several rollovers to get there, so the drawing for the billion dollar jackpot would have sales of far less than a billion tickets. If the current run rolls and makes it to a billion it would have sales of about 400 million tickets. With about 175 million possible combinations, that's theoretically enough for every combination to be used twice and about  28% of them to be used a third time, but that's not how it works in the real world.

                      Since combinations aren't used systematically, it's nearly impossible to use every combination. Once half of them have been used every other ticket that's sold can be expected to duplicate an already used combination. When 75% have been used 3 out of 4 tickets can be expected to repeat combinations that has already been used. If 90% of the combinations were used only 1 in 10 tickets could be expected to be one of the combinations that hadn't already been used. And finally,even if sales were so high that 99% of combinations had been used we could expect that only 1 out of every 100 tickets would use one of the remaining combinations.

                      Selling 400 million tickets would use about 90% of the combinations, so a jackpot that reaches a billion dollars should still have about a 10% chance of rolling.

                        Boney526's avatar - NjlpLogo
                        New Jersey
                        United States
                        Member #99032
                        October 18, 2010
                        1439 Posts
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                        Posted: May 17, 2013, 11:49 pm - IP Logged

                        The "gaming mathematician" is wrong.

                        A billion dollar PB jackpot would have a cash value of about $630 million, which requires total sales of a bit less than a billion tickets. It would also take several rollovers to get there, so the drawing for the billion dollar jackpot would have sales of far less than a billion tickets. If the current run rolls and makes it to a billion it would have sales of about 400 million tickets. With about 175 million possible combinations, that's theoretically enough for every combination to be used twice and about  28% of them to be used a third time, but that's not how it works in the real world.

                        Since combinations aren't used systematically, it's nearly impossible to use every combination. Once half of them have been used every other ticket that's sold can be expected to duplicate an already used combination. When 75% have been used 3 out of 4 tickets can be expected to repeat combinations that has already been used. If 90% of the combinations were used only 1 in 10 tickets could be expected to be one of the combinations that hadn't already been used. And finally,even if sales were so high that 99% of combinations had been used we could expect that only 1 out of every 100 tickets would use one of the remaining combinations.

                        Selling 400 million tickets would use about 90% of the combinations, so a jackpot that reaches a billion dollars should still have about a 10% chance of rolling.

                        EDIT: Ignore this, your response in the other thread touches on what I originally wrote here.

                          Boney526's avatar - NjlpLogo
                          New Jersey
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                          October 18, 2010
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                          Posted: May 17, 2013, 11:52 pm - IP Logged

                           would say he's wrong BS

                          If there are 1 billion ticket sales for a drawing, then the average number of winners would be 1 billion / 175 million = around 5.7 winners as an average.

                           

                          He said an average of 17 winners as a function of the assumption that there would be 3 billion ticket sales, and also said that he didn't believe that was possible, just what his model predicted.  The whole point he was trying to get across was that even if his model came up with the wrong number, the increase in ticket sales makes the value of a lottery ticket go up until the jackpot is around 425 million, at which point, increased sales start decreasing each individual ticket's value.

                            Avatar
                            Chicago
                            United States
                            Member #90131
                            April 22, 2010
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                            Posted: May 18, 2013, 7:19 pm - IP Logged

                            Even if there was one winner, the net would be way less than $1 billion, so the winner will not be a real billionaire.  But th lottery will still make you hold the big faux check for $1 billion so they can call you a billionaire.

                            Jerry B

                              Avatar
                              London
                              United Kingdom
                              Member #140684
                              March 24, 2013
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                              Posted: May 20, 2013, 12:38 pm - IP Logged

                              Kind of sucks the EuroMillions caps at at like 150M or near there. But we don't pay any sort of tax so that's a bonus I guess.

                              2016 Won/Lost

                              EuroMillions / Spent: £22 / Won £0 / Total -£22

                              UK Lotto / Spent: £4 / Won: £0 / Total: -£4

                              2016 Total: -£24

                              Jan: -£22 Feb: £0 ~ Mar: £0 ~ April: £0 ~ May: £0 ~ June: £0 ~ July: £2

                               

                              EuroMillions = £2 Line / Played: x11 [old price] 

                              EuroMillions = £2.50 Line / Played: x0

                              UK Lotto = £2 Line / Played x2