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

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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 ]

[ 19.4% ]

4 winning tickets, the JP gets split 4 ways

[ 11 ]

[ 16.4% ]

3 winning tickets, the JP gets split 3 ways

[ 2 ]

[ 3.0% ]

Two winning tickets, the jackpot get split in half

[ 3 ]

[ 4.5% ]

One winning ticket, one owner of the ticket

[ 36 ]

[ 53.7% ]

Other - I want something else to happen. (comment)

[ 2 ]

[ 3.0% ]

Total valid votes

[ 67 ]

Discarded votes

[ 5 ]

Teddi

United States
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May 13, 2013
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May 17, 2013, 1:36 pm

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.

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

adelaide sa
Australia
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April 11, 2006
3,341 Posts
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May 17, 2013, 2:42 pm

Quote: Originally posted by yoho on May 16, 2013
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.

" Still swinging, still missing "
2014 = -1016; 2015= -1409; 2016 = -1171; 2017 = -1257 ; 2018 = - 1380 = TOT = - 6233

keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223 TOT = -3968

:
whiteballz

Nutley, New Jersey
United States
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August 1, 2012
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May 17, 2013, 2:45 pm

Quote: Originally posted by CharlesKFL on May 17, 2013
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

100

u$a
United States
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February 22, 2011
19,960 Posts
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May 17, 2013, 6:44 pm

Quote: Originally posted by Ronnie316 on Apr 24, 2013
It would be impossible for one ticket to win it all because of the large number of tickets that would be sold.

Nothing is impossible
helpmewin

100

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United States
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May 17, 2013, 6:45 pm

Quote: Originally posted by whiteballz on May 17, 2013
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

100

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United States
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February 22, 2011
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May 17, 2013, 6:47 pm

Quote: Originally posted by Boney526 on May 17, 2013

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
PlayToWin47

Joplin MO
United States
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January 28, 2013
190 Posts
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May 17, 2013, 7:00 pm

Quote: Originally posted by Ronnie316 on Apr 24, 2013
It would be impossible for one ticket to win it all because of the large number of tickets that would be sold.

HeeHeeHaHaHa!!! ... How funny!!!
PlayToWin47

Joplin MO
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January 28, 2013
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May 17, 2013, 7:01 pm

Quote: Originally posted by whiteballz on Apr 24, 2013
funny.....time for me to one star someone's topics. His user name rhymes with bonnie.

...EVEN FUNNIER!!! ... HeeHeeHaHaHa!!!
PlayToWin47

Joplin MO
United States
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January 28, 2013
190 Posts
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May 17, 2013, 7:07 pm

Quote: Originally posted by jjtheprince on Apr 25, 2013
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 ???

......Just sayin'.
Teddi

United States
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May 13, 2013
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May 17, 2013, 9:19 pm

Quote: Originally posted by whiteballz on May 17, 2013
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

Absolutely!!!
KY Floyd

NY
United States
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October 16, 2005
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May 17, 2013, 10:59 pm

Quote: Originally posted by Boney526 on May 17, 2013

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

New Jersey
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October 18, 2010
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May 17, 2013, 11:49 pm

Quote: Originally posted by KY Floyd on May 17, 2013
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

New Jersey
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May 17, 2013, 11:52 pm

Quote: Originally posted by helpmewin on May 17, 2013
would say he's wrong

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.
jerryb*49

Chicago
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April 22, 2010
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May 18, 2013, 7:19 pm

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
JoshUK

London
United Kingdom
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March 24, 2013
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May 20, 2013, 12:38 pm

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.

£2.50 and a dream!