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Is it smart to spend more on extremely large jackpots?

Topic closed. 13 replies. Last post 4 years ago by helpmewin.

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Poo Nanny's avatar - 2649029

United States
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March 30, 2012
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Posted: May 16, 2013, 9:32 pm - IP Logged

I was thinking about this today before I purchased some tickets. When large jackpots come up like his one, I usually buy more than my usual number of tickets. As I was waiting to purchase my tickets, I thought maybe I should be spending the extra money when the jackpot is in the 250 to 350 million range. When the jackpot gets in the extremly large amounts,  you are more likely to split if you get lucky and win. However, I noticed the jackpots in the 250 to 350 million range tend to have single winners. If I am going to spend the extra money should I do it when my actual payoff is more likely going to be larger

    noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
    Bay Area - California
    United States
    Member #136477
    December 12, 2012
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    Posted: May 16, 2013, 10:49 pm - IP Logged

    I was thinking about this today before I purchased some tickets. When large jackpots come up like his one, I usually buy more than my usual number of tickets. As I was waiting to purchase my tickets, I thought maybe I should be spending the extra money when the jackpot is in the 250 to 350 million range. When the jackpot gets in the extremly large amounts,  you are more likely to split if you get lucky and win. However, I noticed the jackpots in the 250 to 350 million range tend to have single winners. If I am going to spend the extra money should I do it when my actual payoff is more likely going to be larger

    Would not change the Odds.Here is why-One winner out of millions of players.

    $338M lottery winner says he feels 'pure joy'

     US immigrant wins Powerball jackpot: Pedro Quezada, who won $338 million in the Powerball jackpot, appears in Lawrenceville, N.J. on March 26, 2013. IMAGE
    AP Photo: Julio Cortez. US immigrant wins Powerball jackpot: Pedro Quezada, who won $338 million in the Powerball jackpot, appears in Lawrenceville, N.J. on March 26, 2013. IMAGE
      rdgrnr's avatar - walt
      Way back up in them dadgum hills, son!
      United States
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      April 28, 2009
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      Posted: May 17, 2013, 12:10 am - IP Logged

      40 Million or 700 Million, it don't make no nevermind to me.

      I don't get all crazy.

      Wouldn't be prudent.

        SergeM's avatar - slow icon.png
        Economy class
        Belgium
        Member #123700
        February 27, 2012
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        Posted: May 17, 2013, 9:34 am - IP Logged

        You won the lottery when you kept all your teeth until you blow out your last breath. Money makes happy only you shouldn't spend it on unhealthy things.

          BreakingBad94's avatar - tumblr m7404b0Zj51qieieio1_250.jpg
          Alpharetta, GA
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          April 1, 2013
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          Posted: May 17, 2013, 1:56 pm - IP Logged

          Im sure it is smart to spend on more tickets, especially with this prize. I plan on actually playing PB, I actually dispise it because of its ripoff cost. In total I plan on spending $30. $20 own #'s, $10 QP. We shall see what happens.

          "You are a wealthy man now. One must learn to be rich. To be poor, anyone can manage. " -- Gus Fring from Breaking Bad

            savagegoose's avatar - ProfilePho
            adelaide sa
            Australia
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            April 11, 2006
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            Posted: May 17, 2013, 2:19 pm - IP Logged

            say there was a 10 horse race, and you could put  $1 on and win the pot.  the pot starts at $1.  it wouldnt be such a great  bet, but if the pot  rose to $10 , then just maybe its a fair bet. if the pot rose to $20, then its a great bet.

             

            this is  great bet

            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

              rdgrnr's avatar - walt
              Way back up in them dadgum hills, son!
              United States
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              April 28, 2009
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              Posted: May 17, 2013, 4:58 pm - IP Logged

              You won the lottery when you kept all your teeth until you blow out your last breath. Money makes happy only you shouldn't spend it on unhealthy things.

              Ain't nobody got many teeth where I live.

              And I got a theory about that. 

              It's the long beards that cause it.

              They create a gravitational vacuum that sucks all the varnish outta your teeth and drains it down into your beard.

              I told the dentist that down the mountain at the feed store and he said that was the stupidest dadblamed thing he ever heard in his whole life.

              He thinks he knows everything.

              But he don't know nothin'.

                SergeM's avatar - slow icon.png
                Economy class
                Belgium
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                February 27, 2012
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                Posted: May 17, 2013, 5:28 pm - IP Logged

                Ain't nobody got many teeth where I live.

                And I got a theory about that. 

                It's the long beards that cause it.

                They create a gravitational vacuum that sucks all the varnish outta your teeth and drains it down into your beard.

                I told the dentist that down the mountain at the feed store and he said that was the stupidest dadblamed thing he ever heard in his whole life.

                He thinks he knows everything.

                But he don't know nothin'.

                  EZMoney's avatar - weedss04lx1

                  United States
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                  Posted: May 17, 2013, 5:38 pm - IP Logged

                  Mathematically, the powerball jackpot is now high enough where you get +EV from playing any amount of tickets.  So the answer is yes.  This $600M jackpot is one of the few, rare instances where it is a smart bet to play the lottery.

                    RJOh's avatar - chipmunk
                    mid-Ohio
                    United States
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                    March 24, 2001
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                    Posted: May 17, 2013, 5:59 pm - IP Logged

                    I keep records of all the combinations I play and sometimes of the ones I might have played had I played more.  In 80% of the cases when I win anything, it's in the first 10 lines.  Usually any lines I play in addition to the first ten is a waste of money. 

                    In spite  of that knowledge I still usually play 20 lines.  If I play PB this weekend I will limit myself to 10 lines because of the $2 ticket price.

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

                      redhot7's avatar - SetforLifeLogo
                      California
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                      Posted: May 18, 2013, 5:05 am - IP Logged

                      your odds of winning when buying one ticket is about 1 in 175 millions or 0.00000057%. You are going to need to buy 1.75 millions tickets just to increase the odds to 1%.

                        dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                        Oklahoma
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                        November 12, 2009
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                        Posted: May 18, 2013, 8:30 am - IP Logged

                        Don't break the bank all it takes is one ticket.

                        I Love Pink & Green 1908

                          dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                          Oklahoma
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                          November 12, 2009
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                          Posted: May 18, 2013, 8:32 am - IP Logged

                          Ain't nobody got many teeth where I live.

                          And I got a theory about that. 

                          It's the long beards that cause it.

                          They create a gravitational vacuum that sucks all the varnish outta your teeth and drains it down into your beard.

                          I told the dentist that down the mountain at the feed store and he said that was the stupidest dadblamed thing he ever heard in his whole life.

                          He thinks he knows everything.

                          But he don't know nothin'.

                          Big Grin

                          I Love Pink & Green 1908

                            helpmewin's avatar - dandy
                            u$a
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                            February 22, 2011
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                            Posted: May 18, 2013, 8:38 am - IP Logged

                            Big Grin

                            i think it's more like this

                            Let it Snow Snowman