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Powerplay For Powerball

Topic closed. 9 replies. Last post 1 year ago by dddwww.

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Last 09son's avatar - DiscoBallGlowing
Nassau
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December 26, 2008
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Posted: January 13, 2016, 2:40 pm - IP Logged

292.3 million for 1.5 billion!!!

Good investment Wink or not?

Money's on my mind,money's all i think of!!!!$$$. A.K.A:SCROOGE

    Last 09son's avatar - DiscoBallGlowing
    Nassau
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    Posted: January 13, 2016, 2:47 pm - IP Logged

    Although possible , I really think that there won't be more than three winners.

    There would still be a profit!

    Money's on my mind,money's all i think of!!!!$$$. A.K.A:SCROOGE

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      December 18, 2014
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      Posted: January 13, 2016, 4:13 pm - IP Logged

      Although possible , I really think that there won't be more than three winners.

      There would still be a profit!

      What are you talking about? Do the math.... If you really bought all possible combinations, and even 1 person wins it with you, after all the taxes, you will lose money. Come on man.

        Last 09son's avatar - DiscoBallGlowing
        Nassau
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        Posted: January 13, 2016, 5:48 pm - IP Logged

        What are you talking about? Do the math.... If you really bought all possible combinations, and even 1 person wins it with you, after all the taxes, you will lose money. Come on man.

        would it be the same with the annuity and the cash lump sum payment?

        Money's on my mind,money's all i think of!!!!$$$. A.K.A:SCROOGE

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          Wyomissing, PA
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          Posted: January 13, 2016, 6:16 pm - IP Logged

          Firstly, the annuity value is meaningless beyond marketing.  Powerball tickets are $2 each. So it would take upwards of $584 million to buy all the combinations. However, as already pointed out, would be a lousy wager due to taxes, etc plus the relatively high probability of there be at least one other winner splitting the $930 million cash jackpot.

          As for adding Powerplay for an extra $1. There's many schools of thought on this, but my personal belief is it's worthwhile, since winning a lower tier prize is far more likely. Even 2nd place is 25X more likely than hitting the jackpot. Without Powerplay, match-5 pays $1 million (except California; variable there), but with Powerplay is doubled to $2 million.

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            New Member

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            Member #171734
            January 11, 2016
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            Posted: January 14, 2016, 6:02 pm - IP Logged

            Firstly, the annuity value is meaningless beyond marketing.  Powerball tickets are $2 each. So it would take upwards of $584 million to buy all the combinations. However, as already pointed out, would be a lousy wager due to taxes, etc plus the relatively high probability of there be at least one other winner splitting the $930 million cash jackpot.

            As for adding Powerplay for an extra $1. There's many schools of thought on this, but my personal belief is it's worthwhile, since winning a lower tier prize is far more likely. Even 2nd place is 25X more likely than hitting the jackpot. Without Powerplay, match-5 pays $1 million (except California; variable there), but with Powerplay is doubled to $2 million.

            There is no need for beliefs, personal or otherwise, when it comes to the Powerball and Powerplay.

             

            The expected non-jackpot return of a $2 Powerball ticket played w/o Powerplay is roughly 32 cents

            If you are doing the Powerplay when the 10x multiplier is available your expected non-jackpot return on your $3 ticket is 82 cents.

            So in return for giving them another $1 the lottery gives you another 50 cents back.

             

            That's my quick spreadsheet math.  Powerplay tickets return a higher percentage of your money but are not "better" than not adding a $1 to your ticket.

             

            I didn't do the math with the 10x multiplier unavailable but suspect the result is similar, money spent on Powerplay is more money wasted.

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              New Member

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              Posted: January 14, 2016, 6:07 pm - IP Logged

              Since part of my statement might have been confusing:

              If you have $3 in your pocket there are three options:

              1) Keep the $3 in your pocket

              2) Spend $2 on a Powerball ticket and keep $1 in your pocket

              3) Spend the $3 on a Powerball ticket and a Powerplay

               

              The expected returns of each choice are:

              1) $3.00

              2) $1.32

              3) $0.82

                Last 09son's avatar - DiscoBallGlowing
                Nassau
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                Posted: January 15, 2016, 7:31 pm - IP Logged

                Smile got it! Thumbs Up

                Money's on my mind,money's all i think of!!!!$$$. A.K.A:SCROOGE

                  ArizonaDream's avatar - Lottery-009.jpg

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                  Posted: January 15, 2016, 7:41 pm - IP Logged

                  If you are doing the Powerplay when the 10x multiplier is available your expected non-jackpot return on your $3 ticket is 82 cents.

                   

                  Most of the time, the powerplay multiplier is 2x or 3x, how do your numbers work out with 2 or 3x? 

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                    Posted: January 16, 2016, 2:28 am - IP Logged

                    If you are doing the Powerplay when the 10x multiplier is available your expected non-jackpot return on your $3 ticket is 82 cents.

                     

                    Most of the time, the powerplay multiplier is 2x or 3x, how do your numbers work out with 2 or 3x? 

                    You can't do it that way, since you don't know what the multiplier will be when you buy your ticket you have to sum the expected returns for each multiplier

                    If the 10x multiplier isn't available your expected return from spending the $1 is reduced by about 6 cents.

                    Just to show you how awful the house odds are with Powerball, even if 10x is chosen you will only expect to get back $2.51 of your $3 investment

                    When 2x is chosen your expected return is 64 cents for the $3, for 3x it is 87 cents.