Welcome Guest
Log In | Register )
You last visited January 24, 2017, 12:02 am
All times shown are
Eastern Time (GMT-5:00)

Mass Millions Won

Topic closed. 9 replies. Last post 13 years ago by Jake649.

Page 1 of 1
PrintE-mailLink
Jake649's avatar - scene sunovermountains.jpg

Canada
Member #2673
November 2, 2003
497 Posts
Offline
Posted: March 12, 2004, 11:54 am - IP Logged

Darm, the Mass Millions jackpot was won. I was hoping to get a chance to buy some tickets before the jackpot was won. Lottery opportunities like this come by very seldom.

I had devised a lottery pool scheme to use in cases where it is profitable to try to buy all of the available tickets. If I get the time, I will write the scheme down in detail and post here.

Good luck,
Jake


    United States
    Member #379
    June 5, 2002
    11296 Posts
    Offline
    Posted: March 12, 2004, 2:11 pm - IP Logged

    Aren't you glad it wasn't you, having to receive the prize through an annuity?

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
      Member #9
      March 24, 2001
      19903 Posts
      Offline
      Posted: March 12, 2004, 2:24 pm - IP Logged
      Quote: Originally posted by Jake649 on March 12, 2004



      Darm, the Mass Millions jackpot was won. I was hoping to get a chance to buy some tickets before the jackpot was won. Lottery opportunities like this come by very seldom.

       






      According to tg636's post http://www.lotterypost.com/thread/82616 the jackpot had not been won in over two years, how long does it take for you to buy a ticket?

      RJOh

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


        United States
        Member #379
        June 5, 2002
        11296 Posts
        Offline
        Posted: March 12, 2004, 3:07 pm - IP Logged

        First hit since 6/24/2002...just 2 1/2 months after Hot Lotto began...

          twisted's avatar - underground
          New Jersey
          United States
          Member #2376
          September 25, 2003
          582 Posts
          Offline
          Posted: March 13, 2004, 9:28 am - IP Logged
          Quote: Originally posted by CASH Only on March 12, 2004


          Aren't you glad it wasn't you, having to receive the prize through an annuity?



          CASH Only, I would rather receive annuity paments than not receive any payments at all.
            Avatar
            New Jersey
            United States
            Member #3457
            January 22, 2004
            248 Posts
            Offline
            Posted: March 13, 2004, 10:29 am - IP Logged
            Quote: Originally posted by twisted on March 13, 2004



            Quote: Originally posted by CASH Only on March 12, 2004


            Aren't you glad it wasn't you, having to receive the prize through an annuity?



            CASH Only, I would rather receive annuity paments than not receive any payments at all.


            I'd have to agree with this sentiment.
              Jake649's avatar - scene sunovermountains.jpg

              Canada
              Member #2673
              November 2, 2003
              497 Posts
              Offline
              Posted: March 14, 2004, 6:06 am - IP Logged
              Quote: Originally posted by RJOh on March 12, 2004





              According to tg636's post http://www.lotterypost.com/thread/82616 the jackpot had not been won in over two years, how long does it take for you to buy a ticket?

              RJOh





              RJOh,

              I was waiting for next month when a friend of mine was planning to visit Boston. (By the way, your sarcasm is unnecessary.)

              Good luck,
              Jake

                LottoBuddy's avatar - tails

                Canada
                Member #3722
                February 15, 2004
                46 Posts
                Offline
                Posted: March 16, 2004, 12:37 am - IP Logged

                Quote: Originally posted by Jake649 on March 12, 2004



                Lottery opportunities like this come by very seldom.


                I had devised a lottery pool scheme to use in cases where it is profitable to try to buy all of the available tickets.






                Jake, you have previously calculated the expected payouts for Mass Millions.  At what jackpot amount did the expected payout become greater than 1, taking into account the annuity and about 32% in taxes?  Is there any other lottery approaching a positive expected return?

                When I phoned the State Lottery, the sales agent said that non-residents can buy a Mass Millions season ticket (U$25 for 26 draws).  They charge an additional $4 for non-residents and some credit card issuers charge a cash advance fee.

                What is your "lottery pool scheme"?  Even if a 6/49-type lottery had a form to wheel up to 8 numbers, you would still need to fill out at least 166,474 forms to cover all 13,983,816 possible combinations!

                  Jake649's avatar - scene sunovermountains.jpg

                  Canada
                  Member #2673
                  November 2, 2003
                  497 Posts
                  Offline
                  Posted: March 16, 2004, 8:36 am - IP Logged

                  LottoBuddy,

                  Give me a couple of days to get back to you on your questions.

                  As for the season tickets for the Mass lottery for non-residents, that really surprises me. I am working on another story related to that thread.

                  Good luck,
                  Jake

                    Jake649's avatar - scene sunovermountains.jpg

                    Canada
                    Member #2673
                    November 2, 2003
                    497 Posts
                    Offline
                    Posted: March 16, 2004, 12:35 pm - IP Logged
                    Quote: Originally posted by LottoBuddy on March 16, 2004


                    Jake, you have previously calculated the expected payouts for Mass Millions.  At what jackpot amount did the expected payout become greater than 1, taking into account the annuity and about 32% in taxes?  Is there any other lottery approaching a positive expected return?



                    LottoBuddy,

                    I started working on the formula and could not stop.

                    I produced the following chart for the 649 lottery (includes Mass Millions). The first column is the number of tickets sold (in millions). The second column is the jackpot amount (in millions) required to produce an expected value of 1. The formula assumes that all ticket sales are randomly distributed (that is, quick picks). The jackpot amount is the cash value and after taxes. I only used the value of the jackpot. If the value of the lower tier prizes is used, then a smaller jackpot amount is required to produce an expected value of 1.




                    1


                    14.5


                    2


                    15.0


                    3


                    15.5


                    4


                    16.0


                    5


                    16.6


                    6


                    17.2


                    7


                    17.8


                    8


                    18.4


                    9


                    19.0


                    10


                    19.6


                    11


                    20.2


                    12


                    20.9


                    13


                    21.5


                    14


                    22.2


                    15


                    22.9


                    16


                    23.5


                    17


                    24.1


                    18


                    24.8


                    19


                    25.5


                    20


                    26.2




                    Good luck,
                    Jake