Mega Millions Jackpot

[alms24sebring]

I think in VA its close to 40% (thats a guess). Considering I dont even win scratchoffs, Im not putting too much hope into winning but I will still play.

[4cefed]

I am generally against lotteries due to my black cloud luck that is constantly over my head. So my co-workers all start a pool. There is one other guy we work with that sucks at life that is way to cheap to let go of $5. So I pitched into the pool just because I didn't want to be the only one working with him on Monday.

Call it A-hole insurance in this case.

[C-Kwik]

A lot of people get it wrong, but that's okay.

Think of it this way.
If you buy 1 ticket, the odds are 1 in 175 million of matching every single number
If you buy two, the odds are 2 out of 175 million.

Technically, you do improve your odds by buying additional tickets but that improvement is so microscopic, the odds of you winning it all effectively don't change.

Its a ratio. 2:175 mil is equivalent to 1:87.5 mil. You can look at it in fraction form if you wish: 2/175 mil = 1/87.5 mil. If you wanted to cover the bases and buy every combination, you would reach 175 mil/175 mil. This is equivalent to 1 or 100%. So either way of looking at it works the same. It can appear deceiving if you normalize the numbers, but that's a matter of perception, not math. More sobering might be converting each into percentages (I rounded to 175 million):

1 ticket: 0.0000005714%
2 tickets: 0.000001143%
3 tickets: 0.000001714%

To get 50% odds you need to buy 87.5 million tickets.

Keep in mind the incremental change in percentage is the same between each increment of ticket purchases. Its a simple linear relationship where 1/175 mil is the slope.

The concept of the law of diminishing returns is not far reaching either. If you flip it around the other way and say you decided to purchase all but one combination of numbers, then you would have the same chance of missing that one combination as you would to match the winning numbers with one ticket.

[alms24sebring]

I couldnt do statistics lol but I understand that. As pretty improbable but not impossible to win. There is a guy that won twice. The Guiness world record holds a guy that got struck by lightening 7 times! I just got 5 tickets . And being so cheap to not throw in $5 is stupid. Please slap him.

I got a text alert that some rookie on the Washington Wizards spent $10,000 on tickets...

[DJ_B_Easy]

I dont think that is accurate.

Ratios are meant to show relationships to one another, not odds and probabilities.
If you say that a 2/176M is the same as a 1/87.5M, then it implies that there are only 87.5M probabilities or possible outcomes in the second scenario. However, there are in fact 176M probabilities, and your chance for that particular ticket from the lot of 2 is still 1/176M.

[RCA]

This is incorrect.

The odds haven't changed, for the actual odds to change the amount of combinations would have to be changed by increasing or decreasing the numbers drawn from the pool and/or the amount of numbers required to win.

If you buy two tickets the odds of each ticket do not change! Instead of dropping to 1:87.5 million, what you have instead is two chances at 1:175 million, these are not the same thing.

Ahh yess I see your point.

175 million are the possibilities of number combinations and so getting two tickets won't change that. So my question about diminishing returns is way off.

But how about this...

Im buying one for sure. Although that much money would scare me a bit.

Historically the S&P 500 returns about 9.3% a year...
Taking your lump sum and investing in an S&P index would net you something like (depending on tax situation) $27 million a year. Imaging living off of (capital gains is taxed @ 15%) $22.95 million dollars a year.

[DJ_B_Easy]

Yeah,then imagine living in fear when your loved ones go to buy a gallon of milk.

[s0m3th1ngAZ]

Our entire squadron is in on this...I donated $5 to the cause.

[sndtgr08]

Yeah,then imagine living in fear when your loved ones go to buy a gallon of milk.

HAHAHAH I was telling my boss today that if I won I would quit instantly and pack my car and move out of state to a family memebrs home untill i got everything worked out! He looked at me like I was crazy. You will become an instant $462,000,000 target.

In the last 10 years I think there have been less then 100 Jackpot winners. I wonder how many tickets have been sold.

[bigbadberry3]

Not a target

[RCA]

I hit the power ball...

I'm sitting on a cool $2

[alms24sebring]

Thats a free doublecheeseburger WITH change. booyah

[DJ_B_Easy]

Winning ticket sold in Maryland...it was probably a f*** senator or congressman.

[Bmore-coupe]

Winning ticket sold in Baltimore County. Praying that it is someone that I know...

[alms24sebring]

wow congrats you bastard. Im sure Ill hear all about this tomorrow.

[Bmore-coupe]

Baltimore is a big place, but I have lived here my whole life....the chances aren't good, but there is a chance.

[alms24sebring]

Its probly 32709462 times more likely that you know them than actually winning it

[RCA]

http://cockeyed.com/citizen/p0ker/lotte ... tor100.php

[C-Kwik]

I dont think that is accurate.

Ratios are meant to show relationships to one another, not odds and probabilities.
If you say that a 2/176M is the same as a 1/87.5M, then it implies that there are only 87.5M probabilities or possible outcomes in the second scenario. However, there are in fact 176M probabilities, and your chance for that particular ticket from the lot of 2 is still 1/176M.

Both are accurate as they are mathematical representations. Again, its an issue of perception. If you view it as a fraction the number is still the same and both represent the same percentage of chance of matching the numbers. If you want to calculate the number of combinations of numbers there are, then 175 million is absolute. Look at it this way. 175/175 is still one or 100%. 87.5/175 is 1/2 or 0.5 or 50%.

[Bubba1]

Well I lost, so I'm out $1. I wonder how Chris Singleton (of the Washington Wizards) fared after tweeting that he was planning to buy 10,000 tickets.

[leesredgt]

I won 10$ still lost 5$ though.

[Jesda]

I didnt buy a ticket but if I won the lottery I wouldn't buy a car. I'd be so busy traveling around the world that most of my time would be in trains, planes, or rental vehicles.

[alms24sebring]

Same here. But for home home (which would be within 15 miles of my home now), the very first thing I would ever buy with the money is a GTR, probly white.

I would never buy a Veyron or an Enzo either just fyi, altho I would like to drive both very much.

[Jesda]

Same here. But for home home (which would be within 15 miles of my home now), the very first thing I would ever buy with the money is a GTR, probly white.

I would never buy a Veyron or an Enzo either just fyi, altho I would like to drive both very much.

Indeed. I'd go to Vegas and use one of those high-end car rental services for a week at a time. All the thrills without the hassle. After all, no one marries a hooker.

[MinisterofDOOM]

I would never buy a Veyron or an Enzo either just fyi, altho I would like to drive both very much.

I wouldn't buy those cars, either. I'd buy an MP4-12C, and F12 Berlinetta, an FF, and an XJL Supersport for my beater.

And of course I would hunt down a mint-condition silver 250 GTE.

[alms24sebring]

hmm my beater would have be one of those rare low milage 98 240SE's, 5speed. BONE stock. See'em in the classifieds every now and then.

[DJ_B_Easy]

I dont think that is accurate.

Ratios are meant to show relationships to one another, not odds and probabilities.
If you say that a 2/176M is the same as a 1/87.5M, then it implies that there are only 87.5M probabilities or possible outcomes in the second scenario. However, there are in fact 176M probabilities, and your chance for that particular ticket from the lot of 2 is still 1/176M.

Both are accurate as they are mathematical representations. Again, its an issue of perception. If you view it as a fraction the number is still the same and both represent the same percentage of chance of matching the numbers. If you want to calculate the number of combinations of numbers there are, then 175 million is absolute. Look at it this way. 175/175 is still one or 100%. 87.5/175 is 1/2 or 0.5 or 50%.

But buying 2 tickets does not increase your odds of winning to 1/2 or 50%. It increases them to 2 out of 176 million.

[RCA]

If there's not a winner, maybe we'll see a $1 billion prize for next Tuesday.

I was really hoping for this! It would have been absolutely ridiculous...

Quick, some one make a prediction about when the Mega Millions will reach $1 billon...

• I proclaim that in the year 2028 there will be a $1 billion dollar lotto!

[bigbadberry3]

2012

[Bubba1]

And of course I would hunt down a mint-condition silver 250 GTE.

As info, this months Hemmings has an article about the 250GTE. It's value is climbing and accelerating. They're averaging $155K now. A pristine one might fetch $250K. Not bad for a small 4 seater that sold for $12,500 in 1961.