Powerball... Odds of a shared jackpot?

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Poll
5 votes (25%)
1 vote (5%)
1 vote (5%)
7 votes (35%)
3 votes (15%)
3 votes (15%)

20 members have voted

November 28th, 2012 at 11:55:22 AM permalink
tringlomane
Member since: Aug 25, 2012
Threads: 2
Posts: 3905
Quote: FinsRule
I have a real hard time believing there won't be a winner. 25% seems awfully high. I read that they are selling 100K tickets PER MINUTE.


It's correct if they are correct on their estimate.

And if they are selling 100K per minute for the next 8 hours, that's only 48M tickets. I'm guessing that number included dead periods (in missouri, it's illegal to buy lottery tickets from 2 to 5 am, iirc)

The current jackpot estimate implies there are roughly 230M tickets that will be sold.

No winners given random tickets is:

Probability of not winning raised to the power of the number of tickets sold.

(175,223,509/175,223,510)^230,000,000 = 0.269
November 28th, 2012 at 1:27:13 PM permalink
bushman
Member since: Feb 17, 2010
Threads: 6
Posts: 145
Quote: tringlomane
It's correct if they are correct on their estimate.

And if they are selling 100K per minute for the next 8 hours, that's only 48M tickets. I'm guessing that number included dead periods (in missouri, it's illegal to buy lottery tickets from 2 to 5 am, iirc)

The current jackpot estimate implies there are roughly 230M tickets that will be sold.

No winners given random tickets is:

Probability of not winning raised to the power of the number of tickets sold.

(175,223,509/175,223,510)^230,000,000 = 0.269


I am with you and what you said. My question to you is how and where did you find the information on how the monies spent on the game are broken down? I have not found boo on the Powerball site.
Never count your winnings at hour 23 of a 24-hour drive.
November 28th, 2012 at 2:07:42 PM permalink
slyther
Member since: Feb 1, 2010
Threads: 13
Posts: 678
got my 1 ticket
November 28th, 2012 at 2:11:28 PM permalink
Buzzard
Member since: Oct 28, 2012
Threads: 85
Posts: 6401
Quote: slyther
got my 1 ticket


That's all it takes.
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
November 28th, 2012 at 2:13:05 PM permalink
tringlomane
Member since: Aug 25, 2012
Threads: 2
Posts: 3905
Quote: bushman
I am with you and what you said. My question to you is how and where did you find the information on how the monies spent on the game are broken down? I have not found boo on the Powerball site.


Well, I did make one assumption since I failed to find it in writing, but it's fairly common with major lotteries, and I do vaguely remember reading this fact applied to Powerball long ago. I assumed 50% of sales go to the prize pool (i.e. $1 for every $2 ticket). The prizes and odds are listed here: http://www.powerball.com/powerball/pb_prizes.asp

So if you do all the math, you'll find that prizes that aren't the jackpot are worth 36.05 cents. So 63.95 cents go to the jackpot. Then I looked at the difference in the cash values between the 2 jackpots $147M divide this by 0.6395 to get 230M tickets.
November 28th, 2012 at 3:46:10 PM permalink
newuser
Member since: Nov 28, 2012
Threads: 0
Posts: 3
anyone know what the odds drop if i playmy numbers with the 35 powerball numbers?
November 28th, 2012 at 3:47:37 PM permalink
newuser
Member since: Nov 28, 2012
Threads: 0
Posts: 3
Quote: newuser
anyone know what the odds drop if i playmy numbers with the 35 powerball numbers?
November 28th, 2012 at 3:50:25 PM permalink
newuser
Member since: Nov 28, 2012
Threads: 0
Posts: 3
do you know the odd if i play all 35 powerball numbers with my 5 regular numbers
November 28th, 2012 at 3:54:30 PM permalink
tringlomane
Member since: Aug 25, 2012
Threads: 2
Posts: 3905
Quote: newuser
do you know the oddsin i play all 35powerball numbers withmy 5 regular numbers


35 in 175,223,510 or 1 in 5,006,386. You will also win $34M more if you would be lucky enough to hit your 5 white ball choices.
November 28th, 2012 at 4:11:42 PM permalink
Buzzard
Member since: Oct 28, 2012
Threads: 85
Posts: 6401
Don't waste your money. I just bought the winning ticket.
Shed not for her the bitter tear Nor give the heart to vain regret Tis but the casket that lies here, The gem that filled it Sparkles yet
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