*Edit: https://wizardofvegas.com/forum/gambling/other-games/13986-powerball-at-550-million/ This thread should get you started and give you some ideas.
Quote: DeMangoIf you had that money why gamble? Buy a casino as your personal ATM.
I have often wondered if I would gamble that much money, IF I had it. I am certain I would continue to gamble in LV. Probably would never play the lottery, though.
Quote: mds$400,000,000 up for grabs... It is a 1:175,000,000 chance to win. What if I take $100,000,000 and buy tickets. Would that be an advantage? Would my odds be that much better? Is it worth the potential $300,000,000 in profit?
$400,000,000 in annuity payments is about $228,000,000 in 2014 dollars. Taxes are about $92,000,000, leaving about $136,800,000. So, even if you don't have to split the jackpot with anyone, you'd be playing at a disadvantage.
Quote: rdw4potus$400,000,000 in annuity payments is about $228,000,000 in 2014 dollars. Taxes are about $92,000,000, leaving about $136,800,000. So, even if you don't have to split the jackpot with anyone, you'd be playing at a disadvantage.
Sadly the lower hit payouts don't change the math much. That is shown below.
http://www.powerball.com/powerball/pb_prizes.asp
(ignoring taxes other than those on the jackpot)
Type of hit | Payout | Odds are 1 in | Value |
---|---|---|---|
5w+1r | 136,800,000 | 175,223,510 | 0.7807 |
5w | 1,000,000 | 5,153,633 | 0.1940 |
4w+1r | 10,000 | 648,976 | 0.0154 |
4w | 100 | 19,087 | 0.0052 |
3w+1r | 100 | 12245 | 0.0082 |
3w | 7 | 360.14 | 0.0194 |
2w+1r | 7 | 706.43 | 0.0099 |
1w+1r | 4 | 110.81 | 0.0361 |
1r | 4 | 55.41 | 0.0722 |
And the sum of the last column is 1.1411 (<2, hence sadness)
Quote: rdw4potus$400,000,000 in annuity payments is about $228,000,000 in 2014 dollars. Taxes are about $92,000,000, leaving about $136,800,000. So, even if you don't have to split the jackpot with anyone, you'd be playing at a disadvantage.
Thats right. Its a phony number.
Quote: mds$400,000,000 up for grabs... It is a 1:175,000,000 chance to win. What if I take $100,000,000 and buy tickets. Would that be an advantage?
How long would it take to buy 50,000,000 tickets? Assuming the draws are four days apart (Saturday to Wednesday, in this case), and assuming you could purchase tickets for the full 96 hours, that would still require about 145 tickets (well, sets of numbers) per second.