Poll

30 votes (48.38%)
7 votes (11.29%)
15 votes (24.19%)
4 votes (6.45%)
6 votes (9.67%)

62 members have voted

djatc
djatc
Joined: Jan 15, 2013
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January 14th, 2016 at 12:46:12 PM permalink
Quote: Romes

$3 million



How do you figure?
"Man Babes" #AxelFabulous
PlayYourCardsRight
PlayYourCardsRight
Joined: Dec 29, 2011
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January 14th, 2016 at 1:23:24 PM permalink
Poor bastards.... their ticket from this past Saturday matched last night's numbers exactly.

http://www.metro.us/new-york/video-new-jersey-restaurant-employees-mistakenly-believe-they-won-powerball/zsJpam---EcM7yiy9Ruwg/
Romes
Romes
Joined: Jul 22, 2014
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January 14th, 2016 at 2:32:20 PM permalink
Quote: djatc

How do you figure?

I'm already counting that it'll get taxed as income, so let's say $2 million. $500,000 for a new house, maybe a car upgrade, new TV's or furniture (minimal things). Put the other $1.5 million in the bank or other low risk investment options and if you can get even 4-5% that's 60-80k per year, which I'm sure a decent accountant or tax lawyer could make sure you get the bulk of through capital gains taxing (20%). If you can't live off ~70k per year, you're doing something wrong.

Personally though with what I know now (this was always my plan when I was younger) I'd use a good chunk of it as a BR for more lucrative AP plays. It takes money to make money...
Playing it correctly means you've already won.
Wizard
Administrator
Wizard 
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January 14th, 2016 at 5:30:07 PM permalink
For everybody saying money doesn't buy happiness, please send me as much as you don't need.
It's not whether you win or lose; it's whether or not you had a good bet.
Dodsferd
Dodsferd
Joined: Jun 10, 2015
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January 14th, 2016 at 5:40:02 PM permalink
Quote: Wizard

For everybody saying money doesn't buy happiness, please send me as much as you don't need.



Money may not buy happiness, but it is much more comfortable to cry in a Lamborghini than on a bicycle.
This feeling is heavy, makes my body ache and I'm ready; To fall into the sky and I see now, the reason why. My heart is heavy, takes me to a place I can't breathe. Only then I know why I see the warning sign.
Wizard
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Wizard 
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January 14th, 2016 at 5:49:42 PM permalink
Quote: Dodsferd

Money may not buy happiness, but it is much more comfortable to cry in a Lamborghini than on a bicycle.



I'd rather cry on a bicycle.
It's not whether you win or lose; it's whether or not you had a good bet.
EvenBob
EvenBob
Joined: Jul 18, 2010
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January 14th, 2016 at 7:55:37 PM permalink
Quote: Wizard

I'd rather cry on a bicycle.



While juggling and cubing..
"It's not enough to succeed, your friends must fail." Gore Vidal
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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January 15th, 2016 at 5:28:09 AM permalink
Quote: Dodsferd

Money may not buy happiness, but it is much more comfortable to cry in a Lamborghini than on a bicycle.

I believe there are studies showing people with money are generally happier. If someone has legitimate depression there's no amount of money that will help.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Wizard
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Wizard 
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January 15th, 2016 at 6:51:09 AM permalink
I was taught in economics class, and believe, that happiness is a function of log(wealth).
It's not whether you win or lose; it's whether or not you had a good bet.
Wizard
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Wizard 
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January 15th, 2016 at 7:35:46 AM permalink
Until the Jan 6, 2016 drawing when the jackpot closed at $529 million, I maintained that the optimal jackpot size to maximize expected value was about $650 million. If it got higher, it would induce too much demand and you would have to split a winning jackpot with too many competitors. This was based on my assumption of an exponential relationship between jackpot size and sales.

As I've said in other posts, this relationship has its limits. Here is my new formula for jackpot sales (in millions) by jackpot size (in millions):

If jackpot<529, then 7.9043*exp(0.005554*jackpot), else 419.88*ln(jackpot)-2450.5)

I'm not crazy about the "if" statement but am open to other specific ideas.

Given my new formula, I show no relative maximum. The value just keeps going up with jackpot size. At 5.85 billion, it actually turns positive after considering taxes. However, I have a feeling a may have to make adjustments to my curve if it ever gets close to that amount.

No particular question. Just wanted to announce that I have issued a formal correction. Pass the crow and the humble pie.
It's not whether you win or lose; it's whether or not you had a good bet.

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