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Wizardofnothing
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January 11th, 2016 at 7:22:23 PM permalink
Yes plus gold eagles and a few watches, we use to go out and to the casinos on Fridays in Ac so always needed cash and the bank limited / I think in thurs and Friday's but maybe everyday a it was convenient because it was right in the concourse when you came down out of the elevators and could grab the cash and hop in the limo to the shore... In a million years never expected them to be toppled/ especially after they tried in 93 and had limited success..... That was a really rough lesson- luckily at the time it wasn't crippling
No longer hiring, don’t ask because I won’t hire you either
Mission146
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January 11th, 2016 at 8:59:54 PM permalink
Quote: Wizard


Let me pose this question to the forum. Please try to answer honestly. How many tickets would you buy at a jackpot of $500 million and also $1 billion?



I bought zero and am buying zero. I have a piece of two tickets, though. My ex-wife wanted me to grab her two on my way to drop the kids off and I told her I would for 10% of the jackpot if she hits it. I get 5% if she hits the second best prize.

I also went into two gas stations for my girlfriend who wanted one from OH, one from PA and one from WV, for whatever reason. For my services I get 25% in the event she hits the top jackpot.

My Mom also picked up five or six, she says I would get, "At least ten million," if she hits the jackpot. I told her I could not promise the same because I'm not playing, but she said that's fine because she won't win anyway.

So, I'm free rolling on a percentage or fixed amount on ten tickets, but buying zero.
https://wizardofvegas.com/forum/off-topic/gripes/11182-pet-peeves/120/#post815219
Wizardofnothing
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January 11th, 2016 at 9:03:09 PM permalink
Effing hysterical
No longer hiring, don’t ask because I won’t hire you either
GWAE
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January 12th, 2016 at 2:40:04 AM permalink
Quote: Mission146

I bought zero and am buying zero. I have a piece of two tickets, though. My ex-wife wanted me to grab her two on my way to drop the kids off and I told her I would for 10% of the jackpot if she hits it. I get 5% if she hits the second best prize.

I also went into two gas stations for my girlfriend who wanted one from OH, one from PA and one from WV, for whatever reason. For my services I get 25% in the event she hits the top jackpot.

My Mom also picked up five or six, she says I would get, "At least ten million," if she hits the jackpot. I told her I could not promise the same because I'm not playing, but she said that's fine because she won't win anyway.

So, I'm free rolling on a percentage or fixed amount on ten tickets, but buying zero.



I hope your state isn't like PA, any tickets bought out of state are subject to your own state taxes.
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rxwine
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January 12th, 2016 at 4:39:45 AM permalink
Quote: GWAE

I hope your state isn't like PA, any tickets bought out of state are subject to your own state taxes.



So, can you wait to cash a ticket until you move out of a state and become a resident in a more favorable state?

Don't you usually have a year to claim a prize.
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EdCollins
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January 12th, 2016 at 5:28:29 AM permalink
Quote: rxwine

So, can you wait to cash a ticket until you move out of a state and become a resident in a more favorable state?

Don't you usually have a year to claim a prize.

I don't think you can move out of a state and become a resident in a more favorable state. If so, wouldn't everyone be doing that?

It varies from state to state on how soon you have to claim the prize. Some states allow just 90 days.
SOOPOO
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January 12th, 2016 at 7:10:45 AM permalink
Both Hillary and Bernie would drastically increase taxes on the rich. For Bernie I already qualify as rich, for Hilary she wants to gouge those making $5million or more, using the bullshit 'fair share' propaganda. Without any question I would take the lump sum, as it is not inconceivable that future Democrat regimes could return to taxing multimillion dollar payouts or incomes at 70+%.

When my GF and I were musing about what we (mostly she) would do with the money, she started with buying me a nice car, then a nicer house, then she also mentioned the need for security guards for her daughters. I do not want to win a jackpot that will make me think I need security guards.

At work, almost all of the people that are already pretty well off, said they would PREFER a much smaller jackpot if it could be done anonymously, say $30 million instead of a billion.

I didn't buy any tickets, but did give $2 to the pool at work. Probably around 80 people. So 1/80 of the billion is around 12 million. Perfect.....
DRich
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January 12th, 2016 at 7:28:25 AM permalink
Quote: JohnnyQ



"With each $2 Powerball ticket purchased in California, about 80 cents goes toward education... The money is divided among K-12 schools and community colleges and universities".



Read the book "How to Lie With Statistics"
At my age, a "Life In Prison" sentence is not much of a deterrent.
DMSCR
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January 12th, 2016 at 8:24:22 AM permalink
Quote: SOOPOO

I didn't buy any tickets, but did give $2 to the pool at work. Probably around 80 people. So 1/80 of the billion is around 12 million. Perfect.....



That is IF you get the jackpot. Anything less it will be a bunch of seals fighting over a grape. Then all the greedy small minded pettiness runs amok.
Ibeatyouraces
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January 12th, 2016 at 9:16:33 AM permalink
Now at $1.5 billion with cash option at $930 million.
DUHHIIIIIIIII HEARD THAT!
HowMany
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January 12th, 2016 at 9:34:31 AM permalink
I feel sorry for whoever wins this thing. They will be miserable for the rest of their lives.
Joeman
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January 12th, 2016 at 9:39:20 AM permalink
Quote: SOOPOO

When my GF and I were musing about what we (mostly she) would do with the money, she started with buying me a nice car, then a nicer house, then she also mentioned the need for security guards for her daughters. I do not want to win a jackpot that will make me think I need security guards.

At work, almost all of the people that are already pretty well off, said they would PREFER a much smaller jackpot if it could be done anonymously, say $30 million instead of a billion.

After reading about the plights of some of the less fortunate big jackpot winners, I had the same thought. So yesterday, I bought 1 PB ticket to make the wife happy, and 1 Lotto ticket ($31M jackpot) for me!
"Dealer has 'rock'... Pay 'paper!'"
standbymyman
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January 12th, 2016 at 9:50:58 AM permalink
Quote: teddys

Do you have the Wizard's old job with the SSA?

But true, you could probably take the lump sum and give it to the guys at Brown Brothers Harriman and they could structure a nice investment trust for you that would do far better than the annuity.




Yes. or maybe lose your ash for you.
IndyJeffrey
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January 12th, 2016 at 9:52:57 AM permalink
Quote: Wizard



Let me pose this question to the forum. Please try to answer honestly. How many tickets would you buy at a jackpot of $500 million and also $1 billion?



I bought 1 ($2) for last Sat and I will buy 1-2 ($2-4) for Wed evening. I don't know why, but if it were $1/play, would probably buy more.
coilman
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January 12th, 2016 at 11:36:14 AM permalink
Tickets are now available in Windsor FOR FREE

http://windsorstar.com/storyline/windsor-strip-club-entices-customers-with-free-powerball-tickets
Romes
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January 12th, 2016 at 12:04:09 PM permalink
Quote: coilman

Tickets are now available in Windsor FOR FREE

http://windsorstar.com/storyline/windsor-strip-club-entices-customers-with-free-powerball-tickets

They want you to remember when you win 1 billion... where you got the ticket. That way you'll come back and MAKE IT RAIN on "dem ho's" with a couple mill.
Playing it correctly means you've already won.
DMSCR
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January 12th, 2016 at 12:44:41 PM permalink
Quote: Wizard

Let me pose this question to the forum. Please try to answer honestly. How many tickets would you buy.



I spent $10. So five shots. The chances of winning? I get a better chance of hitting the tie and the two pair bets for two hours at the bac tables. LOL.
rxwine
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January 12th, 2016 at 12:58:56 PM permalink
The most secure Ping Pong balls in the world. (one hopes)

The sets of lottery balls are kept in a double-locked vault that is set with an alarm and sealed. Three people -- including a Florida Lottery Security Officer who has the code to disarm the alarm, a Multi-State Lottery Association official with a key and someone from an independent accounting firm who has a second key -- are required to access the drawing machines and ball sets, Barnes explained. Their actions are monitored on video.

Before any ball sets are put into service, they are measured, weighed and density-tested at a state lab. There are also X-ray tests performed to see if there are any internal issues with the balls,

After those tests are completed, a second test is performed and the results are compared to statistical analysis, and only once those results are in will the balls be put into service.

Once approved, the ball sets typically last for 2-4 years, with an additional round of tests run every year, before being taken out of circulation.

The ball sets and machines that will be used in any given Powerball drawing are randomly selected before the big draw -- a primary and backup set for each color -- and pre-tests are completed to make sure that the machine are "operating randomly


http://abcnews.go.com/US/security-scenes-big-powerball-drawing/story?id=36246467
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Ayecarumba
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January 12th, 2016 at 1:15:39 PM permalink
Quote: rxwine

The most secure Ping Pong balls in the world. (one hopes)

The sets of lottery balls are kept in a double-locked vault that is set with an alarm and sealed. Three people -- including a Florida Lottery Security Officer who has the code to disarm the alarm, a Multi-State Lottery Association official with a key and someone from an independent accounting firm who has a second key -- are required to access the drawing machines and ball sets, Barnes explained. Their actions are monitored on video.

Before any ball sets are put into service, they are measured, weighed and density-tested at a state lab. There are also X-ray tests performed to see if there are any internal issues with the balls,

After those tests are completed, a second test is performed and the results are compared to statistical analysis, and only once those results are in will the balls be put into service.

Once approved, the ball sets typically last for 2-4 years, with an additional round of tests run every year, before being taken out of circulation.

The ball sets and machines that will be used in any given Powerball drawing are randomly selected before the big draw -- a primary and backup set for each color -- and pre-tests are completed to make sure that the machine are "operating randomly


http://abcnews.go.com/US/security-scenes-big-powerball-drawing/story?id=36246467



How many "test draws" are required to verify the machine is "operating randomly"? Suppose the first test draw results in 1-2-3-4-5-6, and second 61-21-31-41-51-11? How do you tell the difference between a truly random draw and one that isn't?
Simplicity is the ultimate sophistication - Leonardo da Vinci
CrystalMath
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January 12th, 2016 at 2:01:49 PM permalink
When I was testing slot machines at GLI, one time I cleared the ram on the machine and set up a new game. The first spin, I hit the top award. I had to ram clear the machine and set it up new many more times to make sure I just hit it randomly. Likewise, if I drew 1,2,3,4,5 from a new batch of lottery balls, I'd be skeptical.
I heart Crystal Math.
tringlomane
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January 12th, 2016 at 2:10:28 PM permalink
Quote: CrystalMath

When I was testing slot machines at GLI, one time I cleared the ram on the machine and set up a new game. The first spin, I hit the top award. I had to ram clear the machine and set it up new many more times to make sure I just hit it randomly. Likewise, if I drew 1,2,3,4,5 from a new batch of lottery balls, I'd be skeptical.



Too bad you weren't playing it for money! You remember the probability of hitting the top prize?
CrystalMath
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January 12th, 2016 at 3:17:05 PM permalink
Quote: tringlomane

Too bad you weren't playing it for money! You remember the probability of hitting the top prize?



I don't remember exactly, but it was very low; less than 1 in 100,000. It was rare to see any games with top award odds much better than 1 in 17 million.
I heart Crystal Math.
runspotwalk
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January 12th, 2016 at 3:40:54 PM permalink
Going to buy my one ticket now. Sorry fellows, I intend to win. But I will throw one hell of a party in Vegas for all WOV regulars,
plus Alan and Ace . and the kid who rolled 18 yo's in a row.
GWAE
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January 12th, 2016 at 3:46:27 PM permalink
I am for $20
Expect the worst and you will never be disappointed. I AM NOT PART OF GWAE RADIO SHOW
DRich
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January 12th, 2016 at 3:59:33 PM permalink
We are all going to be rich!!! Lol

At my age, a "Life In Prison" sentence is not much of a deterrent.
Wizard
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January 12th, 2016 at 4:30:25 PM permalink
Quote: DRich



I actually overheard somebody saying this yesterday. It made the hair on the back of my neck stand up.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
Asswhoopermcdaddy
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January 12th, 2016 at 4:42:49 PM permalink
Quote: DRich

We are all going to be rich!!! Lol



That math is so bad it makes my eyes hurt.
Deucekies
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January 12th, 2016 at 5:10:03 PM permalink
The best reply I saw to this was "$1.3 billion / 300 million = $4.33, enough to buy EVERY SINGLE AMERICAN a calculator."
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djatc
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January 12th, 2016 at 5:14:00 PM permalink
Quote: DRich

We are all going to be rich!!! Lol



I can buy 2 McPick 2's

even with our 8.1% tax I'd still have 1 penny left!

Just enough money to tip a housekeeper when I stay in the luxury suite.
"Man Babes" #AxelFabulous
rudeboyoi
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January 12th, 2016 at 5:15:04 PM permalink
Quote: Wizard

Quote: DRich



I actually overheard somebody saying this yesterday. It made the hair on the back of my neck stand up.



One of my roomies believed this lol. They also believe the way to win at keno is to play a specific combination of numbers they watched on a video on youtube.
Wizard
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January 12th, 2016 at 5:49:17 PM permalink
Okay, I know math isn't everybody's cup of tea. However, does it make logical sense you could divide up the jackpot and every American would get 4.33 million? Does that sound like what the average American bought in tickets -- not counting the state's share? Don't people at least apply a test of common sense before they accept whatever they hear as truth?

"What luck for rulers that men do not think." -- Adolf Hitler.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
kewlj
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January 12th, 2016 at 5:54:14 PM permalink
Quote: Wizard



I actually overheard somebody saying this yesterday. It made the hair on the back of my neck stand up.



You should shave those hairs. :)
JohnnyQ
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January 12th, 2016 at 6:50:19 PM permalink
Quote: Wizard

Okay, I know math isn't everybody's cup of tea.

First of all I don't think people are scrutinizing stuff like this for errors when they see it, they assume that the poster had a valid statement to share. And secondly, it was cleverly designed to mix the billions and the millions on two different rows.

OR, just as likely I guess, is that the guy who first created this is in fact a complete idiot.

In a way it reminds me of the interview about a month ago with Bill O'Reilly and Donald Trump. O'Reilly called Trump on re-tweeting one of those made-up statistics on racial violence. Trump basically said something to the effect of Hey I see lots of these things all day long, what am I supposed to do, Fact Check them all ? O'Reilly told him YES, you're running for President, you do need to be sure that what you are saying is factual !
There's emptiness behind their eyes There's dust in all their hearts They just want to steal us all and take us all apart
Wizard
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January 12th, 2016 at 6:58:43 PM permalink
Quote: JohnnyQ

First of all I don't think people are scrutinizing stuff like this for errors when they see it, they assume that the poster had a valid statement to share.



People should be skeptical of everything.

Quote:

O'Reilly told him YES, you're running for President, you do need to be sure that what you are saying is factual !



It isn't often I say this, but O'Reily was absolutely right.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
Asswhoopermcdaddy
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January 12th, 2016 at 7:06:08 PM permalink
Nice article on trying to print every combination:

http://www.businessinsider.com/buying-every-powerball-ticket-2016-1
BobE
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January 12th, 2016 at 7:38:11 PM permalink
Quote: Asswhoopermcdaddy

Nice article on trying to print every combination:


Actually, they have the "Likelihood of having a split pot" wrong. If 600 million tickets are sold, there isn't a "13% chance of no other winners". Rather, there is a 13% chance of NO WINNERS, 26% of 1, 27% of 2, 18% of 3, 9% of 4, 4% of 5, 1% of 6, ...

Deucekies
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January 12th, 2016 at 8:04:32 PM permalink
Devil's Advocate: Here's an article from someone suggesting the annuity is the way to go.

http://nyti.ms/1OoZLoL
Casinos are not your friends, they want your money. But so does Disneyland. And there is no chance in hell that you will go to Disneyland and come back with more money than you went with. - AxelWolf and Mickeycrimm
Ayecarumba
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January 12th, 2016 at 8:37:50 PM permalink
They tried to jury rig the highway billboard by my house to display the correct estimated jackpot instead of "999". Unfortunately the decimal in 1.5 billion is not clear, making the prize look like 15 billion.

Assuming the physical limit of printing tickets is about 600 million in the space between draws, and that many of those sales will include repetitious variations of the same 31 and under birthday numbers, there appears to be a pretty steady 16% chance that no ticket will be an exact match; even with a 1. 5 billion dollar prize.
Simplicity is the ultimate sophistication - Leonardo da Vinci
Wizard
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January 12th, 2016 at 8:53:15 PM permalink
Quote: Wizard

That said, before considering taxes, I show you need to be able to beat an interest rate of 2.84% for the lump sum to be the better choice.



Quote: New York Times

Taxes aside, you’ll probably quibble with the pretax rate of return on the Powerball annuity. Effectively, it’s like investing in bonds that pay 2.843 percent interest.



Nice to have that figure confirmed. However, I think the author should have also considered the long term capital gains tax. It would have only helped defend his point.

Article: Dear Powerball Winner: Take Our Advice and Take the Annuity.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
GWAE
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January 13th, 2016 at 3:35:57 AM permalink
Why does it have to be one or the other? Why can't we just take the annuity for the 2.83, then when I get my 20 million make a game plan with that. I would plan my entire years spending, maybe a little emergency money, and invest the rest. If I invest 5 million a year in 401k type plan with part being low, medium, and high wouldn't we come out better in the end?
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TwoFeathersATL
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January 13th, 2016 at 4:19:52 AM permalink
I think the winner can prolly get a secured loan for anything beyond 20 mill that might come up immediately. I could spend a couple mill in a hurry. Chewing up the rest of 20 would take a little longer ;-)

<edit> Truthfully, once the tax bandits got theirs, the legal advise bandits and financial planning bandits got theirs, I'd be standing there still in my old worn Levi's wondering how come I don't have enough cash to play a night in the High Limit room....and where's all the H & B?
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F
CrystalMath
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January 13th, 2016 at 5:46:22 AM permalink
Quote: BobE

Actually, they have the "Likelihood of having a split pot" wrong. If 600 million tickets are sold, there isn't a "13% chance of no other winners". Rather, there is a 13% chance of NO WINNERS, 26% of 1, 27% of 2, 18% of 3, 9% of 4, 4% of 5, 1% of 6, ...



They are the same. If you check your numbers and you're a winner, there are still 599,999,999 tickets out there which have a 13% chance of producing no winners.
I heart Crystal Math.
Romes
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January 13th, 2016 at 6:54:51 AM permalink
Quote: Wizard

People should be skeptical of everything...

I don't know if I believe this...
Playing it correctly means you've already won.
teliot
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January 13th, 2016 at 3:08:49 PM permalink
Quote: Romes

I don't know if I believe this...

Recursive disagreement ...

My favorite (incorrect) lottery-winning odds metaphor: "... replace your GPS with a monkey. The professor says your chances of reaching your destination are better with the monkey than winning the Powerball."
Climate Casino: https://climatecasino.net/climate-casino/
rxwine
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January 13th, 2016 at 3:43:42 PM permalink
Saw more lines. Can't figure out why you'd wait until the last moment, if you're planning to get a ticket since Sunday.
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rxwine
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January 13th, 2016 at 3:50:53 PM permalink
Has any casino offered a free weeks stay to the winner(s)? (doesn't seem like a bad promotion idea) The media probably give it free publicity just reporting it.
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Wizard
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January 13th, 2016 at 4:06:30 PM permalink
Quote: rxwine

Has any casino offered a free weeks stay to the winner(s)? (doesn't seem like a bad promotion idea) The media probably give it free publicity just reporting it.



I think it would look bad -- like you're trying to trick the dumb rube who won into throwing his money away.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
SOOPOO
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January 13th, 2016 at 4:09:55 PM permalink
Quote: Wizard

I think it would look bad -- like you're trying to trick the dumb rube who won into throwing his money away.



Mike... you would be misinterpreting the casino's motives. They would just be offering a peaceful comfortable room to help the lucky winner figure out what investment options are available to him. And until the billion is made liquid, it is such a kind gesture to give the winner that free room.....
BobE
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January 13th, 2016 at 5:23:06 PM permalink
Quote: CrystalMath

They are the same. If you check your numbers and you're a winner, there are still 599,999,999 tickets out there which have a 13% chance of producing no winners.



You may be right. It's been about 50 years since my college statistics classes. However, my theory is this:

The original pool had 600 million entries. The probabilities were based on that entire pool. You just removed 1 entry from that pool which was a winner. The remainder of the pool now has a distribution that is skewed from the original. The probability that there were no winners in the original pool is now 0. So that 13% probability has to be removed. So we're left with determining a revised breakdown of the 87% probability that remains. Because of the large size of the pool I would guess that prorating the remaining probabilities would be close to correct. That would mean that the probability of no more winners would be the original probability of 1 winner (26%) divided by the remaining probability (87%) which equals about 30%.

However, I can't offer any proof.
teliot
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January 13th, 2016 at 5:51:01 PM permalink
Old joke. Not as funny as it once was, for obvious reasons.

A mathematician was really frightened that if he flew then there would be a bomb on the plane. He learned that roughly 1 out of every 1 million flights had a bomb on it. So, he hatched a plan. Sure enough, as he was trying to smuggle a bomb onto the plane, he got caught. When asked why he tried to smuggle on a bomb, he said it was for his own safety. He said, "if the odds are 1-in-1,000,000 that there will be a bomb on a plane, then the odds are 1-in-1,000,000,000,000 that there will be two bombs on the plane! Bringing a bomb on board makes the flight one million times safer!"
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