Powerball Odds
January 9th, 2016 at 11:26:14 PM
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So, question here: if the odds of winning the Powerball is 1 in 292,200,000 wouldn't it make sense to buy $584,400,000 worth of tickets ($2 times 292,200,000) and play every number combination and win the now upcoming $1.3 billion dollar jackpot?
OFFICIALLY and justifiably reclaimed my title as SuperHotBlonde!
January 10th, 2016 at 12:10:09 AM
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This has been discussed in the other Powerball thread.
1) The physical limitations would make it nearly impossible for even a small team to buy that many tickets in time.
2) If someone else wins, you have to split the jackpot with them, putting you several hundred million dollars in the hole.
1) The physical limitations would make it nearly impossible for even a small team to buy that many tickets in time.
2) If someone else wins, you have to split the jackpot with them, putting you several hundred million dollars in the hole.
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
January 10th, 2016 at 12:12:58 AM
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Quote: DeucekiesThis has been discussed in the other Powerball thread.
1) The physical limitations would make it nearly impossible for even a small team to buy that many tickets in time.
2) If someone else wins, you have to split the jackpot with them, putting you several hundred million dollars in the hole.
3) Uncle Sam
DUHHIIIIIIIII HEARD THAT!
January 10th, 2016 at 1:01:12 AM
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Quote: Ibeatyouraces3) Uncle Sam
I was gonna say that, but if you were lucky enough to be the only winner, I thought we'd crossed the point where you'd come out ahead.
$1.3 billion * 0.62 = $806 million lump sum.
$806 million * 0.604 = $486.8 million after federal taxes.
Ok, not yet, but we're getting close.
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
January 10th, 2016 at 7:36:07 AM
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Some states, cities, and districts also have income tax.
Still, just considering the lump-sum factor and federal income taxes, you will only get 37.448% of the full published jackpot.
Still, just considering the lump-sum factor and federal income taxes, you will only get 37.448% of the full published jackpot.
