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5m lotto.....one time 5m lotto.....one time

11-30-2012 , 08:54 PM
Quote:
Originally Posted by ShouldI
Apparently CA will sell powerball come April. That should make for bigger faster growing Jackpots.
Oh ****.

Last edited by Doc T River; 11-30-2012 at 08:55 PM. Reason: My first honest response.
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11-30-2012 , 09:19 PM
Area winner's town is so small, he could give awy $10,000 to each resident and have only given away $5 million.

He says he's going to remain living there.
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12-01-2012 , 07:50 AM
Quote:
Originally Posted by ShouldI
Apparently CA will sell powerball come April. That should make for bigger faster growing Jackpots.
is this true?

I think I would trade higher payouts for higher odds. adding another state only make the odds of winning even lower for a single player/ticket
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12-01-2012 , 09:24 AM
Quote:
Originally Posted by MSchu18
adding another state only make the odds of winning even lower for a single player/ticket
Wat?
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12-01-2012 , 09:25 AM
more players... larger player pool... worse odds of winning.
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12-01-2012 , 10:39 AM
Quote:
Originally Posted by MSchu18
is this true?

I think I would trade higher payouts for higher odds. adding another state only make the odds of winning even lower for a single player/ticket
You EV is still the same.

It's a larger prize pool but shared by larger play pool
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12-01-2012 , 12:24 PM
The odds of winning won't get worse but the odds of splitting will be way higher.
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12-01-2012 , 12:33 PM
...and the jackpot will be "way higher."
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12-01-2012 , 12:55 PM
Wonder what Mega Millions will do in response given they're already in CA.

With Mega Millions reseting to $12 mill after a win, it almost doesn't seem worth it when Powerball resets to $40 mill after a win.
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12-01-2012 , 02:55 PM
I too wonder what happens to Mega Millions and even more so Super Lotto in CA. We'll have three lottos by April, not to mention like 27106574006 smaller lottery games. "For the schools!"
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12-01-2012 , 03:09 PM
Quote:
Originally Posted by MSchu18
more players... larger player pool... worse odds of winning.
Your odds of winning r the same if your the only player or there r a billion. Only thing it changes is the odds of you being the ONLY Winner
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12-01-2012 , 03:20 PM
Quote:
Originally Posted by Tom Dwans Son
Neither Powerball nor Mega Millions have ever been ev+ investments. Earlier this year Mega Millions set a record with a cash payout of $475 million, and that would have been an ev+ investment if not so many people had played it. However based on the number of people playing it (and the chances it would be split multiways) it was a horrible investment.

BTW, the cash payout for this lottery is like $278.3 million. The $425 million number is completely meaningless and is simply used by the lottery to deceive the poor and mentally weak.

BTW, the Texas lotto was a good investment a couple years back, so it's not that a lottery doesn't have the potential to be a good investment, but as long as people are stupid and make unwise investments, it's unlikely the powerball or mega millions will ever be good investments.

ps. I'm a hypocrite because I'm buying tickets too. Good luck to me.

Yes the number 425 mill is meaningless but 278.3 mill aint too bad either.
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12-01-2012 , 03:55 PM
Personally if I'm going to play a lottery, I'd rather one with a smaller top prize and more prizes/higher chances of winning something.

Here in the UK, our own National Lottery has an average jackpot of about £5m (~$8m) and rarely goes above £10m (~$15m). You have to match all 6 of your numbers for the jackpot and there are 49 balls being drawn from.

We do have a Europe-wide lottery called Euromillions which sometimes gets quite large, although there is a cap around €150m (~$200m) which after the jackpot reaches that level, additional prize funds are spread down to other prizes and the jackpot remains static.

I don't honestly feel that winning £500m would change my life significantly more than winning £100m, although obviously I know which I'd prefer. I just think once I reach an amount of money whereby I'm never going to have to work or worry about money again (unless I screw up massively somehow!), additional winnings on top of that are unlikely to add much real value to me, so I'd rather play a game with shorter odds and a reduced top prize.

Or do what I usually do and forget to buy tickets at all.
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12-01-2012 , 04:29 PM
Quote:
Originally Posted by Diet Mountain Dew
Your odds of winning r the same if your the only player or there r a billion. Only thing it changes is the odds of you being the ONLY Winner
I think that was what I was implying you guys.
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