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No winner yet, Powerball at $675 Million biggest in U.S History

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D

DaveTheSnake

Member
Damaniel said:
Could this actually manage to hit $1B before the drawing?
Click to expand...

It's definitely possible considering it has gone up $125 million since Thursday. Tomorrow morning, it could be $900-$950 million, and might hit $1 billion by the time of the drawing.

Imagine if nobody hits the powerball on Saturday... $1.5 billion by next Wednesday?
 
C

CrisKre

Member
Bought 5 tickets and pooled with another 3 co workers for a total of 15. Our share policy is 1 million shared for a bigger win than 10 million, 200.000 for anything under that.

I feel lucky this week Gaf.
 
M

Manmademan

Member
Killing_Joke said:
christ 1 billion???? Fuck. Our work pool lost with 30 tickets. I'm going to go solo with 30 tickets, fuck it.
Click to expand...

Don't go crazy buying tickets. Your odds are so low 1 ticket is just as good as 1000.

To put it in perspective, convenience stores get a share of the money for a powerball win. My local one is CRAZY BUSY and sells hundreds of thousands of powerball tickets a year. This drawing alone will probably be tens of thousands just for Saturday.

No one has ever hit a jackpot OR the million prize there ever.
 
A

adj_noun

Member
Manmademan said:
Don't go crazy buying tickets. Your odds are so low 1 ticket is just as good as 1000.
Click to expand...

To put it in perspective, we've had people running the powerball simulator for thousands of simulated years of play.

We've had some million dollar wins*, but no jackpots. And this is with BETTER odds than the current powerball.

*to date I believe the money spent to get those wins has outpaced the money won
 
H

HStallion

Now what's the next step in your master plan?
If I were to win I would take take a lump sum, pay the huge amount of taxes, hire a group of lawyers to help me with any legal issues that could or would happen and then give several million to each of my parents.

Then place the rest in a giant pile and light it ablaze joker style.

Or give it to charity. Depends how I'm feeling on that day.
 
A

ascii42

Member
adj_noun said:
To put it in perspective, we've had people running the powerball simulator for thousands of simulated years of play.

We've had some million dollar wins*, but no jackpots. And this is with BETTER odds than the current powerball.

*to date I believe the money spent to get those wins has outpaced the money won
Click to expand...

The lottery would be a shitty revenue generator if its expected value weren't negative.
 
Gray Matter

Gray Matter

Member
I'm going to me a millionaire, GAF, I can feel it. I have 99 possible combinations and I have the winning numbers, I know I do.
 
K

Kenstar

Member
adj_noun said:
To put it in perspective, we've had people running the powerball simulator for thousands of simulated years of play.

We've had some million dollar wins*, but no jackpots. And this is with BETTER odds than the current powerball.

*to date I believe the money spent to get those wins has outpaced the money won
Click to expand...

I used to be Positive 14 thousand years ago due to a lucky 1mil jackpot, now I'm a million in the hole
and I'm STILL beating the odds, I shouldn't have 3 $1mil wins in 2million games when the odds are 1 in 5 mil games
5GRPwG2.png
 
Lyrian

Lyrian

Member
Question for GAF:

Consider the following, assuming there were no legal of physical constraints prohibiting the following scenario.

With a $800 million payout, the lump sum payout after taxes is now well north of $300 million.

If you had the opportunity and capacity to spend $292.2 million to purchase one ticket for every possible permutation in the Powerball, guaranteeing a jackpot ticket, would you bet that much money on a potential guaranteed profit, if...

1) No one else has the same plan as you and also spends $292.2 million to guarantee a Powerball win.

2) No other general participant in the lottery gets insanely lucky and happens to hold a winning ticket.

If there is more than one winner to the Powerball, then the gambit is a significant financial failure. If you are the only winner, then the gambit is a colossal success.

Would you take the risk that no one else would have the gravitas to commit $292.2 million (assuming that they see and understand the exact same loss conditions noted above) and that also no other general participant wins the Powerball to secure a $200 million profit (or more)?
 
Gray Matter

Gray Matter

Member
Lyrian said:
Question for GAF:

Consider the following, assuming there were no legal of physical constraints prohibiting the following scenario.

With a $800 million payout, the lump sum payout after taxes is now well north of $300 million.

If you had the opportunity and capacity to spend $292.2 million to purchase one ticket for every possible permutation in the Powerball, guaranteeing a jackpot ticket, would you bet that much money on a potential guaranteed profit, if...

1) No one else has the same plan as you and also spends $292.2 million to guarantee a Powerball win.

2) No other general participant in the lottery gets insanely lucky and happens to hold a winning ticket.

If there is more than one winner to the Powerball, then the gambit is a significant financial failure. If you are the only winner, then the gambit is a colossal success.

Would you take the risk that no one else would have the gravitas to commit $292.2 million (assuming that they see and understand the exact same loss conditions noted above) and that also no other general participant wins the Powerball to secure a $200 million profit (or more)?
Click to expand...

Well, it would me more than $292.2 million to buy every possible combination since each ticket is $2. But no, I wouldn't do that, if I already have that kind of money to buy that many lottery tickets, I wouldn't spend it playing the lottery.
 
E

Epix

Member
Lyrian said:
Question for GAF:

Consider the following, assuming there were no legal of physical constraints prohibiting the following scenario.

With a $800 million payout, the lump sum payout after taxes is now well north of $300 million.

If you had the opportunity and capacity to spend $292.2 million to purchase one ticket for every possible permutation in the Powerball, guaranteeing a jackpot ticket, would you bet that much money on a potential guaranteed profit, if...

1) No one else has the same plan as you and also spends $292.2 million to guarantee a Powerball win.

2) No other general participant in the lottery gets insanely lucky and happens to hold a winning ticket.

If there is more than one winner to the Powerball, then the gambit is a significant financial failure. If you are the only winner, then the gambit is a colossal success.

Would you take the risk that no one else would have the gravitas to commit $292.2 million (assuming that they see and understand the exact same loss conditions noted above) and that also no other general participant wins the Powerball to secure a $200 million profit (or more)?
Click to expand...

confused
 
C

Camp1nCarl

Member
Best of luck to GAF lol. Personally, I think this kind of money wouldn't be worth the nightmare. Friends and family would get harassed, I would get harassed, people would come up to you for everything with real legitimate issues. No thanks, I'll avoid the limelight and do my own thing thank you very much.
 
Ravijn

Ravijn

Member
Good luck to everyone that played!

I bought in at work with their pool and I think we have about 52 tickets or so. Eh, it's worth a shot and a dream.
 
S

Septimus Prime

Member
Lyrian said:
Question for GAF:

Consider the following, assuming there were no legal of physical constraints prohibiting the following scenario.

With a $800 million payout, the lump sum payout after taxes is now well north of $300 million.

If you had the opportunity and capacity to spend $292.2 million to purchase one ticket for every possible permutation in the Powerball, guaranteeing a jackpot ticket, would you bet that much money on a potential guaranteed profit, if...

1) No one else has the same plan as you and also spends $292.2 million to guarantee a Powerball win.

2) No other general participant in the lottery gets insanely lucky and happens to hold a winning ticket.

If there is more than one winner to the Powerball, then the gambit is a significant financial failure. If you are the only winner, then the gambit is a colossal success.

Would you take the risk that no one else would have the gravitas to commit $292.2 million (assuming that they see and understand the exact same loss conditions noted above) and that also no other general participant wins the Powerball to secure a $200 million profit (or more)?
Click to expand...
The odds of any one ticket winning the jackpot is 1 in 292 million, but with the pot now at $800 million, and the cost of each ticket being $2, we can estimate that there are at least 400 million tickets in circulation (and that's assuming the entire ticket price goes into the pot, which most assuredly is not the case). Granted many tickets will have duplicate numbers, since not everyone plays Quick Pick, the likelihood of the game being won at all should be pretty close to 100%. So, if you spend $292 million to guarantee a win, there will almost certainly be another winner or more in the other tickets. It's a risky gamble.
 
Y

Yaboosh

Super Sleuth
Septimus Prime said:
The odds of any one ticket winning the jackpot is 1 in 292 million, but with the pot now at $800 million, and the cost of each ticket being $2, we can estimate that there are at least 400 million tickets in circulation (and that's assuming the entire ticket price goes into the pot, which most assuredly is not the case). Granted many tickets will have duplicate numbers, since not everyone plays Quick Pick, the likelihood of the game being won at all should be pretty close to 100%. So, if you spend $292 million to guarantee a win, there will almost certainly be another winner or more in the other tickets. It's a risky gamble.
Click to expand...


Past tickets are no longer valid. You definitely can't assume that there are 400mil tickets out there.
 
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