 |
 |
 |
| "If I am captured, I will continue to resist by all means available. I will make every effort to escape and aid others to escape. I will accept neither parole nor special favors from the enemy." |
Posted on 01/13/2016 7:17:01 PM PST by Kevin in California
Spend $292 million to win a cash value of what, $800 million? Sounds like a profit of about $500 million. Only one problem—you have to enter each number into the machine one at a time. People behind you in line might get a little pissed.
You would possibly share the win with just enough other winners to only get half your money back.
If you bought them all, you would be out $584 million and you would probably have to share the prize with at least one other winning ticket. And then you would have to pay taxes on it.
Rerun the maths after the tax man hits you
MUSL is projecting that 86% if the combinations will be covered for tonight’s draw, which means there is a 1 in 7 chance that it will roll over again.
If anyone else wins, you lose
Guess what number would come up if you missed one, and only one, combination?
I think I read last drawing 28 people were one number off of winning.
The likely hood of being the only one with the winning number is not good enough to warrant buying all combinations IMO.
Plus you would have to fill out a card for each combo, because quick pick is likely to give you duplicate numbers.
Tickets are $2, so you would have to spend 2 x $292,000,000 = $584,000,000.
Impossible to do merely because of the logistics. How do you get that many buys into the system in a few days? That is the only saving grace of the lottery system at this time. They will not let you simply plop down 292 million and take all the numbers.
Not necessarily. If you buy one ticket and share the pot with one other person, you win.
Even if you share it was three others you still win.
the losing tickets are a tax deduction up until it equals the winnings.
Gambling losses can be deducted from gambling winnings (but not from any other income).
This changes the tax situation significantly since all of the non-winning numbers you bought are gambling losses.
|
|
|
| "If I am captured, I will continue to resist by all means available. I will make every effort to escape and aid others to escape. I will accept neither parole nor special favors from the enemy." |
Only if you chose the numbers on each ticket on an individual basis. A random selection generates duplicates. And you couldn't do that in the time allotted for purchase between drawings. The people setting these things up aren't dumb.
What about the A.M.T?
L et
O thers
T ake
T errible
O dds
!
You would be way short of winning. They sold over a billion dollars worth of tickets - at $2 per that’s over 500 million tickets. So in reality the odds are a LOT more than one in 292 million.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.