Posted on 12/27/2023 1:31:34 PM PST by V_TWIN
The Powerball jackpot has risen to an estimated $700 million after there was no winner in Monday's drawing.
The estimated cash value of the prize is $352.3 million, according to Powerball.
(Excerpt) Read more at abcnews.go.com ...
“does anyone believe these are not rigged ?”
Au contraire, my friend. You see I have developed a fool-proof method for lotteries. It has been working for me for many decades.
I win every time I dont play.
You can’t win if you don’t play, whether it’s 20M or 700M.
That being said...
If you buy 1 ticket your odds are about 300M : 1.
If you buy 100 tickets, you now have essentially 100 tickets, with EACH one having the odds of 300M : 1.
Waddya mean I’m funny?
Waddya mean? You mean the way I talk? What?
Funny how? I mean, what’s funny about it?
I’m funny how, I mean funny like I’m a clown? I amuse you?
make you laugh? I’m here to amuse you? Waddya mean “funny”? Funny how? How am I funny?
How am I funny? What is so funny about me? Tell me. Tell me what’s funny.
As the pot gets larger, purchasing a lottery ticket becomes less of a mathematically retarded thing to do.
A one in ten million chance of winning a million dollars represents a theoretical return on investment of 1,000,000/10,000,000 = 0.1, or ten cents on the dollar.
A one in ten million chance of winning ten million dollars represents a theoretical return on investment of 10,000,000/10,000,000 = 1.0, or break-even.
A one in ten million chance of winning a hundred million dollars represents a theoretical return on investment of 100,000,000/10,000,000 = 10, or ten dollars on the dollar.
At that point, it becomes a mathematically reasonable thing to do.
I believe but am not 100% sure, that the 30-year annuity choice pays out more in the long run, as the state can grow the pot making interest off the principal and, therefore able to pass on more of the jingle to the winner.
I welcome correction.
The winner should, the key word being should, be able to grow a fortune from the winnings, whether by one lump sum, or annual annuities.
They instituted an escalating payout for the annuities. This site allows you to pick your withholding and state and it tells you what you actually take home.
https://www.usamega.com/powerball/jackpot
Oh no….its a lot less than half.
In MA, if you are married and take a lump sum you walk away with $190MM.
I don’t gamble, but I’d give 9/10s of it to see some traitors hanged.
There’s an entertainment value aspect to this.
From some of the people I see waiting in line buy tickets....I doubt they understand all that. 😏
—> I mean how much does a person really need
Depends on the size of their dreams?
Or the size of their charitable desires?
Or if a Biden, how many hookers and blow you want.
I don’t think it has anything to do with need.
Pursuit of happiness.
Thank you for confirming my hunch. Yes, the annuity choice is almost double in total revenue received.
The big question is how much money could one make in 30 years with a 200M starting investment fund.
I believe money doubles in 7 years at 10% interest. I could be all wet. Ha!
Anybody that thinks money (of any amount) equals TRUE happiness, is terribly lost IMO
Instinctively they do.
—> Yes, the annuity choice is almost double in total revenue received.
If you invest your lump sum the math is different.
Your payout under the annuity is worth less each year in buying power.
That said, if one is a total spendthrift, the annuity is forced discipline.
—> Anybody that thinks money (of any amount) equals TRUE happiness, is terribly lost IMO
Agree, but…
Money can make it possible to pursue the happiness you desire.
The money itself is just stored potential value.
The lump sum after tax is around 33% of the gross.
Personally speaking, the pursuit of happiness is not “money centric”
When it comes to money we try to live by scripture. The Bible is pretty clear on the subject.
Proverbs 30:8-9 NIV
[8] Keep falsehood and lies far from me; give me neither poverty nor riches, but give me only my daily bread. [9] Otherwise, I may have too much and disown you and say, ‘Who is the Lord?’ Or I may become poor and steal, and so dishonor the name of my God.
There’s also 1 Timothy 6:10
Are you saying if God chose to entrust you with two hundred million dollars,
you wouldn’t be able to invest it in eternity?
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