Posted on 09/27/2024 5:51:04 PM PDT by Red Badger
A spokesperson for Mega Millions announced that the price of tickets will soon cost $5 instead of $2, also adding that the starting jackpot will increase from $20 million to $50 million and will continue to grow based on sales.
Additionally, the odds of winning the jackpot will go up from 1 in 302 million to 1 in 290 million.
Every ticket will have a built in “randomly generated multiplier” to increase non-jackpot wins, with multipliers ranging from 2X to 10X, according to the spokesperson.
The new price to play is set to debut sometime in 2025, promising to “bring more value and excitement to players,” said the Mega Millions gaming commission.
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Put very simply, ten times practically no chance is still practically no chance. But mathematically, ten times a very, very tiny chance is ten times greater than that very, very tiny chance.
I never count on winning anything at all on any lottery ticket, and in fact I have never won more than $4, and that only a few times. I buy a lottery ticket from time to time, and get at least $2 worth of enjoyment out of imagining what we’d do if we won the jackpot. I don’t think that amount of amusement would be worth $5, though.
Yep...
Can remember when the government controlled/owned a cat house east of Reno...
Aa a poet, you flunked math, huh?
Reminds me of one of my favorite Dilbert cartoons. Dogbert was advertising and selling “Half-price Lottery Tickets.” One guy buys one, and looking at it as he walks away he says, “Hey!, this is for last week’s lottery.” Dogbert replies, “Yes, but it was half the price and the odds of winning are only infinitesimally smaller.”
Oh man, I see I should have read the whole thread first. I mentioned that Dilbert strip after you, and now that you’ve posted the real thing I see I got the gist right, but my memory was a little faulty.
Help me figure this out. Is this “shrinkflation” or “price gouging”?
“It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grams a week. And only yesterday […] it had been announced that the ration was to be reduced to twenty grams a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it. [...] The eyeless crature at the other table swallowed it fanatically. passionately, with a furious desire to track down, denounce, and vaporize anyone who should suggest that last week the ration had been thirty grams. Syme, too-in some more double complex way, involving doublethink-Syme, swallow it. Was he, then, alone in the possession of a memory?”
― Orwell George, 1984
If there are 300 million numerical possibilities and you bought 5, then there are still 299,999,995 that you have not bought. Each of the tickets has that 1 in 300 million chance. That is additive, not multiplicative.
That is idiotic. You do not understand the math.
When you buy five tickets, you have a five out of 300,000,000 chance of winning.
That means you have a one out of 60,000,000 chance of winning.
It’s that simple, poet.
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