Posted on 10/16/2018 10:04:35 AM PDT by Oldeconomybuyer
Some lucky lottery players will walk away with huge winnings as the combined Mega Millions and Powerball jackpots now approach almost $1 billion. But let's get real: Chances are, it's not going to be you.
The odds of winning the combined $999 million jackpots stands at 1 in 88 quadrillion -- that's 88 thousand trillion, or the numeral 1 followed by 15 zeros, according to the Allstate Data Science Team. The previous odds, when the jackpots were smaller, stood at roughly 1 in 75 quadrillion.
To be sure, lottery players will have slightly better odds of winning either one of the jackpots. The odds of scoring the $654 million Mega MIllions prize is 1 in 302 million, while the $345 million Powerball is sporting odds of 1 in 292 million, Allstate said.
To grasp how unlikely even those odds are, it's worth checking them against the probability of other rare events. The likelihood of being struck by lightning within one's lifetime is 1 in 3,000.
You're also much more likely to date a millionaire, which carries a likelihood of 1 in 215. Even better, Americans have fairly strong odds of becoming a millionaire through work and investment, with economists at the St. Louis Federal Reserve calculating that people younger than 40 years old have a 1 in 55 chance of achieving a 7-figure net worth.
(Excerpt) Read more at cbsnews.com ...
LOL, My double clicker must be acting up.
That’s just to help you realize it’s at least 3 times overstated.
LOL, My double clicker must be acting up.
That’s just to help you realize it’s at least 3 times overstated.
So... What you’re saying is that there IS a chance you can win. That’s better than no chance.
That’s the odds of one person winning both.
Thank you for paying my fair share of taxes.
Hey, that’s the same odds as Elizabeth Warren being a real Indian
And yet, someone always wins ...
1/4 of something is more than 100% of nothing.
Gifting governments with money to fritter away.
Lotteries-A tax on stupid people
If the winner(s) of Powerball and Mega Million lotteries take lump sum the amount before taxes would be:
$380 million- Mega Millions
$199 million- Powerball
Link: https://www.usamega.com/
So 2 tickets over 88 qualdrillion is 1 over 44 quadrillion.
Y’mean I’ve still got a chance?
Better odds than the odds that Liz Warpath Warren is an honest injun.
On the night before the draw I always tell my husband to be really nice to me because I might be a multi-millionaire in a few hours. Then he reminds me of community property.
A million ain't what it used to be..........
Yeah but there is a big difference between taking a 1 in 302 million chance to win $654 million and taking a 1 in 302 million chance to win $163 million.
If expected value of the former ticket is $2.16. The expected value of the latter is $0.54.
One ticket, mega ball = 13.
But think of the starving actors the next time you throw away two dollars on a lotto ticket.
Do you know how much it costs to feed a millionaire for a week?
So more like 58%, a little better than half.
Still, I think it’s false advertising.
So more like 58%, a little better than half.
Still, I think it’s false advertising.
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