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Odds of winning $1 billion Mega Millions and Powerball: 1 in 88 quadrillion
CBS "News" ^ | October 16, 2018 | By AIMEE PICCHI

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 ...


TOPICS: Culture/Society; News/Current Events
KEYWORDS: lottery
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To: RandallFlagg

LOL, My double clicker must be acting up.

That’s just to help you realize it’s at least 3 times overstated.


21 posted on 10/16/2018 10:17:19 AM PDT by DannyTN
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To: RandallFlagg

LOL, My double clicker must be acting up.

That’s just to help you realize it’s at least 3 times overstated.


22 posted on 10/16/2018 10:17:19 AM PDT by DannyTN
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To: Oldeconomybuyer

So... What you’re saying is that there IS a chance you can win. That’s better than no chance.


23 posted on 10/16/2018 10:19:05 AM PDT by jerod (Nazi's were essentially Socialist in Hugo Boss uniforms... Get over it!)
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To: z3n

That’s the odds of one person winning both.


24 posted on 10/16/2018 10:20:12 AM PDT by conservative98
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To: BBQToadRibs
Still buying a ticket.

Thank you for paying my fair share of taxes.

25 posted on 10/16/2018 10:21:20 AM PDT by InABunkerUnderSF (Justice Brett Kavnaugh... I like the sound of that.)
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To: Oldeconomybuyer

Hey, that’s the same odds as Elizabeth Warren being a real Indian


26 posted on 10/16/2018 10:21:47 AM PDT by KosmicKitty (Opportunities multiply as they are seized.)
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To: Oldeconomybuyer

And yet, someone always wins ...


27 posted on 10/16/2018 10:22:29 AM PDT by pepsi_junkie (Often wrong, but never in doubt!)
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To: DannyTN

1/4 of something is more than 100% of nothing.


28 posted on 10/16/2018 10:22:40 AM PDT by ridesthemiles
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To: Mrs. Don-o

Gifting governments with money to fritter away.


29 posted on 10/16/2018 10:23:03 AM PDT by Rurudyne (Standup Philosopher)
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To: Mrs. Don-o

Lotteries-A tax on stupid people


30 posted on 10/16/2018 10:25:15 AM PDT by cyclotic ( Democrats must be politically eviscerated, disemboweled and demolished.)
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To: DannyTN

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/


31 posted on 10/16/2018 10:25:59 AM PDT by CharlesMartelsGhost
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To: Oldeconomybuyer

So 2 tickets over 88 qualdrillion is 1 over 44 quadrillion.

Y’mean I’ve still got a chance?


32 posted on 10/16/2018 10:26:13 AM PDT by a fool in paradise (Denounce DUAC - The Democrats Un-American Activists Committee)
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To: Oldeconomybuyer

Better odds than the odds that Liz Warpath Warren is an honest injun.


33 posted on 10/16/2018 10:27:04 AM PDT by a fool in paradise (Denounce DUAC - The Democrats Un-American Activists Committee)
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To: PittsburghAfterDark

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.


34 posted on 10/16/2018 10:27:36 AM PDT by tiki
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To: Oldeconomybuyer
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

A million ain't what it used to be..........

35 posted on 10/16/2018 10:27:53 AM PDT by Osage Orange (Whiskey Tango Foxtrot)
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To: ridesthemiles

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.


36 posted on 10/16/2018 10:27:54 AM PDT by DannyTN
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To: Oldeconomybuyer

One ticket, mega ball = 13.


37 posted on 10/16/2018 10:28:27 AM PDT by VastRWCon (Fake News)
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To: aMorePerfectUnion

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?


38 posted on 10/16/2018 10:29:37 AM PDT by a fool in paradise (Denounce DUAC - The Democrats Un-American Activists Committee)
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To: CharlesMartelsGhost

So more like 58%, a little better than half.

Still, I think it’s false advertising.


39 posted on 10/16/2018 10:30:05 AM PDT by DannyTN
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To: CharlesMartelsGhost

So more like 58%, a little better than half.

Still, I think it’s false advertising.


40 posted on 10/16/2018 10:30:05 AM PDT by DannyTN
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