Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: blam

It would cost you to $350,000,000 to buy every single number. After taxes, you would take the loss. BUT, if you sunk $350M into a one time draw, the value should go up to a point that there is something close to be made.

Now, one of you REALLY smart FReepers calculate the curve and see what the JP has to get to to make buying every single number work out profitable.

Then we’ll figure out the logistics. Then we’ll go find $350,000,000 and split the winnings.

LOL


25 posted on 02/11/2015 3:08:50 PM PST by Tenacious 1 (POPOF. President Of Pants On Fire.)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: Tenacious 1
It would cost you to $350,000,000 to buy every single number.

I don't think someone with that kind of cash fits the lotto player profile.

29 posted on 02/11/2015 3:10:14 PM PST by Tijeras_Slim
[ Post Reply | Private Reply | To 25 | View Replies ]

To: Tenacious 1
It would cost you to $350,000,000 to buy every single number.

Of course, there is nothing to prevent someone else from also getting the same winning number. That would cut your gross in half.

It would be kind of frustrating to blow $350,000,000 on tickets and then have to split the pot with some illegal alien who traded his Obama food stamps for a ticket.

49 posted on 02/11/2015 3:18:41 PM PST by Bubba_Leroy (The Obamanation Continues)
[ Post Reply | Private Reply | To 25 | View Replies ]

To: Tenacious 1

> It would cost you to $350,000,000 to buy every single number. After taxes, you would take the loss.

No, the $350 million would be gambling losses.


52 posted on 02/11/2015 3:19:44 PM PST by glorgau
[ Post Reply | Private Reply | To 25 | View Replies ]

To: Tenacious 1

It would cost a lot more than that. There are 59 white balls and 35 red balls. In total there are 21,026,821,200 possible outcomes (59*58*57*56*55*35). So the cost to cover all the possible draws is over $42 billion.


55 posted on 02/11/2015 3:21:14 PM PST by Sgt_Schultze (If a border fence isn't effective, why is there a border fence around the White House?)
[ Post Reply | Private Reply | To 25 | View Replies ]

To: Tenacious 1

You have to include in the calculation the probability that other people might also purchase the winning number. The odds are not 100%, but with so many people participating, they are pretty high.

If one other person gets lucky, your investment is a loser. It gets worse if two other people get lucky.

There is also the problem that you cannot physically purchase every number.


57 posted on 02/11/2015 3:21:26 PM PST by CharlesWayneCT
[ Post Reply | Private Reply | To 25 | View Replies ]

To: Tenacious 1

Assume 50% tax, 10% personal loan to get the cash so about $770M to break even.


161 posted on 02/11/2015 8:12:34 PM PST by reed13k (For evil to triumph it is only necessary for good men to do nothings)
[ Post Reply | Private Reply | To 25 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson