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365 Million

Old 02-16-2006, 08:33 PM
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Default 365 Million

Just bought my powerball numbers, So when I pick up the $365million on monday, I am going boat shopping!!!!!!!


Dean
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Old 02-16-2006, 08:48 PM
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The local news ran a story on that lottery. They said that the odds of winning were LESS than they were that you would be struck by lightning. ......... 208 times!

I didn't check their math, but at least it's not like there is no chance at all, right?
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Old 02-16-2006, 09:13 PM
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"Soooooo, your tellin me theres a chanceeeee?"





.....YESSSSSSSS!!!!!!
 
Old 02-16-2006, 11:50 PM
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Capt. Squiddly - 2/16/2006 10:13 PM

"Soooooo, your tellin me theres a chanceeeee?"





.....YESSSSSSSS!!!!!!
LOL....Dumb and Dumber ......right?
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Old 02-17-2006, 12:04 AM
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I'm not sharing it with any of
you SOBS! But I will take you fishing on my
new (dream )boat !
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Old 02-17-2006, 06:41 AM
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Hey....that equates to $1mil. per day for a year~ COOL!


Oh...but by the time Uncle Sam gets HIS "share" it'll probably equate to about what......

$29.67?


HA!!!

Good luck to ya~
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Old 02-17-2006, 07:48 AM
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mronzo - 2/16/2006 11:04 PM I'm not sharing it with any of you SOBS! But I will take you fishing on my new (dream )boat !


I am improving YOUR odds by not buying any tickets myself.

please remember myassistance is you should win.
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Old 02-17-2006, 08:00 AM
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I wonder if the odds of winning still outnumber the number of possible combinations of numbers. In other words, if you spent one dollar on every possible combination would the payout be more than what was spent? Not that I could afford to try!
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Old 02-17-2006, 08:11 AM
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thubert57 - 2/17/2006 7:00 AM I wonder if the odds of winning still outnumber the number of possible combinations of numbers. In other words, if you spent one dollar on every possible combination would the payout be more than what was spent? Not that I could afford to try!


The problem with buying every possible combinationonce the payout equals the cost approach is that you had better be the ONLY one who wins. You also need to factor in taxes, so payout had better be about twice the cost, or you are still behind.



One of my coworkers in Miami once won the lottery.All six numbers, and it was worth millions,

He later found out that it was him, and about 1200 other people. After it was all split up, his millions was afew thousand, and that was it. bummer
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Old 02-17-2006, 08:33 AM
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thubert57 - 2/17/2006 8:00 AM

I wonder if the odds of winning still outnumber the number of possible combinations of numbers. In other words, if you spent one dollar on every possible combination would the payout be more than what was spent? Not that I could afford to try!
Let's do the math. Say jackpot is $365 million over 20 years. Let's say present value is $200 million. Figuring state and local taxes are 39.6% and 8.5% (North Carolina), you would have $103,800,000.

If the lottery has 6 numbers and 47 possible numbers in each position, the odds are 47x47x47x47x47x47, or one in 10,779,215,329. So, if you spent a little ($779 million) over $10 billion dollars you could insure being at least one of the winners of a net of $103 million. If 10 others "get lucky", you would split the pot and net $10.3 million net on your $10 billion investment.

Thinking you are going to get a fair shake from the government is a suckers bet.
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Old 02-17-2006, 10:09 AM
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yes, but once a number comes up, it can't come up again, so really, only the first number has 47 possibilities, the next has 46, and the next 45. that means the total combinations are only 7.731 billion.

See, the odds are alot better than we first thought!
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Old 02-17-2006, 10:35 AM
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See now if I won the 365 mil, one of the things I'd buy would be






































THT.
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Old 02-17-2006, 11:32 AM
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Garett - 2/17/2006 10:35 AM

See now if I won the 365 mil, one of the things I'd buy would be



THT.

I don't think Wiley would sell it for only $365 million!
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Old 02-17-2006, 11:47 AM
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not quite. The odds are 1 in 146,107,962. There are 55 numbers and 42 for the powerball. The formula is 42*(55/5*54/4*53/3*52/2*51/1). The amount is high enough that if you could garantee that you would be the only winner you could buy all the combinations and win.

I still don't get how the odds are 1 in 68.96 for picking the powerball (according to the website and back of the tickets). There are only 42 numbers, so it should be 1 in 42.
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Old 02-17-2006, 01:33 PM
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Slappified - 2/17/2006 10:47 AM not quite. The odds are 1 in 146,107,962. There are 55 numbers and 42 for the powerball. The formula is 42*(55/5*54/4*53/3*52/2*51/1). The amount is high enough that if you could garantee that you would be the only winner you could buy all the combinations and win. I still don't get how the odds are 1 in 68.96 for picking the powerball (according to the website and back of the tickets). There are only 42 numbers, so it should be 1 in 42.


Well shoot, I guess I am just not smart enough to play the lottery,

That's really a shame too, cause we shore could use a new mobile home.
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Old 02-17-2006, 03:25 PM
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Well, that answered the question ... another thing is that you would win all the other possible combinations too. Therefore I'd only be in the hole several million!
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Old 02-17-2006, 08:12 PM
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bellsisland - 2/16/2006 8:33 PM

Just bought my powerball numbers, So when I pick up the $365million on monday, I am going boat shopping!!!!!!!


Dean
I think I will just phone my order into Buddy Davis and maybe pickup up a nice Fountain to play with

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