Posted: 1/11/2016 7:11:49 PM EDT
|
If the odds are 1:292 million, does that mean there are 292 million combinations?
Therefore, if I have a spare 292 million laying around, couldn't I then buy every possible combination and ensure myself a win? Even if I share this with one other winner, I should still get a return on investment after taxes, right? 
So... group buy? 
|
|
Got his from a friend yesterday. Should I fo? Hey everyone!!! Looking for anyone who wants to join a PowerBall Lotto Pool. $500 per person we already have over $40k in the pool for the Biggest Jack Pot of All Time bringing our odds to better than 29,000:1. Cash only and I need to collect already money by end of day Tuesday to make Wednesday not so hectic and crazy. All scanned tickets and splits will be posted in private PowerBall page by Wednesday afternoon. Now get with your friends, co-workers, neighbors, enemies and friends and come up with $500!!!!! Good luck ?????? Contact me separately if you have any questions!!! |
|
I'm assuming those are the odds of winning the big jackpot. If so, then yes, that means there are 292 million combinations.
The danger in buying all the tickets is splitting the prize with multiple people. As the prize increases, more people play, which increases your odds of splitting. |
|
Quoted:
No, tickets are 2 bucks a pop. ETA: meant to quote the OP. He'd need twice that amount and hope no one else won. Quoted:
Quoted:
Quoted:
If the odds are 1:292 million, does that mean there are 292 million combinations? No, tickets are 2 bucks a pop. ETA: meant to quote the OP. He'd need twice that amount and hope no one else won. Price of tickets has no impact on the odds of a ticket winning. He'd need to spend 584m to buy all 292 million combinations, but it'd still be 1:292 odds. |
|
Quoted:
Price of tickets has no impact on the odds of a ticket winning. He'd need to spend 584m to buy all 292 million combinations, but it'd still be 1:292 odds. Quoted:
Quoted:
Quoted:
Quoted:
If the odds are 1:292 million, does that mean there are 292 million combinations? No, tickets are 2 bucks a pop. ETA: meant to quote the OP. He'd need twice that amount and hope no one else won. Price of tickets has no impact on the odds of a ticket winning. He'd need to spend 584m to buy all 292 million combinations, but it'd still be 1:292 odds. Yeah, quoted the wrong post. |
|
Quoted: If the odds are 1:292 million, does that mean there are 292 million combinations? Therefore, if I have a spare 292 million laying around, couldn't I then buy every possible combination and ensure myself a win? Even if I share this with one other winner, I should still get a return on investment after taxes, right? So... group buy? That is correct. Right now, the post-tax value is high enough that this would be a great plan. Considerations: 1 - a second (or more) other winning tickets. The jackpot may be big enough for two, but not for three. 2 - the 291,999,999 $583,999,998 you spend on losing tickets could be deducted from any winnings. 3 - the biggest problem is that you can't actually print 292,000,000 tickets in the time between drawings in any reasonable manner ETA - The $2 ticket price really blows up the math on cornering the lottery. |
|
Quoted:
If the odds are 1:292 million, does that mean there are 292 million combinations? Therefore, if I have a spare 292 million laying around, couldn't I then buy every possible combination and ensure myself a win? Even if I share this with one other winner, I should still get a return on investment after taxes, right?
So... group buy? I want to know how many machines you would need to run continuously to have a chance in hell of printing that many tickets in the time allotted between one drawing and the next. I believe there have been partnerships and or business ventures who have tried to go out and buy their victory in a lotto. Gauranteed that you will have to have the winning ticket in hand to claim it. You are also forgetting.... What if you win and so does somebody else meaning now you split the proceeds. Logistics of organizing the ticket machines, sorting the tickets, finding the ticket, is all a cool thing to ponder locking a win. |
|
Quoted:
No, tickets are 2 bucks a pop. ETA: meant to quote the OP. He'd need twice that amount and hope no one else won. Quoted:
Quoted:
Quoted:
If the odds are 1:292 million, does that mean there are 292 million combinations? No, tickets are 2 bucks a pop. ETA: meant to quote the OP. He'd need twice that amount and hope no one else won. Ah HA! I knew there was a catch somewhere. As you can now tell, I don't play powerballs. I can probably save almost 100 million by eliminating runs and jumps.... 
|
|
Quoted:
Ah HA! I knew there was a catch somewhere. As you can now tell, I don't play powerballs. I can probably save almost 100 million by eliminating runs and jumps.... Quoted:
Quoted:
Quoted:
Quoted:
If the odds are 1:292 million, does that mean there are 292 million combinations? No, tickets are 2 bucks a pop. ETA: meant to quote the OP. He'd need twice that amount and hope no one else won. Ah HA! I knew there was a catch somewhere. As you can now tell, I don't play powerballs. I can probably save almost 100 million by eliminating runs and jumps.... Why would you? Those numbers you're eliminating have exactly the same odds of being selected as any other combination. 1-2-3-4-5-6 is just as likely as 25-9-13-8-1-3 |
|
Quoted:
I want to know how many machines you would need to run continuously to have a chance in hell of printing that many tickets in the time allotted between one drawing and the next. I believe there have been partnerships and or business ventures who have tried to go out and buy their victory in a lotto. Gauranteed that you will have to have the winning ticket in hand to claim it. You are also forgetting.... What if you win and so does somebody else meaning now you split the proceeds. Logistics of organizing the ticket machines, sorting the tickets, finding the ticket, is all a cool thing to ponder locking a win. Quoted:
Quoted:
If the odds are 1:292 million, does that mean there are 292 million combinations? Therefore, if I have a spare 292 million laying around, couldn't I then buy every possible combination and ensure myself a win? Even if I share this with one other winner, I should still get a return on investment after taxes, right?
So... group buy? I want to know how many machines you would need to run continuously to have a chance in hell of printing that many tickets in the time allotted between one drawing and the next. I believe there have been partnerships and or business ventures who have tried to go out and buy their victory in a lotto. Gauranteed that you will have to have the winning ticket in hand to claim it. You are also forgetting.... What if you win and so does somebody else meaning now you split the proceeds. Logistics of organizing the ticket machines, sorting the tickets, finding the ticket, is all a cool thing to ponder locking a win. I'm from Pennsylvania, we just rig our lotteries.
(You may notice that Powerball has had the most winners from PA) |
|
Quoted:
Why would you? Those numbers you're eliminating have exactly the same odds of being selected as any other combination. 1-2-3-4-5-6 is just as likely as 25-9-13-8-1-3 Quoted:
Quoted:
Quoted:
No, tickets are 2 bucks a pop. ETA: meant to quote the OP. He'd need twice that amount and hope no one else won. Ah HA! I knew there was a catch somewhere. As you can now tell, I don't play powerballs. I can probably save almost 100 million by eliminating runs and jumps.... Why would you? Those numbers you're eliminating have exactly the same odds of being selected as any other combination. 1-2-3-4-5-6 is just as likely as 25-9-13-8-1-3 Well, THAT could never happen! 
|
|
Quoted:
Got his from a friend yesterday. Should I fo?
Hey everyone!!! Looking for anyone who wants to join a PowerBall Lotto Pool. $500 per person we already have over $40k in the pool for the Biggest Jack Pot of All Time bringing our odds to better than 29,000:1. Cash only and I need to collect already money by end of day Tuesday to make Wednesday not so hectic and crazy. All scanned tickets and splits will be posted in private PowerBall page by Wednesday afternoon. Now get with your friends, co-workers, neighbors, enemies and friends and come up with $500!!!!! Good luck ?????? Contact me separately if you have any questions!!! Ask him, if you match the total they get, as in, put up half the total, do you get half the total winnings, or an equal share? 
|
|
I just looked it up for the first time, it is a total of 6 numbers between 1-69. Do you walk into the gas station and tell them what numbers you want? Seems like it would take awhile if you are buying multiple tickets.
<---Has never bought a lottery ticket other than the $1 scratch off |
|
Quoted:
I just looked it up for the first time, it is a total of 6 numbers between 1-69. Do you walk into the gas station and tell them what numbers you want? Seems like it would take awhile if you are buying multiple tickets. <---Has never bought a lottery ticket other than the $1 scratch off You fill out a form. 
|
|
It was tried....they won. The devil is in the datails. 7 million combinations at $1 each and they only had time to get 5 million printed. http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all&src=pm |
|
Quoted:
Quoted:
I just looked it up for the first time, it is a total of 6 numbers between 1-69. Do you walk into the gas station and tell them what numbers you want? Seems like it would take awhile if you are buying multiple tickets. <---Has never bought a lottery ticket other than the $1 scratch off You fill out a form. http://www.flalottery.com/images/jpg/powerball-playslip2015.jpg FORMS?!???! THIS IS ARFCOM!!!! 
|
|
I doubt you'd be able to print every combo in time. I remember this happening years ago. I'm too lazy to read the article, but I'll post it.
If I recall, they were a bit short of getting all combinations printed but won anyway, so they saved some money. The odds on this one weren't nearly as astronomical as the powerball. http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all edit: beat by phil. I suck at multitasking.
|
|
Quoted:
We have a pool at work buying group tickets. Once the money is collected, they want to split the purchases between two states (VT and NH), like that makes a fucking difference. 
http://moneynation.com/how-to-win-powerball/ 
|
|
Quoted:
I doubt you'd be able to print every combo in time. I remember this happening years ago. I'm too lazy to read the article, but I'll post it.
If I recall, they were a bit short of getting all combinations printed but won anyway, so they saved some money. The odds on this one weren't nearly as astronomical as the powerball. http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all edit: beat by phil. I suck at multitasking. That fucking avatar is mesmerizing!
I think it's the way he's staring at me. 
|
|
http://money.cnn.com/2016/01/11/news/powerball-jackpot-win-guarantee/ If you were able to buy one ticket every second, it would still take you more than nine years to buy every combination. And that's optimistic: You have to ensure that you buy every number just once -- not just 292 million quick-picks. Even if you could deploy an army of people to buy all those tickets for you, it's still extremely unlikely that you'd be able to buy every ticket. "Think about how many lottery ticket stations there are nationwide and how busy they've been, running nonstop over the past three days," said Matheson. "Even still, they were only able to sell 440 million tickets." |
Damn, I was thinking about buying it out. 
Quoted:
http://money.cnn.com/2016/01/11/news/powerball-jackpot-win-guarantee/ Quoted:
http://money.cnn.com/2016/01/11/news/powerball-jackpot-win-guarantee/ If you were able to buy one ticket every second, it would still take you more than nine years to buy every combination. And that's optimistic: You have to ensure that you buy every number just once -- not just 292 million quick-picks. Even if you could deploy an army of people to buy all those tickets for you, it's still extremely unlikely that you'd be able to buy every ticket. "Think about how many lottery ticket stations there are nationwide and how busy they've been, running nonstop over the past three days," said Matheson. "Even still, they were only able to sell 440 million tickets." |
|
Quoted: I doubt you'd be able to print every combo in time. I remember this happening years ago. I'm too lazy to read the article, but I'll post it. If I recall, they were a bit short of getting all combinations printed but won anyway, so they saved some money. The odds on this one weren't nearly as astronomical as the powerball. http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all edit: beat by phil. I suck at multitasking. Quoted: I doubt you'd be able to print every combo in time. I remember this happening years ago. I'm too lazy to read the article, but I'll post it. If I recall, they were a bit short of getting all combinations printed but won anyway, so they saved some money. The odds on this one weren't nearly as astronomical as the powerball. http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all edit: beat by phil. I suck at multitasking. That wasn't the article I was looking for but it has to be about the same lottery and group. 2500 investors. They'd prefilled out the betting slip and prearranged for locations to run them at. They ran into problems with some locations backing out (partway through?) but in the end they won a little more than the jackpot as many of the tickets that did get run won smaller amounts. They had to fight over whether they would get paid, the state pulled out a rule Lottery regulations require that each lottery ticket be paid for at the lottery terminal that dispenses it. But the group's claim is in question because the tickets were paid for at the headquarters of Farm Fresh Inc. in Norfolk, and the winning ticket was issued at a store in nearby Chesapeake. The fight over taxes went to court; the .gov won. http://www.leagle.com/decision/19921137800FSupp337_11111/INTERNATIONAL%20LOTTO%20FUND%20v.%20VIRGINIA%20LOTTERY%20DEPT. |
|
Quoted:
Interesting math. Two problems with buying every possible combo: 1) Multiple winners 2) Taxes Actually problem #3 is you cannot physically do it, but will leave that alone for the sake of argument. 440,321,172 tickets were sold for 1/9/16. So it is possible.
|