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Wow, this is pretty sick. Mega Millions Jackpot is up to $196.000.000. Odds of winning it is 175.711.536:1 and a ticket costs $1. (And you have many chances of winning a smaller amount) Hence +EV!!! http://www.megamillions.com/howtoplay/game_instructions.asp
its still not +ev. after taxes you will get far less than 176 million. In VA if i take the lump sum payout i would get 85 mill and if i got it paid over time i would get around 139 mill. so its still and awful ev situation because those numbers are if i am the sole winner and there is a chance that i could split it which makes the odds even worse. i dont really feel like doing the math factoring in all the other payouts but its still -ev, there was a thread a long time ago when someone figured it out.having said that i will be buying 20 tickets tomorrow
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Wow, this is pretty sick. Mega Millions Jackpot is up to $196.000.000. Odds of winning it is 175.711.536:1 and a ticket costs $1. (And you have many chances of winning a smaller amount) Hence +EV!!! http://www.megamillions.com/howtoplay/game_instructions.asp
Technically, that $196 million is a payout over 26 years, so current day cash value if you take the 1 time payout is $119.2 million. Then you factor in the approximate 40% in taxes our lovely government requests, and we are down to $71.5 million.Not that it wouldn't be nice to win, but don't go and buy all 175million+ combinations... very -EV decision.Just sayin. :club:
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Technically, that $196 million is a payout over 26 years, so current day cash value if you take the 1 time payout is $119.2 million. Then you factor in the approximate 40% in taxes our lovely government requests, and we are down to $71.5 million.Not that it wouldn't be nice to win, but don't go and buy all 175million+ combinations... very -EV decision.Just sayin. :club:
you are only taxed on the winnings so forget that part. The cash value payment and the risk that you split the prize are the big -EV factors.
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you are only taxed on the winnings so forget that part. The cash value payment and the risk that you split the prize are the big -EV factors.
if I get heads up I don't mind splitting it :club:
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are you guys forgetting the random chance that someone else ALSO hits the numbers (or god forbid 2 or 3 other people) when we get all in on the flop and we end up getting quartered on the river with no counterfeit protection??

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Then you factor in the approximate 40% in taxes our lovely government requests,
Iceland and Ireland are the only first world countries that have lower income taxes than the US. So yeah, our government is pretty lovely in that respect.
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so what?The powerball lottery has been up to $450,000,000 numerous times$196,000,000 is chump change

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I always buy a few tickets when it gets over $100 million. Let me run good one time!

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Ok, here's something I never understood about lotteries. More accurately, something I never understood about the people who play lotteries:Why do so many people go out and buy tickets when the jackpot gets up to 100 or 200 million (or some other large amount that is rare to reach)? I am specifically talking about people who don't normally play the lottery, but play in these cases.My question is this: Is 30 million, or even 10 or 5 million not enough money to change the lives of these people? Is it not "worth their time" to go out and buy tickets if the jackpot is only 15 million? They wait until it's 175 million, and then they play? I just don't get it.

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Ok, here's something I never understood about lotteries. More accurately, something I never understood about the people who play lotteries:Why do so many people go out and buy tickets when the jackpot gets up to 100 or 200 million (or some other large amount that is rare to reach)? I am specifically talking about people who don't normally play the lottery, but play in these cases.My question is this: Is 30 million, or even 10 or 5 million not enough money to change the lives of these people? Is it not "worth their time" to go out and buy tickets if the jackpot is only 15 million? They wait until it's 175 million, and then they play? I just don't get it.
i never really understood this either. I play every week, the same 6 number combination i've been playing for 20+ years (technically it started when i was a kid and my dad asked me for 6 numbers) Anyway, they have been played every week, and honestly, i'd be happy with a 2nd prize (100k or so), truthfully, i'm happy when i win a free ticket.
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Ok, here's something I never understood about lotteries. More accurately, something I never understood about the people who play lotteries:Why do so many people go out and buy tickets when the jackpot gets up to 100 or 200 million (or some other large amount that is rare to reach)? I am specifically talking about people who don't normally play the lottery, but play in these cases.My question is this: Is 30 million, or even 10 or 5 million not enough money to change the lives of these people? Is it not "worth their time" to go out and buy tickets if the jackpot is only 15 million? They wait until it's 175 million, and then they play? I just don't get it.
Yes, $196 million is different than $30M, $10M, or $5M. AINEC$30M would net you maybe $16M cash option after taxes. That's if it isn't split. Could I live on $16M the rest of my life and not have to work? Yeah, no problem. Would it be the same lifestyle as winning the $196M. Absolutely not.
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