Powerball at $550M tonight

[PHC1]

I am in! I realize the chances are so minuscule that it is laughable. Of course having a chance no matter how small is better than absolute zero chance if you don't buy at least 1 ticket!

How about you?

[cmalak]

I bought just for fun. There is an interesting article on CNBC's web site that goes through the math. One can actually, buy tickets covering all the different combinations to guarantee winning the powerball (and in fact even more than just the grand prize because there are lower payouts for getting 5/6 and 4/6 etc...) for about $350MM, when you do the math. For those who have not read the article, any idea as to why financial players or a syndicate of players would not actually amass the financial resources to make what looks like a guaranteed bet?

PS: The odds are 1:175,000,000 per drawing of winning the Powerball I believe.

[mbovaird]

Originally Posted by cmalak

I bought just for fun. There is an interesting article on CNBC's web site that goes through the math. One can actually, buy tickets covering all the different combinations to guarantee winning the powerball (and in fact even more than just the grand prize because there are lower payouts for getting 5/6 and 4/6 etc...) for about $195MM, when you do the math. For those who have not read the article, any idea as to why financial players or a syndicate of players would not actually amass the financial resources to make what looks like a guaranteed bet?

PS: The odds are 1:175,000,000 per drawing of winning the Powerball I believe.

Multiple winners could foil their plan.

[cmalak]

Originally Posted by mbovaird

Multiple winners could foil their plan.

That is reason # 1. Excellent!

Two more issues. Anyone care to guess?

[PHC1]

Originally Posted by cmalak

I bought just for fun. There is an interesting article on CNBC's web site that goes through the math. One can actually, buy tickets covering all the different combinations to guarantee winning the powerball (and in fact even more than just the grand prize because there are lower payouts for getting 5/6 and 4/6 etc...) for about $195MM, when you do the math. For those who have not read the article, any idea as to why financial players or a syndicate of players would not actually amass the financial resources to make what looks like a guaranteed bet?

PS: The odds are 1:175,000,000 per drawing of winning the Powerball I believe.

Interesting question. I have thought about that but I always thought the math does not work... I guess when you cross a certain threshold like this time around, it would, if you are saying it really is 1:175,000,000. But then there is always a chance that there multiple winners and often enough there are! Probably why no one entity or institution wants to take that chance.

[PHC1]

I see multiple winners have already been mentioned! I type too slow.

[jdandy]

Serge.......There is a single Powerball ticket sitting on my desk right now. If you're not in, you can't possibly win.

[PHC1]

Originally Posted by jdandy

Serge.......There is a single Powerball ticket sitting on my desk right now. If you're not in, you can't possibly win.

Dan, absolutely. Like the joke goes:


Sam was in dire trouble. His business had gone bust and he was in serious financial trouble. He was so desperate he decided to pray for help.
He began, ‘God, please help me. I've lost my business and if I don't get some money, I'm going to lose my house as well. Please let me win the lottery.’ Lottery night came and Sam didn’t win.

Again Sam prays, ‘God, please let me win the lottery! I've lost my business, my house and I'm going to lose my car as well.’ Lotto night comes and Sam still has no luck.

Once again, he prays, ‘My God, why have you forsaken me?? I've lost my business, my house, and my car. My wife and children are starving. I don't often ask you for help and I have always been a good servant to you. PLEASE just let me win the lottery this one time so I can get my life back in order.’

Suddenly there is a blinding flash of light as the heavens open. Sam is confronted by the voice of God Himself: ‘Sam,’ says God, ‘meet Me halfway on this. Buy a bloody ticket.’

[cmalak]

Originally Posted by PHC1

Dan, absolutely. Like the joke goes:


Sam was in dire trouble. His business had gone bust and he was in serious financial trouble. He was so desperate he decided to pray for help.
He began, ‘God, please help me. I've lost my business and if I don't get some money, I'm going to lose my house as well. Please let me win the lottery.’ Lottery night came and Sam didn’t win.

Again Sam prays, ‘God, please let me win the lottery! I've lost my business, my house and I'm going to lose my car as well.’ Lotto night comes and Sam still has no luck.

Once again, he prays, ‘My God, why have you forsaken me?? I've lost my business, my house, and my car. My wife and children are starving. I don't often ask you for help and I have always been a good servant to you. PLEASE just let me win the lottery this one time so I can get my life back in order.’

Suddenly there is a blinding flash of light as the heavens open. Sam is confronted by the voice of God Himself: ‘Sam,’ says God, ‘meet Me halfway on this. Buy a bloody ticket.’

very true

[PHC1]

What's crazy is that there are many unclaimed lottery jackpots! Many don't realize the payouts for getting most numbers right can also be huge! There is over $800M of unclaimed lottery winnings from last year. Last June someone bought a winning ticket for $77M Tallapoosa, Ga and has yet to claim it...

23ABC News - $800 million in lottery prizes go unclaimed - News Story - Local News - Bakersfield News, Bakersfield, California News & Bakersfield News Local Headlines - KERO TurnTo23