4 ms·
Here's the math for those wondering: Odds to win = 1/292,201,338 Cost of Ticket = $2 Buying All Combinations = $584,402,676 Current Prize ~ $1,300,000,000
by ASpring 11y ago
Here's the math for those wondering:
Odds to win = 1/292,201,338
Cost of Ticket = $2
Buying All Combinations = $584,402,676
Current Prize ~ $1,300,000,000
Takehome Annuity(1) ~ $900,000,000
Lump Sum Takehome ~ $550,000,000
You'll likely end up splitting the prize at this point with at least one other ticket which will put you in the red by over a hundred million. This is the primary deterrent.
1: After 30 years of payments. 900m is lower end after state taxes. https://www.usamega.com/powerball-jackpot.asp https://www.usamega.com/powerball-jackpot.asp
- joezydeco 11y agoYou would also need to buy about 900 tickets per second from the moment the first drawing is over until the second one begins, hoping all the time for a rollover.
- iSloth 11y agoWhat about all the small prizes that you'd win as well?
- pavornyoh 11y agoI have always wondered if the odds of winning is true as stated. If it is so difficult, how did Joan Ginther win it four times? Per the article, Why would Joan Ginther, a math-savvy woman with a Ph.D. from Stanford, leave her home in Las Vegas, a block from three casinos, to devote countless hours to lottery longshots if she can be considered a legend then someone can do it with powerball?http://www.philly.com/philly/news/nation_world/How_lottery_legend_Joan_Ginther_used_odds_Uncle_Sam_to_win_millions.html http://www.philly.com/philly/news/nation_world/How_lottery_l...