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Some quick back of the envelope calculations suggests that powerball becomes positive estimated value at about 650mil for jackpot or above (though if we want to
by llamataboot 4y ago
Some quick back of the envelope calculations suggests that powerball becomes positive estimated value at about 650mil for jackpot or above (though if we want to discount for taxes, lump sum etc, high than that) but obviously that EV is massively weighted towards one very very very rare event
- jressey 4y agoI've got no qualms with folks who can afford it playing the big jackpots from time to time, especially because the money coming in is typically earmarked for positive social programs.
- warrenm 4y ago>because the money coming in is typically earmarked for positive social programs Ostensibly it's "earmarked" ... but by supposed earmarking, legislatures think they can otherwise defund said "positive social programs" from the general budget
- Night_Thastus 4y agoWhat do you mean by "positive value"? Isn't any winnings positive, regardless how taxed?
- 8note 4y agoPositive expected value. You start negative because you have to pay for the ticket