Mega Millions 1.6 Billion.. 10.20.18

 
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Is 1.6 Billion Dollars time to buy a lotto ticket just because of the chance?
Yes
92%
 92%  [ 12 ]
No
7%
 7%  [ 1 ]
Total Votes : 13

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ContagiousInspiration
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PostPosted: Sat Oct 20, 2018 1:20 pm    Post subject: Mega Millions 1.6 Billion.. 10.20.18

I don't lotto

But I'll buy one


Quote:

Mega Millions is played in 44 states as well as Washington, D.C., and the U.S. Virgin Islands.

It costs $2 to play the game, but the odds of winning the jackpot aren't good. The chance of matching all six numbers and taking home the grand prize is one in 302.5 million.


https://www.cbsnews.com/amp/news/mega-millions-jackpot-climbs-1-6-billion-after-no-ticket-sold-with-all-winning-numbers-drawing-2018-10-20/
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VicXLakers
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PostPosted: Sat Oct 20, 2018 1:24 pm    Post subject:

I'd drop a double sawski on it if I could
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PostPosted: Sat Oct 20, 2018 2:20 pm    Post subject:

if you can spare a few bucks, i say, go for it.

i've hit 4 numbers a couple times in office pools. almost there!
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cheapedy
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PostPosted: Sat Oct 20, 2018 4:32 pm    Post subject:

My GF and I entered a blog contest to win 4 tix to the Aquarium of the Pacific. There were 5 total entries including us.....winner chosen at random....we didn't win!

Don't buy lottery tickets!
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adkindo
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PostPosted: Sat Oct 20, 2018 5:26 pm    Post subject:

I never buy more than 1. I figure you have to play to win......but I figure if your going to be that extremely lucky, you will probably win with 1. (I know the math does not support this theory).
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lakersken80
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PostPosted: Sat Oct 20, 2018 5:42 pm    Post subject:

The odds are pretty bad at winning the mega millions. I mean everyone in the US can probably buy a ticket with their own unique number combination and they can still miss the numbers that come up.
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JerryMagicKobe
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PostPosted: Sat Oct 20, 2018 10:26 pm    Post subject:

I’ve already spent the winnings.
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dont_be_a_wuss
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PostPosted: Sat Oct 20, 2018 11:07 pm    Post subject:

Does the jump up to 1.6billion mean that people spent over 600M on lotto tickets in the 3-4 days between drawings???
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Omar Little
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PostPosted: Sat Oct 20, 2018 11:35 pm    Post subject:

The odds of winning it are about the same as someone from another country being told that we’ve picked one random person that he has to find. Every ticket is like him walking up to a stranger and asking if they are the person. Your odds go up with each person you ask, but you could do this for a lifetime without getting close.
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tox
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PostPosted: Sun Oct 21, 2018 12:51 am    Post subject:

lakersken80 wrote:
The odds are pretty bad at winning the mega millions. I mean everyone in the US can probably buy a ticket with their own unique number combination and they can still miss the numbers that come up.

I think I saw the expected value peaks at $400M, and earnings higher than that actually see diminished expected value (because the odds decrease at a smaller rate).

Of course, expected value is kind of a useless way of looking at it. If you won $100M you'd basically be as well off as if you won $1.6B. So yeah, the math makes no sense to go for a $1.6B ticket.

That said, it is a different matter entirely to argue that the $5 or however much a ticket costs (never bought one in my life) isn't worth the feeling of irrational hope for a week or whatever. I'll spend $5 so I don't have to walk 20 minutes to pick up food, so what's another $5?
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Raijin
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PostPosted: Sun Oct 21, 2018 5:44 am    Post subject:

tox wrote:
lakersken80 wrote:
The odds are pretty bad at winning the mega millions. I mean everyone in the US can probably buy a ticket with their own unique number combination and they can still miss the numbers that come up.

I think I saw the expected value peaks at $400M, and earnings higher than that actually see diminished expected value (because the odds decrease at a smaller rate).http://forums.lakersground.net/viewforum.php?f=19

Of course, expected value is kind of a useless way of looking at it. If you won $100M you'd basically be as well off as if you won $1.6B. So yeah, the math makes no sense to go for a $1.6B ticket.

That said, it is a different matter entirely to argue that the $5 or however much a ticket costs (never bought one in my life) isn't worth the feeling of irrational hope for a week or whatever. I'll spend $5 so I don't have to walk 20 minutes to pick up food, so what's another $5?

If $5 could buy me irrational hope for a week I would do it in a heartbeat and keep it doing in perpetuity if it held the same effect.
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lakersken80
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PostPosted: Sun Oct 21, 2018 7:00 am    Post subject:

dont_be_a_wuss wrote:
Does the jump up to 1.6billion mean that people spent over 600M on lotto tickets in the 3-4 days between drawings???


Each time the lottery rolls over with no winner, the pot gets bigger. Its great marketing and people spend even more money to try to win from the last drawing. I'm not sure how they calculate it so fast after no winners but I guess they see enough income to increase it by 600 million.
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LarryCoon
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PostPosted: Sun Oct 21, 2018 7:06 am    Post subject:

Omar Little wrote:
The odds of winning it are about the same as someone from another country being told that we’ve picked one random person that he has to find. Every ticket is like him walking up to a stranger and asking if they are the person. Your odds go up with each person you ask, but you could do this for a lifetime without getting close.


And for a real challenge, you'd ask them in alphabetical order.
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