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Dilemma: 100% guarantee win of Louisiana Lottery, or 40% chance to win Powerball
Posted on 2/18/14 at 11:32 am
Posted on 2/18/14 at 11:32 am
For the next drawing, the Louisiana Lottery "Lotto" stands at $975,000.00. Powerball is $400 million annuity/$228 million cash.
You are given the choice:
Guaranteed to win the Lotto as the sole winner
OR
a 40% chance to win the Powerball as the sole winner (as opposed to the astronomical odds of winning).
Which would you take?
You are given the choice:
Guaranteed to win the Lotto as the sole winner
OR
a 40% chance to win the Powerball as the sole winner (as opposed to the astronomical odds of winning).
Which would you take?
31
Posted on 2/18/14 at 11:32 am to udtiger
Give me the sure thing every single time!
Posted on 2/18/14 at 11:33 am to udtiger
give me the million, and I'll survive just fine on that.
Posted on 2/18/14 at 11:33 am to gjackx
quote:
Give me the sure thing every single time!
Yeah this question is dumb. Sure thing.
This post was edited on 2/18/14 at 11:34 am
Posted on 2/18/14 at 11:33 am to udtiger
$975K guaranteed easily.
Posted on 2/18/14 at 11:33 am to udtiger
Uh I'll take guaranteed money every time.
Posted on 2/18/14 at 11:33 am to udtiger
give me the million. It would go a long way towards helping me start my life after I graduate.
Posted on 2/18/14 at 11:33 am to udtiger
Louisiana Lotto without a doubt.
Posted on 2/18/14 at 11:34 am to gjackx
Gotta go sure thing.
Invest it, I don't need no 228 million, although that would be awesome
Invest it, I don't need no 228 million, although that would be awesome
Posted on 2/18/14 at 11:34 am to udtiger
quote:
Guaranteed to win the Lotto as the sole winner
Anytime.
It may not be "frick you" money, but its enough to change your life.
Posted on 2/18/14 at 11:34 am to udtiger
powerball. I like those odds.
$975k would be very nice but likely would not change my life significantly. I'd still have to work my arse off to get where I want to be in life.
Powerball would get me there instantly, and 40% odds on that kind of money is the best investment you would ever come across.
$975k would be very nice but likely would not change my life significantly. I'd still have to work my arse off to get where I want to be in life.
Powerball would get me there instantly, and 40% odds on that kind of money is the best investment you would ever come across.
Posted on 2/18/14 at 11:35 am to udtiger
228,000,000 * 40% = 91,200,000
975,000 * 100% = 975,000
the numbers say go with the 40% chance
975,000 * 100% = 975,000
the numbers say go with the 40% chance
Posted on 2/18/14 at 11:35 am to udtiger
40% chance of winning Powerball is an expected value of $160 million. Obviously much, much better than LA Lottery.
So I would pick the Powerball but sell my rights to the winnings to an investing consortium for $120 million. That way I'm guaranteed $120 million and someone else can roll the dice.
So I would pick the Powerball but sell my rights to the winnings to an investing consortium for $120 million. That way I'm guaranteed $120 million and someone else can roll the dice.
Posted on 2/18/14 at 11:36 am to udtiger
A bird in the hand is worth two in the bush.
Posted on 2/18/14 at 11:36 am to udtiger
quote:
Guarantee
Posted on 2/18/14 at 11:36 am to foshizzle
How is this a dilemma anyway?
I highly doubt you've been given this option.
I highly doubt you've been given this option.
Posted on 2/18/14 at 11:37 am to iAmBatman
I have a
.0001% chance at winning the Louisiana Lotto
and a .000000000001% chance at winning the powerball.
Guess which one I buy tickets for sometimes, and which one I have never bought a ticket for.
.0001% chance at winning the Louisiana Lotto
and a .000000000001% chance at winning the powerball.
Guess which one I buy tickets for sometimes, and which one I have never bought a ticket for.
Posted on 2/18/14 at 11:37 am to udtiger
Money in the bank
Posted on 2/18/14 at 11:37 am to udtiger
Powerball
The LA lottery is not enough money to take care of my entire family.
The LA lottery is not enough money to take care of my entire family.
Posted on 2/18/14 at 11:37 am to DirtyMikeandtheBoys
quote:
$975k would be very nice but likely would not change my life significantly. I'd still have to work my arse off to get where I want to be in life.
Only if you're an idiot and blow it all in a month.
quote:
Powerball would get me there instantly, and 40% odds on that kind of money is the best investment you would ever come across
Never mind the 60% chance of nothing happening.
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