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Started By
Message
re: How to win the lottery, according to a Romanian-born mathematician who won 14 times
Posted on 7/13/23 at 4:12 pm to teke184
Posted on 7/13/23 at 4:12 pm to teke184
quote:
1 in 302,575,350
quote:
1 in 292,201,338
The Powerball is so much easier. lol
I do buy tickets when the cash, net of taxes is high enough - like now. I don't waste money on such of anything else and I would guess I have spent under $1,000 in my lifetime on tickets since the Powerball started.
Just fun to imagine what to do with that kind of money lying around.
0
Posted on 7/13/23 at 4:16 pm to TeddyPadillac
Let's look at Louisiana's Easy 5.
5 numbers from 1-37
435,897 combinations
if you bought every ticket you would win the jackpot, as well as:
$16,000 matching 4
$34,671 matching 3
$48,433 matching 2
so on top of the jackpot, you win an additional $99,104
You spend $436K in tickets, jackpot needs to be at least $726K for you to make a profit as the only winner, factoring in a 40% tax rate (i'm guessing at tax rate). and that profit is just the $99,104.
If the jackpot is 3x's the combinations, then you would win $885K after taxes, then you subtract your $436K in tickets so you walk away with right at $450K.
If two people win that jackpot of $1.31M, then you win $491K after taxes, and you walk away with just $55k.
If 3 people win, you're screwed.
and the problem with all of that..... the highest the jackpot for the Easy 5 in LA in the last 10 years has been $600K.
5 numbers from 1-37
435,897 combinations
if you bought every ticket you would win the jackpot, as well as:
$16,000 matching 4
$34,671 matching 3
$48,433 matching 2
so on top of the jackpot, you win an additional $99,104
You spend $436K in tickets, jackpot needs to be at least $726K for you to make a profit as the only winner, factoring in a 40% tax rate (i'm guessing at tax rate). and that profit is just the $99,104.
If the jackpot is 3x's the combinations, then you would win $885K after taxes, then you subtract your $436K in tickets so you walk away with right at $450K.
If two people win that jackpot of $1.31M, then you win $491K after taxes, and you walk away with just $55k.
If 3 people win, you're screwed.
and the problem with all of that..... the highest the jackpot for the Easy 5 in LA in the last 10 years has been $600K.
Posted on 7/13/23 at 4:24 pm to TheWalrus
quote:frick that, get some dude to take them out for half of their would-be half.
multiple winners splitting top prize
Eta
Or chick...
If the winner is a straight male and you need to use beauty to get close.
Equal opportunity.
This post was edited on 7/13/23 at 4:27 pm
Posted on 7/13/23 at 4:35 pm to LivingstonLaw
Just watched a movie about a retiree in Michigan that did something similar. Bryan Cranston played him. Annette Benning played his wife. Was decent (I was on a flight so my standards are pretty low).
Posted on 7/13/23 at 4:42 pm to LivingstonLaw
Obviously he isn't familiar with Uncle Sam
Posted on 7/13/23 at 4:43 pm to dirtsandwich
quote:was she a bitch to him? But easily spent his money?
Bryan Cranston played him. Annette Benning played his wife.
Posted on 7/13/23 at 6:08 pm to LivingstonLaw
I’m just glad we had a mathematician to tell us that the best way to win the lottery is.. to buy every possible combination.
Wait until you hear about his roulette strategy.
Wait until you hear about his roulette strategy.
Posted on 7/13/23 at 6:10 pm to lostinbr
Multi billion dollar lotteries didn't see it coming!
Posted on 7/13/23 at 6:19 pm to LivingstonLaw
quote:
Mandel pocketed $97,000 after a $1.3 million win in 1987.)
You have to realize back in 1987 there was no powerball or mega millions so the combinations back then were a little easier to win. Now with 5 white balls going to 1-70 and single color ball 1-25 at 2 dollars a ticket, that is over 302 million combinations and 605 million dollars needed to buy every combination. That is a lot of paper and a lot of slips to fill out and an army of buyers buying tickets.
Posted on 7/13/23 at 6:47 pm to teke184
quote:
The odds in MegaMillions are 1 in 302,575,350, meaning you need roughly a $1b payout for it to pay off.
2 dollar per play means it would cost 605 million to purchase all combinations. With lump sum payout and taxes it would need to be almost 2bn
Also who is going to check all the tickets for the countless small prize winnings?
It’s not feasible with the powerball or mega millions. If jackpot gets that high it’s unlikely you’re the only winner. I can see it working on the smaller state lotteries though because they rarely have two winners. It’s still a gamble though to profit on it
Posted on 7/13/23 at 6:52 pm to teke184
quote:You can cut down these odds considerably if you consider only buying “probable” combinations of numbers.
The odds in MegaMillions are 1 in 302,575,350, meaning you need roughly a $1b payout for it to pay off. Powerball’s odds are comparable at about 1 in 292,201,338.
For example:
Not buying combinations with more than 3 consecutive numbers, not buying combinations where all the numbers are below 20, etc, etc, etc
Posted on 7/13/23 at 7:02 pm to LivingstonLaw
Is this “mathematician’s” advice simply to buy all the tickets?
Posted on 7/13/23 at 10:31 pm to bass
quote:
Not buying combinations with more than 3 consecutive numbers, not buying combinations where all the numbers are below 20, etc, etc, etc
Like all statistics, if you did that and the numbers fell into those crazy outcomes, you could be out several hundred million and miss the jackpot.
Also, if too many of the smaller prizes are won, sometimes they will become parimutuel and they will be split like the jackpot.
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