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Started By
Message
re: No Mega Millions winner, Pot now at 1.6 Billion
Posted on 10/20/18 at 8:10 am to Fun Bunch
Posted on 10/20/18 at 8:10 am to Fun Bunch
quote:
It’s 702 million after taxes
The Mega Millions site has the lump sum at $904MM. That's $570MM after federal taxes only.
This post was edited on 10/20/18 at 8:12 am
3
Posted on 10/20/18 at 8:11 am to tLSU
quote:
Aren't there around 300 million possible combinations of numbers? So technically, you could buy every possible combination and come out ahead.
It takes approx five seconds to fill out each card, so you'd need almost 28 years just to mark the bubbles on the game tickets. You'd also use up the national supply of special lottery paper and lottery-machine printing ink well before all your tickets could be printed out.
Posted on 10/20/18 at 8:11 am to tLSU
quote:
Aren't there around 300 million possible combinations of numbers? So technically, you could buy every possible combination and come out ahead.
Sweet I'll just put it on my amex black
This post was edited on 10/20/18 at 8:12 am
Posted on 10/20/18 at 8:12 am to John Casey
quote:
You'd also use up the national supply of special lottery paper and lottery-machine printing ink well before all your tickets could be printed out.
It's far too much for one person to buy, but I'm confident 300+ million tickets will be bought across the country.
Posted on 10/20/18 at 8:12 am to ell_13
quote:
quote:
It’s 702 million after taxes
Also wrong.
Whatever the number is it is an utter fraud.
$1.6 billion!
That's like summing up all of your mortgage payments and saying that is what your house is worth.
Then take out another whack for taxes.
Posted on 10/20/18 at 8:13 am to slackster
quote:
the expected value of a ticket is now positive
Only if you do the calculation based on the current pot and drawing, and not the drawings required to get the pot this high.
Otherwise, it is always negative.
This post was edited on 10/20/18 at 8:13 am
Posted on 10/20/18 at 8:13 am to slackster
It's about 540 if you live in LA
Posted on 10/20/18 at 8:13 am to slackster
Did you account for marginal rates? Huh?
Posted on 10/20/18 at 8:13 am to John Casey
quote:now this is the part where you're just making shite up.
You'd also use up the national supply of special lottery paper and lottery-machine printing ink well before all your tickets could be printed out.
Posted on 10/20/18 at 8:14 am to gthog61
quote:It's the gross worth of the pot if you take the annuity. I wouldn't call the fraud but it certainly paints the rosiest picture possible.
$1.6 billion!
That's like summing up all of your mortgage payments and saying that is what your house is worth.
Posted on 10/20/18 at 8:15 am to ell_13
I'm in the "take the annuity to protect me from myself" camp
Posted on 10/20/18 at 8:16 am to PrivatePublic
quote:
Only if you do the calculation based on the current pot and drawing, and not the drawings required to get the pot this high.
Otherwise, it is always negative.
Well yeah, you're not obligated to play every drawing though.
Thisnis what those people in Michigan and Massachusetts would do on the state lotteries - wait until the expected value was positive and then buy hundreds of thousands dollars worth of tickets.
Posted on 10/20/18 at 8:17 am to ell_13
Nope. I am correct. It’s 702.8 after taxes in Louisiana.
Posted on 10/20/18 at 8:18 am to GRTiger
quote:
Did you account for marginal rates? Huh?
, your federal tax effective rate is like .369999%. Those lower tax brackets are barely a blip. Posted on 10/20/18 at 8:18 am to Fun Bunch
quote:
Nope. I am correct. It’s 702.8 after taxes in Louisiana.
You're not correct. Trust me.
Posted on 10/20/18 at 8:19 am to slackster
Love how we are arguing about winning 1.6 billion
Posted on 10/20/18 at 8:19 am to slackster
The internet says I am
Posted on 10/20/18 at 8:19 am to Fun Bunch
Posted on 10/20/18 at 8:19 am to slackster
I know 
Posted on 10/20/18 at 8:20 am to slackster
You can figure if you take the lump sum that you would end up with around 25=35%. Still not bad.
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