Money Powerball jackpot.....500 million and growing! - Page 8

Deberg_1990 · 11-27-2012, 12:31 PM

Will you partake?

http://abcnews.go.com/Business/power...ry?id=17812739

The jackpot for Wednesday's Powerball drawing now stands at $500 million -- the richest Powerball pot ever -- and it's likely to get even sweeter.

"Back in January, we moved Powerball from being a $1 game to $2," says Mary Neubauer, a spokeswoman for the Iowa lottery. "We thought at the time that this would mean bigger and faster-growing jackpots."

It's proved true. The total, she says, "has been taking huge jumps -- another $100 million since Saturday." (The most recent drawing, on Saturday night, produced no winning numbers.)

Until now, the biggest Powerball pot on record -- $365 million -- was won in 2006 by eight Lincoln, Neb., co-workers.

In Photos: Biggest Lotto Jackpot Winners

Lottery officials in Iowa, where Powerball is headquartered, have started getting phone calls from all around the world. "When it gets this big," says Neubauer, "we start getting inquiries from Canada and Europe from people wanting to know if they can buy a ticket. They ask if they can FedEx us the money."

The answer she has to give them, she says, is: "Sorry, no. You have to buy a ticket in a member state from a licensed retail location."

About 80 percent of players don't choose their own Powerball number, opting instead for a computer-generated one.

Asked if there's anything players can do to improve their odds of winning, Neubauer says no -- apart from buying a ticket, of course.

Lottery officials put the odds of winning Wednesday's Powerball pot at one in 175 million, meaning you are 25 times more likely to win an Academy Award.

Skip Garibaldi, a professor of mathematics at Emory University in Atlanta, provides additional perspective: You are three times more likely to die from a falling coconut, he says; seven times more likely to die from fireworks, "and way more likely to die from flesh-eating bacteria" (115 fatalities a year) than you are to win the Powerball lottery.

Segueing, then, from death to life, Garibaldi notes that even the best physicians, equipped with the most up-to-date equipment, can't predict the timing of a child's birth with much accuracy.

"But let's suppose, however, that your doctor managed to predict the day, the hour, the minute and the second your baby would be born," Garibaldi says. The doctor's uncanny prediction would be "at least 100 times" more likely than your winning Wednesday.

Even though he knows the odds all too well, Garibaldi says he'll usually play the lottery. "When it gets this big, I'll buy a couple of tickets. It's kind of exciting. You get this feeling of anticipation. You get to think about the fantasy."

So will he be purchasing two tickets for Wednesday's Powerball? "I can't," he tells ABC News. "I'm in California" -- one of eight states that doesn't offer Powerball.

**SAUTO** · 11-28-2012, 06:35 PM

Quote:

Originally Posted by Rain Man

I'd have a hard time trusting anyone to hold the money in one spot or through one payment. I'd just say, "Give it to me and I'll take it from here."

This.
Posted via Mobile Device

**BigMeatballDave** · 11-28-2012, 06:41 PM

Quote:

Originally Posted by Rain Man

I'd have a hard time trusting anyone to hold the money in one spot or through one payment. I'd just say, "Give it to me and I'll take it from here."

I would if it were a smaller amount.

$200 million is a lot to keep track of.

JoeyChuckles · 11-28-2012, 06:47 PM

Quote:

Originally Posted by alnorth

Out of curiosity, I checked the math on that.

Its true, barely.

I was about to check that out too. It still doesn't sound right in my head. Can I trust your math skills?

**BigRedChief** · 11-28-2012, 06:52 PM

Quote:

Originally Posted by JASONSAUTO

Anything is infinitely better than zero
Posted via Mobile Device

Best description I've heard to correlate the log odds....... an okay one was hitting two holes in one on a par 3 course but my fav............lay nickels end to end from LA to NY. Mark on of those nickels. You get one chance to pick that marked nickel.

JoeyChuckles · 11-28-2012, 06:53 PM

I love when the planet gets in a math fight. People get more passionate about the math than they do the Chiefs.

Rasputin · 11-28-2012, 06:54 PM

Quote:

Originally Posted by Rain Man

I'd have a hard time trusting anyone to hold the money in one spot or through one payment. I'd just say, "Give it to me and I'll take it from here."

It's MY money and I want it NOW!

**BigRedChief** · 11-28-2012, 06:54 PM

Quote:

Originally Posted by Dave

I would if it were a smaller amount.

$200 million is a lot to keep track of.

Here's what I heard from our groups leader today. He takes this lottery shit seriously.

Current Jackpot = 550 million
Lump Sum = 325 million
Taxes = 90 million

Take home free and clear = 215 million

**The Franchise** · 11-28-2012, 06:55 PM

I'd gladly take $215 million in one lump sum.

**The Franchise** · 11-28-2012, 06:56 PM

California doesn't participate in Powerball.

**BigRedChief** · 11-28-2012, 06:56 PM

Quote:

Originally Posted by Dave

I'd take annual payments.

No chance. What if the government or state goes bankrupt and they just change the law. What if the $ loses its value?

**BigRedChief** · 11-28-2012, 06:59 PM

Quote:

Originally Posted by Pestilence

I'd gladly take $215 million in one lump sum.

Would you make Austin Chief an offer he couldn't refuse?

**Bwana** · 11-28-2012, 07:04 PM

Quote:

Originally Posted by Pestilence

I'd gladly take $215 million in one lump sum.

I will be 365M now. I bet there will be at least two winners at this point with the volume of tickets sold.

**SAUTO** · 11-28-2012, 07:05 PM

Quote:

Originally Posted by BigRedChief

Best description I've heard to correlate the log odds....... an okay one was hitting two holes in one on a par 3 course but my fav............lay nickels end to end from LA to NY. Mark on of those nickels. You get one chance to pick that marked nickel.

Again anything is infinitely more than zero.
Posted via Mobile Device

**BigRedChief** · 11-28-2012, 07:06 PM

Quote:

Originally Posted by Bwana

I will be 365M now. I bet there will be at least two winners at this point with the volume of tickets sold.

Our group lead says a 75% of one ticket sold tonight. 55% of at least two of the same #'s sold.

**Rain Man** · 11-28-2012, 07:07 PM

Quote:

Originally Posted by Dave

I would if it were a smaller amount.

$200 million is a lot to keep track of.

I'd probably make a spreadsheet or something.

11-27-2012, 12:31 PM
Deberg_1990 In Search of a Life Join Date: Jan 2004 Location: San Antonio Tx. Casino cash: $3914454	Powerball jackpot.....500 million and growing! Will you partake? http://abcnews.go.com/Business/power...ry?id=17812739 The jackpot for Wednesday's Powerball drawing now stands at $500 million -- the richest Powerball pot ever -- and it's likely to get even sweeter. "Back in January, we moved Powerball from being a $1 game to $2," says Mary Neubauer, a spokeswoman for the Iowa lottery. "We thought at the time that this would mean bigger and faster-growing jackpots." It's proved true. The total, she says, "has been taking huge jumps -- another $100 million since Saturday." (The most recent drawing, on Saturday night, produced no winning numbers.) Until now, the biggest Powerball pot on record -- $365 million -- was won in 2006 by eight Lincoln, Neb., co-workers. In Photos: Biggest Lotto Jackpot Winners Lottery officials in Iowa, where Powerball is headquartered, have started getting phone calls from all around the world. "When it gets this big," says Neubauer, "we start getting inquiries from Canada and Europe from people wanting to know if they can buy a ticket. They ask if they can FedEx us the money." The answer she has to give them, she says, is: "Sorry, no. You have to buy a ticket in a member state from a licensed retail location." About 80 percent of players don't choose their own Powerball number, opting instead for a computer-generated one. Asked if there's anything players can do to improve their odds of winning, Neubauer says no -- apart from buying a ticket, of course. Lottery officials put the odds of winning Wednesday's Powerball pot at one in 175 million, meaning you are 25 times more likely to win an Academy Award. Skip Garibaldi, a professor of mathematics at Emory University in Atlanta, provides additional perspective: You are three times more likely to die from a falling coconut, he says; seven times more likely to die from fireworks, "and way more likely to die from flesh-eating bacteria" (115 fatalities a year) than you are to win the Powerball lottery. Segueing, then, from death to life, Garibaldi notes that even the best physicians, equipped with the most up-to-date equipment, can't predict the timing of a child's birth with much accuracy. "But let's suppose, however, that your doctor managed to predict the day, the hour, the minute and the second your baby would be born," Garibaldi says. The doctor's uncanny prediction would be "at least 100 times" more likely than your winning Wednesday. Even though he knows the odds all too well, Garibaldi says he'll usually play the lottery. "When it gets this big, I'll buy a couple of tickets. It's kind of exciting. You get this feeling of anticipation. You get to think about the fantasy." So will he be purchasing two tickets for Wednesday's Powerball? "I can't," he tells ABC News. "I'm in California" -- one of eight states that doesn't offer Powerball.
Posts: 66,914

11-28-2012, 06:53 PM	#110
JoeyChuckles Bring It Home Join Date: Jun 2010 Location: North Haverbrook Casino cash: $10007012	I love when the planet gets in a math fight. People get more passionate about the math than they do the Chiefs.
Posts: 4,322

11-28-2012, 06:55 PM	#113
The Franchise Most Valuable Villain Join Date: Dec 2006 Casino cash: $3155047	I'd gladly take $215 million in one lump sum.
Posts: 91,960

11-28-2012, 06:56 PM	#114
The Franchise Most Valuable Villain Join Date: Dec 2006 Casino cash: $3155047	California doesn't participate in Powerball.
Posts: 91,960