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Old 11-27-2012, 11:31 AM  
Deberg_1990 Deberg_1990 is offline
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Powerball jackpot.....500 million and growing!

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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.
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Old 11-27-2012, 08:20 PM   #76
Braincase Braincase is offline
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Originally Posted by displacedinMN View Post
odds are 1 in 175,000,000

IF I have done my math right:
175,000,000 nickels stacked up would run over 130 miles.

you have to pick the one nickel that is the winning nickel.

Yet we still play.
Because the odds of winning when buying a ticket are infinitely greater than your chances when you don't.
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Old 11-27-2012, 08:32 PM   #77
Dr. Gigglepants Dr. Gigglepants is offline
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Because the odds of winning when buying a ticket are infinitely greater than your chances when you don't.
I have a stat phd friend who told me that your chances of winning are about the same whether you buy a ticket or not. I don't pretend to understand fancy numbers and probabilities and such, but somehow I think you're both probably right.
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Old 11-27-2012, 08:33 PM   #78
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Originally Posted by Dr. Gigglepants View Post
I have a stat phd friend who told me that your chances of winning are about the same whether you buy a ticket or not. I don't pretend to understand fancy numbers and probabilities and such, but somehow I think you're both probably right.
I can understand this reasoning from a money standpoint, but I still feel like .00001% is still much greater than .00%
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Old 11-27-2012, 08:34 PM   #79
Dr. Gigglepants Dr. Gigglepants is offline
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Originally Posted by Discuss Thrower View Post
I can understand this reasoning from a money standpoint, but I still feel like .00001% is still much greater than .00%
I still bought my ticket.
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Old 11-27-2012, 08:35 PM   #80
JASONSAUTO JASONSAUTO is online now
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Originally Posted by Dr. Gigglepants View Post
I have a stat phd friend who told me that your chances of winning are about the same whether you buy a ticket or not. I don't pretend to understand fancy numbers and probabilities and such, but somehow I think you're both probably right.
ummmm I understand what he's saying somewhat but people that have bought a ticket HAVE won statistics be damned, NO ONE that didn't but a ticket has ever won.
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Old 11-27-2012, 08:37 PM   #81
JASONSAUTO JASONSAUTO is online now
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And ftr I have bought a ticket every time I've walked into a gas station for the last week or two
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Old 11-27-2012, 08:42 PM   #82
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Bought my ticket. If I win, I'll fund CP for the rest of time.
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Old 11-27-2012, 08:47 PM   #83
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Bought my ticket. If I win, I'll fund CP for the rest of time.
If you win, you could buy the Chiefs and Fire Pioli yourself.
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Old 11-27-2012, 08:48 PM   #84
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If you win, you could buy the Chiefs and Fire Pioli yourself.
Firing Pioli myself would be the greatest honor of my life.
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Old 11-27-2012, 08:49 PM   #85
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Old 11-27-2012, 09:05 PM   #86
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Originally Posted by Dr. Gigglepants View Post
I still bought my ticket.
FWIW my stats teacher in High School sort of gave tacit approval of buying at least one ticket once a jackpot got to such a large amount because it's almost foolish to at least not take a shot/
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Old 11-27-2012, 09:09 PM   #87
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Old 11-27-2012, 09:28 PM   #88
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Old 11-27-2012, 09:43 PM   #89
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Old 11-27-2012, 09:44 PM   #90
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We matched three numbers. Is that worth anything?
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