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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 11-28-2012, 05:35 PM   #106
JASONSAUTO JASONSAUTO is offline
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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.
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Old 11-28-2012, 05:41 PM   #107
BigMeatballDave BigMeatballDave is online now
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Originally Posted by Rain Man View Post
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.
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Old 11-28-2012, 05:47 PM   #108
JoeyChuckles JoeyChuckles is offline
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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?
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Old 11-28-2012, 05:52 PM   #109
BigRedChief BigRedChief is online now
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Anything is infinitely better than zero
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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.
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Old 11-28-2012, 05:53 PM   #110
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I love when the planet gets in a math fight. People get more passionate about the math than they do the Chiefs.
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Old 11-28-2012, 05:54 PM   #111
KC Tattoo KC Tattoo is offline
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Originally Posted by Rain Man View Post
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!
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Old 11-28-2012, 05:54 PM   #112
BigRedChief BigRedChief is online now
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Originally Posted by Dave View Post
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
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Old 11-28-2012, 05:55 PM   #113
Pestilence Pestilence is online now
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I'd gladly take $215 million in one lump sum.
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Old 11-28-2012, 05:56 PM   #114
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Old 11-28-2012, 05:56 PM   #115
BigRedChief BigRedChief is online now
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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?
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Old 11-28-2012, 05:59 PM   #116
BigRedChief BigRedChief is online now
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I'd gladly take $215 million in one lump sum.
Would you make Austin Chief an offer he couldn't refuse?
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Old 11-28-2012, 06:04 PM   #117
Bwana Bwana is offline
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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.
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Old 11-28-2012, 06:05 PM   #118
JASONSAUTO JASONSAUTO is offline
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Originally Posted by BigRedChief View Post
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.
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Old 11-28-2012, 06:06 PM   #119
BigRedChief BigRedChief is online now
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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.
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Old 11-28-2012, 06:07 PM   #120
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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.
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