ChiefsPlanet - Chiefs Mega Millions at $1.1 BILLION

ChiefsPlanet (https://chiefsplanet.com/BB/index.php)

- Nzoner's Game Room (https://chiefsplanet.com/BB/forumdisplay.php?f=1)

- -

Mega Millions at $1.1 BILLION (https://chiefsplanet.com/BB/showthread.php?t=344610)

Quote:

Originally Posted by BigRedChief (Post 16387783)

You quote this post and agree….. I’ll give you $100K if I win. You give me $100K if you win. Deal?

Done.

Quote:

Originally Posted by DaFace (Post 16385605)

Granted, I'm probably one of the most boring people out there when it comes to money. (I invest in index funds, don't gamble, and don't buy lottery tickets.)

But I've never understood why people get so excited to participate when the numbers get crazy high. Even the most modest payouts of a few million dollars would be life changing. The difference in actual happiness between $100 million and $1 billion is almost certainly zero if not less than zero (since you'd have more stress dealing with everyone who wants a piece).

You could argue that the larger the jackpot the less of a bad bet it becomes. I'm not sure this is the case though. Even at 1.2 billion I doubt it is a bet that is one with a positive expected value for the player. Ticket sales go up super linearly with the jackpot size. While an increase in the size of the jackpot adds to a players expected value the more likelihood of ties occurring subtract from it. Lotteries like this are not easy solved gambling problems.

I bought some tickets today. I am almost certain it is still a bad bet.

Quote:

Originally Posted by KChiefs1 (Post 16385695)

You guys realize that the winner is only going to get around $700 million right?

Only if there is no tie. If there are 700 winners they each get a million. You should actually pick a series of sequential numbers that other people are unlikely to pick.

22 23 24 25 26 and mega ball 21

That has just as much chance as winning as any other combination but it is unlikely someone else is going to purposely pick it. The best strategy is to try to minimize the chance of ties.

Quote:

Originally Posted by El Lobo Gordo (Post 16387806)

Only if there is no tie. If there are 700 winners they each get a million. You should actually pick a series of sequential numbers that other people are unlikely to pick.

22 23 24 25 26 and mega ball 21

That has just as much chance as winning as any other combination but it is unlikely someone else is going to purposely pick it.

https://media1.giphy.com/media/mcH0upG1TeEak/200.gif

I'm sending Trump a hundred bucks

Quote:

Originally Posted by BigRedChief (Post 16387783)

You quote this post and agree….. I’ll give you $100K if I win. You give me $100K if you win. Deal?

Deal

Quote:

Originally Posted by El Lobo Gordo (Post 16387806)

Won’t taxes take 1/2? Then another 50% less for taking it as a lump sum?

Quote:

Originally Posted by BigRedChief (Post 16387783)

You quote this post and agree….. I’ll give you $100K if I win. You give me $100K if you win. Deal?

This is a deal. I couldn’t believe the line at Quiktrip this afternoon. Those poor suckers are getting hammered all day with this stuff

Quote:

Originally Posted by BigRedChief (Post 16387814)

Won’t taxes take 1/2? Then another 50% less for taking it as a lump sum?

Yes that’s pretty much how it goes

Quote:

Originally Posted by Pablo (Post 16387818)

Yes that’s pretty much how it goes

I think I’d squeeze by in life with $300 million in the bank.

Quote:

Originally Posted by BigRedChief (Post 16387820)

I think I’d squeeze by in life with $300 million in the bank.

Yeah it would be tough but doable

Quote:

Originally Posted by BigRedChief (Post 16387783)

You quote this post and agree….. I’ll give you $100K if I win. You give me $100K if you win. Deal?

agree

Quote:

Originally Posted by BigRedChief (Post 16387814)

Won’t taxes take 1/2? Then another 50% less for taking it as a lump sum?

Sure, but keep in mind ff you are a professional gambler you can write of the cost of the tickets on your taxes. All these factors go into determining if it is a good bet or not.

I knew a venture capitalist - was on the cover of Fortune. He said fools take the lump sum. I took his word for it.

Im going to purchase chiefs planut if i win