+EV Lottery!

johndoe

Well-Known Member
#1
Today's Mega Millions jackpot is $207 million, and odds of winning are 1 in 175,711,536. I say we get together any buy this baby out!




(yes, I'm joking)
 

bjcount

Well-Known Member
#2
johndoe said:
Today's Mega Millions jackpot is $207 million, and odds of winning are 1 in 175,711,536. I say we get together any buy this baby out!




(yes, I'm joking)
Too Late!!!

I got the winning numbers.

and I.m not sharing them :gun: :cow: :grin:

BJC


well, maybe just three of them .... 7 .... 9 .... 33
 

johndoe

Well-Known Member
#5
Guynoire said:
How do you know it's +EV, don't you have to split the winnings if 2 people have the same numbers?
It was just a joke. Taxes easily kill it, as does the fact that you'd never get anywhere near the full amount as a lump sum.
 

bjcount

Well-Known Member
#6
Guynoire said:
How do you know it's +EV, don't you have to split the winnings if 2 people have the same numbers?
Since I only invested 100 bucks in 5 years, when I win tonight it will be +EV. :grin:

25% of 207 million is okay with me. :)
(207/2= 103.5-50% taxes +/- = 51.75 million)

BJC
 

jack.jackson

Well-Known Member
#8
standard toaster said:
omg... that thread made my night... i got a new signature!
see below lol
Poor Licentia, Poor Licentia,....And He was so proud of that system, that it just breaks my heart, that Sonny came along and destroyed his dreams of someday becoming a millionaire, by locking the thread. I dont think he'll ever be back.
 

bjcount

Well-Known Member
#9
bjcount said:
Too Late!!!

I got the winning numbers.

and I.m not sharing them :gun: :cow: :grin:

BJC


well, maybe just three of them .... 7 .... 9 .... 33
I lost...:cry: again... :cry:
Okay I'm setting up a firing squad to get the guy that gave me the Wrong ticket!. Anyone with me? :gun: :yikes:uh oh :violin: :grin:

BJC
 

moo321

Well-Known Member
#10
That payout is over 30 years. You need to discount the value of the payout, because it won't all come at once. Money now is more valuable than value in 30 years, because you can invest it. It's probably not +EV until a much higher number.
 
#11
right now there is a lawsuit over that $207 mil jackpot
the guys that were pooling together got in an arguement over the winnings
(Dead link: http://www.msnbc.msn.com/id/28379193/)
 

callipygian

Well-Known Member
#12
moo321 said:
That payout is over 30 years. You need to discount the value of the payout, because it won't all come at once. Money now is more valuable than value in 30 years, because you can invest it. It's probably not +EV until a much higher number.
Actually, the lottery will discount it for you, so there's no guesswork. If you're lucky enough to win, you have the option of taking a lesser amount as a lump sum payment immediately.

Also, you have to take into account taxes that you will pay; if you take a lump sum payment, you'll be in the highest tax bracket, and your aggregate tax rate will approach the highest marginal tax rate.
 
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