Count plateau

[aslan]

Oh ****, I wish you would of posted this earlier because, I went down to gas station this afternoon and bought 140,000,000 worth of powerball tickets, thinkin I had a 97% of winning. Now you say I only have a 60% chance Im so f***ed!

Look at the bright side. If you bought enough tickets to give yourself a 97% chance, you still might have lost. This way, look at all the money you have saved!! Not only that, you still have a better than 50% chance of winning. Don't worry. Let's wait and see what happens. This will give you something to talk about at the ball that zg is arranging for everyone, except me, that is.

 

[Kasi]

Oh ****, I wish you would of posted this earlier because, I went down to gas station this afternoon and bought 140,000,000 worth of powerball tickets, thinkin I had a 97% of winning. Now you say I only have a 60% chance Im so f***ed!

Hey for a high-roller like you that ain't nothing lol.

Not to mention I'm not even sure it's right since I was assuming buying 1 ticket 140000000 separate times as opposed to buying all 140000000 at once lol.

So, in that scenario, a 62% chance of winning at least once.

But, for sure, obviously buying 145000000 random tickets would not mean you had a 100% chance of winning.

Maybe we better stick to BJ!

 

[EasyRhino]

Yeah, if you just got a million quick picks, then there would be some overlap in numbers, including a few where the numbers might have been identical.

So you'd end up with a range of returns, because for one winning lotto combo, you might have multiple tickets winning multiple amounts.

Of course, if you were the ONLY person buying lotto tickets, and bought 1 million worth, the jackpot you'd have a chance of winning would only be about $500,000

 

[BJinNJ]

Two Points:

1) Isn't this plateau and decline in TC to the point of 'Opposition Betting'?

2) The Virginia lottery was assaulted by an investor group in the early 1990s.
It was a guaranteed winning strategy, if properly executed.

<<In 2006, the Virginia lottery sold more than $1.3 billion in tickets, gave out $773.5 million in prizes and raised $454 million for K-12 education – 10 percent of the state funding. Over the years, there have been some unusual lottery winners.

In 1992, an Australian group, led by professional lottery whiz Stefan Mandel, bought 5.5 million of the possible 7 million ticket combinations possible and won the $27 million jackpot. In the three days before the drawing, 20 representatives of the Lotto Fund of Melbourne, Australia crisscrossed the state snatching up as many of the tickets as possible. The 2,524 investors won $400 a year per each $3,000 unit bought. Needless to say, Virginia tightened the rules on block ticket purchases after that win (“Jackpot! Australian Group Wins Virginia Lottery,” People Weekly, April 6, 1992).
>>

See: http://www.baconsrebellion.com/Issues07/05-28/Curious.php

BJinNJ

 

[SilentBob420BMFJ]

i could be wrong here, but when you let the machine select numbers for you, is it truely random, or is it random without repeating any numbers? think about it, the machine connects via the internet to get your numbers, its not just a RNG, so its checking to make sure it selects one that hasnt been selected right?

so far i know of 3 people who won the lottery for a second time, and of those 6 wins, the smallest one was for $400,000.. the chances of one person winning the lottery twice is 1 in quadrillions, and the chances of it happening 3 times in 10 years is '1 in wtf is going on'