+EV Lottery!

J

johndoe

Well-Known Member
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)
 
B

bjcount

Well-Known Member
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)
Click to expand...
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
 
J

johndoe

Well-Known Member
Guynoire said:
How do you know it's +EV, don't you have to split the winnings if 2 people have the same numbers?
Click to expand...
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.
 
B

bjcount

Well-Known Member
Guynoire said:
How do you know it's +EV, don't you have to split the winnings if 2 people have the same numbers?
Click to expand...
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

jack.jackson

Well-Known Member
standard toaster said:
omg... that thread made my night... i got a new signature!
see below lol
Click to expand...
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.
 
B

bjcount

Well-Known Member
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
Click to expand...
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

moo321

Well-Known Member
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.
 
S

standard toaster

Well-Known Member
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/)
 
C

callipygian

Well-Known Member
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.
Click to expand...
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.
 
You must log in or register to reply here.
Top