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   Powerball is back in the headlines. No, not Lance Armstrong

24 Nov 2012 01:33 PM   |   6815 clicks   |   Komo
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I'm an excellent driver     
The Lotto - A triumph of hope over statistical probability

24 Nov 2012 01:35 PM
The Angry Hand of God     
Excellent. I was getting bored of trampling people at Wal-Mart. Now I can do it at the gas station too!

24 Nov 2012 01:36 PM
Lord Rust     
Not bad, subby, not bad :)

24 Nov 2012 01:37 PM
viscountalpha     
a fool and his money.. ohh more black friday deals!

24 Nov 2012 01:38 PM
Show_The_O_Face     
This headline delivers.

24 Nov 2012 01:45 PM
MFAWG    [TotalFark]  

I'm an excellent driver: The Lotto - A triumph of hope over statistical probability


Can't win if you don't play!

Why yes I DID just buy 10 bucks worth. Why do you ask?

24 Nov 2012 01:57 PM
NeoCortex42     

MFAWG: I'm an excellent driver: The Lotto - A triumph of hope over statistical probability

Can't win if you don't play!

Why yes I DID just buy 10 bucks worth. Why do you ask?


Exactly. I realize that spending a couple bucks on lottery tickets is pretty much the same as just burning the bills, but it's still worth it for that longshot chance of being set for life.

24 Nov 2012 01:59 PM
tzzhc4     
i.crackedcdn.comView Full Size

24 Nov 2012 01:59 PM
germ78     
Powerball still wasn't as good as Goldeneye.

24 Nov 2012 02:03 PM
MFAWG    [TotalFark]  

NeoCortex42: MFAWG: I'm an excellent driver: The Lotto - A triumph of hope over statistical probability

Can't win if you don't play!

Why yes I DID just buy 10 bucks worth. Why do you ask?

Exactly. I realize that spending a couple bucks on lottery tickets is pretty much the same as just burning the bills, but it's still worth it for that longshot chance of being set for life.


I was thinking about buying twenty bucks worth. You're saying I should burn the other instead?

For the LULZ?

24 Nov 2012 02:05 PM
Lt. Cheese Weasel    [TotalFark]  
Throw a buck at it. What the hell? Most of you have more than that in your sofa cushjons so quit with the 'this is so stupid, I'm smarter than everyone else with my money' bullshiat.

24 Nov 2012 02:05 PM
mephisto6    [TotalFark]  
I need some blank DVDs. Is Best Buy safe yet?

24 Nov 2012 02:07 PM
sure haven't     
The standard 3 million prize isn't good enough, it's only REALLY worth it if the prize is the GDP of a small country.

Whatever happened to that fat train engineer in MI who won the last one? I'll be honestly very impressed if he hasn't most it all yet to hookers, robberies, Vegas, etc.

24 Nov 2012 02:08 PM
sure haven't     

sure haven't: The standard 3 million prize isn't good enough, it's only REALLY worth it if the prize is the GDP of a small country.

Whatever happened to that fat train engineer in MI who won the last one? I'll be honestly very impressed if he hasn't most it all yet to hookers, robberies, Vegas, etc.


Lost, not "most".

/must be the heroin I'm on

24 Nov 2012 02:10 PM
Stepqhen     
The way I look at it, I can drop $10 bucks and spend a couple of days where winning is actually a (grotesquely remote) possibility. Spending a couple of days thinking of how I would quit, what I would do with the first check, where I would go to celebrate, etc is entertainment worth every penny.

24 Nov 2012 02:10 PM
Lt. Cheese Weasel    [TotalFark]  

germ78: Powerball still wasn't as good as Goldeneye.


mediafiles.cineplex.comView Full Size


'Schtopp it.'

24 Nov 2012 02:11 PM
Dow Jones and the Temple of Doom     
The same people who make fun of lotto players probably buy bottled water and don't regularly check the air pressure in their tires. Heh

24 Nov 2012 02:15 PM
Mr. Eugenides     

Stepqhen: The way I look at it, I can drop $10 bucks and spend a couple of days where winning is actually a (grotesquely remote) possibility. Spending a couple of days thinking of how I would quit, what I would do with the first check, where I would go to celebrate, etc is entertainment worth every penny.


Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

24 Nov 2012 02:17 PM
whither_apophis     
The odds the asteroid Apophis will impact the Earth in 2036: ~1 in 250,000. Powerball odds: 1 in 175,223,510.

/BOOM Earthshot!
//I'm in $4.

24 Nov 2012 02:22 PM
Zoomaster     
Yes I know the chances, I can blow $30 or so a year dreaming.

/1 ticket when it is over $100 mil
//2 tickets when over $200 mil
///3 at $300 mil

24 Nov 2012 02:23 PM
mephisto6    [TotalFark]  
I get one here & there when I think of it, but only at minimum entry (last one was 2 bucks - when did that happen?). Still get the same dream and sinking $20 will hardly increase my odds a measurable amount (certainly less than the 20% from the week's booze budget).

24 Nov 2012 02:23 PM
GRCooper     

Mr. Eugenides: Stepqhen: The way I look at it, I can drop $10 bucks and spend a couple of days where winning is actually a (grotesquely remote) possibility. Spending a couple of days thinking of how I would quit, what I would do with the first check, where I would go to celebrate, etc is entertainment worth every penny.

Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.


Yeah, a $12m jackpot is "I could live a comfortable middle class lifestyle in a not too expensive part of the country"

$325m is "dream life" fantasies

/that's worth $2 to me

24 Nov 2012 02:23 PM
New Age Redneck     
vulpeslibris.files.wordpress.comView Full Size

24 Nov 2012 02:25 PM
OtherBrotherDarryl    [TotalFark]  
Look up "utility theory" lotto haters. I'm in for $10.

24 Nov 2012 02:25 PM
ImpendingCynic     

Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.


Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.

24 Nov 2012 02:27 PM
The Angry Hand of God     
We should all put in $5 and buy tickets. If anyone wins, it gets split. Of course you will have to take a picture of your lottery ticket before it happens, to prevent cheating.

24 Nov 2012 02:29 PM
NeoCortex42     

mephisto6: I get one here & there when I think of it, but only at minimum entry (last one was 2 bucks - when did that happen?). Still get the same dream and sinking $20 will hardly increase my odds a measurable amount (certainly less than the 20% from the week's booze budget).


The price went up this past January. The idea was to have bigger jackpots more often and to help distinguish itself from MegaMillions. So far, it seems to have been a pretty good plan. This is the second or third jackpot over $300M just this year.

24 Nov 2012 02:29 PM
New Age Redneck     
The bingo the lotto you know I'll never win those....

/must be stopped

24 Nov 2012 02:29 PM
NeoCortex42     

ImpendingCynic: Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.


The advantage of more is that investment becomes much easier. Hell, with $130M you could do nothing more than buy T-Bonds and live like a king on interest alone.

24 Nov 2012 02:31 PM
The All-Powerful Atheismo     
with 1 in 175 million odds, it's only worth it if the jackpot goes up to 350 million and there is only one winner. Multiple winners make it less worth it and the chances of that can't be known without knowing how many tickets are sold.

24 Nov 2012 02:32 PM
sure haven't     

ImpendingCynic: Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.


I agree 100%.
The thought of winning a quarter billion dollars frightens me. People dont understand the enormous life issues that come along with that.

24 Nov 2012 02:35 PM
Mr. Eugenides     

ImpendingCynic: Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.


I'd like to think I'd go all Bill Gates with it.

24 Nov 2012 02:37 PM
MFAWG    [TotalFark]  

sure haven't: ImpendingCynic: Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.

I agree 100%.
The thought of winning a quarter billion dollars frightens me. People dont understand the enormous life issues that come along with that.


How much therapy can one buy with a quarter billion dollars? Enough to work through those issues, I'll wager.

24 Nov 2012 02:38 PM
NeoCortex42     

MFAWG: sure haven't: ImpendingCynic: Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.

I agree 100%.
The thought of winning a quarter billion dollars frightens me. People dont understand the enormous life issues that come along with that.

How much therapy can one buy with a quarter billion dollars? Enough to work through those issues, I'll wager.


Not to mention, being able to basically disappear if you chose to.

24 Nov 2012 02:40 PM
GRCooper     

sure haven't: ImpendingCynic: Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.

I agree 100%.
The thought of winning a quarter billion dollars frightens me. People dont understand the enormous life issues that come along with that.


Last time this thread popped up, someone posted a link to a thread with some very good advice on the subject

/from ar15.com I think

24 Nov 2012 02:42 PM
Current Resident    [TotalFark]  

Mr. Eugenides: The fun comes in playing around with the idea of what you would do with that much money.


Two chicks at the same time, man.

24 Nov 2012 02:46 PM
Snowflake Tubbybottom     
So if it was the left one he lost would he refer the remaining one as "the right nut" or just "the nut".

Surely there is some sort of protocol for this type of thing.

/would buy him a nuetical should I win

24 Nov 2012 02:47 PM
wxboy    [TotalFark]  

ImpendingCynic: Mr. Eugenides: Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.

Maybe I'm just some sort of killjoy, but I wouldn't see $130 million as fun. That's just too much money, for me. The most I could possibly ever want is about $10 million... the rest I'd probably endow some sort of foundation - like the X-Prize, but smaller, so we can do more.


But then the fun is in getting to fund causes you really care about.

24 Nov 2012 02:52 PM
CaliNJGuy     
how many people bashing lottery players here wouldn't hesitate to go to Vegas and drop several hundred $$ playing games like blackjack or craps or texas hold 'em? who cares? if people want to play let 'em play.

24 Nov 2012 02:56 PM
The All-Powerful Atheismo     

CaliNJGuy: how many people bashing lottery players here wouldn't hesitate to go to Vegas and drop several hundred $$ playing games like blackjack or craps or texas hold 'em? who cares? if people want to play let 'em play.


Not many?

24 Nov 2012 03:01 PM
Sunrazor     
According to the Powerball website (which is in no way biased. I checked and everything), the proper way to increase your odds of winning (not the jackpot, just winning in general) is to plop down 70 bucks and ensure that you select every red ball 1 to 35. So all you need to do is wager 70 to get back 4. What a deal!!

/In for 10
//Just win, baby!

24 Nov 2012 03:09 PM
VTGremlin     

GRCooper: Last time this thread popped up, someone posted a link to a thread with some very good advice on the subject/from ar15.com I think


I think this is is.

24 Nov 2012 03:30 PM
sure haven't     

NeoCortex42: Not


Yeah but, I like my life. I wouldn't want to "disappear". I could do that now even if I wanted to.

24 Nov 2012 03:33 PM
rel-yo     
If I lived in a state that offered it, I'd put a few dollars in. The chance to daydream about what I'd do with the money is well worth the price, and I have a decent shot at making the money back(something I wouldn't if my entertainment money went to the movies for example).

24 Nov 2012 03:36 PM
Lt. Cheese Weasel    [TotalFark]  
Hiring a lawyer, setting up a LLC partnership, changing my name (Joe Smith) , setting up the family with a nice trust. Invest wisely, Pay off bills, live off the interest and we all go off the grid. Leave the country, for a good long while.
Easy enough.

24 Nov 2012 03:44 PM
jafiwam     

NeoCortex42: MFAWG: I'm an excellent driver: The Lotto - A triumph of hope over statistical probability

Can't win if you don't play!

Why yes I DID just buy 10 bucks worth. Why do you ask?

Exactly. I realize that spending a couple bucks on lottery tickets is pretty much the same as just burning the bills, but it's still worth it for that longshot chance of being set for life.


Powerball odds are fixed.

At some point, the $2 for the ticket has an expected outcome of over $2. (By a smidge.) So it's not irrational after a certain value for Powerball grand prize is reached.

I had it figured out once, and it wasn't uncommon for it to get that high. Now that it's $2 it's probably not as common.

24 Nov 2012 03:44 PM
Dow Jones and the Temple of Doom     

Snowflake Tubbybottom: So if it was the left one he lost would he refer the remaining one as "the right nut" or just "the nut".

Surely there is some sort of protocol for this type of thing.

/would buy him a nuetical should I win


wut

24 Nov 2012 04:10 PM
Winterlight    [TotalFark]  

VTGremlin: I think this is is.


Hands down the absolute best advice I have ever read on the subject.  I think it should be required reading for anyone who plays the lottery.

24 Nov 2012 04:16 PM
planes     
www.global-air.comView Full Size


Some people think that coming into a few million dollars means life on easy street, money that will be around forever, and no need for responsibility or work. (new window)

24 Nov 2012 04:18 PM
Bippal     

Mr. Eugenides: Stepqhen: The way I look at it, I can drop $10 bucks and spend a couple of days where winning is actually a (grotesquely remote) possibility. Spending a couple of days thinking of how I would quit, what I would do with the first check, where I would go to celebrate, etc is entertainment worth every penny.

Well that's exactly it isn't it. $325 million annuity would translate to $120 to $130 million after taxes if you took the lump sum. The fun comes in playing around with the idea of what you would do with that much money.


Someone in another thread had it accurately figured to around 165 mil the other day after everything. Lump sum. And that any sane financial advisor would tell you take the lump sum any day.

24 Nov 2012 04:18 PM
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