>Powerball Jackpot: 830 million USD
>Price per Ticket: 2 USD
>Odds of Winning: 1/292 million
>Odds to Payout Ratio: 584 million/830 million= Less than 1
I am well aware of the fact that taxes would make the odds to payout ratio greater than 1, making this a shitty investment, but should I watch the lottery to see if the post-tax payout eventually becomes greater than 584 million?
1. Would take years to fill out and buy every combination of tickets.
2. If someone else wins you'd lose half the money then you lost at least 200 mil
>>1038136
This, plus you don't have 584 million.
>>1037098
But it's 830 million AFTER taxes, so the payout ratio is less than 1.
>>1038154
no, 830mil for lump sum, then taxed. $1.4bil is for 29 year annuity
CNN Money ran the numbers on buying one ticket for each combo, it's actually better than you would think (tax deduction for all tickets, for one):
http://money.cnn.com/2016/01/11/news/powerball-jackpot-win-guarantee/
>>1037098
You are failing to mention that you have to buy a ticket to have the chance to win.
Thus odds to win are 1:1
>>1037098
in my state, each ticket i bought tonight was ten cents EV. first time in history it's been plus ev to play.
