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burnodo2 t1_j1yygvl wrote

if the prize isn't 2 billion, the ticket's not worth the 2 bucks

63

AtomicBlastCandy t1_j1z6ohj wrote

Yeah the math doesn't work but irrationality isn't based on math. Every year or so I'll randomly buy a ticket, it is useful to dream for a few minutes about what if....

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NancyPelBroski t1_j1zs0tj wrote

I had absolutely nothing to do at work yesterday so I bought a ticket on my lunch break and spent the rest of the afternoon browsing through million dollar mansions in Mexico. Best $2 I ever spent.

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Karmack_Zarrul t1_j24285t wrote

I’m with you. I’ve only bought a ticket like twice ever, but it makes the dreams so much more vivid since there is technically a chance. It’s worth the 2 bucks. I think a second ticket adds no value, but a single ticket is cheap fun

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darthjoey91 t1_j1zyaj1 wrote

But at $2 billion, the math does work. Like not much, but the expected value passes the cost of a ticket around there.

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AtomicBlastCandy t1_j1zymtx wrote

First the amount is halved if you take it as a lump sum and the annuity has a shit interest rate, then you have to factor in taxes. I haven’t done the math you are probably right that at $2b jackpot the numbers may make sense. There is also the fact that you may have to split the prize

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code_archeologist t1_j1z0btg wrote

The jackpot's elbows are too sharp, wouldn't bang buy a ticket

7

Bigapple235 t1_j1za1mz wrote

>$640 million

Just imagine, for $2, you win $640 million, which is still a huge number. Maybe you and your son or your grandson and your grandson's grandson won't get that much wealth 🤷‍♀️

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HowardBunnyColvin t1_j23nmw3 wrote

Seriously isn't. I didn't even come close to winning and I purchased like 7 tickets total for the MM and PB earlier this year.

1

Academic-Truth7212 t1_j20atd7 wrote

In America, whether, you pay, win, or lose. The price is never the one indicated.

0

Crispylake t1_j1z5wje wrote

They should somehow alter it to 640 one million winners. Change some lives instead of changing one life.

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BrotherChe t1_j20ei33 wrote

That'd be a great marketing for the game. Imagine if they announce there will be a thousand winners getting $100,000 instead of one person getting $100 million. That can be a live changing event for quite a few people

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M80IW t1_j2585yh wrote

Then prize money wouldn't build up so much. Not as many people would play. They are playing to win $100 million. Not $100,000.

1

Karmack_Zarrul t1_j242snd wrote

Yea, but if you actually want good odds, the lottery isn’t the way to roll. Isn’t taxes on ticket sales something like 50%? For sure a better bet would be to go to any casino and keep parlaying it it’ll broke or millionaire. Yea, I know in theory table stakes could become an issue, but if that becomes your problem, you already had a good night.

0

beefspring t1_j2040tt wrote

If I win, I will give the 640 next closest tickets $100,000

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quats5 t1_j20t92p wrote

That would be if the lottery were meant to make a difference. But it’s meant to make money.

They found that bigger prizes sold more tickets and generated more profits, so they changed the US lotteries a few years back to lower the chances of winning and drop the lower prizes, purely to drive bigger jackpots and sell more tickets.

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Advice2Anyone t1_j20fd4x wrote

Almost like astronomically small odds and millions of tickets sold makes more money

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a49fsd t1_j21edt5 wrote

arent those just scratch tickets?

1

munchies777 t1_j22eiae wrote

Most lottery games offer smaller prizes but better odds. They probably do more damage than the mega millions though. If you win small prizes sometimes I imagine it makes it more attractive to compulsive gamblers.

1

w1n5t0nM1k3y t1_j23j42r wrote

Thats basically how we run it in Canada. After it reaches 50 million they start adding extra million dollar prizes on for other drawings so that the money is distributed to more people.

We also don't pay taxes on winnings.

1

WirelessBCupSupport t1_j1zrnqr wrote

LOL...family spent $400 on those scratch off tickets... in total, 1 FREE winner, and two $5 winners.

Lottery is tax for the stupid, and yet... I won $5 !!! LOL...

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Advice2Anyone t1_j20fgjw wrote

Yep some people swear by it tho. Rather own a lottery than buy it

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HowardBunnyColvin t1_j23nlf4 wrote

There was literally a MM jackpot like 6 months ago. Then the powerball hit a billion. I didn't win either and I was showing up at the Wawa after every drawing to buy tickets off the machine.

I won't get fooled again

2

[deleted] t1_j1yxry2 wrote

[removed]

−8

monogreenforthewin t1_j1z4t0n wrote

my fingers will remain uncrossed as i'm more likely to get hit by 3 separate bolts of lightning next Tuesday at 0843 than win Mega Millions. lol

5

Safe-Voice-8179 t1_j1yzega wrote

Conspiracy theorists in me wonders if anyone really ever wins the big jackpots or if it’s just a scam. . .

−27

tetoffens t1_j1z039k wrote

Conspiracy theories about things that can easily be proven true or false should never become conspiracy theories.

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SheriffComey t1_j209tme wrote

I had a co-worker spout a conspiracy theory that would've required THOUSANDS of people to be in on it and he saw it as quite legit.

I asked him if his family had any secrets and he replied "Yes, of course" and I then I said "Do you know any you're not supposed to?" and he said "A few, yes". I hit him with "If the people in your family that want a secret can't keep it as such, how do you think thousands of strangers would do so?"

He hoped on the "Well they'd all be killed or dead if they said anything...". I tapped out.

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fight_your_friends t1_j1z9nif wrote

A "theory" is based on real evidence.

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wyvernx02 t1_j1zckan wrote

In my experience, conspiracy theories aren't typical evidence based. They are usually based on hearsay and conjecture.

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Sharp-Anywhere-5834 t1_j1zeyff wrote

I agree with you 100% and I can’t believe you got downvoted. Well, I guess I can, but it makes sense to distribute a broader amount of wealth instead of giving such a massive amount to one person who will either fail epically or horde it their whole life, with a slim chance of doing good things. The chances of having a positive impact on society are much greater, both in improving peoples lives directly, and giving many people the power to improve the lives of people around them. There are so many hundreds of millions of dollars jackpots that every American could eventually end up with a million dollars… is that not something we all want? Or do we only want to be millionaires of it’s not something many other people are…

−16

TheFuzziestDumpling t1_j1zi6h4 wrote

They (and you) are getting downvoted because it's ridiculously easy to find the list of winners, and if you're thinking the more rational possibility is that they're all paid actors, you need professional help.

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Sharp-Anywhere-5834 t1_j1zidql wrote

I don’t know what you’re talking about, it seemingly has nothing to do with what I said…

−7

TheFuzziestDumpling t1_j1zitqh wrote

To recap, OP said they wonder whether anyone ever really wins the big jackpots or it's a big scam. You chimed in saying you agree 100% and don't understand the downvotes. Hopefully you understand them now.

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Sharp-Anywhere-5834 t1_j1ziz51 wrote

Oh I didn’t realize he said that🤦🏻‍♂️ I was agreeing with something else he said and should have made that clear

1

ScreamingMemales t1_j1zi871 wrote

>There are so many hundreds of millions of dollars jackpots that every American could eventually end up with a million dollars

Not quite. For every American to get 1million, there would have had to be 300,000,000,000,000 in lottery. 300 trillion. The amount given out so far is not even 1 trillion.

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Sharp-Anywhere-5834 t1_j1zjewz wrote

What if you exclude children and only include tax paying individuals beneath a certain income limit?

−1

ScreamingMemales t1_j1zjr75 wrote

So only 50 trillion then, when not even 1 trillion has been given out in all lotteries ever. Still quite a ways off.

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Sharp-Anywhere-5834 t1_j1zlrrc wrote

Okay, 25,000 to each person once 1 trillion is achieved

I realize how stupid this all is. Thank you

2