Powerball

[Alan Mendelson]

Several of the LA TV stations broadcast video of the long, long, long lines outside the lottery retailer just over the border on the California side at Primm. You can use the Primm outlet mall parking lot to walk to the lottery store.

At one point, one of the TV stations said there was something like 400 waiting to buy their tickets.

I guess that doesn't surprise me that Nevada residents would try their luck for what was a $900-million dollar jackpot -- and I expect longer lines for a jackpot that could be close to $1.5-billion this coming week.

I bought five tickets. Of the 5, Linda wanted four quick picks because she read that most winners are quick picks. I think that most winners would be quick picks because I think most of the tickets sold are quick picks. For the one ticket I "controlled" I got to choose my numbers.

Linda's return was zero.
My return was $4 on the single $2 ticket I "controlled" because I picked 13 as the Powerball number.

Since I paid for all five tickets -- I lost $6 on the venture.

My sister in Florida bought one ticket. She wanted to buy more -- and I told her not to.

Yesterday afternoon Linda wanted to buy more tickets -- I told her not to.

Yes, I am going to buy five more tickets for this next drawing -- I'll splurge for $10 on this super long shot. But I won't spend more than that.

To be honest, I'd only buy ONE ticket but Linda insists on more. She wanted to buy at least 20 -- and I said "no." Since I'm paying, my "no" really counts.

Another of my blood relatives spent $100 to buy 50 tickets. His return was $4 because he had the Powerball #13 on one of his 50 tickets. I don't know what his plans are for the next drawing.

I am sure that in the days ahead we are going to hear about "pools" that bought tens of thousands of tickets. I once heard of a pool for a large California lottery drawing that spent $25,000 on tickets and tied up a retail store for a long time as they were printed out.

I could imagine some mega pools getting together a hundred thousand or more for tickets. Crazy.

Because there are 292,201,338 combinations for all of the numbers available it would be very expensive to try to "box" the numbers. Some horse race bettors will sometimes box some of the horses in a race.

Does it pay to buy $292,201,338 worth of tickets to win one and a half billion dollars? And if you have to split it with someone else?

[nerakil]

Does it pay to buy $292,201,338 worth of tickets to win one and a half billion dollars? And if you have to split it with someone else?

Sure, it's worth it at that discounted price. Unfortunately the tickets cost $2 each.

[Alan Mendelson]

You're right. So instead of about $292-million it would be ONLY $584-million. You'd still be tripling your money in a couple of days. LOL

[RoeIncarnate]

You're right. So instead of about $292-million it would be ONLY $584-million. You'd still be tripling your money in a couple of days. LOL

But after taxes you'd get less than a double.

[Alan Mendelson]

But after taxes you'd get less than a double.

Rob Singer will do our taxes. We'll be able to deduct our houses, cars, pension plan contributions, health care, going out to dinner. cable TV and cell phone bills and groceries.

[Dan Druff]

I bought 8 tickets.

7 of them bricked really badly.

However, one of them came fairly close, though wasn't worth any money.

Going in chronological order:

16: I picked 13 (three off)
19: Correct
32: I picked 36 (four off)
43: I picked 34 (reversed digits)
57: Correct

Powerball 13: I picked 14 (one off)

So I got two correct, the powerball one away, two others 3-4 away, and the last one reversed digits.

Actual: 16, 19, 32, 34, 57, Powerball 13
Ticket: 13, 19, 36, 43, 57, Powerball 14

Damn.

[Rob.Singer]

Did you select those numbers or so did the machine? I read where there's slightly better odds when the machine picks them, though it didn't say why.

Buying all combinations will only bite you. You never know if there's another winning ticket or tickets out there.

I hate buying lottery tickets because there's always a line when the jackpot gets high. But I'll get a few tomorrow.

Alan, my RV's tank is filled with 150 gallons of diesel. Where we going?

[Alan Mendelson]

Did you select those numbers or so did the machine? I read where there's slightly better odds when the machine picks them, though it didn't say why.

If you saw the article I was told about -- it's not that the ODDS are better with quick picks -- it's that more winning tickets were quick picks. And as I wrote before that may be because most tickets sold are quick picks. So, with more tickets sold as quick picks it makes more sense that more quick pick tickets would have the winning numbers.

Alan, my RV's tank is filled with 150 gallons of diesel. Where we going?

When the zombie apocalypse comes around, you have to run from the dead who you insulted.

[Rob.Singer]

I'll give you the stylistic mickeycrimm reply straight out of the bottom of a bottle:

If them menaces come after this here real-deal gambler, I'll pull out my magnum and "Headshot BOOM! Headshot BOOM!" Ain't nobody gonna stop this Montana man-boy, let me tell ya.

Far and wide, the hick casinos fear the world's best sharpshooter, whether it's pool or keno. And know this--I can out thumb-hike the best of 'em, and if yur a man of the road like me you've been schooled on this here lesson long ago: when you hike the badlands, be ready to pay or else. It's gas, grass or ass, cause nobody rides free. Nohow.

[Dan Druff]

I don't use quick picks. It's no fun.

[redietz]

I'm semi-embarrassed that I blew $20 on Powerball last week. I'm also embarrassed I will blow $20 more this week. I haven't played the lottery in 10 years or so. If I were a vampire, this could be considered an advantage play, as I would live forever and could keep doing it. No such luck, however.

P.S. People tend to play birthday numbers, which are all below 32, so technically quick picks, which is random, should give you some kind of advantage in case of a tie, as there should be fewer people with the higher numbers. Having said that, I won't quick pick my once-in-a-decade investment. As Dan said, no funsies. And I really hope someone wins so I don't blow $20 next week again.

[james40]

I'm semi-embarrassed that I blew $20 on Powerball last week. I'm also embarrassed I will blow $20 more this week. I haven't played the lottery in 10 years or so. If I were a vampire, this could be considered an advantage play, as I would live forever and could keep doing it. No such luck, however.

P.S. People tend to play birthday numbers, which are all below 32, so technically quick picks, which is random, should give you some kind of advantage in case of a tie, as there should be fewer people with the higher numbers. Having said that, I won't quick pick my once-in-a-decade investment. As Dan said, no funsies. And I really hope someone wins so I don't blow $20 next week again.

I am a lottery winner. In 1994 while visiting San Diego, I bought my one and only California lottery ticket. I hit 3 of 5 numbers I believe and won $94 or $96 dollars. I quit while ahead and have never played again. No W2G's are available.

[arcimede$]

I'm semi-embarrassed that I blew $20 on Powerball last week. I'm also embarrassed I will blow $20 more this week.

If you win then you will have to eat your words. It will have been a smart investment.

If Singer wins he will be able to move out of that trailer park. Then, he can play non-stop in some high limit area like he always fantasized.

[Count Room]

I once hit 5 out of 6 numbers in my state lotto for $596. Top prize was $4 million in a lump sum AFTER taxes. The base annuitized, pre-tax jackpot was close to $15 million at the time and a very +EV play.

I needed a "4" instead of my "28".

EDIT TO ADD: It only paid $596 because it was approximately 15,000-1 odds for hitting 5 out of 6 numbers. The jackpot was still a 3 million to 1 shot. Looks close, but still...far away.

[jbjb]

How many numbers total in the draw?

[Count Room]

How many numbers total in the draw?

Not sure if you're asking me this question, but it was 6 numbers 1-44.

EDIT: Forgot to mention, you get 2 plays for $1.

[jbjb]

I was. And the 6/6 is 1 in 7,059,052.

[Count Room]

I was. And the 6/6 is 1 in 7,059,052.

Divide that by 2 since it's two plays per dollar, and that's why it was a big overlay. Not only was the after tax jackpot +EV on its own, but it offered prizes for 3 out of 6 numbers, 4/6, and the one I hit (5/6).

[jbjb]

Ok. So basically for $1 you got 2 different sets of numbers?

[FABismonte]

OK I'll confess. In 1984 my mother hit 5 out of 6 numbers in the Illinois State Lottery entitling her to a little over $2,500. I was working on my post-graduate degree and had essentially no income tax that year. By contrast my parents had a high income tax bracket. So my mom had me sign and collect the lottery ticket, the proceeds of which were applied toward my education. I trust the IRS will not go after me and my parents. And "No" I will not request that the IRS send Alan a copy of my returns for that year.

FAB