Why Trade When You Can Win $1.3 Billion Jackpot?

[ktm]

http://www.snopes.com/jared-price-powerball-winner/

 

[lawrence-lugar]

This Powerball jackpot story made me think of....how much does a 7-11 store owner make:

To get a very rough idea of the income a 7-Eleven can produce, just take 5% of store sales.

• So a store that does $1,300,000 in sales will make roughly $65,000
• https://conveniencestorenews.wordpress.com/2008/09/16/7-eleven-income-potential/

5%...all that stress for 5%...why does anyone want to run a business...just invest/trade in the market.

 

[kut2k2]

LOL

The "mathematicaly challenged" jackpot winner says "F U, asp.. "

I never said all lotto players are mathematically challenged. I said they are a tax on the mathematically challenged. All Lottos start deep in negative territory. So it takes a shipload of suckers like you to build them up to positive territory.

 

[kut2k2]

i think the break even was $2 x 292 million to 1 - or around [let's say ] $585,000,000

it was a [definitely] a positive expectation at $1.5 + billion'

marc

The expected value for Wednesday's drawing (assuming no taxes (UNREALISTIC) and no jackpot splitting (UNREALISTIC)) was

$1.5B/ 292201338 + $1,000,000/ 11688053.52 + $50,000/ 913129.18 + $100/ 36525.17 + $100/ 14494.11 + $7/ 579.76 + $7/ 701.33 + $4/ 91.98 + $4/ 38.32 = $5.45

This "justified" the purchase of up to TWO $2 tickets.

The Power Play multiplier average is : (2*24+3*13+4*3+5*2)/42 = 2.59528

Wednesday's Power Play expected value was

$1.5B/ 292201338 + $2,000,000/ 11688053.52 + 2.59528*($ 0.2343208) = $5.91

This "justified" the purchase of up to ONE $3 ticket.

Clearly the Power Play is a sucker bet for those hoping to win the jackpot. Be that as it may, there was one $2million winner.