[mitchntx]

... on a Texas Lottery scratch-off ticket.

I asked her if she wanted to sponsor a race car ... (IMG:http://www.frrax.com/rrforum/style_emoticons/default/dry.gif)


She is the cleaning lady for my building and the nicest person you might ever meet.

[00 Trans Ram]

Here's the part I don't understand about lotteries.

There are only 120,526,770 possible combinations of numbers in the PowerBall lottery. Once the cash payout of the jackpot exceeds $120,526,770 why not buy a lottery ticket with every number on it. You are guaranteed of winning (not only the jackpot, but also every other smaller prize, which is usually upwards of $600k).

But, what about if someone has the same numbers? Well, if 100 million tickets are sold, there is only a 20% chance that 2 or more winning tickets will be sold.

So, it's kinda like being the casino. You may lose, but odds are that you will win.

I wonder why more millionaires don't do this? (However, I think that this may have something to do with the fact that I'm not a millionaire, yet.)

[StanIROCZ]

I've done the same math, Mathew. You have to factor in taxes, too. Unless somehow you can say that you spent x dollars to win y and use that as a write off.

I always through money in when our office decides to play (when pot is greater than 100M). As a group we'll get 60-100 tickets, which means my odds of winning are much greater. I don't care if I have to split the pot since I'd be almost as happy with 100k, 1M, or 100M. Any of them would be good. Actually 100M might be too much and I might become some asshole.