Powerball $70m Jackpot
- Thread starter rabidz
- Start date
I usually get a couple of 'PowerHit' games when it gets this big, it gives you the Powerball number by default, but it's circa $20 per game. If I win I want the big prize not a lousy few thousand dollars
You can buy tickets on-line as well.
Here is my affiliate link.
I believe it gives you one free OZ lotto game.
Here is my affiliate link.
I believe it gives you one free OZ lotto game.
I'm in too
According to "Powerball hits $70 million, triggers rush on newsagencies"
The odds of winning the $70 million jackpot are 76,767,600 to 1.
Which means that with regards the jackpot the Expected Value (EV) of my ticket is -
(($70,000,000 / 76,767,600) * 18 [18 lines]) - $18.90 [cost of ticket]
= ($2.49) [minus $2.49]
Oh well.
Gotta be in it to win it.
The odds of winning the $70 million jackpot are 76,767,600 to 1.
Which means that with regards the jackpot the Expected Value (EV) of my ticket is -
(($70,000,000 / 76,767,600) * 18 [18 lines]) - $18.90 [cost of ticket]
= ($2.49) [minus $2.49]
Oh well.
Gotta be in it to win it.
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I tend to stay away from the major draws,the odds of winning are increased by more punters.
I seldomly punt on lotto but on rare occasions,i do tatts.
Got 5 numbers once,thought yee-hah,this should be few k at least.
Got 900 back ...All good though
You'd think being 1 off the major prize would be bigger.
I seldomly punt on lotto but on rare occasions,i do tatts.
Got 5 numbers once,thought yee-hah,this should be few k at least.
Got 900 back
...All good though You'd think being 1 off the major prize would be bigger.
Got 5 numbers once,thought yee-hah,this should be few k at least.
Got 900 back
You'd think being 1 off the major prize would be bigger.
This happened to us too. The prize was $300. I felt quite ripped off for my efforts
We will buy power ball when it goes over 20 mill.
I'm not going to win it , but I figure if I'm not going to win , I might as well not win 30 or 70 mill rather than 1 .
1 would be nice but it's not going to take us to another level of wealth . 30 , 70 ....
I'm sure we could work out what to do with it .
Cliff
I'm not going to win it , but I figure if I'm not going to win , I might as well not win 30 or 70 mill rather than 1 .
1 would be nice but it's not going to take us to another level of wealth . 30 , 70 ....
I'm sure we could work out what to do with it .
Cliff
It's an interesting one. Personally, if I were to gamble (which is exceedingly rare), I'd take part in the superdraws for the following reasons:
- As see_change mentions, winning 1-2 mil isn't really lifechanging. And as the expected value of your ticket is typically around 30c to the $1, it's not worth gambling long term, unless you are doing it for the 'hope' of something lifechanging
- Even though you are very likely to share the main prize, $70m divided by 10 people is still better than $4m to yourself. You might get really unlucky and it might split between say 35 people. But that's still $2m. And in any case, you are extremely unlikely to win anyway so it's all a moot point - again, you are playing for the 'hope' of something lifechanging.
The lower division prizes are usually worse for higher jackpots, but again, you aren't playing to win 4th or 5th division, so it's a moot point again.
I did some analysis on expected values once before, looking at average prize pool winnings for different size jackpots etc. I don't think I have it anymore though. It's always interesting analysing the lotto the.
The other thing you have to consider is that expected value is quite useless when looking at long odds.
For example, consider a lotto where you have a 1 in a 100 trillion chance of winning 100 trillion dollars. The cost of a ticket is 10c. Your expected value per $1 is $10 - an amazing deal right? But you'd be a fool to enter as you are practically guaranteed to lose your money (even though on paper, you expect to get $10 for every $1 you bet).
We have all 'won' with similar odds at least once before.
I have an ozlotteries account, and noticed I had 11 bucks sitting in it, so I bought the smallest ticket possible, $4.20.
Last year I bought a single game in one of the big draws for $1.35, and won $13.50. That's a 1000% return. Damn it's good to be a gambler.
Last year I bought a single game in one of the big draws for $1.35, and won $13.50. That's a 1000% return. Damn it's good to be a gambler.
I agree devank,when i do have the odd punt,i'll either do mon/wed tatts or saturday.
Though you have a small chance of winning,tatts outweighs oz lotto and powerball on %.
I haven't looked but if powerball has gone off,i hope there are 70 winners!
Two winners, over $35,000,000 each. Damn that's a lot of zeros!
I chucked in money with the people in my office. I only do it because my morale and happiness would plummet if they all won big and I didn't.
