What if you won the MegaMillions Lottery?

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I don't know what you guys are talking about. After the blackmoney holes (kids) got done with it, there would be nothing left for mom and dad to fight over. :-/
 
I'm buying a few tickets tomorrow. I've posted before that I think about winning the lottery a lot even though I haven't bought a ticket in at least seven years. For the most part, I think about traveling, who I'd help, and the causes I'd support (financially and with my time). However, the publicity aspect scares the heck out of me. I've seen money bring out the worst in people and I fear that there could be people in my life who could show colors I'd prefer not to see. If I won, I'd love to fade into obscurity and travel the world unnoticed for a few years, living out of a suitcase (albeit in top resorts).
 
I had a math professor years ago at UCI who said that your chances of winning the big pot in the lottery were essentially the same for buying a ticket versus walking down the street and having the winning ticket fall out of the sky and land in your hands. I've never bought a ticket but I think that the dreams that come from a few dollars spent buying a ticket are actually worth it for most people. I guess I can dream of the winning ticket falling from the sky just as well.
 
tmare said:
I had a math professor years ago at UCI who said that your chances of winning the big pot in the lottery were essentially the same for buying a ticket versus walking down the street and having the winning ticket fall out of the sky and land in your hands. I've never bought a ticket but I think that the dreams that come from a few dollars spent buying a ticket are actually worth it for most people. I guess I can dream of the winning ticket falling from the sky just as well.
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I think your professor was just trying to make a point about poor odds, assuming a ticket is bought at all. Logically, a random lottery ticket falling from the sky (before the drawing) will have just as much chance of winning as any other lottery ticket, airborne or not. As there are perhaps a million times (total WAG here) more lottery tickets obtained via purchasing than by falling from the sky, the odds of a winning ticket falling out of the sky are minscule--even next to the tiny odds of buying the one winning ticket.

BTW: odds of any one random ticket having the winning numbers is roughly 1 in 25 billion = 1/((56)^5 * 46)

(Odds of winning ticket falling from the sky: ~ 1 in 25 quadrillion.)

If the lottery gets around $100M or higher, and if I happen to be near a liquor store, I'll pony up for some tickets. I've played maybe 5 times in my life. That said, if I don't post after Tuesday it's because I'm probably either in a hospital somewhere, or off busy buying my own Snap On Tool franchise, a large garage, and a bunch of old cars in need of some TLC. :)
 
Daedalus said:
tmare said:
I had a math professor years ago at UCI who said that your chances of winning the big pot in the lottery were essentially the same for buying a ticket versus walking down the street and having the winning ticket fall out of the sky and land in your hands. I've never bought a ticket but I think that the dreams that come from a few dollars spent buying a ticket are actually worth it for most people. I guess I can dream of the winning ticket falling from the sky just as well.
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I think your professor was just trying to make a point about poor odds, assuming a ticket is bought at all. Logically, a random lottery ticket falling from the sky (before the drawing) will have just as much chance of winning as any other lottery ticket, airborne or not. As there are perhaps a million times (total WAG here) more lottery tickets obtained via purchasing than by falling from the sky, the odds of a winning ticket falling out of the sky are minscule--even next to the tiny odds of buying the one winning ticket.

BTW: odds of any one random ticket having the winning numbers is roughly 1 in 25 billion = 1/((56)^5 * 46)

(Odds of winning ticket falling from the sky: ~ 1 in 25 quadrillion.)

If the lottery gets around $100M or higher, and if I happen to be near a liquor store, I'll pony up for some tickets. I've played maybe 5 times in my life. That said, if I don't post after Tuesday it's because I'm probably either in a hospital somewhere, or off busy buying my own Snap On Tool franchise, a large garage, and a bunch of old cars in need of some TLC. :)
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Odds change once you pull a number out of the pool of entries.

At the beginning, you have 56 possibilities and they pull five numbers,

so odds are (1/56)(1/55)(1/54)(1/53)(1/52) = 1 out of 458,377,920 chances.

But these can be pulled in any order, so you have more than one chance. With five numbers, you have 5! (five factorial) chances,

so odds increase to (5)(4)(3)(2)(1) = 120 out of 458,377,920 chances, or 1 out of 3,819,816 chances.

But the last number, the "Mega Ball", must be pulled last and is part of a separate pool of 46 numbers. Had to look that up.

Will need to multiply the above odds by (1/46).

So your odds of winning, by my calculations, are 1 in 175,711,536

Happily, I googled "1 in 175,711,536" and was brought to the Mega Millions Odds page for confirmation. Always check your work.

If I win, I will spend the rest of my life trying to unlearn this stuff.

Good luck,

IR2
 
The issue when the chance of winning is high is that you may need to share the prize with someone. Is there a way to copyright the lottery number so that you can make the other winning ticket invalid? I think I will pay a nickel more for that feature. Anyone here work for Cal. Lottery Commission? ;)
 
Damn Deuce. You continue to amaze. I should have caught the 5!, but I didn't realize all 5 numbers had to be different from the others.
 
I don't buy lottery tickets, but assuming someone bought it for me, and shared the winnings with me..

1. I would set up a few swanky senior communities in India. And set up a few non-profit senior centers that will house neglected and abused seniors. The earnings from community-1 will take care fo the expenses of community-2.

2. I will go to Rome with a sketch book, and spend all my time sketching everything that interests me.

Till I return, I will put the rest of the funds in financial stocks. If they survive till I come back, then I have to plan a few more spendings.

If it's wiped out, I will think that it was the biggest charity of my life to a cause I believed in.

On second thoughts, I can go to Rome with a sketch book right now if I want to- I don't think I need money for this mission. All I need is two children who don't need mommy anymore..
 
Cubic Zirconia said:
If it's wiped out, I will think that it was the biggest charity of my life to a cause I believed in.
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How about sparing a few dollars to buy puts before packing up the sketchbook. :)
 
So no winner and the pot increased to $325M. Good luck to everyone playing on Friday.

Per MegaMillions website:

-----------------------------------------

More Than 2.4 Million Tickets Win as Mega Millions Jackpot Grows To $325 Million

RELEASE DATE: 8/26/2009

The summer is hot, but Mega Millions is hotter. Since no ticket matched all six numbers in Tuesday's drawing, the largest jackpot in North America has grown even larger – to an estimated $325 million for the Friday, August 28 drawing. This is the third-largest jackpot in Mega Millions history.

A total of 2,472,384 tickets from coast to coast won prizes in Tuesday’s drawing. The winning numbers were: 3-12-19-22-40 and the Mega Ball number was 2.

Of all those winning tickets, 24 came within just one number of hitting the jackpot. They matched the first five numbers and only missed the Mega Ball number. Those tickets were sold in California (4), Georgia (2), Massachusetts (1), Michigan (4), New Jersey (3), New York (3), Ohio (2), Texas (3) and Virginia (2).

This jackpot has been growing since July 7, when Mega Millions had its most recent jackpot winner. The jackpot has now rolled 14 times without a winner. The odds of winning the jackpot are approximately one in 176 million. The odds of winning any of the Mega Millions prizes are approximately 1 in 40.

Mega Millions holds the record for the largest jackpot in U.S. history. On March 6, 2007, the Mega Millions jackpot grew to $390 million. There were two winning tickets in that drawing: in Dalton, Georgia and Woodbine, New Jersey.

Mega Millions is played in 12 states: California, Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Texas, Virginia and Washington.

Mega Millions drawings are held Tuesdays and Fridays at 11:00 PM Eastern Time, 10:00 PM Central Time and 8:00 PM Pacific Time. For more information on Mega Millions please go to: www.megamillions.com.

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no_vaseline said:
In this order:

- Call my attorney, accountant, and tell absolutely no one else I won it so I could collect anonomously and without fanfair.

- Drink a beer, and focus on going back to work Monday morning.
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Exactly this... but i'd throw a party with my frineds... just because.

=bix
 
Buy a house fit for entertaining so I could throw parties.

Throw lots of money at the problem of my little sister's unfinished education.

Spend several months doing horribly boring documentation so that I could leave my job without guilt and also without constant "I'm sorry to bother you" phone calls.

Adopt a dog from a local animal shelter to live in my new yard.

Buy a really nice camera and travel the world using it.

Buy some My Little Ponies from Greece.
 
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