If powerball hits $1,600,000, it makes sense to buy in

[dyna mo]

According to math.

The math also supports buying all the # combinations for a guaranteed win. Unfortunately, it would take 10 years to print all those #s.

[mineistaken]

Does your math include the possibility of someone else hitting the numbers and leaving you with 50% of the prize?
Rhetorical question

[SBJ]

awesome! I'm going to the bank to take out a loan for what $228mil so I'm assured to win $900 mil cash. I'm sure the bank will loan me the money when I show them your thread.

[kane]

Originally Posted by mineistaken

Does your math include the possibility of someone else hitting the numbers and leaving you with 50% of the prize?
Rhetorical question

Therein is the problem. I watched a show several years ago about a group of investors from Australia who decided to buy up all the number combinations to guarantee themselves a win.

It was a big undertaking that they had to split up among several people just to get the tickets all paid for and printed out. They eventually bought all the numbers and won, but there were two other jackpot winners as well. In the end they basically spent a lot of time and effort and essentially broke even.

[plaster]

Highly doubt that it would take 10 years to print since the odds of winning are now 1:295 million. For your printing estimation to be correct, for powerball to break even, they would have to sell 147.5 million tickets at $2 each. Surely they have done that already in 1 week.

Well I guess if you did it from one location but I'm fairly certain you can buy them, in bulk, using other methods.

[DraX]

The scientists of GFY at work

[BIGTYMER]

Imbroglio!

[blackmonsters]

Originally Posted by SBJ

awesome! I'm going to the bank to take out a loan for what $228mil so I'm assured to win $900 mil cash. I'm sure the bank will loan me the money when I show them your thread.

[Penny24Seven]

can we get a time line LOL

[dyna mo]

Originally Posted by plaster

Highly doubt that it would take 10 years to print since the odds of winning are now 1:295 million. For your printing estimation to be correct, for powerball to break even, they would have to sell 147.5 million tickets at $2 each. Surely they have done that already in 1 week.

Well I guess if you did it from one location but I'm fairly certain you can buy them, in bulk, using other methods.

I was reading something pretty interesting about the logistics of printing 296 million different number sets, the author did claim it would take 9 years for printing them via current lotto printing. I'll try and dig it up.

[dyna mo]

Yeah, if you print one # per second, 85,000 seconds per day it takes 9 years to print 300 million.I'm on my phone, GFY mobile sucks.the other issue has been mentioned also, sharing the prize. But you get to make a tax claim on the ticket purchase.

But also, at $1,600,000, the ticket value increases slightly, from my understanding.

[kane]

Originally Posted by dyna mo

I was reading something pretty interesting about the logistics of printing 296 million different number sets, the author did claim it would take 9 years for printing them via current lotto printing. I'll try and dig it up.

I wonder if he means printing them all out on one machine. In the story I saw the group ended up using several locations to buy all the tickets because the printing process was the real bottleneck.

[dyna mo]

Originally Posted by kane

I wonder if he means printing them all out on one machine. In the story I saw the group ended up using several locations to buy all the tickets because the printing process was the real bottleneck.

Yeah, prolly right. No way to print them all in 3 days I guess is the point. Even taking over printing.

[dave90210]

I bought some tickets I'll 100% win that $1.4 Billion dollars!!!

[kane]

Originally Posted by dyna mo

Yeah, prolly right. No way to print them all in 3 days I guess is the point. Even taking over printing.

The thing I saw was for a much smaller lottery, with fewer possible combos and it was only drawn once per week so they had more time. The stores they targeted to buy the tickets from they made arrangements so those places had an employee that did nothing but help these guys print out their tickets all day every day.

To get 300 million tickets printed you would have to be able to get about 200 locations where you could print 1 ticket per second for every second of every day for 3 days non-stop. It would be a pretty massive undertaking. Not to mention each ticket will have to be manually entered as you buy it so you make sure the numbers were correct. You can't just print out 300 million random quick picks. That being the case 3-5 seconds per ticket is likely more realistic which bumps the number up to 600-1000 locations you would have to use.

[muthisdev]

Originally Posted by dyna mo

According to math.

The math also supports buying all the # combinations for a guaranteed win. Unfortunately, it would take 10 years to print all those #s.

It only makes sense to buy in if you win the jackpot. Which you didn't.

[Mr Pheer]

Originally Posted by mineistaken

Does your math include the possibility of someone else hitting the numbers and leaving you with 50% of the prize?
Rhetorical question

Or two others winning, leaving you with 33%

I lost $20 on this shit