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21k Texans buying a Mega-Million$ lotto ticket every minute. Jackpot $650,000,000.

Discussion in 'The OT' started by texasmoose, Mar 30, 2012.

  1. texasmoose

    texasmoose Icon

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    May 24, 2007
    Most states have the "Mega-Millions" Lotto, tonight's Jackpot is a world record $650,000,000.00. I wish they made all the li'l prizes bigger too. It's a shame it all goes to the top tiered prize-pool.
     
  2. SayWhat?

    SayWhat? Know Nothing

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    And yet they say people are hurting for money. Food is too high, gas is too high, "the rents is too damn high!!".

    Apparently not if people have money to throw away.
     
  3. Davenlr

    Davenlr Geek til I die

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    I figured it was worth $1 just for the fun of it. Just $1 mind you. Didnt go overboard :)
     
  4. yosoyellobo

    yosoyellobo Icon

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    Since I believe there are some 145 million or so combinations in the Mega Lottery would it be possible for a person or group to buy all combinations. The only reason I bring this up is that I seem to remember that back in the ninety that in Virginia a group brought about half the tickets in the state lottery. They only had to buy about 22 millions dollars worth with a 40 something million payout. I remember that it when to court, but don't remember the outcome. Just wondering.
     
  5. russ4230

    russ4230 New Member

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    Feb 24, 2012
    From LA Times:

    By the numbers, you have a 1 in 175,711,536 chance of picking the winning numbers and scoring a record $540 million jackpot.

    If there is more than one winner your prize is cut in half, so there is a potential to spend $175M and will much less. Three winners and you lose money. Add in the cut-in-half if you want immediate payout, and it isn't a winning proposition to buy 175M tickets.
     
  6. SayWhat?

    SayWhat? Know Nothing

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  7. yosoyellobo

    yosoyellobo Icon

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    Jacksonville Fl
    Glad I did not spend that 145 million.:)
     
  8. Laxguy

    Laxguy Honi Soit Qui Mal Y Pense.

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    Winters,...
    I'd love to see the look on the banker's face when you give him the proposal....
     
  9. dpeters11

    dpeters11 Hall Of Fame

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    Cincinnati
    I splurged big, I bought 6.
     
  10. armophob

    armophob Difficulty Concen........

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    Fort Pierce, FL
    I can't get them here in Florida, but a Nigerian man emailed me a website and offered to purchase them for me. I only bought $100 worth. But I left my card number with him in case I need to call at the last minute to get a few more.
    Wish me luck, my fingers are crossed.
     
  11. JACKIEGAGA

    JACKIEGAGA N.Y. FOOTBALL GIANTS

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    Dec 11, 2006
    Long Island, NY
    $10 on my own and $5 for office pool 17 of us
     
  12. TBlazer07

    TBlazer07 Grumpy Grampy

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    Frankly I believe it's TOO much. NO ONE PERSON needs that kind of money. It's ridiculous. There should be larger lower prizes and some sort of cap on the max at which point it should split into multiple top prizes (not that I would refuse it of course). :lol:

    If no one wins tonight it probably will hit 1 BILLION!
     
  13. Earl Bonovich

    Earl Bonovich Lifetime Achiever

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    Spent $1, Wife Spent $5.

    Here in Illinois, you don't have to stand inline anymore... you can buy them on line.

    And I bet Saturday morning, the first claim will be in the paper from where they got it online... but the system isn't recognizing that they won.
     
  14. texasmoose

    texasmoose Icon

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    May 24, 2007
    I agree with that statement, some of the $$ needs to trickle down to the lower tiered prize pools......
     
  15. Earl Bonovich

    Earl Bonovich Lifetime Achiever

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    Nov 15, 2005
    Hit 1 Billion... the starting line on Saturday Morning will be 1 Billion.
    The prize pool DOUBLED since tuesday night...

    It will easily hit 1 Billion, if not 1.5.

    The "experts" today, said the odd are probably 1 in 3, that it will roll-over


    My rule of thumb of this is:
    $1 Quick Pick... Why? Spending more than $1 really won't help, and if I pick them myself.. I will never ever forgive myself if I was 1 number off.
     
  16. runner861

    runner861 Icon

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    Mar 20, 2010
    In the marketing of this, a huge top prize may stimulate more ticket purchases than multiple lower, but still quite large, prizes.
     
  17. armophob

    armophob Difficulty Concen........

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    Fort Pierce, FL
    Interesting. I just read the story why you can get them online.

    "In the three months since the policy reversal, only Illinois has managed to get its online lottery ticket operations up and running. Illinois started selling Mega Millions online lottery tickets last Sunday and it reportedly has already sold $425,000 of tickets. Other states, like Iowa, are taking notice. The next time there is lottery frenzy, there’s a good chance you won’t have to wait in line to buy a ticket."
     
  18. dpeters11

    dpeters11 Hall Of Fame

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    An MBA I know said that all possible combinations were sold yesterday. We'll see.
     
  19. armophob

    armophob Difficulty Concen........

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    Fort Pierce, FL
    I just heard an hour ago that 95% of all possible combinations were sold so far.
     
  20. AntAltMike

    AntAltMike Hall Of Fame

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    College...
    If there are 175 million combinations and about 1.5 billion tickets sold, then it seems to me that there would be an 85 to 90% chance it would be picked.
     

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