Powerball Lottery

Slushie · 2016-01-11 19:13:32

Lotteries are nothing more than a self-imposed tax.

Do people even know what "1 in 292.2 million" means?

BuzzerBee · 2016-01-11 21:07:03

It's just a game. Nobody actually expects to win

Pyromaniac · 2016-01-12 03:18:18

Wow guys has it been mentioned that the chances of winning are really small? Maybe some more people should point that out, so we all are sure to get the picture.

**** buzzkills

BuzzerBee

Moukdaboss · 2016-01-12 03:27:00

My family won $4 GG no joke

Slushie · 2016-01-12 11:52:50

BuzzerBee wrote:

It's just a game. Nobody actually expects to win

People wouldn't be spending money on it if they didn't think they had a chance.

Hostage · 2016-01-12 12:15:15

i once won 50$ on a scratch card i found on the sidewalk
good times

The Party Animal · 2016-01-12 13:38:55

Kefka wrote:

$900 million. That's almost a billion. The odds are getting more and more difficult... If nobody wins again, the prize could exceed 1 billion...

to 1.3billion

BuzzerBee · 2016-01-12 13:42:18

Slushie wrote:

BuzzerBee wrote:
It's just a game. Nobody actually expects to win
People wouldn't be spending money on it if they didn't think they had a chance.

Everyone does have a chance. But that doesn't mean they expect to win.

Pingohits · 2016-01-12 21:57:22

1 powerball ticket =$2

powerball= 5/1-59 lottery game + 1/35 red powerball

=175,223,510 combinations for powerball

since $2=1 powerball ticket, 175,223,510*2= 350,447,020

it costs $350 million to buy all possible powerball combinations

current lotto=1.5 billion=1,500,000,000

AFTER TAXES (39.6% federal tax)= $712,380,000

712,380,000-350,447,020=361,932,980

net worth= $361,932,980

which is a rather hefty amount

HOWEVER...if 1 powerball ticket was printed in 1 second, it would take 5 and a half years to print all possible combinations...and a powerball jackpot this large might not be coming so soon

Slushie

BuzzerBee · 2016-01-13 15:10:31

There's another problem with that logic. What if someone else won, too? Then you would have to split it and end up losing money

Pingohits

Tako · 2016-01-14 03:46:18

BuzzerBee wrote:

There's another problem with that logic. What if someone else won, too? Then you would have to split it and end up losing money

Are you going to complain though?

!nb4 · 2016-01-14 04:07:44

GUYS ITS UP TO 999 million almost 1 billon! This is 1/13/2016!

Moukdaboss · 2016-01-14 21:16:40

won $11 GG

BuzzerBee · 2016-01-15 04:26:34

Tako wrote:

BuzzerBee wrote:
There's another problem with that logic. What if someone else won, too? Then you would have to split it and end up losing money
Are you going to complain though?

Yes because they would end up with a deficit rather than extra money. They would literally be bankrupt and millions of dollars in debt

Kaslai · 2016-01-17 04:11:40

BuzzerBee wrote:

JaWapa wrote:
The government is the real winners when someone hits the jackpot.
I'm pretty sure a couple hundred million dollars makes no difference to the government calm down

It's half a billion dollars (or more) of free money for the government, of which around 30% is likely to go to your state.

Most of the winnings from a $1b+ payout will be taxed at the federal level at the rate of 39%, and the state will take 10-25% on top of that, depending on which state it is. I'm sure the federal government might not be super excited (they'll still be somewhat excited, though) to get the ~$400m, but the state would almost certainly love to get $100m-$300m.

A state can buy an awful lot with that sort of free money.

Mouseh · 2016-01-17 06:33:30

my friend's grandma thinks she's gonna win
when my friend asked her grandma where you get them her grandma said "usa"

some woman · 2016-01-17 06:40:51

Mousey123 wrote:

my friend's grandma thinks she's gonna win
when my friend asked her grandma where you get them her grandma said "usa"

you know if she lives outside of the us (or at least travels frequently) that is a completely normal answer

Official Everybody Edits Forums

#26 2016-01-11 19:13:32

Re: Powerball Lottery

#27 2016-01-11 21:07:03

Re: Powerball Lottery

#28 2016-01-12 03:18:18

Re: Powerball Lottery

#29 2016-01-12 03:27:00, last edited by Moukdaboss (2016-01-12 03:27:08)

Re: Powerball Lottery

#30 2016-01-12 11:52:50

Re: Powerball Lottery

#31 2016-01-12 12:15:15

Re: Powerball Lottery

#32 2016-01-12 13:38:55

Re: Powerball Lottery

#33 2016-01-12 13:42:18

Re: Powerball Lottery

#34 2016-01-12 21:57:22

Re: Powerball Lottery

#35 2016-01-13 15:10:31

Re: Powerball Lottery

#36 2016-01-14 03:46:18

Re: Powerball Lottery

#37 2016-01-14 04:07:44

Re: Powerball Lottery

#38 2016-01-14 21:16:40

Re: Powerball Lottery

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Re: Powerball Lottery

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