Buy SEC championships in every sport

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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Estimated $1.4 Billion
Estimated cash option only $893 Million
Estimated Taxes on cash option ~ $357 million
Leaving $536 million
293 People each buy 1,000,000 $2 tickets.
$586 million in tickets
This leaves a loss of $50 million
Divided out 293 ways is everyone losing $170648

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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Less that than worth taxes and the cash option, but buying that many tickets would also raise the pot. Plus you would win a bunch of lesser prizes.

But, if someone else wins as well, you'd be screwed.

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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You'd invest $2 million each in tix up front, splitting $1.4 billion 293 ways leaves $4.778 million each, minus about 40% in taxes leaves each with about $2.867 million. So each person would walk away with $867,000 in profit....and that's with the annuity payments..

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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You'd invest $2 million each in tix up front, splitting $1.4 billion 293 ways leaves $4.778 million each, minus about 40% in taxes leaves each with about $2.867 million. So each person would walk away with $867,000 in profit....

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Psshhtt... Scimi calls that "Tuesday".

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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Estimated $1.4 Billion
Estimated cash option only $893 Million
Estimated Taxes on cash option ~ $255 million
Leaving $638 million
293 People each buy 1,000,000 $2 tickets.
$293 million in tickets
This leaves 52 million
Divided out 293 ways is $177,474

Factor in court costs associated with everything because there is no way in hell there won't be a lawsuit and that could easily run quite a few million.

By the end of things there would likely at best be somewhere close to $100,000 per person if they are lucky.

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that would be $586 million in tickets.....

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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You'd invest $2 million each in tix up front, splitting $1.4 billion 293 ways leaves $4.778 million each, minus about 40% in taxes leaves each with about $2.867 million. So each person would walk away with $867,000 in profit....and that's with the annuity payments..

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If you played with the $868 million cash option, each would get $2.962 million before taxes, leaving about $1.777 million after taxes..

It cost you more to play than you actually won....

Beat me to my correction

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http://i.imgur.com/tBIbsya.jpg


Showed up on Facebook. Some people are dumb

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But... But... If our poors had more $ - the grand prize would be bigger.

Lulz

Math is hard.

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http://i.imgur.com/tBIbsya.jpg


Showed up on Facebook. Some people are dumb

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http://imgur.com/a/CBRUP

An in-depth look into the people who think math works this way...

That's ****ing scary as hell

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http://i.imgur.com/tBIbsya.jpg


Showed up on Facebook. Some people are dumb

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http://imgur.com/a/CBRUP

An in-depth look into the people who think math works this way...

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HOLY SHEET, whoever red is does not need to breed, EVER.

You can deduct gambling losses up to the extent you have gambling winnings, right? So you could at least deduct what you spent on all of the losing tickets to greatly reduced your tax burden.

So with the cash option, each individual should take home $1MM of net winnings before applying the tax ($3MM share of the $893MM total cash option less $2MM of deductible ticket expense), so you should clear north of $0.6MM after tax.

Don't forget there are 25 5+0 tickets in there worth $1,000,000 each and 340 4+1 tickets worth $50,000 each. The nearly 60,000 3+0 tickets are also not worthless.

Mathematically, this may be one of the few times it makes sense to play. There is a 1 in 292 million chance at picking the winning number. With a direct payout of 800+ million and cost of $2 to enter, not too shabby.

Of course there is probably a very high chance of a multiple-split payout, which throws off the above calculation.

Yeah, the risk of a split payout is the bigger factor to getting 292 of your friends to play with you. If your group has the only winning ticket, you can still profit as long as you deduct the losses. But if there is a winner outside of your group, you are screwed and will lose at least $500k each

At this point it doesn't make sense to have any less than $2 in.

A single entry is infinitely more likely to win than no entry at all.

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Two tickets a week for 1000 years resulted in my largest winning ticket $10,000 and net loss $180,582. Plus, I probably died somewhere in there.

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you'll never win with an attitude like that

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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Each ticket cost $2. The lump sum payout is way less than a billion. They take 25% tax of tax off the top. Then you have to pay 39.5% tax.

You won't make money

$1,400,000,000 jackpot.

$584,402,676 to enter every ticket bumps that to a nearly $2,000,000,000 jackpot. You would get your entry money back, too. Skim a bit off due to the estimate being off, and you're still looking at a $1,800,000,000 jackpot.

plus the lesser prizes because you will win them all... another $25,000,000 on the 5+0 tickets and a bunch of $50,000 on the 4+1 tickets along with the thousands of 2+1 1+1 and 0+1 tickets you have...


would you like to redo your math? Don't forget to subtract from the taxable amount $2 for every ticket that didn't win anything...

So each person spends $2million. That's your break even number. I will take your $1.8 billion number. Lump sum approx 1.2 Billion. Divide by the amount of people (292).

$4.1 million. Times .75 cause of the 25percent tax equals 3.075 million. Times by .605 because you are going to get taxed end of year 39.5 percent. Equals $1.875 million.


You lost money. And what if someone else has your same numbers.

Ouch

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So if 293 people each bought 1,000,000 tickets and coordinated to eliminate duplicate entries... You'd win. Split the pot 293 ways, and each walk off with $4,000,000.

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Each ticket cost $2. The lump sum payout is way less than a billion. They take 25% tax of tax off the top. Then you have to pay 39.5% tax.

You won't make money

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That's not correct. 25% is the initial amount of taxes withheld. The IRS defines this withholding amount and it applies to things like bonuses as well. But it's not an additional tax.

And again, you can deduct your losses on the 291,999,999 losing tickets to mitigate a large portion of the tax

Are you now considering taking another look at your taxes for the last few years?

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Are you now considering taking another look at your taxes for the last few years?

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Eh I don't do my taxes. I hire someone to do them for me.

You go ahead and put up that $2milllion and let me know how that works out. Better hope someone else doesn't have the same winning numbers

That's the point!

And that it would take well past Wednesday for any one person to get 1,000,000 entries.

5/ticket would still be 200,000 tickets to print.

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http://i.imgur.com/tBIbsya.jpg


Showed up on Facebook. Some people are dumb

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This country is fooked.

I see it every day.

Stupid people having babies,

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$1,400,000,000 jackpot.

$584,402,676 to enter every ticket bumps that to a nearly $2,000,000,000 jackpot...

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Ignorance is bliss ain't it?

Lotto prize money is just a portion of ticket sales, and the jackpot is a fraction of that prize money. In your ingenious scenario, powerball would not only be in the red (how would you pay all the small prize winners?? FYI, $160mm was still awarded on the Saturday drawing in non jackpot winnings) but it would never be approved since it's doing nothing financially for the states. (Education, state pensions, Etc. etc. )

So you are way off here.

Hey I bought the power play option. Will I get mor than 1.3 billion?

I guess you think the money is just in a suitcase somewhere that gets handed to the winner.

That would be a really big suitcase. A hundred million dollars in $100 bills literally weighs a ton. Tomorrow's Powerball jackpot is estimated at 14 tons.

I would put it all in barrels and bury it in the New Mexico desert.