Playing the NC Lottery

[Panthro]

Lump sum is the only way to go... unless you have some way of knowing you won't get hit by a bus until you've collected all of your winnings.

Of course, the lottery people would love nothing more than to invest your winnings and make money off it while paying out your annuity if you opted for annual payments.

Even then the pv of money states you take the money up front. At 7% you can turn that $233m into $1.2B in 25 years

[AppStatePanther]

um, it's true, although for such low odds, it doesn't make a huge difference.

 

Let's say there were only 10 sets of number combinations for simplicity sake.

 

 

If you draw 4 sets of numbers once, your odds of drawing the winning set of numbers are 4/10, or 40% for that one drawing.

 

 

Let's say, in another scenario, you draw 1 set of numbers, 4 times, all independently events.

 

For this scenario, you have 3 options: not winning, winning once, and winning more than once.

 

To figure out the odds of winning at least once, you need to figure out the odds of not winning at all.  This will be the product of not winning in each instance.

 

ie P(1st attempt) * P(2nd attempt) * P(3rd attempt) * P(4th attempt)

 

(0.9*0.9*0.9*0.9)= 65.6% chance of not drawing the winning number combination in 4 tries.

 

This puts the chance drawing the winning numbers at least once at 34.4% in 4 attempts.

 

Vs a 40% chance of winning if you drew the 4 numbers all at once.

 

However, say you play only once a year, you will be playing when the jackpot is large and the number of players are larger. if you played only once a year, by your strategy, it would be smart to play when the jackpot is lower.  I think at some point if you play 4 times on 4 separate, lower jackpots it is better than playing the same amount of tickets on one very large jackpot.

 

Your logic only applies if you keep a constant proportion of # of tickets you bought to # of total tickets bought.

 

but im pretty stoned so it might not make sense.

 

[KendrickPanther]

Don't try to play the numbers game. Buy one ticket, if its meant to be its meant to be.

[Kurb]

Party in my suite at BOA for the playoffs.

[Panthro]

I'll pass.... thanks though

[Hawk]

I'll pass too....me and Panthro will hit the bar and you guys can have your sausage fest in the suite.

[jasonluckydog]

If I win the lottery  I will buy the Huddle and allow foul language and boobies.

[Hawk]

all I ask is one million....considering the prize...that shouldn't be much to ask....and I'll even say please.

 

 

please.

[neverlosethefeeling]

Party in my suite at BOA for the playoffs.

 

Funny, I always ask myself "what would I do with that money" when the jackpots get so high. I think about all the places I could buy a property, the cars, the philanthropy. But I've never come to one conclusion besides buying a suite at BOA. That's probably the first purchase I would make.

 

That, and I'd hire Saul's guy to change my identity so none of my leech family members or friends could ever find me.

 

[pstall]

if i won i would NOT quit my job. i would show up late, smelling of bourbon. busting into high level meetings wearing a t shirt and shorts asking incredibly tough questions.

hanging up on clients and just being an overall idiot until they escorted me out.

 

THEN, i would enjoy my spoils.

[Cary Kollins]

Wasn't going to buy a ticket, then a guy I work with won a million dollars yesterday. Specifically, this guy. At the point I figured "eh, what the hell?"

So my strategy is to buy one ticket after someone I know gets insta-wealthy.

Holy poo thats crazy.

[PhillyB]

if i won i would NOT quit my job. i would show up late, smelling of bourbon. busting into high level meetings wearing a t shirt and shorts asking incredibly tough questions.

hanging up on clients and just being an overall idiot until they escorted me out.

 

THEN, i would enjoy my spoils.

 

i think i would take a while to quit my job. i need structure to keep going... i hate days off because i usually sit around feeling completely unproductive. i'd have a hell of a lot more fun doing it though.

[KendrickPanther]

Funny, I always ask myself "what would I do with that money" when the jackpots get so high. I think about all the places I could buy a property, the cars, the philanthropy. But I've never come to one conclusion besides buying a suite at BOA. That's probably the first purchase I would make.

 

That, and I'd hire Saul's guy to change my identity so none of my leech family members or friends could ever find me.

 

 

I'd tell Jerry to give me a number. A number of gallons of Bojangles sweet tea it would take for him to let me live in the Stadium.

[h0llywood]

2 dollars buys me 5 or so days of dreaming.