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(LA Times)   The Mega Millions jackpot has reached a record $500 million as of 12pm today and with two days to go before Friday nights drawing, things are bound to go full crazy   (latimesblogs.latimes.com) divider line 229
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5012 clicks; posted to Main » on 28 Mar 2012 at 10:36 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-03-28 07:26:20 PM
Pfffft...As if it matters. I have the winning ticket, so all of you losers don't even need to bother buying one.

Seriously, stay home.
 
2012-03-28 07:26:21 PM
Still no cure for negative expected returns.
 
2012-03-28 07:33:20 PM
The odds of winning are 176,000,000 to one. Therefore, I just need to buy 176,000,000 tickets, and I'm guaranteed to triple my money!

/farkin' probability, how does it work?
 
2012-03-28 07:34:01 PM
Just what CA needs: more insanely rich people.
 
2012-03-28 07:36:56 PM

gameshowhost: Still no cure for negative expected returns.


Eh, just think of the negative expected return as the price you are paying for the joy of the daydream.
 
2012-03-28 07:41:16 PM
now that's walking around money
 
2012-03-28 07:57:25 PM
I bought 5. Might get some more tomorrow. I'm not dumb enough to expect to win, it's just fun to imagine what I could do with all of it, and you can't win if you don't play.

Besides, I've wasted $5 in far dumber ways before.
 
2012-03-28 08:00:59 PM

The Onion is prophetic: The odds of winning are 176,000,000 to one. Therefore, I just need to buy 176,000,000 tickets, and I'm guaranteed to triple my money!

/farkin' probability, how does it work?


Pot odds vs. hand odds, my friend. If the odds are 1/176,000,000 and you're getting a chance at $500,000,000 for your $1, it makes mathematical sense to play. It actually makes mathematical sense to purchase three tickets. Well, nearly, but close enough.
 
2012-03-28 08:09:22 PM
But Lisa that missing Crayon could be anywhere.

Who wants Lottery tickets?!?!
t0.gstatic.com
Ok. It's in his brain.
 
2012-03-28 08:12:43 PM
I bought one and only one because the jackpot got big.
 
2012-03-28 08:14:32 PM

GAT_00: I bought 5. Might get some more tomorrow. I'm not dumb enough to expect to win, it's just fun to imagine what I could do with all of it, and you can't win if you don't play.

Besides, I've wasted $5 in far dumber ways before.


Aren't they $2 each now? Or is Florida just screwing with everyone?
 
2012-03-28 08:15:43 PM

dahmers love zombie: GAT_00: I bought 5. Might get some more tomorrow. I'm not dumb enough to expect to win, it's just fun to imagine what I could do with all of it, and you can't win if you don't play.

Besides, I've wasted $5 in far dumber ways before.

Aren't they $2 each now? Or is Florida just screwing with everyone?


Powerball is $2 each, Mega Millions is still just one.
 
2012-03-28 08:16:35 PM

dahmers love zombie: GAT_00: I bought 5. Might get some more tomorrow. I'm not dumb enough to expect to win, it's just fun to imagine what I could do with all of it, and you can't win if you don't play.

Besides, I've wasted $5 in far dumber ways before.

Aren't they $2 each now? Or is Florida just screwing with everyone?


I paid $1 each. If I heard the woman in front of me right, Powerball is $2. This is Mega Millions, assuming the headline has the name right.
 
2012-03-28 08:21:49 PM

The Onion is prophetic: The odds of winning are 176,000,000 to one. Therefore, I just need to buy 176,000,000 tickets, and I'm guaranteed to triple my money!

/farkin' probability, how does it work?


well it has become rational to buy one now .... sort of
 
2012-03-28 08:25:42 PM
I've already gone ahead in time and discovered the numbers.

To avoid any suspicion, I'm only going to buy 5 $250,000 winners.

/well, no, I can't actually buy MM where I is.
 
2012-03-28 08:31:09 PM

GAT_00: dahmers love zombie: GAT_00: I bought 5. Might get some more tomorrow. I'm not dumb enough to expect to win, it's just fun to imagine what I could do with all of it, and you can't win if you don't play.

Besides, I've wasted $5 in far dumber ways before.

Aren't they $2 each now? Or is Florida just screwing with everyone?

I paid $1 each. If I heard the woman in front of me right, Powerball is $2. This is Mega Millions, assuming the headline has the name right.


The ticket is $1. You can pay another $1 for a "multiplier." I'm not sure how the multiplier affects the jackpot.
 
2012-03-28 08:34:55 PM
I'm thinking it will go to $6 million by Friday night, but who knows.

I was on the train this morning going to work and there was this guy sitting in front of me who had at least 20 copies that probably had ten $5 tickets on each from the last drawing. He was going thru all of the numbers without a pen or pencil for the full hour.

/Obviously an office pool but some of these people are hardcore
 
2012-03-28 08:35:25 PM

namatad: The Onion is prophetic: The odds of winning are 176,000,000 to one. Therefore, I just need to buy 176,000,000 tickets, and I'm guaranteed to triple my money!

/farkin' probability, how does it work?

well it has become rational to buy one now .... sort of


unless someone else also wins...

Earguy: GAT_00: dahmers love zombie: GAT_00: I bought 5. Might get some more tomorrow. I'm not dumb enough to expect to win, it's just fun to imagine what I could do with all of it, and you can't win if you don't play.

Besides, I've wasted $5 in far dumber ways before.

Aren't they $2 each now? Or is Florida just screwing with everyone?

I paid $1 each. If I heard the woman in front of me right, Powerball is $2. This is Mega Millions, assuming the headline has the name right.

The ticket is $1. You can pay another $1 for a "multiplier." I'm not sure how the multiplier affects the jackpot.


Powerball tix are $2. The multiplier is $1.

Mega Millions tix are $1. Its multiplier is also $1.

Neither multiplier affects the jackpot. It only affects the lower prizes.
 
2012-03-28 08:37:41 PM

dahmers love zombie: GAT_00: I bought 5. Might get some more tomorrow. I'm not dumb enough to expect to win, it's just fun to imagine what I could do with all of it, and you can't win if you don't play.

Besides, I've wasted $5 in far dumber ways before.

Aren't they $2 each now? Or is Florida just screwing with everyone?


Powerball is $2 now. My office pool won't play with them bastards anymore.
 
2012-03-28 08:42:04 PM
I threw my $5 into the office pool. If it hits, you'll never see my fatass again. I'll be in Palm Beach with my new friends.

AlwaysRightBoy: I'm thinking it will go to $6 million by Friday night, but who knows.

I was on the train this morning going to work and there was this guy sitting in front of me who had at least 20 copies that probably had ten $5 tickets on each from the last drawing. He was going thru all of the numbers without a pen or pencil for the full hour.

/Obviously an office pool but some of these people are hardcore


I guess we have it easy in Ohio. Here, all we have to do is go to a lottery seller and scan the tickets. If one is a winner, it'll let you know.
 
DAR
2012-03-28 08:42:10 PM
you know I've always thought of those lottery games as just another Federal tax @ the store....... I'm OK with throwing away a buck for a chance at being rich but no more then that........used to play a game called Powerball but when they raised the price to $2.00, ....I"m out......k/dar

oh and of course I"ll also throw in with the folks @ work just because I don't want to be the only one left @ that damn place if they won.......that would really suck.......k/dar
 
2012-03-28 08:56:06 PM

dustman81: I threw my $5 into the office pool. If it hits, you'll never see my fatass again. I'll be in Palm Beach with my new friends.

AlwaysRightBoy: I'm thinking it will go to $6 million by Friday night, but who knows.

I was on the train this morning going to work and there was this guy sitting in front of me who had at least 20 copies that probably had ten $5 tickets on each from the last drawing. He was going thru all of the numbers without a pen or pencil for the full hour.

/Obviously an office pool but some of these people are hardcore

I guess we have it easy in Ohio. Here, all we have to do is go to a lottery seller and scan the tickets. If one is a winner, it'll let you know.


You can scan 8.5x11 copies there?

We have machines everywhere in Manhattan that will let you scan the originals yourself, but not office copies.
//Are you going to trust the guy with the originals without copies? We make sure all the people paying into it have their names on the copies
 
2012-03-28 08:57:35 PM

PC LOAD LETTER: Just what CA needs: more insanely rich people.


dont you know they all already moved to texas?!?!?!
 
2012-03-28 09:08:05 PM

AlwaysRightBoy: dustman81: I threw my $5 into the office pool. If it hits, you'll never see my fatass again. I'll be in Palm Beach with my new friends.

AlwaysRightBoy: I'm thinking it will go to $6 million by Friday night, but who knows.

I was on the train this morning going to work and there was this guy sitting in front of me who had at least 20 copies that probably had ten $5 tickets on each from the last drawing. He was going thru all of the numbers without a pen or pencil for the full hour.

/Obviously an office pool but some of these people are hardcore

I guess we have it easy in Ohio. Here, all we have to do is go to a lottery seller and scan the tickets. If one is a winner, it'll let you know.

You can scan 8.5x11 copies there?

We have machines everywhere in Manhattan that will let you scan the originals yourself, but not office copies.
//Are you going to trust the guy with the originals without copies? We make sure all the people paying into it have their names on the copies


The lottery seller can scan originals, but not copies. The guy managing the pool scans and emails us the copies of the tickets.
 
2012-03-28 09:19:34 PM
so I am thinking about buying $100 worth. I can easily afford the 100.
but
I am so embarrassed that I will have to go down at like 4am to buy them so no one else sees me buying the tickets.

/sad but true
 
2012-03-28 09:23:59 PM
When the jackpots get past a certain point they grow faster than usual because you get people who normally don't play buying a ticket or two. Cause why the hell not?
 
2012-03-28 09:42:23 PM
I was going to say that if I hit the jackpot I'd treat all of Fark to a one-night drunken bender, but $500 million might not be enough money to cover the tab.
 
2012-03-28 10:09:04 PM

WhyteRaven74: When the jackpots get past a certain point they grow faster than usual because you get people who normally don't play buying a ticket or two. Cause why the hell not?


I bought $5 worth of tickets for yesterday's and I'll get another $5 for Friday's. I can probably count on one hand the number of times in my life I played the lotto before this week, but at this point even I can't ignore it.
 
2012-03-28 10:16:16 PM
Oddly it's past a tipping point. Normally, if someone plays a lottery with one chance in 175 million, you'd rightly call them an idiot. But at this point, refusal to part with $1 for a chance at half a billion dollars in return makes you the idiot. Nobody manages their finances so tightly that $1 will make an impact.
 
2012-03-28 10:17:49 PM

DamnYankees: gameshowhost: Still no cure for negative expected returns.

Eh, just think of the negative expected return as the price you are paying for the joy of the daydream.


Sure, but it gets to be a problem when "daydream" turns into "investment strategy"... and that's all too common, if not the rule. Should be the exception.

/whole thing is a giant scam to hose the poor and uneducated (subsets which overlap quite a bit)
//'let's take that money... and put it into the reduction of property taxes :D'
///'poor/dumb people buy the tickets and they don't own any property trolololo'
 
2012-03-28 10:38:20 PM
It's a sure fire bet compared to the expectation of any of us collecting social security, or any of our 401k's being worth a shiat.

/You have to be over 80 to win it anyway.
 
2012-03-28 10:40:55 PM
I chipped in $10 to buy a bunch of tickets with some coworkers.

We had $20 worth of fun laughing about all of the people we'd fire after buying the company we work for, so even in the unlikely event that we don't win the $500 million, we're still ahead.
 
2012-03-28 10:41:19 PM
As my wife reminds me, somebody is going to win this thing sooner or laterl and it's not like I'm going to turn playing the lottery into a habit. First thing to do with money like that is to buy an island and fall off the grid.
 
2012-03-28 10:41:31 PM
If I win I'm opening up a distillery in Idaho and a whorehouse in Nevada.
 
2012-03-28 10:41:40 PM
If you're throwing away $20 a week, then you can go with the "tax on people bad at math". But, there are an amazing number of Farkers that continue to prattle on with that when most of us throw away that amount of money at a fast food restaurant without a second thought.

Yes, there is an insanely small chance of winning. However, having a ticket makes your chances infinitely better than not playing.

You'd have to be kinda stupid not to throw away $5 or $10 at just the chance to walk away with the cash option check of $400m
 
2012-03-28 10:42:22 PM
And that means a free bottle for every BIE
 
2012-03-28 10:42:45 PM
OH PLEASE LORDY JESUS YOU KNOW I GOT TO WIN THIS ONE
 
2012-03-28 10:43:04 PM

Gulper Eel: I was going to say that if I hit the jackpot I'd treat all of Fark to a one-night drunken bender, but $500 million might not be enough money to cover the tab.


Just pay off Drew's tab and get yourself a 12 of Natty Light. That should just about wipe out the jackpot.
 
2012-03-28 10:43:51 PM
When I hit for half a BILLION dollars I fully intend to buy that volcano lair with the tank of sharks with frickin lasers
 
2012-03-28 10:44:39 PM
With that kind of money I could buy a MacBook AND gas up the car.
 
2012-03-28 10:45:12 PM
www.dailyrumpypumpy.com

/oblig
 
2012-03-28 10:46:00 PM
I know my shot of winning is crap, but it's well worth the $5 just to have the pleasant thoughts of what one would do with that kind of cash. All of you debt, gone. You could live anywhere you want (Big Island for me), maybe start a small business that doesn't necessarily have to run a profit, just be enjoyable...
That's why I buy a ticket, just to have the possibilities to think about.
 
2012-03-28 10:46:18 PM
A little hard work and you could turn that into some real money there.
 
2012-03-28 10:46:41 PM

Oldiron_79: When I hit for half a BILLION dollars I fully intend to buy that volcano lair with the tank of sharks with frickin lasers


To be fair, you're only going to get $360m in the cash option.

Or, of course, 19 230 769 a year for the next 26 years. So, you'll probably have to go piece-meal on the supervillian lair
 
2012-03-28 10:46:54 PM

Medical Toilet: [www.dailyrumpypumpy.com image 640x337]

/oblig


A billion chicks...
 
2012-03-28 10:47:46 PM
I don't play regularly but I bought 20 bucks worth. Hell, I'd happily split it with 5 people. Helluva party if I do. Y'all are invited. Except those troll guys.
 
2012-03-28 10:48:47 PM
Watch an ex con or convicted rapist win
 
2012-03-28 10:50:55 PM

DamnYankees: gameshowhost: Still no cure for negative expected returns.

Eh, just think of the negative expected return as the price you are paying for the joy of the daydream.



I don't have a single dream that requires $500 million. If I won that money I would either share it until it was gone, and/or blow it on shiat that I neither need nor want and would certainly not put in any effort to secure.

/if I had kids I'd probably be singing a different tune.
 
2012-03-28 10:51:32 PM
bulldg4life: Oldiron_79: When I hit for half a BILLION dollars I fully intend to buy that volcano lair with the tank of sharks with frickin lasers

To be fair, you're only going to get $360m in the cash option.

Or, of course, 19 230 769 a year for the next 26 years. So, you'll probably have to go piece-meal on the supervillian lair


Yes well, minor details. I'll also have to buy a fluffy white cat.
 
2012-03-28 10:51:58 PM
The crazy thing is that after taxes and such the $500,000,000 becomes about $200,000,000 so it only makes sense to buy one ticket.

The reason it is reduced so much is because you can either get it paid out in annual installments of $500 million/26 for 26 years or something like $350 million in one lump sum. As most people here probably know, the annuity is worth less in today's dollars than the sum of the payments, and probably about equal to the $350 million lump sum when inflation is factored in. Then throw in 40% lost to taxes and that $500 million is reduced to only $200 million.

Still a disgustingly huge amount of money, but it doesn't justify buying more than 1 ticket, or maybe two when you factor in the smaller prizes as well.
 
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