View Full Version : Powerball
... is now over,
ONE BILLION DOLLARS.
Divemaster
01-10-2016, 10:27
Glad I could help push it over the top. :rolleyes:
Ah, so this is what those numbers REALLY mean ....
(1VB)compforce
01-10-2016, 15:09
... is now over,
ONE BILLION DOLLARS.
Heh, I bet $20 on it and won $96 so I now have $60 worth of tickets for Wednesday, my original $20 and $16 in profit... I can live with that :)
CAARNG 68W
01-10-2016, 15:49
Numbers running by the state.
At this point, you could purchase tickets with each of the 292.2 million possible combinations and still come out ahead. :D
S.
(1VB)compforce
01-10-2016, 20:20
At this point, you could purchase tickets with each of the 292.2 million possible combinations and still come out ahead. :D
S.
Unless you end up splitting, in which case you are out a whole lot of cash...
Unless you end up splitting, in which case you are out a whole lot of cash...
True...
And if I had $292.2 million I wouldn't need to play the lottery. :cool:
At this point, you could purchase tickets with each of the 292.2 million possible combinations and still come out ahead. :D
S.
The first five numbers are chosen from 69 balls, numbered 1-69. The sixth number, or Powerball number is chosen from 26 balls numbered 1-26. The number of potential combinations to win the total prize is:
69*68*67*66*65*26 = 35,064,160,560
Tickets cost $2.00. In order to purchase tickets with every combination of possible outcomes, it would cost $70,128,321,120.
(1VB)compforce
01-11-2016, 14:42
The first five numbers are chosen from 69 balls, numbered 1-69. The sixth number, or Powerball number is chosen from 26 balls numbered 1-26. The number of potential combinations to win the total prize is:
69*68*67*66*65*26 = 35,064,160,560
Tickets cost $2.00. In order to purchase tickets with every combination of possible outcomes, it would cost $70,128,321,120.
...
Some persons who enjoy statistics (they do really exist) will come up with odds of 1 in 17 billion for the jackpot prize. Remember that you don't need to match the numbers in exact order - we use combinations to determine the probabilities for the first five white balls and not permutations.
http://www.powerball.com/pb_contact.asp
Unfortunately I am one of those people who enjoy statistics ( a sadist) and likes to figure out just how low my odds of winning actually are (doubly sadistic)
the formula for the first five would be
n!/r!(n-r)! where n is the number of balls (69) and r is the number of draws (5)
or
69!/5!(69-5)!
which is
~1.711e^98/120(~1.2688e^89) = 11,238,513
that e^98 is meant to mean "times ten to the 98th power" but adding exponents to the text didn't work so I used the shorthand. It does not mean e where e=~2.7
Then you have those odds times the number of power balls (26)
11238513 * 26 = 292,201,338
at $2/ticket it would cost $584,402,676
A more important statistic is EV (Expected Value) which tells us what the value of a ticket really is. In the real, non-lottery, world you use this to figure out what the right price for a gamble is (or how many Powerball tickets to buy to maximize your return). Poker players use it to figure out how much to bet on a given hand.
Here's a pretty good explanation of EV as it relates to Powerball:
http://www.slate.com/articles/life/do_the_math/2001/08/is_powerball_a_mugs_game.html
http://www.powerball.com/pb_contact.asp
Unfortunately I am one of those people who enjoy statistics ( a sadist) and likes to figure out just how low my odds of winning actually are (doubly sadistic)
the formula for the first five would be
n!/r!(n-r)! where n is the number of balls (69) and r is the number of draws (5)
or
69!/5!(69-5)!
which is
~1.711e^98/120(~1.2688e^89) = 11,238,513
that e^98 is meant to mean "times ten to the 98th power" but adding exponents to the text didn't work so I used the shorthand. It does not mean e where e=~2.7
Then you have those odds times the number of power balls (26)
11238513 * 26 = 292,201,338
at $2/ticket it would cost $584,402,676
A more important statistic is EV (Expected Value) which tells us what the value of a ticket really is. In the real, non-lottery, world you use this to figure out what the right price for a gamble is (or how many Powerball tickets to buy to maximize your return). Poker players use it to figure out how much to bet on a given hand.
Here's a pretty good explanation of EV as it relates to Powerball:
http://www.slate.com/articles/life/do_the_math/2001/08/is_powerball_a_mugs_game.html
Fuck it ... I'm moving to Kentucky.
:eek:
Unfortunately I am one of those people who enjoy statistics ( a sadist)...
Actually, that would make you a masochist. Now, enticing me to read your post, that makes you a sadist. :D
Pat
(1VB)compforce
01-11-2016, 15:17
Actually, that would make you a masochist. Now, enticing me to read your post, that makes you a sadist. :D
Pat
so... it was a freudian slip...
Fuck it ... I'm moving to Kentucky.
:eek:
Now that's some funny chit.
http://www.powerball.com/pb_contact.asp
Unfortunately I am one of those people who enjoy statistics ( a sadist) and likes to figure out just how low my odds of winning actually are (doubly sadistic)
the formula for the first five would be
n!/r!(n-r)! where n is the number of balls (69) and r is the number of draws (5)
I calculated for a permutation without repetition instead of a combination without repetition, or replacement.
1stindoor
01-12-2016, 07:00
Actually, that would make you a masochist. Now, enticing me to read your post, that makes you a sadist. :D
Pat
Best way to remember the difference....
Sadist and a Masochist are walking down the street,
Masochist says, "hit me! hit me!"
Sadist says, "noooooooooo.":D
mark46th
01-12-2016, 08:56
The first thing to do if you win this thing is to take the battery out of your cell phone, then buy a burner phone. The next thing you do is move into a hotel under an assumed name...
Guymullins
01-12-2016, 10:10
The first thing to do if you win this thing is to take the battery out of your cell phone, then buy a burner phone. The next thing you do is move into a hotel under an assumed name...
Buy a hotel under an assumed name. Mr. Duck?
spherojon
01-12-2016, 17:16
69!/5!(69-5)!
which is
~1.711e^98/120(~1.2688e^89) = 11,238,513
that e^98 is meant to mean "times ten to the 98th power" but adding exponents to the text didn't work so I used the shorthand. It does not mean e where e=~2.7
Then you have those odds times the number of power balls (26)
11238513 * 26 = 292,201,338
Odds are 1 in 292,201,338?
Team Sergeant
01-13-2016, 12:30
Damn.
I was hoping the odds were a bit better than that as I've already spent most of it in anticipation of winning today......
The TRO shop where I buy my tickets has a lottery display - only three box lights so it's stuck on $999 million.
Buy two power play quick picks for every Wednesday and Saturday drawing.
My standard is getting one number out of the two tickets.
Losing numbers for tonight are - not in ticket order - 4, 6, 7, 18, 34, 35, 38, 38, 48 and 64. Power Ball 15 & 25.
Seems like everyone is getting in on this ...
:D
Pentagon Spends $10 Million On Powerball Tickets With Hopes Of Bolstering F-35 Program
THE PENTAGON — The Department of Defense announced today that it has purchased five million Powerball tickets at a cost of $2 per ticket, with an aim of providing a funding windfall to the F-35 Joint Strike Fighter program.
“This is a minor fiscal gamble, but the Pentagon is always willing to lay out a few extra bucks in order to ensure we continue to have the most advanced military in the world,” said Secretary of Defense Ashton Carter, flashing a giddy smile. “Daddy needs a new pair of shoes, and a dozen new F-35s for the Navy’s Pacific Fleet.”
The F-35 program has been beleaguered by cost overruns, with a projected lifetime program cost of at least $1.5 trillion. The estimated $1.5 billion dollar Powerball jackpot would amount to only one-tenth of one percent of the total program cost, but it’s an important step in the Pentagon’s search for additional sources of revenue in the face of Congressional questions about the program. With the odds of winning the Powerball jackpot standing at 1-in-292,000,000, the five million tickets give the Pentagon a 1-in-58 chance of winning the jackpot.
A reporter brought to Carter’s attention that the jackpot only totals $1.5 billion dollar jackpot if the Pentagon elects to take the annuity paid out over 29 years, and the alternative lump sum payment would amount to less than $900 million.
“Well, shit,” said Carter. “There’s no sense in taking a 29-year annuity when the F-35 will be obsolete by that time and on the auction block to Iran and Saudi Arabia. But the lump sum payment would still buy three or four F-35s today, I believe.”
The reporter then pointed out the IRS would take almost half of the lump sum payout, leaving the Pentagon with around $500 million. They also noted the Navy’s F-35C variant costs $337 million per unit, leaving the Pentagon able to buy less than two F-35s for the Navy.
“I don’t understand why you guys would even question this,” said a visibly frustrated Carter. “That would still be two more F-35s than we had previously, with a capital expenditure of only ten million dollars in Powerball tickets. That’s a steal.”
Some reporters were critical of the Pentagon gambling taxpayer money in a lottery, leading Carter to become more defensive.
“Look, we’ve already wast—er, expended an extraordinary amount of taxpayer money on this program, so a paltry $10 million is a drop in the bucket,” said a defiant Carter. “No one would have ever noticed this program accruing an extra $10 million in costs if we hadn’t announced it. That’s a damn rounding error.”
As reporters vied to ask the next question, Carter complained, “Gee, I thought you guys would have been more excited about this announcement,” before throwing his hands in the air in exasperation and walking away from the podium.
UPDATE: Duffel Blog has learned that due to a clerical error the Pentagon submitted only five combinations of numbers, with each combination submitted a million times. This has reduced the Pentagon’s chances of winning the Powerball jackpot from 1-in-58 to 1-in-58,000,000. Despite the setback, Carter remains optimistic the Pentagon will now be holding a million winning Powerball tickets.
http://www.duffelblog.com/2016/01/pentagon-spends-10-million-on-powerball-tickets-with-hopes-of-bolstering-f-35-program/?utm_campaign=coschedule&utm_source=facebook_page&utm_medium=Duffel%20Blog&utm_content=Pentagon%20Spends%20$10%20Million%20On %20Powerball%20Tickets%20With%20Hopes%20Of%20Bolst ering%20F-35%20Program
x SF med
01-13-2016, 14:49
so... it was a freudian slip...
Why are you wearing Freud's slip?:rolleyes: and why is it in shades of grey?:eek: