Ask HN: Why doesn't somebody buy every combination of the Powerball?

Re:Ask HN: Why doesn't somebody buy every combination of the... by ASpring on Sunday January 10, 2016 @12:56PM (#10876245)

Here's the math for those wondering:

Odds to win = 1/292,201,338

Cost of Ticket = $2

Buying All Combinations = $584,402,676

Current Prize ~ $1,300,000,000

Takehome Annuity(1) ~ $900,000,000

Lump Sum Takehome ~ $550,000,000

You'll likely end up splitting the prize at this point with at least one other ticket which will put you in the red by over a hundred million. This is the primary deterrent.

1: After 30 years of payments. 900m is lower end after state taxes. https://www.usamega.com/powerball-jackpot.asp

[ Parent | on HN ]

Re:Ask HN: Why doesn't somebody buy every combination of the... by joezydeco on Sunday January 10, 2016 @01:16PM (#10876350)

You would also need to buy about 900 tickets per second from the moment the first drawing is over until the second one begins, hoping all the time for a rollover.

[ Parent | on HN ]

Re:Ask HN: Why doesn't somebody buy every combination of the... by pavornyoh on Monday January 11, 2016 @05:36PM (#10884125)

I have always wondered if the odds of winning is true as stated. If it is so difficult, how did Joan Ginther win it four times? Per the article, Why would Joan Ginther, a math-savvy woman with a Ph.D. from Stanford, leave her home in Las Vegas, a block from three casinos, to devote countless hours to lottery longshots

if she can be considered a legend then someone can do it with powerball?http://www.philly.com/philly/news/nation_world/How_lottery_l...

[ Parent | on HN ]

Re:Ask HN: Why doesn't somebody buy every combination of the... by iSloth on Monday January 11, 2016 @05:54AM (#10880073)

What about all the small prizes that you'd win as well?

[ Parent | on HN ]