Your 45th President in 2012! asked:


I know I am. I’m playing the same eight tickets that I played last Friday which I created from lots of kin folks’ ages and their birthdates. Anybody else gonna be shooting for it?

Allen

pmugri asked:


At a certain prize level it makes statistical sense to buy a Mega Millions lottery ticket.
What is grand prize amount that makes it make sense?
I asked this question previously, but didn’t get any math answers. I did the stats myself and came up with the number of $303M.
The small amounts contribute about 22 cents of expected value.
The chance of 1 or more winners is 1 in 176 M, = (5/56*4/55*3/54*2/53*1/51&1/46)
The chance of exactly 1 winner is 1 in 212M
The chance of exactly 2 winners is 1 in 1.2B
The chance of exactly 3 winners in 1 in 7B

The jackpot contributes 78 cents of after tax lump sum payment expected value when the jackpot is 303M.

PrizeOddsPercentEV
$250,000 3,819,816 0.00003%$0.07
$10,000 650,783 0.00015%$0.02
$150 14,147 0.01%$0.01
$150 12,515 0.01%$0.01
$10 708 0.14%$0.01
$7 272 0.37%$0.03
$3 98 1.0%$0.03
$2 46 2.2%$0.04
Total $0.22

Albert

Neighbor asked:


Mega Millions tickets cost $1 per play. Players may pick six numbers from two separate pools of numbers: five different numbers from 1 to 56, and one number from 1 to 46. You win the jackpot by matching all six winning numbers in a drawing. According to the Illinois Lottery website, the chances of winning are given in the table.

Match White Match Gold Prize Chances
5 1 Jackpot 1 in 175,711,536
5 0 $250,000 1 in 3,904,701
4 1 $10,000 1 in 689,065
4 0 $150 1 in 15,313
3 1 $150 1 in 13,781
2 1 $10 1 in 844
3 0 $7 1 in 306
1 1 $3 1 in 141
0 1 $2 1 in 75

Right now the jackpot is worth $12 million. If you buy a ticket, what is the expected value?

How much would the jackpot have to be for the expected value to be more than $0? (Assume that you were the only one to choose the winning numbers)

Floyd

whynot asked:


last nights lotto on 275 million jackpot, how much did I win if I got 2 numbers and the mega #?

Darrell

GT500 asked:


tomrrow?

Clinton

Bree Van de Kamp asked:


okay my boyfriend asked me to go get him a $5 quick pick, but he keeps talking about the $207 million mega millions jackpot. is a quick pick the same thing? if not how do i play mega millions?
yeah i looked on the website and just figured that out

BUT it said mega millions is $1 and he asked for a $5 quick pick is that still the same thing? and is the $5, 5 different games?

Cory

Z asked:


http://d.yimg.com/us.yimg.com/p/ap/20070307/capt.nysf10303070506.mega_millions_jackpot_nysf103.jpg

Kimberly

kingcq45 asked:


If you won a prize such as $10,000 or $250,000, and if there were multiple winners do you have to share the money, and if you won the mega millions jackpot lets say $12M, and if there were you and 10 more winners, how would they divide the money and give it equally to all the winners?

Melvin

Zackary M asked:


ok.. about almost a week ago we had won the mega millions jack pot so excited…

were thinking of moving to weston florida what u think

Donald

sukimaindyah asked:


I did not play but i am curious to know.

Timothy