Any interest in small PCF Powerball pool? (1 Viewer)

[inapinch]

Let’s do it!

1 ticket ($2) per line. just shoot me a message With how many you’d like. I’ll get a ticket tomorrow morning listing all numbers. I’ll share ticket in private message immediately upon purchase Tomorrow. Pool style, if anyone hits, we all hit!

 

[Darson]

Explain this to me.

If it's a 1 in 292,201,338 chance of winning and the Jackpot is 1.5B and it's $2 per ticket then buying every number will guarantee a win - spend $600 million and win 1.5 billion?

 

[TheOffalo]

Explain this to me.

If it's a 1 in 292,201,338 chance of winning and the Jackpot is 1.5B and it's $2 per ticket then buying every number will guarantee a win - spend $600 million and win 1.5 billion?

Yes, but it's the logistics of buying 300 million tickets...

 

[TheOffalo]

maybe 20-30ish person max? all numbers shared in group private message? I’m sure many of you are in a few pools, so was curious about starting a degen pool as well. thoughts?

I'd be interested depending on amount. Anyone in a state that allows winners to be anonymous?

 

[RocAFella1]

Don’t forget Uncle Sam

 

[PlayerADK]

Explain this to me.

If it's a 1 in 292,201,338 chance of winning and the Jackpot is 1.5B and it's $2 per ticket then buying every number will guarantee a win - spend $600 million and win 1.5 billion?

Correct, but you also have to consider the 30-year annuity vs cash option (which is less than you'd pay, 600m haha)

(light breakdown of some stats https://www.wcvb.com/article/powerball-odds-gurantee-jackpot-win-oct-31-2022/41819549# )

 

[inapinch]

I'd be interested depending on amount. Anyone in a state that allows winners to be anonymous?

we'd have to go with the powerball play option to hit jackpot, which makes the ticket $3 per. And, the pool option is almost always a lump sum cash option so everyone gets payouts in a somewhat reasonable timeframe.

Also, I'm not quite sure if this is an allowable thread since it entails gambling and powerball? I guess I could brush up in the docs somewhere

I'm located in CO, but anyone from a non-powerball state would also be welcome to play in this pool.

 

[TheOffalo]

I thought Power Play increased the non-jackpot winnings, not that you have to opt in and pay an extra buck to qualify for the jackpot.

California does not have the Power Play option so all tickets are $2 and all qualify to win the jackpot.

 

[inapinch]

I thought Power Play increased the non-jackpot winnings, not that you have to opt in and pay an extra buck to qualify for the jackpot.

California does not have the Power Play option so all tickets are $2 and all qualify to win the jackpot.

you're right! I just googled it. I've had the wrong assumption about that for years haha. thank you for that. This pool will be for the jackpot only (no powerplay)

 

[Poker Zombie]

Explain this to me.

If it's a 1 in 292,201,338 chance of winning and the Jackpot is 1.5B and it's $2 per ticket then buying every number will guarantee a win - spend $600 million and win 1.5 billion?

...and pray that 2 other people don't also hit. Split 3 ways, your share becomes less than 600 mil

 

[inapinch]

If anyone is interested, please send me a message tonight, if we do get a pool going, I’ll buy the tickets tomorrow morning.

 

[Frogzilla]

Explain this to me.

If it's a 1 in 292,201,338 chance of winning and the Jackpot is 1.5B and it's $2 per ticket then buying every number will guarantee a win - spend $600 million and win 1.5 billion?

Yes you need to look at cash value (especially with inflation annuity rates), but then in your favor is there are a material amount of non jackpot prizes, and then not in your favor there is tax asymmetry. It looks close +EV for lottery…certainly much closer than it usually is

 

[Darson]

Yes you need to look at cash value (especially with inflation annuity rates), but then in your favor is there are a material amount of non jackpot prizes, and then not in your favor there is tax asymmetry. It looks close +EV for lottery…certainly much closer than it usually is

Not only the jackpot but also all the lesser prizes. Definitely +Ev. I seem to remember reading something about a couple that did something like this.

Edit: found it https://www.cbsnews.com/amp/news/je...millions-using-a-lottery-loophole-60-minutes/

 

[inapinch]

had some great questions, here’s more details if this helps:

1 line per person ($2). no powerplay. If anyone hits, we all win. I’ll purchase in the morning and share the ticket with all numbers in direct message.
lump sum cash payout split equally

I’ll update original post with this info

 

[Frogzilla]

Not only the jackpot but also all the lesser prizes. Definitely +Ev. I seem to remember reading something about a couple that did something like this.

Edit: found it https://www.cbsnews.com/amp/news/je...millions-using-a-lottery-loophole-60-minutes/

I read long ago about the MIT blackjack team found and played +EV state lottery spots maybe it was Michigan? Minnesota? Somewhere around there I think

 

[joeyshin]

i'm in for 10 tickets

 

[TheB00T]

Put me down for 1, why not? Had said 10 entries but looks like limited to 1.

 

[joeyshin]

i'm in for 10 tickets

Put me down for 1, why not? Had said 10 entries but looks like limited to 1.

Okay just 1

 

[inapinch]

you’re welcome to buy as many lines as you’d like, I just realized it doesn’t hurt anyone’s chances, only improves or odds as a group lemme know if anyone has any questions!

 

[Poker Zombie]

Put me in for a line.

• Partially because it's +EV
• A little more because I'm too damn lazy to drive into town again for just a lotto ticket
• But mostly because if I can get felted continuously by PCF'ers during meet-ups, Y'all must be the luckiest sons of bitches ever, and I can't lose by joining forces.

 

[Josh Kifer]

had some great questions, here’s more details if this helps:

1 line per person ($2). no powerplay. If anyone hits, we all win. I’ll purchase in the morning and share the ticket with all numbers in direct message.
lump sum cash payout split equally

I’ll update original post with this info

I'm in.

 

[TheOffalo]

So each person gets a proportional share of the jackpot to what they put in? @joeyshin'd get the lion's share, but we all get the benefit of the collective number of tickets...

Oh wait, he put it back to 1 to match everyone else.

 

[inapinch]

So each person gets a proportional share of the jackpot to what they put in? @joeyshin'd get the lion's share, but we all get the benefit of the collective number of tickets...

Oh wait, he put it back to 1 to match everyone else.

We split equally regardless of how many lines you’d like

 

[Josh Kifer]

So each person gets a proportional share of the jackpot to what they put in? @joeyshin'd get the lion's share, but we all get the benefit of the collective number of tickets...

Oh wait, he put it back to 1 to match everyone else.

I'll buy more then one line and be perfectly happy with my 1/34th if we win. I'm classy like that.

 

[TheOffalo]

I'm in for 1 3 lines.

 

[doublebooyah85]

I’m in for 10 lines!

 

[ConsensualPresidency]

I’m in for one line

Edit: I’m in for 5 lines

 

[colter ripton]

Im in for 5 lines

 

[harrysallout]

I’m in for 5 lines

 

[PlayerADK]

im in for whatever y'all are doing, 10 works