PCF Powerball Group - 12/20 Drawing - 12/22 Drawing - CLOSED (6 Viewers)

[EmptyPocs]

Its my inlaws dial up Internet

 

[Highli99]

Alright nobody better troll the group by going out and buying repeats of all the numbers we got.

 

[Tommy]

Easter egg: the 10 tickets that have a dot after the Powerball logo are the ones I went back to get.

Story here: https://www.pokerchipforum.com/threads/pcf-powerball-group-12-20-drawing-closed.138850/post-2824263

 

[frugal]

I bought in assuming this was a -EV play, but with all these people doing the math, let's do the math on this.

Estimated jackpot / ticket cost = $2.35 return on a $2 ticket.
The odds table for non-jackpot prizes brings the total EV of a ticket up to $2.669.
Assuming you live in a state with no state tax, maximum federal marginal rate is 37%, so we're actually down to $1.48 on the big drawing. To make the math simple I'll pretend there's no tax on the non-jackpot prizes, which would put us at $1.80 assuming a single jackpot winner. Must be somewhat less if you add in the odds of multiple winners.

For $25 in tickets, the expected value under $22.50, a loss of more than $2.50. Given my hourly rate (I'm not paid hourly, but it approximates the return on putting in time at work), I spent more than that writing this comment. If you add up the time I spent writing all my comments on PCF, I'm deep in the red here and that doesn't even count the cost of the chips I've bought.

 

[Highli99]

I bought in assuming this was a -EV play, but with all these people doing the math, let's do the math on this.

Estimated jackpot / ticket cost = $2.35 return on a $2 ticket.
The odds table for non-jackpot prizes brings the total EV of a ticket up to $2.669.
Assuming you live in a state with no state tax, maximum federal marginal rate is 37%, so we're actually down to $1.48 on the big drawing. To make the math simple I'll pretend there's no tax on the non-jackpot prizes, which would put us at $1.80 assuming a single jackpot winner. Must be somewhat less if you add in the odds of multiple winners.

For $25 in tickets, the expected value under $22.50, a loss of more than $2.50. Given my hourly rate (I'm not paid hourly, but it approximates the return on putting in time at work), I spent more than that writing this comment. If you add up the time I spent writing all my comments on PCF, I'm deep in the red here and that doesn't even count the cost of the chips I've bought.

You probably fold suited connectors.

 

[CraigT78]

You probably fold suited connectors.

My favorite hand? 67s

 

[Taghkanic]

If I’d just bought a bidet attachment at age 18 and invested my annual toilet paper budget into the S&P 500, I’d have an extra $27,800 right now. I’ve literally been flushing a brand new car down the toilet one square at a time.

Even better, do all your pooping at work, and save the bidet $$$ for a rainy day

 

[CraigT78]

Even better, do all your pooping at work, and save the bidet $$$ for a rainy day

I work from home

 

[Taghkanic]

I work from home

Dry leaves are always an option

 

[LowerBama1714]

Wow. What would you say your cumulative investment is? And your cumulative winnings?

FWIW:

40 x 52 x 3 = 6,240 buys. Say you bought $10 worth of tickets each time on average, that’s $62,400. If you put $30/week per year in the S&P 500 for 40 years, your investment would now be worth, based on reasonable expected rates of annual return:

7% (conservative historical average)

≈ $343,500​

8% (moderate)

≈ $457,700​

10% (strong historical nominal average)

≈ $832,900​

Even subtracting your cumulative $62K+ investment... It’s almost like winning a lottery.

GL everyone

What’s the fun in that?

 

[Taghkanic]

What’s the fun in that?

I could have some fun with $800K

 

[Thomacetti]

Not sure if PB is same as poker but if we hit…I could claim all tax free due to tax treaties.
Just saying…

 

[Tonysquander]

I can scan them myself at the store.

There’s an app for that if you want to do it from the comfort of your home

https://apps.apple.com/us/app/texas-lottery-official-app/id1139208952

It is for Texas, but will also check PB tickets. Probably a Delaware one out there too.

 

[TheOffalo]

There’s an app for that if you want to do it from the comfort of your home

https://apps.apple.com/us/app/texas-lottery-official-app/id1139208952

It is for Texas, but will also check PB tickets. Probably a Delaware one out there too.

There’s one for the CA lottery too.

Looks like there’s one for DE: https://apps.apple.com/us/app/de-lottery-players-club/id6462989506

 

[Tommy]

My local 7-11 is setup for degens. They have a stool right next to the scanner. And I need a reason to get a cherry Slurpee.

 

[EmptyPocs]

My local 7-11 is setup for degens. They have a stool right next to the scanner. And I need a reason to get a cherry Slurpee.

Nice!
But do the keep the restroom locked with an 'out-of-order' sign on it?
Don't drink the slurpee until you are done scanning.

 

[Timmah]

My local 7-11 is setup for degens. They have a stool right next to the scanner. And I need a reason to get a cherry Slurpee.

Indiana has an app that you can scan your tickets at home. It looks like Delaware has one too.

 

[Tommy]

Nothing for official for Android.

 

[LowerBama1714]

Not sure if PB is same as poker but if we hit…I could claim all tax free due to tax treaties.
Just saying…

Do sovereign citizens have to pay taxes on PB winnings?

 

[digirati]

Thanks for doing this @Tommy !!

 

[BPTDirector]

I think I’ll take my ONE TIME! Here. Who’s with me??

 

[chippitydoodah]

I think I’ll take my ONE TIME! Here. Who’s with me??

I'm holding off until 10:58pm

 

[BPTDirector]

This is my only gamble for today so all is good with using mine now.

 

[joeyshin]

Is this still open? If so im in

 

[PlaidDragon]

Wishing us lots of "run good" for tonight !!

 

[CraigT78]

Is this still open? If so im in

Who's gonna tell him.

 

[CraigT78]

Is this still open? If so im in

 

[BarrieJ3]

Who's gonna tell him.

Did we already win!?

 

[BarrieJ3]

I gave him side action. It's like side boob, but better.

 

[joeyshin]

I gave him side action. It's like side boob, but better.

I hope you guys win. I’ll get enough side action to buy back all the chips I’ve had to sell recently