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Topic Title: Mega Millions
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Created On: 07/27/2022 04:44 AM
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 07/27/2022 04:44 AM
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dingpatch

Posts: 17780
Joined Forum: 07/24/2003

Roll-over to $1.025 BILLION.

But, Lump Sum, after all Federal Taxes will ONLY be about $380 Million. Crap.

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 07/27/2022 01:55 PM
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Cole

Posts: 59501
Joined Forum: 07/22/2003

I can't believe people just give away $600 million without a second thought. I'm leaving them on the hook for the whole amount.

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So long and thanks for all the fish.
 07/27/2022 03:11 PM
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tom

Posts: 7508
Joined Forum: 07/25/2003

Hardly worth buying a ticket.

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 07/28/2022 03:22 AM
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StirfryMcflurry

Posts: 6147
Joined Forum: 08/17/2016

Originally posted by: dingpatch Roll-over to $1.025 BILLION. But, Lump Sum, after all Federal Taxes will ONLY be about $380 Million. Crap.
tom , as our resident 2L math expert, can u please check ding's math
 07/28/2022 04:54 AM
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tom

Posts: 7508
Joined Forum: 07/25/2003

Hmmm, let's see. Naught times a naught is a naught. Naught times a one is a naught..... Well OK, if ding says so, looks good to me.

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 07/28/2022 06:06 AM
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StirfryMcflurry

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 07/29/2022 09:31 AM
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CurtisEflush

Posts: 612
Joined Forum: 09/28/2012

Originally posted by: tom

Hmmm, let's see. Naught times a naught is a naught. Naught times a one is a naught.....


Naught times infinity is a little different though, (in the limit sense of course). Refer to the Dirac delta function. Lots of applications in physical sciences and statistical distributions, some nice analogies in the natural sciences (e.g., very low odds of an event happening, but billions of years to give it a chance).

Not directly applicable to this lottery, but in case you want to justify a ticket purchase:

Odds of randomly picking a winner are about 1 in 302,575,350. If you could buy a ticket for $1, and the actual payout is $380M, then your reward/risk ratio is greater than the dollar you spent. But I heard the actual purchase price is $2/ticket (not sure), so risk/reward ratio is less than that. Depends on the final, actual payout value, and the number of other winners you may have to share it with.

There was a guy many years ago who bought tickets for all 14M combinations of a state lottery to guarantee a winner in the ~$21M payout, but he had to share it with two other winners. That was $7M for him at best (before taxes), so it was at least a $7M loss for him.

Your life will change a lot more if you win $380M than if you lose $2, but the odds of having to worry about the former shouldn't keep you awake at night. You'd need to win that 10 times to buy Spirit Airlines (JB paying $3.8B), but you could still get to Latin America comfortably a few times on the winnings.
 07/29/2022 10:19 AM
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tom

Posts: 7508
Joined Forum: 07/25/2003

The fun thing about math is that there is no such thing as nothing, or infinity, but you can still multiply them together just to see what happens. Biologists want to be Chemists who want to be Physicists who what to be Mathematicians who (secretly) want to be God.

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 07/29/2022 11:22 AM
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worksuxgetsponsered

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Specializing in sarcasm and condescending rhetoric since 1971.
 07/29/2022 07:17 PM
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tom

Posts: 7508
Joined Forum: 07/25/2003

This is why I still hang around here...

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