Do you have a $ amount trigger for the lottery?

Discussion in 'Off Topic' started by Jim, Mar 20, 2011.  |  Print Topic

  1. Jim
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    Jim Silver Member

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    Mine is $100M
     
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  2. 2soonold
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    2soonold Gold Member

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    yeah, I think it's $2 a ticket.:D Not sure, since it's been awhile since I bought one.;)
     
  3. Westsox
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    Westsox Gold Member

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    No lottery in Alabama.
     
  4. DanJ
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    DanJ Gold Member

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    I put $5/week in an office pool, and I usually buy a couple tickets a week on my own when the jackpot gets over $30million. Here in Canada, we have a lot of lotteries, and the newest one, Lotto Max, goes up to $50 million, and then they start adding separate $1 million prizes in addition to the$50m. The theory being all these mega jackpots are nice, but you will make more people happy if you have a bunch of people winning a million as well. But they still need the draw of the $50m jackpot prize to sell tickets.
     
  5. mht_flyer
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    mht_flyer Gold Member

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    It has to be high, maybe 200 million. And then of course I have to remember to buy the ticket on the right day.

    We have Powerball and the Big Game here in NH, I think I bought 5 power ball tkts last year.
     
  6. JayBrian
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    JayBrian Silver Member

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    The trigger is when someone in my office collects for a group ticket buy.
     
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  7. 2soonold
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    2soonold Gold Member

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    :)I always fall for this because I just can't stand the thought that my coworkers would win, and I be left to do the work.:D
     
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  8. annerj
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    annerj Silver Member

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    LOL. That would suck!
     
  9. ralfkrippner
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    ralfkrippner Silver Member

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    It has to be at least 170MEuro. ;)

    No, usually in Germany the jackpot is get interesting above 10M€ and participation is doubling when the jackpot is above 15M or so, which happens every few months or so. Chance to win is 1 : 140 Million...
     
  10. sobore
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    sobore Gold Member

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    Has to be over $100 million, I really can not use anything less! :p
     
  11. Mike1625
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    Mike1625 Silver Member

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    There are 5 of us at work who chip in a $1 each for powerball every time the total is over $100 million (I sometimes will start in the high $90 milllions) ...... I love to say that I am never more than 4 days away from potentially retiring. By the way, for those based in the US, powerball is over $100 million right now!!!!!
     
  12. DCAview
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    DCAview Silver Member

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    My trigger is $100M, but I may need to up that. Ever since the New York Lottery added Powerball to Mega Millions, $100M jackpots have been coming around a lot more often.

    You know, with all of these $100M jackpots, I figure I should have won at least two or three of them by now. Must just be a matter of time, right?
     
  13. gpaya
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    gpaya Gold Member

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    $200 million
     
  14. PAinNY
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    PAinNY Silver Member

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    I buy them every drawing - got 5 out of 6 three times so far....I am ready!
     
  15. canucklehead
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    canucklehead Gold Member

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    Megamillions - I start to think about buying at $250M and buying at $300M -- which would be this week. Where I live, $300M would be about $200M as cash value and $120M after the Taxmen take their share.

    When I was younger (in Canada), I would buy a 6/49 at $10M (tax free and none of this cash value crap).
     
  16. Efrem
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    Efrem Silver Member

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    I know the numbers look better when the jackpot gets over $200 million or whatever. I can do the math. But, on the other hand, I can live out my life nicely on a lot less than that - and the odds of winning the big one go down then, because more people buy tickets. So, I'm starting to think that maybe the strategy is to buy only when the jackpot is small (though $40 million isn't really "small" to this retired public university professor) and there's less competition for it.

    In the final analysis, I'd rather have 2X chance of winning $40M than X chance of winning $200M. If you took economics in college, that's utility theory at work!
     
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  17. Jimgotkp
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    Jimgotkp Gold Member

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    $100M or whenever I feel lucky.
     
  18. below sea level
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    below sea level Silver Member

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    It has to be very, very high, like 8 figures. Considering you lose half to the taxman in the US, we have to at least make it worthwhile!
     
  19. Grace
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    Grace Silver Member

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    I paid the optional tax last week. With power ball over $100mil and mega millions over $300 mil i bought $5 of each. I didn't match a single number on either ticket.

    ...that's why i just consider it the optional tax.
     
  20. Casey Friday
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    Casey Friday Silver Member

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    It's funny, I only like the smaller ones, like $25k or something around that amount. I can only imagine the world of hurt I'd step into if I won over a million. However, I don't even do lotteries, I just sign up for sweepstakes/contests/etc.
     
  21. DCAview
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    DCAview Silver Member

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    I've never claimed statistics as a strength, but doesn't the chance of winning the lottery remain constant regardless of how many individuals play? The odds that any one set of numbers matches the winning set doesn't rise or fall with the number of other individuals holding tickets with different numbers.

    There's a greater likelihood that you'll need to share your jackpot with another winner as more people play, but I don't think that more players reduce your overall odds of winning. (Though if I'm wrong, please set me straight.)
     
  22. Pharaoh
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    Pharaoh Gold Member

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    I'll take a chance if it's over $100M and I'm near a ticket seller.
     
  23. sunseeker
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    sunseeker Silver Member

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    I have never bought a ticket. I keep thinking of the lottery as a tax on the poor, and the people I see buying tickets usually substantiate that viewpoint. I did think chances would be better if the amount were lower and fewer people bought tickets.
     
  24. DanJ
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    DanJ Gold Member

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    Actually your odds of winning are the same no matter how many tickets are sold. If you were the only person to buy a ticket, your odds of winning the jackpot aren't any better than if every person in the country bought one. The number of possible combinations is the same. There are just higher odds of more people winning when there are more tickets sold.
     
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