$1 at a time, Americans wager nearly $1.5 billion on longest of shots to become a millionaire

  • Article by: MARGERY A. BECK , Associated Press
  • Updated: March 30, 2012 - 10:51 PM
  • 65
  • Comments

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bmad123Mar. 30, 12 7:02 AM

I think I'd be fine with $30 million. (Sarcastic!) Who cares if you have a long shot, I am throwing 10-15 bucks in the pot, you never know. Such a negative story.

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orbital99Mar. 30, 12 7:56 AM

So you're saying there's a chance...

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jessy03Mar. 30, 12 8:02 AM

Someone though will shatter those odds and make winning look like a breeze...

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west336Mar. 30, 12 8:07 AM

A $1 investment to win $100, with 1 in 100 odds is a stupid investment. A $1 investment to win the EBITDA $500M, with a 1 in 176,000,000 odds is not. In the former, your life doesn't change and you probably aren't daydreaming about what you'd do with the $100....but in the latter, your life as you knew it would end and a new one would begin if you won, and even if you didn't you'd get to escape from reality for a while and feel like a kid again. For a buck, it's UNDER-priced!

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iowasenseMar. 30, 12 8:11 AM

Just like I did last Tuesday, I'll buy one ticket on the unlikely chance that I will be one of the lucky ones to get the winning combination.

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bfree271Mar. 30, 12 8:22 AM

This story leaves out a lot of details and makes some bad assumptions. If someone buys every ticket they have a fairly major operation and are certainly no doing it by themselves. Also, they assume that someone buying every ticket pays the same amount of taxes as I do who bought one. The person buying every ticket has a cost basis of over 170 million which can be deducted right off the top. If we assume 30% tax that is at least 51 million more then they would get (I do not feel like figuring out the exact numbers). This story also assumes they would only win the jackpot. If they have every ticket that means they have won every prize. 1 in 75 tickets will in $2 which is 4.6 million right there. All of the smaller winnings amount to almost 32 million which is guaranteed if you buy every ticket. This mathematician is leaving out at least 80 million in his buy every ticket scheme and they would certainly buy the tickets in a state with no income tax. I don't mind the reporting but please put 5 min of thought into it before posting.

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mspreader1Mar. 30, 12 8:59 AM

i've spent much more on dumber things...

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mxtroyMar. 30, 12 9:02 AM

There is never any guarantee of anything in life. However, if you don't vote then you can't complain, if you don't swing your not going to hit the ball, if you don't bet you're not going to win. The more you try the better your chances of success, with anything in life. :-)

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oimmigrationMar. 30, 12 9:05 AM

Someone or two or three is going to win it soon and I hope that someone is me, the one and only winner! Good luck to me!

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oimmigrationMar. 30, 12 9:10 AM

The $540 million jackpot is mine.

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