Author Topic: What is your definition of... "I won the lottery"?  (Read 1561 times)

mr j

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What is your definition of... "I won the lottery"?
« on: June 28, 2016, 11:35:58 PM »
Where I live here, this state has quite a few lotto games. Powerball at the top and a daily pick 3 game, jackpot of $500. Many games in between those two.

 So if you hit the daily pick 3, should you tell people you won the lottery? I say no, its too damn low. Who gives a s**t about $500?

 So what is the correct amount from a lotto win in order to say....I won the lottery.

Ken


 

Trilobite

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Re: What is your definition of... "I won the lottery"?
« Reply #1 on: June 29, 2016, 01:21:47 AM »
1st prize

 

mr j

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Re: What is your definition of... "I won the lottery"?
« Reply #2 on: June 29, 2016, 01:26:20 AM »
1st prize


1st prize meaning top prize? Like I said, one of our lottery prizes is $500. Would you say you won the lottery with that amount?

Ken
 

Trilobite

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Re: What is your definition of... "I won the lottery"?
« Reply #3 on: June 29, 2016, 01:35:02 AM »
yep

 

Reyth

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Re: What is your definition of... "I won the lottery"?
« Reply #4 on: June 29, 2016, 01:37:59 AM »
For me if I win top prize or any "titled" prize like some regional contest or something then I would say that I won the lottery.  Otherwise I will say that I won X number of dollars in the lottery.

The problem is, I have never played nor will play the lottery though... O_o
 

mr j

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Re: What is your definition of... "I won the lottery"?
« Reply #5 on: June 29, 2016, 01:41:34 AM »
I hit that $500 a couple times. I just say I won $500.

To me....50K+, I would say I won the lottery.

Ken
 

BlueAngel

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Re: What is your definition of... "I won the lottery"?
« Reply #6 on: June 29, 2016, 06:19:22 PM »
1) How many numbers do you have to predict in order to win the 1st prize?

2) Out of how many numbers in total?

3) How much is the 1st prize?

There is a possibility of buying your way up to the 1st prize, if for example there is a jackpot of 5,000,000 and the total number of possible combinations are below the 5,000,000 then you can keep the difference by playing it safe.

Example: 1st prize is for 6 numbers out of 44, but there cannot be a combination with 2 or more times the same number.
Let's say each combination costs 50 cents, how much should be the jackpot in order to cover all of the possible combinations and still make a profit after tax??
 

mr j

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Re: What is your definition of... "I won the lottery"?
« Reply #7 on: June 29, 2016, 06:24:04 PM »
1) How many numbers do you have to predict in order to win the 1st prize?

2) Out of how many numbers in total?

3) How much is the 1st prize?

There is a possibility of buying your way up to the 1st prize, if for example there is a jackpot of 5,000,000 and the total number of possible combinations are below the 5,000,000 then you can keep the difference by playing it safe.

Example: 1st prize is for 6 numbers out of 44, but there cannot be a combination with 2 or more times the same number.
Let's say each combination costs 50 cents, how much should be the jackpot in order to cover all of the possible combinations and still make a profit after tax??

You're leaving something out.

Ken
 

BlueAngel

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Re: What is your definition of... "I won the lottery"?
« Reply #8 on: June 29, 2016, 06:25:03 PM »
If you wonder: "who is going to buy in advance 4 mil worth of lottery tickets!", the answer is a syndicate of gamblers who each member reserves the equivalent proportion of the total prize according to his/her initial investment.
 

BlueAngel

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Re: What is your definition of... "I won the lottery"?
« Reply #9 on: June 29, 2016, 06:25:44 PM »
1) How many numbers do you have to predict in order to win the 1st prize?

2) Out of how many numbers in total?

3) How much is the 1st prize?

There is a possibility of buying your way up to the 1st prize, if for example there is a jackpot of 5,000,000 and the total number of possible combinations are below the 5,000,000 then you can keep the difference by playing it safe.

Example: 1st prize is for 6 numbers out of 44, but there cannot be a combination with 2 or more times the same number.
Let's say each combination costs 50 cents, how much should be the jackpot in order to cover all of the possible combinations and still make a profit after tax??

You're leaving something out.

Ken

What?
 

mr j

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Re: What is your definition of... "I won the lottery"?
« Reply #10 on: June 29, 2016, 07:26:11 PM »
Taking the big chance of splitting it with other winners.

Ken
 

BlueAngel

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Re: What is your definition of... "I won the lottery"?
« Reply #11 on: June 29, 2016, 07:53:37 PM »
Taking the big chance of splitting it with other winners.

Ken

I guess that's a risk you could afford by knowing the very slim chances of happening.
 

mr j

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Re: What is your definition of... "I won the lottery"?
« Reply #12 on: June 30, 2016, 04:29:48 PM »
Taking the big chance of splitting it with other winners.

Ken

I guess that's a risk you could afford by knowing the very slim chances of happening.

It only takes ONE other winner and you will take a loss even if you won.

Ken
 

BlueAngel

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Re: What is your definition of... "I won the lottery"?
« Reply #13 on: June 30, 2016, 04:34:36 PM »
Taking the big chance of splitting it with other winners.

Ken

I guess that's a risk you could afford by knowing the very slim chances of happening.

It only takes ONE other winner and you will take a loss even if you won.

Ken

That's true only if size of 1st prize being determined by the total number of winners, BUT in some other lotteries 1st prizes are "fixed" amounts regardless of the total amount of winners.
 

mr j

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Re: What is your definition of... "I won the lottery"?
« Reply #14 on: June 30, 2016, 04:41:02 PM »
I bought my Mega Millions tickets for Friday night. Big money !!!!

Ken