The current lottery for our Powerball Jackpot is $365M ($177M cash), so there's a lot of interest right now in playing the lottery, especially since its the biggest in the history of the game. I was discussing the matter with my barber this morning and we decided it would be better to increase the odds of winning and have more payouts at lower levels $1M-$10M, rather than tens of millions going to a few.

I guess that thinking had its genesis with a few of the discussions we've had here in the forums concerning the reduction of the income gap between the rich and poor. Wouldn't it be nice to create 10 or 20 new millionaires every week rather than creating 1 or 2 multimillinaires every few months?

This is definitely a system of redistributing the wealth that I could get behind. More people pay into the system knowing they have a better chance of winning. The payouts are still substantial and the states still make their money. Heck, a $500K payout would be pretty sweet. It should would make a difference in my life.

Out of curiosity, I visited the lottery website to check out the payouts and this is what I found.

5 + powerball = jackpot
5 = $200K
4 + PB = $10K
4 = $100
3 + PB = $100
3 = $7
2 + PB = $7
1 + PB = $4
PB = $3

So there are opportunities to win lower amounts. Now if they would just reduce the number of numbers to choose from and increase everyone's chances of winning.

Now I generally understand the reasons why this isn't done by the states, but it sure would be nice if they did.

_{And yes, after visitng the barber I bought two tickets while picking up some milk.} ;)

Great idea - won $4 on my $20 investment last Wednesday - looking for a big recoup after tonight!

We don't play except when it gets to $300,000,000 + (an amount worth winning - lol!)

What a day!

Isn't the winnings/cost ratio better for the lower jackpots? People seem like lemmings for the big jackpots.

I generally don't play at all - I understand what the probabilities mean. Unfortunately, we're at the stage right now where it's not necessarily a bad plan - $1 isn't going to hurt any of our bills, but getting a windfall is the quickest way out of our debts. I know we won't win though. We'll have to rely on one of us getting the increased salary we're angling for, and/or selling the house.

How about a reverse lottery? Where we randomly pick one wealthy person and the take all his money and redistribute evenly to everyone else.

I can't wait to get $6 out of Bill Gates...

^ now there's an idea, addendum: we should only redistribute Gates' money to those who have macs or open source as they are the oppressee's of Gates' wealth.

I just play whenever the hype gets big enough for me to think about it and like TMO said, what's a couple of bucks now and again? According to NBC News, I just heard that my chances of winning are 1 in 146 million. Well, guess there's a chance. ;)

Say, if I win, I promise to make a PTT donation. Really.

I only play when it gets huge. In california that happens alot. XD

-pdiddy~

^^ If you win, could you maybe send me, like, $2000. You have no clue what a difference that would make in my life right now...

FYI: I think statistically you have a better chance of being hit by a meteor on your way beteen your home and the store than you do to win the lottery. LOL

Last edited: Sunday, February 19, 2006 at 3:19:51 AM

Well, I won another $4 (PB+1) on my $20 investment this week. It appears that the jackpot was won.

What a day!

Biggest Jackpot here in OZ was 32 million and then 34 people won first division.

My work syndicate won 720 bucks. So we spent it on beer and a BBQ.
We were all rich for that day....

SqR

Yep, I got one (1) number right, so I got squat! Still, it was fun to imagine "what if" and think about, "Gee, we could be millionaries right now and we don't even know it" since I didn't get to check the results until Sunday afternoon. Oh well, I guess I can always try for the $15M.

@Supra - True, but when was the last time you heard of someone actually getting hit by a meteor on the way home from work? The lottery is won by someone.

Eight Meat Plant Workers Claim Lotto Jackpot

Looks like it worked out for the working man after all. ;)