Get ready to pay more for Powerball: Ticket prices are going up to $2.
Lottery organizers hope the price change will entice more people to play because jackpots are getting bigger and the odds of winning are improving.
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7 comments:
More of my tax dollars wasted by the poor trying to win this State rigged system!
Okay let's do some math.
The odds of winning the grans prize today are 1:195,249,054 for a $1.00 ticket.
Powerball will double the price of the game to $2.00, and the odds will change to 1:175,223,510.
Double the price of the game for a very slight increase in the chances of winning. Sounds like a deal.
I'm so thankful for doubling the cost to still be a loser.
I would like to know where does the millions of dollars go that they take in now. Most people don't take the lump sum. What bank holds onto this money and who collects the interst on that money?
Yes, their greed will help me. Instead of buying 3 tickets a drawing, I will now only buy one. I will save a dollar with no measurable, or at least significant, impact on my chances of winning the jackpot which is already as close to zero as to make no odds.
10:32 How are the odds going to change by them raising their price? Wouldn't you have more of chance to win if you bought 2 tickets at $1 then 1 ticket at $2?
1:02
No,
First they are going to change the numbers to make the chance of winning on 1 game better, but not by much.
Second, the statistically best return on investment is to play only one game. Currently a $1.00 bet will give you a 1 in 195,249,054 chance to win. Buying $2.00 will give a 2 in 195,249,054 chance to win. Your chances of winning went up very slightly but your investment doubled.
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