Powerplay For Powerball

Reply #9

dddwww — Sat, 16 Jan 2016 07:28:11 GMT

You can't do it that way, since you don't know what the multiplier will be when you buy your ticket you have to sum the expected returns for each multiplier

If the 10x multiplier isn't available your expected return from spending the $1 is reduced by about 6 cents.

Just to show you how awful the house odds are with Powerball, even if 10x is chosen you will only expect to get back $2.51 of your $3 investment

When 2x is chosen your expected return is 64 cents for the $3, for 3x it is 87 c... [ More ]

Reply #8

ArizonaDream — Sat, 16 Jan 2016 00:41:22 GMT

If you are doing the Powerplay when the 10x multiplier is available your expected non-jackpot return on your $3 ticket is 82 cents.

Most of the time, the powerplay multiplier is 2x or 3x, how do your numbers work out with 2 or 3x

Reply #7

Last 09son — Sat, 16 Jan 2016 00:31:58 GMT

got it

Reply #6

dddwww — Thu, 14 Jan 2016 23:07:29 GMT

Since part of my statement might have been confusing:

If you have $3 in your pocket there are three options:

1) Keep the $3 in your pocket

2) Spend $2 on a Powerball ticket and keep $1 in your pocket

3) Spend the $3 on a Powerball ticket and a Powerplay

The expected returns of each choice are:

1) $3.00

2) $1.32

3) $0.82

Reply #5

dddwww — Thu, 14 Jan 2016 23:02:12 GMT

There is no need for beliefs, personal or otherwise, when it comes to the Powerball and Powerplay.

The expected non-jackpot return of a $2 Powerball ticket played w/o Powerplay is roughly 32 cents

If you are doing the Powerplay when the 10x multiplier is available your expected non-jackpot return on your $3 ticket is 82 cents.

So in return for giving them another $1 the lottery gives you another 50 cents back.

That's my quick spreadsheet math. Powerplay tickets return a hig... [ More ]

Reply #4

Ron5995 — Wed, 13 Jan 2016 23:16:42 GMT

Firstly, the annuity value is meaningless beyond marketing. Powerball tickets are $2 each. So it would take upwards of $584 million to buy all the combinations. However, as already pointed out, would be a lousy wager due to taxes, etc plus the relatively high probability of there be at least one other winner splitting the $930 million cash jackpot.

As for adding Powerplay for an extra $1. There's many schools of thought on this, but my personal belief is it's worthwhile, since winning a lower... [ More ]

Reply #3

Last 09son — Wed, 13 Jan 2016 22:48:42 GMT

would it be the same with the annuity and the cash lump sum payment

Reply #2

gavin256 — Wed, 13 Jan 2016 21:13:07 GMT

What are you talking about? Do the math.... If you really bought all possible combinations, and even 1 person wins it with you, after all the taxes, you will lose money. Come on man.

Reply #1

Last 09son — Wed, 13 Jan 2016 19:47:52 GMT

Although possible , I really think that there won't be more than three winners.

There would still be a profit

Powerplay For Powerball

Last 09son — Wed, 13 Jan 2016 19:40:28 GMT

292.3 million for 1.5 billion!!!

Good investment or not