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Author Topic: USA has world largest lottery prize.  (Read 323 times)
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philipma1957
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October 20, 2018, 02:04:35 PM
 #1

I wonder if  any people overseas   would want to go in on a pool of tickets.

I would buy 50 tickets  for 100 usd and sell  49 shares . Keep 1 share for me.

If we won  it would be a glorious tax mess and make newspapers tv and internet all over the world.

Just a thought.


Not sure if a ticket is 2 usd, but I think it is.

http://www.nydailynews.com/news/ny-news-mega-millions-jackpot-largest-history-billion-20181020-story.html

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October 20, 2018, 02:48:36 PM
Last edit: October 20, 2018, 03:45:25 PM by stomachgrowls
 #2

What would be the arrangement if we do hit up the jackpot? Grin Its hard to purchase up ticket if we are on the other side of the world.
I would like to make bets or purchase shares but i would like to know on whats your response to my question..

I drooled on the odds.

the odds of matching all six numbers is one in 302.5 million.


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October 20, 2018, 05:27:59 PM
 #3

What would be the arrangement if we do hit up the jackpot? Grin Its hard to purchase up ticket if we are on the other side of the world.
I would like to make bets or purchase shares but i would like to know on whats your response to my question..

I drooled on the odds.

the odds of matching all six numbers is one in 302.5 million.

I have no idea how we could ever fix it.  But it would be a fun problem to have. Grin

We would need tax lawyers for everyone that purchased in on the ticket.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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October 20, 2018, 06:30:21 PM
 #4

I wonder if  any people overseas   would want to go in on a pool of tickets.

I would buy 50 tickets  for 100 usd and sell  49 shares . Keep 1 share for me.

http://www.nydailynews.com/news/ny-news-mega-millions-jackpot-largest-history-billion-20181020-story.html
Unfortunately, the website with news is not opening, because it says that it's not available in most of European countries. But if the lottery is so huge, would 50 tickets really make a difference? Wouldn't it be a miserable percentage with extremely low odds of winning? The idea seems interesting, but (a)I thought reselling [any] tickets illegal as a rule and (b) the idea would make more sense with buying more tickets, perhaps. I see that someone wrote the odds are 1/302,500,000. In that case, one ticket, a hundred or even a thousand don't make much difference...

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October 20, 2018, 09:09:54 PM
 #5

So the price for the ticket is $2 and the chances of winning are 1 in 302,500,000. So basically if you got $605,000,000 laying around you can easily almost triple your money. Why be a millionaire when you can be a billionaire.

You will actually get more than 1.6 billion since I think you get paid a small prize if you guessed maybe half the numbers. The chances of 2 other people guessing the correct number is very slim and even if they did you would end up breaking even.


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October 21, 2018, 01:21:09 PM
 #6

What would be the arrangement if we do hit up the jackpot? Grin Its hard to purchase up ticket if we are on the other side of the world.
I would like to make bets or purchase shares but i would like to know on whats your response to my question..

I drooled on the odds.

the odds of matching all six numbers is one in 302.5 million.

I have no idea how we could ever fix it.  But it would be a fun problem to have. Grin

We would need tax lawyers for everyone that purchased in on the ticket.
It would really be much hassle to make such transactions just on a $2 ticket  Grin


So the price for the ticket is $2 and the chances of winning are 1 in 302,500,000. So basically if you got $605,000,000 laying around you can easily almost triple your money. Why be a millionaire when you can be a billionaire.
Even i do have that money, we would really have that balls to bet that $605M of yours on buying tickets just to get that jackpot.


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October 21, 2018, 05:31:06 PM
 #7

Unfortunately, the website with news is not opening, because it says that it's not available in most of European countries

Indeed, but a bit of Google results in: http://www.megamillions.com/how-to-play
Quote
Mega Millions tickets cost $2.00 per play.

What would be the arrangement if we do hit up the jackpot?

I guess that an equal split of the prizes won would be the way to go, but of course OP has the last word in this.

I wonder if  any people overseas   would want to go in on a pool of tickets.

If you do this, you can count me in for a ticket. It should be fun.
And if it's the case, please let me know how many Satoshi to send and where.


Anyhow, people have to make their mind rather quick, since the next drawing is Tuesday.

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October 21, 2018, 06:39:10 PM
 #8

I'm in if you want to do it. Not sure if I'd go in with $50, but I'd buy a share like $10 or something. I know that the chances are extremely slim but If we got lucky and matched the numbers it would be amazing. Think about it, they'd want an interview with philipma1957 as one of the winners and he'd say that it was a group effort of bitcoiners and that we're putting it all back into bitcoin. The look on their faces would be priceless.

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October 22, 2018, 07:21:02 AM
 #9

The tax problem would be the least of your worries. We are talking about sharing it at 50 pieces, if the reward is 1.6 billion dollars than we are talking about 32 million dollars each, I don't care where you live that is an insane amount of money to get and you will live like kings if you can handle your finances.

Nevertheless, we are at the same time telling a dude to accept 32 million dollar as his share instead of getting 1.6 billion dollar and suddenly become one of the richest person alive. Considering 32 million dollar is a lot of money is correct however considering someone would take 32 million dollars over 1.6 billion dollars is silly. The "trust" here to the person who will buy it is insane and I wouldn't trust them even with my 2 dollar.

Why wouldn't I even spend 2 dollar on something like this? Not because I will be scammed, if I am scammed that is fine, however at the rarest most shocking turn of events if we end up winning and I do not get any money from that at all, than I would really turn crazy and don't know what I would do about it since there is literally not much to do about it.
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October 22, 2018, 09:30:18 AM
Last edit: October 22, 2018, 09:45:52 AM by praine
 #10

So the price for the ticket is $2 and the chances of winning are 1 in 302,500,000. So basically if you got $605,000,000 laying around you can easily almost triple your money. Why be a millionaire when you can be a billionaire.

You will actually get more than 1.6 billion since I think you get paid a small prize if you guessed maybe half the numbers. The chances of 2 other people guessing the correct number is very slim and even if they did you would end up breaking even.



The main liability of the "buying all of the numbers to guarantee a win" strategy is that the jackpot could be split, especially if a couple other billionaires have the same idea.

The USA lotteries are taxed, so you wouldn't get 1.6 Billion after your winnings have been paid. Also, you'll be asked if you want it in a lump sum or take annuity payments - the lump sum option further degrades your winning amount.
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October 22, 2018, 12:03:17 PM
 #11

The tax problem would be the least of your worries. We are talking about sharing it at 50 pieces, if the reward is 1.6 billion dollars than we are talking about 32 million dollars each, I don't care where you live that is an insane amount of money to get and you will live like kings if you can handle your finances.

Nevertheless, we are at the same time telling a dude to accept 32 million dollar as his share instead of getting 1.6 billion dollar and suddenly become one of the richest person alive. Considering 32 million dollar is a lot of money is correct however considering someone would take 32 million dollars over 1.6 billion dollars is silly. The "trust" here to the person who will buy it is insane and I wouldn't trust them even with my 2 dollar.

Why wouldn't I even spend 2 dollar on something like this? Not because I will be scammed, if I am scammed that is fine, however at the rarest most shocking turn of events if we end up winning and I do not get any money from that at all, than I would really turn crazy and don't know what I would do about it since there is literally not much to do about it.
Actually this thing comes to my mind too. Lets say 50 tickets being sold out and 1 of that tickets hit up the jackpot and lets say your number do hit it up.Are you sure that we would be comfortable on sharing up
among 49 people on the winnings supposedly that you hit up on your own? Lets say you do owe because you have joined in the group but you cant really avoid to be on rage because 1.6B jackpot isnt a joke.
We know the odds but no one knows if it hits up with 50 tickets.  Grin


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October 22, 2018, 01:53:40 PM
 #12

@coinplus You sound too negative. Look on the bright side. philipma1957 would become the most trusted person in the world if he distributes the prize afterwards. Like this story would break the internet for sure. There will be songs written about him and would go down as a legend in the history of the internet. BTW I am down. I wouldn't mind sharing my reward with the pool members. $32 Million dollars will set me for life.

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October 22, 2018, 03:51:21 PM
 #13

So the price for the ticket is $2 and the chances of winning are 1 in 302,500,000. So basically if you got $605,000,000 laying around you can easily almost triple your money. Why be a millionaire when you can be a billionaire.

You will actually get more than 1.6 billion since I think you get paid a small prize if you guessed maybe half the numbers. The chances of 2 other people guessing the correct number is very slim and even if they did you would end up breaking even.


It took me some time to realize that if 302,575,350 tickets were bought the guessing of the Jackpot combination would be 100% guaranteed. At first I thought that this situation is equivalent to that in dice when we are betting with 1/10,000 win chance and, as we all know, making 10,000 rolls doesn’t guarantee hitting the right number within those rolls. But since in our Mega Millions tickets we can pick different numbers in each ticket, the situation is entirely different. Within 302,575,350 tickets we can have all possible combinations and thus the Jackpot and all the other smaller prizes, one of which is $1,000,000, will be ours.

Only we can't rule out the possibility of guessing the Jackpot combination by 4 or more people, in which case we would end up losing big money, over 200 million USD, if we were using the above mentioned strategy.

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philipma1957
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October 23, 2018, 10:15:17 PM
 #14

@coinplus You sound too negative. Look on the bright side. philipma1957 would become the most trusted person in the world if he distributes the prize afterwards. Like this story would break the internet for sure. There will be songs written about him and would go down as a legend in the history of the internet. BTW I am down. I wouldn't mind sharing my reward with the pool members. $32 Million dollars will set me for life.

Yeah  I did not not bother to buy the 50 tickets   or collect 100 bucks.

But yeah it would have been cool.  50 people scattered around the world with two things in common  bitcointalk and 1/50 of a 1.6 billion ticket.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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October 23, 2018, 11:39:13 PM
 #15

But i think the winning chances are very think as big whales would have bought the tickets and their winning chances are more. I can also join the pool never mind of investing small amount to win big.

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October 24, 2018, 05:43:26 PM
 #16

But i think the winning chances are very think as big whales would have bought the tickets and their winning chances are more. I can also join the pool never mind of investing small amount to win big.

I actually don't think any whales or rich people ever buy into the lottery.

Most people that buy lottery tickets are usually low income or middle class individuals. The rich already have money and they are smart enough to realise that the odds are almost impossible to win so they don't gamble at all.

I think a few years back someone actually used their food stamps to buy only lottery tickets and it got all over the media and everything. No idea if you can still do that in the USA. But it goes to show you that too many people are just bad at math and don't realize that they won't ever win. That is just the facts.

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CryptoGamblingSites
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October 24, 2018, 10:49:08 PM
 #17

https://www.usatoday.com/story/news/2018/10/24/mega-millions-winning-ticket-south-carolina/1747679002/

$1.5 billion Mega Millions jackpot won in South Carolina...sheeeettt.

The odds are TERRIBLE but those interested in these huge news making lotteries (in other countries) generally use thelotter, lottoland or lotto247 type of "agent" site that buys the ticket for you. The cost is usually 2-3 times what a normal ticket costs for them to buy them for people in other countries.

There must be a market for this type of service....Gambling with decent odds is available with pretty much every other form of gambling online though.

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October 24, 2018, 11:47:18 PM
 #18

https://www.usatoday.com/story/news/2018/10/24/mega-millions-winning-ticket-south-carolina/1747679002/

$1.5 billion Mega Millions jackpot won in South Carolina...sheeeettt.

The odds are TERRIBLE but those interested in these huge news making lotteries (in other countries) generally use thelotter, lottoland or lotto247 type of "agent" site that buys the ticket for you. The cost is usually 2-3 times what a normal ticket costs for them to buy them for people in other countries.

There must be a market for this type of service....Gambling with decent odds is available with pretty much every other form of gambling online though.

Yes I heard about this "agent" before and always wondered who would use such a service in the first place. Basically you are already overpaying to get the ticket, and the odds are pretty much going to be even worse.

There is also the middle man issue, lets say you won $1.5billion and the guy just says you stole the ticket from him. Since he originally bought it, he can say he lost it and you found it and he might get the keep the winnings.

This is basically what happens in many divorces actually. Basically people are in a happy marriage until they win the lottery. And then they start fighting over the money at the divorce hearings and usually the Husband says its his money becaue he paid for it and the Wife says its her money because she actually bought the ticket. So in this scenario who would get the winnings?

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veleten
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October 25, 2018, 10:17:08 AM
 #19

1.5 bil prize is the highest prize in history
there were some epic prizes before ,too: https://www.cnbc.com/2018/03/29/who-won-the-biggest-us-lottery-prizes-ever.html
shame we will never know who won it ,unless he/she is a very very risk loving individual , it is a very lucky person indeed
hope he is one of the crypto enthusiasts and invests it in bitcoin ( well a man can dream,right)

CryptoGamblingSites
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October 25, 2018, 09:38:25 PM
 #20

https://www.usatoday.com/story/news/2018/10/24/mega-millions-winning-ticket-south-carolina/1747679002/

$1.5 billion Mega Millions jackpot won in South Carolina...sheeeettt.

The odds are TERRIBLE but those interested in these huge news making lotteries (in other countries) generally use thelotter, lottoland or lotto247 type of "agent" site that buys the ticket for you. The cost is usually 2-3 times what a normal ticket costs for them to buy them for people in other countries.

There must be a market for this type of service....Gambling with decent odds is available with pretty much every other form of gambling online though.

Yes I heard about this "agent" before and always wondered who would use such a service in the first place. Basically you are already overpaying to get the ticket, and the odds are pretty much going to be even worse.

There is also the middle man issue, lets say you won $1.5billion and the guy just says you stole the ticket from him. Since he originally bought it, he can say he lost it and you found it and he might get the keep the winnings.

This is basically what happens in many divorces actually. Basically people are in a happy marriage until they win the lottery. And then they start fighting over the money at the divorce hearings and usually the Husband says its his money becaue he paid for it and the Wife says its her money because she actually bought the ticket. So in this scenario who would get the winnings?


They scan the tickets they buy for customers before the draw. It's possible that someone tries to run with the winnings but the customer would have proof that they "held" the copy of the ticket.

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