I'm pondering...
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What stops a billionaire from buying all 175 million variants of lottery tickets when the reward exceeds 250 million( here I think is the point where you would still make money after taxes)?
He or she would only lose if they had to share winnings with another winner which barely ever happens.
It sounds like a dick move, but it would be a solid investment. -
🔰࿈Ᏸลอ🔥Ᏸεαη࿈🔰 wrote:
TimeWhat stops a billionaire from buying all 175 million variants of lottery tickets when the reward exceeds 250 million( here I think is the point where you would still make money after taxes)?
He or she would only lose if they had to share winnings with another winner which barely ever happens.
It sounds like a dick move, but it would be a solid investment. -
Also, could he write his original investment off as charity since the lottery benefits school systems in its state?
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😡ҝعყʂعཞ😈Տȫƶ़ع😡 wrote:
I don't see the lottery management refusing to sell tickets in bulk.🔰࿈Ᏸลอ🔥Ᏸεαη࿈🔰 wrote:
TimeWhat stops a billionaire from buying all 175 million variants of lottery tickets when the reward exceeds 250 million( here I think is the point where you would still make money after taxes)?
He or she would only lose if they had to share winnings with another winner which barely ever happens.
It sounds like a dick move, but it would be a solid investment. -
They don't share the prize often because of the number of tickets sold. You are more than doubling the number of tickets sold, as such the chances of having to share increase dramatically.
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I don't think they'd sell you all their tickets from a single seller, they'd stop selling to you and you'd have to go somewhere else
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⊰ℐʊͣʀͩѧͩssɪƈ⊱ wrote:
I'm talking about buying directly from the lottery headquarters.I don't think they'd sell you all their tickets from a single seller, they'd stop selling to you and you'd have to go somewhere else
Hyena wrote:
Good pointThey don't share the prize often because of the number of tickets sold. You are more than doubling the number of tickets sold, as such the chances of having to share increase dramatically.
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You can't write off your losses just because they go to charity. That's idiotic. Also hundreds of millions of people buy tickets sometimes and nobody wins. It's a horrible investment.
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The state run lotteries are taxes for people who don't understand math.
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Funky Buffalo wrote:
There may be Tax loopholes that exist which may make that possible if one has a good enough lawyer.You can't write off your losses just because they go to charity. That's idiotic. Also hundreds of millions of people buy tickets sometimes and nobody wins. It's a horrible investment.
And I'm saying buy a ticket for every single possible outcome of the lottery. Basicly, he/ she buys a 100% chance to win. -
Hyena wrote:
But many people will stop buying tickets if they here a billionaire is buying half the tickets and their chances of winning have more than halved not that they had much chance before.They don't share the prize often because of the number of tickets sold. You are more than doubling the number of tickets sold, as such the chances of having to share increase dramatically.
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Here's the scoop.
1) Odds of winning are 1-175million based on a 2 dollar ticket. So in real terms it's only a good a wager if the payout is over 350 million2) To buy all the possible odds you would have to buy 175 million tickets at 2 bucks each costing you 350million. Now cosidering the annunity based payout and taxes even if you win you would only get about 35% of the total pize upfront.
So to break even in this scenario you would need to jackpot to be at least close to. Billion dollar grand prize.3) and finally there is the calculated risk factor of another player winning in which you would have to split the pot with.
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BAT SMURF wrote:
Or they buy tickets like madmen because they want to screw over the rich guy and still win a large sum of money. 125 million is still a lot for most people, and now it makes the rich guy lose millions.Hyena wrote:
But many people will stop buying tickets if they here a billionaire is buying half the tickets and their chances of winning have more than halved not that they had much chance before.They don't share the prize often because of the number of tickets sold. You are more than doubling the number of tickets sold, as such the chances of having to share increase dramatically.
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But I still buy a few for the gang for the possibility of an endless stripper and beer party 🍻😜👍
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🔰࿈Ᏸลอ🔥Ᏸεαη࿈🔰 wrote:
Ummmm you are missing some fundamental statistical/ probability understandings here.BAT SMURF wrote:
Or they buy tickets like madmen because they want to screw over the rich guy and still win a large sum of money. 125 million is still a lot for most people, and now it makes the rich guy lose millions.Hyena wrote:
But many people will stop buying tickets if they here a billionaire is buying half the tickets and their chances of winning have more than halved not that they had much chance before.They don't share the prize often because of the number of tickets sold. You are more than doubling the number of tickets sold, as such the chances of having to share increase dramatically.
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Funky Buffalo wrote:
In addition you can only deduct a certain percentage to charity based on you Gross Income then on top of that the Alternative minimum tax aka ATM will kick your ass.You can't write off your losses just because they go to charity. That's idiotic. Also hundreds of millions of people buy tickets sometimes and nobody wins. It's a horrible investment.
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@johnnyo
I've since reversed my opinion( I wrongly assumed that tickets were $1 each, having never bought a lottery ticket before).
My statements regarding batsmurfs is based on infinite amounts of lottery tickets being present( which I believe is the case). If the rich man buys enough tickets to gaurentee a win, it does not change the public's chance of winning at all. They still all have a 1 in 175M chance of winning, but now the prize is halved. However the halved prize is still just as tempting if not more so with the added bonus of causing an ( assuming arrogant) rich guy to lose money. That's my evaluation if the situation. -
Ohhhh ok so you just want to stick it to the man lolol ok.
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Johnny O 💃 wrote:
Lol not me, I refuse to partake in the lottery system ( just not liking the odds 😁). But I think the public would react that way.Ohhhh ok so you just want to stick it to the man lolol ok.
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Billionaires typically invest in tax favored investment vehicles. The tax event triggered by "winning" the lotto would make this scenario undesirable to any real billionaire investor. They're more interested in investments like gold or farmland. MLPs, and muni bonds if they're ridiculously conservative. Even equities that pay dividends if their income streams aren't already set up in that manner. Sorry, I'm a big investing nerd.
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I had a winning powerball ticket in February. The payout was $4. 😊
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Then that billionaire would have to pay a guy to do all that math and carry it out... But still a SOLID investment.
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Billionaires and millionaires have better ways of investing. The lottery is for non wealthy people. :(
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Only poor people play the lottery. It's the modern day Poor Tax.
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Roger That wrote:
Dang! I thought I was doing well with my $2 win ...I had a winning powerball ticket in February. The payout was $4. 😊
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Roger That wrote:
Man Roger that doesn't even cover the cost of one of you favorite gluten free donuts 😞I had a winning powerball ticket in February. The payout was $4. 😊
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ebenezer wrote:
Life insurance is also a vehicle used by many wealthy peopleBillionaires typically invest in tax favored investment vehicles. The tax event triggered by "winning" the lotto would make this scenario undesirable to any real billionaire investor. They're more interested in investments like gold or farmland. MLPs, and muni bonds if they're ridiculously conservative. Even equities that pay dividends if their income streams aren't already set up in that manner. Sorry, I'm a big investing nerd.
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🌾ᏦᎻᎪᏞ🌾 wrote:
👍 My statistics teacher in college calle it a tax for people who couldn't do math.Only poor people play the lottery. It's the modern day Poor Tax.
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ebenezer wrote:
My little pony farms.Billionaires typically invest in tax favored investment vehicles. The tax event triggered by "winning" the lotto would make this scenario undesirable to any real billionaire investor. They're more interested in investments like gold or farmland. MLPs, and muni bonds if they're ridiculously conservative. Even equities that pay dividends if their income streams aren't already set up in that manner. Sorry, I'm a big investing nerd.
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You do realize you can write off a gambling lose..... So the 174,999,999 tickets that didn't win are write offs. Also, u get more than just the grand prize. There are prizes for getting 5/6 and so forth...
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This would work and you would profit providing the jackpot was big enough, risk is if somebody else also has a winning ticket, then your screwed.
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