HELP from a math major

[Independent Voter]

Just how much would it cost to cover EVERY set of numbers that could roll down the chute for the mega millions ?.

The winner will most likely walk away with 600 -700 million if taking a lump sum.
IF the prize is not split.

[Truckman]

http://www.megamillions.com/how-to-play

Odds are 302,575,350 to 1...At $2 per ticket that's $605,150,700.00 to buy one of every possible number...If it takes five seconds to print each one, you'll be standing in line at the 7-11 just under 48 years to get them all printed...The guy standing behind you waiting to pay for his coffee may get a little upset at you...When your winning number is called you'll split the jackpot with the lucky people who bought one quick pick and happened to get it right...

But if you're the only winner, you'll immediately get dinged 24% withholding tax, plus on April 15 you'll have to come up with the additional 13% because the maximum tax bracket is 37%...That means after taxes (federal only, not state)...If you choose the cash option of $902,000,000.00 you'll have $568,260,000.00 left out of your payout, leaving you with $35,890,700.00 less than you started with when you walked into the 7-11, 48 years ago...

Good luck with that strategy!......Ben

[Truckman]

It's not really as bad as that though...To be fair your other non-jackpot-winning tickets could also win some of the lesser prizes, but I'll let you do your own math on that...You'll also stand in line at the 7-11 another 48 years while the clerk checks all the tickets you trucked in with your 18 wheeler...You might want to ask some of your great-grandkids to spell you at the ticket counter while you visit the head occasionally...And somebody needs to watch all the clerks that will come and go for those 48 years to make sure they don't accidentally pocket a winning ticket......Ben

EDIT: I'm not a math major, so you might want to verify my numbers with your own CPA...

[wacojoe]

I think I’ll give it a shot because by my calculation I will get to deduct the cost of the $600M+ non-winning tickets from the tax first as expense of the enterprise. Gamblers can legitimately deduct losing bets from wins. I can even deduct that $20 from last week. Now, to get that $600M stake.

[Truckman]

I think I’ll give it a shot because by my calculation I will get to deduct the cost of the $600M+ non-winning tickets from the tax first as expense of the enterprise.

At least we'll know where to find you for the next 48 years......Ben

[Independent Voter]

Since I'm 75 now. I don't think I'll have the 48 years I would need to wait. I'll just have to trust luck and hope the $ 2.00 I spent on a ticket does the trick.

[Honda]

I generally buy a few quick pics because I don't know sometimes it's soothing to fantasize about winning it as I Fall to sleep.

[mgrist]

Shoot I don't need all that damn money I'll be dead by the time I figure out where to put it all. The biggest dream I can come up with is a 100,000 acres with a bass lake in the middle, and a fence. I'll have a helicopter drop me in a single wide to live in and a truck and boat.

[FredK]

Well didn't spend the two bucks on it. Figure I am ahead.

But it would be nice to dream of what it could do. Pay off the bills and give enough to keep the kids out of debt and started on a saving plan for the grandkids after that most of it just useless to me. Sure Mike's idea of a alot of land, lake and toys sounds great but then you got to maintain it and figure out help and who's really cares about you or is it about your money. Not worth it IMHO.

[Independent Voter]

There I was. Standing at the counter waiting for all those tickets to print and some SOB from the Carolinas up and wins MY money.

I'm devastated.

[wacojoe]

I’m hoping the dog ate his ticket, and I have another shot.

[mgrist]

I wonder how big a lake I want?