US Powerball jackpot

[Dr Ralph]

US Powerball jackpot worth $2.1 billion now open to Australians

Just bought my ticket!

 

[cjd600]

Same......cheers for the heads up

 

[Deleted member]

Your odds of winning, will only be marginally improved by actually buying a ticket

 

[Dr Ralph]

Your odds of winning, will only be marginally improved by actually buying a ticket

I'll respond to that scepticism after I have the $2.1 billion in my bank account.

 

[blackcat20]

I'll respond to that scepticism after I have the $2.1 billion in my bank account.

Minus tax.

I've also got a ticket.

 

[dk4]

Aussie punters buying from Lottoland have not actually entered the draw (only US residents buying at official outlets can do that), what they have done is placed a bet with Lottoland on what the results will be. (Let's hope Lottoland doesn't go bust, or if your numbers come up - you may get nothing!)

If you win the big one, and all your numbers come up (and no one else’s do), then your payout will be the full amount less 35% (Lottoland will take that away immediately) and if you go for the lump sum (and I am not sure if you can decide between an annuity or lump sum, or Lottland determines it) then you lose 40% of that….but wait, there’s more….

If one person actually wins the "real" US Powerball draw, your winnings through Lottoland will be halved (as if two people had won). So, that’s a win, less 50%, less 35%, less 40%, less foreign transaction fees (as determined by Lottoland).... and all that gleamed from just a cursory glance at the terms!

Still a lot of money though - good luck

 

[smit0847]

Your odds of winning, will only be marginally improved by actually buying a ticket

You are more likely to be struck by lightning 246 times than win this jackpot

 

[incumbent]

You are more likely to be struck by lightning 246 times than win this jackpot

That's not how probability works.

 

[JohnK]

Your odds of winning, will only be marginally improved by actually buying a ticket

I'd say for some the odds get worse.

If people saved up and invested all the money they spend on lotteries throughout their life they'd have a nice little nest egg when they retire. Wish I'd saved up all the money I gambled away. I would have retired 12 years ago.

 

[Buzzard]

I'm sure somewhere, sometime, the jackpot will eventually be won.

 

[andye]

Your odds of winning, will only be marginally improved by actually buying a ticket

In absolute terms yes, but in relative terms infinitely

 

[BobbyFlyer]

Let's hope Lottoland doesn't go bust, or if your numbers come up - you may get nothing!

These outfits are very common in Europe, usually based in low tax domiciles. They also usually have reinsurance in place for those jackpots.

Nonetheless, I'm in..... low probability, miniscule probability etc...but you have to be in it to win it!

 

[Deleted member]

I'd say for some the odds get worse.

If people saved up and invested all the money they spend on lotteries throughout their life they'd have a nice little nest egg when they retire. Wish I'd saved up all the money I gambled away. I would have retired 12 years ago.

Wanna Bet ?

 

[JohnK]

Wanna Bet ?

Why not? $100 ok? :mrgreen:

 

[medhead]

Great news. Now, if they split that between the population of the USA they'd all get $7 mil each.



People who don't do Facebook will not understand this post.

 

[medhead]

Aussie punters buying from Lottoland have not actually entered the draw (only US residents buying at official outlets can do that), what they have done is placed a bet with Lottoland on what the results will be. (Let's hope Lottoland doesn't go bust, or if your numbers come up - you may get nothing!)

If you win the big one, and all your numbers come up (and no one else’s do), then your payout will be the full amount less 35% (Lottoland will take that away immediately) and if you go for the lump sum (and I am not sure if you can decide between an annuity or lump sum, or Lottland determines it) then you lose 40% of that….but wait, there’s more….

If one person actually wins the "real" US Powerball draw, your winnings through Lottoland will be halved (as if two people had won). So, that’s a win, less 50%, less 35%, less 40%, less foreign transaction fees (as determined by Lottoland).... and all that gleamed from just a cursory glance at the terms!

Still a lot of money though - good luck

Who gets that 50% for 2 people winning? Also what is the order of application of these deductions? the 40% and 50% presumably is applied by the power ball people. That would suggest the 35% is taken off after those deductions. so $410 million left over?

 

[Simo]

I would just like to win the lotto once even if there is a heap of fees $2.1 Billon will still work out to a nice amount.

 

[Simo]

Or just give me the interest it will earn and forget about the money transferring

 

[medhead]

Or just give me the interest it will earn and forget about the money transferring

Once worked with someone who corrected my use of wealthy by saying that "Well off is someone with money. Wealthy is when you can live on the earnings from your money." I aspire to be wealthy.

 

[Caito]

SA residents can't play??
This is taken from the lottoland website

Lotto players from Australia (except South Australia) can target America's richest jackpots and win their own world record payouts exclusively at Lottoland!