i will win powerball
Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:37PM Reply | Return to Index | Report Post
I doubt the machines would be able to print enough tickets in 3-4 days, but assuming it was possible, do you think some multibillionaire would ever buy every possible number combination to be guaranteed to win a jackpot? For Powerball, that would cost approximately $350 million, right?
Nickelback
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:40PM - in reply to i will win powerball Reply | Return to Index | Report Post
When I worked at a gas station I would buy multiples of the same scratchers from the same roll which, was illegal and I usually came out on top.
worst poster
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:41PM - in reply to i will win powerball Reply | Return to Index | Report Post
risk is split pot

I think I recall someone doing this in VA some years ago with the state lottery (I guess), vague memory.
Nickelback
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:41PM - in reply to i will win powerball Reply | Return to Index | Report Post
When I worked at a gas station I would buy multiples of the same scratchers from the same roll which, was illegal and I usually came out on top.
i will win powerball
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:44PM - in reply to worst poster Reply | Return to Index | Report Post
Yes, I agree. That is certainly a risk.
Great Thinker
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:49PM - in reply to i will win powerball Reply | Return to Index | Report Post
It's impossible to purchase all 175 million combinations.


Imagine if you could have a ticket printed every 10 seconds. That's 1.75 BILLION seconds it would take.


1.75 billion seconds is 29,166,167 minutes = 486,111 hours.

SO if you employed 10,000 who could purchase the ticket combos that would take 48 hours non-stop.

That's just to receive the printed tickets.

How long do you think that it would take 10,000 employees to type in all of the printed combos AND receive the printed tickets? It would take forever, son. Forever.
i will win powerball
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:54PM - in reply to Great Thinker Reply | Return to Index | Report Post
Please read my original post again.
actually open 7am to 11pm once
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 4:57PM - in reply to worst poster Reply | Return to Index | Report Post
The most popular set of numbers most often played is: 1-2-3-4-5-6-7 . Thousands of tickets are bought with this combination every drawing if it comes in the payout would not cover costs of a buy every combo.
Same with combos that form a straight line on the card.
Yeah cornering the market was tried years ago I believe they won but they were at risk because the time frame did not permit them to cover all combos. I believe they contracted 7-11 to use their branches to generate the buy.
DontFeedTheTroll
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 5:26PM - in reply to i will win powerball Reply | Return to Index | Report Post
Even if you could, you'd be running the risk that someone else also picked the same winning number. Remember, you don't get the jackpot, you get a *share* of the jackpot.
Mr. Obvious
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 5:34PM - in reply to i will win powerball Reply | Return to Index | Report Post
I believe the odds on powerball are about 1 in 175 million. tickets are $2 a piece, which means you would have to spend $350 to buy all combinations.

Risks are

1. inability to manage to buy ever number (it would really be a huge management undertaking)
2. split pot
3. time value of money--the cash discounted value of tonights ~600 million jackpot is $376,000
4. Taxes

You would have to see truly spectacular jackpots (maybe $2 billion+) to make the risks worth it.
formerly present
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 6:14PM - in reply to Mr. Obvious Reply | Return to Index | Report Post
Voltaire (and a mathematician friend) made a killing in the French lottery, which had a flawed payout scheme.

http://www.damninteresting.com/the-enlightenment-guide-to-winning-the-lottery/
SlowFatMaster
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 10:42PM - in reply to Mr. Obvious Reply | Return to Index | Report Post
Assuming you COULD buy every number, the split pot risk is somewhat (or completely: can someone do the math?) offset by all the tickets you would have with 5 out of 6 of the winning numbers.
dafuq
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 10:51PM - in reply to SlowFatMaster Reply | Return to Index | Report Post
Since no one actually answered your question I will:

No I don't.
NoP
RE: Do you think anyone would ever buy every possible Powerball number combination? 5/18/2013 10:54PM - in reply to dafuq Reply | Return to Index | Report Post
Not the powerball, but this has been done elsewhere. I think some wealthy investors did it a while back. http://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html?pagewanted=all&src=pm