Lotto fever.

[lesliepaul]

I want to experience all of the problems so many of these BIG PRIZE winners have suffered through and how winning ruined their lives.

1. I know how to walk a cheque to the bank.
2. I do not need a financial planner or ANY kind of money manager.
3. Pack nothing and get the out of Kelowna for 4 months...…..note to self...…"remember to lock door".

Sorry to tell you but you won't be walking a cheque to the bank if you win a large jackpot. If claiming at BCLC, all prizes are made payable by cheque. Only claims greater than $25 Million will be paid via wire transfer.

Darn, now you ruined it for me!

[OKkayak]

People don't buy these tickets cause they think they'll ever win, that's stupid.

Sure they do.

and I bet none of them felt they stood a chance.

Of course they did, otherwise they wouldn't have bought a ticket.

$70M? I'd buy Castanet and ban the lot of you

[oneh2obabe]

Keep on dreaming guys - no winner so Tuesday's jackpot is $70M.

[seewood]

Keep on dreaming guys - no winner so Tuesday's jackpot is $70M.

Dang, going to have to wait a bit longer for my helicopter I guess.

[whitecandle]

^^^Sorry - just got the winning ticket from Ontario.

[Queen K]

Ha, good one.

quote="oneh2obabe"]Keep on dreaming guys - no winner so Tuesday's jackpot is $70M.[/quote]

I still got a chance?

If I'm "desparate" enough I'll buy a ticket, but got out of the habit a long time ago.

[Bsuds]

I guess a 1 in several million chance is better than zero chance if you don't buy a ticket!

[oneh2obabe]

1 winner in Ontario takes home the $70M jackpot ... damnit all to hell, wasn't my ticket.

[seewood]

If you don't give any away, 70 mill at a 4% return then a 50% tax bracket will leave you $3835.61 per day based on 365 days.

Should be able to afford 1961 Balveinie then.

However, so many great charities to donate to today.

[oneh2obabe]

Winning ticket was purchased in Brampton ... brother-in-law lives there but he never buys lottery tickets so I know it's not him.

[motokelowna1]

Never buying lotto Max again . Im sure that when you see winners they are from the West , and here you have 99% of this lottery is in the west. Is there an conspiracy who knows. Am I jealous no you have to be in it to win it . I am buying only local lotteries from now on and hope that the money stays here in BC.

[Jonrox]

1 in 33,294,800. A guy I was talking to on vhf radio said he bought 100 sets of numbers... quick picks, he actually thought he can divide the 33 mil by that and increase the odds to 1 in 330,294. I explained to him that instead of 1 in 33,294,800, he was at 1 in 33,294,700...He didn't get it.... I gave up. No offense to truck drivers ,but there is a reason why some people are truck drivers.

The guy you were talking to was right.

With one ticket, the odds are 1/33,294,800. By buying his 100 tickets he changes the odds to 100/33,294,800 which simplifies to 1/332,948.

In other words, he has 100 out of the possible 33,294,800 combinations, which expressed as a fraction is 100/33,294,800. Divide the numerator and denominator by 100 and you get a 1/332,948 chance at winning.

So you can maybe see this better, I'll use a slightly larger number of tickets. Let's say you bought half of the possible ticket combinations... or 16,647,400 tickets. Your way of explaining things would suggest the odds are now 1 in 16,647,400. But simple math (and common sense) says that if you buy half of the possible combinations you have a 50/50 chance at winning.

Or even more exaggerated, let's say you buy 33,294,790 tickets.Your math suggests a chance of winning of 1 in 10. When really it's almost a guarantee to win with having 33,294,790 tickets out of 33,294,800 possible combinations. You don't have a 10% chance at winning at that point, you have a 99.99996% chance at winning.

[oneh2obabe]

The guys been on a winning streak the last couple of years. Now the long-lost relatives will be coming out of the woodwork with sob stories.

TORONTO -- A Brampton man is $70 million richer after winning a record-breaking Lotto Max lottery jackpot in the Greater Toronto Area.

“I’m overwhelmed, excited, happy and shocked but mostly, I feel very, very blessed,” winner Adlin Lewis said in a statement.

The cheque, which is the biggest lottery prize in Canadian history, was presented to the 49-year-old credit risk manager at the OLG Prize Centre in Toronto Monday.

“When my colleagues found out that the winning $70 million … ticket was sold in Brampton, they were joking at the office ‘Is Adlin here? Did Adlin call in sick today?’” he said.

https://toronto.ctvnews.ca/brampton-cre ... -1.4767150

[Jonrox]

I thought it works by taking 100 different combinations of numbers off of the top.

It doesn't. I'll give a slightly more ridiculous example to explain it a bit better...

The odds of winning with 1 ticket are 1 in 33,294,800. Using the math you indicated, let's say someone buys 33,294,798 tickets - leaving just 2 possible ticket combinations un-bought. Your math would suggest the person now has a 1 in 2 chance of winning... which in other words is 50/50.

However, I think you'd agree that the odds of winning are much, much higher than 50/50 at this point.

The number of tickets bought is what the numerator of the fraction is. The total number of possible combinations is what the denominator is. In this case the person has a 33,294,798/33,294,800 which is virtually a guarantee of winning (99.99999399%).

[Jonrox]

^^^ So with your previous example, if someone bought 10 sets of 7 numbers you are saying they have a 1 in 3.3 million chance....somethins a wrong with that
Even the lotto corp admits you just subtract whatever amount of 7 sets of numbers you buy right off the top.
Trying to find the website I'm thinking of... but this is one explains what I'm getting at a bit better.
https://www.casino.org/blog/does-buying ... your-odds/

Or...If you buy 100 tickets with 7 number combos as in Lotto Max, you have a chance of 100 in 33whatever million.

The lotto Corp doesn’t admit that. That’s just not how odds work.

And yes if you buy 10 tickets your odds are 1 in 3.3 million and if you buy 100 tickets, your 100 in 33 million reduces down to 1 in 330,000. Still astronomical odds.

In the link you sent you can see that it says...

Those are odds of 1 in 292,201,338 according to the Powerball website. Buying 2 tickets gives you odds of 2 in 292,201,338.

As you can see your odds don’t change to 1 in 292,201,337 if you buy 2 tickets... it changes to 2 in 292,201,338.

You’re a bit confused on how the math works. Is there something in the earlier extreme examples I gave that you disagree with or don’t understand? I can try to explain it a different way if you like.