Re: Is Powerball Ever +EV with a high jackpot?
 

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I only meant that when you're 10 million to win and the prize is 11 million, it's still -EV. Some people see only the "omg superrare plus EV lottery" and forget about taxes.

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Eh, semantics. If I end up with $6M after spending a few dollars, I give a flying DUCK about "+EV"

Re: Is Powerball Ever +EV with a high jackpot?
 

Even if the lottery is +EV after taxes I doubt its utility is +EV.

Re: Is Powerball Ever +EV with a high jackpot?
 

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I only meant that when you're 10 million to win and the prize is 11 million, it's still -EV. Some people see only the "omg superrare plus EV lottery" and forget about taxes.

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Eh, semantics. If I end up with $6M after spending a few dollars, I give a flying DUCK about "+EV"

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Larry:

The original question was about EV, so I think the point was legitimate and correct.

Re: Is Powerball Ever +EV with a high jackpot?
 

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The original question was about EV, so I think the point was legitimate and correct.

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If you look farther up, you see I actually answered the question (somewhat) with numbers.

As for "legitimate".... I don't think worrying about EV in a multi-state lottery is worth the effort. You don't play the lottery for the EV. You play the lottery for the huge ROI and the low buy-in.

I've yet to here a person say, after winning an 8-figure jackpot post-tax, say "Oh, I know it was a silly -EV bet, I felt really foolish for buying the ticket."

Re: Is Powerball Ever +EV with a high jackpot?
 

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Even if the lottery is +EV after taxes I doubt its utility is +EV.

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[img]/images/graemlins/wink.gif[/img] BANG

JT

Re: Is Powerball Ever +EV with a high jackpot?
 

"utility" to whom? The winner, or society as a whole (including the donators who made up the big pot)?

Re: Is Powerball Ever +EV with a high jackpot?
 

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"utility" to whom? The winner, or society as a whole (including the donators who made up the big pot)?

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The winner? If your point is the lottery is +EV for the person who wins, then I agree.

The lottery's utility is surely -EV for society as a whole, as well as each participant. An exception to this might occur for Bill Gates when the jackpot is very large. (By "the lottery" I'm referring only to the movement of money, not other things the lottery might fund. I still think it's -EV for society as a whole even when those things are factored in, but that is politics and I'm not a fan of arguing politics.)