Each Wednesday and Saturday, I have tickets for a chance to win the powerball lottery. Depending on how much money I have at the time, and other random influences I usually buy 3 or 5 tickets, but when the jackpot goes over $100 million I may get 10 or more, or join in with others when it goes over $200 million. I know the chance of hitting the Grand Prize are almost 200 billion to 1, but there are 8 other prizes I could and have won.
the prizes and odds are as follows.
All 5 + the powerball Grand Prize 1 in 195,249,054.00
All 5 no powerball $200,000 1 in 5,138,133.00
4 + the powerball $10,000 1 in 723,144.64
4 no powerball $100 1 in 19,030.12
3 + the powerball $100 1 in 13,644.24
3 no powerball $7 1 in 359.06
2 + the powerball $7 1 in 787.17
1 + the powerball $4 1 in 123.48
just the powerball $3 1 in 61.74
I have hit variations of the 4 lowest payouts, and once hit 4 numbers without the powerball.
Then of course is the powerplay which multiplies your winnings times the number drawn.
For more details to to www.powerball.com
I was wondering, everyone knows what they think they would do with the Grand Prize, but what would you do if you won one of the lower prizes.
What would you do with an extra $100 or $10,000 or even $200,00?
And if you had the powerplay at 5 and won $1,000,000?
With the lower 4 I just put it back in to a later lottery drawing.
With $100 I would have a nice dinner for me and a friend.
With $1,000 it would be electronics and computer items for me and my kids.
With $200,000 it would be a new home and the stuff that goes with it (nothing fancy)
With a million I would go for a slightly better house and a new car (maybe not the corvette I want) and computer and electronics for me and the kids.
Also with the million and if I would luck into the Grand Prize there would be some people I know who would be beneficiaries of my luck.
Now how about you? What would you use the winnings on?
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Comments: 5
If you invest $100 a week instead of buying lottery ticket at 12% investment rate from age 20 through 65, you will end up with $10.5 million. The last 6 months showed 50% increase in the stock market.
I do have stock, it is slow growth but it's growing. Dividends are being reinvested plus regular growth.
If I wanted to start investing I would go to a friend who does that already, we have discussed Forex and some other side option. But then it becomes a job.
My feeling on the lottery is a spin on their ad campaign:
-You can't lose if you don't play.
If I hit it big, though, I'd pay things off and invest with most but I'd have to spend some if on something stupid (supercar, perhaps). When else do you have that opportunity?