To spread the risk variance we started an office pool with 40 tickets so far. Take a phone picture of your ticket(s) with a signature and email it to winners@mit.edu if you agree to join the pool.
You can but the more people you add, the smaller the variance is, and the closer you're likely to get to the 11% or whatever return. Some guy at MIT actually did this and made a successful hedge fund for the MA progressive jackpot.
on twitter someone made the good point: @cdixon Not post-lump sum, post-tax. Last time I tried to do the math, I ended up at a $561 million jackpot or something.
The cash option for the jackpot is $155.7M and the chances for a jackpot are 1/175.7M, plus there are a bunch of other prizes (1/4M for $250K, etc). If you multiply the cash values by the probabilities you get about $1.07 as the value of the ticket. Your losses are also tax deductible so that offsets the tax penalty for winning depending on your income bracket.
gattis commented 2 hours, 31 minutes ago
To spread the risk variance we started an office pool with 40 tickets so far. Take a phone picture of your ticket(s) with a signature and email it to winners@mit.edu if you agree to join the pool.
gattis commented 2 hours, 28 minutes ago
And do so before the drawing at 11pm... you don't want to be the only one who's not filthy rich!
hugo commented 2 hours, 20 minutes ago
i wonder if anyone has ever before flashmobbed the jackpot to game it?
gattis commented 2 hours, 15 minutes ago
You can but the more people you add, the smaller the variance is, and the closer you're likely to get to the 11% or whatever return. Some guy at MIT actually did this and made a successful hedge fund for the MA progressive jackpot.
hugo commented 2 hours, 4 minutes ago
@gattis LOL
you commented 1 hour, 1 minute ago
on twitter someone made the good point: @cdixon Not post-lump sum, post-tax. Last time I tried to do the math, I ended up at a $561 million jackpot or something.
gattis commented 6 minutes ago
The cash option for the jackpot is $155.7M and the chances for a jackpot are 1/175.7M, plus there are a bunch of other prizes (1/4M for $250K, etc). If you multiply the cash values by the probabilities you get about $1.07 as the value of the ticket. Your losses are also tax deductible so that offsets the tax penalty for winning depending on your income bracket.
gattis commented 4 minutes ago
Real unknown is how many people will play and split the jackpot, but historically it has averaged out to about 1
gattis commented 2 minutes ago
Plus if you invest you can get a much greater % return on $156M than you can on $1. Rich get richer.