So I had the pot odds to call right?

[jon6784]

Thought this was rather amusing. You have a 1 in 160 million chance of winning the mega millions multi state lottery. Thie weekend the jackpot was 205 million. So I was indeed getting the correct pot odds to call.

[whileone]

Thought this was rather amusing. You have a 1 in 160 million chance of winning the mega millions multi state lottery. Thie weekend the jackpot was 205 million. So I was indeed getting the correct pot odds to call.

you forgot to take into account a split pot.

but good luck!

[BoondockSaint]

yeah there was a dude around indiana/michigan somewhere that somehow got the company to sell him the like 100 million combinations for 100 million dollars - maybe they just said if you give us a 100 million we will say you win after the numbers are drawn or something. But anyway 3 people ended up winning it because it was like huge as hell and so many tickets were sold. So he got screwed. I think it was 60 million something combinations but I can't really remember for sure it was so long ago. I saw it on the news. Anyway he did not come out ahead.

[!Luck]

I wonder of lotto ticket purchases are tax deductible.

[Spook]

I wonder of lotto ticket purchases are tax deductible.

Only to offset gambling winnings.

[JeffreyGB]

I wonder of lotto ticket purchases are tax deductible.

Only to offset gambling winnings.

So it's look something like this?
Net winnings: $204,999,999

[JeffreyGB]

I wonder if you need a receipt...

"But Mr. IRS Man, I swear I spent $200,000,000 last week buying lotto tickets! How do you think the pot reached $205,000,000?"

[whileone]

The rake on powerball tickets is like 70%... only 30% of the purchase goes into the prize pool. some portion goes back to the "fund" to pay of current winners and a big chunk goes to states. most use the cash for school. lottery scholarships and such.