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/biz/ - Business & Finance

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11463433 No.11463433 [Reply] [Original]

Even after taxes they would be up.

Even if someone else won and they had to split, they would still be up.

>> No.11463461
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11463461

>>11463433
this is the dumbest question i've ever read on /biz/ and you're too stupid to even feel bad about that.

>> No.11463506

>powerball
dude, can you read. the game is mega millions and the cost for that would be in the 600 million dollar range. assuming they don't split and take a lump sum they would be taking a loss of ~200 million dollars after taxes

>> No.11463524

>>11463433
>Great question, OP

Because anyone can buy tickets with any number on them. You can buy all combinations and guarantee a winning number but there's no way to guarantee that no one else gets a winning number as well (which will divide the prize among all the winners.)

Furthermore, in a theoretical situation where any given number could only be assigned to one person, the payout would at best be as much as the amount payed in so even if you bought all the tickets you would be negative.

>> No.11463532

>>11463433
You think the lotto authorities didn’t think of this? That’s why when you take the lump sum it’s not the full amount that you technically won, also when account for taxes and you’d be majoraly fucked.

>> No.11463533

Let’s ignore the fact it would take several years to print up all possible combinations but yea they should totally go for it

>> No.11463543

>>11463433
1) Because if someone else won as well (semi-common at high jackpots), then you split the winnings and are down
2) Can only buy physical tickets and with cash. Even if you could find a place with 300 million ticket papers and even if you could magically fill/buy them at 1 per second, it would take you over 9 years to finish the process.

>> No.11463551

>>11463433
There was a company that did this a while ago and I think they passed laws against it. But like everyone else has said it’s not a guaranteed profit ever.

>> No.11463593

Do you realize how long it would take to buy that many tickets? If you bought a ticket every second you could buy roughly 260k tickets between drawings. It would take 3472 days to buy every combination at 1 ticket/second. You would have to hire a 1000+ people to buy the tickets in time for the next drawing.

>> No.11464388

>>11463433
>1million^$1millionth ticketstickets

You should try it

>> No.11464407

>>11463593
Just hire 10000 illegals for $5 an hour and have them fill out tickets.

>> No.11464444
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11464444

>>11463433
Imagine the logistics. Truckloads full of paper tickets, then picking the right one among all of them. Can't let a single ticket slip by (well statistically doesn't matter if you throw away a few)

>> No.11464462

>>11463506

And that would only be if they don't have to share the jackpot with multiple winners, which often happens.

>> No.11464474

So many fucking idiots ITT. You Americans are truly doomed. Your magnificent ancestors must be rolling over in their graves seeing what you've done to their country and what intellectual level you represent.

>> No.11464669

It’s been done before. Go looking for a story about some lottery syndicate in the states that bought every ticket. Prob about 10+ years ago.

>> No.11464706

>>11464474
You have no idea. I sometimes wonder the despair our founding fathers would feel if they were resurrected to witness the absolute state of america. They would be impressed about some things, but the rest...

>> No.11464847

>>11463433
that's literally illegal after some australian guy did just that in the 80s
>land of the free

>> No.11464866

>>11464847
correction, he was Romanian but later settled in Australia
https://thehustle.co/the-man-who-won-the-lottery-14-times
>His legacy lives on in US legislation: All 44 states that run lotteries have enacted laws preventing the profitable replication of Mandel’s strategy. In effect, this secures him a title as the first and last man to ever successfully game the lottery by buying every possible combination.