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Against
All Odds
by Michael Hofferber. Copyright © 1992. All rights reserved. Folks went a little berzerk in Florida last year when the state's lottery jackpot climbed to $94 million. One fellow, nicknamed "The Phantom," bought 80,000 tickets at a bar called Smitty's Place in Jacksonville and still didn't hold a winning ticket when numbers were drawn. Those who did win are collecting about $15 million paid out over the next 20 years. Lottery officials just love those big jackpots. The bigger the prize the more participants and the more dollars for state budgets, and yet the payoff to individual winners stays about the same. This is because the likelihood of multiple winners rises with each ticket sold and the prize money in the big pots usually gets split two, three or six ways, as was the case in Florida. Another tip I've heard is to pick "unusual" numbers that someone else is unlikely to select. That way, if you win you won't have to share the jackpot like those six unfortunate people in Florida. But which numbers are unusual? 1 through 6? 49 through 54? Oops! Not anymore....
The only way to be sure of winning a 49-number lottery like Florida's is to spend about $15 million buying all the possible number combinations. But then if five or six other people also draw winners you'll just barely break even. An international investment group apparently used this method to win a $27 million jackpot in Virginia's 44-number lottery earlier this year, buying at least 5 million out of 7 million possible number combinations. Luckily for them, they drew the only winner. For those of us without millions of dollars to risk, there's only one sure way of doubling our money: fold once and return to the wallet. |
Rural Delivery Commentaries and advice on rural living by Michael Hofferber Visit the Rural Delivery Blog ![]() The Farm Fresh Booklist Fresh Titles by Dubitable Authors ![]() The Mathematics of Lottery Odds, Combinations, Systems |
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