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How to make $1 million and invest nothing?
Whats wrong with this logic?
The odds of winning the California Supper Lotto is 18 million to 1
If one person purchased all 18 million possible combinations
they would be guaranteed to win.
Assume the jackpot is worth 100 million.
What if I went to the lottery officials and made this proposal…
If I spend 18 million $ and buy every unique number I can win your
jackpot. But rather than go through all that trouble, why don't I just
give you the 18 million and you give me the jackpot?
Or to make it even better for you, give me just 1/5 of the jackpot, or
20 million. That would make it fair for any other winners - the possibility of which
is slim.
Or yet, why bother with the tedious transactions. Just pretend I gave you the
18 million and just give me the difference - 2 million.
In fact, if you just give me a million dollars I'll get out of your
hair completely.
What you you rather loose? 100 million or just 1 million?
1 Answer
- MigualamLv 47 years ago
The size of the jackpot depends on how much money is made on selling the tickets, say 50% of the profit.
So if you bought all 18 million tickets for 18 million dollars (and were the only one to buy a ticket), the jackpot would be 9 million.
If the jackpot reached 100 millions dollars this would mean that 200 million tickets were sold. Since the odds of winning are 1 in 18 million, this would mean that there would be on average 11 people (including you) with a winning ticket. So the 100 millions dollars would be split among those 11 people giving you only 9 million dollars.
