1 Lottery Winnings

Topics: Mega Millions, Powerball, Lottery Pages: 13 (475 words) Published: August 4, 2015
Retirement Plan
Matthew Birkebak
Marisela Valadez Alatorre

Odds of winning the

Chances of winning the lottery.

Odds for both the Mega Millions and Powerball.

Percentage of new friends after winning the

Odds of losing the money awarded from a
lottery win.

Second chance drawings.

Mega Millions

Odds of winning:1 in 259 million
on the jackpot

$656M, Mega Millions, March
30, 2012 is the largest jackpot
with 75 million tickets sold for

Odds of getting struck by
lightning is 1 in 700,000

Expected value: $1.54



Odds of winning: 1 in 175,223,510

 $590.5M Powerball May 18, 2013 largest ever with
ticket sales of 72 million.

Minimum 40 million dollars jackpot entices more sales.

More likely to get murdered than win the Powerball

Expected Values

Mega Millions

Expected value: $1.54


Megamillions vs Powerball

Cheaper to enter at only $1 vs $2 or

Odds of winning Megamillions is higher

Powerball has larger jackpots more

A jackpot win with either guarantees

Friend Increase

People come out of the woodwork claiming
lifetime friendship.

300% increase of people that know you.

Lottery Winners Call It a “Curse.”

New “Investment opportunities”

Why people play

The ultimate fantasy: Walk into a store, plunk down a
dollar, and with nothing but luck — really
extraordinary luck — you win a giant lottery. 

 A desire to improve your life in a way that's driven by
fantasy.... The bigger the fantasy, the tastier it gets.

 Hope that a better day will come, that some big thing
will happen that will make everything right, set the
course on track. 

States most likely to win….

Losing your winnings

William "Bud" Post squandered his 1988 Pennsylvania prize
of more than $16 million on houses, vehicles and bad

More than 1,900 winners went bankrupt within five years.

 They tend to have limited financial literacy (even compared with a general population that has been shown to sorely lack it). 

Develop a taste for luxury goods that outlasts their money,“

1% of Florida lottery players (winners and losers) go
bankrupt in any given year, about double the rate for the
broader population 


Second Chance Drawing

Higher Chance of winning

Winnings are smaller but still drastically higher
than the cost of a ticket

Wisconsin residents only

Odds of winning is depends on entrants, usually
around 1 in 10,000



3 Reasons to Play the Mega Millions Lottery. (n.d.). Retrieved from http://www.winmoney.cm/reasons-to-play-the-mega-millions-lottery

Powerball - Home. (n.d.). Retrieved from http://

Mega Millions. (n.d.). Retrieved from http://www.megamillions.com/

second chance lottery odds - Google Search. (n.d.). Retrieved from https://www.google.com/search?

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