1 Lottery Winnings

Retirement Plan
Matthew Birkebak
Marisela Valadez Alatorre

Odds of winning the lottery •

Chances of winning the lottery.

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Odds for both the Mega Millions and Powerball.

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Percentage of new friends after winning the lottery. •

Odds of losing the money awarded from a lottery win.

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Second chance drawings.

Mega Millions
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Odds of winning:1 in 259 million on the jackpot

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

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

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Expected value: $1.54
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1/259M($656M)-(258/259)$1

Powerball
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Odds of winning: 1 in 175,223,510

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

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Minimum 40 million dollars jackpot entices more sales.

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More likely to get murdered than win the Powerball

Expected Values
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Mega Millions

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Expected value: $1.54
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1/259M($656M)-(258/259)$1

Megamillions vs Powerball
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Cheaper to enter at only $1 vs $2 or
Powerball

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Odds of winning Megamillions is higher

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Powerball has larger jackpots more often 

A jackpot win with either guarantees retirement Friend Increase
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People come out of the woodwork claiming lifetime friendship.

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300% increase of people that know you.

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Lottery Winners Call It a “Curse.”

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New “Investment opportunities”

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

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

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

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States most likely to win….

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

More than 1,900 winners went bankrupt within