When I first heard about Powerball lottery, I thought winning the jackpot would completely rely on luck. Well, that’s until I learned about the interesting theory about this game. With 1 in 292,201,338 winning odds, do you know that even if you bought the whole ticket, you can still win a huge profit?
Yeah, I know how weird it sounds. Who would possibly want to spend $584 million to buy the whole ticket? Well, let me explain it first. With the lump-sum jackpot estimated at around $930 million, you still have $346 million in your pocket. Also, since you have purchased all the tickets, you will also win all the lower-tier prizes. That means around $200 million extra cash.
Now, if we compare to the $584 million you spent to buy the whole ticket, you can still have $638 million winning.
But, as good as it sounds, this theory has 2 fatal mistakes. The reasons are as follows.
You might have to share your ticket
Victor Matheson, a professor at the College of the Holy Cross who studies economics and accounting once studied the chance of winning a Powerball jackpot. He revealed that the best way to win the prize is by sharing the ticket with 1 other person. If you keep the ticket to yourself, you will only have 25% chance of winning. It is 8% lower than if you share the ticket with someone else (33%). However, if you keep sharing the ticket, you will only decrease your chance. Sharing it with 2 people will leave you with just 25$, 12% for 3 people, and 6% for 4 others.
The professor said all this data lead to 1 conclusive point. It only needs 1 winner to cut your profit.
What if there was no winner from the last drawing? Well, don’t let that fool you. This is unlikely happened. With at least 440 million tickets sold every year, there is 77% possibility that there is at least 1 winner from the last drawing.
It’s almost impossible to buy every ticket
It’s not because no one wants to spend $584 million on the tickets. There are always people who want to spend big in order to win big.
Here is the real reason. it will take too much time purchasing every single ticket. If we need 1 second to purchase a Powerball ticket, then it will take at least 13 years to purchase every combination.
Even if you have an army to do this job for you, it is highly unlikely you can purchase every single ticket before the time runs out. Since the ticket is not available for online sale, you should visit every ticket station across the country to purchase every ticket within 3 days.
It sounds crazy, right?
Well, actually back in February 1992, someone was crazy enough to prove this theory. An Australian consortium tried to purchase every Virginia Lotto ticket in order to win $24 million jackpot. However, even with a company as big as his, he could only purchase 2.4 million out of 7 million tickets sold that day.
Now, please tell me. If a corporation couldn’t do it, how can us?
There is one thing I love about poker so much. Unlike many lottery games, this one allows me, as well as everyone, to hone our skills. It is not just a game that relies on luck, but also our skills. There will be always new challenges here in this game, no matter how many experiences you have under your hand.
Once you enjoyed this game, you can’t stop loving it and all the challenges it brings. However, you might find some difficulties when you started playing it for the first time. I once felt the same thing and for this very reason, I want to show you how to encounter this problem.
As I’ve told you before, there are plenty of room to improve your skills in this game. In this article, I’ll show you some of these best places. Remember them and someday you’ll become a great poker player.
Social Poker Networks
Online poker suddenly became our culture darling when Chris Moneymaker won a huge prize back in 2003. Since then, many social poker platforms popped out of nowhere. Two of them, WSOP and Zynga Poker, still remain today as two of the best poker platforms you can play. Today, you can play them for free on Facebook.
Of course, since real poker involves real money, playing at these free platform will not do much to hone your skills. Besides, you will less likely find someone who is particularly good. The only good news is there are thousands or even more players you can find here. All of them have their own playing style. You can use this chance to learn how people play and build their strategies.
Social networks are a good place if this is your first time playing poker. However, let’s remember not to spend most of your time there. That is if you really want to gain experience and win some real prize from poker. The problem is, social networks won’t help you much in terms of building your poker strategy.
However, we do realize some challenges when you switch from free social poker networks to real online rooms. You want to win some prize, but hate losing your money, right? In this case, you should not worry. Some online rooms offer freeroll tournaments. These tournaments allow you to enter for free, yet it grants real money prize if you win. This is your ideal place to step into a higher level in poker.
There are at least 2 benefits you will get from these tournaments. First, it allows you to taste the real poker and even get real money prize, without spending anything except your time. Second, they are better than free social networks. There are real people who are looking for the prize, just like you. In order to win, you need to beat these guys and their mysterious strategies. Care to find out who will win?
Trusted Poker Sites
One place I can recommend to you is PokerStars. This is, until today, the biggest online poker room we have. Most poker players, including those you frequently see on TV, go to this place to play poker. This is the first natural habitat of poker players should you ask me the question.
This place offers various game levels, spread into cash games and tournaments. You can use this chance to learn to play with your real money. You can begin with $10 or $20 while learning how the system works and people play before joining another game.
In most cases, your skills will be greatly improved after several times playing on this platform. This is because you have to face real challenges on this place. Another reason is you will less likely find players who play because they are curious. There are a lot of pros here and they won’t hesitate to beat you anytime, anywhere.
Once you have learnt enough, try entering some tournaments. You can pick the one most suited to you. Let’s keep your eyes from the prize for this moment. Playing in a tournament is on a completely different level than everything you’ve had before. So, it would be best if you use this chance to learn everything, from the strategies to playing pattern. Learn well and eventually you can become the winner there.
The 2010 PokerStars Caribbean Adventure drew a record 1,529 players to generate a $14.8 million prize pool – the seventh biggest in poker history.
Plus, there was some poker news that happened outside of the Bahamas and we’re breaking it down for you below in our ongoing Poker News in Brief feature.
This week we’ll look at a new poker film coming to DVD, Pennsylvania legalizing live poker and table games, Belgium moving to nationalize online poker and Bodog making a big brag.
Legal Poker for Pennsylvania Pennsylvania legalized poker, blackjack and other table games at Casinos this week in an attempt to generate extra revenue for the State.
Previously, casinos in Pennsylvania had been restricted to slot machines only.
It will be six months before games start being dealt in Pennsylvania, but the State stands to make millions in licensing
Several neighboring states are taking notice and Indiana is considering allowing riverboat gambling in Lake Michigan and the Ohio River. Back in November, Ohio voters passed a law that will see four casinos constructed in four cities.
The Pennsylvania law change could have a potentially negative effect on neighboring Atlantic City if Pennsylvania residents opt to gamble closer to home.
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