Well, I Didn't Win The Powerball Last Night...

[oldr_n_wsr]

My daughters friend won $100 on that drawing. I think she matched four numbers. And someong on Long Island wan $1million in the drawing. Ticket was purchased in Smithtown (about 10 miles from my house). Don't think it was claimed yet.

ETA
My wifes ticket had one number match.

[Bicycle Bill]

Bicycle Bill ,How come your permutations dont match the odds given ? Is there a different way to calculate odds?

There is.  What I have calculated is a combination of an incomplete factorial (69 x 68 x 67 x 66 x 65), the product of which was then multiplied by 26.  This gives us merely the number of total possible combinations of tickets given the number fields we're working with.  Odds are a numeric calculation of the possibility of picking those correct numbers — and *ONLY* those correct numbers — but must also take into consideration the possibility of other prizes.  For example:

Looking at just the pool of red balls, you have one chance in 26 that your number will match the red ball — and you will win a prize for that.  And according to the ticket, the odds of doing this are 1:39.

"But hold it, Bill" — I hear you say.  "There are only 26 balls to start with so I should have a one out of 26 chance of picking the correct one.  How can the odds possibly be higher than the total number of balls in the pool?"

Remember, you don't stop at just drawing the red number.  You also pick five other (white) numbers out of a pool of 69 (white) balls ... and even getting just *ONE* or *TWO* (and the red Powerball) correct gives you a different prize; you *DON'T* stack the prizes.  So in this case the odds are not only taking into account the potential for drawing the one specific red ball; it is also taking in consideration the possibility of you also having one or more correct white balls.

Or to put it another way — it's the calculation of how lucky you had to be on the one hand to have selected the correct red ball while at the same time combining that with the calculation of how *UNLUCKY* you had to have been to have not picked at least one of the white balls correctly.

-"BB"-

[Guinevere]

How does someone blow through £10 million in 8 years? I couldn't even imagine what I could spend that much money on.

One London penthouse. Or an aging estate, if you prefer the country life.

But if you mean how does one fritter that away on crap on a daily basis, I have no idea. Stupidity reigns.

[oldr_n_wsr]

How does someone blow through £10 million in 8 years? I couldn't even imagine what I could spend that much money on.

It's actually quite easy when you spend it on drugs, booze and prostitutes.

[rubato]

How does someone blow through £10 million in 8 years? I couldn't even imagine what I could spend that much money on.

I imagine he had a lot of help.


Yrs,
Rubato

[MG McAnick]

Several folks I know, including me, each put in $2. Hey, if you're supposed to win it, $2 will do it, right? We had a total of 25 lines. ONE LINE had power ball. That was it. No problem, we're all playing again on Wed night. If I can't get $2 worth of fun and enjoyment out of playing, then I'll quit. This discussion is one form of my enjoyment.

[dgs49]

I'm in an office pool that will be purchasing a couple hundred tickets. The Pool Coordinator says that winning would be much better than hitting the 50/50 at the bowling alley. I haven't done the math, but he's an engineer so I'll take is word for it.

RIDDLE ME THIS: Why is there ANY income tax on these winnings? The Gub'mint has already taken 50% of the revenue, before any money is paid out to the winners. Why is the Gub'mint entitled to any more than that? What did Gub'mint do to deserve it? WIll I get better roads, better postal service, more military protection, better service from the Patent & Copyright Office? NO!

And don't tell me, this is state government and that is Federal government; fuck it. It's all Gub'mint to me. Why is any governmental entity entitled to any percentage of these winnings?

Why should Gub'mint get a windfall because I happen to be lucky enough to hit the lottery? It is bullshit.

[Sue U]

RIDDLE ME THIS: Why is there ANY income tax on these winnings? The Gub'mint has already taken 50% of the revenue, before any money is paid out to the winners. Why is the Gub'mint entitled to any more than that? What did Gub'mint do to deserve it? WIll I get better roads, better postal service, more military protection, better service from the Patent & Copyright Office? NO!

And don't tell me, this is state government and that is Federal government; fuck it. It's all Gub'mint to me. Why is any governmental entity entitled to any percentage of these winnings?

Why should Gub'mint get a windfall because I happen to be lucky enough to hit the lottery? It is bullshit.

So in addition to Con Law and Torts, you also failed to take (or to comprehend) Federal Income Tax while in "law school"? I guess you just relied on social promotion.

[kmccune]

Thank you ,BB -

[Crackpot]

Why do government employees get their pay taxed since they are paid with earnings that were already taxed?

[rubato]

RIDDLE ME THIS: Why is there ANY income tax on these winnings? The Gub'mint has already taken 50% of the revenue, before any money is paid out to the winners. Why is the Gub'mint entitled to any more than that? What did Gub'mint do to deserve it? WIll I get better roads, better postal service, more military protection, better service from the Patent & Copyright Office? NO!

And don't tell me, this is state government and that is Federal government; fuck it. It's all Gub'mint to me. Why is any governmental entity entitled to any percentage of these winnings?

Why should Gub'mint get a windfall because I happen to be lucky enough to hit the lottery? It is bullshit.

So in addition to Con Law and Torts, you also failed to take (or to comprehend) Federal Income Tax while in "law school"? I guess you just relied on social promotion.

If I recall correctly California lottery winnings are exempt from California State income taxes for Ca. residents. The rationale being that it was counter-productive to reduce the incentive to buy tickets when the State got the revenue for schools. I don't see what the reason would be for the federal government to forgo taxes when the revenue goes to the state. But then I don't understand why they treat carried interest differently from income.


yrs,
rubato

[rubato]

"... better service from the Patent & Copyright Office? NO!

... " .

The patent office is run to raise revenue. Most of the income for fees &c is taken for the general fund not to pay to operate the patent office.


yrs,
rubato

[Big RR]

rubato--I believe this changed a number of years ago (actually under W) and no money is diverted; the money is left with the PTO to improves services (although I believe the USPTO pays rental on the government facilities and for utilities, etc. from its funds). However, this is on an annual basis and future budgets could begin to use the funds again.

[oldr_n_wsr]

when the State got the revenue for schools.

Does Ca use the money only for schools or does it go into the general fund? Here in NY they touted the lotto as going only to schools but it ended up in the general rather than being used for schools only.

[wesw]

I bought a ticket. just one ticket......

[rubato]

when the State got the revenue for schools.

Does Ca use the money only for schools or does it go into the general fund? Here in NY they touted the lotto as going only to schools but it ended up in the general rather than being used for schools only.

In Calif. it goes to schools.

yrs,
rubato

[rubato]

rubato--I believe this changed a number of years ago (actually under W) and no money is diverted; the money is left with the PTO to improves services (although I believe the USPTO pays rental on the government facilities and for utilities, etc. from its funds). However, this is on an annual basis and future budgets could begin to use the funds again.

Not true. The USPTO is run as a profit-generating entity which is why the lag times are so long between filing and a decision.

W. Made it worse, not better. They added maintenance fees which have to be paid every few years.


yrs,
rubato

[Big RR]

Actually maintenance fees in the US started in cases filed after 1980, well before W.

As for generating a profit, the USPTO does generate a profit based on fees received in excess of expenses, as it has for many years; for most years some of this profit was sent to the government for use in the general fund, but in 2011 this changed and the PTO was permitted to keep its overage. it still generates a profit, but since then no budgets have diverted those funds to the treasury--the PTO keeps them, ostensibly to invest in an improvement of service. the biggest problem is that this decision is made on a year to year basis and could change any time congress and the president want to take it.

Lag times are, indeed, long, but it is mainly due to high turnover among examiners and a spiraling number of filings that is not matched by an increase in the number of trained examiners.

[rubato]

Ok, so the question of the hour is HOW MANY winning tickets will there be? You have until 7pm local time to get your bets down.


Personally, I think there will be a minimum of 2 and I will guess 3 total.


yrs,
rubato

edited to change prediction

[rubato]

Actually maintenance fees in the US started in cases filed after 1980, well before W.

As for generating a profit, the USPTO does generate a profit based on fees received in excess of expenses, as it has for many years; for most years some of this profit was sent to the government for use in the general fund, but in 2011 this changed and the PTO was permitted to keep its overage. it still generates a profit, but since then no budgets have diverted those funds to the treasury--the PTO keeps them, ostensibly to invest in an improvement of service. the biggest problem is that this decision is made on a year to year basis and could change any time congress and the president want to take it.

Lag times are, indeed, long, but it is mainly due to high turnover among examiners and a spiraling number of filings that is not matched by an increase in the number of trained examiners.

Maintenance fees have gone up a lot in recent years prompting a lot of people to cut their portfolios. We went through a major reduction in 2005-2006 which I was part of.

And the profits now are sequestered and not avail. directly to the USPTO which is still the reason for long lag times, also they have started charging an additional fee for 'expedited' service.

yrs,
rubato