Why I don’t play Powerball…

We have two multi-state lotteries here in North Carolina, Powerball and Mega Millions.

The odds of winning the jackpot with Powerball are 1 in 175,223,510 so let’s call it one in 175 million.

The odds of winning the jackpot on Mega Millions are 1 in 175,711,536 so let’s call it one in 176 million.

So it looks like Powerball is the better deal.

BUT…

Powerball tickets are $2 while Mega Millions tickets are one dollar.

The only reason Powerball tickets cost more is to make the payout grow faster when it rolls over and thus induce a ‘ticket buying frenzy’.  But so what, do I really need 600 million bucks (be nice but the answer is no) and do I need it to get to that level more quickly, no again. The reality is that for my two dollars I can reduce my odds to ONLY (ha ha) one in 88 million by buying two Mega Millions tickets vs buying one Powerball ticket.

Personally I’d rather spend my money improving my chance of winning (even slightly) vs helping someone else to claim a bigger jackpot.

Actually I rarely do Mega Millions either. We have a Cash 5 lottery here (in NC), pick 5 numbers. The odds of winning are one in 575,757 and I STILL can’t win anything.
Looks like I’ll be going in to work again tomorrow after all <sigh>….

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