Is this a guaranteed lottery formula?

Question

I was just reading an article on Yahoo about a couple who believe they have come up with a formula for winning the lottery. Someone in the article said that there is no formula for winning the lottery unless you buy every ticket. Would it be possible to buy a ticket for every possible number combination and still come out ahead?

For example, the big lottery here in California is Mega Millions. Let's say that the jackpot is at $300 million. There are close to 176 million possible number combinations that can be played. You spend $176 million on tickets, take about 30% taxes out of the winnings ($90 million), subtract your initial cost of $176 million, you are still left with $34 million. (The problem would be coming up with that much money initially and filling out 176 million different tickets!)

Answer 1

The biggest problem with buying every ticket is that you're still not guaranteed to win $300 million.  If someone else gets lucky, then there are two winners and you're splitting the jackpot.

Also, that $300 million is paid out over 20 years.  Would you trade $176 million today for $15 million per year for the next 20 years?

Answer 2

In theory, it's possible.

But notice that lotteries continue to be held for a reason: because the state *profits* from them.

Answer 3

If you have $176,000,000, why don't you start your own a lottery?

Answer 4

If you have $176 million, don't you have something better to do than play the lottery ?  Like make *sensible* investments ?

Needless to say, it would be impossible to fill out paper tickets

for all those combinations.  The only way would be to go to

the lottery headquarters with a big check and say "I want every combination", but they probably don't do that.

Next point would be that you might be splitting the pot with someone.

But assuming you overcome all that:

There are two ways winnings are paid out:

Annuity (1/20 of jackpot every year for 20 years, say)

Lump sum (smaller amount, usually about half the jackpot all at once)

In that case, you might be spending $176 million for a $150 million prize.

The people mentioned in the article do NOT have a formula.

They just got lucky.

Given how many people play the lottery, and I wish I had

a reference for this, it is actually likely that every so often

a repeat winner will occur.  There are just so many ways

to have random winners with each one being different.

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