Powerball Is 200m How Much You Spending on Tickets? [Updated]

Trying2SaveABuck on 21/01/2024 - 20:45
Last edited 25/01/2024 - 23:19

We all know the lottery is essentially a tax on people who are bad at math (myself included) but almost 2/3rds of adult Australians had a ticket to the 100m last week (including myself)

So be honest how much you dropping on Thursday nights 150m

i only tend to play when the jackpot is over 50-60m which probably happens maybe 5-10 times a year between Oz Lotto and Powerball when i play i tend to drop around and i know im getting ripped off every time usually most of the $ i spend 'are people saying 'do you want to join our syndicate?'

so with SO many of the adult population buying a or multiple entries be honest what you dropping for a 'very very small chance' at extreme riches?

ill share a few stories from clients over the years on crazy lotto bets

  • one guy dropped 6k on tickets won $42 his wife 'almost' left him when she found out
  • i knew a girl whos relative had won 1st division 3 times (yes he is take lucky)
  • new a person who played for the 1st time ever at age 21 and won millions (disappeared oversea after that an is living his best life)
  • i know a new a guy who worked in a factory where guys working in pick pack won 1st division in the syndicate, all of them resigned bar one bloke who it turned out was on holiday and didnt put his $10 for the week in and missed out on the millions (got fair depressed for a while after that poor bloke)
  • i also know a bloke (not lotto) who won the Melbourne Home lottery but he was already rich so it wasnt all that interesting

25/01/2024 - updated

SO somewhat unbelievably no one took out the 1st div it is now 200m next Thursday [01/02/2024]…… i added change in votes in case you change how much your spending next week.

I think this is the largest jackpot Australia has ever seen domestically, im going to honest i have no idea what i'd do with 200m but i'll be playing if I win ill probably set a special 'charity' poll to donate some of that cash too, however it is beyond my ability to comprehend what i'd or anyone else would do with an instant 200m. Maybe ill consider upgrading my 9 year old Honda Civic i probably wouldnt care about expensive servicing and insurance cost on a European car, perhaps an EV [as im told they are better for the planet] .

Good luck

Poll Options

  • 345
    Zero i dont gamble at all
  • 47
    Zero i gamble on other things
  • 350
    <$20 (doesnt hurt much if i lose)
  • 220
    $20-69 a regular punt got to be in it to win it
  • 47
    $70-150 a decent size bet
  • 26
    $150-499 i might have a gambling problem
  • 38
    $500-999 I dont have a gambling problem im going to win it all back you will see!!
  • 2
    >$1000 YOLO its the biggest jackpot ever
  • 3
    No idea but i dont want to work anymore so im playing
Financial Lottery

Comments

  • Desertsyd on 22/01/2024 - 20:48

    I enter all the workplace groups.

    damn sure not going to be left holding the bag.

    • AustriaBargain on 22/01/2024 - 21:33
      +3

      For sure, that's the kind of thing you never get over. I'd let the organiser know I'm good for every syndicate game as long as I'm an employee, even if I'm in a coma they should play me and come to the hospital and ransack my wallet for the money.

    • ProlapsedHeinous on 23/01/2024 - 00:03
      +3

      My Dad used to be in a lotto group buy, many years out of the loop not buying tickets and they won and gave him 80k. I though that was pretty sweet and generous of them.

  • Bystander on 22/01/2024 - 21:06
    +10

    The tealady where I worked many years ago won first division in Lotto.
    She bought a house in Balmain and had enough money left over to get her hair permed.
    Then she continued to work as the tealady.

    • Trying2SaveABuck on 22/01/2024 - 21:08
      +1

      Good on her!

    • whyisave on 23/01/2024 - 02:00
      +1

      That's a nice story.

      It made me chuckle.

  • DazMon on 22/01/2024 - 21:58

    one guy dropped 6k on tickets won $42

    I find that really hard to believe!

    • Trying2SaveABuck on 22/01/2024 - 21:59
      +5

      Legitimately why would someobe lie about that…personally if it was me i would tell No one

      • cashless on 23/01/2024 - 08:43

        i would tell No one

        I think maybe you just did…..?

        • Trying2SaveABuck on 23/01/2024 - 10:44
          -2

          I think maybe you just did…..?

          I'll rephrase it, if it was 'me' i would tell me No one

  • Craze on 22/01/2024 - 22:07

    OP are you a financial advisor or something similar? Only guessing as you've heard stories from clients.

  • Alonzo on 22/01/2024 - 22:27

    MATHS

  • whyisave on 23/01/2024 - 02:09
    +2

    With everyone's chatter about winning odds,
    strategies about winning (or consecutive roulette wins), etc…

    …. I have not read if anyone has any theories about WHERE you purchase the entry from ?

    Does that have a bearing on winnings?

    I always used to hear stories of wins from little newsagents in Western Sydney.
    Then, I would hear the theory that "so many people in those socio-economic areas buy tickets,
    that there are bigger "odds" of a winner from all those entries".

    Also, do people have theories about whether 'auto picks' win more over time? etc. etc.

    • hasher22 on 23/01/2024 - 13:10
      +4

      Odds are the same no matter where you buy it.

      The winners you hear in the media are most likely newsworthy and that's why the story sticks to you.

      "Single mum of 5 wins lotto and purchased her ticket from a country town" is not as exciting as "some random purchased tickets online and won"

      Go to thelott and you can see where people got their tickets and it's all random places.

      Either way, usually large winning draws such as this 150m will make the news no matter what and it will be interesting to see where the winner purchased their tickets.

  • DickyTicker on 23/01/2024 - 08:35

    Some lottery draws require seven correct numbers, others need only six. You’ve got more chance getting six numbers right than seven. Bet on those draws.

    • whyisave on 23/01/2024 - 14:36

      Higher chance of winning less -vs- Lower chance of winning more

  • whitepuma on 23/01/2024 - 09:25

    $0, i prefer to put my gambling money into shares, The odds are MUCH better (but still never guaranteed)

  • Papa Huggies on 23/01/2024 - 10:43
    +8

    As a data science postgrad student…

    don't do it guys. the odds are worse than you can imagine. Getting a good Thai takeout is more likely to make you happy.

    • sauce2k on 23/01/2024 - 13:39

      cheers papa

    • whyisave on 24/01/2024 - 00:55
      +1

      That could be a good business idea for the restaurant.

      $20 = 1 Pad Thai & 1 Powerball line (auto-picked)

    • TightAssDude on 24/01/2024 - 21:38

      If no one won, no one would play.. Although the odds are terrible, the number of div one winners across all games is insane and crazy.

    • superuser on 26/01/2024 - 14:23

      True, the odds that we are exist and communicating right now even crazier. So just buy the lotto ticket for a chance to win, 😉

  • sertse on 23/01/2024 - 11:42
    +1

    The entertainment value for the chance of an unlikely dream for $8-15 is greater than other things I could have spent it for, like Maccas or a Salad. Therefore I'm coming out ahead by maximising my utility.

    • SlickMick on 23/01/2024 - 23:54

      Good for you that you can get enjoyment out of losing. I really hate that feeling, and all I can think of is the Maccas or salad I'm missing out on by making a poor decision.

  • zomgbargain on 23/01/2024 - 11:52
    +2

    We all know the lottery is essentially a tax on people who are bad at math

    Being the eternal cynic, I feel this way too and never play the lotto. And yet I have a close friend who is a retired secondary school maths teacher. So I guess some people are just optimists at heart, even when they DO know the odds ^_^

  • TheBilly on 23/01/2024 - 13:47

    We all know the lottery is essentially a tax on people who are bad at math (myself included) but almost 2/3rds of adult Australians had a ticket to the 100m last week (including myself)

    You have to be in it to win it.

    However the odds of winning are negligible, almost impossible.

    The increase in odds you experience from buying more tickets or better tickets is still negligible.

    So I would just buy like a 10 or 20 game ticket - minimum amount.

    • SlickMick on 23/01/2024 - 23:59

      I understand that some people will not listen to logic and stick with the "You have to be in it to win it". What I don't understand is people who understand probability and still gamble.

      You seem all over the place:

      • Must gamble or I can't win
      • I still won't win even if I do gamble
      • I'll just gamble a bit then
  • dufflover on 23/01/2024 - 14:56

    I once ruined a similar work watercooler conversation by pointing out that sometimes the smaller-but-still-sizeable-jackpots are better to play on because with so many more people playing, you're prize pool can potentially be split heaps more. lol ("Nnnnneeeeeeerrrrdd")

    Especially if you are open to a sizeable Div 2 win too for example.

  • Cluster on 23/01/2024 - 15:04

    Last week it was $100 million and no one won. Probably hundreds of millions of entries in the draw and no winner. That should give a little hint as to the chances of you, yes you, being the lucky winner this week.

    What would you do with $150M anyway? How many Ferraris and houses can you buy? Better hope not too many people find out about your win, or your life will be made hell by people (including strangers) constantly asking for money. You'll be a honeypot for scammers and other criminals.

  • Cluster on 23/01/2024 - 15:22

    "ill share a few stories from clients over the years on crazy lotto bets"

    "one guy dropped 6k on tickets won $42 his wife 'almost' left him when she found out"

    Sounds like the guy has a serious gambling problem, bordering on pathological. Hopefully the wife got him barred from all Australian lotteries for life.

  • Reggie74 on 23/01/2024 - 17:03
    +4

    I always find it amusing the winner has a random back story like "I was actually on my way to the chemist on the afternoon of the Powerball draw and the newsagency next door was just about to close. I happened to have some loose change in my pocket which I normally never do so I bought the cheapest possible ticket as a last minute thing. I wasn't even supposed to go to that chemist but my child happened to be sick so I left work early to look after them"

    • umoddbro on 23/01/2024 - 18:33
      +1

      Some of them are pretty absurd, like they'll say "I decided to go to Bunnings that day and as I was looking at cow manure something just struck me in the back of my head to go buy a ticket, so I dropped everything and raced down to the closest newsagent 15 minutes away 1 minute before closing and bought the winning ticket". But I'm always happy to hear clubs or workplaces syndicates win, instead of one person taking the whole lot.

    • localhost on 24/01/2024 - 15:57

      It's the same as: while looking for a hard drive, found this deal… :)

  • H3R34TH4C0MM3NTS on 23/01/2024 - 18:08
    +1

    At the End of the day I think (most of us) understand the mathematics, however what is more important is the psychology. If we were all rational human beings no one would ever go near lotteries however humans as a species are notorious for not behaving rationally. At the end of the day how much you decide to punt on this lottery depends on what you can afford to lose for Potentially (all but very unlikely) life altering and generational altering outcome. Even if you were to score 1/10th of the jackpot by hedging your bets on one of the many syndicates on offer is quite a significant result. now whether your line is $20 ,$200 , $2000, or $20000 that's for each individual to decide based on their values and circumstances. Good luck and happy punting…

    • Cluster on 23/01/2024 - 19:16
      +4

      The undisputable fact is all lottery players would be better off financially putting the money they use on lotteries into paying their bills or into a savings account.

      It's a negative expected value game, yet millions still play. It's completely illogical.

      • H3R34TH4C0MM3NTS on 24/01/2024 - 23:11
        -1

        Actually Its a Fact that NOT ALL would be financially better off because there are Winners (admittedly not that many)
        Yes playing is illogical and irrational, but the level of illogicality and irrationality is different depending on who you are .

        If your Jeff Bezzos who makes more money that these Jackpots in a year several times over, playing the lottery is going to be no value to you as you have already won the lottery of life and good circumstance.

        If you're a corporate slave earning 100K a year , a $100 punt on a on the lottery is your only chance to escape middle class mediocrity. Yeah you could "save" or "pay bills" with that $100 but losing it aint the end of the world for you.

        Now if your a single mother of 4 kids to 3 different fathers and on your last $100 for the week, probably best you skip the lottery and cover your basic needs first.

    • SlickMick on 24/01/2024 - 00:07

      Surely rational is good?

      Hold on, I'm good with hedging my bets to score 1/10th - that would be plenty. Please elaborate.

  • umoddbro on 23/01/2024 - 18:16
    +1

    $0 cause I always feel like crap afterwards when I don't win anything, even if its just $15 I think damn I could've bought lunch with that.

    • hasher22 on 23/01/2024 - 19:42

      I feel the same but gotta be in it to win it right? Lotto is more of a fun, emotional purchase rather than logical.

      • SlickMick on 24/01/2024 - 00:11

        I'm torn between judging you and envying you for being able to get fun out of losing money.

        Losing only makes me feel remorse and self-loathing - and that's just for not getting the best bargain on a purchase. I reckon I'd go into depression if I bought a lottery ticket.

        • hasher22 on 24/01/2024 - 00:20

          Well, I only spend $20 or less on syndicate powerhits. No huge loss, but I do think about that $20 going towards food etc but the idea of winning a share of the biggest jackpot is fun. Sure rational people don't enter lotto cause of the odds but nothing wrong spending (or wasting) money on something that may get you something.

          I mean, I've spent $20 on claw machines to try win a toy, same same.

          • SlickMick on 24/01/2024 - 00:21

            @hasher22: I agree, it is the same.

            And yeah, you're good. I can't do it, but clearly plenty do.

      • ssfps on 24/01/2024 - 04:25

        If you send me $20 i promise i might send you $40 back.

        Maybe i'm lying, maybe i'm not. You gotta be in it to win it, so why not try?

        • hasher22 on 24/01/2024 - 08:59

          Again, same same

          But we both know, no reasonable individual will get $40 back with a $20 investment to another individual unless you're a content creator for clout.

          At least lotto and claw machine you know you have a legit chance of winning.

  • Eeples on 23/01/2024 - 19:40

    When is it ?

    • ego22 on 23/01/2024 - 20:48
      +7

      The thursday powerball is every Friday

      • TightAssDude on 24/01/2024 - 21:41

        and first Saturday of the month.

  • Indie on 23/01/2024 - 19:46

    Powerhit entry for this one, about $26.

    Would normally spend about $10 when the jackpot is around $80m and up.

  • ego22 on 23/01/2024 - 20:47

    I know guy whos lived in a "poor" set
    Of townhouses next door to his best friend. His best friend won the 30mill lotto. Gave him 5k and said i don't want to see or hear from you anymore. And they moved..

    • hasher22 on 23/01/2024 - 23:02

      Best friend? Not best friends if they gave f-off money

  • caitsith01 on 23/01/2024 - 22:30
    +2

    There is absolutely no way 2/3rds of adult Australians bought a ticket.

    • whitepuma on 24/01/2024 - 17:50

      considering many people buy multiple tickets, it wouldn't surprise me if it averages out to 2/3rds of australian adults

      • caitsith01 on 24/01/2024 - 18:11

        Sure, but I'm confident it's more like 5-10% of adults buying heaps of tickets. I would be surprised if anyone I know bought a Powerball ticket.

        • whitepuma on 24/01/2024 - 21:11

          sure, but i can see how they landed on the statement of 2/3rds of adult Australians bought a ticket.

          The same way that the average number of children per family is currently at about 1.7 children per family….i am still yet to see a child missing 3/10 of their body.

  • sathion on 23/01/2024 - 23:31

    $149,999,999.99

  • whyisave on 24/01/2024 - 01:02

    Personal finance expert: How to spend $150m Powerball winnings
    - https://www.news.com.au/finance/money/wealth/personal-financ…

    Powerball: $150 million lotto win up for grabs in Thursday’s draw
    - https://www.news.com.au/finance/money/wealth/powerball-150-m…

    Thursday’s $150 million prize will be drawn at the Channel 7 studios in Mount Coot-Tha in Queensland,
    where lottery draw officials and government regulators, including the Office of Liquor and Gaming Regulation (OLGR),
    oversee the integrity and fairness of the draw process.

    • localhost on 24/01/2024 - 16:02

      Complete bullshit. Win $150m and put part of the money into… super :)

  • ssfps on 24/01/2024 - 04:22

    @Trying2SaveABuck

    but almost 2/3rds of adult Australians had a ticket to the 100m last week

    Source?

    Sounds like bullshit to me, but happy to be proven wrong.

    • pinchies on 24/01/2024 - 12:44
      +1

      I genuinely cannot remember the last time anyone spoke to me about actually gambling of any type, beyond a comment like "put it all on red".

      The poll numbers are blowing my mind a little!

  • whitepuma on 24/01/2024 - 09:56
    +3

    Powerball simulator
    for anyone that wants to play powerball without sinking your own money.

    • c64 on 24/01/2024 - 17:11
      +1

      woohoo! i spent $147k and won $47k. now i can buy a new car!

      • whitepuma on 24/01/2024 - 17:52

        I put $100k down, set it to 100 draws per second and just watch the mulla dwindle away

  • nobro25 on 24/01/2024 - 10:12
    +1

    Lottery is like for people who FOMO.

  • Lancerx on 24/01/2024 - 20:40

    If I setup a Powerpik13 ($46k ticket
    ) syndicate on ozb, wonder how much will buy here? ;)

    • Trying2SaveABuck on 24/01/2024 - 20:55

      Is that actually a thing? I mean 46k is insane!

      • Lancerx on 24/01/2024 - 21:15

        Yep, it is.. System game with 13 number, with guaranteed powerball.

        • Trying2SaveABuck on 24/01/2024 - 22:27

          that is pretty crazy if you ask me even if you did a syndicate with like 200 people its to expensive

          • Lancerx on 25/01/2024 - 03:07

            @Trying2SaveABuck: You cna go to max 500 people

            • whyisave on 25/01/2024 - 18:06

              @Lancerx: $46k / 500 people = $92 per person

              Assuming, the $150M is then split amongst 500,
              each person should be getting $300k each.

              The thing is, I read that it's not always the full amount that gets given out,
              eg. in this $150M Powerball, it won't be the full $150M.

              I read it's something less,
              or they offer the winner to take $3M for next 50 years.

              Maybe this is for USA, but I'm not sure where I read this.

    • jackking on 25/01/2024 - 09:07

      I am open to the idea

  • Thinkswithelbow on 25/01/2024 - 10:40

    Nothing. Lottery is a tax on the foolish.

  • Mistredo on 25/01/2024 - 13:43

    Of course, statistically, it does not make sense, but what if there is some supreme being that controls our fate?

  • DASHCAM NOW DUDE on 25/01/2024 - 18:14
    +1

    $10.80.

    Yes, the odds are insane but someone is going to win and it might as well be me.

    I don't see it as 1 in 134,000,000. I see it as 1 in 27,000,000. The population of Australia.

    • c64 on 25/01/2024 - 18:21

      i can't even win in competitions where the odds might be less than 1 in 100,000, let alone 1 in 134,000,000

      • DASHCAM NOW DUDE on 25/01/2024 - 18:23

        I've won 4 signifcant things in my life. No games of skill.

        • Breakfast with Santa lucky draw
        • PS1 steering wheel lucky draw
        • $400 lucky draw
  • whyisave on 25/01/2024 - 20:56

    So, which one of you OzB won tonight ?

    Draw # 1446
    Thursday 01 FEB 2024
    Powerball $4,000,000

    If you didn't win,
    then consider Powerball next week,
    PowerBall jackpot dodges winner AGAIN…

    • DontNeedThis on 25/01/2024 - 22:09
      +4

      I won. $12.

    • captainmac on 25/01/2024 - 23:51
      +1

      My powerhit game didn't get ANY numbers :( dang it

  • DASHCAM NOW DUDE on 25/01/2024 - 22:06
    +1

    $200,000,000.00.

  • 7hours 44min ago on 25/01/2024 - 22:10
    +13

    $200m. Huge.
    I'll be buying my usual $10.80 8 game ticket when it goes >$60m.
    If I win, I'll give everyone who votes on this comment $10k.

    • sss333 on 25/01/2024 - 22:18

      💰

    • John Kimble on 26/01/2024 - 09:44

      😂

    • mapax on 26/01/2024 - 09:46
      +1

      OzBargainers are so risk adverse to lotteries they’re not sure if they should vote on this…

  • DontNeedThis on 25/01/2024 - 23:11

    The fact that out of the tens of millions of sold tickets no one won the powerball should be a pretty good representation of the your chances of winning it. I'm never buying more than $5 worth, and I'll only do it when it's over $100m, just for the dream factor.

    • Cluster on 25/01/2024 - 23:13
      +1

      I can't win a raffle when there's a 1 in 50 chance of winning. I don't like my chances when it's 1 in 146 million.

    • Trying2SaveABuck on 25/01/2024 - 23:16

      Probably 'fair enough' and a common 'sense' approach

      im shocked it did not go off tonight that is all i can say i reckon there would of been 90 percent combinations throughout all the punters take statistically to land on a set of numbers NO ONE had is amazing

  • Cluster on 25/01/2024 - 23:13

    So nobody won, despite millions of Australians blowing, I mean, playing the lottery this week.

    Good luck next week!

    • Trying2SaveABuck on 25/01/2024 - 23:18

      the lotto office won they get a commision from every ticket regardless of jackpot

      there will be a lot of people playing for next 200m is the biggest jackpot of all time - i am still shocked no one won

      • localhost on 26/01/2024 - 01:46
        +3

        Actually before, when the jackpot was $50m saw a big queue in the nextra, waiting to buy tickets. Not today. Bought mini game for $10.80, won $44. We were 4 people in the store.
        Will repeat next week :)

    • whyisave on 26/01/2024 - 00:42

      despite millions of Australians blowing

      Cost of gambling living crisis !

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