#Powerball $1.9 billion. Powerball: your odds of winning are greater NOT playing. Per smartasset.com/taxes/the-econ…, the AVERAGE American man, woman, and child spend $230/year on the Lottery. But so many DO NOT play the lottery. So do players spend double? #Lottery #Money #Scam 1/
2/ "people with a household income of less than $10,000 a year who play the lottery spend $597 a year on tickets,” says the above article, citing the New York Times. What's the buy in to pay out $1.9 billion? 50% more than that?
3/ The real lump sum payout is far less than the advertised $1.9 billion. And you'll have to pay a fortune in taxes. Putting it another way, the ratio of pay in to pay out after taxes might be something like 3:1. That's 1/3 is also what the lottery tickets are worth on average.
4/ If you have more accurate numbers than my wild guesses, comments, corrections, etc., please reply! Thank you!
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