Euromillions rollover odds question

We were chatting over lunch about these rare occasions when you end up with a £90m jackpot because it's rolled over half a dozen times or so. Assume for the sake of argument that the ticket cost is still £1.50 and there's no Mickey Mouse raffle.

The odds are something like 1 in 76 million?

So, hypothetically, why did no-one ever borrow £114 million and buy every single combination of numbers?

They'd have nabbed not only the jackpot but millions of other prizes as well?

I assume it isn't that simple?

Reply to
Rasta Pickles
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The UK lottery has a rollover limit because of this, doesn't the Euro one?

Also what if someone else wins as well, presumably the prize is shared? You might only get 45 or 30 million if 1 or 2 others win.

Reply to
Andy Pandy

If you buy them online, there's a limit to the maximum you can buy on a single account. If you buy them in paper over the counter, it would be physically impossible to buy enough in the time available to you. So the only way it can be done is if you have a huge number of people all buying them for you. Either way, it's close enough to be impossible for it not to be worth trying.

The other problem, of course, is that while you can guarantee getting the right combination of numbers, you can't guarantee that nobody else will. And if you end up sharing the jackpot then, overall, you would have lost millions.

Mark

Reply to
Mark Goodge

You want to spend £114million to win £90million?

Reply to
Stephen2

Wasn't this done by a syndicate in the USA(?) a few years back. They set up to buy all the tickets from all the outlets and they printed all their own tickets to ensure that all combinations were actually accounted for (I don't remember how this was permitted). Then they ended up s***ing bricks because one or two of the outlets had sold some tickets and if they produced a winning number the whole exercise would have run at a loss.

Reply to
AnthonyL

Perhaps he's a politician.

Reply to
Nick

An Irish politician.

Reply to
Charlie

It was tried in Ireland:

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Mark

Reply to
Mark Goodge

It was a genuine question?

If I was a politician I'd just raise taxes on fuel and laugh at the sweaty masses who cheerfully give me 80-odd pence for every litre they buy without me having to lift a finger.

And then I'd probably raise VAT to 20% and laugh at the sweaty masses who cheerfully give me 20% without me having to lift a finger.

Life's great in Government, dontcha reckon?

Reply to
Rasta Pickles

Much better than putting the odd penny on Income tax.

Any idea what the increased VAT revenue would require as an addition to basic rate tax?

Reply to
Gordon H

I realised that and didn't intend to offend you. The attempt at humour was directed at politicians. From the rest of your post I assume you're not related to Eric?

Reply to
Nick

Thanks for this. It's not quite how I remembered it - for some reason I have an american state lottery in mind but then the mind is good at playing tricks.

Reply to
AnthonyL

Less likely in the USA where one only wins around 1/4 of the headline jackpot prize. The quoted jackpots are the sum totals of payments paid out over 20 year annuities, and those payments are subject to both federal and (in any) state and local income taxes. Like in Las Vegas, where casinos added a double zero to roulette wheels, USA gambling odds are usually far longer than in the rest of the world.

Tony

Reply to
Anthony R. Gold

Well if I've contributed £76million to the Euromillions pot I'd suspect the jackpot (and all other prizes) would be proportionately higher?

Reply to
Rasta Pickles

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