
What Would You do if You WON?
By brownfrank+75 Mega millions charging 5$ a ticket is probably one of the greatest examples of terrible investments a poor person could make!
Basic math:
If I were to invest 5$ into a mega millions ticket every week for 52 weeks a year that would come to 260$ per year for a period of 10 years that would come up too 2,600$. 2600$ would be enough to purchase a used car, a payment for rent, or a two brand new iPhone 16s.
Now I invest 5$ every week for 52 weeks a year into a CD 12 month accumulator with 4% APY and I do this every year for 10 years averaging total interest earned the final amount from 2,600$ will be somewhere in between 3,500$ and 4,500$ depending on the APY each year and the total accumulation.
Now the odds of winning the grand prize on Mega Millions is 1 in 302 million and 5 ball prize (1 million dollars) 1 in 12 million. Now anyone familiar with odds knows that each week cycle of tickets will all be 1 in 302 million or 1 in 12 million because it’s a brand new cycle or winners jackpot. If you were to invest the tickets from 52 weeks to 1 week and put 2,600$ in 1 cycle your odds would increase to about 1 in.. you guessed it… slightly less than 302 million.
I have seen the poorest people pour HUNDREDS of dollars into the mega millions. What a waste of your hard work. You are pouring money into something that is such a waste of your time and money. You are NOT going to win the grand prize of mega millions. YES somebody has to win. But YOU are not going to be that person. Do not put your faith into something that has such low odds. You as a human being are worth FAR MORE than 1 in 302 million.
Recent responses
+55 @yosark Well yeah, don’t you realize poor people buy this as their 1 hopeful opportunity to not be poor anymore?
+47 @Pernicious-Peach Yeah, unless the prize is $1 billion or up, I'm not dropping five on a single ticket. If I wanted to play $5 with terrible odds, I'd rather get a scratch off
+22 @CherryPeppersnOnions People play because of hope. Regardless of financial circumstances. The fact that there is a possibility of winning such a lump sum of money is beneficial for your wellbeing on so many levels. Whether it may be. Many like myself have made poor financial choices, and struggled - potentially still are with budgeting. Nonetheless, it’s their own money - let them spend it as they should. With that being said, I believe it was a smart marketing plan or pivot by the Mega Millions team to go from a $2.00, to $5.00. You give the consumer another option or idea to hone in on with the Mega Player increase.
+21 @SBRH33 $50 scratch off enters the chat.
+18 @TXfire22 MM is a no go for me with that price
+12 @og_ricc Gambling is an addiction — and people who play religiously will continue to play no matter what. I've seen people buy $40 and $50 scratchers, so what's a $5 ticket to them? The casual player who buys a lottery ticket once in a blue moon won't buy Mega Millions anymore, but the hardcore players will continue to do so.