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

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

  • 347
    Zero i dont gamble at all
  • 49
    Zero i gamble on other things
  • 351
    <$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

Comments

  • I enter all the workplace groups.

    damn sure not going to be left holding the bag.

    • +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.

    • +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.

  • +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.

    • +1

      Good on her!

    • +1

      That's a nice story.

      It made me chuckle.

  • one guy dropped 6k on tickets won $42

    I find that really hard to believe!

    • +5

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

      • i would tell No one

        I think maybe you just did…..?

        • -2

          I think maybe you just did…..?

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

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

  • MATHS

  • +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.

    • +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.

  • 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.

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

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

  • +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.

    • cheers papa

    • +1

      That could be a good business idea for the restaurant.

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

    • 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.

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

  • +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.

    • 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.

  • +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 ^_^

  • 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.

    • 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
  • 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.

  • 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.

  • "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.

  • +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"

    • +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.

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

  • +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…

    • +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.

      • -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.

    • Surely rational is good?

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

  • +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.

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

      • 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.

        • 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.

          • @hasher22: I agree, it is the same.

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

      • 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?

        • 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.

  • When is it ?

    • +7

      The thursday powerball is every Friday

      • and first Saturday of the month.

  • Powerhit entry for this one, about $26.

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

  • 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..

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

  • +2

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

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

      • 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.

        • 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.

  • $149,999,999.99

  • 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.

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

  • @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.

    • +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!

  • +3

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

    • +1

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

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

  • +1

    Lottery is like for people who FOMO.

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

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

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

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

          • @Trying2SaveABuck: You cna go to max 500 people

            • @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.

              • @whyisave: Nope it's full amount, question is there more than one winner.

                • @Lancerx: Are you sure of this ?

                  • +1

                    @whyisave: You are thinking about a lotto that is not in Australia. Here you get the advertised amount in a lump sum.

                    • +1

                      @Mr BoMBAStiG: And tax free

                    • @Mr BoMBAStiG:

                      advertised amount in a lump sum.

                      advertised amount, eh?

                      lump sum, eh?

                      $200M, eh ?

                      @Lancerx … tax-free, eh ?

                      <chin stroking>

                      hmmm…

                  • +1

                    @whyisave: 100% sure.

    • I am open to the idea

  • Nothing. Lottery is a tax on the foolish.

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

  • +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.

    • 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

      • 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
  • 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…

    • +4

      I won. $12.

    • +1

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

  • +1

    $200,000,000.00.

  • +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.

    • 💰

    • 😂

    • +1

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

  • 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.

    • +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.

    • 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

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

    Good luck next week!

    • 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

      • +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 :)

    • despite millions of Australians blowing

      Cost of gambling living crisis !

Login or Join to leave a comment