# Matthew Miner's Website

## Lottery ROI Calculator

Some things to note off the bat:

With that out of the way, let's get down to the math.

### Powerball

Currently the next Powerball Jackpot amount is \$185,000,000. Taking the lump sum, you would get \$92,100,000, less the \$34,039,000 of federal taxes.

With 11,000,000 players…

…playing for the remaining \$58,061,000…

…you would have an average ROI of 39% (including lesser prizes).

If only one person won, you would have an ROI of 39%. However this must be reduced because you would have a 4% chance of sharing the jackpot with another winner.

### Mega Millions

Currently the next Mega Millions Jackpot amount is \$398,000,000. Taking the lump sum, you would get \$197,900,000, less the \$73,185,000 of federal taxes.

With 24,000,000 players…

…playing for the remaining \$124,715,000…

…you would have an average ROI of 41% (including lesser prizes).

If only one person won, you would have an ROI of 43%. However this must be reduced because you would have a 8% chance of sharing the jackpot with another winner.

### Illinois Lotto

Illinois makes it very difficult to access data about its lottery and much of the specifics are not clearly disclosed. As best as I can figure though, the ROI goes from about 50% at the lowest jackpot of \$2,000,000 up to about 71% at the highest jackpots of \$20,000,000. Extra Shot seems to improve these ROIs by about another 20%.

The Illinois Lotto is essentially always a loss. Its floor is higher than national lotteries, but it wouldn't attain a ROI over 1.0 until roughly \$45,000,000, which is almost three times as high as the jackpot has ever gotten.