100% for $1 million or 50/50 for $25 million

[i-VTEC]

Originally Posted by bloodmack

spend it on more then 1 game..

you don`t buy lottery game, you buy lottery tickets

since now you said, don`t use all of 1M to buy tickets only some then you have even less chance of winning.

all in all, its a dumb move to even think about investing money on buying lottery tickets to hope for chances of winning than then taking 50% chance of having 25M

[November]

Reading through page 1 had me like

Some of you guys need to re-do elementary school math.

[Nightwalker]

1 million would change my life entirely.

I wouldn't have to think hard about taking it.

[Ronin]

Friend brought up a good point on Twitter. For those of you that play poker, a 50% chance if you bet $1m to win $25m is a good bet. E.g. if the pot is $24m and you have a guaranteed 50% chance to win and it's $1m to call, that's a call pretty much any poker player would make.

[sundance1911]

Mathmatically you should go for 50/50 $25 mil..the expected value is $12.5Mil, much higher than $1Mil.

[tonyvu]

50% chance is a big gamble..

i'd go for the 1mill for sure

[goo3]

Originally Posted by Ronin

Friend brought up a good point on Twitter. For those of you that play poker, a 50% chance if you bet $1m to win $25m is a good bet. E.g. if the pot is $24m and you have a guaranteed 50% chance to win and it's $1m to call, that's a call pretty much any poker player would make.

The big difference in poker is you're playing many hands. Over time, you are making the smart bet.

But when you're playing the hand once, you're expected value is either 0 or 25 because 12.5 is not an option that exists.

The better question is what can you do with $1M. I think most ppl can retire in a few years with that money if they learn financial management or give it to a good money manager, but a lot won't think that way. They'll be thinking about buying a house, then car, then vacation, and they'll be left with 200K, so that's why they'll be going for the 25M.

[top_dyl]

Originally Posted by murmur

for people like me that don't want to take risk:

take 1 million
open a savings bank account that offers 1.2% annual rate
annual interest = $12,000
monthly interest = $1,000

combined with full-time job, or part-time job and studying. it would be nice.

(of course, there are banks that offer 1.4% savings account, such as canadian western. there are also better ways to enjoy the one million too, such as stocks/gic/bonds etc).

most millionaires don't put money in a savings account, do they?

[Vege]

I would just take the guaranteed 1 million. Most things aren't guaranteed in life and if you're financially smart, you will make that 1 million grow exponentially.