Chris Singleton, the Washington Wizards Rookie, is Going to Spend $10,000 on Mega Millions Lottery Tickets

All, NBA Jason McIntyre March 30th. 2012, 9:47am

Chris Singleton, a rookie forward on the Washington Wizards, tweeted he plans to spend $10,000 on lottery tickets in hopes of winning the gigantic $540 million pot. It’s unclear if he plans on dropping the $10k in one place buying the tickets, or if he plans on driving all around the DC area dropping cash.

Chris Singleton’s 2012 salary, if you’re curious: $1,485,000.
He’s slated to make $1,596,360 in 2013.

Other fun lottery nuggets, courtesy of the AP:

“You are about 50 times as likely to get struck by lightning as to win the lottery, based on the 90 people a year getting struck by lightning,” Catalano said. “Of course, if you buy 50 tickets, you’ve equalized your chances of winning the jackpot with getting struck by lightning.”
Based on other U.S. averages, you’re about 8,000 times more likely to be murdered than to win the lottery, and about 20,000 times more likely to die in a car crash than hit the lucky numbers
A $540 million jackpot, if taken as a $390 million lump sum and after federal tax withholding, works out to about $293 million. With the jackpot odds at 1 in 176 million, it would cost $176 million to buy up every combination.

I dumped $15 into the stupid fund for the last drawing, and I’ll probably donate another $15 today.

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39 Responses to “Chris Singleton, the Washington Wizards Rookie, is Going to Spend $10,000 on Mega Millions Lottery Tickets”

1
FredSanford Says:
March 30th, 2012 at 9:54 AM
Wow, it would totally be a prick move but some rich asshole could buy all the combinations and potentially make a $120 million profit. Of course if someone else hits, they would lose $30 million.
2
cracker jack Says:
March 30th, 2012 at 9:56 AM
I’m probably an asshole, but it always pisses me off when an old person wins the lottery. Would piss me off even more if an already wealthy person won.
3
SouvenirCity Says:
March 30th, 2012 at 9:57 AM
I spent $8 on individual tickets for myself and my office pooled together $735 between the 96 of us here. I gave another $10 to the office fund.
4
Tim Thomas's Bagels Says:
March 30th, 2012 at 10:01 AM
Well, I can’t figure out just two! So let’s pretend you bought 200! Now, if you bought 200 lottery tickets, apart from being dreadfully optimistic, you would have used up 20% of the 1000 tickets, which is 15% half over again, 10%…
5
got_em_looking Says:
March 30th, 2012 at 10:01 AM
Its been done before in the early 90s a group of guys in Australia found a lottery in Virginia (or Ohio I think) that offered this opportunity where cost of buying all combinations was significantly less than the expected payout. They ended up buying 75% of the combinations and ended up winning a substantial amount… However the logistics of buying the tickets was a major pain as you physically have to be there to purchase a lottery ticket.
I read this in a book called “Drunkard’s Walk” but I can’t find a good link.
6
knitty Says:
March 30th, 2012 at 10:01 AM
Would piss me off even more if an already wealthy person won.
The Marriott President’s son won $100MM a few months ago in the Mega Millions… lucky douche.
7
FredSanford Says:
March 30th, 2012 at 10:03 AM
I’m probably an asshole, but it always pisses me off when an old person wins the lottery. Would piss me off even more if an already wealthy person won.
No, no you are not. And the money will get further taxed when it gets passed on as an inheritance. If they don’t let their heirs collect, then they are old assholes.
8
cracker jack Says:
March 30th, 2012 at 10:03 AM
Well, I can’t figure out just two! So let’s pretend you bought 200! Now, if you bought 200 lottery tickets, apart from being dreadfully optimistic, you would have used up 20% of the 1000 tickets, which is 15% half over again, 10%…
Charlie and the Chocolate Factory!
9
Nolan Says:
March 30th, 2012 at 10:04 AM
He would be better off dropping that $10k in Greek bonds and Detroit real estate.
10
HawkEye Says:
March 30th, 2012 at 10:05 AM
Have to make sure I remember to buy tickets tonight
11
Coach Mike Woodson, Atlanta Hawks Says:
March 30th, 2012 at 10:06 AM
I spent $8 on individual tickets for myself and my office pooled together $735 between the 96 of us here. I gave another $10 to the office fund.
I understand that more tickets equals more chances of winning, but if you do $10 every drawing (most of these pools are for every drawing, I’m guessing), that shit adds up.
Why not just chip in 1 or 2 pennies per drawing and buy one group ticket?
/cheap bastard
12
scripty Says:
March 30th, 2012 at 10:06 AM
I once hit 4 #’s on the lotto, missed the other 2 numbers by 4 digits total. Won like $200.
13
FredSanford Says:
March 30th, 2012 at 10:07 AM
It seems the PowerBall has f’d themselves by going to $2/ticket.
14
scripty Says:
March 30th, 2012 at 10:10 AM
Old lotto story from my ex boss. He and buddy were in FL for vacation. My boss came back from a gas station with a few items, including a lotto ticket. The friend says he never played lotto. Boss says, never? It’s a $30 mill lotto (back when that was huge). Friend goes in, buys ticket, comes out. He’d picked the #’s, like 3,4,6,7,10, 13. All low #’s all bunched together. Boss says you’re an idiot, those’ll never hit, have the machine pick your #’s. Friend goes in, gets a ticket that way. That ticket hit and boss’s friend won the whole lotto.
15
SouvenirCity Says:
March 30th, 2012 at 10:10 AM
It’s $18, Nick. I figure that $18 is $18 less I’ll spend going out this weekend. We’re not going to win, but it’s fun to dream.
I’d bet that the “If I won the lottery…” conversation has been the most talked about thing at the water cooler or among friends this week. Mega Millions has been all over TV and other mediums. We’ve all thought about what we’d do if we won that money.
/pay off student loans
//pay off my folks’ house
///pay off my sister’s loans
////buyout Alfonso Soriano
16
spencer096 Says:
March 30th, 2012 at 10:13 AM
this gentleman could use some sound financial advice.
17
ButtersBC Says:
March 30th, 2012 at 10:15 AM
////buyout Alfonso Soriano
You’d have to take the lump sum payment in order to accomplish that I fear
18
spencer096 Says:
March 30th, 2012 at 10:15 AM
We’ve all thought about what we’d do if we won that money.
i have like five or six distinctly different plans for it…most recent one is starting my own PAC and running for president.
19
webercantcoach Says:
March 30th, 2012 at 10:16 AM
i would love if i won it…. hahahhahahahhahahahaha suck it haters is what i would say
20
SouvenirCity Says:
March 30th, 2012 at 10:16 AM
You’d have to take the lump sum payment in order to accomplish that I fear
Oh yeah. $54M to buy him out. The lump sum after taxes, as of yesterday, is $389M.
21
cracker jack Says:
March 30th, 2012 at 10:18 AM
JHS, I thought you got TBL to ban that little teenaged moron? How is it he can keep coming back in different forms? Ban the IP address, J-Mac!
22
ButtersBC Says:
March 30th, 2012 at 10:18 AM
most recent one is starting my own PAC and running for president.
Which would be all fun and games until you reignite the Cold War by mocking Putin’s accent at a state dinner and asking if his wife is good with plow
23
sousedbergin Says:
March 30th, 2012 at 10:18 AM
So I no math good but he his odds spending $10,000 and spending zero are the same. Making it rain is a better use of money.
/When a lottery pool goes around I refuse and usually buy a tall boy.
24
molemaninthemorning Says:
March 30th, 2012 at 10:18 AM
So how much does a ticket cost? I may as well play.
25
arkbadger Says:
March 30th, 2012 at 10:19 AM
someone told me this morning you have a better chance at hitting 2 holes in one in the same round of golf than you do winning this lotto.
if I win this lottery, y’all will never hear from me again, except the privileged few who will be invited to go on the sweetest 2 month golf & smoke tour ever.
26
Jay V Of Considerable Influence Says:
March 30th, 2012 at 10:19 AM
Wow, it would totally be a prick move but some rich asshole could buy all the combinations and potentially make a $120 million profit. Of course if someone else hits, they would lose $30 million.
With the tax implications, this scheme would not work.
27
spencer096 Says:
March 30th, 2012 at 10:19 AM
Which would be all fun and games until you reignite the Cold War by mocking Putin’s accent at a state dinner and asking if his wife is good with plow
please…US-russo relations would never be stronger under my administration. we’d make the peace, bury the nuke, get pills, champagne, no problem.
28
spencer096 Says:
March 30th, 2012 at 10:20 AM
if I win this lottery, y’all will never hear from me again, except the privileged few who will be invited to go on the sweetest 2 month golf & smoke tour ever.
EEEE!!!!!!!!!!!
29
webercantcoach Says:
March 30th, 2012 at 10:21 AM
JHS, I thought you got TBL to ban that little teenaged moron? How is it he can keep coming back in different forms? Ban the IP address, J-Mac!
stop crying
30
mizerle06 is mcintyred of all the trollin' Says:
March 30th, 2012 at 10:21 AM
i have like five or six distinctly different plans for it…most recent one is starting my own PAC and running for president.
you’re not old enough dumbass.
/
31
scripty Says:
March 30th, 2012 at 10:22 AM
I’d love to keep quiet. It’d be sweet to payoff friends mortgagess and such on the sly. But they make you announce your name.
32
spencer096 Says:
March 30th, 2012 at 10:22 AM
you’re not old enough dumbass.
/facepalm
er…
I WILL BE A POLITICAL STEAMROLLER AND FORCE MY WAY IN.
33
ButtersBC Says:
March 30th, 2012 at 10:24 AM
I’d buy this site from Gannett…woe to the writer who posts about ratings under my reign
34
sousedbergin Says:
March 30th, 2012 at 10:25 AM
I WILL BE A POLITICAL STEAMROLLER AND FORCE MY WAY IN.
I hear child soldiers are ideal for those kind of political operations.
/Mouseveni’d
35
bigtuna Says:
March 30th, 2012 at 10:28 AM
One of my sister’s best friends growing up won the lottery, the dad bought two tickets and won $27 million. They moved away and we never saw them again.
36
scripty Says:
March 30th, 2012 at 10:29 AM
I’d buy this site from Gannett…woe to the writer who posts about ratings under my reign
give Lisk a raise.
37
Coach Mike Woodson, Atlanta Hawks Says:
March 30th, 2012 at 10:30 AM
JayV — 175 million combinations. The tax rate would have to be 68% to breakeven. Any less and you make money (assuming 1 winner).
38
BFFredo Says:
March 30th, 2012 at 10:37 AM
It seems the PowerBall has f’d themselves by going to $2/ticket.
It’s weird. I’ll buy a $1 Mega Millions ticket just for the 1/550,000,000 chance to hit it but $2 for it and I’m stopping myself short. Now it’s something to think about and consider.
In any case, meh. I just hope it’s won this weekend so that I don’t have to fight crowds at a gas station to fill up as I’m racing towards work.
39
Jason Lisk Says:
March 30th, 2012 at 11:41 AM
I’ve never bought a lottery ticket in my life.