The whole fifty million: Chances of winning: 1 in 5
million. (1 winner)
Five million: Chances of winning: 1 in 500,000. (10
Five hundred thousand: Chances of winning: 1 in 50,000.
Fifty thousand: Chances of winning: 1 in 5,000. (1,000
Chances of winning: 1 in 500. (10,000
Five hundred: Chances of winning: 1 in 50. (100,000
Fifty: Chances of winning: 1 in 5. (One million winners)
Or would you just like to say: "No thanks, I'm a wussy, I'll
take the ten bucks." (Which if everybody opted for would
be 5 million big
losers with a lousy ten bucks)
Just got a check for basically nothing as part of a class
action suit against some insurance company I never even
think about. 50 million lawsuit, lawyers made out like
bandits but us folks getting represented got squat. Didn't
even know what it was for, didn't care.
So why not make it interesting? The people whose money
this is get to decide what they want to do with it. Take
little handful of change or bet it for some actual money?
The instructions would state that you get to take your
lousy ten bucks or be part of a vote as to how the lottery
up. If the majority of the voters (plantiffs) want a
reasonable chance at $500, that's what the lottery is for,
the people have spoken. Once the payout/odds are
on, the winners are picked at random.
I don't play the lottery, but I'd gladly give up a stupid $10
check for a one in 50 chance of $500. I think most people
would. Those are amazingly good lottery odds. The
lawyers would still get their cut, what do they care?
Of course that large payout number would be minus the
money going to the few people who just took the ten
bucks, but I'm guessing that would only be a few
thousand folks. Could be wrong, but personally, I was
offended having to take the time to deposit this little
bauble knowing that the lawyers got tens of millions.
Let it ride I say, and quit making millions off of suing
companies and giving the people pennies.