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Raising Cane's CEO buys lottery tickets for all 50,000 employees

Yahoo Finance Live discusses how some employers are getting their companies involved with the Mega Millions jackpot.

Video Transcript


RACHELLE AKUFFO: Well, get ready. The Mega Millions jackpot has topped $830 million after there was no winner last week. And millions of Americans are buying their tickets, hoping to fulfill their caviar dreams when those numbers are called at 11:00 PM Eastern tonight. So what about chicken finger dreams, though? Founder and CEO of chicken restaurant chain Raising Cane's, Todd Graves, is buying one ticket for each of his company's employees for a total of 50,000 tickets.

As for the rest of you, according to our Yahoo Finance Twitter poll, only 20% of you have bought a ticket. I thought it would be higher than that. Now just under 60% have not. And 20.9% say they plan to. Well, I mean, tick tock. I mean, the clock is ticking here. But in terms of this move by Raising Cane's CEO, I think this is a fantastic move. Look, it's a bit of fun. Everyone kind of gets in on the game. And they actually ended up using their personal money, the co-CEO used his personal money for this, as the company wasn't allowed to buy the tickets. Dave.

DAVE BRIGGS: Yeah, $100,000 and he has 50,000 employees. So if he wins, right now, it's 830 million, so they get about 10 grand per employee. It's an awfully nice gesture. Now, again, your odds here, one in 302 million.

So I've said this before, and I'll say it again-- I'll be in our office pool, but it's not a great business decision to enter an office pool. Your odds are not much better even if you pool with 20 people around you. You might as well take those odds on your back yourselves. But we all win the lottery no matter what because Raising Cane's is coming here, like, 500 feet away from our office--

SEANA SMITH: Is it really?

DAVE BRIGGS: --in a a couple of months. So we'll get some good chicken fingers--

SEANA SMITH: I've never had it, but I'm excited.

DAVE BRIGGS: --very soon.

SEANA SMITH: Yeah there's a lot of loyal Raising Canes fans.

DAVE BRIGGS: It's the best. It's fantastic.

SEANA SMITH: Oh, you've had it before?

DAVE BRIGGS: Oh, yeah.


DAVE BRIGGS: It's fantastic.

SEANA SMITH: Well, then, we're going to have to go when it comes. But I like the idea. It's something to do. Office culture, company culture. He's using his own money. Very, very generous of him. And who doesn't love an office lottery, although you said that you were in it. I wasn't really going to drill down. I think it's TBD whether or not Dave is going to play in our team's pool. Rachelle, are you in?

RACHELLE AKUFFO: I am absolutely in. And some of the estimates think that the jackpot is actually potentially going to hit $1 billion by the time everything closes at 10 o'clock before you can sort of stop buying tickets. Now, if you spend-- you'd have to spend $600 million to play all 302 million odds, all the 302 million different combinations. So it's not worth it yet. But if it hits over a billion, it might be worth it if you've got the time and the energy to do that.

DAVE BRIGGS: That is some math.

SEANA SMITH: Yeah, a lot.

DAVE BRIGGS: 470 million is the cash option. I hope we're taking that up--