I’m gonna get some of those watches from Dave for you fellas!

I've been hoping for many years that me and 42 others win.

And we all build four plex homes .

And spend the next 20 years visiting each other

I don't play the lottery but I did overhear some guys at the gym. Did I hear correctly that it is around 1.8 BILLION dollars?

^^^ You only get a lump sum of 608 million dollars pre-tax. Lol.

Yup... something like 1.8 billion...that is if you opt for the anunity payments spread out over 20 to 30 years.. Cash of 608 million cash minus all taxes and fees which means about 1/2 of that amount...... Lottery is legalized state sanctioned gambling... Odds are with the house... Do Not play unless you can afford to loose....................................... drill sgt.

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Lottery is legalized state sanctioned gambling... Odds are with the house... Do Not play unless you can afford to loose

That's true, but you can't win if you don't play. I have several customers who have been lottery winners.

quote:

Originally posted by drill sgt:
Lottery is legalized state sanctioned gambling... Odds are with the house... Do Not play unless you can afford to loose.

I prefer to think of it as a math tax.

It's $2 to play and grand prize odds are 1 in 292,201,338. Therefore, once it gets above $584,402,676 then it's statistically worth $2. Has to get above $1,168,805,352 to be worth $4. Lowest prize is $4 and 1 in 24.87 chance of winning any prize.

Way too many people drop $20 or more, and are paying a math tax.

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Do Not play unless you can afford to loose.

Good advice, and based on the history of past "winners," coming into a large bounty of unearned money isn't usually a boon. Few people have the discipline not to spend the bulk of it on ephemeral belongings rather than put some away fo a rainy day.

Also, shouldn't winnings from state-sponsored wagering be exempt from taxation? After all, they are getting the profits from the activity itself, why should they get a vig on top of that? And isn't representing a current value as its inflated value down the road equivalent to investor fraud? Betcha if a corporation did that in their 10K, they'd suffer for it.

So you "win" $1.8B, and it is actually worth near $700M in today's dollars, then you have to pay taxes on top of that netting maybe $420M, just 23% of the "winning" amount. A loser's game, to be sure.

If John Cougar Mellencamp ever wins an Oscar, I'm going to be a very wealthy man!

We'll drop $2 when it's near/above 1B, but that's about it.
And, I rarely have cash, so that keeps me from buying a ticket usually.

The Universe knows better than to let me come into that kind of money. I’d do some absolutely silly stuff.
$608 million in walk away cash, eh?
Storage containers double stacked around my entire place would be a good start….

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When I win the powerball tonight…

I'm not telling anybody, but there will be signs:

^^^ Room? You should have the gun house. With 3 stories. Full-autos first floor. Semi-autos second. Bolt actions third floor.

First, I disappear like I went into Witness Protection.

Second, nice house on big piece of land. Not too extravagant of a house.....now for the bunker UNDER the house, that is a different story. There might be an entire level for firearms.

Mrs. Mike and I plan on building a compound, moving in a very few friends and family, and never being heard from again. Prolly Eastern TN (tax reasons).

I’ll put you guys on the visitor list with the gate guard, but you have to use your avatar name and give the secret handshake.

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Originally posted by OttoSig:
I’m gonna get some of those watches from Dave for you fellas!

And adopt all of us...

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Originally posted by snoris:

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Originally posted by OttoSig:
I’m gonna get some of those watches from Dave for you fellas!

And adopt all of us...

I am ready for adoption! I didn’t by a ticket so that is my only hope.

quote:

Originally posted by tatortodd:

quote:

Originally posted by drill sgt:
Lottery is legalized state sanctioned gambling... Odds are with the house... Do Not play unless you can afford to loose.

I prefer to think of it as a math tax.

It's $2 to play and grand prize odds are 1 in 292,201,338. Therefore, once it gets above $584,402,676 then it's statistically worth $2. Has to get above $1,168,805,352 to be worth $4. Lowest prize is $4 and 1 in 24.87 chance of winning any prize.

Way too many people drop $20 or more, and are paying a math tax.

So if you buy all the tickets and no one else wins you're guaranteed to win. You'd get $600,000,000+ after taxes plus the additional ticket sales, plus a number of winners from all five numbers, but wrong power ball. Plus 4 numbers and power ball. Plus even smaller prizes. Also presumably you could write off almost $600m in gambling losses.

How long does 292,000,000 lottery tickets take to print, and how much does the ink and paper weight?

quote:

Originally posted by Skins2881:

quote:

Originally posted by tatortodd:

quote:

Originally posted by drill sgt:
Lottery is legalized state sanctioned gambling... Odds are with the house... Do Not play unless you can afford to loose.

I prefer to think of it as a math tax.

It's $2 to play and grand prize odds are 1 in 292,201,338. Therefore, once it gets above $584,402,676 then it's statistically worth $2. Has to get above $1,168,805,352 to be worth $4. Lowest prize is $4 and 1 in 24.87 chance of winning any prize.

Way too many people drop $20 or more, and are paying a math tax.

So if you buy all the tickets and no more than one other wins you're guaranteed to win. You'd get $300,000,000+ after taxes plus the additional ticket sales, plus a number of winners from all five numbers, but wrong power ball. Plus 4 numbers and power ball. Plus even smaller prizes.

How long does 292,000,000 lottery tickets take to print, and how much does the ink and paper weight?

I recall this question coming up one of the prior times it was >1B
Something about it being physically impossible to secure every possible combination, at least not solo.

Then the task of finding the winning ticket in that mass of options.

quote:

Originally posted by jsbcody:
First, I disappear like I went into Witness Protection.

That would be what I'd do.

A few years back (when people still had landlines), they had a lottery winner here in Chicago on the radio. The guy said he got calls all the time from relatives he didn't even know he had, strangers calling with sob stories and pleading for money, people hawking all kinds of investments, etc. He said he'd changed his phone number a couple of times, but after a couple of weeks the calls would start again.