OT: Powerball fail
- Thread starter RUtix4me
- Start date
Using all the money I made selling my tickets to visiting fans to buy lottery tickets so the odds don't matter.
And every few weeks, someone actually hits The jackpot. There have been more powerball winners this year than Rutgers Football national championships since 1869…so there is a chance in powerball
I don’t know where you got your info from but I don’t think it’s correct. I saw there was one winner in California and the jackpot is now back to 20M.
Yes, there's always a chance.
Just so you understand that the chance is roughly equivalent to throwing the money out the window of the car where a homeless person catches it and then the homeless person leverages the $2 to build a multibillion dollar enterprise. And, having memorized your license plate with her photographic memory, the formerly homeless CEO contacts you and gives you your return on your investment, which is about $1.5B.
I mean, it could happen. 😀
If you gave me the money instead, I could've supplied you with a hooker (not a very good hooker, for the price of the tickets, but one where the body temp is sure to still over 50F, for a little while at least).
Probably was @Caliknight who can finally spend money without having to ask permission now. Congrats, Cali. 😀
That might be an argument against increasing your odds by buying $1000s in tickets... but, really, forget teh odds.. someone will win.. eventually. And if you don't have a ticket you cannot possibly. So someone with a ticket goes from ZERO percent to something over zero percent. You go from 0 in 292.2M to 1 in 292.2M. But I suppose you get your kicks out of the lottery by being the"smart" guy who doesn't pay the idiot tax.
BTW.. this no-winner / no drawing / delayed drawing / one winner BS... that ain't right. Cancel the whole thing and do over with all of Saturdays tickets and add in all those tickets for Wednesday's drawing.. many of which were purchased thinking there was no winner.
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I like to play lotto for fun and I often joke that essentially I’m throwing money away. But I also say it’s buying a chance to dream and I’m good with that.
1 person hits $2B Powerball jackpot, lottery officials announce
1 person hits $2B Powerball jackpot, lottery officials announce
If the winner opts for the cash payout, they’ll get an estimated $997.6 million lump sum.
pix11.com
Nobody is becoming a billionare. Cut in half for the cash option and a half again for federal and state taxes.
I do not get my kicks by being the "smart" guy, no. First of all, being smart is arguably no fun at all. Secondly, I have never in these forums said or even insinuated (in seriousness, at least) that I was smart. But thanks for the compliment anyway. 😉
Actually, for only the second time in my life, the first being when the lottery was close to $1B I think and my GF at the time basically forced me to play, I played 5 quick picks w/power plays last night. Cost me $15 for the tix and I won $16.
So, basically, I got my kicks being the guy of indeterminate intelligence, so far as this forum knows, who got paid a dollar for 5 (nearly non-existent, but still) chances to win $1B in cash (less tax). Not bad, right? 😀
There is no State tax on lottery winnings in California. If the winner files single the payout would be.
| Powerball Jackpot for Mon, Nov 7, 2022$2,040,100,000 | $997,600,000 |
|---|---|
| Annuity | Cash |
| Gross Prize30 average annual payments of $68,003,333 | Cash: $997,600,000 |
| - 24% federal tax- $16,320,800 | - $239,424,000 |
| - Add'l federal taxes due (37% final rate)- $8,803,388 | - $129,650,955 |
| Subtotal$42,879,145 | $628,525,045 |
Lot's of money but still a long way from $2 billion. It's just how they market it based on the 30 year payout. I believe there been just a few that have taken the annuity payout and none since 2005. Saying California's FIRST EVER Billionaire isn't the truth but laughable.
Nothing we can do with taxes...but it is interesting that I seem to remember that the cash payout was closer to 65% than just under 50%.
With a $2 billion jackpot- it almost makes the 30 payments worth the annuity.
With a $2 billion jackpot- it almost makes the 30 payments worth the annuity.
Only $628M? Hardly worth the two buck ticket. 😀
Winning $600 million via the lottery and NOT being able to remain anonymous, as is the case in a bunch of states, would be a total PITA. It would suck. At least for NJ players, they can now elect to remain anonymous and, if done correctly, might actually be able to get away with that anonymity.
Good call- that is very recent.
In many other states- you can create an LLC and have it designated as the winner. Thus, doing the same thing.
And winning $600 million does not suck for anyone. Winning $20 million does not suck for anyone and getting a a pro sports contract does not suck for anyone.
I already have a simple rule for myself. Let's say I won the lotto and or, came into a ton of money.
I already know who I would consider sharing something with. I already know who has a real need. And, I already know- not a f-ing one of my friends or family have a good business idea. lol
So- when you ask and I politely decline- friend or family. If you have a problem with it, not my problem.
With that said- having a son that did play NFL- We gave same advice. Kid had people come out of the woodwork. But 80% of his post tax money was in his bank account in year 1. And that was after the car, townhouse and everything needed to furnish.
