Powerball

Ludlow
#1
The Saturday Powerball drawing will be the highest in history according to the news. 675 Million bones with a cash option of 431 million. How could any one person spend that much cash ? At any rate I'll bet he lottery retailers will be busy the next three days.
 
Tecumsehsbones
#2
Quote: Originally Posted by Ludlow View Post

The Saturday Powerball drawing will be the highest in history according to the news. 675 Million bones with a cash option of 431 million. How could any one person spend that much cash ? At any rate I'll bet he lottery retailers will be busy the next three days.

Well. . . if you take the lump sum, that'd be about 275 million after the time value of money and taxes are deducted. Five percent return on investment on 275 million is 13.75 million per year, which after tax would be about 12 million or so, depending on how you structure your money.

So, income after taxes would be 10-12 million a year. Nice little chunk of change, but not super-rich. Couldn't buy a football team.
 
Curious Cdn
#3
Your IRS takes a hell of a lot of it, right off the top.

Lottery winnings are tax free, here.
 
Tecumsehsbones
#4
Quote: Originally Posted by Curious Cdn View Post

Your IRS takes a hell of a lot of it, right off the top.

About 35%. Most states take another 6 or 7.

Quote:

Lottery winnings are tax free, here.

They are here, too, as long as the lottery is hedge funds and the winnings are "deferred compensation."
 
Curious Cdn
#5
Quote: Originally Posted by Tecumsehsbones View Post

About 35%. Most states take another 6 or 7.


They are here, too, as long as the lottery is hedge funds and the winnings are "deferred compensation."

The odds are roughly the same.
 
Tecumsehsbones
#6
Quote: Originally Posted by Curious Cdn View Post

The odds are roughly the same.

Yeah, but some people are guaranteed to win.
 
Curious Cdn
#7
Quote: Originally Posted by Tecumsehsbones View Post

Yeah, but some people are guaranteed to win.

The same ones with "special" dice that have seven dots on all six sides?
Yeah, I've known couple of those.
 
Tecumsehsbones
#8
Quote: Originally Posted by Curious Cdn View Post

The same ones with "special" dice that have seven dots on all six sides?
Yeah, I've known couple of those.

Down here we call them "too big to fail," and give them billions out of the Treasury. Because we're not socialist.
 
eh1eh
#9
Quote: Originally Posted by Tecumsehsbones View Post

Down here we call them "too big to fail," and give them billions out of the Treasury. Because we're not socialist.

That's right. The Reptilians run the USA, the Greys just blew it with that crash in Roswell.
 
spaminator
#10
Quote: Originally Posted by Ludlow View Post

675 Million bones

many dogs just fainted.
 
spaminator
#11
$700 million Powerball will be largest U.S. jackpot ever
Ben Klayman, Reuters
First posted: Thursday, January 07, 2016 01:11 PM EST | Updated: Thursday, January 07, 2016 01:49 PM EST
ANN ARBOR, Mich. - Falsetta's Market on Washtenaw Avenue in Ann Arbor, Mich., has seen new ticket buyers coming out of the woodworks since the Powerball lottery soared to an all-time record high for North America, reaching $700 million on Thursday afternoon.
"Yesterday was huge," manager Matt Devereux said of the run-up to Wednesday night's drawing, when no one won the jackpot which then stood at $500 million.
"A lot of people who don't normally play, and who very, very rarely play, were buying."
The $700 million jackpot for Powerball, played in 44 states, Washington, and two U.S. territories, is worth $428.4 million if a winner chooses an immediate cash payout instead of annual payments over 29 years, the Multi-State Lottery Association said on its website. The drawing will be held on Saturday.
Devereux said that type of payout was pulling in more elderly buyers than he normally sees, and the amount being spent on tickets was as much as five times higher than usual, with most people spending $10 or $20.
That kind of influx of money was being reported in other states as well.
Between $5 million and $10 million per hour in Powerball ticket sales were expected in California in the hours leading up to Saturday's drawing, said Alex Traverso, spokesman for California Lottery.
"People are going to be excited and want to be a part of it," he said. "The momentum is just going to build."
On Wednesday, there were $20 million in Powerball ticket sales in California, Traverso said.
The last Powerball jackpot winner was in November, when a ticket holder from Tennessee claimed $144.1 million. However, that was far smaller than last year's biggest jackpots of $564.1 million in February and $310.5 million in September.
The previous record North American lottery jackpot payout was in March 2012, when $656 million was won in a Mega Millions draw.
$700 million Powerball will be largest U.S. jackpot ever | World | News | Toront
 
spaminator
#12
Record U.S. Powerball jackpot reaches $900 million
Alex Dobuzinskis, Reuters
First posted: Saturday, January 09, 2016 01:41 PM EST | Updated: Sunday, January 10, 2016 12:23 AM EST
LOS ANGELES - Dreaming of overnight riches, millions of Americans anxiously checked their tickets for the winning combination in the multi-state Powerball lottery after a Saturday night drawing for a record $900 million jackpot.
It was not immediate known if any ticket holder had the magic combination of six numbers selected in the drawing: 32, 16, 19, 57, 34 and the Powerball number was 13.
The grand prize for Powerball, played in 44 states, Washington, and two U.S. territories, has climbed steadily for weeks after repeated drawings produced no big winners. This week, ticket purchases surged along with the size of the pot.
The grand prize in Saturday's drawing was worth $558 million if a winner chooses an immediate cash payout instead of annual payments over 29 years, according to lottery officials in California, one of the participating states.
The prize, which rises with every drawing that produces a winning series of six numbers held by no ticket buyer, ranks as the largest jackpot for any lottery in North American history. With almost unimaginable riches at stake, many Americans who normally shun lotteries joined the long lines of people buying tickets at retail stores across the country.
Dony Elias, 26, an attendant at Stardust Liquor in Los Angeles, said 300 customers picked up tickets for Powerball last night at his store. Elias admitted to buying a ticket for himself, something he said he had never done before.
And like many other players, he has already given some thought to what he would do with the cash.
"I would take a trip to the moon," he said.
California, the nation's most populous state, normally sees Powerball sales of $1 million a day, but on Saturday morning sales were a head-spinning $2.8 million an hour, said California Lottery spokesman Mike Bond.
Excitement swirled among ticket buyers despite what some statisticians call mind-boggling odds for the Powerball game - one in 292 million.
Jeffrey Miecznikowski, associate professor of biostatistics at the University at Buffalo, said in an email an American is roughly 25 times more likely to become the next president of the United States than to win at Powerball.
Or to put it another way, the odds are equivalent to flipping a coin 28 times and getting heads every time, he said.
"It doesn't sound so bad ... but you would be at it for an eternity," Miecznikowski said.
November was the last time a jackpot winner emerged from Powerball, which is run by the Multi-State Lottery Association.
In the previous drawing on Wednesday night, the jackpot stood at $500 million and nobody won, setting the stage for the latest drawing just before 11 p.m. Eastern time on Saturday.
If no one has the winning numbers again, the jackpot will likely rise to an estimated $1.3 billion by Wednesday, the next scheduled drawing, Bond said. It may cross the $1 billion threshold on Saturday, he said.
The previous record North American jackpot payout for any lottery game was in March 2012, when $656 million was won in the multi-state Mega Millions draw.
Record U.S. Powerball jackpot reaches $900 million | World | News | Toronto Sun
 
Ludlow
#13
Nobody won again
 
SLM
#14
Quote: Originally Posted by Ludlow View Post

Nobody won again

No winning ticket means Powerball jackpot could hit $1.3B | CTV News



One point three billion. That's billion with a B.


That kind of money can change the fate of a small nation.
 
Ludlow
+1
#15  Top Rated Post
Quote: Originally Posted by SLM View Post

No winning ticket means Powerball jackpot could hit $1.3B | CTV News



One point three billion. That's billion with a B.


That kind of money can change the fate of a small nation.

Hell I could even get my damaged front fender fixed with that kinda cash.
 
Curious Cdn
-1
#16
A few million dollars lottery win would be great for most of us but a huge one would probably ruin your life.


Walter doesn't like that??

HUNH??

He's nuttier than I thought!
Last edited by Curious Cdn; Jan 10th, 2016 at 11:11 AM..
 
Ludlow
-1
#17
strange that Nevada, "The ugliest state in the country", has no lottery.
 
Curious Cdn
#18
Nevada IS a lottery! As soon as you get off the plane in Vegas, it's the sound of "ching!!!!-chongchong-ching!!!! ching!!!!" nonstop until you get back on the airplane, again.
 
Walter
#19
Quote: Originally Posted by Curious Cdn View Post

A few million dollars lottery win would be great for most of us but a huge one would probably ruin your life.

Yeah, the asylums are full of billionaires.
 
Curious Cdn
#20
Quote: Originally Posted by Walter View Post

Yeah, the asylums are full of billionaires.

There is a massive difference between those who built assets worth billions and Joe Schmos who suddenly had it drop out of the sky into their trailer parks.

Take a good look at the decadent rotters who inhereted "big wins" like that. Paris Hilton, there's one but she is only one of a legion of them.
 
Ludlow
#21
Quote: Originally Posted by Walter View Post

Yeah, the asylums are full of billionaires.

inherited or did you earn it?
 
spaminator
#22
At $1.3 billion, Powerball jackpot is world's largest ever prize: official
Josh Funk, THE ASSOCIATED PRESS
First posted: Saturday, January 09, 2016 01:41 PM EST | Updated: Sunday, January 10, 2016 02:15 PM EST
OMAHA, Neb. -- Disappointed you didn't win the Powerball jackpot this weekend? Don't be.
Lottery officials say the estimated $1.3 billion prize is the world's largest. Ever.
No one matched all six Powerball numbers Saturday night, leading to the astronomical prize, which is all but certain to grow before the next drawing Wednesday as others buy tickets, said Kelly Cripe with the Texas Lottery.
The odds to win are one in 292.2 million, according to the Multi-State Lottery Association, which runs Powerball. Cripe said 75 per cent of all 292.2 million combinations were bought before Saturday's drawing.
The jackpot has ballooned since its Nov. 4 starting point of $40 million.
The winning numbers -- 16-19-32-34-57 and Powerball number of 13 -- did gain some people a little wealth: 25 tickets won $1 million by matching five numbers, and three other tickets won $2 million because they paid extra to multiply smaller prizes.
The record jackpot lured an unprecedented frenzy of purchases. Anndrea Smith, 30, said Saturday that she already had spent more than she usually does on Powerball tickets.
"I bought four yesterday, and I usually never buy any," said Smith, manager of Bucky's gas station and convenience store in Omaha, Nebraska.
Powerball is played in 44 states as well as the District of Columbia, U.S. Virgin Islands and Puerto Rico. The next Powerball drawing is Wednesday.
At $1.3 billion, Powerball jackpot is world's largest ever prize: official | Wor
 
JLM
#23
Quote: Originally Posted by SLM View Post

No winning ticket means Powerball jackpot could hit $1.3B | CTV News



One point three billion. That's billion with a B.


That kind of money can change the fate of a small nation.

Or a big family.
 
spaminator
#24
$1.4-billion Powerball lottery: Ain’t greed grand?
By Mike Strobel , Toronto Sun
First posted: Monday, January 11, 2016 07:11 PM EST | Updated: Monday, January 11, 2016 08:24 PM EST
TORONTO - Life’s funny, eh?


Look at David Bowie. He sang his heart out for 50 years, had countless hits, reinvented music, married a supermodel and left a $230-million estate when he died Monday, age 69.


On Wednesday, some tone-deaf peon may accumulate five times that wealth — quicker than you can say, “Ground control to Major Tom.”


America’s Powerball lottery prize went unclaimed on the weekend and has swelled to US$1.4 billion, the biggest jackpot in world history. That’s $1.9 billion Cdn.


It’s about what composer Andrew Lloyd Webber, richest man in music, is worth.


There’s a 293 million-to-one chance you’ll win Wednesday’s Powerball, which, come to think of it, is better than your odds of being Andrew Lloyd Webber.


Ground control to major greed.


(Editor’s note: Strobel, what are you, president of Gamblers Anonymous? We thought you were a libertarian.)


Fear not, dear avaricious boss.


Lotteries such as Powerball may turn placid citizens into drooling, grasping greedmeisters.


But that’s a good thing. Greed makes capitalism go ’round. It gets things done. It is what separates us from apes and Habs fans.


True, winning a big lottery contributes less to mankind than, say, revolutionizing pop music. Lotteries are a shortcut through such nuisances as school, training, hard work and sleeping with the boss. Luck is greed’s great equalizer.


Lotteries defy all logic and reason. They are even recession proof — ticket sales are unharmed by economic downturns.


But it’s the greedy thought that counts.


What a shame that greed gets a bad rap. Star athletes, politicians and CEOs are all decried as “greedy.” But, really, they want what we all want: Everything we can get our mitts on.


Alex Rodriguez, Pamela Wallin and Bill Gates are just better at it than most of us.


Christianity considers greed one of the seven deadly sins, though not among the Christians of Bay St.


A cynic might suggest lotteries combine greed with another of the deadly seven, sloth.


But that’s unfair. Pride is a big “sin,” too. But we revere pride — as we should admire greed.


Greed lights a fire under your ***, even if only to trot down to the corner store to buy tickets.


For Powerball, that’s a long trot, to the nearest border crossing. You can also get your ticket through a third-party website, but buyer beware.


There are complicated payout and tax hurdles, unlike Canadian lotteries. Still, even with the 30% levy on a foreign winner, you’d net more than $1 billion in Canadian currency.


The numbers are so unimaginable that Powerball digital signs can’t even show the true jackpot — they only go up to a measly $999 million.


If you win, good time. Opportunity just knocked — on the door of the Playboy Mansion. It’s for sale for $200 million and comes with 20,000 square feet, 29 rooms, five acres, a pool and a legendary grotto — and Hugh Hefner.


Hef stays. That’s the deal. If you buy the place, he might let you borrow his pyjamas.


Or you may wish to put your winnings elsewhere — after you’ve shown your gratitude to me for reminding you to get a ticket.


We’ll all be thankful if you pay down some of Ontario’s massive debt, or shave a third off this year’s deficit, but we won’t hold our breath. Give it to the Wynne Liberals?


You’re greedy, not stupid.


Strobel’s column usually runs Monday to Thursday. Hear him at 94.9 The Rock FM Tuesday and Thursday mornings.


mike.strobel@sunmedia.ca
$1.4-billion Powerball lottery: Ain’t greed grand? | Strobel | Toronto & GTA | N

Toronto bakery serving up U.S. Powerball tickets
By Shawn Jeffords , Toronto Sun
First posted: Monday, January 11, 2016 09:03 PM EST | Updated: Monday, January 11, 2016 09:07 PM EST
TORONTO - Lisa Guluzian hopes that on Wednesday, she’ll be the baker giving away all the dough.


The operator of World Class Bakery, on St. Clair Ave. W., is getting in on the hype surrounding the record Powerball lottery jackpot in the U.S.


Over the next two days, the shop will being giving away up to 300 tickets for the $1.4-billion draw to customers who spend more than $20.


The promotion has already had people driving from across the city to pick up a little extra banana bread, Guluzian said.


“It’s just to cheer people up,” she said of the giveaway. “We’re in a recession, let’s forget about it for awhile.”


Guluzian said the shop, which has been in the neighbourhood for 15 years, did the same thing about a decade ago when the Powerball jackpot reached a mere $340 million. Customers had fun with it so the shop decided to buy some tickets in the U.S. and bring them back to give away.


“Everybody wants freedom,” added Guluzian. “It’s all about freedom. Everybody wants that dream. Until Wednesday at (10) p.m., everybody is going to dream that they’re the winner.”


Canadians can play the U.S. lottery but if they win, they’ll have to fork over a share of it to the taxman. Even knowing that, Raffaela Andreano, a regular at the bakery, scooped up a loaf of banana bread and a ticket Monday.


And just by chance, Andreano’s ticket happened to have her lucky numbers on it.


“I think it’s crazy,” she said of the massive jackpot. “I think it’s good, but it’s too much money. It would actually give me a heart attack if I won.”


But Andreano doesn’t have much trouble imagining what she’d do with the cash after she recovered from the shock.


“First, I’d spend some on myself,” she said. “Then I’d give to charities and help out some people — whoever needs the help.”


Customer Petee Chios said he thinks the promotion is all about spreading joy. He praised the bakery, which he dubbed his “retirement home,” as a great community business.


“She’s got a big heart,” he said of Guluzian. “You have to know her, she’s the best.”


Guluzian said she will hang on to a few tickets for friends and family but hopes that the winning ticket comes from her shop. But when asked if she’d sell her secret banana bread recipe for the $1.4-billion prize, she paused.


“I’d have to think about it,” she said, laughing. “Because it’s a real secret.”


shawn.jeffords@sunmedia.ca
Toronto bakery serving up U.S. Powerball tickets | Toronto & GTA | News | Toront

Can a Canadian win the Powerball? You sure can
Postmedia Network
First posted: Monday, January 11, 2016 01:26 PM EST | Updated: Monday, January 11, 2016 02:23 PM EST
So you want to cash in on Wednesday's US$1.4-billion Powerball jackpot, the world's biggest ever draw. Here's what you need to know:
Can I play the Powerball lottery, even though I'm Canadian?
You bet you can. No citizenship required to win.
How do I buy a ticket?
Take a drive. The only way to legally purchase a Powerball ticket is from a licenced retailer. So while you don't have to be American to win, you have to be in the U.S. to buy your ticket. There are online operators who claim to buy tickets on your behalf, but Powerball warns against these unregulated services.
What kind of tax can I expect to pay if I win?
A winner would have the option of being paid through annual payments over 29 years or opting for one smaller cash payment. Canada doesn't tax lottery jackpots (except as income -- so brace for it). The U.S., however, has a special tax just for gambling wins -- it's 25% for citizens, but 30% for us non-Americans. Also keep in mind that winning is a very big 'if.' The odds are one in 292.2 million.
So what does that leave me with?
Even with 30% knocked off, you'll still end up with $980 million over annual payments, so you're not likely going to starve. Also consider, with the dollar where it is right now, that actually amounts to about $1.4 billion in Canadian dollars. So if you think of it like that, it might cushion the blow.
Can a Canadian win the Powerball? You sure can | Canada | News | Toronto Sun
 
Ludlow
#25
Okay so the powerball is going to hit 1.4 Billion bucks. My daughter is convinced she is going to be the winner so after all is said and done, and she is greedy so she wants the cash option, how much is she going to pocket after taxes and all the other obligations are paid?
 
JLM
#26
Quote: Originally Posted by Ludlow View Post

Okay so the powerball is going to hit 1.4 Billion bucks. My daughter is convinced she is going to be the winner so after all is said and done, and she is greedy so she wants the cash option, how much is she going to pocket after taxes and all the other obligations are paid?

It will be a couple of million for sure.
 
Ludlow
+1
#27
Quote: Originally Posted by JLM View Post

It will be a couple of million for sure.

You probably ain't liein. Uncle Sam will get the lions share that's for damn sure. Gotta keep those programs goin like the rock and roll hall of fame and shyt like that.
 
B00Mer
#28
Powerball dreams, Canada? A U.S. law could get in the way



A little-known U.S. law is creating confusion for Canadians crossing the border to purchase tickets for the record Powerball lottery jackpot draw.

Like thousands of other Canadians, Lisa Yuen, a resident of Burnaby, B.C., headed across the border last week, to buy tickets ahead of the last Powerball draw held Saturday.

But Yuen was surprised when she received a strict warning from a U.S. border guard, about a law of which she'd never heard.

"We got a bit of a lecture from the border guard, saying that you can buy a ticket, but you can't take it back into Canada and then come back to the United States," she told CTV Vancouver.

U.S. law does not forbid foreigners from buying tickets or winning the lottery, and according to the Powerball website, "You do not have to be a citizen or a resident to play the game. You can be a tourist."

But if a Canadian buys a ticket, takes it home, and then tries to bring it back into the United States, they risk violating a law that forbids importing "immoral articles."

According to the law, "all persons are prohibited from importing into the United States from any foreign country any … lottery ticket, or any printed paper that may be used as a lottery ticket, or any advertisement of any lottery."

The same law also forbids importing material that advocates for or urges treason, or threatens to take the life of or inflict bodily harm upon any person in the U.S.

And though the lottery section of the rules may seem obscure, Yuen wasn't the first Canadian to run into the issue.

In December, U.S. border guards seized nine B.C. lottery tickets from a man trying to cross the border, and confiscated his Nexus card during the incident.

Ahead of the Powerball draw Wednesday, for a jackpot estimated to be at least US$1.4 billion, the rule is raising questions for lottery players and officials on both sides of the Canada-U.S. border.

"It is concerning," Jana Jones, the director of legal services at Washington's Lottery, said. "It appears the Washington border patrol is not allowing Canadians to bring (tickets) back in."

When asked if border officials would be able to seize a jackpot-winning ticket, she replied "It appears so."

Still, the law isn't stopping thousands of Canadians from trying their luck.

After buying $34 worth of tickets in her cross-border trip last week, Yuen said that, for her, the $1.4B jackpot is worth the risk.

"It's a chance I'm willing to take," she said.

source: Powerball dreams, Canada? Little-known U.S. border law could get in the way | CTV News
 
Sons of Liberty
+1
#29
They upped it to $1.5 billion
 
PalNdrom
#30
The losers lose money and the winner's life will be ruined. No thanks!
 

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