Powerball

Ludlow

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Jun 7, 2014
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wherever i sit down my ars
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

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Mar 18, 2013
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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

Hall of Fame Member
Feb 22, 2015
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Your IRS takes a hell of a lot of it, right off the top.

Lottery winnings are tax free, here.
 

spaminator

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Oct 26, 2009
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$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

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Oct 26, 2009
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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
 

Curious Cdn

Hall of Fame Member
Feb 22, 2015
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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!
 
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Curious Cdn

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Feb 22, 2015
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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.
 

Curious Cdn

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Feb 22, 2015
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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.