$1B+ Powerball Jackpot - Did You Buy Your Ticket?

[Daniel A]

Well, I wasted $6 on three tickets. But maybe I didn't waste it because I'll keep the ticket as a REMINDER.

A reminder that I missed out on the biggest jackpot in US history .

Just messing around. I had no emotion attached to the purchase and afterwards, it was, .

But I am interested in what someone should do (law, accounting, privacy, etc.) if they receive a large sum of money like that. A guy I lost contact with who was in law school gave some advice on that, but I forgot most of it. I did write it down, so it's likely in a small notepad in one of my boxes.

Anyone willing to share what should be done after winning the lottery? (assuming we're responsible people here and not going to spend any of it immediately or at all on "cocaine and hookers" :joyful.

 

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[wade1mil]

I'd buy a bulletproof Hummer H1 because I'd probably paranoid AF for the first few weeks...then I'd educate myself.

Edit: Nobody hit it and now it's at 1.3 BILLION.

 

[Rawr]

A girl in front of me today at a convenience store ordered $70 worth of lottery tickets. She forgot she had purchased something else, so her total was just over $70. She had to return the other items because all she had was the $70. She literally spent the only $70 she had on lottery tickets. In a grocery store, I would have covered the balance for her. Not in a gas station when she spent all her money on the voluntary tax. And she is just one amongst the masses that did the same thing.

So I see your Florida accilmation is going along swimmingly.

 

[Vigilante]

So I see your Florida accilmation is going along swimmingly.

I lived in Arkansas at one point. I've seen it all.

 

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[AndrewNC]

She had to return the other items because all she had was the $70.

*hands back baby food and diapers to the cashier*
"I'll take the tickets please"

When everyone else zigs...zag.
http://www.foxnews.com/us/2016/01/1...-165m-mega-millions-jackpot.html?intcmp=hpbt1

 

[AG356]

I don't know why you all hating ... it's a 50/50 chance.
You either win or lose.

 

[Bouncing Soul]

Like eating Pizza Hutt with respect to your health, the lotto is for all intents and purposes always -EV.

But like eating Pizza Hutt, some people are healthy enough to indulge without it mattering in any appreciable way, some aren't.

Like any gambling enterprise, the house always wins. Always.

Best of luck to all of you anyway.

That's a great analogy.

A girl in front of me today at a convenience store ordered $70 worth of lottery tickets. She forgot she had purchased something else, so her total was just over $70. She had to return the other items because all she had was the $70. She literally spent the only $70 she had on lottery tickets. In a grocery store, I would have covered the balance for her. Not in a gas station when she spent all her money on the voluntary tax. And she is just one amongst the masses that did the same thing.

That's just awful and depressing.

 

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[hatzil]

People who rely on winning the lottery is stupid. even If i win a lottery like this i will miss all the fun. this is not for me, i love the actions themself, thats make me a happy person

 

[Daniel A]

I'd buy a bulletproof Hummer H1 because I'd probably paranoid AF for the first few weeks...then I'd educate myself.

Edit: Nobody hit it and now it's at 1.3 BILLION.

Haha! But it seriously sucks that safety would have to be a major concern too. $1.3 BILLION? Hmmm...

Anyways, Hugh Hefner picked a great time to announce the sale of his Playboy Mansion. Someone is going to win, and I bet he or she would be interested in buying it. Not only would it be awesome for lifestyle, but it could be a nice investment. At $200 million, I'm not sure, though.

http://www.dailymail.co.uk/news/article-3391929/Legendary-Playboy-Mansion-set-sale.html

P.S. If the Playboy Mansion and the reason for its fame do not change after its sale and anyone reading this can attend one of their parties, feel free to PM with me an invite.

edit: The next video of Tai will surprise you. He'll be recording from the Playboy Mansion! Watch.

 

[James Fake]

Came across this cool little "lottery simulator"... Makes things more realistic. You can choose how much to play and see your odds. I did $2,000,000 in a background tab while working and didn't hit the jackpot lol.
http://graphics.latimes.com/powerball-simulator/

And then this link answers a big question I always had: Couldn't I just buy ~$265M worth of every combo and get ROI on guaranteed win.
http://money.cnn.com/2016/01/11/news/powerball-jackpot-win-guarantee/

I will shamelessly buy $20 of tickets tomm.. I like to keep the tickets on my desk for motivation. The fantasy of how I'd spend those millions vs. the realization that I can do it myself through biz with better odds and get those same fantasies.

 

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[TG_Hawk]

Now it's just getting crazy

http://www.latimes.com/local/california/la-me-0112-powerball-rich-20160112-story.html

 

[BlakeIC]

Came across this cool little "lottery simulator"... Makes things more realistic. You can choose how much to play and see your odds. I did $2,000,000 in a background tab while working and didn't hit the jackpot lol.
http://graphics.latimes.com/powerball-simulator/

And then this link answers a big question I always had: Couldn't I just buy ~$265M worth of every combo and get ROI on guaranteed win.
http://money.cnn.com/2016/01/11/news/powerball-jackpot-win-guarantee/

I will shamelessly buy $20 of tickets tomm.. I like to keep the tickets on my desk for motivation. The fantasy of how I'd spend those millions vs. the realization that I can do it myself through biz with better odds and get those same fantasies.

Decided to run it at $5,000,000 throughout the day, this is what I got

 

[Daniel A]

I found a website that breaks down the payouts when taking Annuity, Cash, Federal and State Taxes into account.

The "net" cash payout for where I'm at (based on the current jackpot) is: $697,500,000

Website: https://www.usamega.com/powerball-jackpot.asp

 

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[Buickestate]

Why is this even a thread?

My thoughts are it's only eight quarters, you might have that much in your cup holder. Only one ticket can win, only buy one ticket.

The factors against me buying one are ,my time driving there and back On a highway that is known for white outs this time of year, there are bridge tolls, plus the time waiting time at the boarder before entering Michigan, buy the ticket, fill up my tank, turn around and go home again. In the end that $2 ticket will cost me $30 USD, or $43 Canadian. We've just had a blast of winter weather. It's just not worth risking my life for 1.4 billion dollars. I could do better things with my time and money, like putting gas in my snow blower and clearing out my driveway.....

 

[wade1mil]

It's just not worth risking my life for 1.4 billion dollars.

Not with these odds. I'd bet you'd make the drive to close a $1.4b business deal though. I would.

P.S. $2 is eight quarters

 

[Travis.I]

I bought a few because why not for the thrill and entertainment.

But really if I won the full amount its at currently, I think life would be boring. You basically at that point have a shit ton of money. Doing most entrepreneurship stuff will only make you way smaller amounts, so you'd probably lose interest fast.

I'd say I hope I dont' win it because I rather live life experiencing things and progressing instead of just being given all the money I will ever need now. If I do win it, I really don't know what I would do with it. Lets just start with, I do not want to win it.

 

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[wade1mil]

Lets just start with, I do not want to win it.

Well that's bullshit. If you didn't want to win, you wouldn't have bought a ticket. I'd rather win $1 billion that work my a$$ off for it. Who cares if you didn't earn it. Use the money to start or buy a business. I'd love to win, and I'd work my a$$ off to own a MLB franchise. It's not like you're going to win $1 billion and then sit at home with your thumb up your a$$.

 

[Daniel A]

I found out that Spain had an even bigger lottery jackpot not too long ago. The payout was 2.2 billion euros or $2.4 billion. Their lottery system works different though and I still don't understand it, haha.

Anyways, here are the two articles I read about it:

http://money.cnn.com/2015/12/21/news/spain-lottery-el-gordo-2-billion/

http://www.wsj.com/articles/in-spain-little-town-hits-it-big-in-lottery-1452651527

 

[Fox]

Relevant...

 

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[Buickestate]

P.S. $2 is eight quarters

My bad, it's corrected, and the odds are far better in a business deal

 

[Travis.I]

Well that's bullshit. If you didn't want to win, you wouldn't have bought a ticket. I'd rather win $1 billion that work my a$$ off for it. Who cares if you didn't earn it. Use the money to start or buy a business. I'd love to win, and I'd work my a$$ off to own a MLB franchise. It's not like you're going to win $1 billion and then sit at home with your thumb up your a$$.

How close minded can you be? I explained why I bought it. I could lash out in a paragraph like you but I will just let little bitch haters hate.

 

[mws87]

Use the money to start or buy a business. I'd love to win, and I'd work my a$$ off to own a MLB franchise.

Just remember--the majority doesn't look at winning a large sum of money as capital or an opportunity to create and build something, I'm glad most of us here (if not all) do.

Most usually see it as an opportunity to own lavish things, gamble more and blow all their money. Hence why such a large portion of people blow all their money within 15 years.

 

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[jon.a]

We got 10...
The store is only a block away
There were no lines
It will only take a couple of minutes to check 10
It was only $20
It's a lot of money if the stars align

 

[Buickestate]

We got 10...
The store is only a block away
There were no lines
It will only take a couple of minutes to check 10
It was only $20
It's a lot of money if the stars align

Good Luck

 

[throttleforward]

Here is how I'm playing powerball-1,000+ organic reach, zero spent

 

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[Equilibrium]

Haha damn, they disqualified your ticket for 2 days. That's some bull.

nope i will attest to this. found bright purple M&M's in a bag and ate them. later found out there was a sweepstakes ''find odd color and win!'' could have won a camery HAHA..
To this day I pay attention to what I'm eating.

 

[Red]

Here is how I'm playing powerball-1,000+ organic reach, zero spent

I've seen a couple of companies do this. Fantastic idea for marketing, makes me giggle, mostly because everyone will assume that they are getting an equal division of the winnings when, in reality, if you win, you can dish out a dollar to everyone & you've split it with them. Then, the lawsuits will come.

I'm just glad that AZ has a law that you can claim the winnings anonymously. Because I wouldn't tell a damn soul.

 

[mws87]

Guys, just think--after tonight, someone may have dozens of estranged relatives and friends suddenly remember them and return to their life.

 

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[wade1mil]

Guys, just think--after tonight, someone may have dozens of estranged relatives and friends suddenly remember them and return to their life.

I'd personally have fun with this part

 

[Daniel A]

Guys, just think--after tonight, someone may have dozens of estranged relatives and friends suddenly remember them and return to their life.

Or it keeps increasing and A LOT of people will buy into another draw, haha.

How long has it been growing anyways? The forum is how I heard about it.

edit: the jackpot is almost twice as much as it was when OP titled it. Crazy fast increase and by a crazy amount.