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Obscured
05-16-2013, 09:19 PM
$550,000,000 and growing. May hit 3/4 billion by $aturday Night'$ drawing.
Of course should I win, among the usual houses and cars and dream vacations and take care of all my friends and family etc. crap...
I promise to make that Genesis reunion happen once and for all!
That's IF I survive the heart attack.

The Mega Millions jackpot is $190,000,000. Meh.

Good Luck Everyone!

Scott Bails
05-16-2013, 09:25 PM
Were I to win that jackpot, I promise that I would do some kind of concert/festival-type of thing with benefits for all PE members.

Jimmy Giant
05-16-2013, 10:20 PM
What would it cost to buy Clear Channel and reprogram it with Prog????

JKL2000
05-17-2013, 09:47 AM
Where can you buy tickets for this? I'm certain I'd win.

rapidfirerob
05-17-2013, 12:54 PM
My coworkers and I have bought tickets, so we're sure to win. ;) Lots of new boutique basses for a start.

Obscured
05-17-2013, 07:48 PM
$600,000,000 now.
If I win, I resurrect Nearfest; opening weekend headliners will be a reunited Genesis and a reunited Gentle Giant.

I'll make them offers they can't refuse.

Banquo
05-17-2013, 09:15 PM
$600,000,000 now.
If I win, I resurrect Nearfest; opening weekend headliners will be a reunited Genesis and a reunited Gentle Giant.

I'll make them offers they can't refuse.

There's not enough money in the world. Nice thought tho.

Rune Blackwings
05-18-2013, 08:41 PM
With 600k$. You could almost afford Fripp

Obscured
05-19-2013, 02:22 AM
10, 13, 14, 22, 52 * 11

Not me.

Shadow
05-19-2013, 08:51 AM
One person from Florida. No income taxes in Florida.

I had 10 11 12 22 52 34

Scott Bails
05-19-2013, 02:23 PM
Bummer.

Obscured
08-02-2013, 11:53 PM
And just like that it's up to $300,000,000 for tomorrow, Saturday 8/3.
Good luck everyone.
And by everyone I mean ME!!!!!!

(For what I would do with my winnings, after surviving the heart attack of course, please refer to the first post in this thread.)

JKL2000
08-03-2013, 01:22 PM
If I win, I promise I'll go to both of those prog cruises.

HealthyNational
08-03-2013, 10:49 PM
Wait till you see the prog cruise ...prog island I set up when I win!!

Obscured
08-04-2013, 02:10 AM
No winner.
$400,000,000 and rising.

Facelift
08-04-2013, 02:11 AM
$400 million on Wednesday...

BobM
08-04-2013, 08:38 AM
nobody won last night, growing again to a level where I just might have to buy a ticket.

(Actually, almost no one is buying regular lottery because of Powerball. I could be very happy winning the small one too.)

HealthyNational
08-04-2013, 03:24 PM
Invested ten bucks this morning.

Obscured
08-05-2013, 10:00 AM
In for 10 too.

Obscured
08-06-2013, 04:08 PM
425

Obscured
08-07-2013, 11:02 PM
$448,400,000 (odd amount but I'll take it)

58, 5, 25, 59, 30 - 32

Obscured
08-08-2013, 01:21 AM
NEW YORK (CBSNewYork/AP) – Three lucky souls will be splitting the Powerball jackpot, which hit an estimated $448.4 million Wednesday.

The winning numbers drawn Wednesday evening were 5, 25, 30, 58, 59, and Powerball 32. Lottery officials then told CBS 2 early Thursday morning that three winning tickets matched all six numbers, and that two of the tickets were sold in New Jersey. The other was sold in Minnesota.

Facelift
08-08-2013, 09:20 AM
Didn't win.

Back to work.

Scott Bails
08-08-2013, 10:17 AM
Hi ho, hi ho....

HealthyNational
08-09-2013, 09:38 AM
Tomorrow's jackpot is 40 million dollars. Meh.

Obscured
09-11-2013, 04:11 PM
And just like that it's up to a quarter billion dollars again.

Facelift
09-11-2013, 05:11 PM
And just like that it's up to a quarter billion dollars again.

All right! $250 million and up is when I start playing.

Obscured
09-12-2013, 09:13 PM
317

Obscured
09-15-2013, 10:06 AM
$$ FOUR HUNDRED MILLION $$

Obscured
09-19-2013, 12:13 AM
7. 10. 22. 32. 35.

19

Obscured
12-10-2013, 10:33 PM
$344,000,000 draw in about half an hour.

Obscured
12-11-2013, 11:16 AM
$$ FOUR HUNDRED MILLION $$
Again.

Obscured
12-14-2013, 07:44 PM
$550,000,000.
Over half a billion.
Will soar over 600 by draw on Tues, possibly nearing 3/4 billion.

Shadow
12-14-2013, 08:16 PM
Missed it by five numbers.

Obscured
02-16-2014, 10:09 AM
Wednesday's Powerball jackpot is at $400,000,000 and growing.

Shadow
02-16-2014, 11:39 AM
You mean I have to win this thing again. :roll

Obscured
02-20-2014, 07:04 PM
MILPITAS, Calif. (AP) - The lone winning ticket for the $425 million Powerball jackpot was sold at a convenience store in central California, but there was no immediate word on who may have won one of the largest lottery jackpots in U.S. history.

The winning numbers drawn Wednesday night were: 1, 17, 35, 49, 54 and a Powerball of 34.


BASTARDS!

Obscured
02-23-2014, 11:04 PM
Mega Millions jackpot for Tuesday is $195,000,000. Guess that will have to do.

Obscured
03-07-2014, 04:24 PM
Ah, so-
http://www.aol.com/article/2014/03/07/great-grandmother-wins-lottery-with/20845083/?icid=maing-grid7%7Cmain5%7Cdl7%7Csec1_lnk3%26pLid%3D451672
Tonight's MM jackpot is $270,000,000.

Obscured
03-08-2014, 11:55 AM
Tuesday's Mega Millions jackpot is now $309,000,000.

Obscured
03-12-2014, 10:31 PM
353 Friday.

Obscured
03-15-2014, 03:00 AM
$$$ FOUR HUNDRED MILLION $$$

Obscured
11-01-2014, 10:52 PM
)) Opens door, turns on lights ((

**Tuesday's MegaMillions draw is now $321,000,000.**

)) Shuts lights, leaves the room ((

Scott Bails
11-02-2014, 07:20 PM
I have my tickets. :)

Camelogue
11-03-2014, 12:33 PM
Our group of 21 is in, figure about $5.5 million each after taxes.

But all my buck really gets me is a dream, and that is OK with me.

Obscured
01-06-2015, 01:07 PM
$206,000,000 tonight.

Dave (in MA)
01-06-2015, 01:14 PM
I didn't win the Anthony Phillips box so I figure I'm due.

Shadow
01-06-2015, 02:49 PM
$206,000,000 tonight.

That's almost 8 million a year for 26 years

Obscured
01-09-2015, 12:13 AM
Mega is now 221 million smackeroos. Powerball closing in fast at $162,000,000. Draws Friday and Saturday nights respectively. I'm sure I'll get one of those jackpots.

Obscured
01-15-2015, 11:10 AM
Mega is now 221 million smackeroos. Powerball closing in fast at $162,000,000. Draws Friday and Saturday nights respectively. I'm sure I'll get one of those jackpots.

270 & 194 now.

BobM
01-15-2015, 12:31 PM
At those numbers it's time to circle the fellow workers and start a pool. We did. I wouldn't mind sharing 270 million a bunch of ways if pooling our tickets raises my chances of winning from .000000001% to .0000000015% :horns

Obscured
02-02-2015, 05:37 PM
Wednesday. Powerball. $317,000,000.

Brian Griffin
02-07-2015, 06:59 AM
I will see to it that an Anderson Ponty Band studio CD comes to pass should I claim the prize

BG

Obscured
02-07-2015, 12:31 PM
$380,000,000 up for grabs tonight.
Pretty sure I'd be able to get Jon & Rick back in Yes.

Scott Bails
02-07-2015, 12:56 PM
If I were to win a Powerball jackpot, the absolute last thing I'd do is give any of it to Jon Anderson.

Brian Griffin
02-07-2015, 01:09 PM
If I were to win a Powerball jackpot, the absolute last thing I'd do is give any of it to Jon Anderson.

I dunno, I think I'm w/ Obscured - probably the first endeavor is to buy my way into some bands reunions

Definitely a private Union 2 with me choosing the setlist, and I'd work with Greg Walker to avenge Farfest and bring a bunch of Italian acts over

The lottery should make a commercial based on this scenario

BG

Jerjo
02-07-2015, 03:15 PM
https://www.youtube.com/watch?v=wn2_KJWmRXI

Obscured
02-08-2015, 10:29 AM
Wednesday. $450,000,000+.
Gonna get Wakey to play Gates....

Scott Bails
02-08-2015, 10:46 AM
I dunno, I think I'm w/ Obscured - probably the first endeavor is to buy my way into some bands reunions

Definitely a private Union 2 with me choosing the setlist, and I'd work with Greg Walker to avenge Farfest and bring a bunch of Italian acts over

The lottery should make a commercial based on this scenario

BG

Sure. I'm on-board with that. I'm just not giving any to Anderson. :)

Obscured
02-10-2015, 08:54 PM
$485,000,000. Should cross the 1/2 $$Billion$$ mark by tomorrow's draw.
First, gotta survive the heart attack. Then, we talk about resurrecting old bands & putting together new ones!

Facelift
02-10-2015, 11:54 PM
Wednesday. $450,000,000+.
Gonna get Wakey to play Gates....

I would purchase Yes.

They're only sticking around for the money now anyway, so I'd bet it would only take a a few million each to Howe and Squire to get them to sign the name over to me and sail off on cruises where they just hang out and aren't part of the nightly entertainment. White would get a cut, out of the goodness of my heart. I would hand-deliver Downes his pink slip.

This way nobody, ever again, would be allowed to make another album under the Yes name.

Heck, maybe this has kickstarter campaign potential.

Obscured
02-11-2015, 01:29 PM
Officially a HALF BILLION $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$.

Obscured
02-11-2015, 11:37 PM
25, 11, 54, 13, 39
Powerball - 19

$564,000,000-

-=RTFR666=-
01-03-2016, 01:48 AM
http://www.chicagotribune.com/news/local/breaking/ct-powerball-jackpot-20160102-story.html

Obscured
01-05-2016, 05:29 PM
$450,000,000 up for grabs tomorrow.

Obscured
01-06-2016, 12:28 PM
$$$ 1/2 Billion $$$

Dave the Brave
01-06-2016, 02:50 PM
The downside.

http://www.forbes.com/sites/janetnovack/2013/03/23/tax-on-320-million-powerball-jackpot-millions-more-than-in-2012/

Scott Bails
01-06-2016, 03:06 PM
The downside.

http://www.forbes.com/sites/janetnovack/2013/03/23/tax-on-320-million-powerball-jackpot-millions-more-than-in-2012/

Not really a bad thing

Calabasas_Trafalgar
01-06-2016, 09:10 PM
^^^a nice problem to have.

Shadow
01-06-2016, 09:55 PM
The downside.

http://www.forbes.com/sites/janetnovack/2013/03/23/tax-on-320-million-powerball-jackpot-millions-more-than-in-2012/

Take the annuity like I would.

Calabasas_Trafalgar
01-07-2016, 02:33 AM
Take the annuity like I would.

Tell that to Steve Young!

Shadow
01-07-2016, 07:41 AM
Tell that to Steve Young!

Or Dan Marino

Obscured
01-07-2016, 09:34 AM
No winner. Saturday's jackpot is now $675,000,000.
Largest in U.S. history. Should get close to a billion by draw time.

Dave (in MA)
01-07-2016, 09:45 AM
Damn.

I was going to play that number but I forgot to stop at the 7-11 on the way home.

Oh, well.

tom unbound
01-07-2016, 11:59 AM
OK, now I'll buy a ticket......

Supersonic Scientist
01-07-2016, 12:21 PM
WE won.......................................$4...... ...............................but spent $10 !

Obscured
01-07-2016, 12:44 PM
WE won.......................................$4...... ...............................but spent $10 !
Ha, ha! My ten buck investment saw a seven dollar return. Which I promptly re-invested.

Jackpot at $700,000,000 now. Should easily top a cool billion by Saturday night.

Scott Bails
01-07-2016, 01:11 PM
Should easily top a cool billion by Saturday night.

That is so crazy.

Seriously, I'm throwing a prog-fest if I win.

Shadow
01-07-2016, 03:02 PM
That is so crazy.

Seriously, I'm throwing a prog-fest if I win.

How bout fixing your football team.

Scott Bails
01-07-2016, 03:06 PM
How bout fixing your football team.

I'm just going to buy a house near whatever team is good each year. ;)

Dave (in MA)
01-07-2016, 03:37 PM
If I win I'm going to make Bruford an offer he can't refuse.

Of course, I'd have to buy a ticket first.

moecurlythanu
01-07-2016, 04:31 PM
I'm just going to buy a house near whatever team is good each year. ;)

Copying Ian Nogbad?

Scott Bails
01-07-2016, 04:54 PM
https://static1.fjcdn.com/thumbnails/comments/His+face+read+more+like+a+quot+damn+girl+quot+to+m e+_7b980a9b16ed3d68ac8d2b9bb9d6d9c6.jpg

Plasmatopia
01-07-2016, 05:17 PM
That is so crazy.

Seriously, I'm throwing a prog-fest if I win.

Just one? Tightwad....

Shadow
01-07-2016, 05:53 PM
I'm just going to buy a house near whatever team is good each year. ;)

Let me know what team that is ahead of time so I can pick them in Yahoo Pick-em.

Scott Bails
01-07-2016, 06:43 PM
Let me know what team that is ahead of time so I can pick them in Yahoo Pick-em.

Well, it's whoever the Ravens are playing, right? Isn't that who the NFL wants to win?

JKL2000
01-07-2016, 08:14 PM
I always ignore these things, but someone was taking a collection at work, so about 60 people are in for $10 each, including me. Wish me luck!

moecurlythanu
01-07-2016, 08:45 PM
The Nogbad comment was a joke, in case that wasn't screamingly obvious to everyone.

Lopez
01-08-2016, 08:29 AM
I got my ticket yesterday. I'm buying Myanmar when I win.

Scott Bails
01-08-2016, 08:29 AM
:lol

Obscured
01-08-2016, 12:33 PM
$800,000,000

Scott Bails
01-08-2016, 01:13 PM
Just bought tickets on behalf of my department at work, and bought $10 for myself. :)

BobM
01-08-2016, 03:58 PM
The odds of winning are so small you can't see them with a microscope. But where else are you going to get this entertainment for $2?

Scott Bails
01-08-2016, 04:18 PM
The odds of winning are so small you can't see them with a microscope. But where else are you going to get this entertainment for $2?

If I don't win, I'm rooting for this guy (http://ftw.usatoday.com/2016/01/las-vegas-man-500-million-powerball-prize-hookers-cocaine)to win. :lol

Shadow
01-08-2016, 04:21 PM
If I was a billionaire I would take a chance and box it.

Calabasas_Trafalgar
01-09-2016, 03:52 AM
Is there a cap on this? I figured it would reach a billion by now.

Obscured
01-09-2016, 11:26 AM
$$$ NINE HUNDRED MILLION $$$

NogbadTheBad
01-09-2016, 12:14 PM
The Nogbad comment was a joke, in case that wasn't screamingly obvious to everyone.

Well I got it :lol:up:ipa

KGHofSF
01-09-2016, 12:19 PM
Ack!! I'm in now. :p 5 tickets with the Powerplay.

(It is a Really Big Number )

Doin' my bit for the economy. :roll

Good luck to all players. . .

regards :ipa
KGH

tom unbound
01-09-2016, 05:34 PM
I'm in with $4.00 !
Powerball = lucky 13 !

-=RTFR666=-
01-09-2016, 07:21 PM
...and I've foregone happy hour at Boulders on Broadway to gets me 8 tickets for powerball, 4 tickets for megamillions (not realizing someone won Friday's jackpot - dammit, that's 2 more powerball chances I coulda had... :doh )

Obscured
01-09-2016, 11:22 PM
32 - 16 - 19 - 57 - 34 PB- 13

-=RTFR666=-
01-09-2016, 11:35 PM
O-M-F-G!

wasn't me...

JKL2000
01-09-2016, 11:41 PM
Am I rich beyond my wildest dreams yet?

Obscured
01-10-2016, 02:01 AM
Am I rich beyond my wildest dreams yet?
No. And neither am I. Or anybody else. Yet.

$$$$$ 1.3 BILLION $$$$$

tom unbound
01-10-2016, 08:45 AM
I'm in with $4.00 !
Powerball = lucky 13 !

I only had 16 and 13. [I]MUST TRY HARDER NEXT TIME [I]

Shadow
01-10-2016, 10:01 AM
I had: 19-27-32-52-58-13

I won $7 for getting half the numbers

Obscured
01-11-2016, 10:35 PM
One Point Four Billion. World's Largest Jackpot Ever.

BobM
01-12-2016, 08:13 AM
Is anyone a tax attorney here? What is the right thing to do once you win? OK, I know you get a great accountant, a great estate lawyer, and a great portfolio manager. But what are the strategies that can be employed to maximize what you get and keep and preserve it for your kids? I read that at the end, if you take the lump sum you actually wind up giving 67% of everything back to the government in taxes, one way or another.

Can you form a trust, or a corporation (maybe a non-profit) and have the trust/company accept the winnings?
Is that possible if you take the annuity payout?
If you die before receiving all of it the heirs have to pay tax on the entire sum, not just what you have received, so how to minimize that?
Can you quickly relocate to a non-income tax state before accepting the winnings or are you stuck paying 8% to NY if you are here now?

???Just planning ahead. Was wondering what CAN be done and how the laws work???

Plasmatopia
01-12-2016, 08:18 AM
As near as I can tell the best thing would be to already be rich. Those people seem to know how to avoid taxes.

BobM
01-12-2016, 09:06 AM
As near as I can tell the best thing would be to already be rich. Those people seem to know how to avoid taxes.

OK thanks for the advice. I will go out and get rich this afternoon before I buy my ticket. :horns

Shadow
01-12-2016, 09:26 AM
OK thanks for the advice. I will go out and get rich this afternoon before I buy my ticket. :horns

If you win you take the annuity, not the lump sum. Then figure out how you want to divide the winnings, some for a good friend or working partner. If they are single or have relatives you don't know or like put your name on their ticket so if they die before you the money reverts back to you. Then you cash the ticket and put the money in the bank and have a nice retired life with your family. You get a nice size check every year that you will probably never have to touch after the first year.

Scott Bails
01-12-2016, 09:39 AM
If you win you take the annuity, not the lump sum.

This is the first time I've ever heard someone suggest taking the annuity. I don't know enough about the tax implications to argue either way, but I always thought that the "conventional wisdom" was to take the lump sum.

tom unbound
01-12-2016, 09:41 AM
I'm buying 2 more tickets.

Shadow
01-12-2016, 09:58 AM
This is the first time I've ever heard someone suggest taking the annuity. I don't know enough about the tax implications to argue either way, but I always thought that the "conventional wisdom" was to take the lump sum.

If you take the lump sum and the economy bankrupts the next week all your money is gone. With the annuity the government still owes you the other 29 payments. If they won't pay then you start putting state properties on Ebay next year. Treat the lottery like taxes, the government won't let you off the hook for bankruptcy so don't let them.

Magic Mountain
01-12-2016, 10:00 AM
This is the first time I've ever heard someone suggest taking the annuity. I don't know enough about the tax implications to argue either way, but I always thought that the "conventional wisdom" was to take the lump sum.

Taking the annuity will likely guarantee you won't go broke like many other lottery winners do.

Magic Mountain
01-12-2016, 10:02 AM
Is anyone a tax attorney here? What is the right thing to do once you win? OK, I know you get a great accountant, a great estate lawyer, and a great portfolio manager. But what are the strategies that can be employed to maximize what you get and keep and preserve it for your kids? I read that at the end, if you take the lump sum you actually wind up giving 67% of everything back to the government in taxes, one way or another.

Can you form a trust, or a corporation (maybe a non-profit) and have the trust/company accept the winnings?
Is that possible if you take the annuity payout?
If you die before receiving all of it the heirs have to pay tax on the entire sum, not just what you have received, so how to minimize that?
Can you quickly relocate to a non-income tax state before accepting the winnings or are you stuck paying 8% to NY if you are here now?

???Just planning ahead. Was wondering what CAN be done and how the laws work???

This will answer some of your questions:

http://money.cnn.com/2016/01/08/pf/taxes/powerball-jackpot-tax-bill/index.html

Scott Bails
01-12-2016, 10:03 AM
If you take the lump sum and the economy bankrupts the next week all your money is gone. With the annuity the government still owes you the other 29 payments. If they won't pay then you start putting state properties on Ebay next year. Treat the lottery like taxes, the government won't let you off the hook for bankruptcy so don't let them.

How's that going to work out? If the government is bankrupt and won't pay, you're not going to get paid.


Taking the annuity will likely guarantee you won't go broke like many other lottery winners do.

This makes sense.

Magic Mountain
01-12-2016, 10:08 AM
The article that I linked to above was much more detailed a couple days ago. It pretty much said that there are laws in place in NY, in particular, that you can't move to another state, then cash in the ticket and avoid NY taxes. The article went further in saying that NY considers that if you purchase the ticket in NY, that if you win the winnings are considered NY income and are subject to NY taxes even if you live in another state. So if you live in another state and work in NY, make sure that you buy your ticket in your home state.

Plasmatopia
01-12-2016, 11:33 AM
A coworker mentioned that it's better to take the lump sum in case you were to die soon. Your relatives would be able to inherit based on the lump sum. With the annuity the future payments would be forfeited. Not sure if that's true or not.

Magic Mountain
01-12-2016, 11:53 AM
A coworker mentioned that it's better to take the lump sum in case you were to die soon. Your relatives would be able to inherit based on the lump sum. With the annuity the future payments would be forfeited. Not sure if that's true or not.

This is not true for the lottery annuity. However, it is true for some other annuities that you relinquish the remaining payments when you die. This allows insurance company to offer a higher monthly benefit on the upfront annuity premium.

The remaining annuity payments from a lottery become part of your estate. The problem that I could see arising is that there is an inheritance tax for amounts above a lifetime deduction of $5.45M and I believe that it is a flat 40%. Your heirs theoretically may not have enough money to foot the inheritance tax, if the annuity payments haven't been distributed yet. However, from the statement below, they will let your heirs cash out the annuity to pay the inheritance taxes.

From the Powerball website:

The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind.

Plasmatopia
01-12-2016, 12:05 PM
This is not true for the lottery annuity. However, it is true for some other annuities that you relinquish the remaining payments when you die. This allows insurance company to offer a higher monthly benefit on the upfront annuity premium.

The remaining annuity payments from a lottery become part of your estate. The problem that I could see arising is that there is an inheritance tax for amounts above a lifetime deduction of $5.45M and I believe that it is a flat 40%. Your heirs theoretically may not have enough money to foot the inheritance tax, if the annuity payments haven't been distributed yet. However, from the statement below, they will let your heirs cash out the annuity to pay the inheritance taxes.

From the Powerball website:

The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind.

Interesting! Thanks for posting that. That might make the decision of lump sum or annuity more difficult. Probably not something I will have to deal with. :)

BobM
01-12-2016, 12:15 PM
So maybe the correct strategy is to take the annuity, then put you, your wife, and each kid on the ticket separately. Your estate tax bill will only be 1/4 of the whole for a family of 4 if one of you dies prematurely.

Now the real tough question is ... would you give any of it away to your brother, or sister in law, or etc? I have a brother in law who would likely badmouth me if I only gave him $1mill, saying I'm cheap and I should share more than that. In all likelihood I will give him nothing and say goodbye for life. My wife agrees.

JKL2000
01-12-2016, 12:28 PM
One of my coworkers said we would take the lump sum, because in some state recently (forget which one), they were unable to make the payments to lottery winners because the state was bankrupt. I can't remember which bankrupt state that was.

My work group won $44 last week! 80 cents per person. Whoo-hoo!

Jerjo
01-12-2016, 01:08 PM
It was Illinois that was defaulting on lottery payments.

Obscured
01-12-2016, 01:22 PM
$$$$$ ONE AND A HALF BILLION $$$$$
Lump sum = approx. $930,000,000; I'm good with that.

Scott Bails
01-12-2016, 01:26 PM
Advice from Mark Cuban, fwiw. (http://theweek.com/speedreads/598794/billionaire-mark-cuban-some-advice-whoever-wins-14-billion-powerball-lottery)

Shadow
01-12-2016, 02:30 PM
Advice from Mark Cuban, fwiw. (http://theweek.com/speedreads/598794/billionaire-mark-cuban-some-advice-whoever-wins-14-billion-powerball-lottery)

You can buy a Mavs ticket for $10. What world does he live in.

Scott Bails
01-12-2016, 03:25 PM
You can buy a Mavs ticket for $10. What world does he live in.

The real world, apparently. (http://www.mavs.com/tickets/single-game-tickets/)

You should vacation there, Ed! :lol

moecurlythanu
01-12-2016, 04:15 PM
The real world, apparently. (http://www.mavs.com/tickets/single-game-tickets/)

You should vacation there, Ed! :lol

He'd have to learn a whole new language. ;)

Shadow
01-12-2016, 04:50 PM
The real world, apparently. (http://www.mavs.com/tickets/single-game-tickets/)

You should vacation there, Ed! :lol

I think you have to bring your own bucket to sit on for those seats.

WHORG
01-13-2016, 04:49 PM
My high school English teacher won the NY State Lottery in the early 80's($32M). She opted for the 20 year payout . . . and after-taxes, was about $82,000 per month for 20 years. She immediately hired an accountant and attorney to protect herself, etc.

She set up various accounts, trusts and investments over the years . . . and has now quadrupled that easily. We helped her move when we were in high-school (1976) as her (then) husband walked out on the marriage, leaving her with twin baby girls . . . she divorced him through the proper/legal channels, and he was denied any financial support at the time she won that lottery.

At this time - she lives in the Catskills where she owns a horse ranch and a large greenhouse/floral business there . . . and remains a writer. She never forgot how we stood by her side in high school and helped her through that very rough time . . . and has rewarded us all with some very nice things over the years. I swing by her place on the drive up to my Mom's house every year, and she still cooks her vegan meals to perfection. Never one to live beyond her means - and never re-married.

Funny story - she never actually knew she won the lottery until a few weeks after the announcement - when the commission published the alert & plea in the NY Times: stating that somebody won in that geographic area, and the prize unclaimed. At that time - she walked over to a bookshelf and pulled "Cat's Cradle", where the ticket was placed weeks prior - to discover her fortune. She had everyone come over to her cabin for a small party that weekend, where she announced it to our group.

Shadow
01-13-2016, 07:18 PM
https://scontent-mia1-1.xx.fbcdn.net/hphotos-xal1/v/t1.0-9/12524314_916455491795126_4004438980829012275_n.jpg ?oh=7a9cd6672762823ee6f61ef813c11a2f&oe=5701AB88

Obscured
01-13-2016, 11:02 PM
8, 27, 34, 4, 19 - 10

Gruno
01-14-2016, 01:10 AM
One winning ticket bought in Chino Hills, CA, about 15 minutes from me…

Every local news station is broadcasting live from there and the 7-11 (convenience store) is being bombarded. It's a mad house. A mad house!

tom unbound
01-14-2016, 06:24 AM
:up
https://scontent-mia1-1.xx.fbcdn.net/hphotos-xal1/v/t1.0-9/12524314_916455491795126_4004438980829012275_n.jpg ?oh=7a9cd6672762823ee6f61ef813c11a2f&oe=5701AB88

Scott Bails
01-14-2016, 08:41 AM
I didn't win.

Progfest cancelled. :(

NogbadTheBad
01-14-2016, 08:52 AM
Guess we all went back to work, right?

BobM
01-14-2016, 11:26 AM
I won ... $4.

Until next time folks

Supersonic Scientist
01-14-2016, 12:40 PM
Imagine my heart-jumping moment when, on one ticket, I had the first two numbers....then squat!!!

Lopez
01-14-2016, 01:13 PM
How do I tell the government of Myanmar that I will not be buying their country? Oh, the humanity!

Obscured
01-14-2016, 01:37 PM
http://www.aol.com/article/2016/01/14/California-lottery-says-it-has-a-winner-in-historic-$1.5-billion-Powerball-jackpot/21296984/

3 winning tickets. *One ticket was sold at a 7-Eleven convenience store in Chino Hills, east of Los Angeles, officials said. Two other winning tickets were sold in Munford, Tennessee, and Melbourne Beach, Florida, lottery officials in those states said.*

The next Powerball drawing, this Saturday, Jan. 16th, has a top prize of $40,000,000. Meh.

Dave (in MA)
01-15-2016, 12:41 PM
I had a bad feeling about not winning, so I didn't play. Looking at the winning number, that's probably not the number I would have picked, so I guess I was right.

Jerjo
01-15-2016, 12:51 PM
The wife in the family that won in Tennessee says she's going to continue working "because she loves her job". Meanwhile hundreds of millions of Americans are heard to say, "give me your ticket bitch".

Shadow
01-15-2016, 01:28 PM
The wife in the family that won in Tennessee says she's going to continue working "because she loves her job". Meanwhile hundreds of millions of Americans are heard to say, "give me your ticket bitch".

Who is dumb enough to show themselves and come forward this soon.

Scott Bails
01-15-2016, 01:41 PM
Who is dumb enough to show themselves and come forward this soon.

I didn't get to see the segment, but there was supposed to be a couple on the Today show this morning who hadn't even contacted the lottery authorities to verify their ticket (might be whom Jerjo was referring to). They showed a quick clip of the woman supposedly calling her boss, saying that she wouldn't be in work, and that her boss should just watch the Today show.

I was flabbergasted.

Shadow
01-15-2016, 03:53 PM
I didn't get to see the segment, but there was supposed to be a couple on the Today show this morning who hadn't even contacted the lottery authorities to verify their ticket (might be whom Jerjo was referring to). They showed a quick clip of the woman supposedly calling her boss, saying that she wouldn't be in work, and that her boss should just watch the Today show.

I was flabbergasted.

I hope the dog eats her ticket.

-=RTFR666=-
01-15-2016, 04:33 PM
:rofl

http://www.inquisitr.com/2710296/biggest-powerball-loser-begs-public-for-money-gofundme-page-set-up-after-losing-life-savings-on-tickets/

Obscured
02-26-2016, 03:03 PM
Powerball- $266,000,000 up for grabs tomorrow.
Mega Millions = $125,000,000 tonight.

Not going to spend "Go Fund Me" money, but will throw a twenty down between the two draws.

Shadow
02-26-2016, 07:11 PM
Powerball- $266,000,000 up for grabs tomorrow.
Mega Millions = $125,000,000 tonight.

Not going to spend "Go Fund Me" money, but will throw a twenty down between the two draws.


https://www.youtube.com/watch?v=leqHnUM64HU

Obscured
02-28-2016, 10:44 AM
No winners this weekend; $135 & 292 million up for grabs Tues-Wed. I got 3 of 5 last night; $7-, that's it? What a rip-off. Especially when I played 8 dollars on the PB.
Pppppffffffffffftttttttttttttttttt..........

Obscured
04-25-2016, 01:02 PM
Wednesday's Powerball = $282,000,000
Tuesday's Megaball = $108,000,000

I shall settle for the hundred eight million if I have to.

Yodelgoat
04-25-2016, 01:34 PM
I'm wondering how many people who win the lottery, actually do what they say they would do. I have only known 2 lottery winners in my life. My brother won 25K - and has proceeded since then to spend anther 50K on lotto tickets. He never shared a single penny of the winnings. I dont blame him, its just a fact. The second was I helped a family who had won 5 million move out of their modest home. They were getting divorced and had already spent the 5 million on totally dumb stuff. As I was volunteering to help them move (kind of an aquatint of an aquatint situation) I didnt even get offered a sprite, or even a glass of water for my help.

I think either you are a covetous, tightfisted a-hole, or you're not. Money didnt really change these people, it just allowed them to act out they're covetousness. The husband and wife couldn't stand being in the same room with each other, and their kids (5 and 12 years old) were obviously miserable.

Money doesnt buy happiness, it just buys you your true hearts desire. I dont play the lottery, because I couldn't deal with what the world would throw at me if I ever won. Plus, I have enough losing in my life already. You are more likely to Sh^t a million dollars as you are likely to win the lottery. - Maybe thats not true, but since I dont play, I cant dream of winning, but I have plenty of other achievable dreams. That Olympic Gold medal in the 400 meter individual medley is also kind of out of reach, but I keep on swimming anyway.

I just dont think I was cut out to be a lottery winner.

Obscured
04-30-2016, 11:34 AM
$314,000,000 Powerball drawing tonight.

Scott Bails
04-30-2016, 02:37 PM
$314,000,000 Powerball drawing tonight.

Just bought some tix. Fingers crossed. :)

Obscured
04-30-2016, 11:47 PM
Just bought some tix. Fingers crossed. :)
3-12-16-32-34 + 14

Well, I hafta go to work Monday.

Edit- No winner. $348,000,000+ on Wed.

Obscured
05-05-2016, 01:41 AM
$415,000,000

nycsteve
05-06-2016, 06:41 PM
MINE!! I call dibs.

Obscured
05-08-2016, 12:35 AM
5, 25, 26, 44, 66 + 9

I got 1# & the powerball, netting me a cool $4; which is the same amount one wins with just having the powerball. (???) So a $6- loss on my ten spot investment.
Yesterday I won $3 on a five dollar ticket from the Megamillions draw. $8 in the hole this weekend. I had those hundred millions spent.

Obscured
06-17-2016, 11:08 AM
$310,000,000 up for grabs tonight.

Obscured
06-18-2016, 12:50 PM
No winner. Tuesdays draw is now 1/3 Billion.

Obscured
06-29-2016, 01:50 AM
No winner yet again. Friday's Mega Millions jackpot is now at $415,000,000. Better believe I get pg to sing "Selling England..." when I win!

Obscured
07-04-2016, 12:29 PM
Tomorrow's jackpot is $449,000,000.

Shadow
07-06-2016, 09:01 AM
Missed it by six numbers. Half a billion plus.

Jerjo
07-06-2016, 09:13 AM
Powerball is building up as well. If it doesn't have a winner tonight you're going to see a massive amount of tickets sold for this weekend.

Facelift
07-06-2016, 11:06 AM
I did not win the jackpot last night.

I did win $8 in parting gifts.

That still leaves me with a net loss of $12.

Obscured
07-06-2016, 11:08 AM
Powerball is building up as well. If it doesn't have a winner tonight you're going to see a massive amount of tickets sold for this weekend.
Yep. $508 million up for grabs on Friday, $254,000,000 tonight.
Lots of dreams can be made realities. One only has to win and survive the heart attack.

Shadow
07-06-2016, 12:38 PM
One only has to win and survive the heart attack.

Don't you mean hard on attack.

Obscured
07-09-2016, 10:40 AM
8, 19, 20, 55, 73 + 5
One winner in IN. Checking my ancestry charts for possible relatives there...

I had the 8, 19, 20 and won a whopping $5! More than 1/2 the #'s should get me more than 5 bucks. Especially when I played $10. Ppppffffffffftttttttt...........

Tonight's Powerball jackpot is a paltry $288 million. Hardly worth playing.

Facelift
07-09-2016, 03:47 PM
8, 19, 20, 55, 73 + 5
One winner in IN. Checking my ancestry charts for possible relatives there...

I had the 8, 19, 20 and won a whopping $5! More than 1/2 the #'s should get me more than 5 bucks. Especially when I played $10. Ppppffffffffftttttttt...........

Tonight's Powerball jackpot is a paltry $288 million. Hardly worth playing.

Non-Jackpot prize distributions on Mega and Powerball are hilariously slanted against the player. If you're interested in fairer odds on smaller payouts, I would suggest playing the scratch-offs. The odds of prizes in the $2-$100 range are much better - more in line with a slot machine (which is essentially what scratch-offs are). The terrible rates of return on the big multi-state lotteries exists because of the gargantuan jackpots, which you aren't going to win anyway.

The Dark Elf
07-09-2016, 05:15 PM
The terrible rates of return on the big multi-state lotteries exists because of the gargantuan jackpots, which you aren't going to win anyway.

But somewhere in the Heartland tonight, a Hoosier is getting laid.

moecurlythanu
07-09-2016, 07:29 PM
But somewhere in the Heartland tonight, a Hoosier is getting paid.

Fixed it for ya. ;)

Shadow
07-09-2016, 11:52 PM
Fixed it for ya. ;)

I think both.

Facelift
07-10-2016, 12:53 AM
I think both.

I'm pretty sure that's been a rhyme in a rap song.

Shadow
07-10-2016, 07:26 AM
I'm pretty sure that's been a rhyme in a rap song.

Or a Johnny Cash prison song.

Scott Bails
07-10-2016, 07:11 PM
Meanwhile, the Powerball is now up to $311 Million. :)

Obscured
07-20-2016, 12:56 PM
$361,000,000 tonight.
Edit- No winner. Saturday's draw is for $390,000,000+

Obscured
07-24-2016, 01:41 AM
422 million
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Shadow
07-24-2016, 10:01 AM
You would have thought at least one person would have hit at least one million.

Obscured
11-20-2016, 06:16 PM
:: Opens door, enters room::

Wednesday's Powerball jackpot = $359,000,000.

::Leaves room, shuts door::

Scott Bails
11-21-2016, 10:06 AM
Bought tix for last Saturday's drawing. Obviously didn't win. ;)

So, I guess I'm in again for Wednesday's drawing. That would be one helluva thing to be thankful for. :)

Mr. Toad
11-22-2016, 12:24 PM
Got my ticket. If I win, there will be NEARfest again. And I may even let some of you pick a band.

Obscured
11-24-2016, 01:00 PM
$403,000,000 up for grabs on Wednesday.

Obscured
02-16-2017, 09:11 PM
Yep, 'bout that time again...Saturday's Powerball jackpot is now $349 million. Good luck everyone!

Obscured
02-19-2017, 10:38 AM
No winner last night. $403 million+ for Wednesday's draw.

Jerjo
06-01-2017, 03:53 PM
PB is over the 300 million mark. They'll be selling a lot of tickets the next few days.

Obscured
06-04-2017, 12:33 AM
3, 9, 21, 41, 54 + 25

I have to go to work this week. :(

Obscured
06-04-2017, 08:08 PM
Wednesday's jackpot = $375,000,000.it

Jerjo
06-04-2017, 08:19 PM
I remember back in cubicle slave days, collecting for our department lottery pool. We'd play in times like this when the jackpot got high enough that dividing it between a dozen people would still mean instant retirement.

One guy, a cynical sonovabitch if there ever was one, said, "You know that playing the lottery is gambling for people that don't understand statistics."

Me, "Yeah, but do you want in."

SOB, "Oh hell yes, I'm not going to be left behind when you all yell 'fuck off' as you're going out the door"

Obscured
06-08-2017, 01:51 AM
$435,000,000.

tom unbound
06-08-2017, 07:34 AM
OK, that does it, I'm buying a ticket now. Well, maybe two...

JKL2000
06-11-2017, 09:59 PM
Did one of you guys win?

Obscured
06-11-2017, 11:28 PM
Did one of you guys win?
Not I.

http://abc7ny.com/news/1-winning-powerball-ticket-sold-in-california-worth-$447-million/2083275/

Obscured
07-31-2017, 04:58 PM
BUMP BUMP

Megaball tomorrow = $303,000,000
Powerball Wednesday = $261,000,000

Obscured
08-17-2017, 01:53 AM
Powerball -
NEXT DRAWING: 08/19/2017 - JACKPOT: $510 MILLION

JKL2000
08-17-2017, 11:49 AM
I've never bought tickets for this. When you do, how much do you spend? How much is one ticket? Do you just get random numbers or do you choose numbers?

Scott Bails
08-17-2017, 02:53 PM
I've never bought tickets for this. When you do, how much do you spend? How much is one ticket? Do you just get random numbers or do you choose numbers?

Powerball tickets are $2 per number - not each "ball," but for each group of numbers you purchase. So, for $2, you get to play once. I usually spend $10 when I play, to get five chances. I always get random numbers, as it's just quicker and easier, but you can pick your own numbers, if you like.

JKL2000
08-17-2017, 05:36 PM
Powerball tickets are $2 per number - not each "ball," but for each group of numbers you purchase. So, for $2, you get to play once. I usually spend $10 when I play, to get five chances. I always get random numbers, as it's just quicker and easier, but you can pick your own numbers, if you like.

You're much more likely to win if you pick the numbers yourself!

moecurlythanu
08-17-2017, 06:18 PM
You're much more likely to win if you pick the numbers yourself!

I don't see why. Either way, you're hoping for lightning to strike twice in the same place. I expect the odds are the same either way.

JKL2000
08-17-2017, 09:02 PM
I don't see why. Either way, you're hoping for lightning to strike twice in the same place. I expect the odds are the same either way.

I was just joking. Yeah, the odds are the same whatever the numbers.

Obscured
08-19-2017, 12:48 AM
Up to $535,000,000.

I have invested $20. 10 for my personal numbers; an assortment of birthdays and ages and address' and random numbers I spotted in random places. The other 10 were for quick picks I bought a month or so ago that haven't won so I keep replaying them. I have a real good feeling regarding the upcoming draw...again.

rcarlberg
08-19-2017, 06:44 AM
You would have thought at least one person would have hit at least one million.My mother used to say, "Lotteries are a tax on the math-illiterate."

Jerjo
08-19-2017, 07:33 AM
My mother used to say, "Lotteries are a tax on the math-illiterate."

Once, in cubicle farm that I used to work in, a group of us would pool our dollars for the Powerball whenever it got into the ridiculous category. I was collecting for it once and one coworker said, "it's gambling for those who don't understand statistics." I said, "but do you want in?" "Oh hell yes, I'm not going to be the only one left if you actually did win."

NogbadTheBad
08-19-2017, 09:10 AM
It should be treated as a bit of fun with discretianary loose cash. I'm in.

Obscured
08-19-2017, 11:23 PM
$541.9 million:
The winning numbers for Saturday were: 17-68-19-43-39 Powerball: 13

rcarlberg
08-19-2017, 11:43 PM
It should be treated as a bit of fun with discretianary loose cash. I'm in.That's exactly what they want you to think.

Your chances of winning money at a casino vary according to the game. For Blackjack, if you're an expert player who makes zero mistakes, it's about 49%. In other words the house wins the other 51% of the time, over the long span. Meaning, no matter how well you play, or how long you play, you're going to end up losing more than you win in the long run. It's a fool's gamble (ever seen a casino go bankrupt from paying out too much in winnings???)

The slot machines are for the truly stupid, with about 10% return (the house wins 90% of the time).

By contrast here are the Powerball odds: Grand Prize = 1 in 292,201,338.00
Win $1,000,000 = 1 in 11,688,053.52
Win $50,000 = 1 in 913,129.18
Win $100 = 1 in 14,494.11
Win $7 = 1 in 579.76
Win $4 = 1 in 91.98
The overall odds of winning a prize, any prize in Powerball are 1 in 24.87, or 4.02%.

Obscured
08-20-2017, 12:52 AM
No winner, $650+ Million next draw; Wednesday, August 23.

NogbadTheBad
08-20-2017, 08:14 AM
That's exactly what they want you to think.

Your chances of winning money at a casino vary according to the game. For Blackjack, if you're an expert player who makes zero mistakes, it's about 49%. In other words the house wins the other 51% of the time, over the long span. Meaning, no matter how well you play, or how long you play, you're going to end up losing more than you win in the long run. It's a fool's gamble (ever seen a casino go bankrupt from paying out too much in winnings???)

The slot machines are for the truly stupid, with about 10% return (the house wins 90% of the time).

By contrast here are the Powerball odds: Grand Prize = 1 in 292,201,338.00
Win $1,000,000 = 1 in 11,688,053.52
Win $50,000 = 1 in 913,129.18
Win $100 = 1 in 14,494.11
Win $7 = 1 in 579.76
Win $4 = 1 in 91.98
The overall odds of winning a prize, any prize in Powerball are 1 in 24.87, or 4.02%.

I did already know all that. It's still a bit of fun. There's lots of things I buy which are for fun and don't last very long.

rcarlberg
08-20-2017, 09:32 PM
Powerball tickets aren't something you "buy." It's a gift to the Lottery, with nothing in return.

Just sayin'.

moecurlythanu
08-20-2017, 11:39 PM
Powerball tickets aren't something you "buy." It's a gift to the Lottery, with nothing in return.

Just sayin'.

And you would be wrong. (Imagine that.) You buy a chance. Not a good chance, but a chance. And it's $2. Two fucking dollars. If you have to worry about that much money, then yes, you shouldn't play the Powerball. For the rest of us, surf's up...

JKL2000
08-21-2017, 05:57 PM
That's exactly what they want you to think.

Your chances of winning money at a casino vary according to the game. For Blackjack, if you're an expert player who makes zero mistakes, it's about 49%. In other words the house wins the other 51% of the time, over the long span. Meaning, no matter how well you play, or how long you play, you're going to end up losing more than you win in the long run. It's a fool's gamble (ever seen a casino go bankrupt from paying out too much in winnings???)

The slot machines are for the truly stupid, with about 10% return (the house wins 90% of the time).

By contrast here are the Powerball odds: Grand Prize = 1 in 292,201,338.00
Win $1,000,000 = 1 in 11,688,053.52
Win $50,000 = 1 in 913,129.18
Win $100 = 1 in 14,494.11
Win $7 = 1 in 579.76
Win $4 = 1 in 91.98
The overall odds of winning a prize, any prize in Powerball are 1 in 24.87, or 4.02%.

Overall I agree, but at the preshow for CTTE 2015 (which was at a casino in Miami) I played a slot machine twice and won $80 on the second game. I stopped right there!

markwoll
08-21-2017, 07:24 PM
And then there was this story about a computer programmer for the company that deal with many of the multi-state games.
He plead guilty to planting software that let him ( and family members and associates ) manipulate lottery outcomes for several years.
The company had placed him in the position of maintaining security...
https://en.wikipedia.org/wiki/Hot_Lotto_fraud_scandal
I guess the good news is the states are retiring that game and moving to a new one.
You can't win if you don't play!

Obscured
08-22-2017, 12:28 PM
$700,000,000

Facelift
08-22-2017, 01:19 PM
$700,000,000

Yeah. I want that.

Facelift
08-22-2017, 01:21 PM
Powerball tickets aren't something you "buy." It's a gift to the Lottery, with nothing in return.

Just sayin'.

You do realize that there are prizes other than the jackpot and that many people win them, right?

Obscured
08-22-2017, 11:31 PM
You do realize that there are prizes other than the jackpot and that many people win them, right?

That's correct! Last draw had-

8 SECOND-PRIZE WINNERS OF $1,000,000.00 (TICKETS SOLD IN : CA,FL,MO,NC,NJ,PA)
2 SECOND-PRIZE WINNERS OF $2,000,000.00 (TICKETS SOLD IN : SC,TN) *Power Play winners, you have to pay an additional $1.00 per game.

And in NY alone there were 6 $50,000 winners; 39 $400, 906 $100, 1500 $28, 18,450 $16 AND over 380,000 $4-7 winning tickets.

( http://nylottery.ny.gov/wps/portal/Home/Lottery/home/your+lottery/drawing+results/drawingresults_powerball )

rcarlberg
08-23-2017, 12:00 AM
1 in 24.87.

Not saying you can't play for fun. Just saying players tend to think there's a better chance of winning than there really is.

Obscured
08-23-2017, 12:31 AM
1 in 24.87.

Not saying you can't play for fun. Just saying players tend to think there's a better chance of winning than there really is.
Player's don't care about the odds. They know they have a chance. Playing gives one better odds than not playing.

Scott Bails
08-23-2017, 10:23 AM
Just saying players tend to think there's a better chance of winning than there really is.

Only the ones who know nothing about it. Whenever the pot gets this big, the odds are always part of the story.

Obscured
08-23-2017, 11:58 PM
$758.7 million- 6, 7, 16, 23, 26 and Powerball 4.

Winner in Massachusetts.

Scott Bails
08-24-2017, 09:21 AM
Sigh...


https://www.youtube.com/watch?v=whnn9ReUV04

rcarlberg
08-25-2017, 08:07 PM
Playing gives one better odds than not playing.Statistically speaking, of course, that's not true. A one-in-292 million chance is still for all intents and purposes zero. :roll

Here's a figure the lottery people don't like to advertise: how much of the money they take in is paid out in prizes?

To begin with, the "prize pool" is only 50% of sales -- therefore HALF OF ALL SALES is pure profit.

Regarding the other half, the prize money is allocated according to how many numbers are matched, ranging from 68.0131% for the jackpot, to 0.9981% for the 2 + 1 winners. Therefore the grand prize winner takes home a little over 34% (68% of half) of the funds taken in -- assuming someone wins. They generally don't. When they don't, the prize money is rolled over to the next drawing. Incidentally, only the actual jackpot winner draws from sales nationally. All other winners must be paid out of the 44 states individual lottery sales -- meaning some payouts can be less than advertised.

NogbadTheBad
08-25-2017, 08:15 PM
You do admit that someone won, right?

moecurlythanu
08-25-2017, 08:30 PM
Statistically speaking, of course, that's not true. A one-in-292 million chance is still for all intents and purposes zero. :roll


You're not a math major, are you? 1 in 292 million is a better chance than 0 in 292 million. Statistically speaking, of course. Ask Mavis if she thinks she had a better chance than someone who didn't buy a ticket. I bet her reaction would be priceless.

The Dark Elf
08-26-2017, 08:44 AM
And as the airplane loses its last engine and plummets from the sky, a passenger was heard to say, "damn I should have played the lottery."

Facelift
08-26-2017, 02:10 PM
Statistically speaking, of course, that's not true. A one-in-292 million chance is still for all intents and purposes zero. :roll

Correct. However, spending $10-$20 on it a few times a year seems like as harmless and cheap a form of entertainment as anything else. The money spent on the lottery is as irretrievably gone as any other dollars spent on an experience. But in this case, you just might win a life-changing amount of money. Can't get that from a King Crimson concert. And if you did, Robert Fripp would lock the doors of the venue and steal it from you, anyway.


Here's a figure the lottery people don't like to advertise: how much of the money they take in is paid out in prizes?

To begin with, the "prize pool" is only 50% of sales -- therefore HALF OF ALL SALES is pure profit.

Not correct. You either are assuming that the lottery has zero operating costs, or don't understand the concept of profit.

Second, you have the facts wrong. Depending on the game, as much as 75% of the take goes to winners. In the case of Powerball, which is the game currently being discussed, 60% is paid out to prize winners.

Depending on the game, 10-20% is sent back to the states in the form of tax revenue, which is typically spent on education.

Is this an inefficient way of raising tax revenue? Yes.
Is this a regressive tax (the least equitable form of taxation)? Yes.

Nevertheless, has the lottery provided states with billions of dollars of revenue which, but for the lottery, would have to be raised in another manner? Yes.

BobM
08-27-2017, 01:09 AM
Everyone has a plan for a $5-10 million win. A nice house or two, a fine car or two, vacations, better wine, flying first class, etc.

But what would you do with $400 million in hand? It's so incomprehensible. I would say, put $100 million aside for all future living expenses for you and your kids and their kids. Then start a foundation with the other $300 million and keep yourself busy doling out that money for some good causes that touch your heart. Maybe hobnob with Bill Gates and help his charity.

Facelift
08-27-2017, 02:47 AM
But what would you do with $400 million in hand? It's so incomprehensible. I

First and foremost would be a gold house.

Obscured
12-29-2017, 02:01 AM
Tonight's Mega Millions jackpot is $306,000,000.
Saturday's Powerball jackpot is $384,000,000.

(Remember to wait till after New Year's to claim your winnings so you have a whole year to worry about the taxes.)

Obscured
01-05-2018, 10:00 AM
Tonight's Mega Millions jackpot is $445,000,000.
Tomorrow's Powerball jackpot is $550,000,000.

:O

Edit- 450 / 570 million up for grabs now and rising.

Jerjo
03-14-2018, 01:05 PM
We are getting into crazy numbers again. PB is 420 and MM is 345

rcarlberg
03-14-2018, 01:19 PM
Funny thing is, as the size of the jackpot goes up your odds of winning actually go down.

Is it harmless fun? I guess it beats risking clogging your sewer by flushing $10 bills.

Scott Bails
03-14-2018, 01:24 PM
Funny thing is, as the size of the jackpot goes up your odds of winning actually go down.


You're going to have to explain this one.

Jerjo
03-14-2018, 01:29 PM
A friend once said, "it's gambling for people who don't understand statistics". Nonetheless, a $2 ticket is a pretty harmless fantasy. And I always love those office/workplace pools that some times win. I used to be in one in a wretched health insurance company and people took it quite seriously as their only way out. The numbers had been crunched and ran through the tax percentages, the number of people in the pool, return on Treasury bonds, etc and there was an established point in the jackpot where we'd dive in because a win would mean walking off the job with enough to retire or start anew. It was referred to by everyone in the pool as the FU point. We never won but it was fun.

NogbadTheBad
03-14-2018, 01:32 PM
You're going to have to explain this one.

The only way I think that works is that the probability of multiple winners goes up due to the surge in ticket purchases so would you rather be the sole winner of $150MM or split $500MM with 5 people?

NogbadTheBad
03-14-2018, 01:33 PM
A friend once said, "it's gambling for people who don't understand statistics". Nonetheless, a $2 ticket is a pretty harmless fantasy. And I always love those office/workplace pools that some times win. I used to be in one in a wretched health insurance company and people took it quite seriously as their only way out. The numbers had been crunched and ran through the tax percentages, the number of people in the pool, return on Treasury bonds, etc and there was an established point in the jackpot where we'd dive in because a win would mean walking off the job with enough to retire or start anew. It was referred to by everyone in the pool as the FU point. We never won but it was fun.

This is exactly my approach. Given my current age the number is pretty low :)

Scott Bails
03-14-2018, 01:34 PM
The only way I think that works is that the probability of multiple winners goes up due to the surge in ticket purchases so would you rather be the sole winner of $150MM or split $500MM with 5 people?

That's not what he said, though. He said "the odds of winning go down."

Lou
03-14-2018, 02:01 PM
That's not what he said, though. He said "the odds of winning go down."

Your odds of winning are the same regardless of how many people play.

Scott Bails
03-14-2018, 02:03 PM
Your odds of winning are the same regardless of how many people play.

Or how big the jackpot gets.

It's the same game, regardless.

rcarlberg
03-14-2018, 02:29 PM
You're going to have to explain this one.You’re right, I should have said “your odds of winning the jackpot.” More players = bigger chance of sharing any and all prizes.

But still minuscule.

Camelogue
03-14-2018, 03:31 PM
I threw my $2 into the pool.

rcarlberg
03-14-2018, 05:05 PM
I threw my $2 into the pool.
Next time send your money to me. I'll give you BETTER odds -- hell, I'll go 200 million to one -- that you'll get your money back!!!

Tangram
03-30-2018, 11:55 AM
Here we go again. MegaMillions is over $500 million. Time for a donation and some smiles...until i find out i didn't win

rcarlberg
03-30-2018, 12:38 PM
Last weekend This American Life (https://www.thisamericanlife.org/306/seemed-like-a-good-idea-at-the-time) ran an interesting story on the cast of Riverdance pooling together to buy something like 450 tickets to MegaMillions. They made all sorts of plans how they would collect the winnings, who would administer the funds, how they would be divided and what each person would do with their money.

It's worth a listen.

Tangram
07-24-2018, 12:30 PM
It's that time again. MegaMillions at 493,000,000. That could cover the rent and a few other things...

rcarlberg
07-24-2018, 12:35 PM
It's that time again. MegaMillions at 493,000,000. That could cover the rent and a few other things...


But what would you do with $400 million in hand? It's so incomprehensible. I would say, put $100 million aside for all future living expenses for you and your kids and their kids. Then start a foundation with the other $300 million and keep yourself busy doling out that money for some good causes that touch your heart. Maybe hobnob with Bill Gates and help his charity.

You could buy yourself a presidency?

Buddhabreath
07-24-2018, 02:23 PM
I would create an organization to buy and run radio stations in a major markets, create a record label, promote tours, fund a killer festival and generally shove prog rock down the public's f*cking throats. ;-)

Steve F. would be CEO at a heftly salary with a full staff so he can kick back and bark out orders, I would sit on the board along with Dweezil Zappa, Andy Lattimer, Peter Hammill, Peter Gabriel, Rick Wakeman (for comic relief and ice-show consulting) and a few other selected odds and sods...

rcarlberg
07-25-2018, 08:00 AM
Reminds me of the old joke, "How do you become a millionaire?"

Start with $2 million, then create a record label....

Buddhabreath
07-25-2018, 09:08 AM
^^^
LOL, yes with plans like that I would burn through that money fast...

Shadow
07-25-2018, 09:31 AM
Looks like someone in California won. I guess that's why California is the most profitable state in the nation. I guess the illegals are doing something right.