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Car salesmen lottery pool wins $16 million jackpot

Topic closed. 56 replies. Last post 11 years ago by RJOh.

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Litebets27's avatar - power
Maryland
United States
Member #10465
January 14, 2005
6065 Posts
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Posted: August 10, 2005, 12:11 pm - IP Logged

I really wish that the media would stop turning this story into a bad thing about dan he is a great guy that does not deserve this. he is sad enough without everyone asking him how it feels. the only reason he dident play is because he did not have the 50.00 on him. that was the first time we ever played together and we were lucky enough to win. we played with 50.00 because we figured that we had more chances of winning. It was the same thinking as if we went to a high class restaurant: you do it once in a great while, but you dont do it often.  And no one is retiring just taking a couple of weeks off!

Welcome to the site and congratulations Pontiacsales and to your pool mates Wtg. When I ran a pool at work for a Mega million draw, one of my co-workers thought I was being mean to her, when she would not participate by putting up $1.00, but asked everyone if we won would we share with her, and I said "no". We did not win, but if we had it would have been her loss. I feel sorry for Dan, but it was his choice to not put up. LOL to him the next time he has that decision to make.

litebets

 

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23273 Posts
    Online
    Posted: August 10, 2005, 12:16 pm - IP Logged

    thanks everyone,  im still sitting here trying to figure out how 16 mil. came out to 1.68 each. and how much more the irs is going to take? however, its still going to buy me a house. at 30 and no house payment is going to be nice. I promised a pizza party for everyone at chucky cheese if i won so i am going to play lots of skiball. thanks again.

    The $16 Million becomes $8 Million when you take the Cash Option, then Uncle Sam takes 25% Federal of the $8 Million, plus Illinois takes an additional 3%.

    Don't forget you'll probably owe a little more at the end of the year, depending on how many charitable contributions and such that you make.

     

    Check the State Lottery Report Card
    What grade did your lottery earn?

     

    Sign the Petition for True Lottery Drawings
    Help eliminate computerized drawings!


      United States
      Member #14188
      April 22, 2005
      21 Posts
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      Posted: August 10, 2005, 3:11 pm - IP Logged
      To all on the forum:  If one wins a jackpot in a lottery pool, what
      form of ownership should one chose for the group?  Are there
      tax issues that need to be addressed in selecting this form of
      ownership?
       
      It seems to me there was at one time tax sheltering
      used by authors of books that got large advances before the 
      book was published.  Is it not possible to claim lottery winnings
      as a one time shot and pay a lower amount in taxes?  Can others
      discuss ownership of group lottery wins? 
        thousandair's avatar - Lottery-026.jpg
        NY
        United States
        Member #10151
        January 4, 2005
        248 Posts
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        Posted: August 10, 2005, 5:20 pm - IP Logged

        Poor guy just wasn't his time to win, Maybe he will win a bigger prize than the one he didn't go with  but i on the other hand would have handed them  a c-  note  for a piece of that prize. Sometimes s happens.

        US FlagThousandair

          psykomo's avatar - animal shark.jpg

          United States
          Member #4877
          May 30, 2004
          5123 Posts
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          Posted: August 10, 2005, 5:32 pm - IP Logged

          I really wish that the media would stop turning this story into a bad thing about dan he is a great guy that does not deserve this. he is sad enough without everyone asking him how it feels. the only reason he dident play is because he did not have the 50.00 on him. that was the first time we ever played together and we were lucky enough to win. we played with 50.00 because we figured that we had more chances of winning. It was the same thinking as if we went to a high class restaurant: you do it once in a great while, but you dont do it often.  And no one is retiring just taking a couple of weeks off!

           FIRST of ALL CONGRATUATIONSSSSSSSSSSSSS^^^^^^^^^^^^^^^^^^^

           to  your WINNERS CLUB!!!!!!!!!!!!!!!!!!!!!!!!!!! We have a What  kind of car

           would you buy on LP ...............try to post on that one if you EVER have ....

           time for post'g.........(BUT)????? DID you buy Quick PICKs or did you work 

           on individual numbers????????? I am a car crazy..............person and .....

           a Quick PICK .............theory promoter...............used  a lot of  lottery<<<

           software programs....(quit-that) about a year and now trying to win^^^ 

           with QUICK PICKs??????????????????????????????????????????????????

           LOL

           PSYKOMO 

            Todd's avatar - Cylon 2.gif
            Chief Bottle Washer
            New Jersey
            United States
            Member #1
            May 31, 2000
            23273 Posts
            Online
            Posted: August 10, 2005, 5:36 pm - IP Logged

            Good point psykomo!  It will be interesting to see if they buy Pontiacs! Wink

             

            Check the State Lottery Report Card
            What grade did your lottery earn?

             

            Sign the Petition for True Lottery Drawings
            Help eliminate computerized drawings!

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              chicago
              United States
              Member #20007
              August 10, 2005
              3 Posts
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              Posted: August 10, 2005, 7:41 pm - IP Logged

              i bought a buick lacrosse cxs. however, the pontiacs are great cars. i owned a pontiac g6 and loved it. as for the numbers, we played qp. we also had a fifty dollor winner as well. and i played 38.00 of it on scratch off tickets after we came back from the lotto office. I won 100.00 so i gave dan those tickets. he went and played it on mega-millions. i hope he wins something.


                United States
                Member #379
                June 5, 2002
                11296 Posts
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                Posted: August 10, 2005, 7:57 pm - IP Logged

                Congratulations PontiacSales!

                I'm sure glad you took the cash! Now you have to hit Mega Millions!Disney Going to Disney World?

                  Todd's avatar - Cylon 2.gif
                  Chief Bottle Washer
                  New Jersey
                  United States
                  Member #1
                  May 31, 2000
                  23273 Posts
                  Online
                  Posted: August 10, 2005, 9:05 pm - IP Logged

                  i bought a buick lacrosse cxs. however, the pontiacs are great cars. i owned a pontiac g6 and loved it. as for the numbers, we played qp. we also had a fifty dollor winner as well. and i played 38.00 of it on scratch off tickets after we came back from the lotto office. I won 100.00 so i gave dan those tickets. he went and played it on mega-millions. i hope he wins something.

                  I think it's great that you put your money where your mouth is and bought a GM car.  I'm a fellow GM owner myself — you can check out my Vette on my home page.

                   

                  Check the State Lottery Report Card
                  What grade did your lottery earn?

                   

                  Sign the Petition for True Lottery Drawings
                  Help eliminate computerized drawings!


                    United States
                    Member #14188
                    April 22, 2005
                    21 Posts
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                    Posted: August 10, 2005, 9:10 pm - IP Logged
                     
                    PontiacSales,
                     
                    I had a '58 Bonneville Convertible.  It was the best car of my
                    life, even greater than the '66 Corvette Stingray.  There was no
                    way to get any in the corvette, but the "Bonne" had big bench
                    seats, front and back.  What a car.  When I will MegaMillions I 
                    will search the globe high and low for a frame up restoration. 
                      Avatar

                      United States
                      Member #1826
                      July 11, 2003
                      2645 Posts
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                      Posted: August 11, 2005, 2:08 am - IP Logged

                      With 400 combinations being played by this pool 3 times a week, it was only a matter of time. But you have got to feel sorry for that other guy.

                      (insert signature here)

                        Avatar
                        New Member
                        Oswego
                        United States
                        Member #20069
                        August 11, 2005
                        6 Posts
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                        Posted: August 11, 2005, 6:14 am - IP Logged

                        With 400 combinations being played by this pool 3 times a week, it was only a matter of time. But you have got to feel sorry for that other guy.

                        Stop kidding yourself by thinking its only a matter time. Many have been doing larger combinations for years and have not hit the jackpot. It was purely luck. Even with 400 combinations they still had a 99.99% chance of losing. Saying its only a matter of time is nothing more then chasing a pipe dream. Im glad to her that some hard working middle class fellows struck it rich though.

                        Congratulations PontiacSales to you and you and your friends. If you all play it smart with a stake like that you will have the opportunity to build a dynasty that your families can enjoy for years to come. Be very careful what you do. Think smart. These guys who say that you have to go back to work are pure idiots. You can easily compound 1.6 million into over $100,000 a year using secure investments and still keep your stake. This is something to be discussed with a financial advisor. Take care

                          RJOh's avatar - chipmunk
                          mid-Ohio
                          United States
                          Member #9
                          March 24, 2001
                          19830 Posts
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                          Posted: August 11, 2005, 7:06 am - IP Logged

                          With 400 combinations being played by this pool 3 times a week, it was only a matter of time. But you have got to feel sorry for that other guy.

                          I know among all the lottery players in our town of 30 thousand, over 400 combinations are bought twice every week for our local State lottery and nobody from our town has ever won it.  I matched 5of6 a few years back at a store that sold a lot of lottery tickets and I was surprised to learn that I was their biggest winner in 3 years.  Buying a lot of lottery tickets only guarantee your chances of losing a lot of money.

                           * you don't need to buy more tickets, just buy a winning ticket * 
                             
                                       Evil Looking       

                            Avatar
                            New Member
                            Oswego
                            United States
                            Member #20069
                            August 11, 2005
                            6 Posts
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                            Posted: August 11, 2005, 7:51 am - IP Logged

                            With 400 combinations being played by this pool 3 times a week, it was only a matter of time. But you have got to feel sorry for that other guy.

                            I know among all the lottery players in our town of 30 thousand, over 400 combinations are bought twice every week for our local State lottery and nobody from our town has ever won it.  I matched 5of6 a few years back at a store that sold a lot of lottery tickets and I was surprised to learn that I was their biggest winner in 3 years.  Buying a lot of lottery tickets only guarantee your chances of losing a lot of money.

                            You pretty much hit the nail right on the head. There are over 20 million possible combinations in a 6/52 drawing and the IRS tries to screw you as if winning the lotto is some easy task.

                            I heard a story of a group of millionares who put their money together and tried to corner a lottery drawing which had went way over ($$$) the amount of possible combinations. They played all the possible combinations and they did have it cornered but there was only one problem. Some poor shmuck who lived in the mountains bought one ticket for that drawing and won the pot with the investors. It didnt work as planned so the investors got the high hard one :) in turn losing millions of dollars.

                            Lottery should be played for fun. If you guys want to play a game with a strong positive expectancy I would suggest you read up on the financial markets and learn some strategies. Once you do this you can buy software that will test your ideas on historical data telling you how good your so called edge has performed in the past. There are many edges that can be exploited in the financial markets but dont expect to get rich quick. 

                             This is a lottery forum so I will leave it at that :)

                             

                             

                              LOTTOMIKE's avatar - cash money.jpg
                              Tennessee
                              United States
                              Member #7853
                              October 15, 2004
                              11338 Posts
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                              Posted: August 11, 2005, 8:25 am - IP Logged

                              How can you run a lottery pool if everybody has to buy $50 in tickets?

                              It seemed to work pretty well for these four newly-made millionaires.

                              What's the most amount of money you ever spent at one time on lottery tickets?

                              i bought 300 dollars worth of powerball tickets at one point BUT i learned a very valuable lesson.it only takes one dollar to win....