Welcome Guest
Log In | Register )
You last visited December 3, 2016, 8:56 pm
All times shown are
Eastern Time (GMT-5:00)

International super lottery to create jackpots of $500 million or more

Topic closed. 58 replies. Last post 8 years ago by colthmn.

Page 3 of 4
PrintE-mailLink
time*treat's avatar - radar

United States
Member #13130
March 30, 2005
2171 Posts
Offline
Posted: September 15, 2008, 2:46 pm - IP Logged

tax is an interesting problem. here in australia the gov getes its tax by taxing everyone who buys a ticket. thats right 1/11th of all gambling wagers goes straight to the fed gov as a gambling tax.  so when aust. buys a international lotto ticket, We will pay our tax at the terminal, all the buyers will pay tax. doesnt matter if its won  here or not. In usa tthe gov will only get tax income when the ticket is actually won  there!

 

now it depends on whaqt you think is fairer, all the losers paying tax and the winner not paying it. so the gov gets their cut. or the winner paying the tax.

personally i dont think it should matter, Just keep it the way it already works in the juresdiction the ticket is bought and won in. i mean the tax i pay is 9c on ea $1 bet , i can live with that. if i win ,$1 mill , ive paid my 9c tax.

 

I think tax should be handled at local level.

now price

with international exchange rates always changing, the major location playing should be the basis of price and other countries should have a quate mechenism for when you want ot buy a game. like if u want to get a check cut on a forign bank you get  buy or sell price based on the daily rate. same for international lotto. The unlucky areas that doesnt have sell the most tickets. there would be a daily ticket price quoted at the terminal. when u go to buuy a ticket, the machine would print a quote before the sale for you to approve of the cost.

 

now if u lived in either USA or europe, well one of those 2, you would always pay the same price as the price will be based on their dollar. the rest of the world would have the varying price.

No worries. When they put together the global lottery, you can rest assured they will have a global currency and a global tax, too.

In neo-conned Amerika, bank robs you.
Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

    bobby623's avatar - abstract
    San Angelo, Texas
    United States
    Member #1097
    January 31, 2003
    1394 Posts
    Offline
    Posted: September 15, 2008, 3:12 pm - IP Logged

    Lot of good comments. But, it ain't going to happen. At least, not in the US.

    Do you really think the IRS is going to let that much money go out of the country?
    IMHO, it was the IRS that pushed the anti-gambling bill to stop $$$ from leaving the country, and to
    shut down offshore bank accounts set up with mostly lottery wins.

    Besides, to generate a $500 million jackpot, the game matrix would probably have to be something like Pick 8 from 70, plus a bonus ball.

    Or maybe Pick 7 of 60 but to win you would have to match in the winning numbers in order of occurrence!

      Avatar
      New Member
      Kearny, NJ
      United States
      Member #49861
      February 17, 2007
      6 Posts
      Offline
      Posted: September 15, 2008, 5:21 pm - IP Logged

      FrownIt's an excellent and a very ambitious idea-though I suggest that we could had loved to know which type of a game it will be.

      Many people around the globe ,have found a more easier ways to win the lotterey-with the help of Gail Howard Books and the LP .

      Those who dont win are the ones 'who play without considering certain factors as outlayed very clearly in Certain Lotto Books and the LP.

      Back to the topic....I think a global draw will be a great idea.   

      I have heard of Gail Howard (I have two of her books) but "LP" eludes me as to it's meaning.

        Avatar
        New Member
        Kearny, NJ
        United States
        Member #49861
        February 17, 2007
        6 Posts
        Offline
        Posted: September 15, 2008, 5:23 pm - IP Logged

        I have heard of Gail Howard (I have two of her books) but "LP" eludes me as to it's meaning.

        DUH! LP stands for Lottery Post wheels and picks. DUH!, again.

          Bondi Junction
          Australia
          Member #57242
          December 24, 2007
          1102 Posts
          Offline
          Posted: September 16, 2008, 1:41 am - IP Logged

          I would like to participate in an international lottery - they could call it GLOBALBALL. Will the winners be allowed to remain anonymous, as in the UK and Australia, or be required to go public as in many US lotteries? I do hope they will be given the choice.

            fiona$'s avatar - mystic
            New Member
            fort wayne, indiana
            United States
            Member #18439
            July 11, 2005
            11 Posts
            Offline
            Posted: September 16, 2008, 1:52 am - IP Logged

            One thing to remember in Europe when they say it is a $500 million jackpot it is a $500 million pay out

            not like here in the States where $100 million is $50 million payout if your lucky.

            Fiona$

              Avatar
              NY
              United States
              Member #23835
              October 16, 2005
              3474 Posts
              Offline
              Posted: September 16, 2008, 2:34 am - IP Logged

              "In the US, if you offer people a multi-state game with a bigger payout, they don't bother with the local lottery."

               

              BS, if they get large enough I play them for the better odds. In fact I play local lotteries far more than power rip off. But with a global lottery it also increases the chances of multiple winners. But $500 and up would be sweet.

              Maybe you and I are smarter than the average player.  Sales of MM tickets in NY are never less than about 2.3 million for the $12 million starting jackpot. That's enough to cover about $1.2 million worth of annuity jackpot. When NY lotto rolls the increase is only $1 million until it gets to at least 35 or 40 million, when it increases by $2 million once before returning to a $1 million increase for at least a few weeks. That tells me that even at 25 to 30 million they're selling fewer lotto tickets than MM tickets for $12 million, despite lotto offering  about 7 times as much chance of winning. What I see in stores is the same. If lotto is at 25, 30 or even 35 million while MM is at 12 to 20, I see people buying MM tickets without buying lotto.

              If you can get odds that are 5 to 10 times better for a bigger jackpot you'd think it would be a no brainer, but apparently that's not how a lot of players think. When the choice is to play for $10 or 20 million or have far less chance to win $50 million, there's no question that the majority go for the bigger payout. Of course, the odds in both games are so bad that it's not really smart to play either way.

                savagegoose's avatar - ProfilePho
                adelaide sa
                Australia
                Member #37136
                April 11, 2006
                3300 Posts
                Offline
                Posted: September 16, 2008, 11:15 am - IP Logged

                the survery over on usamega had me thinking... about a 10c  a play game for the international lotto.

                 

                 

                of course there would also need a really hard to win game to get it to jackpot so i thought a 7/99 game, i think i calcualted odds right at 1 in 1,120,529,256thats right 1 in 1 billion odds. but at 10c us a play even people in 3rd world countries would play.

                you could have so many options for playing combinations and wheelsthere on the entry form.  you could play every number from 1- 99 for$1.50 bet.  there should be a box to QP a random mix of all numbers. every combo of 9numbers would only cost like $3.60 and 10 numbers only $12. pick 12numbers and terminal could calc that its a combo game and charge youfor 120 games, ie $12. or mark 8 numbers a game and be charged 80c a play for combo 8 plays.  playing ea combination of 7 numbers out of 8.

                anyhow im getting excied about the posibilities with low price high odds games, I think it might be the only way to get poeple to pay to play such hard winning odds.

                2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

                keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                  gocart1's avatar - lighthouse
                  ONEONTA,NEW YORK
                  United States
                  Member #30516
                  January 17, 2006
                  419 Posts
                  Offline
                  Posted: September 16, 2008, 4:43 pm - IP Logged

                  I am against any mergings of these multi state lotteries.  If anything I wish some of these states would scale down and disconnect from these multi state lotteries.  Powerball and Megamillions cut into the state jackpots.  Here in CT, the lotto jackpot takes so long to get up to even 2 or 3 million because so many people are playing Powerball.  And on top of that hardly ever is there a Powerball winner from CT.  And it will be worse in January when Florida joins PB.  It will reduce state jackpots in CT and Florida, among other states.

                  Does anybody really need to win 500 million?  Isn't 5 million enough?  Even after taxes a 5 mill jackpot would still make you a multi- millionaire. Isn't that enough?  Most people playing the lottery are poor(like me) or struggling to stay middle class.  5 mill would be more than enough for me to start living the good life.

                  SC

                  HEY SPARE CHANGE..I'm here in city island ,in the bronx,N.Y...I always take the twenty minute to exit 4 on i95 ,to play powerball.its funny thing but all the different lotto retailers say,,if it wasn't for the powerball in ct ,nobody would play any tickets ..CT lotto only adds 100,000 to the lotto after no jackpot wins.All the other state add at least  a 1,000,000 to the game after a non jackpot drawingParty

                    Avatar
                    Northern Ohio
                    United States
                    Member #63551
                    August 1, 2008
                    203 Posts
                    Offline
                    Posted: September 17, 2008, 12:21 am - IP Logged

                    I can't believe what I'm reading. Did a few of you actually say you'd turn down $500M?

                      colthmn's avatar - Lottery-028.jpg
                      Inglewood
                      United States
                      Member #41769
                      June 22, 2006
                      122 Posts
                      Offline
                      Posted: September 17, 2008, 7:12 pm - IP Logged

                      I can't believe what I'm reading. Did a few of you actually say you'd turn down $500M?

                      Well, I don't mean to suggest that I'd turn down $500 Mill. If someone offered it to me, I could always give some away and keep the amount I desired. However, I don't see anyone offering! I would not pursue it with the same zeal as I do  with  $ 60 and $ 80 million dollar jackpots! Not long ago there was a $ 276 Mill jackpot and a steelworker won with $2.00. I was sitting here at my computer at 6pm and could have walked 1 blk and took a pretty big swing at it. I didn't bother going,  cause I just couldn't get excited about it.

                      With $500 mill dollars comes a lot of responsibility I'd prefer not to have, not to mention the headaches and worries just watching the Brokers and Tax folks and planners in your employ! The time required to oversee that kind of money could be much better spent, learning the art of gourmet cooking. Fishing also would consume much of my time. For me it's this way, I just don't desire Empire! No phones ringing PLEEEZE!!!

                      $30 or $40 Million, I could make some dumb mistakes, and still have enough to live well. Even that amount is more than I actually need.  I just want to do whatever I want, whenever I want. How much, would I love to walk into an Auto Show, and see the car of my dreams, and right then and there, tell that salesperson, I want this car! How great is that?  So, no. If I walked over to customer service, and had a couple of extra bucks and threw it down, and won $500 Mill. I wouldn't refuse the prize, there are plenty enough people with their hands out. But, what are the odds that freak accident would ever occur? So, I really go at the small and medium jackpots, and I mean,  I go at em'!!!!

                        Avatar
                        NY
                        United States
                        Member #23835
                        October 16, 2005
                        3474 Posts
                        Offline
                        Posted: September 17, 2008, 10:42 pm - IP Logged

                        You may not want to turn down a $500 million jackpot, but if I'm reading you correctly you'd rather play for 60 to 80 million?

                        "what are the odds that freak accident would ever occur?"

                        It's less likely that the jackpot will get to $500 million than 60 or 80, but once it does you have exactly the same odds of winning as you do with 60 or 80, or for the starting jackpot of 12 million. It's winning that's a freak acident, not winning when the jackpot happens to be unusually big.

                        "$30 or $40 Million, I could make some dumb mistakes, and still have enough to live well."

                        With the $175 million I'd net from a $500 million jackpot I could make a bunch of big, dumb mistakes and still have enough to live extremely well. Sure, you could lose a lot more than if you had "only" $30 to 40 million, but what really matters is what you have left. If you lost $35 million your glass would be nearly empty, but if I lost $85 million my glass would still be half full. If you think the responsibility of investing and managing  $150 million is tough, what about the responsibility of dealing with 1/4 of that? The responsibility is really much higher, because you can't afford to lose as much.

                        Investing and managing the money doesn't have to be a huge project, because you don't need a huge return when you've got that much principal to work with. A measly 2.5% would give you a quarter million per year forever if you had $10 million. Earning $2.5 million a year by investing $100 million at 2.5% isn't any harder, though it would be worthwhile to diversify a bit more. The companies that are currently going belly up aren't doing it because they didn't make enough from safe, conservative investments. They're going belly up because they got greedy and gambled that they'd make big returns on risky investments, and lost enormous amounts of the principal. There's an awful lot to be said for kicking back and relaxing while a huge nest egg earns a modest return instead of trying to maximize the return from a smaller nest egg.

                          Avatar

                          Honduras
                          Member #20982
                          August 29, 2005
                          4715 Posts
                          Offline
                          Posted: September 19, 2008, 1:33 am - IP Logged

                          I can't believe what I'm reading. Did a few of you actually say you'd turn down $500M?

                          Yes i would turn down 500 million dollars....I would play it because you never know but once i win i'll take my part and the rest i will give it away...I really don't need that much money...or i will use it for good but don't even think for a second that i am going to use that money for me, i may use it in science experiments or on theories on how to change the world....

                          Also something many forget and i bet even the country lottery who is creating this huge Global lottery also forgets....You may not see it that way and you will disagree but i believe it is so...

                          If the odds of a game is 300 million to 1, it is actually 300 million to 1 BECAUSE IT COST 1 DOLLAR...but if each ticket was to cost 5 dollars, then the odds will be 5x 300 million....Why? because we assume that each combination is going to cost us 1 dollar...And i know the ticket of this Global lottery is not going to cost 1 dollars but like 50 dollars or something...What am i saying? That just by the price of each ticket you are jacking up the odds, you don't need to necesarily jackup the lotto configuration/matrix to really jackup the price.....

                          Another example...If Powerball a game that has 150 million combinations was to cost 30 dollars EACH TICKET, the it will take 30 times the amount of people that play Powerball to win as regular as it is now that each ticket cost 1 dollar...So the odds will not be the same...

                          Another example, if powerball game that has 150 million combination and the odds are 150 million to 1 was to cost 25 cents per ticket, then the odds will be 1/4th 150 million to 1, because with 1 dollar you can buy 4 tickets and no one is going to spend 25 cents, most people are going to spend 1 dollar because 1 dollar is the national sort of speak, currency, national standard unit of the game...So at 25 cents the odds will be 1 in 37 million and not 1 in 150 million....The same thing would happen if the game of each ticket cost 30, 40 or 50 dollars...I don't care who says what, this is what actually the odds are...

                          The Forex trades: 1.6 Trillion dollars EVERY day, that´s more than the GDP of the Carribbean Central America, COMBINED. Enough to feed every crook out there for centuries...To all Geniuses & Powers Countries of the World the Planet needs breakthroughs in all Medicine, Veterinary, Biology related fields, Psychology, Population Psychology/Sociology..They need to genetically ingeneer new plants species/types to give more variety of plants and thus have more resources for combating diseases¨


                           


                           


                           

                           


                            Stew12's avatar - bad egg-64x64.png
                            CT
                            United States
                            Member #61398
                            May 21, 2008
                            781 Posts
                            Offline
                            Posted: September 19, 2008, 9:47 am - IP Logged

                            The odds do not change with the price of the ticket, that is a mathematical fact.  You either pay $1 for a 1:146,107,962 chance, or you pay $.10 for a 1:146,107,962 chance, or you pay $10 for a 1:146,107,962 chance, etc.  Simple math.

                              colthmn's avatar - Lottery-028.jpg
                              Inglewood
                              United States
                              Member #41769
                              June 22, 2006
                              122 Posts
                              Offline
                              Posted: September 19, 2008, 9:25 pm - IP Logged

                              You may not want to turn down a $500 million jackpot, but if I'm reading you correctly you'd rather play for 60 to 80 million?

                              "what are the odds that freak accident would ever occur?"

                              It's less likely that the jackpot will get to $500 million than 60 or 80, but once it does you have exactly the same odds of winning as you do with 60 or 80, or for the starting jackpot of 12 million. It's winning that's a freak acident, not winning when the jackpot happens to be unusually big.

                              "$30 or $40 Million, I could make some dumb mistakes, and still have enough to live well."

                              With the $175 million I'd net from a $500 million jackpot I could make a bunch of big, dumb mistakes and still have enough to live extremely well. Sure, you could lose a lot more than if you had "only" $30 to 40 million, but what really matters is what you have left. If you lost $35 million your glass would be nearly empty, but if I lost $85 million my glass would still be half full. If you think the responsibility of investing and managing  $150 million is tough, what about the responsibility of dealing with 1/4 of that? The responsibility is really much higher, because you can't afford to lose as much.

                              Investing and managing the money doesn't have to be a huge project, because you don't need a huge return when you've got that much principal to work with. A measly 2.5% would give you a quarter million per year forever if you had $10 million. Earning $2.5 million a year by investing $100 million at 2.5% isn't any harder, though it would be worthwhile to diversify a bit more. The companies that are currently going belly up aren't doing it because they didn't make enough from safe, conservative investments. They're going belly up because they got greedy and gambled that they'd make big returns on risky investments, and lost enormous amounts of the principal. There's an awful lot to be said for kicking back and relaxing while a huge nest egg earns a modest return instead of trying to maximize the return from a smaller nest egg.

                              Well, the post states"International super lottery to create jackpots of $500 million or more"

                              If this game is to originate in Europe as does Euromillions and will be multi-national, then, what you see, is what you get. $500million. This provided you're the sole  winner!

                              As I live in California, my game here is mega millions. Which is the game I play with greatest fervor. So, when the jackpot reaches about $60 to $80 million, I'm seeing $30-40 million net. Thereabout anyway! A $500 million jackpot is very difficult for me to get my head around. It isn't so much that the odds are lesser or greater or the same, at least not for me. I said I might throw $2.00 at it. Normally with mega I play much more than $2.00 at my preferred level. It is also true that people win all the time with $2.00 and many do not. Sooo, it's not the odds that dampens my desire to play, but it is the excessive amount of the pot that I am uncomfortable with!!!

                              And again, as far as managing the money, I'd also feel more comfortable with a smaller amount, especially with what's happening with the money markets. I'd place a little in a lot of places, and pay cash for much else! I want as little debt as possible at this point. I do have ideas, but of course I'd seek guidance from professionals, but at the end of the day, the decisions would be mine!!!

                              So, Okay! the odds are exactly the same, that's good enough! But I'm still not wanting $500 million. Sorry Folks!!!