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Cool $207 million up for grabs in lottery

Mega MillionsMega Millions: Cool $207 million up for grabs in lottery

Need some extra spending money this holiday season? Would $207 million be enough?

That's the jackpot for Friday night's Mega Millions drawing, if a single ticket matches all six numbers in the multi-state lottery.

The Mega Millions jackpot has been climbing steadily without a big winner since Oct. 21, when Mark Staffa of Rockmart won $42 million.

Staffa, a software engineer, said he planned to use the windfall to help his parents retire and to travel the world.

If this turns out to be your lucky day and you need advice on how to spend your winnings, you might want to give Robert Harris a call.

The 47-year-old iron worker from the tiny southeast Georgia town of Portal won a $275 million Mega Millions jackpot in February.

Harris chose to collect his winnings in a lump sum of $164 million before taxes.

Mega Millions is played in Georgia, Virginia, Illinois, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Texas, Washington state and California.

AJC

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12 comments. Last comment 8 years ago by KY Floyd.
Page 1 of 1
DC81's avatar - batman39
MI
United States
Member #54830
August 31, 2007
985 Posts
Offline
Posted: December 12, 2008, 10:01 am - IP Logged

Hmm, I think I'd rather give the winner of the 196M jackpot from Ohio a call... Oh right, I can't! I'll just have to call the law firm that claimed it for the winner.Big Smile

You can't predict random.

    Jill34786's avatar - Lottery-006.jpg
    Windermere, FL/Franklin, TN
    United States
    Member #50210
    March 1, 2007
    843 Posts
    Offline
    Posted: December 12, 2008, 10:41 am - IP Logged

    "Need some extra spending money this holiday season? would $207 million be enough?"

     

    Don't you just love the way lottery officials twist reality? First off, $207 million is the total annnuity package paid over 26 years. The cash option is $141 million of which an immediate 25% is dedicated to Federal taxes while another 10% needs to be put aside for future payments to uncle sam and lets not forget the states cut.

    Using Georgia as an example, your actual lottery  payout if you are the sole winner is $97 million...don't forget that you will probably owe another $14 million when you file your federal taxes as you will be in the 35% bracket.

    In reality, your true net payout is  more like $83 million...not that I or anyone else would complain but I just get sick and tired off these fictitious inflated numbers. 

      Avatar
      Michigan
      United States
      Member #59293
      March 12, 2008
      121 Posts
      Offline
      Posted: December 12, 2008, 4:29 pm - IP Logged

      "Need some extra spending money this holiday season? would $207 million be enough?"

       

      Don't you just love the way lottery officials twist reality? First off, $207 million is the total annnuity package paid over 26 years. The cash option is $141 million of which an immediate 25% is dedicated to Federal taxes while another 10% needs to be put aside for future payments to uncle sam and lets not forget the states cut.

      Using Georgia as an example, your actual lottery  payout if you are the sole winner is $97 million...don't forget that you will probably owe another $14 million when you file your federal taxes as you will be in the 35% bracket.

      In reality, your true net payout is  more like $83 million...not that I or anyone else would complain but I just get sick and tired off these fictitious inflated numbers. 

      Advertising the annuity jackpot is a marketing strategy to make people think that the jackpot is really 207 rather than advertising it as it really is. The lottery is a buisness just like anyother.

        Blotto's avatar - pengi
        New Member
        New Jersey
        United States
        Member #2411
        September 30, 2003
        16 Posts
        Offline
        Posted: December 12, 2008, 4:37 pm - IP Logged

        The higher advertised payout causes more people to play thus bringing the jackpot even higher. The advertising works for the players benefit.

          Bradly_60's avatar - disney37
          Atlantic Mine, Michigan
          United States
          Member #416
          June 23, 2002
          1614 Posts
          Offline
          Posted: December 12, 2008, 6:14 pm - IP Logged

          The higher advertised payout causes more people to play thus bringing the jackpot even higher. The advertising works for the players benefit.

          I don't think it really has any benefit.  Very few people take the annuity.  And really that is just an arbitrary number.  That numbers is assuming interest rates stay the same over a 26 year period.  That is not going to happen.  So really that number means nothing.  I don't understand why people still take the annuity these days after they started giving the cash option.  The cash option is the only number that should be considered. 

          Brad

            Piaceri's avatar - sarsony1
            Republic of Texas
            United States
            Member #57557
            January 9, 2008
            1095 Posts
            Offline
            Posted: December 12, 2008, 6:42 pm - IP Logged

            I don't think it really has any benefit.  Very few people take the annuity.  And really that is just an arbitrary number.  That numbers is assuming interest rates stay the same over a 26 year period.  That is not going to happen.  So really that number means nothing.  I don't understand why people still take the annuity these days after they started giving the cash option.  The cash option is the only number that should be considered. 

            Brad

            White Bounce  Going for the $141.3 million win! Woot! White Bounce

             

             

            Just so they know....I won't be consulting previous winners for financial advice....thankyouverymuch....I have my own advisors....

            face

            singlewinnersinglewinnersinglewinner   

              Lotto*Love's avatar - lips
              Washington *state*
              United States
              Member #62009
              June 14, 2008
              192 Posts
              Offline
              Posted: December 12, 2008, 7:33 pm - IP Logged

              It's exciting, and nerve racking because I have a feeling it will be won by someone tonight.  I'm jealous already! I know, I know...shouldn't be jealous..but I can't help it. 

              I'm getting my tickets tonight.  I usually buy only $1....$5 if the jackpot is big.  But tonight, I'm buying $10 and throwing caution to the wind.

              I'm not doing the qp's tonight..though I can say only 1 line of my 10 is numbers that mean something to me.  The other 9?...go ahead and laugh....I got real bored last night and insomnia got the better of me so I spent the time to cut up 1 sheet of copy paper into squares a little smaller than a quarter and took a green (money) marker and wrote 1-56 for one set (white balls) and 1-46 the other set (gold ball).  I put them into 2 different containers and started drawing my numbers.  I figure it could add a little fun to it by announcing each number lol  so thats how I got my other lines.

               

              Hey...not too much different from the machine.  Though the machine has been giving me number combos 20 and higher when I buy $3 or less.  The singles I've been buying have been like 27 and higher.  I wanted to just try something different.

              Hope everyone bought their tickets! And I hope you didn't go overboard!

              GOOD LUCK YA'll!Party

              Surrender You can run, but you can't hide mighty Jackpot...surrender to me at once!


                United States
                Member #58528
                February 18, 2008
                710 Posts
                Offline
                Posted: December 12, 2008, 9:15 pm - IP Logged

                It's exciting, and nerve racking because I have a feeling it will be won by someone tonight.  I'm jealous already! I know, I know...shouldn't be jealous..but I can't help it. 

                I'm getting my tickets tonight.  I usually buy only $1....$5 if the jackpot is big.  But tonight, I'm buying $10 and throwing caution to the wind.

                I'm not doing the qp's tonight..though I can say only 1 line of my 10 is numbers that mean something to me.  The other 9?...go ahead and laugh....I got real bored last night and insomnia got the better of me so I spent the time to cut up 1 sheet of copy paper into squares a little smaller than a quarter and took a green (money) marker and wrote 1-56 for one set (white balls) and 1-46 the other set (gold ball).  I put them into 2 different containers and started drawing my numbers.  I figure it could add a little fun to it by announcing each number lol  so thats how I got my other lines.

                 

                Hey...not too much different from the machine.  Though the machine has been giving me number combos 20 and higher when I buy $3 or less.  The singles I've been buying have been like 27 and higher.  I wanted to just try something different.

                Hope everyone bought their tickets! And I hope you didn't go overboard!

                GOOD LUCK YA'll!Party

                Sounds like as good of a system as I've read about lately.Me?I bought a quick pick in Illinois.

                  rcbbuckeye's avatar - Lottery-043.jpg
                  Texas
                  United States
                  Member #55889
                  October 23, 2007
                  5595 Posts
                  Offline
                  Posted: December 12, 2008, 9:27 pm - IP Logged

                  It's exciting, and nerve racking because I have a feeling it will be won by someone tonight.  I'm jealous already! I know, I know...shouldn't be jealous..but I can't help it. 

                  I'm getting my tickets tonight.  I usually buy only $1....$5 if the jackpot is big.  But tonight, I'm buying $10 and throwing caution to the wind.

                  I'm not doing the qp's tonight..though I can say only 1 line of my 10 is numbers that mean something to me.  The other 9?...go ahead and laugh....I got real bored last night and insomnia got the better of me so I spent the time to cut up 1 sheet of copy paper into squares a little smaller than a quarter and took a green (money) marker and wrote 1-56 for one set (white balls) and 1-46 the other set (gold ball).  I put them into 2 different containers and started drawing my numbers.  I figure it could add a little fun to it by announcing each number lol  so thats how I got my other lines.

                   

                  Hey...not too much different from the machine.  Though the machine has been giving me number combos 20 and higher when I buy $3 or less.  The singles I've been buying have been like 27 and higher.  I wanted to just try something different.

                  Hope everyone bought their tickets! And I hope you didn't go overboard!

                  GOOD LUCK YA'll!Party

                  Hey that's nothing to laugh at. It's as good as any rng. When I lived in IN and played PB, I took pennies and put masking tape on them and numbered them and would draw them for my numbers. Obviously I never won much, but that was before I had a computer with the internet.

                  So....... now I keep track of numbers on excel files, research, pick the very best numbers to play and...... still lose. LOL.

                  Sometimes I think keeping it simple is the best way. I used LP's rng for my numbers tonight.

                  Can you imagine what would happen to LP if the eventual winner claimed their prize and said that they got their numbers from LP's rng? Think membership might jump a little? LOL.

                  Good luck tonight.

                    Perfecttiming2's avatar - redcross

                    United States
                    Member #65961
                    October 11, 2008
                    162 Posts
                    Offline
                    Posted: December 13, 2008, 9:41 am - IP Logged

                    "Need some extra spending money this holiday season? would $207 million be enough?"

                     

                    Don't you just love the way lottery officials twist reality? First off, $207 million is the total annnuity package paid over 26 years. The cash option is $141 million of which an immediate 25% is dedicated to Federal taxes while another 10% needs to be put aside for future payments to uncle sam and lets not forget the states cut.

                    Using Georgia as an example, your actual lottery  payout if you are the sole winner is $97 million...don't forget that you will probably owe another $14 million when you file your federal taxes as you will be in the 35% bracket.

                    In reality, your true net payout is  more like $83 million...not that I or anyone else would complain but I just get sick and tired off these fictitious inflated numbers. 

                    I agree!

                      Avatar
                      New Member
                      NJ
                      United States
                      Member #50532
                      March 7, 2007
                      4 Posts
                      Offline
                      Posted: December 13, 2008, 10:27 am - IP Logged

                      It's exciting, and nerve racking because I have a feeling it will be won by someone tonight.  I'm jealous already! I know, I know...shouldn't be jealous..but I can't help it. 

                      I'm getting my tickets tonight.  I usually buy only $1....$5 if the jackpot is big.  But tonight, I'm buying $10 and throwing caution to the wind.

                      I'm not doing the qp's tonight..though I can say only 1 line of my 10 is numbers that mean something to me.  The other 9?...go ahead and laugh....I got real bored last night and insomnia got the better of me so I spent the time to cut up 1 sheet of copy paper into squares a little smaller than a quarter and took a green (money) marker and wrote 1-56 for one set (white balls) and 1-46 the other set (gold ball).  I put them into 2 different containers and started drawing my numbers.  I figure it could add a little fun to it by announcing each number lol  so thats how I got my other lines.

                       

                      Hey...not too much different from the machine.  Though the machine has been giving me number combos 20 and higher when I buy $3 or less.  The singles I've been buying have been like 27 and higher.  I wanted to just try something different.

                      Hope everyone bought their tickets! And I hope you didn't go overboard!

                      GOOD LUCK YA'll!Party

                      I have actually done that before when it was "The Big Game".  I've read on the post one time that you pay to play, and if you win, its an added bonus, or something like that.  So you might as well have the most fun while picking your numbers.  I actually go on eBay and pick out all the cars I would like to buy, and use the last two digits of their item number to play in the lottery.  Aside from the numerous mechanical pickers, I also created a random number generator in Microsoft Excel to pick numbers without duplicates.  I create them for fun, haha!

                        Avatar
                        NY
                        United States
                        Member #23835
                        October 16, 2005
                        3474 Posts
                        Offline
                        Posted: December 14, 2008, 2:43 am - IP Logged

                        I don't think it really has any benefit.  Very few people take the annuity.  And really that is just an arbitrary number.  That numbers is assuming interest rates stay the same over a 26 year period.  That is not going to happen.  So really that number means nothing.  I don't understand why people still take the annuity these days after they started giving the cash option.  The cash option is the only number that should be considered. 

                        Brad

                        Of course it has a benefit. The bigger the jackpot, the bigger the sales. Most people don't know the cash value and some don't even know there's any difference  at all. Anyone who doesn't play until it gets to 50, 100 or 200 million and doesn't know that the cash value is really 30, 60, or 120 million is suckered into playing for games they otherwise wouldn't be playing.

                        Other than being misleading, the annuity value is real. It's a guaranteed payout, regardless of what happens to interest rates.