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$325 MILLION: Mega Millions lottery jackpot rolls again

Topic closed. 103 replies. Last post 7 years ago by KY Floyd.

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New Member
New Jersey
United States
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August 24, 2009
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Posted: August 27, 2009, 11:13 pm - IP Logged

Hmm? No it would be just over half that, 325/25 = 13M, then there's the taxes now and after the rates go back up and no telling where they'll go from there. Then there's the state income tax if your state has one which could always go up (and probably will over the next couple decades) as well. Never mind what your community might try to pull with raising taxes, though at least you can always move out. However with the annuity you're going to be paying those state taxes until the annuity runs out no matter where you live. At least with the cash option you have a lot more choices and greatly lower (and potentially eliminate) some of the taxes you'd pay compared with having to pay regular income tax.

No, I'd definitely take the cash and come up with my own plan with the assistance of my "financial team" whom I'd have advise me on a weekly or bi-weekly basis and offer suggestions so I can then do some research before going along with what they suggest. In the mean time I'd go back to school and take some financial/business/economics classes for something to do, perhaps get a degree or two so I'd be able to have a even stronger grasp to handle the situation and gain a firmer grasp on the situation and dealing with these people I'm be paying, I would not take a hands off, lazy approach to managing a monstrous windfall. Which all in the end would help me work toward my ultimate goals. Granted the school thing is probably something that I wouldn't jump into immediately, maybe after a year or so I can get the having fun thing out of my system a little. If I lose it all and become one of those "lotto losers" it will out not out of sheer ignorance, stupidity or going broke. It'll likely be from either my being robbed and murdered or someone I may care about. Dead

Nah, I'm in agreement with you. Cash it is. Tax once and done. Just get taxed on whatever investments I have.

 

I definitely want to go back to school, and this time I will finish and not party or get laid or whatever I did that prevented me from getting a degree. But at least the degree would be for me and not to "get a job"...lmao. Of course, if I ever get a Ph.D and I go broke, I can always become a professor. LOL...

I would hope that if you won, you would remove yourself from the situation that would get you murdered or robbed. Think of all those hip-hop artists that rap about guns and selling drugs...you think any of them live in the projects they grew up in? No...they live in places like CT where mansions are plentiful. I will not be one of those jerks who wins and blows it all. I'll go back to church and become at peace with myself. The only vice I would have would be travelling to places I would have never gone to right away (Like Europe). I'm not interested in going to Asia....nothing there calls me like Europe does.

 

I wish you, everyone and most of all ME the best of luck tomorrow. We're all going to need it...especially when I drop dead from shock winning with the golden ticket. LOL.

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    New Member
    New Jersey
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    Posted: August 27, 2009, 11:21 pm - IP Logged

    Merc? Last time I heard, that was owned by Ford.....(Mercury)

     

    I'm sure you meant the Benz though. :D

     

    And (F)orget You... I will buy an American car just as my get around town car...I kinda like the Ford Edge fully loaded. My car that I use to get someplace will most certainly be a Mercedes S-Class fully loaded. I will probably get a BMW 7 series just to switch it up. I won't get a foreign car that I'd have to learn to drive manual or God-forbid "lame" tiptronic. A guy driving an automatic Porsche would get laughed at by the women he'd try to pick up, let alone his friends. (Not that that would be me...I am going to remain faithful to my woman, honest to God). Porcshes, Ferraris, Lamboes, etc....you'd have to get a manual. No question.

     

    Everything else you said, I am completely in agreement. Good luck and God Bless. :)

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      Chattanooga, TN
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      Posted: August 27, 2009, 11:32 pm - IP Logged

      Merc? Last time I heard, that was owned by Ford.....(Mercury)

       

      I'm sure you meant the Benz though. :D

       

      And (F)orget You... I will buy an American car just as my get around town car...I kinda like the Ford Edge fully loaded. My car that I use to get someplace will most certainly be a Mercedes S-Class fully loaded. I will probably get a BMW 7 series just to switch it up. I won't get a foreign car that I'd have to learn to drive manual or God-forbid "lame" tiptronic. A guy driving an automatic Porsche would get laughed at by the women he'd try to pick up, let alone his friends. (Not that that would be me...I am going to remain faithful to my woman, honest to God). Porcshes, Ferraris, Lamboes, etc....you'd have to get a manual. No question.

       

      Everything else you said, I am completely in agreement. Good luck and God Bless. :)

      Benz, yeah lol

      i really like the cts-v, that is one heck of a "get around" car...

      honestly i still will keep and drive my 1999 Malibu, 205,xxx miles as my "Town Car"

      as for the "tiptronic junk"... you sound like Jeremy from Top Gear on BBC, he hates "those stupid flappy paddle gear boxes" all while driving a F-430 Spider... who could have a complaint about that car 

      Porcshe nah Maybe "Audi" as a reasonably un-american car i might have...

      Otherwise

      Corvette ZR1 and Z06

      Hummer H2

      Silverado 2500HD With Duramax

      CTS-V

      2010 Camaro SS

      and maybe a Audi R8 "affordable Lambo"

      And of Course my Not so trusty Malibu lol

      God Bless and Good Luck to you

        Perfecttiming2's avatar - redcross

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        Posted: August 28, 2009, 12:55 am - IP Logged

        wouldn't that be sweet... Robot Voice "i know the future numbers" and their they are... -,-,-,-,-,  MB -

        Does anyone think their will be a jackpot increase tomorrow?

         

        i got a good feeling that i will not win

        To the luck Player (s) that do

        Get a lawyer, make a trust or LLC

        To keep you safe and worry free-The less people know the better you are off, and you can enjoy the money freely and more joyfully

        Give 10% to a church org, or something that has to do with helping people find a way in life (Just an opinion Don't start a Debate with me on this please!!!)

        And please buy American Cars, i know it is not a Merc or Jaguar or BMW but the few still makes some really nice cars...

        And A small favor to ask

        "do not gamble anymore, you beat the house... You have Won!!"

        Their is a saying the house always Wins!

        So be careful and God Bless

        Good Luck to all

        This is probably one of the most kindest...."feel good" post on this site....I know its simple and to the point but it just struck me that way....

        Thanks!

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          Posted: August 28, 2009, 1:48 am - IP Logged

          RJOh, I am familiar with Hot Lotto.  I just think that the PB group should not have raised the jp. odds YET again this past January. 5/55 + 1/42 (1 in 146 million) was discouraging enough. 1 in 195 million is just plain greedy, hoping that even higher odds will lead to $300 million jackpots more often.  Players are NOT stupid; they know when they're being dealt an even worse deal. They didn't even alter the lower-tier prizes with the last matrix expansion. Matching 4/5 + the PB still pays out $10,000 with jackpot odds of 1/195 million as it did with odds of 1/146 million before January.  Whereas many players might have spent more than $1 prior to the latest matrix expansion, many will now only spend $1 or $2. Why bother with more than $1? The PB group's only concern is making more money and making the dream vastly more impossible to players, and worst yet, their strategy to get bigger sales has ALWAYS been to expand the matrix again and again... add two more white balls (from 53 to 55 in 2005)... add 4 (!) more white balls (from 55 to 59 in 2009).  And yet no $300+ million jackpot in quite a few years. They should have lowered the odds with a matrix like 5/52 + 1/35, which is quite high btw, raised the price of the ticket to $2, and pay out $1 million to tickets matching the 5 white balls (they do that now only if you get the powerplay option for a $2 ticket anyway). I bet the PB jackpot would have reached $300+ million by now if they had done that.

          "They should have lowered the odds with a matrix like 5/52 + 1/35, which is quite high btw, raised the price of the ticket to $2"

          What's the difference between that and odds of 1 in 181,927,200 at $1 per ticket? If players aren't stupid, they should know that doubling the price of a ticket is the same as doubling the odds,  except that it is no longer possible to only play $1 per game.

            Halle99's avatar - Lottery-043.jpg
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            Posted: August 28, 2009, 1:39 pm - IP Logged

            Uhhh, unless you live one day in the future (and if you do, please let me know the MM numbers tomorrow) it's just Thursday. Jester

            And for the other post about PB states, it doesn't matter how many states Powerball or Mega Millions has, it's all about the total population and even with all the states Powerball has, Mega Millions still beats them out which makes how much they raised their odds a bit more of a joke. But then again the average person doesn't know or really care about the odds.

            PartyParty

             

            I can't tell you the winning numbers cos I got them already......This is my jackpot please GOD bless me and thanks again.   Good luck to all.....

            "Wait eagerly for the Lord, and keep to the way; God wil raise you to possess the land; you will gloat when the wicked are cut off".

                                                                                          Psalms 37:34

              barbos's avatar - gold bar-and-cash1.jpg
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              Posted: August 28, 2009, 3:00 pm - IP Logged

                Itz already 333 millions, yohoho, we are doing a great job.  Party

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                San Diego, CA
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                Posted: August 28, 2009, 3:10 pm - IP Logged

                  Itz already 333 millions, yohoho, we are doing a great job.  Party

                I think it will hit $350,000,000 by the time the drawing hits.

                  wizeguy's avatar - animaniacs04

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                  Posted: August 28, 2009, 3:13 pm - IP Logged

                  "They should have lowered the odds with a matrix like 5/52 + 1/35, which is quite high btw, raised the price of the ticket to $2"

                  What's the difference between that and odds of 1 in 181,927,200 at $1 per ticket? If players aren't stupid, they should know that doubling the price of a ticket is the same as doubling the odds,  except that it is no longer possible to only play $1 per game.

                  "If players aren't stupid, they should know that doubling the price of a ticket is the same as doubling the odds"

                   

                  I don't follow you here. What does the price of a ticket have to do with the odds?

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                    Posted: August 28, 2009, 3:35 pm - IP Logged

                    Your odds are determined by how many tickets you have. How many tickets you have is determined by how much money you spend and the cost of the tickets. If a ticket costs $1 and the odds are 1 in 100, then spending $2 will get you two tickets and a 1 in 50 chance of winning. If the odds are 1 in 100 but the ticket price goes up to $2, then spending $2 gets you only 1 ticket, and a 1 in 100 chance of winning. For the same $2 you've only got half as much chance of winning.

                      barbos's avatar - gold bar-and-cash1.jpg
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                      Posted: August 28, 2009, 3:40 pm - IP Logged

                      I think it will hit $350,000,000 by the time the drawing hits.

                        Yeah $340-350 mil would be a reasonable guess, what I really cannot guess is how much it would be if it rolls cause it never happened before at 350 level.  Beyond half a billion for sure.

                        RJOh's avatar - chipmunk
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                        Posted: August 28, 2009, 3:46 pm - IP Logged

                        "If players aren't stupid, they should know that doubling the price of a ticket is the same as doubling the odds"

                         

                        I don't follow you here. What does the price of a ticket have to do with the odds?

                        Back in the days when many local lotteries sold two chances to win for a dollars, the odds of winning was based on the number of dollars you spent and was printed on the back of play slips that way.  As ticket prices went up to a dollar plus per chance(or board) that way of figuring odds stopped but it's still true if you're figuring your odds of winning by the amount you pay for a ticket.  Florida has a game where the price per board decides the size of the jackpot you're playing for.

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

                          wizeguy's avatar - animaniacs04

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                          Posted: August 28, 2009, 4:38 pm - IP Logged

                          Your odds are determined by how many tickets you have. How many tickets you have is determined by how much money you spend and the cost of the tickets. If a ticket costs $1 and the odds are 1 in 100, then spending $2 will get you two tickets and a 1 in 50 chance of winning. If the odds are 1 in 100 but the ticket price goes up to $2, then spending $2 gets you only 1 ticket, and a 1 in 100 chance of winning. For the same $2 you've only got half as much chance of winning.

                          I guess I'm stupid then. I thought the odds were based solely on the number of combinations in the matrix no matter how much a ticket cost. Granted, if you play a fixed dollar amount the change of price in tickets will change your overall odds of winning but still if you buy every single combination you will only have one chance of winning out of whatever the total combinations are.

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                            Posted: August 28, 2009, 5:18 pm - IP Logged

                            The *game's* odds are based on the number of possible combinations, and the number of combinations on a single ticket. As RJ notes, some tickets give you two (or more) chances on a single ticket. The odds each player has are determined by the game odds and the number of tickets the player has for the drawing. If you have 1 ticket and I've got two, my odds are twice as good as yours (or yours are twice as bad as mine, depending on how you want to look at it), but it cost me twice as much to have those odds. If the ticket price is doubled, the same amount of money only gets me one ticket, thus doubling the odds I get for the same expenditure.