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$337 million Powerball jackpot ticket sold at gas station in small Michigan city

Topic closed. 131 replies. Last post 4 years ago by mcginnin56.

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RJOh's avatar - chipmunk
mid-Ohio
United States
Member #9
March 24, 2001
19822 Posts
Offline
Posted: August 17, 2012, 4:37 pm - IP Logged

I hope whoever won this powerball is not coming forward because he/she is consulting with an attorney.  I also hope that he/she has a lot more common sense than what we've seen with some other powerball winners, and doesn't turn into a jack whittaker, dave edwards or Mr. fick.

Someone should do a 5-10 year follow through with this winner, to show the typical problems that arise when someone wins millions.  The state governments & the lottery are apparently happily oblivious to the life changing forces that come at a lottery winner hard, which is why they require disclosure of the winner's name & city.  If it can be documented how horribly a lottery winners life changes (no privacy, assailed by money grubbing relatives, scam artists, beggars, sellers of high end items, charities, subject to stalking, theft of mail & car, burglary, kidnapping, death threats, lose friends, lose family, etc) by being forced to be a public figure, maybe they can finally stop with this idiotic disclosure requirement.

People who aren't that smart play lotteries too, their chances of winning are probably as good as the smart ones. 

It shouldn't be a surprise to anyone what happens to the ones that aren't that smart, there are all kinds of stories on the Internet about them, just google "lottery winners".

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

    Avatar
    Texas
    United States
    Member #111057
    May 17, 2011
    33 Posts
    Offline
    Posted: August 17, 2012, 4:45 pm - IP Logged

    I have just updated the news story to reflect the exact cash value reported to me by MUSL — $244,655,690.17.  (i.e., $244.7 million.)

    It's the second-highest cash value in history — even higher than the $380 million Mega Millions jackpot on Jan. 4, 2011, when the cash value was $240 million.  I'm really shocked by that, because Mega Millions almost always has a bigger cash value-to-annuity ratio, because of its fixed annuity (vs. Powerball's annually-increasing annuity), as well as Mega Million's shorter annuity period.

    If annuity rates were not doing so poorly as they are in this horrendous economy, the advertised jackpot (annuity) would have been crazy-high.

    That sure is a HUGE interest rate swing/drop from Saturday to Wednesday!  Or, based on their further projections, even more dramatic from only Tuesday to Wednesday.

    To simplify, rather than calculating the annuity interest rate for everyone here, just compare the percentage that the cash value is of the jackpot value for the prior week:

    Cash Value / Jackpot = Percentage

    123   / 181 = 68.0%

    142.9 / 212 = 67.4%

    170.5 / 253 = 67.4%

    203.3 / 305 = 66.7%

    213.3 / 320 = 66.7%

    Pretty consistent, isn't it? (Albeit, on a downward trend.)  Until....

    244.7 / 337 = 72.6%  !!!

    And then, after the reset...

    26.7 / 40 = 66.8%

    That doesn't make sense.  (Although it is to the benefit of the winner...  Taking a given jackpot amount, a lower interest rate gives a higher cash value.  Granted, it should be calculated from the current cash value to the jackpot amount - a lower interest rate gives a lower jackpot amount - but it is always communicated in the other direction, from jackpot to cash value.)

    Something fishy is going on here as interest rates didn't change overnight like that and then bounce right back to where they were.  So somebody messed up.  Either dishonestly or irresponsibly.  If the cash they took in for each draw is accurate, then their jackpot estimate should have been around $360 million, not $337 million.

      Avatar
      nanaimo,bc
      Canada
      Member #93110
      June 21, 2010
      26 Posts
      Offline
      Posted: August 17, 2012, 4:50 pm - IP Logged

      maringoman, i totally agree with you and i like mcginnin's comments too

        Avatar
        Elgin, IL
        United States
        Member #93542
        July 2, 2010
        318 Posts
        Offline
        Posted: August 17, 2012, 5:32 pm - IP Logged

        Anyone else pissed ?I am .

        It's normal. Every loser is pissed, but you get over it real quick.

          Piaceri's avatar - sarsony1
          Republic of Texas
          United States
          Member #57557
          January 9, 2008
          1095 Posts
          Offline
          Posted: August 17, 2012, 5:35 pm - IP Logged

          I got to thinking... there is another big winner off that stretch of I-69 in Michigan (Flint to Port Huron). I'm not sure of the city, though. Does anyone else remember this? It had to be Mega Millions because MI hasn't had PB all that long, and it was more than 3 or 4 years ago.

          face

          singlewinnersinglewinnersinglewinner   

            Avatar
            wisconsin
            United States
            Member #130754
            July 23, 2012
            198 Posts
            Offline
            Posted: August 17, 2012, 5:40 pm - IP Logged

            I like hearing about major jackpots being won out of some little joint out in the middle of nowhere cuz that's where I buy my tickets.

            So if you ever hear of a winner being sold at "Buford's Septic Sludge Pumping & Cafe", it might just be me.

            I heard they serve some wicked chili there.

             

            LOL

              hearsetrax's avatar - 0118

              United States
              Member #52345
              May 21, 2007
              2657 Posts
              Offline
              Posted: August 17, 2012, 5:44 pm - IP Logged

              I heard they serve some wicked chili there.

               

              LOL

              I hear they reversed engineered Rdg's receipe


                United States
                Member #111442
                May 25, 2011
                6323 Posts
                Offline
                Posted: August 17, 2012, 6:18 pm - IP Logged

                hahaha man it seems you're swinging punches at everyone lately lol what's up with that?

                Some people love to discuss lottery topics. I prefer to read than to comment but thats just me.  I ain't bothered by active commenters. 

                They contribute to the conversation and you should thank them otherwise this website would be another boring forum.

                I personally like mcginnin56 as he does not drag everything into politics. I come here to escape politics Wink

                Thank you for the positive input maringoman!  Cheers

                 

                One thing I have always recognized is that we are all one big melting pot of individuals here, who choose to express ourselves in often unique ways.

                There are some members who rarely make their views known in the way of a post. Then others such as myself, who comment on lottery topics as

                well as the other numerous sides of human events. I'm happy that I do not fit into some convenient cookie cutter mold, of the good little LP member.


                For those that are offended by my frequency of comments, whether lottery related or not, I make no apologies. That is my personality, and my take

                on life's never ending story of triumphs and tragedies. There is no perfect system to accommodate a forum such as this. My hope would be that we

                could learn to tolerate each others views, politics included, agree to disagree, and have a lot of entertaining fun at the same time! Banana   Lurking


                  United States
                  Member #111442
                  May 25, 2011
                  6323 Posts
                  Offline
                  Posted: August 17, 2012, 6:23 pm - IP Logged

                  maringoman, i totally agree with you and i like mcginnin's comments too

                  Thank you nanaimo!  Embarassed

                  I'll be sending you that $20 we discussed, for supporting my positions today.  LOL   Mail For You

                    Jill34786's avatar - Lottery-006.jpg
                    Windermere, FL/Franklin, TN
                    United States
                    Member #50210
                    March 1, 2007
                    843 Posts
                    Offline
                    Posted: August 17, 2012, 8:12 pm - IP Logged

                    I have just updated the news story to reflect the exact cash value reported to me by MUSL — $244,655,690.17.  (i.e., $244.7 million.)

                    It's the second-highest cash value in history — even higher than the $380 million Mega Millions jackpot on Jan. 4, 2011, when the cash value was $240 million.  I'm really shocked by that, because Mega Millions almost always has a bigger cash value-to-annuity ratio, because of its fixed annuity (vs. Powerball's annually-increasing annuity), as well as Mega Million's shorter annuity period.

                    If annuity rates were not doing so poorly as they are in this horrendous economy, the advertised jackpot (annuity) would have been crazy-high.

                    I was shocked to see the cash value go that high! Prior to the last minute bump to $337 million, the cash value on the $320 million jackpot was $213.3 million. What I find confusing is that the Annuity went up $17 million while the cash value jumped to $244,665,690 a boost of $31.3 million from the previous cash value.

                    I have the same sentiments as Todd as to the cash value-to-annuity ratio. This was indeed very similar to MM's jackpot-cash value ratio.

                      Jill34786's avatar - Lottery-006.jpg
                      Windermere, FL/Franklin, TN
                      United States
                      Member #50210
                      March 1, 2007
                      843 Posts
                      Offline
                      Posted: August 17, 2012, 8:15 pm - IP Logged

                      That sure is a HUGE interest rate swing/drop from Saturday to Wednesday!  Or, based on their further projections, even more dramatic from only Tuesday to Wednesday.

                      To simplify, rather than calculating the annuity interest rate for everyone here, just compare the percentage that the cash value is of the jackpot value for the prior week:

                      Cash Value / Jackpot = Percentage

                      123   / 181 = 68.0%

                      142.9 / 212 = 67.4%

                      170.5 / 253 = 67.4%

                      203.3 / 305 = 66.7%

                      213.3 / 320 = 66.7%

                      Pretty consistent, isn't it? (Albeit, on a downward trend.)  Until....

                      244.7 / 337 = 72.6%  !!!

                      And then, after the reset...

                      26.7 / 40 = 66.8%

                      That doesn't make sense.  (Although it is to the benefit of the winner...  Taking a given jackpot amount, a lower interest rate gives a higher cash value.  Granted, it should be calculated from the current cash value to the jackpot amount - a lower interest rate gives a lower jackpot amount - but it is always communicated in the other direction, from jackpot to cash value.)

                      Something fishy is going on here as interest rates didn't change overnight like that and then bounce right back to where they were.  So somebody messed up.  Either dishonestly or irresponsibly.  If the cash they took in for each draw is accurate, then their jackpot estimate should have been around $360 million, not $337 million.

                      I Agree! Glad I'm not the only one who found it odd. What? The Annuity should have been $367 million for the 66.7% ratio to work out.

                        djjimmyray2007's avatar - ummm
                        New Member

                        United States
                        Member #97394
                        September 16, 2010
                        14 Posts
                        Offline
                        Posted: August 17, 2012, 8:18 pm - IP Logged

                        Here is a good question....Did he pick his own numbers or did he do an EZ-PICK???What?


                          United States
                          Member #111442
                          May 25, 2011
                          6323 Posts
                          Offline
                          Posted: August 17, 2012, 8:23 pm - IP Logged

                          Here is a good question....Did he pick his own numbers or did he do an EZ-PICK???What?

                          He, she or they, could have played both types of bets. Unless that question comes up during an interview, or it is voluntarily give by the winner(s),

                          we'll probably never know. Roll Eyes

                            Colt45ML's avatar - 4eyes
                            Jawja
                            United States
                            Member #87469
                            February 25, 2010
                            109 Posts
                            Offline
                            Posted: August 17, 2012, 8:51 pm - IP Logged

                            I know,,it should have been detroit...but wait, detroit has a lot of.........

                             

                            congrats to the winners!!

                            Not enough powerball tickets sold in Detroit.  Same with mega millions.

                            Cash 3 & 4, plus scratch offs almost exclusively.

                            Be sassy and be happy.

                              Avatar
                              New Member
                              Albertville, Alabama
                              United States
                              Member #131759
                              August 17, 2012
                              1 Posts
                              Offline
                              Posted: August 17, 2012, 9:11 pm - IP Logged

                              I just really, REALLY wish we had the lottery in Alabama. It would have been nice to have a shot at it without having to drive out of state to do buy a ticket! Congrats to the big Winner from my home state of Michigan!