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$400 MILLION: Powerball jackpot skyrockets

Topic closed. 259 replies. Last post 3 years ago by mypiemaster.

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Egg Harbor twp.south Jersey shore
United States
Member #112968
June 29, 2011
3855 Posts
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Posted: August 4, 2013, 7:39 pm - IP Logged

I'll buy my usual 2 draw ticket w/PP on Tues. along w/my other regular Tix.

Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

    stunna6036's avatar - Lottery-033.jpg
    chicago,il
    United States
    Member #141327
    April 11, 2013
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    Posted: August 4, 2013, 7:40 pm - IP Logged

    Will have to roll Wed and roll agaian Saturday to beat the Mega JP record. Especially the cash value record which was 471 mill when the MM record was set. When the MM record was set the annuity value was 656 mill and the cash value was 471 mill which was almost 72% of the annuity. Right now there saying 400 mill annuity with cash value at 230 mill which is a little under 58% of the annuity. at that rate it would take an annuity of over 800 mill to break the cash record. Need to have 2 rollovers to get to that.

    Given that the cash values of these current jackpots are lower than previous years does taking the annuity payments become more attractive. I know most people always take the cash option but it seems as if the cash option is getting lower and lower with respect to the current jackpot(annuity) to cash ratio. .........

      realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

      United States
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      February 27, 2011
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      Posted: August 4, 2013, 7:40 pm - IP Logged

      I Agree!   Thats my plan.I'm only one person,though.It will take millions of people to teach them a lesson.

      I understand your sentiment Cletu$, however skyrocketed jackpots will draw the players.  And even though I certainly disagree with the greed driven changes in the MegaMillions lottery I am sure I will still play (partially due to greed on my part) when the jackpot is huge, which after a couples of months will be every drawing.  I do plan to cut down, however, on the number of tickets I purchase.  I just need to keep reiterating to myself it only takes one to win, and only buy one ticket. 

      Bang Head

        realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

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        February 27, 2011
        478 Posts
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        Posted: August 4, 2013, 7:58 pm - IP Logged

        Given that the cash values of these current jackpots are lower than previous years does taking the annuity payments become more attractive. I know most people always take the cash option but it seems as if the cash option is getting lower and lower with respect to the current jackpot(annuity) to cash ratio. .........

        Though I am not an attorney nor a CPA and therefore certainly am not offering legal or financial advice, a downfall can be when an annuity recipient dies.  Taxes on the entire remaining amount can become due immediately, even though the amount still has many years of payouts remaining.  If this is the latter years it may not be a problem but if someone dies in the early years it could become a nightmare.  Before someone says but you can... yes, trusts can be set up to claim the prize possibly, etc. but not all states allow this, and you as the recipient give up control of the trust to another in those states that do allow it.  Cash is Cash, and if you blow it, that is your mistake.  But at least it was your mistake to make, and not given to the IRS.

          rdgrnr's avatar - walt
          Way back up in them dadgum hills, son!
          United States
          Member #73904
          April 28, 2009
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          Posted: August 4, 2013, 9:24 pm - IP Logged

          Thats pretty neat!!

          There should be a ton of players for the next one.

          I'll have to Share This Story for the Coupon-Codes-Bonus-Codes users.

          They will just love the story.

          Thanks for the Qaulity Stories LotteryPost.com people.

          Spam.Spam

            rdgrnr's avatar - walt
            Way back up in them dadgum hills, son!
            United States
            Member #73904
            April 28, 2009
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            Posted: August 4, 2013, 9:26 pm - IP Logged

            Does anybody know if there are stats or lines on for who the host will be.

            Also what is that girls name? Lexa or Alexa?

            I know the guys name is Sam. Thats the easy one.

            We play a 'just for fun' guessing game at my contact site for "Who will tonight's host be"

            click on my 'Name' to view my 'Member Info'

            Spama-lama Spam

              rdgrnr's avatar - walt
              Way back up in them dadgum hills, son!
              United States
              Member #73904
              April 28, 2009
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              Posted: August 4, 2013, 9:27 pm - IP Logged

              Oh yeah. I'll stop back over and post it if i win seven dollars.

              LOL

              Im generally not even that lucky. but hay "You Can't Win Powerball, Unless You Play Powerball"

              Spama-lama-ding-dong Spam

                Coin Toss's avatar - shape barbed.jpg
                Zeta Reticuli Star System
                United States
                Member #30470
                January 17, 2006
                10351 Posts
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                Posted: August 4, 2013, 9:31 pm - IP Logged

                The new Mega Million format will be very reminiscent of the Ohio Classic; absolutely no winners in a year or more. Teach the people running Mega Millions a lesson; boycott the game.

                bluefox10, CLETU$,

                It's a nice thought but will never happen, and those running Mega Millions know it.

                A lot of people here on LP swore they would boycott Powerball when it went from $1 to $2. Guess who some of the people are posting in the PB jackpot fever threads?

                Scared

                 

                If a lottery did a marketing test and offered a "No one can win this lottery so don't buy a ticket" promotion people would still buy tickets for it.

                Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                Lep

                There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                  Piaceri's avatar - sarsony1
                  Republic of Texas
                  United States
                  Member #57557
                  January 9, 2008
                  1095 Posts
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                  Posted: August 4, 2013, 9:54 pm - IP Logged

                  "Single ticket winner"..... is actually a MISNOMER. Any jackpot sold in the good ol' US of A is shared between-the winner and the feds, and/or the state, and/or the city or municipality. The best way to look at it is........a married person living together, buys a jackpot winning ticket, decides out of greed or whatever, not to tell the spouse. The spouse finds out, sues, and an A-HOLE judge awards the whole jackpot to the spouse who sued. The spouse that won the case, now divorces the greedy spouse that actually won the jackpot in the first place, without any fear of sharing the loot as part of marital assets. NOW, THATS WHAT I CALL, "SINGLE TICKET WINNER". Deep but total BS.

                  Don't know about you, but I don't "share" with the govt. They confiscate what they think is fair with no regard for my opinion. On the other hand, I do share with the govt when I purchase items that are sales taxable. My choice, not theirs.

                  Single ticket winner = one winning ticket holder. Like Gloria MacKenzie. Single Ticket Winner. Makes the greed of envy folks' heads explode.

                  face

                  singlewinnersinglewinnersinglewinner   

                    RJOh's avatar - chipmunk
                    mid-Ohio
                    United States
                    Member #9
                    March 24, 2001
                    19826 Posts
                    Online
                    Posted: August 4, 2013, 9:55 pm - IP Logged

                    Though I am not an attorney nor a CPA and therefore certainly am not offering legal or financial advice, a downfall can be when an annuity recipient dies.  Taxes on the entire remaining amount can become due immediately, even though the amount still has many years of payouts remaining.  If this is the latter years it may not be a problem but if someone dies in the early years it could become a nightmare.  Before someone says but you can... yes, trusts can be set up to claim the prize possibly, etc. but not all states allow this, and you as the recipient give up control of the trust to another in those states that do allow it.  Cash is Cash, and if you blow it, that is your mistake.  But at least it was your mistake to make, and not given to the IRS.

                    If you read the Q & A section of their website that situation is addressed.  The remaining part of your annuity is paid in a lump sum to your estate allowing the family to settle any tax claims.

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

                      realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

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                      Posted: August 4, 2013, 9:57 pm - IP Logged

                      bluefox10, CLETU$,

                      It's a nice thought but will never happen, and those running Mega Millions know it.

                      A lot of people here on LP swore they would boycott Powerball when it went from $1 to $2. Guess who some of the people are posting in the PB jackpot fever threads?

                      Scared

                       

                      If a lottery did a marketing test and offered a "No one can win this lottery so don't buy a ticket" promotion people would still buy tickets for it.

                      I Agree!

                      You mentioned a lottery where no one can win... where can I get a ticket for that?

                        RJOh's avatar - chipmunk
                        mid-Ohio
                        United States
                        Member #9
                        March 24, 2001
                        19826 Posts
                        Online
                        Posted: August 4, 2013, 10:13 pm - IP Logged

                        The new Mega Million format will be very reminiscent of the Ohio Classic; absolutely no winners in a year or more. Teach the people running Mega Millions a lesson; boycott the game.

                        Before PB and BigGame became available in neighboring states, Ohio had almost the same matrix with its Super Lotto Plus game (6/49 +1) and jackpots of $40M+ never went more than a month before being won because players from the neighboring states regularly came to Ohio to play.  If Classic Lotto had the same number of players today, it would be won in 3-4 drawings.

                        MegaMillions with its new matrix of 5/75 + 1/15 will have players from 42 states and they won't have to travel out of state to play.

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

                          miracleplay5's avatar - web
                          Orange County, Florida
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                          September 27, 2011
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                          Posted: August 4, 2013, 10:38 pm - IP Logged

                          I am not asking for the name of the site but isnt there a site where one can wager whether or not there will be a jackpot winner on Wednesday?

                          Pay less, win more & world peaceSee Ya!

                          "No one cares how much you know until they know how much you care"-Theodore Rooosevelt

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                            Posted: August 4, 2013, 10:56 pm - IP Logged

                            I said I would be back when the jackpot got this high again, and here I am! Still dreaming about that full on movie theater in my house. You guys ever watch "Million Dollar Rooms" by HGTV? http://www.youtube.com/watch?v=OMIXRGS7z7w

                            That show has brought me over to the "design your own house" side.

                              maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
                              Massachusetts
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                              Posted: August 4, 2013, 11:09 pm - IP Logged

                              I saw this on ABC News.

                              The other "secret" was that majority of jp winning tickets are quick picks. But they added that close to 80% of the players do quick picks.

                              That money's gone fo ever

                                 
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