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POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOT

Topic closed. 567 replies. Last post 1 year ago by AbsolutelyFun.

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New Member
Toronto
Canada
Member #170682
December 12, 2015
31 Posts
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Posted: January 10, 2016, 10:08 am - IP Logged

1.3 Billion? 

Time for a short trip across the border.

    travelintrucker's avatar - morph
    Greenville, SC
    United States
    Member #169870
    November 4, 2015
    374 Posts
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    Posted: January 10, 2016, 10:09 am - IP Logged

    I sure hope people aren't cashing out their 401Ks and IRAs trying to win this HUGE jackpot!

    May the balls bounce in your favor!

      MzDuffleBaglady's avatar - Lottery-018.jpg

      United States
      Member #81314
      October 16, 2009
      19427 Posts
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      Posted: January 10, 2016, 10:10 am - IP Logged

      What else in this world would make majority spend $2.00-?????

       

      Good Luck.

      The Struggle is real!

        Nodda4me's avatar - LhDlsh8
        Roanoke, VA
        United States
        Member #133540
        October 2, 2012
        8309 Posts
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        Posted: January 10, 2016, 10:11 am - IP Logged

        I sure hope people aren't cashing out their 401Ks and IRAs trying to win this HUGE jackpot!

        I put in $10 yesterday. I'll put $10 in for this one.

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          Simpsonville
          United States
          Member #163189
          January 22, 2015
          700 Posts
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          Posted: January 10, 2016, 10:15 am - IP Logged

          1.3 Billion? 

          Time for a short trip across the border.

          How does the tax liability apply to Canadians?  I understand no taxes are taken out of lottery win there, then again your country is way ahead of the USA in many ways, i.e. metric system, healthcare.  But not here to discuss politics, have a great trip across the border...where do you play?  New Hampshire or Maine???

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            United States
            Member #171275
            January 5, 2016
            105 Posts
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            Posted: January 10, 2016, 10:22 am - IP Logged

            I got the following as "lottery advice" emailed me today from a friend:

            If Wednesday night you find you are holding the winning ticket - (before anyone finds out) - immediately call everyone you know.  Tell them you have an emergency and need to borrow $500.  They will likely all ignore you.  This will come in handy in a few weeks when they find out you won and will do 2 things for you.

            1.  it will make it much harder for them to ask to borrow money from you &
            2.  it will tell you who your real friends are so you can share with those in the 2nd column.

            Wow that is the most awesome thing I've read on this website thus far besides recently that the JP was going to be $1.3Billion.

            Thanks! Can't wait to make those phone calls. Hahahahahaha

              MzDuffleBaglady's avatar - Lottery-018.jpg

              United States
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              October 16, 2009
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              Posted: January 10, 2016, 10:22 am - IP Logged

              I sure hope people aren't cashing out their 401Ks and IRAs trying to win this HUGE jackpot!

              I Agree!

              The Struggle is real!

                travelintrucker's avatar - morph
                Greenville, SC
                United States
                Member #169870
                November 4, 2015
                374 Posts
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                Posted: January 10, 2016, 10:25 am - IP Logged

                LPers are thinking ahead.

                May the balls bounce in your favor!

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                  New Member
                  Toronto
                  Canada
                  Member #170682
                  December 12, 2015
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                  Posted: January 10, 2016, 10:26 am - IP Logged

                  How does the tax liability apply to Canadians?  I understand no taxes are taken out of lottery win there, then again your country is way ahead of the USA in many ways, i.e. metric system, healthcare.  But not here to discuss politics, have a great trip across the border...where do you play?  New Hampshire or Maine???

                  I have to say that I am not a CPA but I have done some research into the matter. This is what I have come up with.  Although Canadians don't pay taxes on lottery winnings, I would still by liable to pay US federal taxes on lottery winnings.

                    travelintrucker's avatar - morph
                    Greenville, SC
                    United States
                    Member #169870
                    November 4, 2015
                    374 Posts
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                    Posted: January 10, 2016, 10:30 am - IP Logged

                    I've talked about this before, I don't think it's going to be possible. Huge public outcry and politicians may get involved. The winner(s) trying to stay anonymous after winning this jackpot could end up screwing things up for everyone trying to remain anonymous through law, trusts, and LLCs.

                    May the balls bounce in your favor!

                      realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

                      United States
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                      February 27, 2011
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                      Posted: January 10, 2016, 10:32 am - IP Logged

                      this is really stupid because no matter who wins the next jackpot, we now know that same thing can happen again. another long run to a big jackpot that takes peoples money just to make a few millionaires (or one single billionaire)..what is really the purpose of this isht... to make money for the lottery and the states that allow it...median individual income in us is $24,000..median household is $52,000..just dangle a billion dollar carrot jackpot and suckers will buy it at $2 a ticket. there is a sucker born every minute.

                      I equate a sucker to someone being gullible.  Playing a ticket or two, if the cash is available, is no different than going to a movie or going to a restaurant.  It's entertainment.  And for two bucks it is cheap entertainment in my opinion.  It has nothing to do with median household income.  I know of people making less pooling their quarters to buy one ticket.  Yes they know the unlikelihood of winning, but for twenty five cents they were able to put their a smile on their face for a few days.  I also know someone who caps out the income tax scale who played.  Does he expect to win, no.  Is he gullible, hence a 'sucker'?  Far from it.  IT'S ENTERTAINMENT!

                      Rant

                        I'm feeling a jackpot win coming my way!

                        Romancandle's avatar - moon
                        Upacreek
                        United States
                        Member #136306
                        December 8, 2012
                        431 Posts
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                        Posted: January 10, 2016, 10:59 am - IP Logged

                        Pinch me... 1.3 ... Really?

                        These next few day are going to be a wild ride...

                        -RC

                          savagegoose's avatar - ProfilePho
                          adelaide sa
                          Australia
                          Member #37136
                          April 11, 2006
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                          Posted: January 10, 2016, 11:06 am - IP Logged

                          here is my perception of the likely hood of the game being won. the odds being 292 million to 1 means if 292 million tickets are sold then there is a %67 chance  gets hit.  because a good chance there will be multiple repeat numbers. now just need to figure how much the jackpot goes up from 29 2 million ticket sold. to  say there is %100 chnace  ever is impossible. but 3x 292 or or 876million ticts sold in draw would be almost certin  it will get won but under stand this fact. the chance of it not getting won at 876 million tickets sold is much better than your personal chance of winning

                          2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = ?  TOT =  -3596

                          keno historic = -2291 ; 2015= -603; 2016= -424; 2017 = ? TOT = - 3318

                            realtorjim's avatar - images q=tbn:ANd9GcT7U3t20NgScoPlxOqLT6TR0vQeJNBV3_tTswe1XeFDTsdw3NLZ

                            United States
                            Member #106923
                            February 27, 2011
                            479 Posts
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                            Posted: January 10, 2016, 11:09 am - IP Logged

                            Hopefully someone who wins this and if there is a sole winner is in a state that they can stay anonymous.

                            You are hopeful for a sole winner in a state that can stay anonymous; I can be a sole winner in a state that can stay anonymous!    I graciously accept the privilege... and am humbled.

                            Leaving

                              I'm feeling a jackpot win coming my way!

                              SANKORE's avatar - ChemDawg3
                              NYC
                              United States
                              Member #16934
                              June 7, 2005
                              278 Posts
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                              Posted: January 10, 2016, 11:11 am - IP Logged

                                 
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