Welcome Guest
Log In | Register )
You last visited December 4, 2016, 5:20 pm
All times shown are
Eastern Time (GMT-5:00)

POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOT

Topic closed. 567 replies. Last post 11 months ago by AbsolutelyFun.

Page 34 of 38
4.97
PrintE-mailLink
ecnirP's avatar - prince symbol_black-mini.jpg
Farmington Hills
United States
Member #46576
September 15, 2006
39 Posts
Offline
Posted: January 11, 2016, 5:50 pm - IP Logged

I am surprised that TLC is not running a "Lottery Changed My Life" marathon now, ratings would be through the roof!

There are three episodes listed for Saturday morning. Love that show. I particularly like the story of the youngest jackpot winner in Florida's history. After the deposit was made to his account, he said he spent the whole afternoon calling the bank's automated system, listening to his balance, hanging up, repeating. I could see myself doing that.

By the way, with ~6,900 banks in the U.S., and assuming we go back to $100,000 FDIC insurance, we're getting really close to not having enough banks to put the cash payout in. Something to think about.

    Avatar

    United States
    Member #170707
    December 13, 2015
    185 Posts
    Offline
    Posted: January 11, 2016, 5:59 pm - IP Logged

    There are three episodes listed for Saturday morning. Love that show. I particularly like the story of the youngest jackpot winner in Florida's history. After the deposit was made to his account, he said he spent the whole afternoon calling the bank's automated system, listening to his balance, hanging up, repeating. I could see myself doing that.

    By the way, with ~6,900 banks in the U.S., and assuming we go back to $100,000 FDIC insurance, we're getting really close to not having enough banks to put the cash payout in. Something to think about.

    I would be glad to do an episode featuring my new life with my new friend OprahCheers

      Avatar
      New Member
      Alabama
      United States
      Member #171517
      January 9, 2016
      9 Posts
      Offline
      Posted: January 11, 2016, 6:09 pm - IP Logged

      I wonder how sales of the $15M Mega Millions lottery are doing this week.

      Greetings ....

      At first I thought about skipping Tuesday's Mega Millions to play extra Powerball numbers. Then I decided that I would stick with my pre-picked Powerball numbers and buy a  couple of Mega Millions tickets. My reasoning -- if I happen to have a significant win on Tuesday's Mega Millions, then I'll get out early Wednesday Morning to play extra Powerballs.

      Besides -- The Mega Millions $ 15 million annuitized jackpot may be modest compared to PowerBall's, but it would pay rent quite nicely just the same.

      Thanx-A-Lot, Best of Luck and Please Remember to Always Play Responsibly

      Frank0Sport16

        BBLL's avatar - audi r8-wallpaper-bla
        Chicago
        United States
        Member #122762
        February 7, 2012
        160 Posts
        Offline
        Posted: January 11, 2016, 6:13 pm - IP Logged

        There are three episodes listed for Saturday morning. Love that show. I particularly like the story of the youngest jackpot winner in Florida's history. After the deposit was made to his account, he said he spent the whole afternoon calling the bank's automated system, listening to his balance, hanging up, repeating. I could see myself doing that.

        By the way, with ~6,900 banks in the U.S., and assuming we go back to $100,000 FDIC insurance, we're getting really close to not having enough banks to put the cash payout in. Something to think about.

        Just multiple accounts Hurray!

          Lucki723's avatar - Lottery-011.jpg
          Florida
          United States
          Member #62713
          July 6, 2008
          3715 Posts
          Offline
          Posted: January 11, 2016, 6:13 pm - IP Logged

          If there is only 1 winner, he or she will also make the Forbes list . Cheers

          Keep moving Forward.

            savagegoose's avatar - ProfilePho
            adelaide sa
            Australia
            Member #37136
            April 11, 2006
            3300 Posts
            Offline
            Posted: January 11, 2016, 6:20 pm - IP Logged

            I'm with you on that, bunch of naysayers.  I tone it out.  The media should run a quick story on how many people won any USA lottery in say last five years.

            when confonted with such negative comments, say"  thats great, I didnt even buy a ticket "

            2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

            keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

              savagegoose's avatar - ProfilePho
              adelaide sa
              Australia
              Member #37136
              April 11, 2006
              3300 Posts
              Offline
              Posted: January 11, 2016, 6:28 pm - IP Logged

              I wonder how sales of the $15M Mega Millions lottery are doing this week.

              i go halves  in 1 ticket ea draw guess im the only one playing

              2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

              keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

                Avatar
                New Member

                United States
                Member #171659
                January 10, 2016
                11 Posts
                Offline
                Posted: January 11, 2016, 6:44 pm - IP Logged

                IIRC it doesn't work that way. Multiple accounts

                 

                FDIC insurance.

                  ohiopick3's avatar - Lottery-063.jpg
                  Ohio
                  United States
                  Member #3023
                  December 14, 2003
                  4166 Posts
                  Offline
                  Posted: January 11, 2016, 6:47 pm - IP Logged

                  Hello:

                  I seen on newsnet5.com in Cleveland that the Fed is 39.6, they say Ohio state tax would be 5.33 and my local city tax is 2.5.

                  So it is actually 47.43 estimated. I just rounded it off to 48.

                  — ohiopick3

                    Avatar

                    United States
                    Member #170707
                    December 13, 2015
                    185 Posts
                    Offline
                    Posted: January 11, 2016, 7:12 pm - IP Logged

                    Hello:

                    I seen on newsnet5.com in Cleveland that the Fed is 39.6, they say Ohio state tax would be 5.33 and my local city tax is 2.5.

                    So it is actually 47.43 estimated. I just rounded it off to 48.

                    — ohiopick3

                    50% tax! bummer!No Nod

                      Groppo's avatar - cat anm.gif

                      United States
                      Member #162631
                      January 7, 2015
                      502 Posts
                      Offline
                      Posted: January 11, 2016, 7:14 pm - IP Logged

                      Greetings ....

                      At first I thought about skipping Tuesday's Mega Millions to play extra Powerball numbers. Then I decided that I would stick with my pre-picked Powerball numbers and buy a  couple of Mega Millions tickets. My reasoning -- if I happen to have a significant win on Tuesday's Mega Millions, then I'll get out early Wednesday Morning to play extra Powerballs.

                      Besides -- The Mega Millions $ 15 million annuitized jackpot may be modest compared to PowerBall's, but it would pay rent quite nicely just the same.

                      Thanx-A-Lot, Best of Luck and Please Remember to Always Play Responsibly

                      Frank0Sport16

                      .

                      Please, never think about skipping one or the other lottos.
                      They both go together like peanut butter and jelly.

                      Like Lucy and Ricky,
                      Like Beavis and Butthead

                       

                       

                       

                      (hey Groppo, last week you were talking about quitting any lottos. What happened to that?)

                        Avatar
                        Chicago
                        United States
                        Member #171107
                        December 31, 2015
                        77 Posts
                        Offline
                        Posted: January 11, 2016, 7:20 pm - IP Logged

                        .

                        Please, never think about skipping one or the other lottos.
                        They both go together like peanut butter and jelly.

                        Like Lucy and Ricky,
                        Like Beavis and Butthead

                         

                         

                         

                        (hey Groppo, last week you were talking about quitting any lottos. What happened to that?)

                        Not sure if poster your quoting has same line of thinking as me but

                        PB price increase has made Mega my preferred national jackpot game which I play when pot goes over 100M


                        $1 a line > $2 a line

                        Sad thing is this jackpot is likely to make Mega follow suit soon enough and that will likely mean even less Mega/PB play from me

                        Cant afford to fit in 3 Lotto's weekly on my budget. I play $9 on Illinois Lotto + $2-20 on Scratch offs so spending $ on Mega/PB just a little to hard to justify

                          Teddi's avatar - Lottery-008.jpg

                          United States
                          Member #142499
                          May 13, 2013
                          1182 Posts
                          Offline
                          Posted: January 11, 2016, 7:29 pm - IP Logged

                          The issue of future tax rates and their impact on your net return down the road is valid and I'm not knocking anyone's argument or knowledge/skills in this area.

                          But, in reality, with the numbers being what they are---and certain to climb--what difference does it really make?

                          Here in Ohio the current net cash payout is just over $572 million. With the annuity payments the first year is almost $14 million. Which by itself means my family and my children's future families will be set for life, barring the insane need (which we don't have) for 100 luxury vehicles and a dozen water-front palaces.

                          With stair-step yearly increases starting at about $500,000 and ending at year 30 at almost three million, I'm simply not caring that much what the future holds on the tax front.

                          For me the real headache would be dealing with an immediate payment of $572 million to wrap my head around and find professional help to manage it.

                          If there ends up being multiple winners of 4 or 5 sharing the prize that could adjust my thinking.

                          But for now, I'll take the annuity please.

                          I get what you're saying, and you are in fact one of the few people who would choose an annuity who has a valid argument. You at least recognize you will probably pay more in taxes later on with the annuity. 

                          And I've also considered doing that for the same reason, but the thing I always come back to is this: I don't want to give a single cent more in taxes than I absolutely have to. Many states are imposing or trying to impose luxury taxes, high net worth taxes, additional lottery taxes. It would really irritate the crap out of me if I made it to years 20 through 29, and end up with less in payments than my first years because of all the additional taxes that got imposed. Here I am expecting $60 million checks and only getting to deposit $5 million.

                          Whether you take the CV or annuity, people will think you have access to about $1 billion and will hound you regardless. 

                          If you spent a bit more time and effort to get teams that are used to handling sudden wealth, you might find it's not as scary as you think. Even if it's still scary, wouldn't you rather your money go to worthy causes of your choice instead of the IRS?

                          I might wake up early and go running.  I might also wake up and win the lottery.

                          The odds are about the same.

                            Teddi's avatar - Lottery-008.jpg

                            United States
                            Member #142499
                            May 13, 2013
                            1182 Posts
                            Offline
                            Posted: January 11, 2016, 7:35 pm - IP Logged

                            GYM RICE,

                            I thought that taking the annuity saved one from excess taxes.

                            If you wouldn't mind, please explain the way you see it,
                            so a 5 year old can understand it.

                            Don't know if you got a reply but only the cash option locks you in to what the taxes are now. Annuities are subject to any changes in tax laws. You can expect that taxes will continue on their upward trajectory on federal and state levels. Actually, there doesn't even have to be a federal increase for you to pay more. Doesn't even have to be a statewide tax. Just has to be a tax on lottery winnings as one state has already done recently. Annuities always fall within that snare.

                            I might wake up early and go running.  I might also wake up and win the lottery.

                            The odds are about the same.

                              Avatar

                              United States
                              Member #170707
                              December 13, 2015
                              185 Posts
                              Offline
                              Posted: January 11, 2016, 7:37 pm - IP Logged

                              Not sure if poster your quoting has same line of thinking as me but

                              PB price increase has made Mega my preferred national jackpot game which I play when pot goes over 100M


                              $1 a line > $2 a line

                              Sad thing is this jackpot is likely to make Mega follow suit soon enough and that will likely mean even less Mega/PB play from me

                              Cant afford to fit in 3 Lotto's weekly on my budget. I play $9 on Illinois Lotto + $2-20 on Scratch offs so spending $ on Mega/PB just a little to hard to justify

                              I feel so ODD paying $2.00 for 1 ticket. In fact I've written a letter to my state lottery about this.

                              PB had to change the matrix because they were losing money and the jackpots weren't rising and on the verge of falling apart.

                              I do feel that MegaMillions will up their matrix. They have not had the Mega Jackpots they were expecting with the new change but I doubt they will go to $2.00

                                 
                                Page 34 of 38