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Record $1.6 billion Powerball jackpot won by 3 tickets

Topic closed. 182 replies. Last post 11 months ago by sirbrad.

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savagegoose's avatar - ProfilePho
adelaide sa
Australia
Member #37136
April 11, 2006
3300 Posts
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Posted: January 14, 2016, 5:46 pm - IP Logged

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

    noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
    Bay Area - California
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    Posted: January 14, 2016, 6:47 pm - IP Logged

    How would I have reacted if l won- let's just say how about an " out of body experience"..but now that I know that I was 5 numbers out Plus the Mega number. ...l guess my selection sucked to put it mildly. 

    People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

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      Posted: January 14, 2016, 6:59 pm - IP Logged

      According to CBS News, California sold the most PB tickets

        BuyLow's avatar - palm tree.jpg
        Florida
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        Posted: January 14, 2016, 7:12 pm - IP Logged

        http://www.powerball.com/powerball/pb_totalwinners.asp

          TheGameGrl's avatar - character catafly.jpg
          A long and winding road
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          June 10, 2005
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          Posted: January 14, 2016, 7:50 pm - IP Logged

          The best part of three winners is, IMHO is this negates all the naysayers, mathematicians, etc who have said over and over again lotteries are unwinnable.  Maybe TLC will update their lottery show again, hope so.

          I'm with ya on various states creating winners! 

          Since on average when jpots are 200 mill, one winner will catch the big one. So with 700 mill cash, three seems to be in alignment for winning the jp.

          It was great news to read of sooo many million dollar ticket holders! Not to shabby to get that chunk.

          I figure the $6 i vested isn't enough to be distraught over. Particularly when I think of everyday players who toss fifty dollars down on a number for days ... and never blink an eye or win. Perhaps its perspective of understanding that happiness isn't contingent on winning or losing. Life has better plans to entertain.

          ~~Is it true, Is it kind,Is it necessary. ~~~

           Thanks be to the giving numbers: 1621,912,119 02014

            savagegoose's avatar - ProfilePho
            adelaide sa
            Australia
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            April 11, 2006
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            Posted: January 14, 2016, 8:22 pm - IP Logged

            Yes, I'm well acquainted with that loss depression.

            I should be used to it, but I'm NOT.

            I'm madder and sadder than hell.

            The Devil's down there saying "HA HA HO HO,
            Groppo the goof thought he'd win, LOL!".

            when i  put money on lotto because of big jackpot is in the offing, i ask myself what will i do if it rolls?  usually makes me only spend half as much as i was about too

            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

              emerald64's avatar - 8ball
              suffolk county, Long Island, NY
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              Posted: January 14, 2016, 8:26 pm - IP Logged

              Does anyone know if the ticket was a Qp ... ?

                Tami333's avatar - winifrid
                Michigan
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                Posted: January 14, 2016, 8:29 pm - IP Logged

                Not sure if this has been confirmed, but....

                "A Pomona nurse who won the record-breaking Powerball jackpot was given a ticket by her boss. The 62-year-old woman is a senior registered nurse at Park Avenue Health Care and Wellness Center in Pomona, according to a spokesperson for nursing home owner Shlomo RechnitzRechnitz bought 18,000 tickets for his employees and residents at 80 nursing homes across California. Rechnitz sent 600 tickets by mail to the Park Avenue Health Care and Wellness Center."

                It also states she has 7 children of which 6 are also Nurses.

                What a great story and Congrats to them if this is true! Won't take long, by tomorrow we'll know who she is.

                  emerald64's avatar - 8ball
                  suffolk county, Long Island, NY
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                  Posted: January 14, 2016, 8:32 pm - IP Logged

                  Not sure if this has been confirmed, but....

                  "A Pomona nurse who won the record-breaking Powerball jackpot was given a ticket by her boss. The 62-year-old woman is a senior registered nurse at Park Avenue Health Care and Wellness Center in Pomona, according to a spokesperson for nursing home owner Shlomo RechnitzRechnitz bought 18,000 tickets for his employees and residents at 80 nursing homes across California. Rechnitz sent 600 tickets by mail to the Park Avenue Health Care and Wellness Center."

                  It also states she has 7 children of which 6 are also Nurses.

                  What a great story and Congrats to them if this is true! Won't take long, by tomorrow we'll know who she is.

                  ... so ill assume with that... it was a QP ... ?

                    Tami333's avatar - winifrid
                    Michigan
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                    Posted: January 14, 2016, 8:34 pm - IP Logged

                    ... so ill assume with that... it was a QP ... ?

                    I think so since he bought 18,000 tickets for his employees.

                      Tami333's avatar - winifrid
                      Michigan
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                      Posted: January 14, 2016, 8:37 pm - IP Logged

                      This guy who bought the tickets for his employees was filthy RICH.  Interesting part related to the FBI Investigation last October;  http://www.jewishjournal.com/california/article/california_powerball_winner_had_ticket_gifted_by_shlomo_rechnitz_spokesman

                      But.....If you read all the good he has done for people.  God Bless him!!  Blue Angel

                        joshuacloak's avatar - Money Swim-uncle-scrooge-mcduck-35997717-677-518.jpg

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                        Posted: January 14, 2016, 8:51 pm - IP Logged

                        Wouldn't this "nested trust" strategy give up a lot of the winnings in taxes?

                         

                        Say the prize was 254M annuity, so about 152.5M lump sum...

                        Assuming no state tax on lottery winnings and no contributions to charity and at todays tax rates...

                        The first trust will pay 39.6% in Fed tax, so 60,390,000 in taxes and 92,110,000

                        The grantor of the trust (assuming the lawyer that "claims" the prize for you) will need to pay a 40% gift tax to gift the money to the second trust

                        I'm assuming the lawyer will not use his personal estate tax exemption on you, so...40% of 152.5M again...leaving about 31,110,000

                        Now once the money goes to the 2nd trust, depending how you distribute the money, you will be taxed at your tax bracket for the money, so if you decide to take it all out of the second trust in one distribution that would leave you about $18,666,000...

                        Obviously I'm just simplifying the taxes here, and there could be some ways to shelter some of this (ie. a CLAT or CRAT), but in the end it seems a lot to pay for the anonymity...

                        Hward0401, I see your new member here (first post) welcome to lottery post!

                        You seem to have an expertise about our tax code, So I keep this short if you doubt my line of thinking, why not just use a limited liability company (LLC) as a pass-through entity and collect as the trust on the other side? TN does allow an LLC to collect. (I call checkmate.)

                        No bees, no honey.

                          Groppo's avatar - cat anm.gif

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                          Posted: January 14, 2016, 9:15 pm - IP Logged

                          when i  put money on lotto because of big jackpot is in the offing, i ask myself what will i do if it rolls?  usually makes me only spend half as much as i was about too

                          .

                          Yes, I understand.

                          I think I spent more than $90, for this draw (but including all week - both mms and both pbs).

                          So glad it's over. I will try and forget it. In the meantime, I remain a prisoner in my state.

                          Even the no-tax state I go to weekly is not the paradise that the main jp would have bought me.

                            RL-RANDOMLOGIC's avatar - usafce

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                            Posted: January 14, 2016, 9:17 pm - IP Logged

                            Beware of mistakes

                            The overall odds of winning a prize is 1 in 24.87 so we can estimate the number if tickets sold by state.

                            CA. 24.87*3,675,988 = 91,421,821 tickets at a cost of $182,843,642

                            FL. 24.87*2,111,197 = 52,505,469 tickets at a cost of $105,010,938

                            TN. 24.87* 526,451 = 13,092,836 tickets at a cost of $26,185,672

                            Estimated tickets cost of the three states where a winning ticket was sold $314,040,252

                            Tennessee was by far the biggest winner as they receive 1/3 of the JP and only make up 8.3% of the

                            total sales of the 3 states that had a winner. CA residents paid the most for the win at 58.2% of the 3.

                            This leaves FL with around 33.4% for their win.

                            Other States with large ticket sales

                            TX. 24.87*2,289,864 = $113,897,835

                            NY. 24.87*2,033,682 = $101,155,342

                            PA. 24.87*1,187,351 = $59,058,838

                            NJ. 24.87*1,135,441 = $56,476,835

                            TN. Won on a wild card so to say, I love underdogs. WTG TN.

                            RL

                            P.S. I think the total wins are based on the last drawing but not sure.

                            Working on my Ph.D.  "University of hard Knocks"

                            I will consider the opinion that my winnings are a product of chance if you are willing to consider

                            they are not.  Many great discoveries come while searching for something else

                            USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

                              US Flag Trump / 2016 & 2020  

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                              Ohio
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                              Posted: January 14, 2016, 9:30 pm - IP Logged

                              Many happy days to the winners! Congratulations to them all!

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