Multiple jackpot wins question?

Reply #10

dvdiva — Mon, 10 Apr 2006 06:28:29 GMT

Even if you win both you will not have the advertised jackpot for either game. You would have $135 million after federal tax. It's even lower if you have to pay state income tax. Odds of winning with the one quickpick method are 25,672,854,000,000,000 or only 25 quadrillion to one.

Reply #9

KY Floyd — Mon, 10 Apr 2006 06:12:50 GMT

Buying all of the combinations is basically impossible, but even if it could be done it may be even stupider than betting $1000 a week. The first really big jackpot I'm aware of where anybody really tried to do it was in about 1987 when the NY lotto reached 42 million or thereabouts. IIRC there were 7 winners, so each of them got about 6 million. At the time there were a little more than 6 million possible combinations. Since the payout was an annuity they would essentially have lost half of th... [ More ]

Reply #8

petergrfn — Sat, 08 Apr 2006 21:03:44 GMT

I know the possibility and probability of winning both jackpots even months or years apart is probably 1 in a billion. But a lifetime of weird coincidences says there always a chance there's always that last card in the deck when you have the best cards that comes off and gives your opponent the win. I know it's unlikly and I'd probably be so busy with travel and charity once I won one jackpot that I probably wouldn't play as much. But I'd still play, buying a ticket when I felt like it or... [ More ]

Reply #7

KY Floyd — Sat, 08 Apr 2006 20:54:10 GMT

Sure it could happen, but it's also possible that somebody could win 5 draws in a row using the same numbers each time. It's just not very likely.

This is what probability suggests about any winner in one game winning the other game. If 1000 PB jackpot winners (and there aren't 1000 yet) each buy 1000 MM tickets every year they'll be buying a total of 1 million tickets each year. With odds of 1: 175,711,536, that means they can expect to have one jackpot win every 175.7 years. For a MM... [ More ]

Reply #6

Korean Redneck — Sat, 08 Apr 2006 17:55:51 GMT

It will happen..........................

IT WILL HAPPEN TO ME

Reply #5

LOTTOMIKE — Sat, 08 Apr 2006 17:43:56 GMT

never say never it could happen.someone who won one jackpot could bankroll himself or herself to win another.....

Reply #4

ryanm — Sat, 08 Apr 2006 17:30:11 GMT

Nobody in the history of Powerball and Mega Millions has ever won both jackpots.

Reply #3

Uff Da! — Sat, 08 Apr 2006 15:26:56 GMT

The chance of winning both really close together is so remote that I'll discount the possibility. However, if I did win one and chose to keep playing, I believe I'd have a legal document drafted that I am gifting all future winnings to my five siblings and two stepchildren. It would be like a pool agreement, except that I'd be paying the full amount. I think with a document like that, the IRS would have to agree that the gift of the ticket was before one knew it was a winner. Thus, each per... [ More ]

Reply #2

four4me — Sat, 08 Apr 2006 14:18:29 GMT

Quote: So I might give the ticket to someone else to claim the MM jackpot for me.

You give it to someone else then it belongs to someone else. If you win keep it, cash it, then if you feel like giving it to someone go ahead, or pm me i'll take care of it for you/me for half of the pot. Giving some of your money away can be a good thing tax wise.

What would you do?? If your state didn't allow you to claim anonymously would you still try and claim both jackpots yourself? Yes at this po... [ More ]

Reply #1

getfashions — Sat, 08 Apr 2006 11:38:52 GMT

Give me a few more days and I can answer that question for you! Got my Fantasy5, Mega Millions, and Win for Life jackposts coming right up, my son has the Powerballs covered.

Good Luck to you too there is enough out there for you too...LOLOLOLOLOLOLOLOL

Multiple jackpot wins question?

petergrfn — Sat, 08 Apr 2006 07:52:44 GMT

I was just thinking what would I do if I won mulitple jackpots. I have tickets for Powerball for Sat and I'll be getting tickets for MegaMillions for Tues. I was thinking how would someone handle this situation? A problem I'm sure alot of us would like to have!! Not likely but fun to ponder. I would most likely claim the Powerball jackpot first because I know a real good tax attorney in my area who knows how to handle money and invest it well. He's also pretty well connected in town and kno... [ More ]