Replaying with money won.

Reply #18

jaybeach — Fri, 25 Oct 2013 17:33:58 GMT

Oh yes, already stashed away and have some play money too but haven't been using it for a while now. I just don't know what to play. The Vegas thing is an option but with chiildren, it's difficult to go there for gambling.

Does anyone know of people that kept winning time after time? I see it on the news but never actually knew anyone. One of my friends' son won a car in January from a radio show and then $100,000 on scratchers in the summer.

Reply #17

Slick Nick — Thu, 24 Oct 2013 20:51:37 GMT

Enjoy your winnings to a degree. But always keep a stash for future things, rainy days. And yes of course always buy a lottery ticket or bet a few numbers.

Reply #16

jjtheprince — Tue, 22 Oct 2013 19:42:11 GMT

Buy Powerball tickets because you'll win Wednesday nights drawing for $216 million

Reply #15

psykomo — Mon, 21 Oct 2013 19:21:46 GMT

JB:

CONGRAT'$ 2U welcome 2D LP

invest UR money$$ on D BIG Island

HI has a BIG rush N land buyer

Reply #14

jaybeach — Mon, 21 Oct 2013 18:01:28 GMT

I know I'm probably going to sound like a jack ass right now but my mother died of cancer few years ago and while she only had a few months to live, I took a leave of absence from my job to see if there is anything I could do for her. I am in the science industry and have been for almost 30 years. But after learning about the how the whole cancer research industry is funded, organized and managed, I would not give them a dime for cancer research. Just my 2 cents. Instead, I donate my time doing... [ More ]

Reply #13

RJOh — Sat, 19 Oct 2013 22:24:05 GMT

I had a professional fund raiser call me this morning wanting to know if she sent me a pledge card if she could depend on me to sign it and return a check. Since she was a professional, I assumed I would be paying her to give some of what I pledged to breast cancer research and keep the rest for her salary.

I told her NO, even though I'm an amateur I was capable of contributing without her help.

Reply #12

Think — Sat, 19 Oct 2013 21:54:12 GMT

You miss the obvious.

You could invest the money at 5% and have $30,000 extra per year to pay taxes on and then do whatever you want with.

So, as an example, after taxes you get $18000 you could then keep spending up to $1500 per month on tickets if that is what you wanted to spend it on.

Reply #11

RJOh — Sat, 19 Oct 2013 18:54:40 GMT

Players who have small wins and reinvest them in more tickets end up in the hole again. The same thing can happen with larger wins only it takes a little longer.

Reply #10

kapla — Sat, 19 Oct 2013 18:45:40 GMT

Well said... ENJOY the winnings but make it last! I also agree with the comment about 'you play to win so you don't have to play anymore

Reply #9

EdG1955 — Sat, 19 Oct 2013 18:11:15 GMT

X100 what others said. Keep playing about the same amount as you did before. If that got you a win, there's no reason it can't get you another. Spending a lot more will not actually increase your odds very much when you think about it. Say there's a 1 in 1,000,000 chance of winning, then playing $600,000 means there are still 400,000 chances someone else will win and you will have $0 instead of $600,000.

As for investing, follow your advisors suggestions but use your common sense to double ch... [ More ]

Reply #8

JackpotWanna — Sat, 19 Oct 2013 08:24:46 GMT

Play the same amount as before you won.

Reply #7

haymaker — Sat, 19 Oct 2013 03:03:59 GMT

Yea, I agree, just play same level and hope to get lucky again.

Smaller wins, go ahead and parlay, bigger wins, do something else.

Reply #6

cash4ninja — Sat, 19 Oct 2013 01:57:59 GMT

Keep working donate all money to breast cancer

Reply #5

CashnCarry — Sat, 19 Oct 2013 01:03:31 GMT

Firs things first, CONGRATULATIONS!!!!

Next, yeah, I agree with what others have said, if you do want to keep playing, do so but keep it at the same level you played before, or at most, only slightly higher, say 5%-10%. The rest of the money should be put to work imo, mortgage, kids college, investments, etc. Let it truly be a winning and not just an excuse to roll big for a short term. Become a success story and not just another person who beat the odds and then let the game still win

Reply #4

BuyLow — Sat, 19 Oct 2013 00:22:35 GMT

I would invest the majority of the winnings safely, or buy a home or payoff a mortgage. Continue playing the same level as I was before the win.

Odds aren't in your favor to gamble the winnings on more tickets with the hopes of winning more. I wouldn't do it. $600,000.00 not a chance in hell lol!!

Most people NEVER see a check that big. Odds. Not. Good. LOL......off soapbox

Reply #3

LottoMetro — Sat, 19 Oct 2013 00:19:39 GMT

If I were you I would keep playing BUT I wouldn't change the amount played. The whole point of playing is to hit the big one; once you've hit the big one there isn't as much of a need to hit it again. So for fun you could keep playing, but chances are you may never hit again and shouldn't bet too much.

Reply #2

jaybeach — Sat, 19 Oct 2013 00:11:30 GMT

I don't play lotto much - only a few dollars here and there when the jackpot is really high. I rather play the raffles in CA since it's much better than the 18,000,000 to 1 odds. LOL. In the past 6 years, I probably won back what I spent just a little here and a little there. It's just recently, I hit the big one. But I have have the itch to keep going but my family and advisors tell me to stop while I'm ahead. I'm not addicted by any means but raffles do tend to get expensive here.... [ More ]

Reply #1

SergeM — Sat, 19 Oct 2013 00:04:24 GMT

It's up to you. Buying a house to live in, is probably the best investment.

People who won sometimes win again one or several times. That is a fact. Which one are you

Replaying with money won.

jaybeach — Fri, 18 Oct 2013 23:49:07 GMT

I recently won a million dollar raffle - well, actually after taxes it was closer to $600,000. My new finance tax guy gave me a bunch of advice to invest the money but I was wondering if anyone on this board had money, replay some of the lotto or raffle and continued the winning streak.