The record $365 million Powerball jackpot has been claimed by a group of eight workers from a Nebraska meat processing plant.
They all work at a ConAgra ham processing plant near the U Stop convenience store where they bought the winning ticket.
It was the biggest jackpot on record for any lottery in the United States.
The winning numbers drawn Saturday were 15, 17, 43, 44 and 48, with a Powerball number of 29, according to the Multi-State Lottery Association of Des Moines, Iowa, which runs the game for the participating states.
They had the option of taking the money in one lump sum or installments over 30 years.
They chose the cash option.
The cash option gives them $177.3 million, or $124.1 million after taxes. On the installment plan, the first payment would have been $6,507,986 after taxes.
The pre-tax haul on the cash option for the group of eight would be $22,162,500. After taxes it amounts to $15.5 million each.
The eight workers' names: Quang Dao, 56; David Gehle, 53; Alain Maboussou, 26; Chasity Rutjens, 29; Robert Stewart, 30; Michael Terpstra, 47; Dung Tran, 34; and Eric Zornes, 40.
The previous U.S. lottery jackpot record was $363 million for the Big Game, the forerunner of Mega Millions. That was won by two ticketholders in Illinois and Michigan in 2000. Powerball's previous record jackpot, $340 million, was won by an Oregon family in October.
Powerball is played in 28 states, the District of Columbia and the U.S. Virgin Islands.
The winners met the public Wednesday morning at a news conference at the Cornhusker Marriott Hotel, which is just around the corner from lottery headquarters in downtown Lincoln. Seven men and one woman pooled their money to buy the ticket.
Three of the newly-minted millionaires showed up at the news conference after working their overnight shift at local ConAgra food processing plant Cook's Food. The mood was jovial at the news conference.
Tran said he was a refugee when he arrived in the United States from Vietnam 16 years ago. He said he's been in Lincoln with his wife and children the whole time. Tran said he learned that he was a winner at about 10:30 p.m. Saturday when he called in on the Powerball hotline to learn the winning numbers. He said he tried to call his fellow winner, "but they were sleeping."
Tran wouldn't say where he hid the winning ticket until he could secure it.
"I hid it somewhere," he said, which made the gathered crowd roar.
Stewart said he isn't sure what he'll do with the money, but he's thinking strongly about quitting his job. He said he's only spent about $30 since he joined the pool of Powerball ticket buyers.
"I don't think any of us have had much sleep. We've been on the run," Stewart said, adding that they never left town.
The group choose the one-time $124.1 million lump sum option, and each took a check for $22.1 million home.
Zornes, who said he's been part of the Powerball pool for five years, said he has been retired for about four days from Cook's. Before that, he said, he was a second-shift maintenance mechanic, and processed hams and corned beef.
"I probably can't say the words here," Zornes said, asked what he said when he learned he was a winner. "It was party time."
Zornes said it has been a struggle to iron things out among the winners, and they've spent a lot of time avoiding the media, though, "We probably ate breakfast with some of you," Zornes said, taunting the gathered national journalists that have been tracking the winners since Saturday.
The group's attorney said he took a call from one of the winners, and all the caller would say it that he needed an agreement drawn up. He said it was hard to keep the secret once he knew that he was representing the Powerball winners.
Second Prize
Some lottery employees have worked 17-hour days since the numbers were drawn.
Seventeen co-workers from Intel Corporation in Rio Rancho, N.M., have come forward to claim the second prize from Saturday's record Powerball drawing.
The 17 are dividing a prize worth $667,142.
The normal Powerball second prize is $200,000 for matching five white balls but missing the red Powerball. When Powerball jackpots set records -- such as Saturday's $365 million prize -- a separate prize pool grows for second-prize winners.
In all, there were 42 second-prize winners across the country.
Each of the 17 workers put $5 in the office pool and received $39,243. After federal and state withholding taxes, each will take home $27,078.
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
But they were correct in choosing cash. I don't think they could have split cash and annuity.
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
2/22/06
HAPPY WEDNESDAY "TONY"
If any of them acquired a good Financail Advisor or Atty...they would all do well to put their indiviual monies in Trust Funds.......The best control in the World is really the Financial Trusts.
You sit w/ them, and they help you arrange how much you invest, and how much you spend each month, it will even pay all your bills and taxes for you........you cannot go broke that way.....If I should ever win, I will put everyting in a Financial Trust.
Glad to finally find out who won the prize, especially touching for the ones who made a new life when they came to the US. My friend was watching the conference and said that to her, a couple of the guys in the sunglasses seemed a little full of themselves in front of the press. Hopefully we won't have another Jack to deal with. Congrats to all :)
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
ADDENDUM:
I think we all know, who among our Relatives & Friends really needs help, and for what reasons.
I would help out certain people. To have so much, and not reach out to those who are really in need, is in my opinion, cold and callous. Even it it were only helping with School Tuitions, Book and Lab Fees, even housing, I would do whatever I could.
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
But they were correct in choosing cash. I don't think they could have split cash and annuity.
Yeah, probably not... I am not sure buying an annuity would be the best thing after the fact either since you dont get the deferred tax benefit. So invest and tell everyone it's tied up in an annuity. 365 million is a lot to blow, 15 million can be squandered pretty easily.
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
But they were correct in choosing cash. I don't think they could have split cash and annuity.
Yeah, probably not... I am not sure buying an annuity would be the best thing after the fact either since you dont get the deferred tax benefit. So invest and tell everyone it's tied up in an annuity. 365 million is a lot to blow, 15 million can be squandered pretty easily.
One ticket, one signature. The ticket was designed that way for a reason! Can't have both cash and annuity. How you divide the decision is your business, not the lottery. Now, the TAx Collector, he has a large interest in how it is divided.
I read that a few plan on quitting/retiring. Is it safe to be doing that after winning like 15 million apiece? I'd be afraid I would bore myself to death eventually if I didn't work LOL
I loved the sunglasses! They know that the futures so bright, they gotta wear shades! (PS Our group had said if we ever won we were going to wear shades reckon now it will be lamp shades since this group stole our idea!) ...
Congratulations to the meat plant workers in Nebraska winning the North American Jackpot record of 365 million in Powerball. Good job for them taking cash value. I hope the meat plant workers continue to work or retire, but don't have financial problems in the future.
I loved the sunglasses! They know that the futures so bright, they gotta wear shades! (PS Our group had said if we ever won we were going to wear shades reckon now it will be lamp shades since this group stole our idea!) ...
Every one wearing a lamp shade. That would be soooo neat to see. I would take the day off to watch it live. Little battery hooked up to a flashlight, and when they announced each persons name, they could light the lamp! Then one, big chorus at the end, "We were dumb enough to believe the annuity amount, but we are bright enough to choose cash!"
Okay Chewie, If ever my group wins, we'll make u the designer of those lampshades! Heck you could be the talk of the event and take the *spotlight* off of us for a quick get-a-way!
It really was good to see the winners be lighthearted and joking at the press release. They truly were down to earth folks and sincerely deserving of the good fortune. May they each live long , laugh much and endure many more blessings!
Funny how they say that the lottery cannot be beaten, and regardless of how many tickets you play the odds are still astronomical. Yet for some reason the majority of most of the winners within the last year have all been factory workers in lottery polls, spending anywhere from $40 and up over $100. Could this spell trouble for the individual player, or is it already?
I don't think it is a coincidence that those who are able to play a lot more plays are hitting the jackpot more often than those who only have a few bucks each week. Once again it seems to be just another thing that favors those with more money, and usually those who already have a good enough living to begin with. And of course yet another quick pick, which always drives the steak into the heart of a LP member.
Does anyone know how much they spent on tickets for that drawing? It makes sense that any person or pool who spends $25 or $50 a drawing on tickets has a better chance than my 1 ticket, but they also lose more when they don't win big, which is 99.9% of the time. My feeling about the lottery is that it's not about maximizing my chance to win, it's keeping my losses at a minimum while still having fun. If a person spends $5 a drawing and I spend $1, at the end of one year I'm about $400 ahead of them unless one of us wins big.
Let's see if a majority of the next 5 winners are single people or pools. I would guess single people, just because that has to be a majority of sales.
I'm with you. As soon as I heard that a group of players won the jackpot, I wondered how long it would be before someone filed a lawsuit. Hopefully they'll escape without a fight.
Funny how they say that the lottery cannot be beaten, and regardless of how many tickets you play the odds are still astronomical. Yet for some reason the majority of most of the winners within the last year have all been factory workers in lottery polls, spending anywhere from $40 and up over $100. Could this spell trouble for the individual player, or is it already?
I don't think it is a coincidence that those who are able to play a lot more plays are hitting the jackpot more often than those who only have a few bucks each week. Once again it seems to be just another thing that favors those with more money, and usually those who already have a good enough living to begin with. And of course yet another quick pick, which always drives the steak into the heart of a LP member.
It isn't coincidence. Who wins follows the same laws of probability as everything else. What we remember is a lot less reliable than probability theory, and in this case I'm pretty sure your memory is off. According to the Powerball website there were 14 winners in 2005 and it looks like only one was a workplace pool. 4 of those paid more than 50 million for the cash option and all went to individuals (the largest was split among family). The workplace pool shared just under $6 million among 15 people. Megamillions had a record winner in November that was a workplace pool, but I'm not sure about other MM winners for 2005. At any rate, last year's Powerball prizes went almost entirely to individual winners, whether you figure it by the number of winners or the amount won.
I don't know what percentage of tickets are bought by pools or individuals or blondes, but over the long term we can expect that for any category you choose, the percentage of winners who fit that category will match with the percentage of tickets bought by people in those categories. If 30% of tickets are bought by pools then about 30% of winning tickets will belong to a pool, and last year's Powerball winners is a short term departure, just like getting 3 or 4 heads in a row while flipping a coin. if 1% of tickest are bought by guys named Fred then about 1% of winners are going to be named Fred. People who buy 10 or 100 tickets are obviously more likely to win than those who buy 1 or 2, but because almost everybody loses more money than they win, spending 10 to 100 times as much usually means losing 10 to 100 times as much.
Even if pools won 80% of the time, pools are still made up of individual winners and any individual's chances are related to how many tickets they have a share of. Being in a pool increases your chances of winning, but also reduces what you win since the prize is spread over all members of the pool. The $177 million cash that was just won may have been the 2nd biggest single ticket payout in US history, but 4 of last year's individual powerball winners (plus the the family that split 164 million) got bigger pre-tax checks than the current winners. The only thing that routinely favors those with more money is that they can afford to lose more. With only a few exceptions, spending $1000 per year on Powerball or Megamillions tickets means losing about $850. If an indiviual spends $1000 a year on tickets and losing that much money is a problem the trouble has nothing to do with how much other people are playing.
I'm with you. As soon as I heard that a group of players won the jackpot, I wondered how long it would be before someone filed a lawsuit. Hopefully they'll escape without a fight.
I'm certainly curious about these two parts of the article:
<< Zornes said it has been a struggle to iron things out among the winners, >>
<< The group's attorney said he took a call from one of the winners, and all the caller would say it that he needed an agreement drawn up >>
What had to be ironed out after they found out they won, and what agreement had to be drawn up after the fact? Maybe they just wanted to formalize an existing agreement or had differences of opinion on how soon to make thier claim, but it sounds like Zornes and the attorney may have both put their feet in their mouth. I'd certainly advise clients not to say anything about the sharing agreement without getting legal approval first and the lawyer commenting on it is really foolish. Chewie commented about the tax collector's interest in how it's divided, and as far as I know the IRS is fussy about agreements to split the winnings. Having the IRS rule that the agreement to share was made after the ticket became worth $177 million could have seriously unpleasant tax implications that make sharing with a couple more people the lesser of two evils.
The fact is that multiple tickets are winning much more than single tickets. Also just because one single ticket was the winner, does not mean that the player did not buy many more than that one ticket.
Plus we are not talking only work pools here, family pools as well. Which in fact the last large jackpot was won by.(Wests) The lottery only wants to make you believe that your chances are just as good so that more people who do not have the money to buy many tickets will still throw their money in.
Don't.....remember, what you did to get this far in life. You made it through rain & kept your world protected.....You didn't win anything significant at "26"...but pretty soon you will win something pretty big$$$$$$$$$$$$$$$$$$$$$$$, and you can act like "26" or "66" whichever fits you best......
I'm with you. As soon as I heard that a group of players won the jackpot, I wondered how long it would be before someone filed a lawsuit. Hopefully they'll escape without a fight.
I'm certainly curious about these two parts of the article:
<< Zornes said it has been a struggle to iron things out among the winners, >>
<< The group's attorney said he took a call from one of the winners, and all the caller would say it that he needed an agreement drawn up >>
What had to be ironed out after they found out they won, and what agreement had to be drawn up after the fact? Maybe they just wanted to formalize an existing agreement or had differences of opinion on how soon to make thier claim, but it sounds like Zornes and the attorney may have both put their feet in their mouth. I'd certainly advise clients not to say anything about the sharing agreement without getting legal approval first and the lawyer commenting on it is really foolish. Chewie commented about the tax collector's interest in how it's divided, and as far as I know the IRS is fussy about agreements to split the winnings. Having the IRS rule that the agreement to share was made after the ticket became worth $177 million could have seriously unpleasant tax implications that make sharing with a couple more people the lesser of two evils.
HAPPY THURSDAY "KY"
I read that one of the winners indicated that each week everyone is offered a chance to play in the "pool", and that those who decide to play must give $5.00. He said that this time was no exception, everyone was asked to play, those who did were the "8" who played and won the 365 (smackers), which means that there shouldn't be any "technical difficulties" in this bunch.
I'd certainly advise clients not to say anything about the sharing agreement without getting legal approval first and the lawyer commenting on it is really foolish.
I Agree! I credit them for grabbing the loot as soon as it was grabbable. But they have no idea of how the taxes are going to adjusted. Keep you mouth shut on the financials. Smile, like a dufus, joke with the camera man, but don't talk to any one about money. Let the "team" do that. In this case, get a new lawyer! This one is obviously out of his league.
Will they continue playing? How can they go to a store without people knowing who they are? All lottery winners should be allowed to choose anonymity; as they can in the UK and Australia
Will they continue playing? How can they go to a store without people knowing who they are? All lottery winners should be allowed to choose anonymity; as they can in the UK and Australia
Did you see the grin on their faces? Did you see how fast they jumped on the money? They were barking at the spotlight for attention. You set a handfull of people down, throw $365M at them, and some one is going to be howling at the moon! There goes your anonymity. Out the door faster then New York Chili! Pass all the laws, change all the laws, you're still not going to teach people to shut their mouths. There will always be the handfull who can't see beyound their glasses, nor think beyound the double-cheesburger. People have a right to make an a** out of themselves, and, according to the news conferences, lottery winners make sure their oppotunity is never over looked.
If they can't go to a store to buy tickets any more, they can play by subscription from the comfort and privacy of their own homes. They can subscribe to the Massachusetts State Lottery games and they don't have to be residents of Massachusetts.
Just remember, eight peple in a room, made a decision within two days! Didn't need twenty advisers and six months of meditation. Were able to realize. and conclude, they can get advise and be millionaires at the same time!. They could have spent the next six months making ham slices, deciding what to do, or they could be enjoying the benefits of millions of dollars. Get money, have money! S-M-A-R-T people! D-E-C-I-S-I-V-E people! It is how America became great!
Three of the newly-minted millionaires showed up at the news conference after working their overnight shift at local ConAgra food processing plant Cook's Food. The mood was jovial at the news conference.
Zornes, who said he's been part of the Powerball pool for five years, said he has been retired for about four days from Cook's. Before that, he said, he was a second-shift maintenance mechanic, and processed hams and corned beef.
Man, that money can buy a lot of hot dogs !!!!!
Congrats to the group. I wonder if Long John Silver's will still want them now?!
Congrats to the group. I wonder if Long John Silver's will still want them now?!
I can see it now-- The first L J S commercial :
"We used to make hot dogs and sausages, but since we won the powerball, we have moved all the way up to fish sticks and popcorn shrimp ".
MMMMMM good !!!
I wish I was 26 and retiring!
Congrats to the group. I wonder if Long John Silver's will still want them now?!
I can see it now-- The first L J S commercial :
"We used to make hot dogs and sausages, but since we won the powerball, we have moved all the way up to fish sticks and popcorn shrimp ".
MMMMMM good !!!
HAPPY WEDNESDAY..."DD"
as usual.....lolololololoololol.....(LMAO)........you need to stop.......lololololololool
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
But they were correct in choosing cash. I don't think they could have split cash and annuity.
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
2/22/06
HAPPY WEDNESDAY "TONY"
If any of them acquired a good Financail Advisor or Atty...they would all do well to put their indiviual monies in Trust Funds.......The best control in the World is really the Financial Trusts.
You sit w/ them, and they help you arrange how much you invest, and how much you spend each month, it will even pay all your bills and taxes for you........you cannot go broke that way.....If I should ever win, I will put everyting in a Financial Trust.
My first question: What was with the sunglasses?
Glad to finally find out who won the prize, especially touching for the ones who made a new life when they came to the US. My friend was watching the conference and said that to her, a couple of the guys in the sunglasses seemed a little full of themselves in front of the press. Hopefully we won't have another Jack to deal with. Congrats to all :)
I wish I was 26 and retiring!
Hell, I just wish I was 26!
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
ADDENDUM:
I think we all know, who among our Relatives & Friends really needs help, and for what reasons.
I would help out certain people. To have so much, and not reach out to those who are really in need, is in my opinion, cold and callous. Even it it were only helping with School Tuitions, Book and Lab Fees, even housing, I would do whatever I could.
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
But they were correct in choosing cash. I don't think they could have split cash and annuity.
Yeah, probably not... I am not sure buying an annuity would be the best thing after the fact either since you dont get the deferred tax benefit. So invest and tell everyone it's tied up in an annuity. 365 million is a lot to blow, 15 million can be squandered pretty easily.
I wish I was 26 and retiring!
I wish I was just 26!
I would only want to be 26 if I knew what I know now.
Oh, and if I had 22 mil.......
Stewart said he isn't sure what he'll do with the money, but he's thinking strongly about quitting his job.
"I don't think any of us have had much sleep ".
That's pretty evident. He needs some rest to think straight.
DD
My advise to the winners is BUY AN ANNUITY. Some of these guys are young and buying an annuit will ensure that the money lasts, it will also give them an excuse to tell friends who want to mooch off them... "Sorry but I only get a couple hundred grand a year and I need that to pay my bills." Good Luck Guys (and Girl).
But they were correct in choosing cash. I don't think they could have split cash and annuity.
Yeah, probably not... I am not sure buying an annuity would be the best thing after the fact either since you dont get the deferred tax benefit. So invest and tell everyone it's tied up in an annuity. 365 million is a lot to blow, 15 million can be squandered pretty easily.
One ticket, one signature. The ticket was designed that way for a reason! Can't have both cash and annuity. How you divide the decision is your business, not the lottery. Now, the TAx Collector, he has a large interest in how it is divided.
I read that a few plan on quitting/retiring. Is it safe to be doing that after winning like 15 million apiece? I'd be afraid I would bore myself to death eventually if I didn't work LOL
Interesting comments here.
I loved the sunglasses! They know that the futures so bright, they gotta wear shades! (PS Our group had said if we ever won we were going to wear shades reckon now it will be lamp shades since this group stole our idea!) ...
Congratulations to the meat plant workers in Nebraska winning the North American Jackpot record of 365 million in Powerball. Good job for them taking cash value. I hope the meat plant workers continue to work or retire, but don't have financial problems in the future.
The story was great.. I am so happy for all of them...
Congrats to the group. I wonder if Long John Silver's will still want them now?!
I can see it now-- The first L J S commercial :
"We used to make hot dogs and sausages, but since we won the powerball, we have moved all the way up to fish sticks and popcorn shrimp ".
MMMMMM good !!!
HAPPY WEDNESDAY..."DD"
as usual.....lolololololoololol.....(LMAO)........you need to stop.......lololololololool
Thanks Libra.....
"Oh I wish I were an Oscar Meyer wiener"
oh well...never mind...
Anyone want to bet how long until the first person comes forward and claims to be part of the pool but got left out of Saturday's drawing ?
Interesting comments here.
I loved the sunglasses! They know that the futures so bright, they gotta wear shades! (PS Our group had said if we ever won we were going to wear shades reckon now it will be lamp shades since this group stole our idea!) ...
Every one wearing a lamp shade. That would be soooo neat to see. I would take the day off to watch it live. Little battery hooked up to a flashlight, and when they announced each persons name, they could light the lamp! Then one, big chorus at the end, "We were dumb enough to believe the annuity amount, but we are bright enough to choose cash!"
Okay Chewie, If ever my group wins, we'll make u the designer of those lampshades! Heck you could be the talk of the event and take the *spotlight* off of us for a quick get-a-way!
It really was good to see the winners be lighthearted and joking at the press release. They truly were down to earth folks and sincerely deserving of the good fortune. May they each live long , laugh much and endure many more blessings!
Funny how they say that the lottery cannot be beaten, and regardless of how many tickets you play the odds are still astronomical. Yet for some reason the majority of most of the winners within the last year have all been factory workers in lottery polls, spending anywhere from $40 and up over $100. Could this spell trouble for the individual player, or is it already?
I don't think it is a coincidence that those who are able to play a lot more plays are hitting the jackpot more often than those who only have a few bucks each week. Once again it seems to be just another thing that favors those with more money, and usually those who already have a good enough living to begin with. And of course yet another quick pick, which always drives the steak into the heart of a LP member.
Congratulations ya'll.
Now do the wise thing with your blessings!!!
Does anyone know how much they spent on tickets for that drawing? It makes sense that any person or pool who spends $25 or $50 a drawing on tickets has a better chance than my 1 ticket, but they also lose more when they don't win big, which is 99.9% of the time. My feeling about the lottery is that it's not about maximizing my chance to win, it's keeping my losses at a minimum while still having fun. If a person spends $5 a drawing and I spend $1, at the end of one year I'm about $400 ahead of them unless one of us wins big.
Let's see if a majority of the next 5 winners are single people or pools. I would guess single people, just because that has to be a majority of sales.
i just check out the powerball.com web sight and it said each player put out 5 dollars a piece.
And just think...... the winning ticket was one of 40 quick picks..... No wheeling system or number picking strategy..... just quick picks!!!
It's all a matter of luck you guys. The lottery is random every time. The numbers have to pick you in order for you to win.
DoubleDown,
I'm with you. As soon as I heard that a group of players won the jackpot, I wondered how long it would be before someone filed a lawsuit. Hopefully they'll escape without a fight.
Funny how they say that the lottery cannot be beaten, and regardless of how many tickets you play the odds are still astronomical. Yet for some reason the majority of most of the winners within the last year have all been factory workers in lottery polls, spending anywhere from $40 and up over $100. Could this spell trouble for the individual player, or is it already?
I don't think it is a coincidence that those who are able to play a lot more plays are hitting the jackpot more often than those who only have a few bucks each week. Once again it seems to be just another thing that favors those with more money, and usually those who already have a good enough living to begin with. And of course yet another quick pick, which always drives the steak into the heart of a LP member.
It isn't coincidence. Who wins follows the same laws of probability as everything else. What we remember is a lot less reliable than probability theory, and in this case I'm pretty sure your memory is off. According to the Powerball website there were 14 winners in 2005 and it looks like only one was a workplace pool. 4 of those paid more than 50 million for the cash option and all went to individuals (the largest was split among family). The workplace pool shared just under $6 million among 15 people. Megamillions had a record winner in November that was a workplace pool, but I'm not sure about other MM winners for 2005. At any rate, last year's Powerball prizes went almost entirely to individual winners, whether you figure it by the number of winners or the amount won.
I don't know what percentage of tickets are bought by pools or individuals or blondes, but over the long term we can expect that for any category you choose, the percentage of winners who fit that category will match with the percentage of tickets bought by people in those categories. If 30% of tickets are bought by pools then about 30% of winning tickets will belong to a pool, and last year's Powerball winners is a short term departure, just like getting 3 or 4 heads in a row while flipping a coin. if 1% of tickest are bought by guys named Fred then about 1% of winners are going to be named Fred. People who buy 10 or 100 tickets are obviously more likely to win than those who buy 1 or 2, but because almost everybody loses more money than they win, spending 10 to 100 times as much usually means losing 10 to 100 times as much.
Even if pools won 80% of the time, pools are still made up of individual winners and any individual's chances are related to how many tickets they have a share of. Being in a pool increases your chances of winning, but also reduces what you win since the prize is spread over all members of the pool. The $177 million cash that was just won may have been the 2nd biggest single ticket payout in US history, but 4 of last year's individual powerball winners (plus the the family that split 164 million) got bigger pre-tax checks than the current winners. The only thing that routinely favors those with more money is that they can afford to lose more. With only a few exceptions, spending $1000 per year on Powerball or Megamillions tickets means losing about $850. If an indiviual spends $1000 a year on tickets and losing that much money is a problem the trouble has nothing to do with how much other people are playing.
DoubleDown,
I'm with you. As soon as I heard that a group of players won the jackpot, I wondered how long it would be before someone filed a lawsuit. Hopefully they'll escape without a fight.
I'm certainly curious about these two parts of the article:
<< Zornes said it has been a struggle to iron things out among the winners, >>
<< The group's attorney said he took a call from one of the winners, and all the caller would say it that he needed an agreement drawn up >>
What had to be ironed out after they found out they won, and what agreement had to be drawn up after the fact? Maybe they just wanted to formalize an existing agreement or had differences of opinion on how soon to make thier claim, but it sounds like Zornes and the attorney may have both put their feet in their mouth. I'd certainly advise clients not to say anything about the sharing agreement without getting legal approval first and the lawyer commenting on it is really foolish. Chewie commented about the tax collector's interest in how it's divided, and as far as I know the IRS is fussy about agreements to split the winnings. Having the IRS rule that the agreement to share was made after the ticket became worth $177 million could have seriously unpleasant tax implications that make sharing with a couple more people the lesser of two evils.
The fact is that multiple tickets are winning much more than single tickets. Also just because one single ticket was the winner, does not mean that the player did not buy many more than that one ticket.
Plus we are not talking only work pools here, family pools as well. Which in fact the last large jackpot was won by.(Wests) The lottery only wants to make you believe that your chances are just as good so that more people who do not have the money to buy many tickets will still throw their money in.
I wish I was 26 and retiring!
Hell, I just wish I was 26!
HAPPY THURSDAY....."MURDOOG"
Don't.....remember, what you did to get this far in life. You made it through rain & kept your world protected.....You didn't win anything significant at "26"...but pretty soon you will win something pretty big$$$$$$$$$$$$$$$$$$$$$$$, and you can act like "26" or "66" whichever fits you best......
DoubleDown,
I'm with you. As soon as I heard that a group of players won the jackpot, I wondered how long it would be before someone filed a lawsuit. Hopefully they'll escape without a fight.
I'm certainly curious about these two parts of the article:
<< Zornes said it has been a struggle to iron things out among the winners, >>
<< The group's attorney said he took a call from one of the winners, and all the caller would say it that he needed an agreement drawn up >>
What had to be ironed out after they found out they won, and what agreement had to be drawn up after the fact? Maybe they just wanted to formalize an existing agreement or had differences of opinion on how soon to make thier claim, but it sounds like Zornes and the attorney may have both put their feet in their mouth. I'd certainly advise clients not to say anything about the sharing agreement without getting legal approval first and the lawyer commenting on it is really foolish. Chewie commented about the tax collector's interest in how it's divided, and as far as I know the IRS is fussy about agreements to split the winnings. Having the IRS rule that the agreement to share was made after the ticket became worth $177 million could have seriously unpleasant tax implications that make sharing with a couple more people the lesser of two evils.
HAPPY THURSDAY "KY"
I read that one of the winners indicated that each week everyone is offered a chance to play in the "pool", and that those who decide to play must give $5.00. He said that this time was no exception, everyone was asked to play, those who did were the "8" who played and won the 365 (smackers), which means that there shouldn't be any "technical difficulties" in this bunch.
KNOCK ON WOOD.......
I'd certainly advise clients not to say anything about the sharing agreement without getting legal approval first and the lawyer commenting on it is really foolish.
I Agree! I credit them for grabbing the loot as soon as it was grabbable. But they have no idea of how the taxes are going to adjusted. Keep you mouth shut on the financials. Smile, like a dufus, joke with the camera man, but don't talk to any one about money. Let the "team" do that. In this case, get a new lawyer! This one is obviously out of his league.
Will they continue playing? How can they go to a store without people knowing who they are? All lottery winners should be allowed to choose anonymity; as they can in the UK and Australia
Will they continue playing? How can they go to a store without people knowing who they are? All lottery winners should be allowed to choose anonymity; as they can in the UK and Australia
Did you see the grin on their faces? Did you see how fast they jumped on the money? They were barking at the spotlight for attention. You set a handfull of people down, throw $365M at them, and some one is going to be howling at the moon! There goes your anonymity. Out the door faster then New York Chili! Pass all the laws, change all the laws, you're still not going to teach people to shut their mouths. There will always be the handfull who can't see beyound their glasses, nor think beyound the double-cheesburger. People have a right to make an a** out of themselves, and, according to the news conferences, lottery winners make sure their oppotunity is never over looked.
If they can't go to a store to buy tickets any more, they can play by subscription from the comfort and privacy of their own homes. They can subscribe to the Massachusetts State Lottery games and they don't have to be residents of Massachusetts.
Massachusetts State Lottery: 1-800-222-8587
See below for more info:
http://www.masslottery.com/SeasonTickets.htm
Just remember, eight peple in a room, made a decision within two days! Didn't need twenty advisers and six months of meditation. Were able to realize. and conclude, they can get advise and be millionaires at the same time!. They could have spent the next six months making ham slices, deciding what to do, or they could be enjoying the benefits of millions of dollars. Get money, have money! S-M-A-R-T people! D-E-C-I-S-I-V-E people! It is how America became great!