Powerball: 365 million

[LastWhiteSoxFanStanding]

How many tickets will you be getting?

[sovereignstar]

Jackshit. I love being broke!

[LastWhiteSoxFanStanding]

I figure whats the harm in buying one. I just won't buy a snickers today to compensate.

[judicial clerk]

Its not really worth buying a ticket until the jackpot gets to about half a bil.

[Barkeep49]

It's only 177.3 million cash value. After taxes you won't even get 100 mil, so what's the point?

[Raiders Army]

I spent $20 yesterday. I wouldn't want to wait in line today. On the news they said that the lottery commission is opening up more machines to print tickets.

[Eaglesfan27]

I'll probably get 5. I know my chances are almost non-existant, but I won't miss 5 dollars. I'm going around lunchtime. Hopefully, lines won't be long (if they are, I probably will just pass.)

[Easy Mac]

I got 2 tickets, a bottle of water and a king size hershey bar. If I win, that will be the greatest chocolate ever. This is one of the rare times I've actually had cash in my wallet (maybe once every three months), so I'm not going to miss the money.

[FBPro]

I've got either 2 or 3 draws right now but may get a few more.

[duckman]

I bought 10 tickets.

[vex]

Originally Posted by Barkeep49

It's only 177.3 million cash value. After taxes you won't even get 100 mil, so what's the point?

Because I'm sure you wouldn't accept a paltry sum of $50 mil or so

[panerd]

I wish I had enough capital to start up a racket up like the lottery. Give me all your money and you can already know after two ping pong balls come out that you haven't won shit.

[Lorena]

We bought 1.

Out of curiosity, who goes the Quick Pick route? We use the same set of numbers... dammit, we're bound to hit it!

[panerd]

Dola:

Some hoosier in front of me in line at the gas station last night was buying a 12 pack of Natural Light and ten powerball tickets. Why not use some of that money for a better beer or a good bottle of whisky?

[Cuckoo]

I usually only buy one, but I went ahead and took the $15 bucks I won last week and spent it on tickets for tonight.

[JeeberD]

Stupid Texas not participating in Powerball. I may have to throw a few bucks towards MegaMillions, though. That sucker is up to $170 million...

[Eaglesfan27]

Originally Posted by Dodgerchick

We bought 1.

Out of curiosity, who goes the Quick Pick route? We use the same set of numbers... dammit, we're bound to hit it!

I go the Quick Pick route. I figure my odds are the same whether I or the machine pick the numbers.

[cartman]

I always go the quick pick route. The reason is that if I played the same set of numbers all of the time, the one time I didn't play them would be the time that they hit.

[Lorena]

Originally Posted by JeeberD

Stupid Texas not participating in Powerball. I may have to throw a few bucks towards MegaMillions, though. That sucker is up to $170 million...

WTF, no Powerball in TX? Bummer.

[Craptacular]

I'll probably get $5 when I leave the house. I always play Quick Pick, for some of the reasons above, as well as the fact that it's a lot faster.

[Galaxy]

Originally Posted by Barkeep49

It's only 177.3 million cash value. After taxes you won't even get 100 mil, so what's the point?

Cash value after taxes? Not sure what you mean. As for the value, I got a feeling the pot will be won by at least two or three people, spitting it. Still would take it. Sadly, most lottery winners are broke in a decade or so.

[st.cronin]

Originally Posted by Galaxy

Cash value after taxes? Not sure what you mean. As for the value, I got a feeling the pot will be won by at least two or three people, spitting it. Still would take it. Sadly, most lottery winners are broke in a decade or so.

When you consider the astronomical odds of winning along the heartbreaking stories of what happens to people who actually win, there is no way I would ever spend money on a lottery ticket.

It's basically a tax on the stupid.

[Galaxy]

Originally Posted by st.cronin

When you consider the astronomical odds of winning along the heartbreaking stories of what happens to people who actually win, there is no way I would ever spend money on a lottery ticket.

It's basically a tax on the stupid.

Better then taking it out my paycheck. I do gamble, but never the lottery. At least with poker and that, you actually require some knowledge and skill to play. Why are they heart-breaking?

[Craptacular]

Originally Posted by Galaxy

Cash value after taxes? Not sure what you mean. As for the value, I got a feeling the pot will be won by at least two or three people, spitting it. Still would take it. Sadly, most lottery winners are broke in a decade or so.

The $365 million is the total if you take it in annual installments (20 years?) You can choose to take the lower lump sum (in this case $177 million) and get all your money at once. After Uncle Sam takes his 35%, and any local / state taxes are deducted, you're basically getting a little more than half of the money (half of $177 million)... more if you're in a state with a low or no income tax.

[Galaxy]

Originally Posted by Craptacular

The $365 million is the total if you take it in annual installments (20 years?) You can choose to take the lower lump sum (in this case $177 million) and get all your money at once. After Uncle Sam takes his 35%, and any local / state taxes are deducted, you're basically getting a little more than half of the money ... more if you're in a state with a low or no income tax.

Thanks....Do the all the particiting states collect taxes on top of Uncle Sam, or is it just the winning state?

[stevew]

I think I'm gonna buy a couple, and forgo a soda and candy bar today. 90 million woud earn you about 85K a week in interest without touching the principle.

[Craptacular]

Originally Posted by Galaxy

Thanks....Do the all the particiting states collect taxes on top of Uncle Sam, or is it just the winning state?

It's treated as income to the winner, as if I made that money in salary. Some states don't have personal income taxes (Florida is one). If I win, I'll have to pay Wisconsin income tax on the winnings. I'm not exactly sure what happens if someone buys a ticket outside of the state they live in and wins ... I think they may have to file and/or pay taxes in both states, but they probably get some deductions so they aren't paying the full taxes in both.

[MikeVick7]

Originally Posted by Barkeep49

It's only 177.3 million cash value. After taxes you won't even get 100 mil, so what's the point?

Yeah, no kidding. I mean you won't even notice that small bump as compared to the rest of your vast riches right? So why even bother?

[sterlingice]

Originally Posted by st.cronin

When you consider the astronomical odds of winning along the heartbreaking stories of what happens to people who actually win, there is no way I would ever spend money on a lottery ticket.

It's basically a tax on the stupid.

You just have to look at it in the right perspective. It's like buying a little bit of fun for a couple of days. If you actually think you have a chance at winning then it's a tad dangerous because you could go out and spend money that you need, but if you look at it like poker money (ie money you're spending for the purposes of enjoyment and if you win, it's gravy) then where's the harm?

As for the heartbreaking stoires about people who win, I'm sure that's not everyone- those are just the ones we hear about but there are thousands of big lotto winner per year. For instance, I'm not worried if I won as I'm a frugal bastard already when I have money and when I don't so I'd spend a little of it and then miserly squirrel the rest away

SI

[sterlingice]

Originally Posted by MikeVick7

Yeah, no kidding. I mean you won't even notice that small bump as compared to the rest of your vast riches right? So why even bother?

They had a great marketing campaign a couple of years ago to this effect where there was an asshole brother in law talking making fun of his sister's husband for gaining weight and having crappy stuff in his house and then talking about how everyone knows you only play the lotto when it's big money and then the brother sarcastically zinging him about how it was so awful to have won only $4M.

SI

[duckman]

Hell, I would be tickled pink if I only won $200,000.

[Shkspr]

Okay, duckman, here's your chance. I'll roll ten dice. If all ten come up boxcars on the first roll, then I'll flip a coin. Heads, you get my house; tails, you get my car. If one or more of the dice rolls anything but a six, you give me a dollar.

I choose the dice.

[st.cronin]

There was either a book or a magazine article that I read - basically, winning 1,000 dollars or so was fine. Winning more than about 50,000 dollars, and people started losing friends, their families turned on them ... it was just an ugly, ugly, description. Since I wouldn't want to win, why would I play?

I do enjoy gambling at a casino, but don't play the slots, just blackjack and some roulette. So I'm not anti-gambling.

[duckman]

Originally Posted by Shkspr

Okay, duckman, here's your chance. I'll roll ten dice. If all ten come up boxcars on the first roll, then I'll flip a coin. Heads, you get my house; tails, you get my car. If one or more of the dice rolls anything but a six, you give me a dollar.

I choose the dice.

That's okay.

I realize that I don't have a chance in hell to win any money. I do it to have some fun. If I happened to win, great! I can live a life of luxury. If I don't win, who cares? The money is going to a good cause (education).

[Rockstar]

I bought 4. I would love to live the "heartbreaking" story of a lottery winner. My worst day laying on the beach sounds better then my best of best days at work. The biggest challenge would be mastering the ability to tell people no. Every fringe pal you ever had would slither out of the woodwork to beg for cash.

[Karlifornia]

Originally Posted by duckman

The money is going to a good cause (education).

Actually, duckman, that's where you're wrong. The money is actually going to the Shkspr Analogy Fund, which allows Shkspr to take time off from working so that he can think of exciting new analogies to make us all feel stupid.

[Logan]

I don't buy the whole "if you win the lottery, your life will be hell" argument. The problem is that a great majority of the winners you hear about are people who are lower to lower-middle class, who have never had a sizeable income and don't know how to spend money wisely. They also don't realize that a million dollars isn't a lot of money these days. Maybe you can buy a nice house and a car, but if you want to save any money, that's about it. You can't go around buying gifts for everybody.

I have a family member who won about $40K in the Cash 5 (Jersey). Almost all of that money went towards improving things in a house (bathrooms, kitchen, etc). It was a wise way to spend it. One of my best friends' fathers was one of 7 people in his office who split around $11 million from the Pick 6. He was already a fairly wealthy accountant, so that the few hundred grand he ended up with after taxes went towards buying a vacation home. Point being, there's plenty of ways to wisely spend lottery winnings.

My advice if anyone actually wins a sizeable amount in any lottery: Go to a lawyer, set up a trust, and then have your attorney claim the winnings in the name of the trust. You won't be completely anonymous to anyone who does some detective work, but it'll keep your name out of the paper.

[ShovelMonkey]

Five tickets, all quick picks.

When I win, my plan is to continue to work....just long enough for someone to piss me off. Then I'll politely tell them to go fuck themselves and call my helicopter in to pick me up.

[JeeberD]

If I were to ever win (and I'm talking 10+ million) I would buy a nice (but not outrageous) house for me and the woman, both of us nice (but not outrageous) cars, get the woman's parents out of debt, and maybe buy my brother and his wife a house. The rest is going into some sort of interest bearing account and we'll live off of the interest.

[EagleFan]

The problem is some of the people that win and who they do / how they handle it. I've already got a basic plan (not something counted on, just kind of like an 'escape toure in case of filre' kind of thing) and it all is releative to amount won (obviously with 2 million you can;t go as 'uts' as with 150 million.


My daughters college education would be taken care of as well as a trus funf (not one that makes them spoiled snobby brats though). I would find a way to get several family members and friends taken care of to some extent. I would set up a scholarship fund for the school that I went to (it's a private school and cost quite a bit now-- relatively, so I would like to see some who may benefit from it get a chance they might not had otherwise (I hope I don't lose my republican status with that idea)).

If it's an obscene amount, I would start my own software company that would easily be able to knock the current company out of the water (or would cause enough stir to get a sizable buyout).

I would also find a way to set up something to help those who are down on their luck to be able to get back on their feet. This would be very selective as I'm not talking about people who are just going to be a waste of time because they have major drug problems but maybe people who have been victims of layoffs and are having trouble getting re-established). Again, I hope that doesn;t take away my republican membership.

Oh and what goes without saying is getting a nice house (not something extreme, but something nice). The only extreme part is that it will have to be a very tech house with a great network and have a nice game room where I can host poker nights and just go to relax. Also getting a nice car for my wife and I. Not crazy, something like an Acura TL or along that line (not talking 6 figure cars). Though there probably would be a third card, a truck of some sort for use when needed to haul something.


It's funny how time changes things. My younger ideas were a little more extreme and included ideas like buying a minor league hockey team (though if we're talking absurd money, that idea might pop up).

[Crapshoot]

Its easier and more efficient to burn your dollar bills than to buy lottery tickets - the net effect is about the same, saving you the time to go down to the store.

[Crapshoot]

Originally Posted by st.cronin

It's basically a tax on the stupid.

Harsh, but accurate.

[Karlifornia]

If I won the lottery, I'd donate a ton of money to a political party. They would then change the rules to make my life easier

[Rockstar]

http://www.wimp.com/risk/

[Rockstar]

Originally Posted by Crapshoot

Harsh, but accurate.

With a screen name like Crapshoot, I thought youd buy at least one.

[duckman]

Originally Posted by Crapshoot

Its easier and more efficient to burn your dollar bills than to buy lottery tickets - the net effect is about the same, saving you the time to go down to the store.

Great, you wouldn't waste your money on it. But, most people realize that they're not going to win any significant money playing. It's entertainment to them. It's as much fun fantasizing about winning it as it is actually winning it.

[Airhog]

I think its all relative. If you take 5 dollars, that is disposable income, and instead of renting a movie, you play the lottery. Now if you take your 200 dollars earmarked for your rent, then its a problem

[Raiders Army]

I'd take the annuity option as opposed to the cash value. I wouldn't be able to trust myself and it's a good excuse not to give to your great-cousin's best friend.

It was about a 40 minute drive to PA to get tickets...maybe I should've done the next drawing option on my quick picks as well. Oh well.

[Rockstar]

Cruel prank. Even for your pals. Possibly the best prank ever.
http://www.youtube.com/watch.php?v=pFMXfGvDRts

[Shkspr]

Originally Posted by RadioFriendlyUnitShifter

Actually, duckman, that's where you're wrong. The money is actually going to the Shkspr Analogy Fund, which allows Shkspr to take time off from working so that he can think of exciting new analogies to make us all feel stupid.

C'mon RFUS, that doesn't take WORK...