Which payment option would you choose if you won the lottery?

[55]

Re: Which payment option would you choose if you won the lottery?

Brandon, you don't have to choose between lump sum or annuity until you claim your prize after you win. Once you get to the lottery office, they'll ask you and present you with the proper paperwork depending on your choice. Also, if anybody from here does win, do NOT claim your prize without an attorney present. Hire the best one you can find (you can afford it now) and discuss your options first. Also, sign the back of your winning ticket IMMEDIATELY once you win. Good luck tonight, homies.

[redsox4evur]

Re: Which payment option would you choose if you won the lottery?

http://finance.yahoo.com/news/heres-mark-cubans-advice-winner-135430907.html

Mark Cuban's advice for winners. Gotta say this is some pretty good advice. And as much of an *** as he seemed to be before doing Shark Tank, dude is really smart.

[SuperBowlNachos]

Re: Which payment option would you choose if you won the lottery?

Only thing I'd disagree on is the point on not taking a lump sum. There is no way I'm trusting that there is actual money to pay me in 25-30 years. I'll sacrifice the $400 million.

[CC]

Re: Which payment option would you choose if you won the lottery?

I've played the lotto only once in my life prior to today (other than screwing around on Keno), but this jackpot is just too ridiculous so I went and got some tickets today.

[23]

Re: Which payment option would you choose if you won the lottery?

Only thing I'd disagree on is the point on not taking a lump sum. There is no way I'm trusting that there is actual money to pay me in 25-30 years. I'll sacrifice the $400 million.

I have an idea for Mark Cuban. From now on this is how he should attract free agents.

Tell him to tell the next big free agent to skip taking the max and just take small payments for a few years

Lets see what his team looks like then

[slickdtc]

Which payment option would you choose if you won the lottery?

I've played the lotto only once in my life prior to today (other than screwing around on Keno), but this jackpot is just too ridiculous so I went and got some tickets today.

I keep seeing this and it doesn't make sense to me. Your odds of winning don't get any better the higher the jackpot. In fact, since most actually subscribe to this thinking ("big jackpot so why not try"), it's more likely you'll have to split the winnings as more people play.

Which would probably make your winnings the equivalent of any other time you played when there was a modest jackpot.

So if you're gonna play, just play!

Despite my anti-lottery sentiment, the thought is so appetizing, almost intoxicating. I can see why people get sucked in to it. But since a lot of us here love stats due to their nature of use in sports, it's simply a numbers game and they don't work out.

Of course, you can play just for fun. There is a thrill attached to it. Not everyone is so damn analytical.

I apologize for this rant. The psychological aspect is so fascinating.

[CC]

Re: Which payment option would you choose if you won the lottery?

A hundred million doesnt do it for me. Chump change.

[kehlis]

Which payment option would you choose if you won the lottery?

I keep seeing this and it doesn't make sense to me. Your odds of winning don't get any better the higher the jackpot. In fact, since most actually subscribe to this thinking ("big jackpot so why not try"), it's more likely you'll have to split the winnings as more people play.

Which would probably make your winnings the equivalent of any other time you played when there was a modest jackpot.

So if you're gonna play, just play!

Despite my anti-lottery sentiment, the thought is so appetizing, almost intoxicating. I can see why people get sucked in to it. But since a lot of us here love stats due to their nature of use in sports, it's simply a numbers game and they don't work out.

Of course, you can play just for fun. There is a thrill attached to it. Not everyone is so damn analytical.

I apologize for this rant. The psychological aspect is so fascinating.

Actually that's exactly the reason people will now spend a few bucks for a ticket.

The jackpot is always more than anyone needs one way or the other so by your thinking people who"want to play" should be throwing away money for a near impossible chance every Wednesday and Saturday.

Most people can't justify practically wasting money twice a week for nothing.

When those who don't regularly play see an astronomical jackpot, the insanely rich payout makes it easier to justify probably wasting money once or twice a year rather than 104 times a year.

[TripleCrown9]

Re: Which payment option would you choose if you won the lottery?

The list of teams you could afford with the lump sum is out.

NHL:

Spoiler

Any of them. Literally take your pick.

NBA:

Spoiler

Wolves, Bucks, 76ers, Pelicans, Grizzlies, Hornets, Pistons, Kings, Pacers, Hawks, Nuggets, Jazz, Wizards, Magic, Cavaliers, Suns, Thunder, Raptors

MLB:

Spoiler

Marlins, Rays, Athletics, Royals, Indians, Astros, Rockies, D'Backs, Brewers, Blue Jays, Padres, Reds, Pirates, Twins

NFL:

Spoiler

lolnope

[BunnyHardaway]

Re: Which payment option would you choose if you won the lottery?

I keep seeing this and it doesn't make sense to me. Your odds of winning don't get any better the higher the jackpot. In fact, since most actually subscribe to this thinking ("big jackpot so why not try"), it's more likely you'll have to split the winnings as more people play.

Which would probably make your winnings the equivalent of any other time you played when there was a modest jackpot.

So if you're gonna play, just play!

Despite my anti-lottery sentiment, the thought is so appetizing, almost intoxicating. I can see why people get sucked in to it. But since a lot of us here love stats due to their nature of use in sports, it's simply a numbers game and they don't work out.

Of course, you can play just for fun. There is a thrill attached to it. Not everyone is so damn analytical.

I apologize for this rant. The psychological aspect is so fascinating.

Was listening to Le Batard today and they put it into sports context. It'd be like having 3650 AT&T Stadiums and a jackpot sticker being underneath one single seat.

[NDAlum]

Re: Which payment option would you choose if you won the lottery?

Actually that's exactly the reason people will now spend a few bucks for a ticket.

The jackpot is always more than anyone needs one way or the other so by your thinking people who"want to play" should be throwing away money for a near impossible chance every Wednesday and Saturday.

Most people can't justify practically wasting money twice a week for nothing.

When those who don't regularly play see an astronomical jackpot, the insanely rich payout makes it easier to justify probably wasting money once or twice a year rather than 104 times a year.

This is the boat I'm in. It's become more of an entertainment thing. I'm not banking my life vital investments on the lottery. Once in a while for a couple dollars for fun/entertainment? Why not?

[p_rushing]

Re: Which payment option would you choose if you won the lottery?

Brandon, you don't have to choose between lump sum or annuity until you claim your prize after you win. Once you get to the lottery office, they'll ask you and present you with the proper paperwork depending on your choice. Also, if anybody from here does win, do NOT claim your prize without an attorney present. Hire the best one you can find (you can afford it now) and discuss your options first. Also, sign the back of your winning ticket IMMEDIATELY once you win. Good luck tonight, homies.

This actually varies by state. Some you have to declare when you buy it or it will just say cash option if you don't say otherwise.

Sent from my SM-G925V using Tapatalk

[kehlis]

Re: Which payment option would you choose if you won the lottery?

This actually varies by state. Some you have to declare when you buy it or it will just say cash option if you don't say otherwise.

Sent from my SM-G925V using Tapatalk

It varies by state for the state lottery, not the powerball.

[Knight165]

Re: Which payment option would you choose if you won the lottery?

This is the boat I'm in. It's become more of an entertainment thing. I'm not banking my life vital investments on the lottery. Once in a while for a couple dollars for fun/entertainment? Why not?

Exactly.....I rarely play....
It's just for ****s and giggles when it gets ludicrous.

M.K.
Knight165

[TheMatrix31]

Re: Which payment option would you choose if you won the lottery?

I keep seeing this and it doesn't make sense to me. Your odds of winning don't get any better the higher the jackpot. In fact, since most actually subscribe to this thinking ("big jackpot so why not try"), it's more likely you'll have to split the winnings as more people play.

Which would probably make your winnings the equivalent of any other time you played when there was a modest jackpot.

So if you're gonna play, just play!

Despite my anti-lottery sentiment, the thought is so appetizing, almost intoxicating. I can see why people get sucked in to it. But since a lot of us here love stats due to their nature of use in sports, it's simply a numbers game and they don't work out.

Of course, you can play just for fun. There is a thrill attached to it. Not everyone is so damn analytical.

I apologize for this rant. The psychological aspect is so fascinating.

Actually, the bigger the jackpot, the better your "expected return" would be. It's not quite at a break-even point right now after taxes and such but if nobody wins, it could very well be considered a "rational investment" next time around, where you put in $2.00 and your "expected return" is $2.01.

For more on this, http://thefederalist.com/2016/01/12/...erball-ticket/

I definitely understand why people only play when the jackpot is bigger. Mathematically, it makes more sense. Not necessarily always about the "what, 50 million isn't enough for you?" thing.