Powerball

[FlyerInHi]

[quote=poorgradstudent]Well, I was thinking of playing when the total was ~900M but I was a little too lazy to go buy a ticket.

Now that it’s gonna break 1.3B I’ll go buy at least one $2 ticket.[/quote]

I was thinking of a $2 ticket but I’m in Nevada now. I’d have to drive 45 min to the CA border at Primm to buy a ticket. There is a small store that caters to the lottery addict. I know of a guy who is broke but spends $300 per month on lottery. He’s got a system and he’s convinced he will win one day.

[moneymaker]

I splurged and went out and bought 26 tickets, one for every powerball number, that way I will definitely win something, a sure thing.

[FlyerInHi]

Good advice the winner. I hope it’s someone right here.

[moneymaker]

Bad logic on the not being taxed on interest earned in annuity, when you get the money believe me you will be taxed. I’m no tax expert but I think the best one could do is avoid being double taxed as much as possible. I hope it gets to $1 Billion cash payout, that would be cool. Though they still wouldn’t be able to claim title of Billionaire because the government probably takes their share up front.

[NotCranky]

I don’t want this money , it’s way too much money to accept for me and it would be worse to win and try to reject a bunch of it. It would be like trying to be one of those free divers who go down to 300 feet or whatever but with zero experience beyond a little body surfing or swimming at the local y pool. It wouldn’t be good. I like where I am at compared to having to deal with that, and if I tried to win something, shooting for a lot less makes more sense.

[La Jolla Renter]

[quote=moneymaker]I splurged and went out and bought 26 tickets, one for every powerball number, that way I will definitely win something, a sure thing.[/quote]

That may be the best strategy yet.

It sure would suck to get all five numbers and not the powerball.

[livinincali]

[quote=La Jolla Renter][quote=moneymaker]I splurged and went out and bought 26 tickets, one for every powerball number, that way I will definitely win something, a sure thing.[/quote]

That may be the best strategy yet.

It sure would suck to get all five numbers and not the powerball.[/quote]

Spending $52 to guarantee yourself $3 in CA, brilliant strategy indeed.

http://www.calottery.com/play/draw-games/powerball

[moneymaker]

Powerball should be worth atleast $5,just don’t want to be one of the 28 people last time that had all numbers except the powerball,of course that could still happen. Now at $1.5B

[no_such_reality]

[quote=moneymaker]Powerball should be worth atleast $5,just don’t want to be one of the 28 people last time that had all numbers except the powerball,of course that could still happen. Now at $1.5B[/quote]

I don’t know, as much as not getting a million for the five would suckI’m beginning to think it would be better than the jackpot. This is crazy money zone, as in all the crazies will come looking for you.

California publishes winners names. Can a trust claim a winning ticket?

If you win do you need to start sending your kid to school with a security guard to make sure they don’t get nabbed on the way home?

How long after claiming the prize before the media stops camping on your lawn?

Maybe we will be lucky and the winning numbers will match a fortune cookie and there will a thousand winners like several years back that matched five for five.

[FlyerInHi]

[quote=moneymaker]Bad logic on the not being taxed on interest earned in annuity, when you get the money believe me you will be taxed. I’m no tax expert but I think the best one could do is avoid being double taxed as much as possible. I hope it gets to $1 Billion cash payout, that would be cool. Though they still wouldn’t be able to claim title of Billionaire because the government probably takes their share up front.[/quote]

Actually the logic in the NYT article is correct. If you win, you would get less than the total. So you have to invest to get the same or more over time. You have to do the work, and you have to pay the taxes. But if you take the annuity, you pay taxes only when as you receive the annual payments.

[moneymaker]

Well I won $4, boo hoo. Went to the powerball site and was really surprised that virtually everyone in the history of powerball save 1 person and a mixed group of people took the cash allowance. Well maybe shouldn’t be too big a surprise for a group of people that have little impulse control.

[spdrun]

You’d be stupid not to. Who’s to say the lottery or the government will be solvent in 30 years? And a dollar now is probably worth 5x what it will be worth in 30 years (plus whatever you can earn with it), so better to get it now.

Put enough into property to garner an income of a million or two per year, inflation adjusted, do whatever you want with the rest.

[phaster]

[quote=moneymaker]Well I won $4, boo hoo. Went to the powerball site and was really surprised that virtually everyone in the history of powerball save 1 person and a mixed group of people took the cash allowance. Well maybe shouldn’t be too big a surprise for a group of people that have little impulse control.[/quote]

at least you won, I lost $4 on the drawing

was filling up at the gas station and went inside to buy one ticket, but the guy in front of me had a had a stack of tickets (heard something about “500”) so don’t know if it was $500 or 500 tickets

either way I felt had to double my bet, so that is why I lost $4 (now I have to figure out a way to make back my failed “investment”)

[La Jolla Renter]

[quote=phaster](now I have to figure out a way to make back my failed “investment”)[/quote]

time to double down on the next one… your hooked now. 🙂

I donated 10 bucks.

[phaster]

[quote=La Jolla Renter][quote=phaster](now I have to figure out a way to make back my failed “investment”)[/quote]

time to double down on the next one… your hooked now. 🙂

I donated 10 bucks.[/quote]

damn straight, the lottery is my “ticket” to the > .01%!

[Author]

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