you got to be in it to win it

11/23/2012 4:26:37 PM

or do you?

11/23/2012 4:28:31 PM

You cannot lose if you do not play.

11/23/2012 4:34:42 PM

11/23/2012 4:38:50 PM

425

11/26/2012 4:12:32 PM

office pool officially organized

11/26/2012 4:15:35 PM

boosted to $500 million

11/27/2012 2:32:09 PM

Bought a ticket. I don't know what I would do if I actually won.

11/27/2012 2:33:46 PM

i need to buy my ticket before tomorrow night

11/27/2012 2:39:03 PM

I know what I'd do... 499 million on hookers and blow. Then I'd waste the rest.

11/27/2012 2:42:24 PM

Annuity or lump sum?

11/27/2012 2:45:56 PM

anything but lump sum is just crazy

11/27/2012 2:46:32 PM

nvm, did the math incorrectly. lump sum.

[Edited on November 27, 2012 at 2:52 PM. Reason : .]

11/27/2012 2:50:20 PM

Indian lottery upto $3.4Billion

HELENA, Mont. (AP) — After nearly 17 years of courtroom arguments, congressional negotiations and Indian Country bickering, hundreds of thousands of Native Americans could see the first payments of a $3.4 billion U.S. government settlement by the end of the year, plaintiffs' attorneys said Monday.

11/27/2012 2:51:39 PM

can you will the annuity? in other words, does someone get the money, no matter what?

in any case, i'll take the loss just to have that cash monies in the here and now...who knows what might happen 5, 10, 15 years down the road

11/27/2012 2:52:07 PM

^^ That much cash in hand, invested properly, will more than make up the difference.

11/27/2012 2:53:01 PM

^^ I don't think so

11/27/2012 2:54:34 PM

^ if that's the case, the lump sum decision is even easier

11/27/2012 2:55:16 PM

and your kids will learn to hate estate taxes

form that trust! can you set up a trust for lottery winnings after winning, but before accepting the prize?

11/27/2012 2:57:07 PM

Ok very stupid question, but I'm not a gambler and don't play the lottery.

Does any gas station that sells scratch-offs also sell power-ball?

11/27/2012 4:05:43 PM

Most probably. I don't know why they wouldn't, but it is my understanding that merchants can choose the exact games they want to provide. I've never seen that (^) scenario; I've see ball games only (no scratch offs); and I've seen very limited scratch offs with ball games; and I've seen lottery mega stores.

[Edited on November 27, 2012 at 4:08 PM. Reason : .]

11/27/2012 4:08:20 PM

^^ If they sell Powerball/Mega Millions they should have some type of sign in the window advertising the fact. I've even seen some gas stations now with electronic signs that change to reflect the pot as it increases.

11/27/2012 4:09:59 PM

Got my tickets today in a group buy with engineering group. Come on big money!!

On a side note....does living in Texas up my chances of winning texa$

11/27/2012 4:18:59 PM

now up to 327 cash or 500 annuity.

going to have to get more tickets tonight.

11/27/2012 4:37:00 PM

Alright I'm buying one.

11/27/2012 4:48:53 PM

In NC, it will be $222,632,000 after taxes.

http://www.usamega.com/powerball-jackpot.asp

Quote :

"North Carolina: 7% State Tax - $1,166,667 - $22,918,000 Your average net per year: $11,333,333 Your net payout: $222,632,000 After 30 payments: $339,999,990"

11/27/2012 5:28:56 PM

At roughly 175 million to 1 you've actually got statistically correct odds to play the lottery.

11/27/2012 5:31:06 PM

but at $2 a ticket youd lose money, correct?

11/27/2012 5:36:54 PM

Just bought my ticket. Its nice to have something to look forward to only to have all hopes And dreams crushed..... until next week

11/27/2012 5:37:41 PM

Yeah, after taxes at $2 per ticket it's incorrect odds. Is it $2 per ticket?

11/27/2012 5:43:57 PM

yea

11/27/2012 5:45:42 PM

Fuck it, I'm probably still going to buy one when I stop at the gas station before I go talk one of my employees off the ledge tonight.

[Edited on November 27, 2012 at 5:54 PM. Reason : fsdf]

11/27/2012 5:49:23 PM

I just met myself from the future and apparently I won and was rich enough to purchase a time machine

11/27/2012 6:01:33 PM

Did future you give you the numbers thus creating a weird paradox?

11/27/2012 6:02:40 PM

Wouldn't it make more sense to buy a ticket when less people are interested?

If the jackpot were only like 1 million but no one cared, that's when i'd buy a ticket...

[Edited on November 27, 2012 at 6:26 PM. Reason : derp]

11/27/2012 6:22:48 PM

not sure if serious

11/27/2012 6:24:05 PM

Sure, if number of tickets purchased had any effect on your odds of winning. The only thing that more tickets purchased does is increase the jackpot size and potentially increase the number of winning tickets very marginally.

11/27/2012 6:24:15 PM

gettin a job is up to $infinity

I'm Krallum and I approved this message.

11/27/2012 6:25:14 PM

And the lump sum is always mathematically a better deal.

Because you can take the lump and invest it for $texas and thrive off the investments alone (you could thrive off the interest from the lump alone), that you aren't as able to do with the annuity.

Pe^RT

11/27/2012 6:25:23 PM

Would not mind quitting my job tomorrow.

11/28/2012 8:31:15 AM

i wouldn't quit my job until after i'd met with a lawyer and assembled a legal/financial team to protect the cash monies

so it'd be a couple of weeks, at least

11/28/2012 8:37:02 AM

Many/most large jackpot winners end up having to quit their job in a process more ugly than not.

11/28/2012 8:50:43 AM

Quote :

"Sure, if number of tickets purchased had any effect on your odds of winning. The only thing that more tickets purchased does is increase the jackpot size and potentially increase the number of winning tickets very marginally."

This isn't marginal.

http://en.wikipedia.org/wiki/Lottery_jackpot_records

The average number of winners, just from this is 1.67. That's saying that you're reducing the jackpot by about 40% right off the bat. Everyone who's calculated a positive expected value of the tickets didn't include this factor.

11/28/2012 8:54:59 AM

If only you could win it without the whole world finding out your name. That's when all the nut jobs and donation groups hit you up constantly for money. Gotta move and change your number ASAP, haha.

11/28/2012 9:16:22 AM

Quote :

"Many/most large jackpot winners end up having to quit their job in a process more ugly than not. "

Why would they have to quit their job?

Quote :

"The average number of winners, just from this is 1.67. That's saying that you're reducing the jackpot by about 40% right off the bat. Everyone who's calculated a positive expected value of the tickets didn't include this factor."

I'd still be okay with 250 million dollars.

[Edited on November 28, 2012 at 9:26 AM. Reason : a]

11/28/2012 9:25:03 AM

Quote :

"In NC, it will be $222,632,000 after taxes. http://www.usamega.com/powerball-jackpot.asp"

Just in case you win...

That is the amount you receive after taxes are withheld, however, they only withhold 25% federal taxes. You're still on the hook for the other 10% in federal taxes. Also remember that state taxes are deductible from your AGI. You can assume you will take home about 60% (unless you win next year and the fed rates increase).

[Edited on November 28, 2012 at 12:27 PM. Reason : ~216M now that the jackpot is 550Mil]

11/28/2012 12:25:39 PM

like you'd complain about winning $216 million after spending a couple of dollars

CANT BELIEVE THE TAXES MAN

LET ME CRY INTO THESE STACKS OF BENJAMINS

11/28/2012 12:34:39 PM

.550 bil now

11/28/2012 12:39:21 PM

^^ completely agree.

11/28/2012 12:46:39 PM

I could care less about taxes. I'd still be rich.

11/28/2012 1:11:32 PM