Anybody buying powerball tickets for half a billion?

[seaborneq]

I'm in. Will gamble it all back.

[Chi_archie]

good luck

is it available in Illinois?

[Russian Rocket]

I might throw a hundo for this Sat drawing

[Russian Rocket]

good luck

is it available in Illinois?

yes

[marcoloco]

i only play once it reaches half a billion

[Smoke]

Waste of money unless you buy with a group of people

[mynameismud]

Waste of money unless you buy with a group of people

you just never know. a lot of winners have only bought 1 quick pick.

[Smoke]

you just never know. a lot of winners have only bought 1 quick pick.

The odds are horrible though

[mynameismud]

The odds are horrible though

the odds are astronomical and i agree that its is a waste of money even though i play. i just know you cant win if you dont play. whats life without being able to dream.

[newguy]

The odds are horrible though

Odds of winning ~= 1 in 175 million

Winning jackpot = 475 million
Cost of winning ticket = $2
Expected ROI = $5.43

Seems + ev to me.

[Smoke]

the odds are astronomical and i agree that its is a waste of money even though i play. i just know you cant win if you dont play. whats life without being able to dream.

Very true

[tto827]

Odds of winning ~= 1 in 175 million

Winning jackpot = 475 million
Cost of winning ticket = $2
Expected ROI = $5.43

Seems + ev to me.

Except for the fact that you don't get anywhere near $475 million. Lump sum after taxes might not even be $150 million. And with time value of money, the lump sum is without a doubt the better option. Probably not even collecting $80 million if you drag the payments out over however long.

[Smoke]

Tito ice pick sharp

[itchypickle]

I wanna throw in 50 SBR points to get a ticket

[odog11]

Odds of winning ~= 1 in 175 million

Winning jackpot = 475 million
Cost of winning ticket = $2
Expected ROI = $5.43

Seems + ev to me.

I only play when Jackpot reaches +ev and you can also win lesser amounts so definitely a +ev proposition. One thing you did not factor in though is that more than one person could win, as I remember did happen on one of these mega jackpots a few years ago. Not that likely, but they get such heavy action on these it is not that unlikely.

[Vegas39]

Except for the fact that you don't get anywhere near $475 million. Lump sum after taxes might not even be $150 million. And with time value of money, the lump sum is without a doubt the better option. Probably not even collecting $80 million if you drag the payments out over however long.

Talked on news about this last night. After federal Taxes lump sum would be 225 if ticket bought in Cali. 208 if bought in AZ

[TheMoneyShot]

all you need is one ticket to win. Don't understand why people blow more money? Isn't it $2 for a ticket? Spend the 2 bucks... and let God, Karma, Buddha, or your Faith in general decide if you deserve the jackpot or not. It's how simple it is.

[tto827]

Talked on news about this last night. After federal Taxes lump sum would be 225 if ticket bought in Cali. 208 if bought in AZ

This website breaks it down by state, pretty cool actually.

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

Lump sum is over 63%... I always thought it was a lot closer to 50%. Dunno if I am getting a ticket today, but if no one wins, definitely worth it to get one next go around.

[Vegas39]

This website breaks it down by state, pretty cool actually.

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

Lump sum is over 63%... I always thought it was a lot closer to 50%. Dunno if I am getting a ticket today, but if no one wins, definitely worth it to get one next go around.

Great link thanks

[newguy]

Except for the fact that you don't get anywhere near $475 million. Lump sum after taxes might not even be $150 million. And with time value of money, the lump sum is without a doubt the better option. Probably not even collecting $80 million if you drag the payments out over however long.

See others responded with the links on actual collecting - and agree that you don't get all that. Real variable is taxes. That said - you do get the $475 if you take it in annual payments (minus taxes of course) - so its up to each person to decide if they can beat that via investment vehicles. Think I read the annuity version is effectively paying you a 8% ROI, so you need to be able to beat 8% in investment vehicles. Can be done for sure - just depends on what you want to do with it.

All that said, throw the $200m into different investments returning 5% and you could live a life of luxury without even touching the principal. It would pay about $10 million, reinvest 5, pull out the other 5, pay up to 40% taxes and you would still have over $250k each month to burn through

[The Kraken]

Taxes and risk of ruin make this -ev. I play it regardless. Just in case.

[tto827]

See others responded with the links on actual collecting - and agree that you don't get all that. Real variable is taxes. That said - you do get the $475 if you take it in annual payments (minus taxes of course) - so its up to each person to decide if they can beat that via investment vehicles. Think I read the annuity version is effectively paying you a 8% ROI, so you need to be able to beat 8% in investment vehicles. Can be done for sure - just depends on what you want to do with it.

All that said, throw the $200m into different investments returning 5% and you could live a life of luxury without even touching the principal. It would pay about $10 million, reinvest 5, pull out the other 5, pay up to 40% taxes and you would still have over $250k each month to burn through

They do not pay any interest on the annuity. They give you the $475 mil minus taxes paid out over 30 years

http://www.usamega.com/powerball-jackpot-annuity.asp?state=AZ&d=

[Russian Rocket]

Except for the fact that you don't get anywhere near $475 million. Lump sum after taxes might not even be $150 million. And with time value of money, the lump sum is without a doubt the better option. Probably not even collecting $80 million if you drag the payments out over however long.

jackpot = $550 million
cash value =$350.1 million Valu

e

[Smoke]

Rusher buy me a couple tickets im broke guey

[Russian Rocket]

Rusher buy me a couple tickets im broke guey

ok smoker I'll buy you 5 tickets

[Deuce]

Better odds at the Cubs winning the series, Jaguars winning the Super Bowl.

Just think about that.

[mynameismud]

estimated jackpot for saturday = 550 million

cash value = 350.1 million

after taxes = approximately 228 million.

anyone who would take the annuity over the lump sum is a fool.

[Vegas39]

bet it closer to 600

Will buy a few when in Cali tonight

[boeing power]

I'm in. Will gamble it all back.

Seaweed,

dont forget we are on the halves if you win.

[Russian Rocket]

bet it closer to 600

Will buy a few when in Cali tonight

it's already at 550...we might add another 100 to that by Sat night

[Smoke]

ok smoker I'll buy you 5 tickets

Thanks buddy. Choose the lump sum option

[mynameismud]

very good chance there will be more than 1 winning ticket.

[Russian Rocket]

Thanks buddy. Choose the lump sum option

smoker my lawyers will be in contact with your lawyers

[seaborneq]

Doesn't make any difference which way you take the winnings unless you are over 65 years old.

[Big Bear]

I'm in. Will gamble it all back.

thats a clown queston bro