Powerball has a winner !

Rob

Rob

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It looks like powerball had a single winner in Maryland.
$730 million!
 
Darn it!
 
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Now I guess I'll just have to win the Mega millions.
Estimated to be $970,000,000
for the 1/21 drawing.

That kind of money could change your life!
 
Rob said:
It looks like powerball had a single winner in Maryland.
$730 million!
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my sister name is Mary and she has a decent size of land 😀
 
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llaht said:
next mega is 1.22
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Mo money, mo problems!
But I'm willing to take them on (from my island off the coast of Panama)
 
What is "megaplier"? You can tell I do not play the lottery very often.
 
ECNC said:
What is "megaplier"? You can tell I do not play the lottery very often.
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For an extra $1, ($3 per ticket vs $2 standard ticket) all prizes up to the jackpot are doubled.
 
Rob said:
For an extra $1, ($3 per ticket vs $2 standard ticket) all prizes up to the jackpot are doubled.
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Could be tripled or quadrupled, maybe even 5 times. It depends on what the multiplier is for that drawing.
 
In "Lead the Field: Let's Talk About Money" Earl Nightingale said, "Nothing will take the place of money in the area in which money works." "The earning and possession of money has brought a lot more happiness than has poverty."
 
So riddle me this, numbers are rounded.

You just won the Powerball, take the cash option of $465 mil.

The odds of winning the Mega Million is about 300 million to one.

So you buy 300 million Mega Million tickets with your Powerball winnings, one of every possible combination of numbers.

Are you guaranteed to win the Mega?

.
 
Gator said:
So riddle me this, numbers are rounded.

You just won the Powerball, take the cash option of $465 mil.

The odds of winning the Mega Million is about 300 million to one.

So you buy 300 million Mega Million tickets with your Powerball winnings, one of every possible combination of numbers.

Are you guaranteed to win the Mega?

.
Click to expand...
If you buy every possible combination you would have to win, but what if someone else (or 2 or 3 even) pick the same numbers and you have to split the pot? You just lost a lotta $$.
 
With a $413 million payout I'd buy myself a town (Timfoilhattown) and vote myself sheriff. Then I'd build a small vacation rental property. Then I'd sell time shares to the property, but it's not your typical vacation. You'd have to commit one week a year to being a working deputy in Timfoilhattown. In return you would get deputy credentials, LEOSA would cover you, and NFA stuff could be purchased. We'd also have a general store and make good on the old joke...we'd call it Alcohol, Tobacco, and Firearms.
 
Gator said:
So riddle me this, numbers are rounded.

You just won the Powerball, take the cash option of $465 mil.

The odds of winning the Mega Million is about 300 million to one.

So you buy 300 million Mega Million tickets with your Powerball winnings, one of every possible combination of numbers.

Are you guaranteed to win the Mega?

.
Click to expand...


*IF* you did that, and *IF* you won, you'd still be - at a minimum - 150 million in the hole. Tickets are $2/ea. So an investment of 600 million to win 450 million. You'd win a lot of $2 prizes and up but you still wouldn't break even. Then if someone else got the same jackpot numbers numbers.....well you can add 230 million to your debt.
 
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To get the full $970 million, you take $14,599,892 the first day, then an amount that increases by 5% a year for the next 29 years for 30 total payments. The net present value of those payments at 1.75468% is $716.3 million. So you're still better off to take the lump sum and pay the tax because the entire $970 million is not actually earning interest. Note: it is included in your estate so someone would get it, less estate taxes.

The taxes are pretty close. However, based on today's gift and estate taxes any gifts over $11.7 million and $15,000 per donee per year is taxed at 40%.

So say, even though I haven't given this much thought <snicker>, I took the $716.3 million, donated $80 million to charities, paid income taxes to IRS and NC of $268 million, gave $98 million to close family, $98 million to others, and kept $98 million, my gift taxes are $73 million. 80+268+98+98+98+73=715 and the rest is rounding.

@Majicmike, you're not on the list but I'd buy you some ammo!
 
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By the way, I always thought I'd put half into triple net rental real estate. In today's market it yields about 5.8%. $49 million would net me $175,000 per month, I could spend $49 million, and someone would inherit the triple net real estate when I die.
 
I bought 10 tickets for 20$ I got 3 powerball numbers right so I got 12$ back. I was in the break room eating lunch and thinking about my bad luck and then a loudmouth co worker came in all pissed off saying she spent 100$ on tickets and got back 8$.... somehow I left the room feeling like a winner
 
Here's an interesting tidbit. You really can't be anonymous in NC if you win the big prize. It's my understanding even if you set up a trust or other entity to buy the tickets and you win, someone has to be a natural person to represent the entity and claim the prize. But, in the NC General Statutes...

(j1) If requested by the prize winner, the identity of a prize winner of fifty million dollars ($50,000,000) or more shall be treated as confidential information under G.S. 132-1.2(8) until 90 days after the winner has claimed the prize.

That gives you time to get the hell out of Dodge City before you are mobbed.
 
They can put my identity out if I win the Mega Millions tonight because I'll have four or five Chuck Norris dudes as bodyguards!
 
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