A few statistics and odds for you. If you win the next powerball drawing, statistics show you may be broke again in five years. ::)
For a person in the US, you are 14 or 17 times MORE likely to be elected president in the next election. :D :D
It's a government scheme to take money from the foolish and make someone very rich for a short time while keeping some to spend. I'm still going to get a few tickets anyway. ::)
We will still be buying ONE ticket, because that increases our chances of winning dramatically. :D
Got my ticket one can all ways hope ::)
A long time ago my coworker told me the lottery is a tax on stupidity. :D
I can't argue the statistical facts, but I still bought a few tickets for the last drawing (and won my money back 8)) and bought a few more for the next drawing.
All those lottery winners going broke drives me insane. I remember there was a tv show all about that. Just crazy. You don't have to be a genius to know how subtraction works :D
Good luck everybody
Haven't bought one and don't expect to. Not sure I'd want that much wealth especially if others knew it. I'd have to be worried about security, kidnapping of family members for ransom, people bugging me all the time to donate to their projects, etc. If I did win at least I could go ahead and buy a good used tractor with forks and bucket to use with my sawmill business.
Haven't heard of any winners having family members kidnapped for ransom. Maybe it just doesn't make the news. ;)
Quote from: Jeff on January 12, 2016, 02:46:08 PM
We will still be buying ONE ticket, because that increases our chances of winning dramatically. :D
You have an infinitely greater chance of winning the lottery by buying just one ticket.
First thing I would do if I won would be to get a 4x8 piece of plywood and paint it white, then paint 2 black letters on it and place it at the bottom of the driveway.
The 2 letters? NO
Yeah buy 1 ticket and your odds go from ZERO to 1 in 292.3 million.
Ill keep my 2 bucks for a couple of cups of senior coffee at Mickey Ds
Quote from: petefrom bearswamp on January 12, 2016, 04:38:05 PM
Yeah buy 1 ticket and your odds go from ZERO to 1 in 292.3 million.
Ill keep my 2 bucks for a couple of cups of senior coffee at Mickey Ds
I feel the same way but not the coffee don't think ill pass the age requirement :D :D
You will get old enough in a flash, just you wait
I am a very frugal person but I buy $5/week of lottery tickets most weeks because if you don't play, you can't win. I don't expect to win but the dreaming part is fun and I seldom buy coffee by the cup ;)
Quote from: petefrom bearswamp on January 12, 2016, 05:20:05 PM
You will get old enough in a flash, just you wait
:D :D they say your only as old as you feel :-\ :-X :-X :-X sprucebunny JMOP but the should out law coffee :o ;D
Quote from: beenthere on January 12, 2016, 03:38:30 PM
Haven't heard of any winners having family members kidnapped for ransom. Maybe it just doesn't make the news. ;)
Neighbor a few miles away won 330 mil back in early 2000. Took the 170 mil early payout. He has repeatedly said it brought him nothing but grief. One granddaughter OD'd on drugs in early 2006 and they first thought was kidnapping. Could have happened without the lottery money but made it easier.
And I don't know of anybody who has ever won over a billion. I'd like to be comfortable and travel more to remote areas but wouldn't want to be looking over my shoulder every minute.
My favorite definition of the lottery?
"The lottery is a tax on people who are bad at math".
Having said that, once the payout exceeds 400 million I find that my math skills degrade significantly... :D :D
I would have some BIG toys to rid someones land of rocks on Gordon Hill. ;D Than I would have to buy dirt to feel in a BIG basin bowl on someones land on Gordon Hill. ;D But I would have fun.
They say the proceeds are suppose to benefit senior citizens.. I don't mind buying some tickets. Common.. lady luck! Buy a 1000 acres.. widdle out a spot in the middle.. spend the rest of your days milling your way out. :)
I have never bought a ticket before, but tomorrow I am going to buy one. If I win, I think I will get back into farming until all the money is gone.
I may buy one tomorow or I may wait for it to get to realey big money . If I win I would have to buy more land to fill up with logging and firewood equipment .
Let's see. I would have to drive about 80 miles round trip to the nearest lotto store in Louisiana. That would cost me about 5 bucks just for gas.
I"ll just take a 150 mile round trip in the other direction and buy Miss PatD a nice Birthday lunch and my odds of getting lucky will vastly beat the lotto odds. smiley_love 8)
Quote from: Magicman on January 12, 2016, 10:06:18 PM
Let's see. I would have to drive about 80 miles round trip to the nearest lotto store in Louisiana. That would cost me about 5 bucks just for gas.
I"ll just take a 150 mile round trip in the other direction and buy Miss PatD a nice Birthday lunch and my odds of getting lucky will vastly beat the lotto odds. smiley_love 8)
Don't hurt yourself old feller. :D :D
I asked Lindy to buy a couple of tickets just for s&g.
Quote from: Cedarman on January 12, 2016, 03:45:55 PM
... First thing I would do if I won would be to get a 4x8 piece of plywood and paint it white, then paint 2 black letters on it and place it at the bottom of the driveway.
The 2 letters? NO
That won't stop the people who can't read, or the people who can read but
say they can't, or the people who "didn't see" the sign, or the people sneaking in the back way. :D :D
I asked the guy at the counter for a winning ticket. He sold me a losing ticket. Can I return it? :D
Quote from: Brucer on January 13, 2016, 12:31:51 AM
Quote from: Cedarman on January 12, 2016, 03:45:55 PM
... First thing I would do if I won would be to get a 4x8 piece of plywood and paint it white, then paint 2 black letters on it and place it at the bottom of the driveway.
The 2 letters? NO
That won't stop the people who can't read, or the people who can read but say they can't, or the people who "didn't see" the sign, or the people sneaking in the back way. :D :D
2nd thing is to get 3 or 4 big vociferous dogs. This will take care of those that can't or choose not to read. The deaf ones will only have to get close enough to see the dogs.
Bark, Bark, Teeth , Teeth. The dogs would be for show only, sure wouldn't want someone to get bit.
I would spend most of the money on factory timberland and keep enough to hire good managers. Then it should be self sustaining. But it may be like farming. :D :D
I would give no money to those that asked and help my friends and family that did not ask.
Any treasure hunter will tell you that the fun is the hunt. Finding the treasure is anticlimatic.
Running a business is much more fun than counting all of the money from it. The reason to get up in the morning is the thrill of the new day and its challenges, not how will I spend my money today.
I'm in the camp with those who don't buy in regularly, but when it goes up like this I do give in, buying one,
Just read an article on how much you really get after everyone takes their cut. You end up with ~$470MM after the man gets his share. I just don't know if that would be worth it. :D
Ive been thinking about winning the lottery for years. the funny thing is that I never bought a ticket until last week. I would hire the best tax lawyer, financial advisor, and security money can buy. Then I would buy a chunk of nowhere in the middle of the sandhills build a 10ft electric fence and raise buffalo. For the hell of it.
I like the sign on the driveway idea. I would add "gave it to St Jude childrens hospital" I might even do that ;D
Quote from: pineywoods on January 13, 2016, 09:31:49 AM
I like the sign on the driveway idea. I would add "gave it to St Jude childrens hospital" I might even do that ;D
They would surely get a chunk of it from me too,
Yes St. Judes and the Cancer Society would be right at the top of the list along with UNMC and a few others. Worked at the salebarn yesterday and we all chipped in for supper, had some change left that went for a ticket so I guess I'll have to split my winnings 4 or 5 ways :'( :D :D
Quote from: LeeB on January 13, 2016, 08:44:02 AM
Just read an article on how much you really get after everyone takes their cut. You end up with ~$470MM after the man gets his share. I just don't know if that would be worth it. :D
Is more than that. 1.3 b was an 806 m payout. So it's even higher then that now.
Quote from: Dave Shepard on January 13, 2016, 11:47:50 AM
Is more than that. 1.3 b was an 806 m payout. So it's even higher then that now.
now pay 39.5 % federal income tax out of the 806, and state/locality tax if yours has that... for most folks that will add another 5-10%.
a good rule of thumb is 1/3 of the advertized prize is yours if you take the all of it now option, and pay your taxes.
I saw somewhere that said if you win, call everyone you know, and ask them to lend you $500. Most if not all will say "NO". Then when they find out you won they'll be too embarrassed to ask you for money.
I got my ticket yesterday.
Jim Rogers
Quote from: Jim_Rogers on January 13, 2016, 01:40:34 PM
I saw somewhere that said if you win, call everyone you know, and ask them to lend you $500. Most if not all will say "NO". Then when they find out you won they'll be too embarrassed to ask you for money.
I got my ticket yesterday.
Jim Rogers
I like that one.
Gerald
Quote from: jdonovan on January 13, 2016, 01:10:24 PM
Quote from: Dave Shepard on January 13, 2016, 11:47:50 AM
Is more than that. 1.3 b was an 806 m payout. So it's even higher then that now.
now pay 39.5 % federal income tax out of the 806, and state/locality tax if yours has that... for most folks that will add another 5-10%.
a good rule of thumb is 1/3 of the advertized prize is yours if you take the all of it now option, and pay your taxes.
With a $1.5B prize that would be a fair rate of return for a $2 dollar ticket.
Gerald
Quote from: GAB on January 13, 2016, 03:39:36 PM
Quote from: jdonovan on January 13, 2016, 01:10:24 PM
Quote from: Dave Shepard on January 13, 2016, 11:47:50 AM
Is more than that. 1.3 b was an 806 m payout. So it's even higher then that now.
Gab,
Great return for the gov as they only have the price of printing the ticket and a little advertising.
now pay 39.5 % federal income tax out of the 806, and state/locality tax if yours has that... for most folks that will add another 5-10%.
a good rule of thumb is 1/3 of the advertized prize is yours if you take the all of it now option, and pay your taxes.
With a $1.5B prize that would be a fair rate of return for a $2 dollar ticket.
Gerald
Yes, I bought my first ticket after many many years of not buying any. I heard that 70 percent of the winners end up filing for bankruptcy. I have never went bankrupt yet so I hope I win.
Cheers
gww
I told somebody that I wouldn't check the numbers if I bought one. They said I would check it cause it would be all over the news that the winning ticket was bought at my gas station.
Maigicman,80 miles. :o Even the little country store in Chesterville sells lottery tickets. Big money when someones wins for them. Hard to drive even 10 miles without a store that sells them around here.
I read an article that suggested that you should not take a cash payout. The annuity is 22 million a year and it pays to your estate if you die. If you take the cash payout you would have to invest most of it to do as well as the annuity over time. Also with the annuity even if you screw up this years finances you will be fine next year. What the writer didn't consider was a person who would be naive enough to sign away future monies.
Cfarm a friend of mine owns a small store in Ontario with a lottery machine that sold a million dollar ticket and I think he go a couple hundred dollars. Used to be you got a fairly large payout but they trimmed it way back.
I would not trust them with the money. Take the lump sum and spend,spend,spend and have fun. ;D With my luck if I let them give me so much a year,I would go to get my yearly allotment and they would tell me they redirected the money and don't have it. :o
Probably they did the same thing for the store owners here. Seem like the paper would say the store got $10,000 or something like that for a big winner.
QuoteMaigicman,80 miles. :o Even the little country store in Chesterville sells lottery tickets.
Ray, Mississippi is one of the probably two (actually six) states in the country that does not allow lotto's or lotto ticket selling. Marty was within a couple of miles of Louisiana today so he picked up a couple of tickets. I am now officially a gambler.
Quote from: r.man on January 13, 2016, 05:54:14 PM
I read an article that suggested that you should not take a cash payout.
http://abc7chicago.com/news/illinois-lottery-is-not-paying-but-people-still-playing/1065516/
given the way the states run their finances, I'll take my money now, vs standing in line with the rest of the creditors.
Maine don't allow roadside billboards. Does that count? :D
There are some that spend way too much chasing the dream. If I spend $5 a week that is alot for me on tickets. After buying them for more than 20 years and MAYBE winning $1000 I know you don't get ahead.
I get gas and always kidding about how I win. :D The guy would say,I don't know how you do it. Easy,I would say,spend $20,win $2. :D
"you can't win if you don't play"
"you always win if you don't play"
Lot of good that did! :-\ ::) :-\ ::) :-\ ::) :-\ ::) :-\
So much for going home tomorrow. Guess i'll keep slogging it out for a few more years, and years, and years. The way the stock market is going looks like we're in for another crash. That ought to set me back until I'm around 80 before I can retire.
QuoteThat ought to set me back until I'm around 80 before I can retire.
I'm 72+ and counting, and I plan to be sawing Saturday.
At least I didn't have to take time out of my busy day to go pick up a check .
It's always good to have a backup plan. ;D
I have not checked my tickets. I could be sitting on a winner. With my luck it would be a $2 one. :D At least I broke even. ;D
Quote from: Magicman on January 14, 2016, 08:20:09 PM
It's always good to have a backup plan. ;D
Actually I do have a backup plan. I have a backhoe, small dozer, and a sawmill. The oilfield has always been cyclical in nature and these are my insurance in case of layoff during a bust.
Quote from: LeeB on January 13, 2016, 08:44:02 AM
Just read an article on how much you really get after everyone takes their cut. You end up with ~$470MM after the man gets his share....
Divided by 3 = $157 million (oops, forgot about multiple winners >:(.)
I hear that someone on Fox was telling people they should buy as many tickets as they could afford. The theory is that buying 2 tickets double your chances of winning, etc. Statistically, that's meaningless. Here's what the numbers actually say ....
Buy no tickets - 100.0000000% chance of losing.
Buy 1 ticket ----- 99.9999993% chance of losing.
Buy 2 tickets ---- 99.9999997% chance of losing.
Buy 3 tickets ---- 99.9999990% chance of losing.
That's why I don't buy tickets.