Money Powerball is $600 Million. If you win, do you still post on Chiefsplanet? - Page 8

**BigRedChief** · 05:51 PM

Wondering is you had more money than you spend, would you still post, visit the Planet?

The guy who started Dropbox may be worth $100 million+ and he still visits once a year or so.

Would you?

**Rain Man** · 05-18-2013, 03:47 PM

Quote:

Originally Posted by Stanley Nickels

Unless there are multiple winners, which is ... probable? Improbable but still possible? I don't know how to phrase that it's possible that two or more people will get a 1:175,000,000 sequence of numbers, just due to the sheer number of tickets sold..

Hmm, good point. That might change the breakeven point.

**BigRedChief** · 05-18-2013, 03:48 PM

Quote:

Originally Posted by DaFace

I think my favorite so far was being killed by a falling coconut.

I like that one.

**Bowser** · 05-18-2013, 03:49 PM

I've always heard that if you won a powerball jackpot and took the lump sum, you end up with roughly 30% of the amount after all taxes are settled.

200 million-ish in my pocket would be ok with me.

Hog's Gone Fishin · 05-18-2013, 03:51 PM

Quote:

Originally Posted by DaFace

I think my favorite so far was being killed by a falling coconut.

Going to Hawaii NOW , going to stand under as many coconut trees as possible to improve my odds.

I gotta win this sucker.

**Bowser** · 05-18-2013, 03:57 PM

Quote:

Originally Posted by Hog Farmer

Going to Hawaii NOW , going to stand under as many coconut trees as possible to improve my odds.

I gotta win this sucker.

**BigRedChief** · 05-18-2013, 03:58 PM

Quote:

Originally Posted by Rain Man

Hmm, good point. That might change the breakeven point.

Has any millionaires tried to win the lottery?

**Bowser** · 05-18-2013, 04:02 PM

Quote:

Originally Posted by BigRedChief

Has any millionaires tried to win the lottery?

IIRC, the first person to win a powerball jackpot over 300 million was a millionaire businessman from somewhere back east (Carolinas?). His story was a disaster - one of his grandaughter's friends was found dead in his pool, and supposedly some people got access to his accounts and cleaned him out.

Again, IIRC.

**Rain Man** · 05-18-2013, 04:15 PM

Quote:

Originally Posted by BigRedChief

Has any millionaires tried to win the lottery?

Apparently a group of Australians bought $5 million of Virginia lottery tickets in 1992 and won: http://www.forbes.com/sites/joshbarr...-millions-win/

**alnorth** · 05-18-2013, 04:38 PM

Quote:

Originally Posted by Stanley Nickels

Unless there are multiple winners, which is ... probable? Improbable but still possible? I don't know how to phrase that it's possible that two or more people will get a 1:175,000,000 sequence of numbers, just due to the sheer number of tickets sold..

Yeah, the likelihood of multiple winners, which is exacerbated when casual players jump aboard when the jackpot is huge, assures that the expected value will always be < $2.

**SAUTO** · 05-18-2013, 04:51 PM

Quote:

Originally Posted by Bowser

IIRC, the first person to win a powerball jackpot over 300 million was a millionaire businessman from somewhere back east (Carolinas?). His story was a disaster - one of his grandaughter's friends was found dead in his pool, and supposedly some people got access to his accounts and cleaned him out.

Again, IIRC.

I think the stripper and her boyfriend robbed him. They also found the granddaughter dead hidden in the back of a truck
Posted via Mobile Device

Hydrae · 05-18-2013, 05:08 PM

Quote:

Originally Posted by Bowser

I've always heard that if you won a powerball jackpot and took the lump sum, you end up with roughly 30% of the amount after all taxes are settled.

200 million-ish in my pocket would be ok with me.

The high tax figures and the way so many people go through the large amount of money within a couple of years are why, when I actually spend money on the lottery (very seldom), I ask for the annuity payout. You get more total and you are guaranteed a very large income for many years (probably the rest of my life at this point).

600 million paid over 25 years = 24 million per year before taxes. It might be a little rough but I think I can survive on that for a few years before needing to find a job again.

Pepe Silvia · 05-18-2013, 05:24 PM

Yes, I would post from my yacht.

**alnorth** · 05-18-2013, 07:12 PM

Quote:

Originally Posted by Bowser

I've always heard that if you won a powerball jackpot and took the lump sum, you end up with roughly 30% of the amount after all taxes are settled.

200 million-ish in my pocket would be ok with me.

Keep in mind, the advertised jackpot doesn't actually exist. The cash they have on hand to pay the winner is the lump-sum payment. If you choose the $600MM option, you are basically telling them to hold your money for you, invest it in an annuity, and pay you from it each year. They calculated that with interest, you'll eventually get that higher number.

If you want an annuity, you could buy one yourself. The tax difference doesn't matter much (except maybe in CA where they have a million dollar bracket), you are way into the top bracket either way, and if you take the annuity, maybe they raise taxes in 10 years.

If the lottery winner is either dumb, a spendthrift, or weak-willed enough to be taken advantage of, they should do the annuity. If the winner is smart, they should take the cash.

**TribalElder** · 05-18-2013, 09:10 PM

Welp shit

ClevelandBronco · 05-18-2013, 09:13 PM

Okay. I'm going to need a price.

This site is going to look great in orange and blue.

View Poll Results: Would you still visit the Planet?
I would still visit the same amount	56	42.75%
I'd visit more often, maybe even buy the Planet	32	24.43%
I'd be outta here	5	3.82%
Visit only rarely to rub it in your faces	9	6.87%
Yeah but not as much	26	19.85%
Gaz will win the lottery anyway	3	2.29%
Voters: 131. You may not vote on this poll

05-17-2013, 05:45 PM
BigRedChief Has a particular set of skills Join Date: Dec 2003 Location: On the water Casino cash: $3179627 VARSITY	Powerball is $600 Million. If you win, do you still post on Chiefsplanet? Wondering is you had more money than you spend, would you still post, visit the Planet? The guy who started Dropbox may be worth $100 million+ and he still visits once a year or so. Would you? Last edited by BigRedChief; 05-17-2013 at 05:51 PM..
Posts: 78,971

05-18-2013, 03:49 PM	#108
Bowser sorta mod-ish Join Date: Jan 2004 Location: KC North Casino cash: $3481616	I've always heard that if you won a powerball jackpot and took the lump sum, you end up with roughly 30% of the amount after all taxes are settled. 200 million-ish in my pocket would be ok with me.
Posts: 100,566

05-18-2013, 05:24 PM	#117
Pepe Silvia MVP Join Date: Oct 2012 Casino cash: $1944664	Yes, I would post from my yacht.
Posts: 16,555

05-18-2013, 09:10 PM	#119
TribalElder Arrowhead Trail of Tears Join Date: Oct 2012 Location: KansasCity Casino cash: $2440441	Welp shit
Posts: 29,115

05-18-2013, 09:13 PM	#120
ClevelandBronco I'm with the banned. Join Date: Sep 2006 Casino cash: $5658955	Okay. I'm going to need a price. This site is going to look great in orange and blue.
Posts: 28,113