Lottery's Biggest Loser

[Los Pollos Hermanos]

http://abcnews.go.com/US/lotterys-biggest-loser-albany-man-opted-mega-millions/story?id=13256437

Lottery's Biggest Loser: Albany Man Passed on Office Pool That Won $319 Million Jackpot
Man Could Have Been 8th Winner; Decided Not to Play Because He Didn't Feel Lucky
By BRADLEY BLACKBURN
March 30, 2011—


The group of seven lottery pool players that won last week's $319 million Mega Millions jackpot could have had an eighth member, but one unlucky man made a choice that cost him millions.

The New York co-worker who regularly played in the office pool opted out on the night they had the winning ticket, according to an Albany, N.Y., deli owner who knows the winners.

"They asked him a couple of times, and he didn't feel lucky," said Jill Cook, owner of Cook's Deli, where the group often comes for lunch.

She said she heard the news through buzz from the nearby office, adding that she felt "terrible" for the man.

Watch "World News With Diane Sawyer" for more on this story tonight on ABC.

The winners, apparently a group of New York state government IT professionals, have yet to come forward publicly to claim the prize. But lottery officials say they'll attend a news conference Thursday.

So far, the officials said, the winners have been huddling with lawyers and financial advisers as they prepare to split a jackpot worth $202.9 million after taxes, if they take the lump sum.

The group of seven includes a mix of older and younger employees who often bought lottery tickets together, Cook said.

The group didn't turn up for work Monday, Cook said, adding that she heard they have already quit their jobs. Many people who know them say the winning ticket couldn't have gone to better folks.

"It was a blessing to hear that they won. They're great, down-to-earth people," Cook said, adding that she didn't expect the group to squabble over the money.


Lottery Isn't Always Lucky
If there's any solace for the unlucky man who opted out, it may be the knowledge that big lottery jackpots sometimes come with big problems. All too often, winners can't handle the changes that come with an outsize check.

Take, for example, Jack Whittaker, who won the largest individual payout in lottery history, worth $315 million. After accepting the prize, Whittaker was sued, divorced and arrested for a DUI, among other wrenching family problems.

"It has certainly been a curse to me," Whittaker told ABC News.



Mega Millions Jackpot: Lottery Money Can't Buy You Everything
Big jackpot winners can also face family problems and kidnap threats, not to mention a parade of people who come out of the woodwork expecting help.

And even for those who can handle the money, there's also the simple truth that money can't buy you everything.

In Albany, Cook said she's happy for the winners. But if they come back to her deli for lunch, she said, they won't necessarily get special treatment.

"Just because you're millionaires," she said, "doesn't mean we're not going to screw up your food."

ABC's Emily Friedman and Jeremy Hubbard contributed to this report.

[ReynardMuldrake]

On the plus side, he's now been promoted to the head of the department.

[seclark]

if he never bought a ticket, he really didn't lose, did he?
sec

[DMAC]

If I won that much, I would just donate a SHIT TON of it, so that everyone knew most was gone.

[BigMeatballDave]

I ALWAYS participate in lottery pools at work. The one time I dont, they'll win. I couldnt deal with that.

[Rain Man]

He can be comforted by the fact that his intuition about not feeling lucky was correct.

[Los Pollos Hermanos]

if he never bought a ticket, he really didn't lose, did he?
sec

I heard on the radio that he usually participates in the pool. Just decided not to this time.

[DMAC]

Give the guy some cash... I sure would.

[seclark]

I heard on the radio that he usually participates in the pool. Just decided not to this time.

fine...so he's lost a bunch just like the other millions. but on this particular lotto drawing, he didn't lose, did he?
(damn, i think i sound like donger)
sec

[Rain Man]

Give the guy some cash... I sure would.

If the guy regularly played, I think I'd throw 50 thou his way as a consolation prize.

[DMAC]

If the guy regularly played, I think I'd throw 50 thou his way as a consolation prize.

Let's not go overboard here...

Buy him lunch or something. :)

[AndChiefs]

If the guy regularly played, I think I'd throw 50 thou his way as a consolation prize.

Yeah in that kind of situation I would think he deserves it.

[Dante84]

I think between the 7 of them could afford to get a million bucks together for the poor guy.

Of course, that is if he was a nice guy, and he had played regularly like the rest of them.

[Dante84]

Also - If I were to ever win the lottery, I sure as shit would keep it as anonymous as possible. Immediate family, closest friends, and financial advisers are the only people in the "know," outside of the lottery officials.

[DMAC]

Also - If I were to ever win the lottery, I sure as shit would keep it as anonymous as possible. Immediate family, closest friends, and financial advisers are the only people in the "know," outside of the lottery officials.

I think they have to make it public.

[Bowser]

319,000,000 divided by 8 = 39,875,000 (before taxes)


Holy hell, that poor bastard.

[Los Pollos Hermanos]

319,000,000 divided by 8 = 39,875,000 (before taxes)


Holy hell, that poor bastard.

They took the cash option. They said it was $16 million each.

[Dante84]

319,000,000 divided by 8 = 39,875,000 (before taxes)


Holy hell, that poor bastard.

To get the guy a million bucks, each person would need to give him $142,857.14, which is 0.3% of each of the 7 individuals' winnings.

Hook the poor bastard up, you greedy fucks.

[Bowser]

They took the cash option. They said it was $16 million each.

Yeah, they better put Mr. Feeling Unlucky on suicide watch.

[Donger]

fine...so he's lost a bunch just like the other millions. but on this particular lotto drawing, he didn't lose, did he?
(damn, i think i sound like donger)
sec

Well, his return on investment is zero. I would say that the others have a much better ROI.

[seclark]

Well, his return on investment is zero. I would say that the others have a much better ROI.

you are not drawing me in to your evil web.
sec

[mikey23545]

I think between the 7 of them could afford to get a million bucks together for the poor guy.

Of course, that is if he was a nice guy, and he had played regularly like the rest of them.

This.

[wazu]

Yeah, they better put Mr. Feeling Unlucky on suicide watch.

No doubt! This story is just brutal. It has practically ruined my day. Wow!

[mikey23545]

They took the cash option. They said it was $16 million each.

That can't be right.

The article said it would come to 202.9 million after taxes if they took the lump sum.

202,900,000/7 = 28,900,000 give or take

[Los Pollos Hermanos]

That can't be right.

The article said it would come to 202 million after taxes if they took the lump sum.

202,000,000/7 = 28,900,000

Maybe the $16 million was after taxes.

Or the guy on the radio didn't know what he was talking about. Very likely.

[Donger]

you are not drawing me in to your evil web.
sec

A web is not required:

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/3kAxD75xRhM" frameborder="0" allowfullscreen></iframe>

[AndChiefs]

Maybe the $16 million was after taxes.

Or the guy on the radio didn't know what he was talking about. Very likely.

The article said it would come to 202 million after taxes if they took the lump sum.

202,000,000/7 = 28,900,000


Maybe... :)

[Jenson71]

He can probably turn this into a book and tv-movie deal.

[The Franchise]

To get the guy a million bucks, each person would need to give him $142,857.14, which is 0.3% of each of the 7 individuals' winnings.

Hook the poor bastard up, you greedy fucks.

This. It'd be pretty cool if they all got together and gave the dude some money. Shit....it doesn't even need to be a million. They could buy him a house or something.

[Phobia]

He can probably turn this into a book and tv-movie deal.

There is no doubt.

Winners: Hey, are you in this week?
Loser: Nah, I just don't feel lucky...
Winners: Okay

Monday;
Loser: Guys... guys... who is gonna make the coffee?

I'd see that.

[Phobia]

I think there are a lot of people on this thread who were brought up playing sports in which everybody tied.

[seclark]

I think there are a lot of people on this thread who were brought up playing sports in which everybody tied.

no shit...screw that dude. he didn't pay, he doesn't play.
can't lose what you never had
don't count your chickens before they're hatched
look for cig butts before drinking out of a beer bottle that aint yours
etc
sec

[ExtremeChief]

I don't know why they would give him anything. He didn't play... saved his dollar or whatever.

[Phobia]

I think they should just split their winnings with everybody who bought a ticket.

[Mr. Flopnuts]

I ALWAYS participate in lottery pools at work. The one time I dont, they'll win. I couldnt deal with that.

I might jump off of a fucking cliff if that happened to me. That's fucking insane. He was feeling as unlucky as he's ever felt. Clearly.

[ModSocks]

If he was a regular participant and well liked, I'd vouch for everyone to give him at least SOMETHING. Even if it were only 50K each.

[Pants]

I think there are a lot of people on this thread who were brought up playing sports in which everybody tied.

Naw, it's just called 'not being a dick'

[SAUTO]

Hey I would just go to them and tell then they owed me.
he was the unlucky one.

If not for him refraining from playing they never would have won.

Me? I would think out of 202 million they should throw him the 2 and make it an even 200 million to split 7 ways.


Plenty
Posted via Mobile Device

[Rain Man]

If not for him refraining from playing they never would have won.

Posted via Mobile Device

Good point. In the time he pulled out the dollar to give them, it would've delayed them 10 seconds and their random numbers would be different.

[SAUTO]

Good point. In the time he pulled out the dollar to give them, it would've delayed them 10 seconds and their random numbers would be different.
Better point from you.


I was just throwing my argument to them out if I was in that position.....
Posted via Mobile Device

[teedubya]

I have a feeling there is gonna be 7 dead millionaires soon with one very mad, unlucky UZI owning loser doing the deed.

[Brock]

If he was a friend, I'd probably give him a little money. Otherwise, fuck 'm.

[ReynardMuldrake]

Me? I would think out of 202 million they should throw him the 2 and make it an even 200 million to split 7 ways.


Plenty
Posted via Mobile Device
So it would come out to $28,571,428.57 a person. Yeah, that's a nice round number.

[Urc Burry]

I would start a thread titled sdf if this happened to me

[redfan]

He can be comforted by the fact that his intuition about not feeling lucky was correct.

:LOL:

Or...if he'd bought in, they wouldn't have won.

[redfan]

Hey I would just go to them and tell then they owed me.
he was the unlucky one.

If not for him refraining from playing they never would have won.

Me? I would think out of 202 million they should throw him the 2 and make it an even 200 million to split 7 ways.


Plenty
Posted via Mobile Device

I'm very slow tonight:banghead:

[Phobia]

Naw, it's just called 'not being a dick'

I give and give and give. But I wouldn't feel obligated whatsoever to this guy.

[alnorth]

I ALWAYS participate in lottery pools at work. The one time I dont, they'll win. I couldnt deal with that.

yep, same here. I know its a waste of money, I know I probably wont win, but I don't want to end up being like THIS guy who lost out while all my co-workers became millionaires because I would not part with a silly little dollar.

[Bwana]

I give and give and give. But I wouldn't feel obligated whatsoever to this guy.

Yep, I have to agree. You didn't buy a ticket? To bad, Ace. See ya, I'm heading to Belize to do a little fishing and buy a boat and a condo, or two.

[alnorth]

Good point. In the time he pulled out the dollar to give them, it would've delayed them 10 seconds and their random numbers would be different.

not necessarily. More likely the guy who bought the numbers was planning to do so approximately 17 minutes and 44 seconds after he got off work. (drive time from the office to the gas station) The time it takes to say "8 on mega millions" isn't really different from saying "7 on mega millions".

I bet they still would have won, unless it was the case that the guy was ready to go out and buy numbers and he was hanging back to ask the guy again and again if he was sure.

[Phobia]

Yep, I have to agree. You didn't buy a ticket? To bad, Ace. See ya, I'm heading to Belize to do a little fishing and buy a boat and a condo, or two.

If the guy had some difficulties I'd bail him out but there's no reason to give him money just because he decided not to play. That's like giving a guy a SuperBowl ring who quit at mid-season.

[Bowser]

If the guy had some difficulties I'd bail him out but there's no reason to give him money just because he decided not to play. That's like giving a guy a SuperBowl ring who quit at mid-season.

Just think of the tax break these guys would have if they gave him half of their winnings.

[alnorth]

Just think of the tax break these guys would have if they gave him half of their winnings.

(nerdy serious answer oblivious to the fact that this was a joke)

well, not really. If you give someone more than (I think) about $13,000 in a single year, then your lifetime estate tax exemption is reduced by the excess gift. You dont have to pay a gift tax unless you give over a million to someone, but if you are worth multi-multi million, then having your estate tax exemption reduced means more tax gets paid after death.

So its a possible tax increase someday, or possibly no tax due at all depending on the situation by giving lots of money to this guy, but under no circumstances do you get a tax cut for giving to someone who isn't a charity.

(/nerdy serious answer oblivious to the fact that this was a joke)

[KcMizzou]

We have one of these office-wide lottery things where I work. I'm one of like 5 or 6 people in the building out of 50+ who don't play. It's kind of a running joke that if they ever win, we'll be the only ones who show up for work the next day.

[Bowser]

(nerdy serious answer oblivious to the fact that this was a joke)

well, not really. If you give someone more than (I think) about $13,000 in a single year, then your lifetime estate tax exemption is reduced by the excess gift. You dont have to pay a gift tax unless you give over a million to someone, but if you are worth multi-multi million, then having your estate tax exemption reduced means more tax gets paid after death.

So its a possible tax increase someday, or possibly no tax due at all depending on the situation by giving lots of money to this guy, but under no circumstances do you get a tax cut for giving to someone who isn't a charity.

(/nerdy serious answer oblivious to the fact that this was a joke)

I don't think I've ever had a lame attempt at humor squashed as effectively as this, ever. Well done.


Hey, wait a second? Are you the guy that writes those Thompkins commercials that play between innings on Royals radio?

[alnorth]

I don't think I've ever had a lame attempt at humor squashed as effectively as this, ever. Well done.

Given that my attempt to "squash" your humor was, itself, also cloaked in humor: I don't know what the hell you are talking about.

I got what you were saying, and I carefully did not crap on your joke, so what the hell? You offend WAY too easily.

[Bowser]

Given that my attempt to "squash" your humor was, itself, also cloaked in humor: I don't know what the hell you are talking about.

I got what you were saying, and I carefully did not crap on your joke, so what the hell? You offend WAY too easily.

I do NOT offend too easily. I am NOT offended right now. I am NOT kicking the dog as we speak.

[KcMizzou]

I do NOT offend too easily. I am NOT offended right now. I am NOT kicking the dog as we speak.You lie. Clearly you're offended by the claim that you were offended.

[Rain Man]

not necessarily. More likely the guy who bought the numbers was planning to do so approximately 17 minutes and 44 seconds after he got off work. (drive time from the office to the gas station) The time it takes to say "8 on mega millions" isn't really different from saying "7 on mega millions".

I bet they still would have won, unless it was the case that the guy was ready to go out and buy numbers and he was hanging back to ask the guy again and again if he was sure.


Or if it takes the counter clerk a microsecond longer to find the 8 than the 7 when he punched in the ticket. (I have no idea who quick picks work or even if they bought them. I just kinda figure the random number generator is either based on the clock or it's pre-generated and fed out in order of purchase or something.)

[Bowser]

You lie. Clearly you're offended by the claim that you were offended.

I'm NOT OFFENDED. NOT OFFENDED! NOTNOTNOTNOTNOT

AAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

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[Jewish Rabbi]

Or if it takes the counter clerk a microsecond longer to find the 8 than the 7 when he punched in the ticket. (I have no idea who quick picks work or even if they bought them. I just kinda figure the random number generator is either based on the clock or it's pre-generated and fed out in order of purchase or something.)

I'd guess the random number generator just spits out random numbers.

[Abba-Dabba]

That can't be right.

The article said it would come to 202.9 million after taxes if they took the lump sum.

202,900,000/7 = 28,900,000 give or take

Hmm. Looks like the article is the one getting it wrong. It basically works like this. The amount that is posted as the value is not the actual amount of money that is paid out by the lottery. Take for instance this lottery. While the value may say that it is 319m, the actual lump payout is 202.9m, before any tax obligations for both payment options.

It will only be 319m if that money is allowed to sit in an annuity and drawn out once per year at scheduled rates. Some early years may be, say a 2.1% annuity payment that works itself up to a 3.7% payment after many years. Then after 30yrs of payments you would have recieved 319m, in theory, before taxes. But the actual investment from the lottery for you into the annuity is only 202.9m. You pay taxes on your yearly payouts. That is the basics of the payment option.

With lump sum payouts the taxes is paid on the lump payout, not the value. Which the payout is 202.9m. After taxes from that are taken the payment is about 112m, roughly 16m each. The lump sum payout is basically the lottery giving you what they would have put into a annuity for the payment option. You still owe taxes on the 202.9m.

There really isn't any more of an advantage with either option, lump sum payout or annuity. It's more about your personal situation in life than anything else. It may not always be wise for a 23yr old to take the lump sum, knowing historically how younger people treat larger sums of money. And it wouldn't be wise for a 60yr old to take he annuity option for obvious reasons

319m is just the sucker to get people to buy the ticket.

[alnorth]

There really isn't any more of an advantage with either option, lump sum payout or annuity. It's more about your personal situation in life than anything else. It may not always be wise for a 23yr old to take the lump sum, knowing historically how younger people treat larger sums of money. And it wouldn't be wise for a 60yr old to take he annuity option for obvious reasons

The only reason why anyone should ever take the annuity is if they are self-aware enough to realize that they are such an irresponsible spendthrift that they wouldn't even be able to walk to their bank or broker to buy their own annuity before the money was spent. (presuming that buying an annuity is a good thing, which it isn't for most people)

I guess if there was some ultra-high tax bracket that kicks in at 2 million or something, that might also be a reason since the lottery can buy the annuity pre-tax, but you'd have to be taxed first to buy your own annuity. Since there isn't such a thing, the tax is the same, and actually if you believe tax rates will climb in the future, then the annuity looks even less attractive.

[Abba-Dabba]

The only reason why anyone should ever take the annuity is if they are self-aware enough to realize that they are such an irresponsible spendthrift that they wouldn't even be able to walk to their bank or broker to buy their own annuity before the money was spent. (presuming that buying an annuity is a good thing, which it isn't for most people)

I guess if there was some ultra-high tax bracket that kicks in at 2 million or something, that might also be a reason since the lottery can buy the annuity pre-tax, but you'd have to be taxed first to buy your own annuity. Since there isn't such a thing, the tax is the same, and actually if you believe tax rates will climb in the future, then the annuity looks even less attractive.

It all comes down to personal situation. Lump sums aren't always the responsible, and safe option for some people.

We could talk about future tax rates for annuity payments. We could also talk about future capital gains taxes with lump sum payouts as well. Taking the lump sum option doesn't stop the tax man from coming and getting his from future earnings from the lottery winnings. The notion that people are taxed once with that lump sum is simply not true.

[Bob Dole]

319m is just the sucker to get people to buy the ticket.

Because, you know, 202.9m isn't NEARLY enough to live on.

[Bowser]

Because, you know, 202.9m isn't NEARLY enough to live on.

LOL, exactly

[Pants]

I give and give and give. But I wouldn't feel obligated whatsoever to this guy.

I wasn't talking about obligations. I was talking in terms of human compassion. Yeah, if I win 28mil and knww that this person who always played with me is probably teetering on the edge of massive clinical depression, I can put myself in his shoes and have no problem giving him $100,000 to ease his pain.

[Rain Man]

It all comes down to personal situation. Lump sums aren't always the responsible, and safe option for some people.

We could talk about future tax rates for annuity payments. We could also talk about future capital gains taxes with lump sum payouts as well. Taking the lump sum option doesn't stop the tax man from coming and getting his from future earnings from the lottery winnings. The notion that people are taxed once with that lump sum is simply not true.


I think for me it's the fact that if I have this money I'd want to diversify it all over the place. I don't know much at all about annuities, but having one party controlling the whole thing would make me nervous.

[Pants]

29 mil... shit, you can put that money in the safest of safest mutual funds and still be in the 97th percentile just living off the interest. I'd probably spend the first 5 mil on a place to live and some sweet cars and safely stash the rest away.

Or you know, buy 24 million worth of gold. :D

[Brock]

I wasn't talking about obligations. I was talking in terms of human compassion. Yeah, if I win 28mil and knww that this person who always played with me is probably teetering on the edge of massive clinical depression, I can put myself in his shoes and have no problem giving him $100,000 to ease his pain.

What if he's an asshole?

[Pants]

What if he's an asshole?

Then he can go fuck himself, I guess. If you're an asshole to other people, don't expect them to be nice to you. Like I stated earlier, I wasn't saying the guys are obligated to pay him anything.

[Rain Man]

29 mil... shit, you can put that money in the safest of safest mutual funds and still be in the 97th percentile just living off the interest. I'd probably spend the first 5 mil on a place to live and some sweet cars and safely stash the rest away.

Or you know, buy 24 million worth of gold. :D


I might consider just living on a cruise ship for the rest of my life. One of those that goes around the world.

[Pasta Little Brioni]

I would hire Bob Saget to tell him "bummer tube dude".

[Rain Man]

What if he's an asshole?

That would make it very fun to wave the money in front of his face.

Nice guy = give him $50,000
Guy I don't like = shrug and tell him that there's a new powerball drawing every week

[Pants]

I might consider just living on a cruise ship for the rest of my life. One of those that goes around the world.

That would be pretty fun, although I would probably still need a place I could call home. Oh, and there would be one condition - the cruise ship can not enter the Red Sea.

[Phobia]

That would be pretty fun, although I would probably still need a place I could call home. Oh, and there would be one condition - the cruise ship can not enter the Red Sea.

What about the coast of Japan? You want to camp there for a couple of days?

[Bowser]

What about the coast of Japan? You want to camp there for a couple of days?

Just on the west side.