Mega Millions sets world record with $1.6 billion lottery jackpot for Tuesday drawing

Oct 20, 2018, 6:57 am (503 comments)

Mega Millions

Jackpot surpasses previous mark held by January 2016 Powerball drawing

It's anybody's guess how high it will get

By Todd Northrop

A Mega Millions jackpot roll that had already made history has now reached a new world record for the biggest lottery jackpot ever.

After lottery officials worked into the early hours of the morning processing the hundreds of millions of lottery tickets sold for the Friday drawing, it was determined that there was no jackpot winner, propelling the new Mega Millions jackpot to a record $1.6 billion.

The big drawing will be held on Tuesday, Oct. 23, with an estimated cash option worth $904.9 million.

At $1.6 billion, Tuesday's Mega Millions drawing slipped past the $1.586 billion Powerball drawing on January 13, 2016, to become the largest lottery jackpot in history. Winners in California, Florida, and Tennessee shared the record Powerball prize.

"Mega Millions has already entered historic territory, but it's truly astounding to think that now the jackpot has reached an all-time world record," said Gordon Medenica, Lead Director of the Mega Millions Group and Director of Maryland Lottery and Gaming. "It's hard to overstate how exciting this is — but now it's really getting fun."

Lottery players wondering what all the cash will look like in their bank account after the initial federal and state tax withholdings can see an after-tax analysis of the current Mega Millions jackpot by visiting USA Mega's Jackpot Analysis page.

The previous record Mega Millions jackpot was $656 million, which was shared by winners in Kansas, Illinois, and Maryland in the drawing on March 30, 2012.

The last Mega Millions jackpot hit was in the drawing held July 24, 2018, when a group of 11 co-workers in California shared a $543 million prize. There have been 25 drawings without a jackpot winner since then, but there have been more than 34.4 million winning tickets sold across the game's nine prize levels.

The winning numbers for the October 19 drawing were: 15, 23, 53, 65, and 70, with Mega Ball number 7. The Megaplier was 2.

The rush of ticket sales over the next few days likely will propel the jackpot to an even higher amount before the drawing takes place Friday. Lottery Post and USA Mega will update the jackpot tallies displayed if such an increase occurs.

The quickest way to find the winning numbers after the drawing Friday will be by visiting USA Mega (www.usamega.com) at 11:00 pm Eastern Time (8:00 pm Pacific), when the winning numbers will be published live as they are drawn.

Reports of long lines and near pandemonium at lottery retailers were rampant leading up to the Friday drawing.  To help avoid that problem for the Tuesday drawing, lottery players are urged to download the free Lottery Places app (for iPhone, Android, and Windows).  Lottery Places is the only app available that can locate lottery retailers in every state and jurisdiction throughout the United States, and can even locate retailers across state lines.

Michigan lottery players can bypass the store completely and buy their Mega Millions lottery tickets online.  Players outside the USA can use a reputable butler service, which provides scanned copies of the purchased lottery tickets securely held on behalf of the customer.

Whatever you do, don't wait.  Lottery officials stress the importance of not waiting until the last minute to buy lottery tickets for this historic jackpot.

In the Friday Mega Millions drawing, although there was no jackpot winner, 15 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from California, 1 from Florida, 2 from Illinois, 1 from Missouri, 1 from New Hampshire, 1 from New Jersey, 4 from New York, 2 from Texas, and 2 from Virginia.

The California second-prize winner will be awarded a whopping $3,404,526 instead of the fixed $1 million prize awarded in the other states, due to the state's pari-mutuel prize payouts. By law, California awards all lottery prizes on a pari-mutuel basis, meaning the prizes will change each drawing based on the number of tickets sold within California and the number of tickets that won at each prize level in the state. This drawing the pari-mutuel prize calculation meant a much larger prize than normal, as one winner took the entire second-prize pool.

Only one of the second-prize tickets sold in Texas was purchased with the Megaplier option for an extra $1 per play, doubling the prize to $2 million since the Megaplier was 2.  The Megaplier option is not available in California, because the fixed nature of the prize increase offered with the Megaplier is not compatible with California's pari-mutuel payouts.

Also, a total of 289 tickets matched four of the first five numbers plus the Mega Ball to win a $10,000 prize. Of those tickets, 35 were purchased with the Megaplier option, increasing the prize to $20,000, and 44 were sold in California, where the prize awarded this drawing is $10,719.

Following the Friday drawing, the Mega Millions annuity jackpot estimate was raised $600 million from its previous amount of $1 billion. The cash value was raised by $339.3 million from its previous amount of $565.6 million.

Mega Millions is currently offered for sale in 44 states, plus Washington, D.C. and the U.S. Virgin Islands. Drawings are Tuesdays and Fridays at 11:00 pm Eastern Time. Tickets cost $2 each.

The Mega Millions winning numbers are published at USA Mega (www.usamega.com) minutes after the drawing takes place.

Top 25 United States lottery jackpots of all time

Tuesday's Mega Millions jackpot currently stands as the largest lottery jackpot in world history.  Undoubtedly record numbers of lottery tickets will be sold this weekend, possibly sending the jackpot even higher by draw time.

  1. Mega Millions: $1.6 billion, Oct. 23, 2018 - Preliminary estimate, not won yet
  2. Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
  3. Powerball: $758.7 million, Aug. 23, 2017 - Massachusetts
  4. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
  5. Mega Millions: $636 million, Dec. 17, 2013 - California, Georgia
  6. Powerball: $590.5 million, May 18, 2013 - Florida
  7. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
  8. Powerball: $564.1 million, Feb. 11, 2015 - North Carolina, Puerto Rico, Texas
  9. Powerball: $559.7 million, Jan. 6, 2018 - New Hampshire
  10. Mega Millions: $543 million, Jul. 24, 2018 - California
  11. Mega Millions: $536 million, Jul. 8, 2016 - Indiana
  12. Mega Millions: $533 million, Mar. 30, 2018 - New Jersey
  13. Powerball: $487 million, Jul. 30, 2016 - New Hampshire
  14. Powerball: $470 million, Oct. 20, 2018 - Preliminary estimate, not won yet
  15. Powerball: $456.7 million, Mar. 17, 2018 - Pennsylvania
  16. Mega Millions: $451 million, Jan. 5, 2018 - Florida
  17. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
  18. Powerball: $447.8 million, Jun. 10, 2017 - California
  19. Powerball: $435.3 million, Feb. 22, 2017 - Indiana
  20. Powerball: $429.6 million, May 7, 2016 - New Jersey
  21. Powerball: $425.3 million, Feb. 19, 2014 - California
  22. Powerball: $420.9 million, Nov. 26, 2016 - Tennessee
  23. Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
  24. Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
  25. Mega Millions: $393 million, Aug. 11, 2017 - Illinois

For those keeping score, the number of jackpots in the top 25, by lottery game, are:

  • Powerball: 15
  • Mega Millions: 10

Top 25 cash value jackpots

Since many lottery winners collect their winnings in cash, the lump-sum payout is an important measure of what a winning ticket could be worth.

Looking at the cash value, the upcoming Mega Millions jackpot ranks as the 2nd-largest cash value in world history.

  1. Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
  2. Mega Millions: $904.9 million cash, Oct. 23, 2018 ($1.6 billion annuity) - Preliminary estimate, not won yet
  3. Powerball: $480.5 million cash, Aug. 23, 2017 ($758.7 million annuity) - Massachusetts
  4. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  5. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  6. Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
  7. Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
  8. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
  9. Powerball: $352 million cash, Jan. 6, 2018 ($559.7 million annuity) - New Hampshire
  10. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
  11. Powerball: $336.8 million cash, Jul. 30, 2016 ($487 million annuity) - New Hampshire
  12. Mega Millions: $324 million cash, Mar. 30, 2018 ($533 million annuity) - New Jersey
  13. Mega Millions: $320.5 million cash, Jul. 24, 2018 ($543 million annuity) - California
  14. Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
  15. Mega Millions: $281.9 million cash, Jan. 5, 2018 ($451 million annuity) - Florida
  16. Powerball: $279.1 million cash, Jun. 10, 2017 ($447.8 million annuity) - California
  17. Powerball: $273.9 million cash, Mar. 17, 2018 ($456.7 million annuity) - Pennsylvania
  18. Powerball: $268.6 million cash, Oct. 20, 2018 ($430 million annuity) - Preliminary estimate, not won yet
  19. Powerball: $263.5 million cash, Feb. 22, 2017 ($435.3 million annuity) - Indiana
  20. Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
  21. Powerball: $254.7 million cash, Nov. 26, 2016 ($420.9 million annuity) - Tennessee
  22. Mega Millions: $246.5 million cash, Aug. 11, 2017 ($393 million annuity) - Illinois
  23. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
  24. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
  25. Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland

The number of jackpot cash values in the top 25, by lottery game, are:

  • Powerball: 14
  • Mega Millions: 11

Lottery Post Staff

Comments

I*won

What??? 

$1.60
BILLION
Cash Option: $904 million
Now it's on!!!
That's almost a $billion take home. 
Powerball will soar too!
delS

I remember, being a member here at LP since 2005, when it was a big deal when Jackpots crossed the $300 million threshold, and the dream of watching the Jackpots ever reaching $400 million was looked at as dreaming over the top. Just the thought that we are on the brink of a Jackpot potentially reaching $2 BILLION now, is mind blowing. Simply mind blowing.  I'm ALL IN. Let's do this!

Grovel's avatarGrovel

I wonder how much it is going to roll just today.

CDanaT's avatarCDanaT

$904.9 MILLION  CASH ................(minus applicable 37% fed taxes,of course)...................

                  $570,087,000.     Take home

 

                             Thud

EnReval

I believe PB if not won tonight, will shoot up to at least $600mil.

I*won

People will probably be begging, borrowing, and stealing to get their hands on this.

I wonder how the economy will hold up since the holiday season is just around the corner.

maximumfun's avatarmaximumfun

Quote: Originally posted by CDanaT on Oct 20, 2018

$904.9 MILLION  CASH ................(minus applicable 37% fed taxes,of course)...................

                  $570,087,000.     Take home

 

                             Thud

I Agree!  That definitely isn't chump change!

CDanaT's avatarCDanaT

Just think:   1 person/904 Million.....That's almost in the DNA test results range of certain elected officials         astronomical

Artist77's avatarArtist77

Quote: Originally posted by CDanaT on Oct 20, 2018

Just think:   1 person/904 Million.....That's almost in the DNA test results range of certain elected officials         astronomical

Lol. Lol And if you noted, the average American has better "odds" than that number!

Albeone

Quote: Originally posted by EnReval on Oct 20, 2018

I believe PB if not won tonight, will shoot up to at least $600mil.

If it rolls PB will be $620M/$354.3M tomorrow morning.

Albeone

 I was just looking at the jackpot list and realized if PB rolls tonight we could have 2 top five jackpots of all time being drawn next week!

music*'s avatarmusic*

Never say Never.  A single ticket owned by a single person could win this jackpot.

 Then again a record-breaking pool could win it. 

 A record number of tickets could do the job as well.

 MM is an equal opportunity game.

weshar75's avatarweshar75

Mega Millions rolls to a new annuity record but still has to get about $75 million in cash some were to beat powerball from 2016.  I think mega can do it.-weshar75

US Flag

lowellm

Well. That just happened... Next stop: $2,000,000,000, arriving Tuesday night!

jjtheprince14

Is it likely there will be no winners Tuesday?

lowellm

Quote: Originally posted by jjtheprince14 on Oct 20, 2018

Is it likely there will be no winners Tuesday?

No. But, then again, it wasn't very likely last night. There will be 3x the ticket sales for Tuesday, though.

weshar75's avatarweshar75

When some one in the USA wins this jackpot I think their will be happy people too because we can stop spending on this jackpot run.-weshar75

US Flag

lowellm

Quote: Originally posted by CDanaT on Oct 20, 2018

Just think:   1 person/904 Million.....That's almost in the DNA test results range of certain elected officials         astronomical

Bwahaha! (I mean, yes... Yes it is astronomical!) ;)

vbrich

This is just stupid amount of money and it will grow. I will say 2B by next draw. 

I will play my usual 3 lines. 

Let me win so our generations and generations can live without worrying about money.

Rman313's avatarRman313

CoolHello Rolls Royce!!! LOL

reddog's avatarreddog

Now would be the time to do like that guy did, get his organisation in tact from all over the US and buy, buy ,buy !!

reddog's avatarreddog

Quote: Originally posted by reddog on Oct 20, 2018

Now would be the time to do like that guy did, get his organisation in tact from all over the US and buy, buy ,buy !!

This group of people would have to be well trusted. 25 mega balls, 7 people assigned to 3 mega balls per , one person would have 4. They got 4 days to play all the pre-made slips. It's possible.

CDanaT's avatarCDanaT

Quote: Originally posted by Rman313 on Oct 20, 2018

CoolHello Rolls Royce!!! LOL

lowellm

Quote: Originally posted by CDanaT on Oct 20, 2018

https://www.avbuyer.com/aircraft/private-jets/gulfstream/g450/354044

Approve

I prefer the Bombardier Global 7500. More leg room.

Horsegeek40

$1.6 billion? Reassessing my dream farm size. May add steer for freezer beef to creature purchasing. Eek

scarchelli's avatarscarchelli

So 1.77 bil to get 1 bil cash.  I honestly hope like 10 people win this and end up walking away with ~60mil after taxes.  Spread the wealth!

lowellm

Quote: Originally posted by lowellm on Oct 20, 2018

I prefer the Bombardier Global 7500. More leg room.

But then again, Gulfstream is an American made product... So, I'd probably go with them. (Decisions, decisions...)

msharkey2001's avatarmsharkey2001

Quote: Originally posted by vbrich on Oct 20, 2018

This is just stupid amount of money and it will grow. I will say 2B by next draw. 

I will play my usual 3 lines. 

Let me win so our generations and generations can live without worrying about money.

Many many generations for sure. If I ever won that kind of cash I would add to the family by adopting 3 or 4 kids who’s descendents would hopefully work for the betterment of humanity.

mikeintexas's avatarmikeintexas

Quote: Originally posted by Horsegeek40 on Oct 20, 2018

$1.6 billion? Reassessing my dream farm size. May add steer for freezer beef to creature purchasing. Eek

Wagyu

Redd55

MM went from $667 Mil to $1 Bil in 3 days.  So, I'm sure it will go from $1.6 Mil to above $2 Bil in 4 days.  Wink

Tried to buy tickets this a.m. at two places, but the computers are down in dear old Cali.  Mad

wander73's avatarwander73

One or two people didn't believe me.  I told some no one would hit last night.  I predict three winning tickets actually.   Since you have two teams projected world series New England area a winning ticket,  Ca  a winning ticket and I think Florida.  Take a look at the 23'rd for any history.

lowellm

To state the obvious: That's a lot of Doh-Ray-Me! Without hurting the principal (never spending a dime of the $500M+ after tax CV), this thing would throw off more than $1,000,000 per month in dividend income, after taxes, just with boring old safe investments. Meanwhile the principal will grow and grow and grow...

Toronto

Move over Kylie Jenner, I’ll be a billionaire real soon!

Horsegeek40

If I win, I will look into not your typical beef cattle. Wink  redo my list. Again!!!!Big Grin

Horsegeek40

If you win this monster Tuesday night, would you have to make educated guess on lawyer you hire or go with one you already know/have?

Cruzincat

I got up this morning and emailed this to my kids:

 

10/20/2018

 

About the Mega millions Jackpot:

 

Don’t go crazy buying tickets. If you are like most people, you love to dream of winning the big one.  It only takes buying one ticket to allow you to dream about what you would do with that kind of money. So, go ahead and buy one so you can get excited for a couple days. Even if you buy two, and, yes it does double your odds of winning, the chances of you winning are still pretty bad. Unless you pick the same numbers, only one ticket you have is going to win, if you do beat the odds.

 

What if you do win?  First off, take a picture of it and put it away in a safe place.  I assume you will consider sharing the win with relatives and possibly more, including a charity.  If you claim the prize for yourself and then distribute the money, you will be paying the full amount of taxes plus any amount you give to someone else will be taxed as a gift.

 

The official lotteries of some states tell you to sign the back of it immediately.  That is to keep someone from stealing it and cashing it in for themselves.  That may be true, but if you want to maintain anonymity, it may not be a good idea to sign it right away, depending on what state you are in.  I have heard in Maryland, for example that, once you sign the ticket, the name on the ticket cannot remain anonymous.  Plus, you might be giving up the opportunity to distribute the winnings before taxes, allowing each individual you want to share it with to determine how they will deal with the windfall.  So, take the picture of it in case someone does manage to steal it and tries to cash it in, so you can report the theft and have a chance to recover it.

 

Get a lawyer or a CPA to set up a trust with a unique name to put on the back of the slip. Have that representative contact the lottery HQ in the state you are in, on your behalf, to see what is necessary to maintain your anonymity.  Few lawyers or CPAs have been in this situation, so they may have to look into the ways and means of dealing with this issue.

 

$1.6B is a huge amount of money that can help relatives and heirs for many years into the future.  Maybe even forever if handled right.  People can burn through it pretty fast if they are not careful.  Consider your age and what you could do with a portion of the money in your lifespan that remains, as well as the people you would share it with in their life that remains.  With this size of a jackpot, I would first figure out how much to allot to each of my kids on a percentage basis.  Since I am already retired, I won’t need a whole lot for us to live very comfortably for the rest of our lives, so a bigger percentage would go for our kids and grandkids and future generations.  I would take steps to ensure that this large sum would be around for many generations to follow, by giving out lump sums first, so people can exercise their dreams, but the biggest share of the money, I would put into trusts that would continue to grow, while paying out a portion of earnings on a regular basis, so all my descendants would be comfortable for as long as I could possibly live and for many years after that.

 

Anyway, this is some of the stuff I dream about and think about how I would deal with it if I would get so lucky. Just wanted you all to know that you are all in my dreams.

 

(Cruzincat)

vbrich

Yup. 

That's my plan. 

Set up Family Office let them take care of everything at low risk investments 3-5% max. Have them hire couple of family assistants. So if someone in our family wants Michelin 3 star dinner in Paris with a view next Saturday, they make it happen. Wants a Luxurious Caribbean getaway, done.

I am still young enough at 40s and my wife at early 30s, have another child or two. Adapt few more and share wealth, do charitable stuff. 

Ah--- . Stupid amount of money but that would be great life. I look over Family office during the day and have a lot of time off...

lowellm

Quote: Originally posted by Horsegeek40 on Oct 20, 2018

If you win this monster Tuesday night, would you have to make educated guess on lawyer you hire or go with one you already know/have?

I'd go through my trust attorneys, but have them work with Jason Kurland. He's a well known lottery lawyer, has represented several huge winners in the past.

dpoly1's avatardpoly1

Uh Oh!

Dance

JBounds's avatarJBounds

Imagine winning both the Powerball and MM.  If someone were that lucky

TheMeatman2005's avatarTheMeatman2005

Well.....I didn't win either, so no calling out RICH from work for me.

Conversation would go something like this......

Me: Hello boss, I'm calling out RICH.

Boss: What? You're SICK?

Me: No! I'M RICH, not sick! Stinking freakin' RICH!

Party

Horsegeek40

I Agree!

Power8411

Wouldn't it be a wise move to take the annuity? I mean,we are talking about a $700 mill difference here which by itself is astronomical. The first cheque itself would set you up for many years,so why bother about getting the cash option?

JADELottery's avatarJADELottery

$2,000,000,000.00+

by Tuesday

now we can think about playing

thanks for pumping it up for us

dpoly1's avatardpoly1

I didn't stand in line for the last drawing & I won't stand in line for Tuesday's drawing!

I have my tickets!

Good luck to all LP Members!

How high will it go!

If I win I will stand for Truth, Justice & The Curmudgeon Way! US Flag

Dance

benjibanks's avatarbenjibanks

Quote: Originally posted by Power8411 on Oct 20, 2018

Wouldn't it be a wise move to take the annuity? I mean,we are talking about a $700 mill difference here which by itself is astronomical. The first cheque itself would set you up for many years,so why bother about getting the cash option?

There are risks either way.  I would be tempted to go for the annuity but would probably go for the lump sum.

BuyLow's avatarBuyLow

Holy Bazinga Batman, THIS is some life changing amount of money!  As if $1,000,000,000.00 wasn't.  LOL

This sucker might even be $1.8 before the day is over?!?!

benjibanks's avatarbenjibanks

If you took the annuity and then developed residency in Puerto Rico or Saipan, would you still have to pay federal taxes?

Groppo's avatarGroppo

Quote: Originally posted by BuyLow on Oct 20, 2018

Holy Bazinga Batman, THIS is some life changing amount of money!  As if $1,000,000,000.00 wasn't.  LOL

This sucker might even be $1.8 before the day is over?!?!

.

Precisely Robbin

New crime computers for the Batcave . . .

New Batmobiles . . .

Kyle7824's avatarKyle7824

Quote: Originally posted by Power8411 on Oct 20, 2018

Wouldn't it be a wise move to take the annuity? I mean,we are talking about a $700 mill difference here which by itself is astronomical. The first cheque itself would set you up for many years,so why bother about getting the cash option?

I would not want to depend on any one who has to keep up with that amount of money year after year...

Somebody has to keep up with your current address, would you want a check for $20,000,000 or whatever just sitting at the post office? Hell no, stuff gets lost to...(Envelopes) give me the cash now, it’s not worth the hassle...

BuyLow's avatarBuyLow

Quote: Originally posted by Kyle7824 on Oct 20, 2018

I would not want to depend on any one who has to keep up with that amount of money year after year...

Somebody has to keep up with your current address, would you want a check for $20,000,000 or whatever just sitting at the post office? Hell no, stuff gets lost to...(Envelopes) give me the cash now, it’s not worth the hassle...

They can wire the money, but yea...show me the money.  Sadly I do not have enough total faith in our gubbmint to let them dole out the money over many years.  I also believe I can grow it faster.

zephbe's avatarzephbe

Quote: Originally posted by Power8411 on Oct 20, 2018

Wouldn't it be a wise move to take the annuity? I mean,we are talking about a $700 mill difference here which by itself is astronomical. The first cheque itself would set you up for many years,so why bother about getting the cash option?

I agree it would be wise.  But large amounts of money make some people think they are smarter than they really are.

sully16's avatarsully16

Good luck everybody, got a good feeling.  Hyper

lowellm

Just think: The odds of NO ONE winning Tuesday's jackpot will probably be about the same as the odds of SOMEONE winning the $40M jackpot, but sometimes, rarely, but sometimes someone does win that 1st jackpot... So what if?

Groppo's avatarGroppo

Quote: Originally posted by Kyle7824 on Oct 20, 2018

I would not want to depend on any one who has to keep up with that amount of money year after year...

Somebody has to keep up with your current address, would you want a check for $20,000,000 or whatever just sitting at the post office? Hell no, stuff gets lost to...(Envelopes) give me the cash now, it’s not worth the hassle...

.

Kyle, please re-consider that decision.  If something gets lost or mis-sorted at the post office, the check, should be direct-deposited, anyway, to your account. 

But the annuity could be a viable option.  (I'm still thinking like a poor person, which is what I am.).
I could set up donation investment accounts, for things like Wounded Warriors to St. Jude's.

brees2012's avatarbrees2012

The Jackpot Analysis "Cash" State payout net , is that right, this that the true amount ? 

 

I am 100% ready to win the Mega Millions !!! 

Along with my solid plans !!!

jjtheprince14

I think at this point I’d do the annuity.  The idea of getting paid pretty big $ steady every year sounds nice.

music*'s avatarmusic*

Annuity.  Remember inflation and taxes. They could both go up and up for over thirty years.

 I would talk to prospective money managers, CFPs Certified Financial Planners, and other Financial Advisers. 

Original Bey's avatarOriginal Bey

motto76

i knew you no one would hit last night am glad i only played  two tickets... i saw people buying 100.00 and up on tickets last night.. the guy at the seven Eleven was so tired saying the machine was constant printing tickets... it will be 2B BY Tuesday..

benjibanks's avatarbenjibanks

Quote: Originally posted by jjtheprince14 on Oct 20, 2018

I think at this point I’d do the annuity.  The idea of getting paid pretty big $ steady every year sounds nice.

Its like you signed a top-level NBA contract for 30 years.  Westbrook makes 41 mil a year and his contract is for five years.  I would still take the lump sum for many reasons, including estate taxes.

music*'s avatarmusic*

Quote: Originally posted by benjibanks on Oct 20, 2018

Its like you signed a top-level NBA contract for 30 years.  Westbrook makes 41 mil a year and his contract is for five years.  I would still take the lump sum for many reasons, including estate taxes.

I agree with your concern about estate taxes. A good Trust & Estate Attorney could fill you in on all the ways to look at the annuity. 

 You will have plenty of cash to pay for all the advice you need. 

benjibanks's avatarbenjibanks

^ I have been checking out Wealth Management firms, many seem to offer legal advice and trust creation services.

Revolution777's avatarRevolution777

57% of all combinations were covered yesterday!  43% chance it rolled, and that it did!  I think Tuesday's drawing will have 85-90% of all combinations covered! 

music*'s avatarmusic*

Quote: Originally posted by benjibanks on Oct 20, 2018

^ I have been checking out Wealth Management firms, many seem to offer legal advice and trust creation services.

Here in California, it is recommended that you create a Trust instead of a Will. I will create a Living Revocable Trust. A Last Will and Testament has to go through Probate. That is expensive and time-consuming.

 There is a YouTube video titled, Mrs. Trust and Mrs. Will  It compares the two.

 Legal advice may include asset protection services. You could become a target of frivolous lawsuits. 

 Enjoy your billions!

JackOfHearts

Usually only get 1 ticket but I just got 5 for this historic event.  Big Smile

music*'s avatarmusic*

Like the Rapper Biggie says, "Mo money, Mo problems" 

bigbuckswede

15 lines + megaplier check!

travelintrucker's avatartravelintrucker

I'm shocked nobody won last night! I figure this thing will either go to 2 billion, people will cut back on playing, or people will stop playing in protest. I know that some people have won with the current odds, however, some may think you just can't win anymore and stop playing. Some may think the greed is ridiculous. As for myself, I'm cutting back and only playing 1 line for every 300 hundred million until I win. I figure this thing will at least go to 1.8 billion. So, I am only buying six lines unless I can get in a lottery pool.

Teddi's avatarTeddi

Quote: Originally posted by vbrich on Oct 20, 2018

Yup. 

That's my plan. 

Set up Family Office let them take care of everything at low risk investments 3-5% max. Have them hire couple of family assistants. So if someone in our family wants Michelin 3 star dinner in Paris with a view next Saturday, they make it happen. Wants a Luxurious Caribbean getaway, done.

I am still young enough at 40s and my wife at early 30s, have another child or two. Adapt few more and share wealth, do charitable stuff. 

Ah--- . Stupid amount of money but that would be great life. I look over Family office during the day and have a lot of time off...

A SFO for a low to mid level centimillionaire is an unnecessary waste of money. A MFO is a better option for a small family without a large yearly income stream from a secondary source. Because if you put $500,000,000 million under management, you'd have to shell out at least $5 million every year for a SFO. 

There are many boutique firms that do nothing but cater to the whims of the rich 24/7 so that even a MFO would be unnecessary. Have one of them handle things on the personal side of things, then hire a tax lawyer and CFA used to managing high net worth clients to handle things on the financial side, and you're set. Doing it that way wouldn't cost anywhere near $5M/year

dpoly1's avatardpoly1

The store where I purchase my tickets has two lottery terminals and both were being used this morning!

I got my tickets from the secondary terminal and I am hoping for a change of luck!

Big Grin Santa There's still a chance for Christmas in October!

My financial plan is in place and ready to be implemented.

travelintrucker's avatartravelintrucker

You forgot about Powerball.

travelintrucker's avatartravelintrucker

I wouldn't be surprised if someone started a lotto hedge fund.

BuyLow's avatarBuyLow

Interesting artcle:  https://www.nerdwallet.com/blog/investing/dear-powerball-winner-make-no-sudden-moves-until-you-read-this/

BuyLow's avatarBuyLow

Quote: Originally posted by Teddi on Oct 20, 2018

A SFO for a low to mid level centimillionaire is an unnecessary waste of money. A MFO is a better option for a small family without a large yearly income stream from a secondary source. Because if you put $500,000,000 million under management, you'd have to shell out at least $5 million every year for a SFO. 

There are many boutique firms that do nothing but cater to the whims of the rich 24/7 so that even a MFO would be unnecessary. Have one of them handle things on the personal side of things, then hire a tax lawyer and CFA used to managing high net worth clients to handle things on the financial side, and you're set. Doing it that way wouldn't cost anywhere near $5M/year

What is an SFO and MFO?

lowellm

I would hire advisors, especially legal, tax, trust, and insurance. I would never trust someone else to invest my money for me, but I would use advisors to teach me and to bring me up to speed on investment instruments I'm not yet sophisticated enough to use. I'd get umbrella insurance policies to protect me from lawsuits, that sort of thing. It would be an amazing learning experience, that's for sure.

lowellm

Quote: Originally posted by lowellm on Oct 20, 2018

I would hire advisors, especially legal, tax, trust, and insurance. I would never trust someone else to invest my money for me, but I would use advisors to teach me and to bring me up to speed on investment instruments I'm not yet sophisticated enough to use. I'd get umbrella insurance policies to protect me from lawsuits, that sort of thing. It would be an amazing learning experience, that's for sure.

Oh, and one other thing I would do right away is get an "Executive Physical", to make sure I'm healthy and to stay ahead of any potential health problems. I think these usually run around $10,000, but it would be worth it if you have the means.

Teddi's avatarTeddi

Quote: Originally posted by Power8411 on Oct 20, 2018

Wouldn't it be a wise move to take the annuity? I mean,we are talking about a $700 mill difference here which by itself is astronomical. The first cheque itself would set you up for many years,so why bother about getting the cash option?

Because we understand the risks that will come from inflation, taxes and retroactive changes in federal law, all of which have negatively impacted annuity winners in the past. And since the best predictor of future events is past events, add to that the fact that the annuity is backweighted, and I'll be saying no thank you to an annuity. Besides, when invested properly, the lump sum amount will almost always outpace the annuity, so no one is leaving anything on the table and you have the benefit more autonomy and control of the funds. As far as I can tell, the only reason to choose the annuity is because one is too afraid to receive that much money at one time, which I see as absurd.

lowellm

Quote: Originally posted by Teddi on Oct 20, 2018

Because we understand the risks that will come from inflation, taxes and retroactive changes in federal law, all of which have negatively impacted annuity winners in the past. And since the best predictor of future events is past events, add to that the fact that the annuity is backweighted, and I'll be saying no thank you to an annuity. Besides, when invested properly, the lump sum amount will almost always outpace the annuity, so no one is leaving anything on the table and you have the benefit more autonomy and control of the funds. As far as I can tell, the only reason to choose the annuity is because one is too afraid to receive that much money at one time, which I see as absurd.

I agree 100% ... (And I need to figure out how to make that emoticon holding the "I agree" sign, lol)

Rman313's avatarRman313

Quote: Originally posted by CDanaT on Oct 20, 2018

https://www.avbuyer.com/aircraft/private-jets/gulfstream/g450/354044

Approve

CoolLiving a life of wealth for sure. Flying private jet everywhere.

One-Day

I DON'T think it's high enough for me to justify spending $2.  Let me know when it hits 2.4, ok? LOL.

music*'s avatarmusic*

Quote: Originally posted by BuyLow on Oct 20, 2018

Interesting artcle:  https://www.nerdwallet.com/blog/investing/dear-powerball-winner-make-no-sudden-moves-until-you-read-this/

I Agree! Well worth the time and effort to type in the www. address. A good first step when pondering a billion dollar jackpot.

Mariokart21

I hope there is only one winning Mega Millions ticket that wins the largest jackpot in United States history! The Mega Millions jackpot is now up to at least $1.6 Billion dollars or $904.9 million dollars if one ticket wins the jackpot and chooses the cash value option or the one time payment lump sum making Hurricane Hung a category 5 storm with sustained winds of 160 miles per hour with gusts of 190 miles per hour everyone especially you DALVIN PAYNE Bringa Timewalkerv wander73 Bodia77 and Marcie for Tuesday October 23rd!

One-Day

"https://www.nerdwallet.com/blog/investing/dear-powerball-winner-make-no-sudden-moves-until-you-read-this/"

 

And that's why ladies and gentlemen the annuity is always the right choice.  The lump sum is too stressful to manage.  You could lose it all to crooked lawyers, investors, money managers or die of stress trying to deal with all that, regretting ever buying that dam ticket.  Who said that before????  Truth is that if you have never managed/invested this amount of money successfully for your yourself or for others, you should have no business choosing the lump sum.  Yeah, it is easy now that you are broke to say I'll hire this guy and I'll hire two more, I'll do this and I'll do that.  You are a newbie multi-millionaire now and the pros know that.  You stand a big chance to be conned or be a victim of a really bad investment advice/decision. You'll have bullets and wolves coming at you from EVERYWHERE;  the latter wearing suit and tie.  You also stand a big chance to lose it all due to your own bad decisions (yeah, people change when their pockets are full), stress, this and that, which comes with the lump sum.

Inflation and other costs that might come up in the future is the price you have to pay to be rich and sleep tight at night.  First payment is over $18,000,000.  That's more than enough to do your thing and then some.  Your heirs can claim the rest if you die as it is part of your estate.  Whether you are 18 or 109, you should choose the annuity, unless you are a big shot money guy who can handle his own.  Thank you.

Redd55

Here is an example of what they call a boutique financial management firm.  It's the one used by several members of the Jobs family.

https://wealth.bmoharris.com/

lowellm

Quote: Originally posted by BuyLow on Oct 20, 2018

Interesting artcle:  https://www.nerdwallet.com/blog/investing/dear-powerball-winner-make-no-sudden-moves-until-you-read-this/

Normally I skip the "What NOT To Do If You Win Tonight's Lottery Jackpot" articles (they always give the same inane advice), but that was both funny and informative! Thanks for that!

Charlieo132

Quote: Originally posted by Revolution777 on Oct 20, 2018

57% of all combinations were covered yesterday!  43% chance it rolled, and that it did!  I think Tuesday's drawing will have 85-90% of all combinations covered! 

Where did you find this information?  Been trying to figure out the search terms to get this data.

Redd55

Quote: Originally posted by BuyLow on Oct 20, 2018

What is an SFO and MFO?

Single Family Office vs Multi Family Office.   They are wealth management firms. Single, dedicated to you alone vs Multi which handles and protects the finances of several families.

https://en.wikipedia.org/wiki/Multi-family_office

KY Floyd's avatarKY Floyd

"2. Mega Millions: $904.9 million cash, Oct. 23, 2018
($1.6 billion annuity) - Preliminary estimate, not won yet"

When did 2nd place become a world record? Is that anything like a participation trophy just for showing up?

lowellm

Quote: Originally posted by KY Floyd on Oct 20, 2018

"2. Mega Millions: $904.9 million cash, Oct. 23, 2018
($1.6 billion annuity) - Preliminary estimate, not won yet"

When did 2nd place become a world record? Is that anything like a participation trophy just for showing up?

I hear what you're saying, the annuity is (estimated to be) a world record. I guess one might say, "it is a world record jackpot estimate." lol... It needs to hit roughly $1.75B before the CV catches the world record.

Revolution777's avatarRevolution777

CHARLIEO123:   google "Megamillions Jackpot" and click on the Washington Post article.  It says 57% of combinations were covered yesterday. 

gy65

Quote: Originally posted by Revolution777 on Oct 20, 2018

CHARLIEO123:   google "Megamillions Jackpot" and click on the Washington Post article.  It says 57% of combinations were covered yesterday. 

Article link.

Charlieo132

Quote: Originally posted by gy65 on Oct 20, 2018

Article link.

Thanks for the help now I know how to find this information.

tg2017

It is fun to think about the absurdity of being able to spend $247,000 a week for 50 years, but this is when the "How much is too much?" increase of the odds becomes apparent. If there is no winner at the $1 billion maximum ticket buying frenzy level, if 43% of combinations were not covered even at $1 billion, that says to me that the combinations covered probably won't go above 75% even if the jackpot is $2 billion. The winning number could go unplayed for months and hit $10 billion dollars. That could be the unintended consequence of designing the odds to get to a $1 billion jackpot. 

Teddi's avatarTeddi

Quote: Originally posted by BuyLow on Oct 20, 2018

What is an SFO and MFO?

SFO =  Single Family Office

MFO =  Multi Family Office

Both manage the money and investments of ultra high networth families, but the bill for all the services in a SFO is footed one family whereas with a MFO, the expenses are shared between different uber-wealthy families. 

The old rule used to be that if you needed to have the SFO manage at least $100 million in investable assets for the SFO to be cost effective but that's been shown to be incorrect because secondary income sources and # of family members is also a factor. 

What happened was that when it came to generational wealth and/or wealth intricately tied to a business, the family office blurred lines with the home office. These new SFOs don't only handle the investment side of the family's money, but the personal side as well. 

Anything that could be a liability to the family is usually managed by the family office. Anything that is needed to retain or increase the value of the family's assets is usually managed and budgeted by the SFO. As you can imagine, that basically covers everything. 

They vet contractors, run background checks on dates, coordinate travel arrangements, manage the family's charitable foundations, make sure the security detail is adequate. They make sure the private jet is serviced, the vehicles are registered, that all personal property is recorded and insured and that the pets have all their shots. If the pilots are required to have physicals and recert training, the SFO makes sure it's done.

 

Non-contracted hires who work in the homes of the family members are usually interviewed, vetted, hired and paid by the family office. They are not the employees of the family member. They are employees of the family office. Even though they're working directly for the family member(s). This helps to reduce personal liability issues. 

The SFO will also generally take care of most/all the family's expenses. From dry cleaning to the utility bill to the credit card bill, the SFO budgets and pays for it all.

 

The cost of a SFO is usually a percentage of the total wealth being managed. Which is why if the family isn't large enough, wealthy enough and busy enough to fully utilize the services of the SFOs, then it's simply a waste of money. 

Stack47

Quote: Originally posted by Charlieo132 on Oct 20, 2018

Thanks for the help now I know how to find this information.

The article never said how they got the 53%. With 280 million tickets sold that couldn't be what they used for calculations. Just guessing but maybe 2 of the 15 five number matches were duplicates and that's what they used.

Most of the lottery websites give a 1 in 24 chance of a MM ticket winning anything, but that's playing fast and loose with the term "winning". Last night 8,279,174 tickets matched only the bonus number getting back the $2 ticket price. Would it be more accurate to say "there is a 1 in 24 chance your ticket won't lose money"?

Hiding Behind Computer

zephbe's avatarzephbe

Quote: Originally posted by Teddi on Oct 20, 2018

SFO =  Single Family Office

MFO =  Multi Family Office

Both manage the money and investments of ultra high networth families, but the bill for all the services in a SFO is footed one family whereas with a MFO, the expenses are shared between different uber-wealthy families. 

The old rule used to be that if you needed to have the SFO manage at least $100 million in investable assets for the SFO to be cost effective but that's been shown to be incorrect because secondary income sources and # of family members is also a factor. 

What happened was that when it came to generational wealth and/or wealth intricately tied to a business, the family office blurred lines with the home office. These new SFOs don't only handle the investment side of the family's money, but the personal side as well. 

Anything that could be a liability to the family is usually managed by the family office. Anything that is needed to retain or increase the value of the family's assets is usually managed and budgeted by the SFO. As you can imagine, that basically covers everything. 

They vet contractors, run background checks on dates, coordinate travel arrangements, manage the family's charitable foundations, make sure the security detail is adequate. They make sure the private jet is serviced, the vehicles are registered, that all personal property is recorded and insured and that the pets have all their shots. If the pilots are required to have physicals and recert training, the SFO makes sure it's done.

 

Non-contracted hires who work in the homes of the family members are usually interviewed, vetted, hired and paid by the family office. They are not the employees of the family member. They are employees of the family office. Even though they're working directly for the family member(s). This helps to reduce personal liability issues. 

The SFO will also generally take care of most/all the family's expenses. From dry cleaning to the utility bill to the credit card bill, the SFO budgets and pays for it all.

 

The cost of a SFO is usually a percentage of the total wealth being managed. Which is why if the family isn't large enough, wealthy enough and busy enough to fully utilize the services of the SFOs, then it's simply a waste of money. 

Thank you for clarifying.  This is great information.

lowellm

Quote: Originally posted by tg2017 on Oct 20, 2018

It is fun to think about the absurdity of being able to spend $247,000 a week for 50 years, but this is when the "How much is too much?" increase of the odds becomes apparent. If there is no winner at the $1 billion maximum ticket buying frenzy level, if 43% of combinations were not covered even at $1 billion, that says to me that the combinations covered probably won't go above 75% even if the jackpot is $2 billion. The winning number could go unplayed for months and hit $10 billion dollars. That could be the unintended consequence of designing the odds to get to a $1 billion jackpot. 

What is "absurd" is how easy it would be to spend $247,001 a week, if you fall into a certain type of lifestyle. Billionaire level security, estate maintenance, staff, etc... Even though you can technically afford to purchase a $70M jet with cash, it still costs upwards of $5M per year to operate it, plus the not inconsequential cost of av-gas, which can cost tens of thousands per flight. It doesn't matter if you earn $247 per week, or $247,000 per week, you still need to keep tight reigns on your budget or you'll find yourself in a different kind of "jackpot".

But, to your point, I've been sort of curious about that myself. At what point would ticket sales slow down if nobody wins this jackpot? What if it rolls after Tuesday night? Say it rolls to $2.5B? Will lottery fatigue kick in simply because the jackpot seems unreal and unobtainable?

Revolution777's avatarRevolution777

If you win, I suggest NetJets or WheelsUp for transportation!  Live the Life Amigo!

zephbe's avatarzephbe

Quote: Originally posted by lowellm on Oct 20, 2018

What is "absurd" is how easy it would be to spend $247,001 a week, if you fall into a certain type of lifestyle. Billionaire level security, estate maintenance, staff, etc... Even though you can technically afford to purchase a $70M jet with cash, it still costs upwards of $5M per year to operate it, plus the not inconsequential cost of av-gas, which can cost tens of thousands per flight. It doesn't matter if you earn $247 per week, or $247,000 per week, you still need to keep tight reigns on your budget or you'll find yourself in a different kind of "jackpot".

But, to your point, I've been sort of curious about that myself. At what point would ticket sales slow down if nobody wins this jackpot? What if it rolls after Tuesday night? Say it rolls to $2.5B? Will lottery fatigue kick in simply because the jackpot seems unreal and unobtainable?

I thought last night that there were no winners when it took so long to announce the winners. And they were trying to think of a way to spin it. How long are people going to buy tickets for a jackpot that can't be won?  They may get a ticket or two but not big ticket buys.  It's just a waste of money to play a game no one can win.

lowellm

Quote: Originally posted by zephbe on Oct 20, 2018

I thought last night that there were no winners when it took so long to announce the winners. And they were trying to think of a way to spin it. How long are people going to buy tickets for a jackpot that can't be won?  They may get a ticket or two but not big ticket buys.  It's just a waste of money to play a game no one can win.

Yes! Especially after they just spent too much on tickets that didn't even come close... It proves the futility of buying more than one ticket at a time, regardless of the size of the jackpot.

LOTTOPLAYER13

According to <snip> :

Total Tickets (Sets of Numbers) Sold: 280,217,678
Total Combinations in Game: 302,575,350 = 92.8%

Someone said 59% sold. That means multiple same numbers were sold.

 

In a side note, I have a question to all lottery players here:

What is the first thing you will do after collecting the prize?

me:

Donate 10% pre-tax to charities...

you?

This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

lowellm

Quote: Originally posted by LOTTOPLAYER13 on Oct 20, 2018

According to <snip> :

Total Tickets (Sets of Numbers) Sold: 280,217,678
Total Combinations in Game: 302,575,350 = 92.8%

Someone said 59% sold. That means multiple same numbers were sold.

 

In a side note, I have a question to all lottery players here:

What is the first thing you will do after collecting the prize?

me:

Donate 10% pre-tax to charities...

you?

This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

I'd disappear for a year.

LottoMetro's avatarLottoMetro

Estimates for 10/23 drawing:

  • ≈450MM tickets sold
  • ≈216MM duplicate tickets
  • ≈52% chance of one winner
  • ≈22.6% chance of rollover

The formula for estimating the number of duplicate tickets sold is as follows:

(total tickets sold)-((total combinations)*(coverage))

coverage = 1-((e(-lambda)*(lambda0))/0!)
lambda = (total tickets sold)/(total combinations)

Sidenote: using this formula (which assumes all random picks), and the actual sales for 10/19, the number of unique combinations estimated to be sold was actually ≈10MM more than the actual 57% quoted by The Washington Post. I believe fewer unique combinations were sold due to self-picks, so if we take this to apply to the new drawing as well then the chance of rollover should be slightly higher than estimated.

Teddi's avatarTeddi

Quote: Originally posted by One-Day on Oct 20, 2018

"https://www.nerdwallet.com/blog/investing/dear-powerball-winner-make-no-sudden-moves-until-you-read-this/"

 

And that's why ladies and gentlemen the annuity is always the right choice.  The lump sum is too stressful to manage.  You could lose it all to crooked lawyers, investors, money managers or die of stress trying to deal with all that, regretting ever buying that dam ticket.  Who said that before????  Truth is that if you have never managed/invested this amount of money successfully for your yourself or for others, you should have no business choosing the lump sum.  Yeah, it is easy now that you are broke to say I'll hire this guy and I'll hire two more, I'll do this and I'll do that.  You are a newbie multi-millionaire now and the pros know that.  You stand a big chance to be conned or be a victim of a really bad investment advice/decision. You'll have bullets and wolves coming at you from EVERYWHERE;  the latter wearing suit and tie.  You also stand a big chance to lose it all due to your own bad decisions (yeah, people change when their pockets are full), stress, this and that, which comes with the lump sum.

Inflation and other costs that might come up in the future is the price you have to pay to be rich and sleep tight at night.  First payment is over $18,000,000.  That's more than enough to do your thing and then some.  Your heirs can claim the rest if you die as it is part of your estate.  Whether you are 18 or 109, you should choose the annuity, unless you are a big shot money guy who can handle his own.  Thank you.

This article made no claim that it's the better choice. That's your own personal belief. If you don't think you can manage that much money successfully, then you don't have to take the lump sum should you win. Better yet, do not play when the jackpot gets this high.

I have news for you, crooked lawyers and fund managers have bankrupted winners who took the annuity. Bad life choice and bad investments have bankrupted winners who took the annuity. Annuity winners are not less likely to spend it all.

Not so long ago there were people making this comment about $100 million jackpots. Then $300 million jackpots. Whenever any new threshold of JP is broken, out come people like you to tell others they HAVE to take the annuity so they don't go broke because they'll never be able to manage the lump sum amount.

Do you know what usually happens? They manage the lump sum amount. They get comprehensive financial advice, they read books, they consult lawyers, and...they manage that money. So how about tempering the fearmongering with actual evidence.

dpoly1's avatardpoly1

Quote: Originally posted by LOTTOPLAYER13 on Oct 20, 2018

According to <snip> :

Total Tickets (Sets of Numbers) Sold: 280,217,678
Total Combinations in Game: 302,575,350 = 92.8%

Someone said 59% sold. That means multiple same numbers were sold.

 

In a side note, I have a question to all lottery players here:

What is the first thing you will do after collecting the prize?

me:

Donate 10% pre-tax to charities...

you?

This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

It's a secret!

Dance

lowellm

Quote: Originally posted by Teddi on Oct 20, 2018

This article made no claim that it's the better choice. That's your own personal belief. If you don't think you can manage that much money successfully, then you don't have to take the lump sum should you win. Better yet, do not play when the jackpot gets this high.

I have news for you, crooked lawyers and fund managers have bankrupted winners who took the annuity. Bad life choice and bad investments have bankrupted winners who took the annuity. Annuity winners are not less likely to spend it all.

Not so long ago there were people making this comment about $100 million jackpots. Then $300 million jackpots. Whenever any new threshold of JP is broken, out come people like you to tell others they HAVE to take the annuity so they don't go broke because they'll never be able to manage the lump sum amount.

Do you know what usually happens? They manage the lump sum amount. They get comprehensive financial advice, they read books, they consult lawyers, and...they manage that money. So how about tempering the fearmongering with actual evidence.

Again, total agreement, Teddi. I keep a monthly budget, spend less than I make, give, save, make my own investment choices, retain a lawyer and a tax accountant, etc... All of this for a person of modest means, like myself. For someone who has never balanced a checkbook it would seem too overwhelming, I suppose, but it's all a part of being a responsible adult and small business owner. It tickles my brain to think of scaling it up from managing thousands to managing mega-millions. I'm not afraid nor am I intimidated, and although I do not know everything and I've never managed millions, I know the right questions to ask, and/or the right people who can guide me to the right question.

Teddi's avatarTeddi

Quote: Originally posted by lowellm on Oct 20, 2018

What is "absurd" is how easy it would be to spend $247,001 a week, if you fall into a certain type of lifestyle. Billionaire level security, estate maintenance, staff, etc... Even though you can technically afford to purchase a $70M jet with cash, it still costs upwards of $5M per year to operate it, plus the not inconsequential cost of av-gas, which can cost tens of thousands per flight. It doesn't matter if you earn $247 per week, or $247,000 per week, you still need to keep tight reigns on your budget or you'll find yourself in a different kind of "jackpot".

But, to your point, I've been sort of curious about that myself. At what point would ticket sales slow down if nobody wins this jackpot? What if it rolls after Tuesday night? Say it rolls to $2.5B? Will lottery fatigue kick in simply because the jackpot seems unreal and unobtainable?

I wouldn't think so. Even if Americans spent all of their discretionary income buying tickets for the previous JPs and they're tapped out making large ticket purchases, the game is open to non-Americans. For $2.5 billion I'm betting we'll see large numbers of people driving into the US for a few hours just to buy tickets. Their purchases would likely pick up the ticket sales where regulars dropped off.

I also think people in states that don't have MUSL will be willing to drive into states which do to buy tickets.

These two types of lottery players who only ever make an effort to buy tickets when it's high enough to justify the inconvenience of a long road trip.

weshar75's avatarweshar75

I know that not everyone can win the jackpot but I would be happy with the cool million.-weshar75

US Flag

benir4u's avatarbenir4u

Quote: Originally posted by weshar75 on Oct 20, 2018

I know that not everyone can win the jackpot but I would be happy with the cool million.-weshar75

US Flag

here here I Agree!

BuyLow's avatarBuyLow

Quote: Originally posted by Teddi on Oct 20, 2018

SFO =  Single Family Office

MFO =  Multi Family Office

Both manage the money and investments of ultra high networth families, but the bill for all the services in a SFO is footed one family whereas with a MFO, the expenses are shared between different uber-wealthy families. 

The old rule used to be that if you needed to have the SFO manage at least $100 million in investable assets for the SFO to be cost effective but that's been shown to be incorrect because secondary income sources and # of family members is also a factor. 

What happened was that when it came to generational wealth and/or wealth intricately tied to a business, the family office blurred lines with the home office. These new SFOs don't only handle the investment side of the family's money, but the personal side as well. 

Anything that could be a liability to the family is usually managed by the family office. Anything that is needed to retain or increase the value of the family's assets is usually managed and budgeted by the SFO. As you can imagine, that basically covers everything. 

They vet contractors, run background checks on dates, coordinate travel arrangements, manage the family's charitable foundations, make sure the security detail is adequate. They make sure the private jet is serviced, the vehicles are registered, that all personal property is recorded and insured and that the pets have all their shots. If the pilots are required to have physicals and recert training, the SFO makes sure it's done.

 

Non-contracted hires who work in the homes of the family members are usually interviewed, vetted, hired and paid by the family office. They are not the employees of the family member. They are employees of the family office. Even though they're working directly for the family member(s). This helps to reduce personal liability issues. 

The SFO will also generally take care of most/all the family's expenses. From dry cleaning to the utility bill to the credit card bill, the SFO budgets and pays for it all.

 

The cost of a SFO is usually a percentage of the total wealth being managed. Which is why if the family isn't large enough, wealthy enough and busy enough to fully utilize the services of the SFOs, then it's simply a waste of money. 

Good info thanks!

lowellm

Quote: Originally posted by Teddi on Oct 20, 2018

I wouldn't think so. Even if Americans spent all of their discretionary income buying tickets for the previous JPs and they're tapped out making large ticket purchases, the game is open to non-Americans. For $2.5 billion I'm betting we'll see large numbers of people driving into the US for a few hours just to buy tickets. Their purchases would likely pick up the ticket sales where regulars dropped off.

I also think people in states that don't have MUSL will be willing to drive into states which do to buy tickets.

These two types of lottery players who only ever make an effort to buy tickets when it's high enough to justify the inconvenience of a long road trip.

I Agree! Hey, check me out! I found the emoticon dude! ;)

Yeah, good point... Also, at some point it might be mathematically feasible to throw $604M at it to make a couple hundred million profit, lol. Imagine if the JP was over $3B, but the projected ticket sales slumped down to a point where the likelihood of a winner were an acceptable risk for some "fund" to buy up all of the combinations. Even if there was one other winner, the "fund" would walk away with $243M pre-tax, lol. ($3B x .565= $1.695B(CV) x .5(2 way split)= $847.5M - $604M(cost of tickets)= $243.5M pre-tax profit. lol, just a thought.

CDanaT's avatarCDanaT

Provided I/you/someone win this monster of a (MM)jackpot, to me this is where the real life changing mission begins. Scheduling and choosing a representative team. Do I look at the Super Lawyers list under lotteries to see who they suggest in my state?  Do I interview 2-3  firms? How about choosing a professional accounting firm to assist you ? Again,interview 2-3 of them ?  Financial Advisers team ? A whole bunch of those folks to sort through. Get the trust established and decide who's going to be in it.

How much are you giving to charities or will you establish your own ? What are the challenges of getting that charity going ? How much do I give to family, friends or folks that I know are in need ?

Will I live here in the area or even in my state ? Do I want a new home or shop for one that's already built ? If I build a new one, who will build it for me and how long will that take? (For those of us that have built new homes, you know all the headaches of that undertaking)

For us who have a significant other, what are their desires on all the above subjects? While spouses usually agree on life situations, this kind of wealth can open up ones mind with all kinds of possibilities/changes

 

Just my 2 pennies on the subject....

Soledad

Spend spend and then look at Chuck Feeney.

music*'s avatarmusic*

Quote: Originally posted by CDanaT on Oct 20, 2018

Provided I/you/someone win this monster of a (MM)jackpot, to me this is where the real life changing mission begins. Scheduling and choosing a representative team. Do I look at the Super Lawyers list under lotteries to see who they suggest in my state?  Do I interview 2-3  firms? How about choosing a professional accounting firm to assist you ? Again,interview 2-3 of them ?  Financial Advisers team ? A whole bunch of those folks to sort through. Get the trust established and decide who's going to be in it.

How much are you giving to charities or will you establish your own ? What are the challenges of getting that charity going ? How much do I give to family, friends or folks that I know are in need ?

Will I live here in the area or even in my state ? Do I want a new home or shop for one that's already built ? If I build a new one, who will build it for me and how long will that take? (For those of us that have built new homes, you know all the headaches of that undertaking)

For us who have a significant other, what are their desires on all the above subjects? While spouses usually agree on life situations, this kind of wealth can open up ones mind with all kinds of possibilities/changes

 

Just my 2 pennies on the subject....

CDanaT,  I will make my CFP, Certified Financial Planner the leader of all my advisers. He or She will ask the tough questions that I need answers too. Party

lowellm

Quote: Originally posted by CDanaT on Oct 20, 2018

Provided I/you/someone win this monster of a (MM)jackpot, to me this is where the real life changing mission begins. Scheduling and choosing a representative team. Do I look at the Super Lawyers list under lotteries to see who they suggest in my state?  Do I interview 2-3  firms? How about choosing a professional accounting firm to assist you ? Again,interview 2-3 of them ?  Financial Advisers team ? A whole bunch of those folks to sort through. Get the trust established and decide who's going to be in it.

How much are you giving to charities or will you establish your own ? What are the challenges of getting that charity going ? How much do I give to family, friends or folks that I know are in need ?

Will I live here in the area or even in my state ? Do I want a new home or shop for one that's already built ? If I build a new one, who will build it for me and how long will that take? (For those of us that have built new homes, you know all the headaches of that undertaking)

For us who have a significant other, what are their desires on all the above subjects? While spouses usually agree on life situations, this kind of wealth can open up ones mind with all kinds of possibilities/changes

 

Just my 2 pennies on the subject....

The "charity" thing has been weighing on my mind. At this level I think I'd separate 10% of the after tax CV and start some sort of foundation. I'd invest the money for the foundation, and also contribute 10% of my after tax income into it every year. The dividends earned from the investments I'd distribute to a variety of causes. But, here's the rub: I don't want to be like Andrew Carnegie and struggle to find worthy causes to give to, so I'd need to hire some good, like-minded folks to do the due diligence for me... Just a thought... Oh, and when I die, the bulk of my net worth would be added to the foundation.

Coin Toss's avatarCoin Toss

Can't resist

music*'s avatarmusic*

Quote: Originally posted by lowellm on Oct 20, 2018

The "charity" thing has been weighing on my mind. At this level I think I'd separate 10% of the after tax CV and start some sort of foundation. I'd invest the money for the foundation, and also contribute 10% of my after tax income into it every year. The dividends earned from the investments I'd distribute to a variety of causes. But, here's the rub: I don't want to be like Andrew Carnegie and struggle to find worthy causes to give to, so I'd need to hire some good, like-minded folks to do the due diligence for me... Just a thought... Oh, and when I die, the bulk of my net worth would be added to the foundation.

lowellm,  Have you heard of, "Donor Advised Funds"? It might be an option instead of a Foundation. Cool

Revolution777's avatarRevolution777

Who thinks tonight's Powerball will get hit or will it continue to roll like MM?

 

$620M if it rolls...................

Coin Toss's avatarCoin Toss

Somebody justify needing the sums this jackpot would provide, either way,annuity or cash.

I hope the record jackpot brings a record split.

lowellm

Quote: Originally posted by music* on Oct 20, 2018

lowellm,  Have you heard of, "Donor Advised Funds"? It might be an option instead of a Foundation. Cool

I haven't heard of that, but I'll look into it. :) When I say "foundation", I'm using it as a catch-all, I don't mean it in any specific or litigious sense (In other words, I didn't know what else to call it, lol!) Thanks, music*!

lowellm

Quote: Originally posted by Coin Toss on Oct 20, 2018

Somebody justify needing the sums this jackpot would provide, either way,annuity or cash.

I hope the record jackpot brings a record split.

I don't know... Credit card debt? ;)

Groppo's avatarGroppo

Quote: Originally posted by Coin Toss on Oct 20, 2018

Somebody justify needing the sums this jackpot would provide, either way,annuity or cash.

I hope the record jackpot brings a record split.

.

I agree.   And hope for the same. Would 100 first prize winners be asking too much?

music*'s avatarmusic*

Quote: Originally posted by lowellm on Oct 20, 2018

I don't know... Credit card debt? ;)

Green laughgood one lowellm.

lowellm

Quote: Originally posted by Coin Toss on Oct 20, 2018

Somebody justify needing the sums this jackpot would provide, either way,annuity or cash.

I hope the record jackpot brings a record split.

And, one other thing. Although this technically falls under the "luxury" category, rather than the "need" category, but it sure would be fun to flaunt it in front of the ex-wife! lol (I'm just kidding. but not really.)

jjtheprince14

Quote: Originally posted by Groppo on Oct 20, 2018

.

I agree.   And hope for the same. Would 100 first prize winners be asking too much?

There will be a shocking number of winners if birthday numbers are drawn.  50+ winners for the JP and 1,000+ winners for the 5+0 tier I’d bet.

Teddi's avatarTeddi

Quote: Originally posted by lowellm on Oct 20, 2018

Again, total agreement, Teddi. I keep a monthly budget, spend less than I make, give, save, make my own investment choices, retain a lawyer and a tax accountant, etc... All of this for a person of modest means, like myself. For someone who has never balanced a checkbook it would seem too overwhelming, I suppose, but it's all a part of being a responsible adult and small business owner. It tickles my brain to think of scaling it up from managing thousands to managing mega-millions. I'm not afraid nor am I intimidated, and although I do not know everything and I've never managed millions, I know the right questions to ask, and/or the right people who can guide me to the right question.

A person's attitude towards money determines their level of success with it. I used to see it all the time. A guy who couldn't budget to live on $50,000/year ended up with a job where he's making $150,000/year, and he still can't budget it. He ends up still spending more than he brings in. It's never about the money,

it's about the mindset.

For these people, no matter what payment method you put them on or how much the sum is, they'll find a way to squander it all. It's not that hard to pick out those who will end up broke. We knew it was going to happen with Leroy Fick. We knew it was going to happen with Cynthia Stafford. Ditto with DLE.

And it's not just lottery winners that have a tell. When Sheree Whitfield said "A budget. What's that? I don't shop on a budget." and when Toni Braxton blasted Oprah for telling her to never spend money until she knows how much she actually has, I knew they'd both be broke in no time flat. I had a good laugh when Toni filed for her second bankruptcy and Sheree got booted out her house.

Bleudog101

Ohio tickets purchased.  Broke my cardinal rule and did not do Powerplay or Megaplier.   Not a bad day went to two casinos with $300 and came home with $450 which included the $40 for lotto tickets.

The only real concern is with the MA Season Ticket.  Wonder if it can be claimed through a trust?  That would be all anyone would need to have their name plastered all over the place.  Best of my knowledge and one case comes to mind that they wait for the photo-op on Season ticket winners then release the information.

Groppo's avatarGroppo

Quote: Originally posted by music* on Oct 20, 2018

CDanaT,  I will make my CFP, Certified Financial Planner the leader of all my advisers. He or She will ask the tough questions that I need answers too. Party

.

Music*,

You seem well versed in the area of financial planning and/or such things.
Because of you, I now know what to do, if the unthinkable happens, tonight, Tuesday or on any lotto date.

This Certified Financial Planner is a yet another term, I've not known about.

What kind of tough questions could be expected?

Mr. Groppo

Teddi's avatarTeddi

Quote: Originally posted by Revolution777 on Oct 20, 2018

Who thinks tonight's Powerball will get hit or will it continue to roll like MM?

 

$620M if it rolls...................

No idea, but I hope it rolls, just to make things interesting and to freak people out.

Original Bey's avatarOriginal Bey

Quote: Originally posted by Teddi on Oct 20, 2018

A person's attitude towards money determines their level of success with it. I used to see it all the time. A guy who couldn't budget to live on $50,000/year ended up with a job where he's making $150,000/year, and he still can't budget it. He ends up still spending more than he brings in. It's never about the money,

it's about the mindset.

For these people, no matter what payment method you put them on or how much the sum is, they'll find a way to squander it all. It's not that hard to pick out those who will end up broke. We knew it was going to happen with Leroy Fick. We knew it was going to happen with Cynthia Stafford. Ditto with DLE.

And it's not just lottery winners that have a tell. When Sheree Whitfield said "A budget. What's that? I don't shop on a budget." and when Toni Braxton blasted Oprah for telling her to never spend money until she knows how much she actually has, I knew they'd both be broke in no time flat. I had a good laugh when Toni filed for her second bankruptcy and Sheree got booted out her house.

You nailed it. There are stories of past lottery winners who sold out their annuities because they blew through the annual payments before the first quarter and knew more money was there for the spending. Even people with expert consultants put them on blast when the financial team's advise runs contrary to their whims.

zephbe's avatarzephbe

Quote: Originally posted by Teddi on Oct 20, 2018

No idea, but I hope it rolls, just to make things interesting and to freak people out.

LOL

music*'s avatarmusic*

Quote: Originally posted by Groppo on Oct 20, 2018

.

Music*,

You seem well versed in the area of financial planning and/or such things.
Because of you, I now know what to do, if the unthinkable happens, tonight, Tuesday or on any lotto date.

This Certified Financial Planner is a yet another term, I've not known about.

What kind of tough questions could be expected?

Mr. Groppo

Groppo,  Thank You for your compliments. I am not a Certified Financial Planner. 

 A tough question that my CFP will ask is like, How are you paid? What experience do you have?   I am sure that my CFP will have many other questions when I am hiring say, a CPA or an investment firm.

 A qualified CFP will have both academic credentials as well as on the job experience.

 Try googling Certified Financial Planners.  I own and have read Susan Bradley's book titled, "Sudden Money". 

 An excellent adviser will be worth the money you spend on him or her.

Groppo's avatarGroppo

Quote: Originally posted by Revolution777 on Oct 20, 2018

Who thinks tonight's Powerball will get hit or will it continue to roll like MM?

 

$620M if it rolls...................

.

Yes, it may as well roll, because of what we've experienced with the MM this time around,

. . . everybody is losing their brains on the constant rolls and everything.

"Peepoles needs ta just ca'm down and purtind like dey a gonna lose, not win, but lose."

OldSchoolPa's avatarOldSchoolPa

Time to disappoint everyone and go buy this winning ticket.

 

I am satisfied with current jackpot. Time to reset the jackpot with my ticket. Thank you universe.

lowellm

Quote: Originally posted by Teddi on Oct 20, 2018

A person's attitude towards money determines their level of success with it. I used to see it all the time. A guy who couldn't budget to live on $50,000/year ended up with a job where he's making $150,000/year, and he still can't budget it. He ends up still spending more than he brings in. It's never about the money,

it's about the mindset.

For these people, no matter what payment method you put them on or how much the sum is, they'll find a way to squander it all. It's not that hard to pick out those who will end up broke. We knew it was going to happen with Leroy Fick. We knew it was going to happen with Cynthia Stafford. Ditto with DLE.

And it's not just lottery winners that have a tell. When Sheree Whitfield said "A budget. What's that? I don't shop on a budget." and when Toni Braxton blasted Oprah for telling her to never spend money until she knows how much she actually has, I knew they'd both be broke in no time flat. I had a good laugh when Toni filed for her second bankruptcy and Sheree got booted out her house.

Absolutely! I've heard it described as a "thermostat" (it might have been Jim Rohn who said it). Everybody has a financial "thermostat". If it's set at $50k per year, and it's August and you're only on track to earn $40k, you'll bust your buns to get that income back on track for $50k. But once you're back on track you relax and settle into your $50k lifestyle... The thing is, a person can reset their thermostat. Could be lower, could be much higher. If you earn a million per year, that thermostat will kick the heater on if you're on track to only make $900k... Likewise, if you win a million, but you still have poor person thoughts, you'll become poor again in 2 shakes of a lamb's tail.

CDanaT's avatarCDanaT

Quote: Originally posted by OldSchoolPa on Oct 20, 2018

Time to disappoint everyone and go buy this winning ticket.

 

I am satisfied with current jackpot. Time to reset the jackpot with my ticket. Thank you universe.

Green laugh  I hear ya OSPa

music*'s avatarmusic*

Quote: Originally posted by OldSchoolPa on Oct 20, 2018

Time to disappoint everyone and go buy this winning ticket.

 

I am satisfied with current jackpot. Time to reset the jackpot with my ticket. Thank you universe.

OldSchoolPa, You are welcome!

Universe

BuyLow's avatarBuyLow

Quote: Originally posted by music* on Oct 20, 2018

Groppo,  Thank You for your compliments. I am not a Certified Financial Planner. 

 A tough question that my CFP will ask is like, How are you paid? What experience do you have?   I am sure that my CFP will have many other questions when I am hiring say, a CPA or an investment firm.

 A qualified CFP will have both academic credentials as well as on the job experience.

 Try googling Certified Financial Planners.  I own and have read Susan Bradley's book titled, "Sudden Money". 

 An excellent adviser will be worth the money you spend on him or her.

Susan also has an advisory firm!

CDanaT's avatarCDanaT

Quote: Originally posted by lowellm on Oct 20, 2018

Absolutely! I've heard it described as a "thermostat" (it might have been Jim Rohn who said it). Everybody has a financial "thermostat". If it's set at $50k per year, and it's August and you're only on track to earn $40k, you'll bust your buns to get that income back on track for $50k. But once you're back on track you relax and settle into your $50k lifestyle... The thing is, a person can reset their thermostat. Could be lower, could be much higher. If you earn a million per year, that thermostat will kick the heater on if you're on track to only make $900k... Likewise, if you win a million, but you still have poor person thoughts, you'll become poor again in 2 shakes of a lamb's tail.

lm, with a jackpot the size of either the PB or MM. If some individual can't take just $50M for a nest egg(never to be touched), $10M for house, cars & toys, $1M a year to spend as they please(based on living to the age of 90).... Then they just suck as a human being !!!

music*'s avatarmusic*

Quote: Originally posted by BuyLow on Oct 20, 2018

Susan also has an advisory firm!

I enjoyed the chapter titled, "Finding your windfall: The Chute of Emotions." 

Revolution777's avatarRevolution777

The more money you have, the BIGGER the toys!

CDanaT's avatarCDanaT

Quote: Originally posted by BuyLow on Oct 20, 2018

Susan also has an advisory firm!

https://www.suddenmoney.com/about-susan-bradley

 

She does sound as it would be worth a phone call or video-chat  Thumbs Up

lowellm

Quote: Originally posted by CDanaT on Oct 20, 2018

lm, with a jackpot the size of either the PB or MM. If some individual can't take just $50M for a nest egg(never to be touched), $10M for house, cars & toys, $1M a year to spend as they please(based on living to the age of 90).... Then they just suck as a human being !!!

I'd throw in another $10M for a nice cozy bunker, preps, ammo, and a respectable arsenal ;)

music*'s avatarmusic*

Quote: Originally posted by CDanaT on Oct 20, 2018

lm, with a jackpot the size of either the PB or MM. If some individual can't take just $50M for a nest egg(never to be touched), $10M for house, cars & toys, $1M a year to spend as they please(based on living to the age of 90).... Then they just suck as a human being !!!

Sharon Tirabassi from Canada is an example of losing it all. I guess she was bad at math. 

 She won $10,000,000.00 Canadian dollars and lost it all over ten years. She did set up trust funds for her kids. 

CDanaT's avatarCDanaT

Quote: Originally posted by lowellm on Oct 20, 2018

I'd throw in another $10M for a nice cozy bunker, preps, ammo, and a respectable arsenal ;)

Aaaamen  Thumbs Up

CDanaT's avatarCDanaT

Quote: Originally posted by music* on Oct 20, 2018

Sharon Tirabassi from Canada is an example of losing it all. I guess she was bad at math. 

 She won $10,000,000.00 Canadian dollars and lost it all over ten years. She did set up trust funds for her kids. 

Green laugh Canada, that spoke volumes right there

Groppo's avatarGroppo

Quote: Originally posted by OldSchoolPa on Oct 20, 2018

Time to disappoint everyone and go buy this winning ticket.

 

I am satisfied with current jackpot. Time to reset the jackpot with my ticket. Thank you universe.

.

Has anyone actually sat down and tried to figure out why the numbers are so elusive,
that has left the big prize still at bay (or maybe adrift somewhere in the Pacific) ?

I mean the whole world has to be in on this game. 
I could sit here and say "OK, TUESDAY IS IT, somebody better win it.", but will it be won?

DO WE WANT TO FIND OUT THAT SOME ICELANDIC FISHERMAN HAS WON IT?
PLEASE FOLKS, DO YOUR BEST TO KEEP THE WINNERS IN THE USA. 

I'm too old to take this excitement  much longer.
I'm not even excited anymore, I'm starting to get annoyed.

lowellm

Quote: Originally posted by CDanaT on Oct 20, 2018

Aaaamen  Thumbs Up

With all of this hullabaloo, it hadn't even occurred to me to pick up a PB ticket for tonight. It's scary/sad when a $470M jackpot seems so insignificant that you lose track of it, like a set of car keys.

CDanaT's avatarCDanaT

Quote: Originally posted by lowellm on Oct 20, 2018

With all of this hullabaloo, it hadn't even occurred to me to pick up a PB ticket for tonight. It's scary/sad when a $470M jackpot seems so insignificant that you lose track of it, like a set of car keys.

Poke............. You ARE in IL... Your state does have some unique things happen....No No  Don't be tempting fate

lowellm

Quote: Originally posted by CDanaT on Oct 20, 2018

Poke............. You ARE in IL... Your state does have some unique things happen....No No  Don't be tempting fate

Haha! You're right! When you're right, you're right! What else can I say? I tell ya another thing, my state sure could use the tax revenue from my impending big win, but I don't trust them to spend it wisely once they get it. It would be one thing if they had an ounce of common sense, heck, I'd be happy to help. Some folks just can't be helped. I'm talking about Chicago, of course, not my beloved down state folks. ;)

BuyLow's avatarBuyLow

Quote: Originally posted by Groppo on Oct 20, 2018

.

Has anyone actually sat down and tried to figure out why the numbers are so elusive,
that has left the big prize still at bay (or maybe adrift somewhere in the Pacific) ?

I mean the whole world has to be in on this game. 
I could sit here and say "OK, TUESDAY IS IT, somebody better win it.", but will it be won?

DO WE WANT TO FIND OUT THAT SOME ICELANDIC FISHERMAN HAS WON IT?
PLEASE FOLKS, DO YOUR BEST TO KEEP THE WINNERS IN THE USA. 

I'm too old to take this excitement  much longer.
I'm not even excited anymore, I'm starting to get annoyed.

I’m just annoyed it’s not up to 1.85 Billion yet.  LOL

CDanaT's avatarCDanaT

Quote: Originally posted by BuyLow on Oct 20, 2018

I’m just annoyed it’s not up to 1.85 Billion yet.  LOL

Now JJ...................just kidding.........  2 weeks perhaps ?

Power8411

Quote: Originally posted by Teddi on Oct 20, 2018

Because we understand the risks that will come from inflation, taxes and retroactive changes in federal law, all of which have negatively impacted annuity winners in the past. And since the best predictor of future events is past events, add to that the fact that the annuity is backweighted, and I'll be saying no thank you to an annuity. Besides, when invested properly, the lump sum amount will almost always outpace the annuity, so no one is leaving anything on the table and you have the benefit more autonomy and control of the funds. As far as I can tell, the only reason to choose the annuity is because one is too afraid to receive that much money at one time, which I see as absurd.

Thanks. Makes it clear for anyone who considers it or not.

lowellm

Quote: Originally posted by CDanaT on Oct 20, 2018

Poke............. You ARE in IL... Your state does have some unique things happen....No No  Don't be tempting fate

A neighbor-friend of mine just snapchatted me, said she was going to the store and do I need anything... I said yes, since you mention it, pick me up a PB w/powerplay option... Fortune smiles upon me yet again! ;)

Power8411

Quote: Originally posted by Revolution777 on Oct 20, 2018

The more money you have, the BIGGER the toys!

I wish. Maybe an operation? :)

MsBee18

Quote: Originally posted by lowellm on Oct 20, 2018

A neighbor-friend of mine just snapchatted me, said she was going to the store and do I need anything... I said yes, since you mention it, pick me up a PB w/powerplay option... Fortune smiles upon me yet again! ;)

You know you play a lot when your friends know what PB w/power play option is lol.

lowellm

Quote: Originally posted by MsBee18 on Oct 20, 2018

You know you play a lot when your friends know what PB w/power play option is lol.

Lol, true! But, full disclosure, I had to explain the powerplay thing to her (on snapchat), and then I texted the explanation to her (because snapchat "forgets", lol). But she just now dropped it off. Mission Accomplished! She (not a lottery player) actually bought two tickets, one for me and one for her!

Teddi's avatarTeddi

Quote: Originally posted by Original Bey on Oct 20, 2018

You nailed it. There are stories of past lottery winners who sold out their annuities because they blew through the annual payments before the first quarter and knew more money was there for the spending. Even people with expert consultants put them on blast when the financial team's advise runs contrary to their whims.

Yup, exactly. Which is why I'm always so surprised when people keep insisting that a person should take the annuity if they don't know how to budget. If they don't know how to budget, they won't miraculously learn how when come into a large sum of money even if the money comes once a year. They either sell off future payments or borrow against it to cover their overspending.

Original Bey's avatarOriginal Bey

Someone win the Powerball already. It's a distraction. 

 

Thank you for your cooperation.

BuyLow's avatarBuyLow

Quote: Originally posted by Original Bey on Oct 20, 2018

Someone win the Powerball already. It's a distraction. 

 

Thank you for your cooperation.

No problem.  I volunteer to take the PB Jackpot tonight.  Wink

lowellm

Quote: Originally posted by BuyLow on Oct 20, 2018

No problem.  I volunteer to take the PB Jackpot tonight.  Wink

It's incredible to think that you'd be able to win it and ride off into the sunset while everyone else is worried about the "big" Mega Millions jackpot winner.

LOTTOPLAYER13

I Love STATS.. So if we based the sales to be at 80% coverage, then there is  a 20% chance of a roll? or 1 in 5?

dpoly1's avatardpoly1

Quote: Originally posted by Coin Toss on Oct 20, 2018

Somebody justify needing the sums this jackpot would provide, either way,annuity or cash.

I hope the record jackpot brings a record split.

ONE TICKET!

ONE WINNER!

lowellm

Quote: Originally posted by LOTTOPLAYER13 on Oct 20, 2018

I Love STATS.. So if we based the sales to be at 80% coverage, then there is  a 20% chance of a roll? or 1 in 5?

Yep, that would be true (or close enough, there are variables). If there are enough tickets sold that 80% of all numbers are likely chosen, then statistically there is a 1 in 5 chance of a roll. But those odds aren't favorable for a roll.

brees2012's avatarbrees2012

You ever noticed , when you read article or headlines and it never 

has anything Positive !!! How to lose your money between 3 - 7 years .

Why can't there be an article saying .....How to make your money last forever !!! 

Media loves to be so darn negative , instead of being Positive !! 

You've to have a  solid plan , to  make it last . Do's and Don't ! 

dpoly1's avatardpoly1

Quote: Originally posted by Coin Toss on Oct 20, 2018

Somebody justify needing the sums this jackpot would provide, either way,annuity or cash.

I hope the record jackpot brings a record split.

Andrew Carnegie sold his company BEFORE Income Tax was law.

Carnegie died on August 11, 1919, in Lenox, Massachusetts at his Shadow Brook estate, of bronchial pneumonia. He had already given away $350,695,653 (approximately $76.9 billion, adjusted to 2015 share of GDP figures) of his wealth.

His Foundation STILL helps people to this day!

That's how Capitalism WORKS!

Bash

Revolution777's avatarRevolution777

Based on sales projections, 75 percent of the 302 possible combinations will be chosen for Tuesday's drawing, up from 59.1% in Friday's drawing, said Carole Gentry, spokeswoman for Maryland Lottery & Gaming.   About 280 million tickets sold in Friday's drawing, none matching.

noise-gate

Quote: Originally posted by Revolution777 on Oct 20, 2018

Who thinks tonight's Powerball will get hit or will it continue to roll like MM?

 

$620M if it rolls...................

l would love to be a jackpot crasher and bring PB down.. tonight! The journey would end there.

lowellm

Quote: Originally posted by Revolution777 on Oct 20, 2018

Based on sales projections, 75 percent of the 302 possible combinations will be chosen for Tuesday's drawing, up from 59.1% in Friday's drawing, said Carole Gentry, spokeswoman for Maryland Lottery & Gaming.   About 280 million tickets sold in Friday's drawing, none matching.

All I know is, somebody is going to have a very merry Christmas this year.

noise-gate

Quote: Originally posted by lowellm on Oct 20, 2018

All I know is, somebody is going to have a very merry Christmas this year.

On foreign soil...

BuyLow's avatarBuyLow

Quote: Originally posted by noise-gate on Oct 20, 2018

On foreign soil...

Why do you say that?

lowellm

Quote: Originally posted by noise-gate on Oct 20, 2018

On foreign soil...

Yeah, they'd be smart to go somewhere (nowhere) for a year or so, let things blow over.

Kingofearth's avatarKingofearth

Quote: Originally posted by noise-gate on Oct 20, 2018

On foreign soil...

I Agree!

Todd's avatarTodd

Quote: Originally posted by brees2012 on Oct 20, 2018

You ever noticed , when you read article or headlines and it never 

has anything Positive !!! How to lose your money between 3 - 7 years .

Why can't there be an article saying .....How to make your money last forever !!! 

Media loves to be so darn negative , instead of being Positive !! 

You've to have a  solid plan , to  make it last . Do's and Don't ! 

Here's a positive article published yesterday that should make you happy: https://www.lotterypost.com/news/323150

lowellm

Guarantee nobody "picked" those Powerball numbers tonight, they're pretty ugly. Maybe a quick pick.

Tucker Black's avatarTucker Black

I wonder if the people who dropped hundreds of dollars on the last draw have any money left to do it again.

lowellm

Quote: Originally posted by Tucker Black on Oct 20, 2018

I wonder if the people who dropped hundreds of dollars on the last draw have any money left to do it again.

Oh, they'll find it somewhere. Pawn shops will be a booming business enterprise this month, lol

Revolution777's avatarRevolution777

Plus, the "cash burn rate" is much higher with 2 jackpots at high levels.  At some point, there will be a realization that "I am a dumbass".  lol

Coin Toss's avatarCoin Toss

Quote: Originally posted by dpoly1 on Oct 20, 2018

ONE TICKET!

ONE WINNER!

That has a vaguely familiar ring to it......

oh, wait

Ein Volk!

Ein Reich!

<insert Horst Wessel lied here>

Scared

Coin Toss's avatarCoin Toss

Quote: Originally posted by dpoly1 on Oct 20, 2018

Andrew Carnegie sold his company BEFORE Income Tax was law.

Carnegie died on August 11, 1919, in Lenox, Massachusetts at his Shadow Brook estate, of bronchial pneumonia. He had already given away $350,695,653 (approximately $76.9 billion, adjusted to 2015 share of GDP figures) of his wealth.

His Foundation STILL helps people to this day!

That's how Capitalism WORKS!

Bash

dpoly1

Carnegie was one of the men profiled on The Men Who Built America......

No jackpot winners were. 

Bash

Revolution777's avatarRevolution777

QUESTION:  Whose idea was it to start national and state lotteries in the 1980's anyway?  Anybody know?

Revolution777's avatarRevolution777

Delaware Lottery is reporting the Powerball rolled to $620M !!

CDanaT's avatarCDanaT

Powerball site just posted the rollover to $620.3 Million/ $354.3 Million Cash

lowellm

Quote: Originally posted by CDanaT on Oct 21, 2018

Powerball site just posted the rollover to $620.3 Million/ $354.3 Million Cash

Ho-Hum... Just $620.3M? Yawn... ;)

Revolution777's avatarRevolution777

Holy Guacamole!  Powerball will be $1 BILLION with one more rollover for next Saturday.  Kind of like Groundhog Day movie!

CDanaT's avatarCDanaT

Quote: Originally posted by lowellm on Oct 21, 2018

Ho-Hum... Just $620.3M? Yawn... ;)

Lol.... 620.3 is barely above the after tax take home for the MM

lowellm

Quote: Originally posted by CDanaT on Oct 21, 2018

Lol.... 620.3 is barely above the after tax take home for the MM

These are crazy times! Signs & wonders!

CDanaT's avatarCDanaT

Quote: Originally posted by Revolution777 on Oct 21, 2018

Holy Guacamole!  Powerball will be $1 BILLION with one more rollover for next Saturday.  Kind of like Groundhog Day movie!

These high numbers drawn for both jackpots is obnoxious... spread it out so I can feel equally irritated

Kyle7824's avatarKyle7824

Quote: Originally posted by lowellm on Oct 20, 2018

Guarantee nobody "picked" those Powerball numbers tonight, they're pretty ugly. Maybe a quick pick.

I picked 3 of the 6

just not in the right spots...

i pick my own...

CDanaT's avatarCDanaT

Quote: Originally posted by Kyle7824 on Oct 21, 2018

I picked 3 of the 6

just not in the right spots...

i pick my own...

Right there with you kyle.. I had all 5 numbers between 7 lines.  Chair

lowellm

Quote: Originally posted by Kyle7824 on Oct 21, 2018

I picked 3 of the 6

just not in the right spots...

i pick my own...

Yep, that was always the problem I had when I calculated my own sets of numbers. I'd get most of the numbers, I just couldn't get them to line up straight.

CDanaT's avatarCDanaT

Well,time to call it a night.... Us saints have to get up early to help the rest of you sinners tomorrow to repent from your heathen thoughts and certain finger waives from not winning either jackpot this weekend.

lowellm

Quote: Originally posted by CDanaT on Oct 21, 2018

Well,time to call it a night.... Us saints have to get up early to help the rest of you sinners tomorrow to repent from your heathen thoughts and certain finger waives from not winning either jackpot this weekend.

Haha! Put in a good word for me!

Coin Toss's avatarCoin Toss

Quote: Originally posted by Revolution777 on Oct 21, 2018

QUESTION:  Whose idea was it to start national and state lotteries in the 1980's anyway?  Anybody know?

State lottery, New Hampshire 1964, this round anyway.

Interesting read;

https://en.wikipedia.org/wiki/Lotteries_in_the_United_States

 

U.S. lotteries

A map of the United States with the states with lotteries highlighted
Map showing U.S. lottery jurisdictions (in blue) - States highlighted offer Mega Millions  and  Powerball as of May 15, 2013; the District of Columbia and the U.S. Virgin Islands each also offer both games

?

State or Territory Lottery Year of
First
Ticket Sales
Other
Joint
Games
Alabama No
Alaska No
Arizona Yes 1981 0
Arkansas Yes 2009 LFL
California Yes 1985 0
Colorado Yes 1983 LFL
Connecticut Yes 1972 LFL
Delaware Yes 1974 LA, LFL
District of Columbia Yes 1982 LFL
Florida Yes 1988 C4L
Georgia Yes 1992 C4L
Hawaii No
Idaho Yes 1989 LA, LFL
Illinois Yes 1974 0
Indiana Yes 1989 LFL
Iowa Yes 1985 AoN, LA, LFL
Kansas Yes 1987 2by2, LA, LFL
Kentucky Yes 1989 LFL
Louisiana Yes 1991 0
Maine Yes 1974 LA, LFL, TSM
Maryland Yes 1973 C4L
Massachusetts Yes 1971 LFL
Michigan Yes 1972 LFL
Minnesota Yes 1988 AoN, LA, LFL
Mississippi Yes[15]
Missouri Yes 1986 LFL
Montana Yes 1986 LA, LFL
Nebraska Yes 1993 2by2, LFL
Nevada No
New Hampshire Yes 1964 LFL, TSM
New Jersey Yes 1969 C4L
New Mexico Yes 1996 LA
New York Yes 1967 C4L
North Carolina Yes 2005 LFL
North Dakota Yes 2004 2by2, LA, LFL
Ohio Yes 1974 LFL
Oklahoma Yes 2005 LA, LFL
Oregon Yes 1985 0
Pennsylvania Yes 1972 C4L
Puerto Rico Yes 1934 0
Rhode Island Yes 1974 LFL
South Carolina Yes 2002 LFL
South Dakota Yes 1987 LA, LFL
Tennessee Yes 2004 C4L, LA
Texas Yes 1992
Utah No
U.S. Virgin Islands Yes 1937 0
Vermont Yes 1978 LFL, TSM
Virginia Yes 1988 C4L
Washington Yes 1982 0
West Virginia Yes 1984 LA
Wisconsin Yes 1988 0
Wyoming Yes 2013 LFL
Perfecttiming2's avatarPerfecttiming2

MM+PB= Over $2.2 Billion.

Should be a very interesting week.

bigbuckswede

I dreamed this morning MM would raise to $3.5 billion until the draw.

keepitreal

It may be more then 1.6 Billion close to drawing time. If no one hit jackpot. It will be billion dollar after taxes. I hear I maybe wrong.

EnReval

Itz funny how PB increased over $100 mil

Kingofearth's avatarKingofearth

Quote: Originally posted by Perfecttiming2 on Oct 21, 2018

MM+PB= Over $2.2 Billion.

Should be a very interesting week.

https://www.lotterypost.com/thread/304162

Life imitates art. It won't be long before this fictional story becomes reality.

CDanaT's avatarCDanaT

It would be a wonderful time to win a state lottery or Lotto America jackpot(*if available in your area), leaving all the attention to the MM/PB jackpots. Quietly collect and ride off with limited attention....Course, with these jackpots getting this big, even the PB will garnish excessive attention. Be cautious, be silent and be smart should you win.

Horsegeek40

Dang, I don't recall if TN has a way to collect winnings anonymously. Dana do you know off top of your head?

BuyLow's avatarBuyLow

Quote: Originally posted by Horsegeek40 on Oct 21, 2018

Dang, I don't recall if TN has a way to collect winnings anonymously. Dana do you know off top of your head?

The Dragon lady would never permit anonymity, lol.  Please groom the goats prior to the photo shoot. Banana

dpoly1's avatardpoly1

Quote: Originally posted by Coin Toss on Oct 21, 2018

That has a vaguely familiar ring to it......

oh, wait

Ein Volk!

Ein Reich!

<insert Horst Wessel lied here>

Scared

Agree with stupid

And you sound like a Stalinist

Bleudog101

Quote: Originally posted by Horsegeek40 on Oct 21, 2018

Dang, I don't recall if TN has a way to collect winnings anonymously. Dana do you know off top of your head?

Can't you do a blind trust in Tennessee??

CDanaT's avatarCDanaT

Quote: Originally posted by Horsegeek40 on Oct 21, 2018

Dang, I don't recall if TN has a way to collect winnings anonymously. Dana do you know off top of your head?

HG.... I am afraid not...We can collect via trust. Unfortunately the Dragon Lady and the other cast of characters have not pushed for anonymity or allowed that opportunity to arise.    Blue Thinking

CDanaT's avatarCDanaT

Quote: Originally posted by Bleudog101 on Oct 21, 2018

Can't you do a blind trust in Tennessee??

Not sure about a Blind Trust. However the option of dressing like this comes to mind when meeting ole Rebecca

Horsegeek40

I could do like the Preds coach did last night after they won last night. Bull mask!!!

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by CDanaT on Oct 21, 2018

Right there with you kyle.. I had all 5 numbers between 7 lines.  Chair

I had come closer than that CD!

Back in 2014, I bought a $5 quick-pick up in Connecticut on Dec 29, 2014 for the $177 Mil jackpot Mega Millions drawing the following day.

The winning numbers drawn were 3-7-44-63-67 MB 12 

When I checked my ticket on Dec 31, I had ALL 6 NUMBERS on the one ticket....just not all on the same line.

I did, however get 4 on one line for $500 and the Megaball number for $1

So close, yet still so far!

 

Cash2000

Good morning everyone

Coin Toss's avatarCoin Toss

dpoly1,

PS,

What does Carnegie have anything to do with you justifying a need for the kind of money?

Lurking

Rigged50

How did you know what the Powerball was going to if it wasn't won?

Bleudog101

Really enjoying the comments from the newest members to Lottery Post.  Quite refreshing.

Poor Todd, NJ had a million $ MM & PB...now he needs to win NJ 6 tomorrow night with all his hard, devoted work.

Kingofearth's avatarKingofearth

Quote: Originally posted by Rigged50 on Oct 21, 2018

How did you know what the Powerball was going to if it wasn't won?

https://www.txlottery.org/export/sites/lottery/Games/Powerball/Estimated_Jackpot.html

Charlieo132

Caved in and picked up a couple MegaMillions tickets.  Was probably crazy driving 30 miles out of the way to buy them in South Carolina, if it hits at least I’ll be able to stay anonymous.

CDanaT's avatarCDanaT

Quote: Originally posted by TheMeatman2005 on Oct 21, 2018

I had come closer than that CD!

Back in 2014, I bought a $5 quick-pick up in Connecticut on Dec 29, 2014 for the $177 Mil jackpot Mega Millions drawing the following day.

The winning numbers drawn were 3-7-44-63-67 MB 12 

When I checked my ticket on Dec 31, I had ALL 6 NUMBERS on the one ticket....just not all on the same line.

I did, however get 4 on one line for $500 and the Megaball number for $1

So close, yet still so far!

 

Yes sir, that 4th line would have made me smile.... Close,but no cigar

Todd's avatarTodd

Quote: Originally posted by TheMeatman2005 on Oct 21, 2018

I had come closer than that CD!

Back in 2014, I bought a $5 quick-pick up in Connecticut on Dec 29, 2014 for the $177 Mil jackpot Mega Millions drawing the following day.

The winning numbers drawn were 3-7-44-63-67 MB 12 

When I checked my ticket on Dec 31, I had ALL 6 NUMBERS on the one ticket....just not all on the same line.

I did, however get 4 on one line for $500 and the Megaball number for $1

So close, yet still so far!

 

I had one like that myself back in 2005: https://www.lotterypost.com/thread/121976

Not only was I one number off from getting the first 5 numbers, but the number I needed was on the following line, in the correct position.  (I also had a 3+0 match on the same ticket.)

I still remember the feeling that my heart raced when I read the first three numbers lining up.  I can't imagine what I would have felt if they kept matching up along the rest of the line! Shocked

Edit:

Oops, I forgot I had done another 4+0 match in Mega Millions a few months earlier the same year!

https://www.lotterypost.com/thread/111624

That one was from one of Lottery Post's wheels (this one).  I liked that wheel because at the time Mega Millions had 52 numbers in the main number pool, and the wheel had at least a guaranteed 2+0 match every time for playing 40 lines.  (A "2 if 5 of 52" wheel.)

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by Todd on Oct 21, 2018

I had one like that myself back in 2005: https://www.lotterypost.com/thread/121976

Not only was I one number off from getting the first 5 numbers, but the number I needed was on the following line, in the correct position.  (I also had a 3+0 match on the same ticket.)

I still remember the feeling that my heart raced when I read the first three numbers lining up.  I can't imagine what I would have felt if they kept matching up along the rest of the line! Shocked

Edit:

Oops, I forgot I had done another 4+0 match in Mega Millions a few months earlier the same year!

https://www.lotterypost.com/thread/111624

That one was from one of Lottery Post's wheels (this one).  I liked that wheel because at the time Mega Millions had 52 numbers in the main number pool, and the wheel had at least a guaranteed 2+0 match every time for playing 40 lines.  (A "2 if 5 of 52" wheel.)

Close, but no  No Nod

Coin Toss's avatarCoin Toss

Quote: Originally posted by dpoly1 on Oct 21, 2018

Agree with stupid

And you sound like a Stalinist

dpoly1,

You're calling me a Stalinist?

Hey STUPID, it wasn't Stalin who said Ein volk, Ein reich uind Ein Fuhrer.

Study up on history before you make comments that make yourself look like an idiot. 

Enough of this and return to your jackpot fever, you who need 1 billion or more.

BuyLow's avatarBuyLow

Quote: Originally posted by TheMeatman2005 on Oct 21, 2018

Close, but no  No Nod

Jester yep, close only counts in horseshoes and hand-grenades.  LOL

dpoly1's avatardpoly1

Quote: Originally posted by Coin Toss on Oct 21, 2018

dpoly1,

PS,

What does Carnegie have anything to do with you justifying a need for the kind of money?

Lurking

Coin Toss

PS,

Why does anyone have to "justify" a "need" for any amount of money to you?

It's because you think like a Third Grader!

Your Greed of Envy is showing!

dpoly1's avatardpoly1

Quote: Originally posted by TheMeatman2005 on Oct 21, 2018

Close, but no  No Nod

Awesome Post!

dpoly1's avatardpoly1

Quote: Originally posted by BuyLow on Oct 21, 2018

Jester yep, close only counts in horseshoes and hand-grenades.  LOL

Thud

LOL

dpoly1's avatardpoly1

Quote: Originally posted by Coin Toss on Oct 21, 2018

dpoly1,

You're calling me a Stalinist?

Hey STUPID, it wasn't Stalin who said Ein volk, Ein reich uind Ein Fuhrer.

Study up on history before you make comments that make yourself look like an idiot. 

Enough of this and return to your jackpot fever, you who need 1 billion or more.

Agree with stupid

Coin Toss

I never said that you were quoting Stalin

I'm just pointing out your Third Grade Radical Stalinism

I can school you on History every day of the week little one

"Ein Fuher" was a Progressive like you

music*'s avatarmusic*

The World is at Peace compared to what it was in the 1930's, 40's and the Cold War. I can personally feel the difference. Compare the news with that Era and be glad for all the stupid things they talk about now.  Let us leave the past buried and RIP. 

benjibanks's avatarbenjibanks

Even if its not me, I hope that one person wins the jackpot.  Its just more exciting when one person wins and they are from a state that has never won the jackpot.

BuyLow's avatarBuyLow

Can't believe they haven't upped it to $1.85 Billion yet!  Are the bean counters off on the weekend?? 

 

Thinking of...

OldSchoolPa's avatarOldSchoolPa

Quote: Originally posted by I*won on Oct 20, 2018

What??? 

$1.60
BILLION
Cash Option: $904 million
Now it's on!!!
That's almost a $billion take home. 
Powerball will soar too!

I won't get excited until I see I have all 6 matching numbers. Until that time, this is dead to me as Mr. Wonderful would say on Shark Tank.

OldSchoolPa's avatarOldSchoolPa

Quote: Originally posted by BuyLow on Oct 21, 2018

Can't believe they haven't upped it to $1.85 Billion yet!  Are the bean counters off on the weekend?? 

 

Thinking of...

Monday morning they will bump it up to $2.0 Billion which will spark a buying frenzy all day Monday and Tuesday. When it is all said and done, I will have the lone matching ticket to the $2.2 Billion Mega Millions jackpot.

I will be the most hype yet impossible to identify lottery winner you will ever see. I will wear a MAFA hat...Make America Free Again. And that will be the last you will see of me in front of cameras and the media. I won't make the media rounds to the morning shows or even the late night shows as I would have to keep up my ruse to hide my identity.  I may fly Basic Economy from time to time to keep myself grounded. I would drive a regular car but I would also have a nice luxury car or two.  No pocket or speed rockets as I want to live as long as I possibly can and don't find much appeal in Lamborghini's, Bugatti's, or Aston Martins. l will thank all players (contributors) as I have contributed for over 2 decades.

alsmurf4's avataralsmurf4

I think it’s time a Louisiana ticket won a MegaMillions jackpot, or at least part of it.

viceroy2's avatarviceroy2

I tell you what, guys... I live in a NON-ANONYMOUS state...KY.

Looks like if I win I'm headed to the Wealth Management Folks, and ask them to pull out a few Ready-Made NEVADA or DELAWARE SHELF LLC's, and set up a Claiming Trust, and a Bridge Trust. 

And, of course, instruct the Rep who stands in front of the Camera to say a few words for me, without Giving away my Identity...

Such as leave CERTAIN clues, so that those who USED to know me, (and claim they don't remember me anymore,) will then know EXACTLY who won.....

...and EXACTLY WHY they ain't getting one red cent.

Kind of like the way Donna Summer, in her one song, sang about how certain letters were read "On the Ra-di-o..."

Of course, I'll let you all here have ONE CLUE as to who I am....

Remember the Star Wars Parody "Hardware Wars?"

Well, there was a certain character in that short that said, "Nah, it's only just a headache..."

Who was HE?

And you know what?  I'm willing to bet he ate frog legs drowned in hot sauce, too.....or maybe ketchup....

I'm telling you, it's the ONLY WAY to have 'em. 

Cool

Revolution777's avatarRevolution777

I don't think they will bump MM until Tuesday... and then to only $1.65 or 1.7B.

viceroy2's avatarviceroy2

well, Revolution777,

you might be right.....because...I'm figuring even IF they bumped it to TWO Billion,

people's wallets and pocketbooks will be so WORN OUT from over the weekend...

they'll say , "ach! Forget it....I'm tapped! I gotta get Christmas for the kids!"

What happens if it gets TOO HIGH?  Would they "rolldown?"

Revolution777's avatarRevolution777

Don't forget that PB is siphoning some of MM's money because it is a huge jackpot now also.  It's possible it will end up at $2B, but I doubt it.  If it rolls (and there is a 25% chance of that), then we are looking at $2.2B-$2.5B!!!

viceroy2's avatarviceroy2

Quote: Originally posted by Revolution777 on Oct 21, 2018

Don't forget that PB is siphoning some of MM's money because it is a huge jackpot now also.  It's possible it will end up at $2B, but I doubt it.  If it rolls (and there is a 25% chance of that), then we are looking at $2.2B-$2.5B!!!

Yeah.... Imagine that.....

TWO lotteries worth a BILLION, and rolling over....

Nah....it'll never happen.

At least not this week.....

But then again......

Coin Toss's avatarCoin Toss

Ecclesiastes 5:10, look it up, then you tell me about greed.

Don't set yourself up for an enormous disappointment. 

Bye.

lowellm

Quote: Originally posted by Coin Toss on Oct 21, 2018

Ecclesiastes 5:10, look it up, then you tell me about greed.

Don't set yourself up for an enormous disappointment. 

Bye.

LOL! I tried to copy&paste this Bible verse in context, but I got a HUGE warning from Lottery Post claiming that I was trying to send an unauthorized link. If I attempt this "spam" again, me and my "ilk" can go kick rocks!

Kingofearth's avatarKingofearth

Quote: Originally posted by Revolution777 on Oct 21, 2018

I don't think they will bump MM until Tuesday... and then to only $1.65 or 1.7B.

I Agree!

Bleudog101

Quote: Originally posted by Revolution777 on Oct 21, 2018

I don't think they will bump MM until Tuesday... and then to only $1.65 or 1.7B.

Past three workdays MM increased around noon.  It will definitely go up closer to $2 billion, not that measly amount you suggest.  We shall all wait and see.

 

Keeping Todd quite busy these days.

Kingofearth's avatarKingofearth

Quote: Originally posted by Kingofearth on Oct 21, 2018

I Agree!

Now after a quick trip to the store, i take it back. i doubt it'll increase at all before the drawing.

lowellm

Quote: Originally posted by Kingofearth on Oct 21, 2018

Now after a quick trip to the store, i take it back. i doubt it'll increase at all before the drawing.

I'm not in a "mecca" of consumerism, but I'm not hearing as much buzz about this drawing as the last one. Everybody I talked to (or was in earshot of) was buying tickets for both big jackpots for the last drawing. I talked to a few folks today, asked them if they had their tickets bought, they essentially said "meh... don't see the point."

Tucker Black's avatarTucker Black

jackpot fatigue even though the (fake) jackpot is over $1 billion LOL

Kingofearth's avatarKingofearth

Quote: Originally posted by lowellm on Oct 21, 2018

I'm not in a "mecca" of consumerism, but I'm not hearing as much buzz about this drawing as the last one. Everybody I talked to (or was in earshot of) was buying tickets for both big jackpots for the last drawing. I talked to a few folks today, asked them if they had their tickets bought, they essentially said "meh... don't see the point."

You should read this old fictional (soon to be real) story from a few years back.

https://www.lotterypost.com/thread/304162

Life imitates art. It won't be long before this fictional story becomes reality. Thud

noise-gate

Quote: Originally posted by lowellm on Oct 21, 2018

I'm not in a "mecca" of consumerism, but I'm not hearing as much buzz about this drawing as the last one. Everybody I talked to (or was in earshot of) was buying tickets for both big jackpots for the last drawing. I talked to a few folks today, asked them if they had their tickets bought, they essentially said "meh... don't see the point."

Someone had earlier said that some lottery players, had spent their entire stash on the last go round. I would not be surprised. I guess they figured that the jackpot would be won & therefore, went for broke* literally. Even a pandhandler leaves a quarter or two in his cup, to show that someone has a " giving heart." 

Stack47

Quote: Originally posted by noise-gate on Oct 22, 2018

Someone had earlier said that some lottery players, had spent their entire stash on the last go round. I would not be surprised. I guess they figured that the jackpot would be won & therefore, went for broke* literally. Even a pandhandler leaves a quarter or two in his cup, to show that someone has a " giving heart." 

This jackpot run is almost identical to the January 2016 PB run except more tickets were sold for that one. Just noticed 14 out of the current 15 LP posts were about numbers games even though there are over $2 billion in jackpots on Tuesday and Wednesday. Guess the pick-3 and pick-4 predictors figure if they can't win those games, MM and PB are way too difficult.

KY Floyd's avatarKY Floyd

"Now after a quick trip to the store, i take it back. i doubt it'll increase at all before the drawing."

When PB hit 1.586 billion the initial estimate was (deliberately, I'm sure) very low. The jackpot had already increased $420 million, from 528 to 948, but the initial estimate was for an increase of just 352. Maybe they were considering that people may have blown enough on the previous drawing that they wouldn't be spending $50, $100 or more, but I'm sure they expected the initial estimate to be low. It may also be significant that PB was competing (if you could call it that) against  a MM jackpot of $165 million, that dropped back to just $12 million the day of the PB drawing. Meanwhile MM was competing against a PB jackpot of 460, with a good chance of rolling when the decision to start off at 1.6B was made

This time around I think the people at MM threw caution to the wind. The record PB started out a bit lower than an even billion and increased by 620. PB has always sold better than MM, and we've had almost 3 years of jackpot fatigue to slow things down a bit. The record PB was on the 23rd drawing, and MM is up to 26. Higher interest rates mean that MM"s 1.6 is a bit less than PB's, but it's not a huge difference.

I'll be surprised if it increases much, and unsurprised if it comes up short. A bump, or lack of one, by noon tomorrow should tell the story. Maybe the lack of a bump over the weekend already has.

Revolution777's avatarRevolution777

Do you think Powerball will increase the odds of 1:292M to maybe 1:330M to keep up with MM and have higher jackpots?  I think it is just around the corner myself.  I like the idea of combining MM & PB and have the drawings 3 times a week.  It would create more excitement.  Also, would like to see more $5M or $10M winners.  Share the wealth man!

Original Bey's avatarOriginal Bey

TheMeatman2005's avatarTheMeatman2005

That's insane!

There are three other lottery retailers not too far away from that location. I wonder how long the lines were there.

CDanaT's avatarCDanaT

Quote: Originally posted by TheMeatman2005 on Oct 22, 2018

That's insane!

There are three other lottery retailers not too far away from that location. I wonder how long the lines were there.

I was thinking that Primm was all in NV... but after looking at google maps,I have been fully educated about that store.https://www.google.com/maps/place/Primm,+NV+89019/@35.6056211,-115.3918572,520m/data=!3m1!1e3!4m5!3m4!1s0x80cf44057dcf2991:0x12791757e28d00!8m2!3d35.6123359!4d-115.3880456

Not sure what town the lotto store is in

Horsegeek40

That line keeps going like energizer bunny!!!Eek

noise-gate

Quote: Originally posted by Original Bey on Oct 22, 2018

Sure that's not the migrant caravan from South America  making it's way through Mexico to our borders?

CDanaT's avatarCDanaT

Quote: Originally posted by Horsegeek40 on Oct 22, 2018

That line keeps going like energizer bunny!!!Eek

Can you imagine standing in that line for 3+ hours just to give a clerk a few $$ for a 20 second transaction ??

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by CDanaT on Oct 22, 2018

Can you imagine standing in that line for 3+ hours just to give a clerk a few $$ for a 20 second transaction ??

And they'll be back again on Wednesday if it rolls again Tuesday.

$3.5 BILLION for Friday

golfer1960's avatargolfer1960

I hate to admit it but I got 20 tickets on MM and 15 tickets for PB. Not to mention all the ticket$ I purchased since the MM crossed $200M. Good luck to me. Yes Nod

Horsegeek40

Not a chance. I like my little market thank you very much.  My SO would be happy to get huge workspace to fix his tractors and other implements. Fully enclosed and under cover.

Original Bey's avatarOriginal Bey

Quote: Originally posted by TheMeatman2005 on Oct 22, 2018

That's insane!

There are three other lottery retailers not too far away from that location. I wonder how long the lines were there.

It must have produced a major winner in the past. Players being interviewed often say, lightening could strike twice.

Original Bey's avatarOriginal Bey

Quote: Originally posted by Horsegeek40 on Oct 22, 2018

That line keeps going like energizer bunny!!!Eek

And from two different directions...lol

Original Bey's avatarOriginal Bey

Quote: Originally posted by CDanaT on Oct 22, 2018

Can you imagine standing in that line for 3+ hours just to give a clerk a few $$ for a 20 second transaction ??

Now that's putting it into perspective but they would argue those 20 seconds give them a chance to dream. Lol

golfer1960's avatargolfer1960

Quote: Originally posted by BuyLow on Oct 21, 2018

Can't believe they haven't upped it to $1.85 Billion yet!  Are the bean counters off on the weekend?? 

 

Thinking of...

BuyLow, you need it to go higher? Not satisfied yet? What?

Original Bey's avatarOriginal Bey

Quote: Originally posted by noise-gate on Oct 22, 2018

Sure that's not the migrant caravan from South America  making it's way through Mexico to our borders?

A winner can apply for a B5 visa.

Original Bey's avatarOriginal Bey

Quote: Originally posted by TheMeatman2005 on Oct 22, 2018

And they'll be back again on Wednesday if it rolls again Tuesday.

$3.5 BILLION for Friday

With bells on!

Horsegeek40

*jingling bells* Of course players come back to try to drink from billion dollar well.

bigbuckswede

Quote: Originally posted by Revolution777 on Oct 22, 2018

Do you think Powerball will increase the odds of 1:292M to maybe 1:330M to keep up with MM and have higher jackpots?  I think it is just around the corner myself.  I like the idea of combining MM & PB and have the drawings 3 times a week.  It would create more excitement.  Also, would like to see more $5M or $10M winners.  Share the wealth man!

It's a bad idea to compete in worsening the odds to much. Superenalotto in Italy have 1:622,614,630 to match 6 out of 90! the jackpot also grows slow and nobody hardly ever wins.

golfer1960's avatargolfer1960

Quote: Originally posted by Original Bey on Oct 22, 2018

Wow, that's incredible. You can't buy lottery tickets in Nevada so the citizens have to cross over into CA to buy lottery tickets. I guess that makes since so that the state doesn't compete and put the casinos out of business. I used to have to drive to PA back in the 1980's to buy Powerball tickets but now NJ offers MM and PB. No lines where I live because it's readily available.

jjtheprince14

It’s still stuck at $1.6b, no one cares or is buying tickets other than us lol.

CDanaT's avatarCDanaT

Quote: Originally posted by TheMeatman2005 on Oct 22, 2018

And they'll be back again on Wednesday if it rolls again Tuesday.

$3.5 BILLION for Friday

MM... That figure would be ridiculous to win. The take-home after fed taxes would be in the $1.3 - 1.4 Billion range

noise-gate

Quote: Originally posted by Original Bey on Oct 22, 2018

A winner can apply for a B5 visa.

Not if you a " Bad Hombre "- Billionaire or not.

Bleudog101

Quote: Originally posted by jjtheprince14 on Oct 22, 2018

It’s still stuck at $1.6b, no one cares or is buying tickets other than us lol.

Not noon yet on the East Coast, they upped the ante last three business days around then.   Come on Georgia, bump 'er up!

golfer1960's avatargolfer1960

THIS IS THE MOST EXPENSIVE CAR I COULD SEE MYSELF BUYING: 2019 CADILLAC CT6. SWEET AT $78K.

Original Bey's avatarOriginal Bey

Image result for dodge ram 2019

 

"There's something women love about a pickup man." Joe Diffie

golfer1960's avatargolfer1960

Quote: Originally posted by Original Bey on Oct 22, 2018

Image result for dodge ram 2019

 

"There's something women love about a pickup man." Joe Diffie

Yeah Bey, that is niceeeeeeeee! Good luck brother!!!

"joe.., joe.., joe diffie" by Jason Aldean

Original Bey's avatarOriginal Bey

Quote: Originally posted by golfer1960 on Oct 22, 2018

Yeah Bey, that is niceeeeeeeee! Good luck brother!!!

"joe.., joe.., joe diffie" by Jason Aldean

Good luck to you too. There's surely enough to go around!

Horsegeek40

Bey, that is a nice truck!!!!!!!! *drums fingers* we're waiting!! Are you going to rise today, jackpot??

Bleudog101

Well had my lunch, been on FB and no word of jackpot increase...was looking forward to it and Todd would not catch a break...LOL

CDanaT's avatarCDanaT

     Yes Nod   ACURA  NSX

golfer1960's avatargolfer1960

Dana, nice car. My boss used to have one. I thought it was a Maserati. What year is this car?

BuyLow's avatarBuyLow

BMW M5 Competition

CDanaT's avatarCDanaT

Quote: Originally posted by golfer1960 on Oct 22, 2018

Dana, nice car. My boss used to have one. I thought it was a Maserati. What year is this car?

Black one is a 2018.. The silver is 2019( I believe)

golfer1960's avatargolfer1960

Dana, BuyLow, I think I'd have to get one of these too with $1.6B in my hands. Which one you like better? Yes Nod

 

BuyLow's avatarBuyLow

Quote: Originally posted by golfer1960 on Oct 22, 2018

Dana, BuyLow, I think I'd have to get one of these too with $1.6B in my hands. Which one you like better? Yes Nod

 

The blinged out one! Naughty

golfer1960's avatargolfer1960

"I don't know if you were looking at me or not, you probably smile like that all the time. I don't mean to bother you but I couldn't just walk by and not say Hi". 

By the way ma'am, I just won $1.6B.

CDanaT's avatarCDanaT

I prefer the blacked-out one

benjibanks's avatarbenjibanks

The Mega Millions website is down.

benjibanks's avatarbenjibanks

Ford Raptor

CDanaT's avatarCDanaT

Quote: Originally posted by benjibanks on Oct 22, 2018

The Mega Millions website is down.

Sure is................. Haven't seen that one come up before

http://www.megamillions.com/

Mamabearlove$'s avatarMamabearlove$

It's definitely on now to see who's going to win this big jackpot

Kingofearth's avatarKingofearth

Quote: Originally posted by CDanaT on Oct 22, 2018

Sure is................. Haven't seen that one come up before

http://www.megamillions.com/

It's back up with the same jackpot as before.

KY Floyd's avatarKY Floyd

"$3.5 BILLION for Friday"

Maybe Friday November 2nd, if it keeps rolling.

It's time to face reality. It's 2PM on the 3rd day of sales and there's no bump. They went out on a limb calling it 1.6B right off the bat. PB gets the potential advantage that a MM winner resets the jackpot for the last day of sales, but MM is up against a game that's usually more popular and will keep waving its own huge jackpot in front of players until after MM sales stop. My guess is that they're sweating bullets right now, hoping that PB doesn't take away the late buying frenzy they need to get to their prediction.

 

I guess none of the people in that long line know about this place: https://goo.gl/maps/GiCjhfkifvk

Revolution777's avatarRevolution777

Looks like no bump today.  Maybe tomorrow?  Or maybe not at all?  Is this jackpot over estimated?  $1.5B?

benjibanks's avatarbenjibanks

No bump means the odds that its rolls to Friday are pretty good.

THRIFTY's avatarTHRIFTY

Turning A $2 Investment Into $1.6 Billion Dollars? Green laughGreen laughGreen laugh

Original Bey's avatarOriginal Bey

The PB is still competing for players cash and the odds are better for that JP. Grant it not by much, but I think people conclude that 10mil fewer combinations gives them a better chance.

Revolution777's avatarRevolution777

The odds are still astronomical.  About the same as you being the only person getting picked out of every person in the U.S.A. 

Sun Smiley

Kingofearth's avatarKingofearth

Quote: Originally posted by benjibanks on Oct 22, 2018

No bump means the odds that its rolls to Friday are pretty good.

Yep. I wonder what the chances are that the jackpot will only increase by the minimum $5 Million.

JWBlue

NO WAY there is only one winner.

CDanaT's avatarCDanaT

Quote: Originally posted by JWBlue on Oct 22, 2018

NO WAY there is only one winner.

JW..... look at the last draw, there wasn't a winner at all..... How about last year with the Powerball with that Wozniak lady ?? Unfortunately,the only other comparison is the 3way split for the previous large jackpot of $1.5B

It does happen on occasion.

Horsegeek40

Not often when jackpots get this high but sole winners do pop up.

BuyLow's avatarBuyLow

Quote: Originally posted by CDanaT on Oct 22, 2018

JW..... look at the last draw, there wasn't a winner at all..... How about last year with the Powerball with that Wozniak lady ?? Unfortunately,the only other comparison is the 3way split for the previous large jackpot of $1.5B

It does happen on occasion.

What a strange bird the Wozniak woman was, claimed like the day after, walked out in front of the cameras chomping on her gum.  Then the lottery commission retired and removed the machine that produced the winning ticket. Hmmmmmm

ieatdirt

Quote: Originally posted by Revolution777 on Oct 22, 2018

Looks like no bump today.  Maybe tomorrow?  Or maybe not at all?  Is this jackpot over estimated?  $1.5B?

Overestimate?, probably.  I really think they hoped to continue to build on the frenzy by announcing the largest JP ever. Will it work?  Will it even go up some?  All just speculation for now.  I do think having PB so large concurrently probably siphons off some potential MM spending, I know it did for us.

Original Bey's avatarOriginal Bey

Quote: Originally posted by BuyLow on Oct 22, 2018

What a strange bird the Wozniak woman was, claimed like the day after, walked out in front of the cameras chomping on her gum.  Then the lottery commission retired and removed the machine that produced the winning ticket. Hmmmmmm

After 32 years she resigned by phone.

Original Bey's avatarOriginal Bey

BuyLow's avatarBuyLow

Quote: Originally posted by Original Bey on Oct 22, 2018

LOL well that's not the most flattering pic of ole' Mavis.  Green laugh

benjibanks's avatarbenjibanks

"893.35 QUADRILLION TO one. That’s the likelihood of what’s happened to 20-year-old Dylan McWilliams. He was bitten by a shark, attacked by a bear, and bitten by a rattlesnake—all in just over three years."

The odds to win both jackpots is 1 in 88 trillion.   

BuyLow's avatarBuyLow

Quote: Originally posted by benjibanks on Oct 22, 2018

"893.35 QUADRILLION TO one. That’s the likelihood of what’s happened to 20-year-old Dylan McWilliams. He was bitten by a shark, attacked by a bear, and bitten by a rattlesnake—all in just over three years."

The odds to win both jackpots is 1 in 88 trillion.   

It's possible fo shizzle, the likelyhood just ain't too great, lol. Jester

BuyLow's avatarBuyLow

Here's a nice little 36,000 acre ranch for $55,000,000.00 in case anyone want's to keep their neighbors far away.

Original Bey's avatarOriginal Bey

Quote: Originally posted by BuyLow on Oct 22, 2018

Here's a nice little 36,000 acre ranch for $55,000,000.00 in case anyone want's to keep their neighbors far away.

There are no words.

 

I definitely would prefer a property I couldn't cover every inch of in a lifetime than an over sized, high maintenance mansion where I won't explore every room.

benjibanks's avatarbenjibanks

We have better odds of winning a double jackpot than creating a perfect NCAA bracket, which is 1-in-9.2 quintillion. 

Original Bey's avatarOriginal Bey

music*'s avatarmusic*

Thank You Original Bey for the fun interview. I enjoyed it.

andl's avatarandl

Why wouldn't MM bump? More tickets have been sold than last time and it bumped over 400M.

Kyle7824's avatarKyle7824

Quote: Originally posted by Original Bey on Oct 22, 2018

There are no words.

 

I definitely would prefer a property I couldn't cover every inch of in a lifetime than an over sized, high maintenance mansion where I won't explore every room.

You can in a side by side atv vehicle:-)

winoneday

Quote: Originally posted by andl on Oct 22, 2018

Why wouldn't MM bump? More tickets have been sold than last time and it bumped over 400M.

Here is one good reason. They have to sell 500 million tickets just to support the current jackpot estimate.

Original Bey's avatarOriginal Bey

Quote: Originally posted by Kyle7824 on Oct 22, 2018

You can in a side by side atv vehicle:-)

I Agree!

 

A property on which I can fish, hike and hunt is a dream come true. Taking in the sites and fresh air on an atv is far better than a stuffy mansion with gaudy furniture.

 

Lady Luck let's do this!!!!

Original Bey's avatarOriginal Bey

But if you insist on a fancy modern mansion...

 

CDanaT's avatarCDanaT

Quote: Originally posted by Original Bey on Oct 22, 2018

I Agree!

 

A property on which I can fish, hike and hunt is a dream come true. Taking in the sites and fresh air on an atv is far better than a stuffy mansion with gaudy furniture.

 

Lady Luck let's do this!!!!

36,000 acres.... whew, that is some serious space... I was thinking maybe 1/10th of that...but the fishing/hunting and abundant streaking does sound great

Horsegeek40

36,000???? Too much in my opinion. 500-1000 acres will work.

BuyLow's avatarBuyLow

Quote: Originally posted by Horsegeek40 on Oct 22, 2018

36,000???? Too much in my opinion. 500-1000 acres will work.

Yea, looks like they have a staff of around 35.  It's a working ranch, ag, fishing, cattle, recreation etc.  Generates $2.4 million per year.

BuyLow's avatarBuyLow

Quote: Originally posted by Original Bey on Oct 22, 2018

But if you insist on a fancy modern mansion...

 

I have it narrowed down to a couple of houses on the east and west coasts of FL.  Docking the boat.... err yacht in the back yard is easily doable in these areas.

CDanaT's avatarCDanaT

Has anyone seen any reasonable jackpot projections if this thing rolls over again ?

BuyLow's avatarBuyLow

Quote: Originally posted by CDanaT on Oct 22, 2018

Has anyone seen any reasonable jackpot projections if this thing rolls over again ?

The chief bottle washer might know?  Heck its a number so big it might break the interwebs.  ROFL

Original Bey's avatarOriginal Bey

Quote: Originally posted by BuyLow on Oct 22, 2018

I have it narrowed down to a couple of houses on the east and west coasts of FL.  Docking the boat.... err yacht in the back yard is easily doable in these areas.

You'll be rich enough to handle those hefty property taxes. Lots of sexy options.

BuyLow's avatarBuyLow

Quote: Originally posted by Original Bey on Oct 22, 2018

You'll be rich enough to handle those hefty property taxes. Lots of sexy options.

Property taxes are disgusting!! For a modest mansion of $6mil in South FL, taxes are like $7200 PER MONTH! Red Devil Then again we have no state income taxes. Hippy

Murgatroyd

Quote: Originally posted by CDanaT on Oct 22, 2018

Has anyone seen any reasonable jackpot projections if this thing rolls over again ?

Probably in the 2.2-2.5B range. There's about a 1 in 8 chance of it happening.

Stack47

Quote: Originally posted by dpoly1 on Oct 20, 2018

Andrew Carnegie sold his company BEFORE Income Tax was law.

Carnegie died on August 11, 1919, in Lenox, Massachusetts at his Shadow Brook estate, of bronchial pneumonia. He had already given away $350,695,653 (approximately $76.9 billion, adjusted to 2015 share of GDP figures) of his wealth.

His Foundation STILL helps people to this day!

That's how Capitalism WORKS!

Bash

All those guys began divesting when the Sixteenth Amendment was purposed. Spent lots of time in one of his foundations, the Carnegie Mellon Library's family history section.

Even though he was out of the country and actually favored labor unions, Carnegie got a bad name from the Homestead Strike.

LottoMetro's avatarLottoMetro

Quote: Originally posted by CDanaT on Oct 22, 2018

Has anyone seen any reasonable jackpot projections if this thing rolls over again ?

I am going to say $2B if it rolls.

We'll know tomorrow around 4:30 PM for sure Wink

Stack47

Quote: Originally posted by Bleudog101 on Oct 21, 2018

Can't you do a blind trust in Tennessee??

Any person anywhere in the U.S. can create a blind trust, but unless the jackpot winners holds a public office, it makes no sense for a large jackpot winner to use one.

Blind Trust: a financial arrangement in which a person in public office gives the administration of private business interests to an independent trust in order to prevent conflict of interest. Under the trust, the owner does not know how the assets are managed.

Stack47

Quote: Originally posted by dpoly1 on Oct 21, 2018

Coin Toss

PS,

Why does anyone have to "justify" a "need" for any amount of money to you?

It's because you think like a Third Grader!

Your Greed of Envy is showing!

I Agree! and  ROFL

Stack47

Quote: Originally posted by KY Floyd on Oct 22, 2018

"$3.5 BILLION for Friday"

Maybe Friday November 2nd, if it keeps rolling.

It's time to face reality. It's 2PM on the 3rd day of sales and there's no bump. They went out on a limb calling it 1.6B right off the bat. PB gets the potential advantage that a MM winner resets the jackpot for the last day of sales, but MM is up against a game that's usually more popular and will keep waving its own huge jackpot in front of players until after MM sales stop. My guess is that they're sweating bullets right now, hoping that PB doesn't take away the late buying frenzy they need to get to their prediction.

 

I guess none of the people in that long line know about this place: https://goo.gl/maps/GiCjhfkifvk

It really depends on how many tickets must be sold to get $600 million increase and they haven't sold enough.

"MM is up against a game that's usually more popular and will keep waving its own huge jackpot in front of players until after MM sales stop."

I Agree! The person in front of me at the gas station asked for PB tickets. And there was a sign showing both cash value jackpots over the machine.

Revolution777's avatarRevolution777

Hey Now,

If one of you LP peeps wins the jackpot, can I rent out a room in your bloody MANSION?  How much would you charge me to live w/ you and be your KATO KAELIN?  LMAO!!

Revolution777's avatarRevolution777

HOW MANY FULL MOONS DOES IT TAKE TO WIN A BIG JACKPOT?

WAIT FOR IT...................................................................................................

LottoLucy's avatarLottoLucy

Quote: Originally posted by Stack47 on Oct 22, 2018

Any person anywhere in the U.S. can create a blind trust, but unless the jackpot winners holds a public office, it makes no sense for a large jackpot winner to use one.

Blind Trust: a financial arrangement in which a person in public office gives the administration of private business interests to an independent trust in order to prevent conflict of interest. Under the trust, the owner does not know how the assets are managed.

Except if you win in Ohio.  You know how they always hold out Ohio as an example of a state where you can claim your jackpot anonymously?  Apparently the only way to get that anonymity is by having a blind trust claim the jackpot.  You can apparently then set up the trust to disburse money to the beneficiaries.  It gives me pause and if I had tickets in Ohio I am not sure how I would claim it. 

 

Yes, I have control issues. Jester

golfer1960's avatargolfer1960

Quote: Originally posted by BuyLow on Oct 22, 2018

Here's a nice little 36,000 acre ranch for $55,000,000.00 in case anyone want's to keep their neighbors far away.

I can't possibly think that big BuyLow. Wow! Breathtaking.

golfer1960's avatargolfer1960

Quote: Originally posted by Original Bey on Oct 22, 2018

But if you insist on a fancy modern mansion...

 

How big of a house do I want? I think this is good.

5bd/5.5bth, 4,547sq ft, 1.63 acres in Milton, GA.

muckeyman

The jackpot for today's Mega Millions draw is now 2,000,000,000 dollars. That's more money than some countries annual budget!!!!

CDanaT's avatarCDanaT

Quote: Originally posted by muckeyman on Oct 23, 2018

The jackpot for today's Mega Millions draw is now 2,000,000,000 dollars. That's more money than some countries annual budget!!!!

It is ??? I am looking at the website right now and it shows no change from 1.6 Billion

keepitreal

Still stay 1.6 Billion on usamega.com and megamillions.com. Maybe in few hr it will change who know.

KY Floyd's avatarKY Floyd

"No bump means the odds that its rolls to Friday are pretty good."

That's true, if by "pretty good" you mean somewhere around 1 in 5. Considering the size of the jackpot I guess that 1 in 5 is a pretty good chance.

 

"that's not the most flattering pic of ole' Mavis."

I'm pretty sure that's not Mavis. Cyrano de Bergerac maybe?

 

If you buy the Antone Ranch do you also get a stake in, or special access to, the Bunny Ranch? https://www.businessinsider.com/fund-manager-arrested-in-prostitution-sting-2013-9

 

"Has anyone seen any reasonable jackpot projections if this thing rolls over again ?"

Based on the lack of a bump I'm thinking they might start at 1.8 or 1.9. An even 2B looks good, but I think there's a bit more excitement if they get to bump it by $100 million or so at  least once. And if it does roll there's no telling what happens after a lot of players have already spent big bucks on the previous two drawings. The people who only play when it's huge will continue to throw $2 to $10 bucks at it, but it's entirely possible that sales could be less than the last drawing or two. They have some data on how much is spent on a few tickets vs 25 or more tickets, but they really don't have any more experience at predicting sales when it rolls from a 1.5 billion than any of us.

The TX lottery site should have the official word about their best first guess by early to mid afternoon.

Bleudog101

Quote: Originally posted by muckeyman on Oct 23, 2018

The jackpot for today's Mega Millions draw is now 2,000,000,000 dollars. That's more money than some countries annual budget!!!!

Not on their website and the past week Facebook from different states had the increases before MM website three times.  None this morning.

Some guy on GMA just now said he bought $1500 worth of tickets...

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by muckeyman on Oct 23, 2018

The jackpot for today's Mega Millions draw is now 2,000,000,000 dollars. That's more money than some countries annual budget!!!!

The Mega Millions website has jackpot set at $1.6 Bil.

Maybe what you read is combining the MM ($1.6 Bil) & PB ($620 Mil) jackpots together.

That comes to over $2,000,000,000

Original Bey's avatarOriginal Bey

Quote: Originally posted by Bleudog101 on Oct 23, 2018

Not on their website and the past week Facebook from different states had the increases before MM website three times.  None this morning.

Some guy on GMA just now said he bought $1500 worth of tickets...

I hope he was just mouthing off because he was on national TV or that he meant 1500 pesos.

Original Bey's avatarOriginal Bey

Teddi's avatarTeddi

Quote: Originally posted by muckeyman on Oct 23, 2018

The jackpot for today's Mega Millions draw is now 2,000,000,000 dollars. That's more money than some countries annual budget!!!!

Is this wishful thinking or are you just pulling numbers out your backside?

Stack47

Quote: Originally posted by LottoLucy on Oct 22, 2018

Except if you win in Ohio.  You know how they always hold out Ohio as an example of a state where you can claim your jackpot anonymously?  Apparently the only way to get that anonymity is by having a blind trust claim the jackpot.  You can apparently then set up the trust to disburse money to the beneficiaries.  It gives me pause and if I had tickets in Ohio I am not sure how I would claim it. 

 

Yes, I have control issues. Jester

The winners can remain anonymous in any state allow them to claim via trust. A blind trust is a totally different legal arrangement. 

"if I had tickets in Ohio I am not sure how I would claim it."

I'm not even going to ask why even buy tickets if you're not sure you would claim it because it makes no sense.

muckeyman

Quote: Originally posted by muckeyman on Oct 23, 2018

The jackpot for today's Mega Millions draw is now 2,000,000,000 dollars. That's more money than some countries annual budget!!!!

Sorry folks; got that BAD lnfo from a local radio broadcast yesterday. An example of fake news.

Teddi's avatarTeddi

Quote: Originally posted by muckeyman on Oct 23, 2018

Sorry folks; got that BAD lnfo from a local radio broadcast yesterday. An example of fake news.

More like you misunderstood what was stated, spread false information based on that misunderstanding and are blaming it on someone else when called out on it.

Bleudog101

When I win it, will be calling the Cincinnati office.  If not mistaken all of the regional offices there operate the same in that all lottery prizes payable there?  Unlike my Indiana ticket where we have to go to Indianpolis or my Mass. ticket to Braintree.  Both of those states have regional offices but don't pay out the big bucks.

But if I'm wrong it is from one end of I-71 (Louisville, KY) to the terminus in Cleveland, OH and not a bad drive.

lowellm

Quote: Originally posted by Bleudog101 on Oct 23, 2018

When I win it, will be calling the Cincinnati office.  If not mistaken all of the regional offices there operate the same in that all lottery prizes payable there?  Unlike my Indiana ticket where we have to go to Indianpolis or my Mass. ticket to Braintree.  Both of those states have regional offices but don't pay out the big bucks.

But if I'm wrong it is from one end of I-71 (Louisville, KY) to the terminus in Cleveland, OH and not a bad drive.

A couple of years ago someone won a big jackpot (I think it was a $240M MegaMillions) here in Illinois and the Illinois Lottery office in Springfield made a statement asking the winner to call them, they said with a jackpot of that size the winner doesn't need to go to them, the lottery officials will come to the winner. But I'm sure each state has their own protocols.

Bleudog101

Am wondering if MM is not increasing the payout trying to slow down the pandemonium?  Really thought it would go up @ noon yesterday; we'll see about today.

 

Something tells me it'll be announced @ 2300 tonight.

 

Thoughts anyone?

MsBee18

Quote: Originally posted by Bleudog101 on Oct 23, 2018

Am wondering if MM is not increasing the payout trying to slow down the pandemonium?  Really thought it would go up @ noon yesterday; we'll see about today.

 

Something tells me it'll be announced @ 2300 tonight.

 

Thoughts anyone?

PB is stealing sells from MM. So I don't see an increase until draw time tonight. $1.6B should be enough right?

Horsegeek40

I think $1.6 billion is plenty. Others may want more. Big Grin

BuyLow's avatarBuyLow

Quote: Originally posted by Horsegeek40 on Oct 23, 2018

I think $1.6 billion is plenty. Others may want more. Big Grin

BuyLow's avatarBuyLow

BuyLow's avatarBuyLow

jjtheprince14

No increase yet.  I bet if there’s no winner tonight that they won’t even raise the jackpot amount, it will stay at $1.6 billion.

Bleudog101

I Agree!

JADELottery's avatarJADELottery

Quote: Originally posted by jjtheprince14 on Oct 23, 2018

No increase yet.  I bet if there’s no winner tonight that they won’t even raise the jackpot amount, it will stay at $1.6 billion.

Mega Millions Cash Value up to $913,700,000.00 from $904,900,000.00.

It's starting.

Buy Early, Buy Many.

The Bump Is COMING!

hearsetrax's avatarhearsetrax

Horsegeek40

I Agree!

JADELottery's avatarJADELottery

If it ain't won tonight.

$2,000,000,000.00+

Original Bey's avatarOriginal Bey

Rhode Island Lottery Website is showing the increase in CV

JADELottery's avatarJADELottery

Looks like all the Lottery Websites are updating the CV.

BuyLow's avatarBuyLow

$575,631,000.00 CASH after 37% Taxes

 

PartyDanceParty

JADELottery's avatarJADELottery

www.usamega.com has yet to up date the latest MM CV, but you can check out all the Taxes for each state at:

https://www.usamega.com/mega-millions-jackpot.asp

and

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

BuyLow's avatarBuyLow

Quote: Originally posted by JADELottery on Oct 23, 2018

Looks like all the Lottery Websites are updating the CV.

So looks like they were SPOT ON with their $1.6 estimate.  Wonder how much the CV will climb before tonights drawing?

JADELottery's avatarJADELottery

Quote: Originally posted by BuyLow on Oct 23, 2018

So looks like they were SPOT ON with their $1.6 estimate.  Wonder how much the CV will climb before tonights drawing?

The Frenzy might drive the CV to a Billion.

It's a first for a cash value.

BuyLow's avatarBuyLow

Quote: Originally posted by JADELottery on Oct 23, 2018

The Frenzy might drive the CV to a Billion.

It's a first for a cash value.

Yea, I will even add a little more to the pot.  I have 10 lines and will likely get a few more today!

JADELottery's avatarJADELottery

Quote: Originally posted by BuyLow on Oct 23, 2018

Yea, I will even add a little more to the pot.  I have 10 lines and will likely get a few more today!

We're working on something as well, now that pot is juicy and tender.

Wink

JADELottery's avatarJADELottery

Quote: Originally posted by JADELottery on Oct 23, 2018

www.usamega.com has yet to up date the latest MM CV, but you can check out all the Taxes for each state at:

https://www.usamega.com/mega-millions-jackpot.asp

and

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

Cooool, updated!

Cool

Bleudog101

Cash option just upped to $913.7 million, nothing on the $1.6 billion jackpot...nothing higher needed!

JADELottery's avatarJADELottery

Quote: Originally posted by Bleudog101 on Oct 23, 2018

Cash option just upped to $913.7 million, nothing on the $1.6 billion jackpot...nothing higher needed!

it's actually closer to $1.616 Billion, just not much to mention.

till later today when we get the

BUMP

noise-gate

 l think of that scene in Apollo 13 * crisis onboard, where one of the astronauts calls out to Tom Hanks & says about the moon, just come over & look at it.. and he responds " Seen it before." So if it bumps up.." l have seen it before." Nothing new.

Now winning it, or a part of it, l would not have seen that before.Smile

JADELottery's avatarJADELottery

Looks like some are worried the frenzy will cause the pot to be won.

Uh-oh, here it comes.

Wannaberealrich

The Mega site now has 1.60 billion posted. Did they add the third digit? Wasn’t it 1.6 billion before? Trying to figure the CV increase.

BuyLow's avatarBuyLow

Quote: Originally posted by Wannaberealrich on Oct 23, 2018

The Mega site now has 1.60 billion posted. Did they add the third digit? Wasn’t it 1.6 billion before? Trying to figure the CV increase.

I think you are right, I believe it was just 1.6 before.

lejardin's avatarlejardin

Quote: Originally posted by Teddi on Oct 23, 2018

More like you misunderstood what was stated, spread false information based on that misunderstanding and are blaming it on someone else when called out on it.

Jeeeeeez Teddi, the person apologized, dont get your panties in a wad.

Wannaberealrich

Another step towards becoming Mega Billions

Revolution777's avatarRevolution777

The MM jackpot for Friday, Oct. 26th:

$2.0 BILLION!

 

*(if it rolls)

BuyLow's avatarBuyLow

Quote: Originally posted by Revolution777 on Oct 23, 2018

The MM jackpot for Friday, Oct. 26th:

$2.0 BILLION!

 

*(if it rolls)

Went from 1 - 1.6 so I think it will go to 2.3 - 2.5 if it rolls. Just my .02

Revolution777's avatarRevolution777

I think we might get into a situation where we have lottery fatigue from over spending.  With Powerball at $620M, and possibly $1B if it rolls for Saturday, I see MM going to $2.0-$2.1B at best.  But who knows?  You can buy lottery tickets with a debit card now in Oregon.

Kingofearth's avatarKingofearth

Quote: Originally posted by BuyLow on Oct 23, 2018

Went from 1 - 1.6 so I think it will go to 2.3 - 2.5 if it rolls. Just my .02

If no one wins tonight, the initial estimate is 2B Annuity. That is a fact.

Soledad

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

Revolution777's avatarRevolution777

On 2nd thought....I think MM would go to at least $2.2B, maybe $2.3B.  I think there will be 2 winners tonight though!  Good luck amigos!

Soledad

Quote: Originally posted by Revolution777 on Oct 23, 2018

I think we might get into a situation where we have lottery fatigue from over spending.  With Powerball at $620M, and possibly $1B if it rolls for Saturday, I see MM going to $2.0-$2.1B at best.  But who knows?  You can buy lottery tickets with a debit card now in Oregon.

I already do. But I’ll stick with my one ticket each time. It’s hilarious that nobody was even thinking or talking of the Powerball when it was a meager 400 million. Haha. 400 million? That’s nothing. Chopped liver. Haha. I like chopped liver. Yum

Revolution777's avatarRevolution777

Chopped liver w/ onions!  YUMMY!

music*'s avatarmusic*

Quote: Originally posted by Soledad on Oct 23, 2018

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

The question will be, "What if there were more than one winning ticket?"  Would you lose money on your bet?

CDanaT's avatarCDanaT

Quote: Originally posted by Soledad on Oct 23, 2018

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

Well...... lets seeeeee shall we?

MM jackpot combo possibilities = 302,575,350

Cost per ticket = $2.00

302,575,350 combos  X  $2.00 =  $605,150,700 

Current Cash value of MM jackpot = approx. $905,000,000.

Minus fed taxes of 37% = $334,850,000

Jackpot net cash value $570,150,000.

Difference between $605,150,700 and $570,150,000 is a net loss of  $35,000,700

*** you will generate some more $ from lesser tier prizes, but not enough to make up for the $35,000,700 difference

Annuity Plan of $1.6 Billion with unknown future federal tax liabilities and payouts over 29 years ,not to mention the interest income on $605 Million that you would fork out ahead of time??

I think I am opting for spending a few $$ and the what-if factor

paymentplan-man

There are 302,575,350 total combinations so right there that's going to cost you over $605 Million. 

The CV(cash value) is $905 million

24% in initial federal tax is going to leave you with  $687 Million. I didn't account for the rest of the 13% in federal tax because if you were smart you could claim after Jan 1st and invest your winnings so that way when 2020 rolls around you could use what your investments earned you to pay the rest of the tax bill. So right there so far that's a profit of $82 million. Someone who has enough money and time to even do this won't because there all ready uber rich. Now the big things to consider

1.) If there's more than one winner you split the money and you receive an immediate lost to your investment

2.) The time it takes to fill out every combination on play slips

3.) The amount of playslips you'll need 302,575,350/5 (my state you can play up to 5 lines)

4.) The time it takes for a clerk to scan each number into the machine.

5.) A computer program to keep track (perfectly) of all the combinations played.

6.) Lets pretend that its possible to fill out a whole line in exactly one second this would mean that is going to take 302,575,350 seconds to fill out every combination. lets also say that one person could fill out combinations for 24hrs straight. 60sec * 60minutes is 3600 combinations per hr or 3600*24= 86400 combinations per day. So if 1 person was able to spend a whole 24 hrs filling out play slips that's 86,400 combinations they could do per this example. So we would need 302,575,350/86400= 3503 people to cover every combination in 24 hrs. If you wanted to do it in 3 days you would need just 1168 people doing this (for 72 hrs straight). The reason I didn't use 4 days is because you need time to transport the play slips to the retailer. 

Then there's the math for how long the scanning would take and how many different retailers you would have to go to.Lastly there's the fact that if there was one accident at any point you no longer have a 100% chance to win the lottery and you face the possibility of taking a huge loss.

The only scenario I see someone actually attempting this is one out of pure boredom. Not one where someone is actually looking to make a profit. 

Sorry if math was wrong somewhere. 

JADELottery's avatarJADELottery

Quote: Originally posted by Soledad on Oct 23, 2018

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

If you want to double your investment, the jackpot would have to be about 3.1 Billion; in MN, but might be more or less depending on your state.

That is if and only if you are the sole winner.

There is the possibility of having to split the top prize; then you're at a loss.

Revolution777's avatarRevolution777

You wouldn't have time to submit all 302.6M combinations.  So, it's a dumb theory!

Revolution777's avatarRevolution777

I have a proposal:

Combine MM & PB and call it-  SUPERBALL.

330M combinations

3 drawings a week- Monday, Wednesday, and Saturday.

$3 tickets.

Then we would have a $5B jackpot!!

 

COMMENTS?

Coin Toss's avatarCoin Toss

Quote: Originally posted by Soledad on Oct 23, 2018

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

Doing so, if it even was possible, assumes a solo win. 

Original Bey's avatarOriginal Bey

Quote: Originally posted by Soledad on Oct 23, 2018

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

If you had liquid assets that exceeded $300m, would you use it to play the lottery?

CDanaT's avatarCDanaT

Quote: Originally posted by paymentplan-man on Oct 23, 2018

There are 302,575,350 total combinations so right there that's going to cost you over $605 Million. 

The CV(cash value) is $905 million

24% in initial federal tax is going to leave you with  $687 Million. I didn't account for the rest of the 13% in federal tax because if you were smart you could claim after Jan 1st and invest your winnings so that way when 2020 rolls around you could use what your investments earned you to pay the rest of the tax bill. So right there so far that's a profit of $82 million. Someone who has enough money and time to even do this won't because there all ready uber rich. Now the big things to consider

1.) If there's more than one winner you split the money and you receive an immediate lost to your investment

2.) The time it takes to fill out every combination on play slips

3.) The amount of playslips you'll need 302,575,350/5 (my state you can play up to 5 lines)

4.) The time it takes for a clerk to scan each number into the machine.

5.) A computer program to keep track (perfectly) of all the combinations played.

6.) Lets pretend that its possible to fill out a whole line in exactly one second this would mean that is going to take 302,575,350 seconds to fill out every combination. lets also say that one person could fill out combinations for 24hrs straight. 60sec * 60minutes is 3600 combinations per hr or 3600*24= 86400 combinations per day. So if 1 person was able to spend a whole 24 hrs filling out play slips that's 86,400 combinations they could do per this example. So we would need 302,575,350/86400= 3503 people to cover every combination in 24 hrs. If you wanted to do it in 3 days you would need just 1168 people doing this (for 72 hrs straight). The reason I didn't use 4 days is because you need time to transport the play slips to the retailer. 

Then there's the math for how long the scanning would take and how many different retailers you would have to go to.Lastly there's the fact that if there was one accident at any point you no longer have a 100% chance to win the lottery and you face the possibility of taking a huge loss.

The only scenario I see someone actually attempting this is one out of pure boredom. Not one where someone is actually looking to make a profit. 

Sorry if math was wrong somewhere. 

PPM, great job on the breakdown of the payslips and that detail.

Might I add 1 item you didn't mention in claiming after Jan 1st?

What people tend to forget is, that as a lottery winner, you are truly a subcontractor. Being such, you have a duty to pay quarterly estimated taxes. Granted, as you stated, they take 24% right off the top and you are responsible for the remaining 13%.

$905 Million minus 24%($217,200,000) leaves $687,800,000. That remaining 13%($117,650,000) would have to be divided into the remaining quarters of the year for the quarterly estimated tax payment. Payment due April 14th, July 14th, Oct 14th and Jan 14,2020. ( if my memory serves me correctly on the 14 days after the quarter,it might only be 10 days,forgive my exactness on that one)

Unfortunately that still-owed figure of $117,650,000 doesn't get to be kept in an investment someplace drawing interest for a whole year and then paid in on April 15th 2020. Uncle SAM makes sure he gets his due after every 90 period of time. Because after all, it is income/payroll.

The smart way to figure it is, dividing the 4 quarters up, evenly and writing the IRS a check for $29,412,500.00 at the end of each quarter

There is another way to adjust that quarterly dollar figure,but the process is a bit long for me to explain.

Where I got this info from is a relative of mine who is a retired IRS field auditor. We had a long discussion on this a few months ago when the last jackpot got big.

just my 2 pennies

DELotteryPlyr's avatarDELotteryPlyr

Cash option is now 

913,700,000 

Hyper

CDanaT's avatarCDanaT

Sure is !!!!...........................SWEEEEEEEEEEEET

http://www.megamillions.com/

 

Texas Lottery site hasn't updated their figure to match the new cash value,however, they did give a new estimated jackpot in case there is a rollover... New figure is $2 Billion

 https://www.txlottery.org/export/sites/lottery/Games/Mega_Millions/Estimated_Jackpot.html

Murgatroyd

Quote: Originally posted by Soledad on Oct 23, 2018

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

There's no "just" about it. The logistics of actually doing so are prohibitively complex. Assuming you have the ~$600M for the tickets themselves, you would have to hire people to fill out the play slips and purchase the tickets. A quick rough estimate says you would need to monopolize the lottery counters at several thousand stores for three days straight to get the tickets printed. And then, once you've done that, you have to actually find the one winning ticket after the drawing.

Illinoisdreamer

Sounds absolutely awful. I wouldn't be playing it

Odds for these games already suck and at $3 a line no thank you

What I would love to see is them roll back odds on local lotto's which are becoming just as hard or feel as much a longshot to win. No one has won Illinois Lottery in a while now (I think its been 22 weeks/66 drawings since it was won)

Odds suck at 1 in 20,358,520 at $1 a line

Sadly the Mega/Powerball jackpots are only going to entice state lotteries to increase prices on pick 6 games and make odds even more difficult

More Winners + Smaller Jackpots >>>>>>>>> Extremely Rare winners + Mega Jackpots

Original Bey's avatarOriginal Bey

Yes! It's that serious.

 

Teddi's avatarTeddi

Quote: Originally posted by Soledad on Oct 23, 2018

Why doesn’t somebody just buy every single combination? Will it not be a profit? Just curious. Thoughts

  1. The CV after taxes is less than the cost of buying every possible combination
  2. You can't guarantee that that ticket would be the only one sold

Either way, they'd lose millions so that's not a smart thing to do

CDanaT's avatarCDanaT

Quote: Originally posted by Original Bey on Oct 23, 2018

Yes! It's that serious.

 

HELLLOOOOOOooooooooo NINA !!!!   Naughty

Teddi's avatarTeddi

Quote: Originally posted by lejardin on Oct 23, 2018

Jeeeeeez Teddi, the person apologized, dont get your panties in a wad.

No. I've had enough of people calling"fake news"  whenever they don't agree with something or don't understand. It's gotten old.

Bleudog101

Quote: Originally posted by JADELottery on Oct 23, 2018

it's actually closer to $1.616 Billion, just not much to mention.

till later today when we get the

BUMP

Just read on FB that the minds of the MM decided not to increase the jackpot, just a Bump as you say in the cash option value.

paymentplan-man

Quote: Originally posted by CDanaT on Oct 23, 2018

PPM, great job on the breakdown of the payslips and that detail.

Might I add 1 item you didn't mention in claiming after Jan 1st?

What people tend to forget is, that as a lottery winner, you are truly a subcontractor. Being such, you have a duty to pay quarterly estimated taxes. Granted, as you stated, they take 24% right off the top and you are responsible for the remaining 13%.

$905 Million minus 24%($217,200,000) leaves $687,800,000. That remaining 13%($117,650,000) would have to be divided into the remaining quarters of the year for the quarterly estimated tax payment. Payment due April 14th, July 14th, Oct 14th and Jan 14,2020. ( if my memory serves me correctly on the 14 days after the quarter,it might only be 10 days,forgive my exactness on that one)

Unfortunately that still-owed figure of $117,650,000 doesn't get to be kept in an investment someplace drawing interest for a whole year and then paid in on April 15th 2020. Uncle SAM makes sure he gets his due after every 90 period of time. Because after all, it is income/payroll.

The smart way to figure it is, dividing the 4 quarters up, evenly and writing the IRS a check for $29,412,500.00 at the end of each quarter

There is another way to adjust that quarterly dollar figure,but the process is a bit long for me to explain.

Where I got this info from is a relative of mine who is a retired IRS field auditor. We had a long discussion on this a few months ago when the last jackpot got big.

just my 2 pennies

LOL the things you learn. Yeah I had no idea about that thanks mate and good luck on tonight's draw. Cheers

Revolution777's avatarRevolution777

The MM jackpot is at $1.617 with a CV of $913M.  Should go to 1.625B when all tickets are bought!  $625M increase from Friday!

Stack47

Quote: Originally posted by Teddi on Oct 23, 2018

No. I've had enough of people calling"fake news"  whenever they don't agree with something or don't understand. It's gotten old.

Early Sunday morning the Delaware Lottery posted the MM jackpot at $1.6 million and one of our members posted that on LP. They were told "somebody in Delaware jumped the gun because something like that happened with PB. But nobody called "fake news".

A better term "fake news" might be sensationalist, exaggerating or inaccurate.

Soledad

Quote: Originally posted by music* on Oct 23, 2018

The question will be, "What if there were more than one winning ticket?"  Would you lose money on your bet?

Good point. Forgot about that. Guess I got caught up thinking about no winners yet all this time. How this jackpot got so big is beyond me. With all the tickets sold.

Hey anybody got 300 million they can lend me?

Original Bey's avatarOriginal Bey

Suzy-Dittlenose

Quote: Originally posted by BuyLow on Oct 21, 2018

Can't believe they haven't upped it to $1.85 Billion yet!  Are the bean counters off on the weekend?? 

 

Thinking of...

I was thinking the same thing.  I'm a little stunned to see that it hasn't increased by now.  What  gives?

Pumpkin

Kyle7824's avatarKyle7824

How many LP users are there?

trying to figure up my member donation fund if my ticket hits...

picked my own, If only the 2nd prize I’ll be keeping that though lol

Bleudog101

Quote: Originally posted by Suzy-Dittlenose on Oct 23, 2018

I was thinking the same thing.  I'm a little stunned to see that it hasn't increased by now.  What  gives?

Pumpkin

Read that the Mega millions consortium which I understand is made up from folks around the country, not just Georgia.  That group decided not to up the estimated jackpot but increased the cash option 'just a little'.

Revolution777's avatarRevolution777

MM Jackpot is going to end up about $1.62B or so.  No need to raise it. 

Teddi's avatarTeddi

I know it's absolutely illogical for me to be disappointed in a 1.6 billion dollar jackpot, and yet, I am. Either they over exaggerated the anticipated sales, or ticket sales fell way off. I would have expected it to be impossible not to see a bump at this stage. Did people run out of discretionary funds in the earlier rounds? Are more people understanding the odds? We've seen numerous bumps for jackpots that were much smaller. Something seems off. As is the apparent level of excitement this go around.

Kyle7824's avatarKyle7824

Quote: Originally posted by Kyle7824 on Oct 23, 2018

How many LP users are there?

trying to figure up my member donation fund if my ticket hits...

picked my own, If only the 2nd prize I’ll be keeping that though lol

just saw it said 193,000+ users, nevermind lol

JBounds's avatarJBounds

Quote: Originally posted by Teddi on Oct 23, 2018

I know it's absolutely illogical for me to be disappointed in a 1.6 billion dollar jackpot, and yet, I am. Either they over exaggerated the anticipated sales, or ticket sales fell way off. I would have expected it to be impossible not to see a bump at this stage. Did people run out of discretionary funds in the earlier rounds? Are more people understanding the odds? We've seen numerous bumps for jackpots that were much smaller. Something seems off. As is the apparent level of excitement this go around.

From what I've seen they are saying they are running out of combinations.  But who knows?

BuyLow's avatarBuyLow

Quote: Originally posted by Teddi on Oct 23, 2018

I know it's absolutely illogical for me to be disappointed in a 1.6 billion dollar jackpot, and yet, I am. Either they over exaggerated the anticipated sales, or ticket sales fell way off. I would have expected it to be impossible not to see a bump at this stage. Did people run out of discretionary funds in the earlier rounds? Are more people understanding the odds? We've seen numerous bumps for jackpots that were much smaller. Something seems off. As is the apparent level of excitement this go around.

Same.  Same.  Totally disappointed. Crying

brees2012's avatarbrees2012

I wonder what store they were at ..........

There's no way I could stand in a line that long , pass!!! 

MsBee18

I drove 15 miles to a liquor store tonight. I told the clerk "two mega" "one powerball". She hands me three PB. I go back in the store to have her print my two mega's. She apologized. I don't think she was a rookie or nothing, but I kept all of them.

Revolution777's avatarRevolution777

It's a sign MsBee!  Sometimes the quirky stuff produces the big winner!

 

I'm so disappointed in tonight's lame $1.6B jackpot I am going to burn my tickets now!  LOL

MsBee18

Quote: Originally posted by Revolution777 on Oct 23, 2018

It's a sign MsBee!  Sometimes the quirky stuff produces the big winner!

 

I'm so disappointed in tonight's lame $1.6B jackpot I am going to burn my tickets now!  LOL

I know right LOL. I've heard too many stories where the wrong game wins a jackpot.

lowellm

Quote: Originally posted by Kyle7824 on Oct 23, 2018

just saw it said 193,000+ users, nevermind lol

I thought it would be cool to host a "Lottery Post" member meet up, if I won (I'm a new poster, but I've been lurking around LP for years, lol)... It would be cool to meet some of the other posters. I don't know how to arrange the logistics of such a meet up, though.

Kyle7824's avatarKyle7824

Saw a green meteor about 1 1/2hr after I picked my numbers...

BuyLow's avatarBuyLow

Quote: Originally posted by lowellm on Oct 23, 2018

I thought it would be cool to host a "Lottery Post" member meet up, if I won (I'm a new poster, but I've been lurking around LP for years, lol)... It would be cool to meet some of the other posters. I don't know how to arrange the logistics of such a meet up, though.

Don't worry your precious mind about such details.  Your personal concierge will arrange this.  I prefer business or First class travel.  Thanks in advance! Cool

CDanaT's avatarCDanaT

Quote: Originally posted by Kyle7824 on Oct 23, 2018

Saw a green meteor about 1 1/2hr after I picked my numbers...

That was the SWAT helicopter comin' in hot

CDanaT's avatarCDanaT

Quote: Originally posted by lowellm on Oct 23, 2018

I thought it would be cool to host a "Lottery Post" member meet up, if I won (I'm a new poster, but I've been lurking around LP for years, lol)... It would be cool to meet some of the other posters. I don't know how to arrange the logistics of such a meet up, though.

Free rooms, meals and all the alcohol you can drink is usually a good start

lowellm

Quote: Originally posted by BuyLow on Oct 23, 2018

Don't worry your precious mind about such details.  Your personal concierge will arrange this.  I prefer business or First class travel.  Thanks in advance! Cool

Bwahaha! You guys are too much, lol! Just put it all on my brand new American Express Centurion card! No worries!

lowellm

Quote: Originally posted by lowellm on Oct 23, 2018

Bwahaha! You guys are too much, lol! Just put it all on my brand new American Express Centurion card! No worries!

Heck, I might just send my new jet to pick ya'll up!

Horsegeek40

Hope everyone is strapped in for this roller coaster ride in under 2 hours.Jester Laugh

benjibanks's avatarbenjibanks

Just noticed the cash value is now at 913, up from 904.

lowellm

Quote: Originally posted by Horsegeek40 on Oct 23, 2018

Hope everyone is strapped in for this roller coaster ride in under 2 hours.Jester Laugh

Let's roll!

lowellm

Quote: Originally posted by benjibanks on Oct 23, 2018

Just noticed the cash value is now at 913, up from 904.

Well. Every little bit helps! ;)

Teddi's avatarTeddi

Quote: Originally posted by JBounds on Oct 23, 2018

From what I've seen they are saying they are running out of combinations.  But who knows?

From the number of tickets that would have to be sold to run out of combinations, there would have been a bump already. It's an hour until cut off time and the JP still hasn't budged.

lowellm

Quote: Originally posted by Teddi on Oct 23, 2018

From the number of tickets that would have to be sold to run out of combinations, there would have been a bump already. It's an hour until cut off time and the JP still hasn't budged.

Yep.

"lottery officials estimate 75 percent of all number combinations will be purchased, Maryland Lottery and Gaming spokeswoman Carole Gentry told The Washington Post." 

I'd hate to think of how many tickets would need to be sold before they were close to running out of possible combinations.

lowellm

Quote: Originally posted by lowellm on Oct 23, 2018

Yep.

"lottery officials estimate 75 percent of all number combinations will be purchased, Maryland Lottery and Gaming spokeswoman Carole Gentry told The Washington Post." 

I'd hate to think of how many tickets would need to be sold before they were close to running out of possible combinations.

This is definitely "fuzzy math" but maybe an $800M bump would bring us close?

LottoMetro's avatarLottoMetro

Quote: Originally posted by lowellm on Oct 23, 2018

Yep.

"lottery officials estimate 75 percent of all number combinations will be purchased, Maryland Lottery and Gaming spokeswoman Carole Gentry told The Washington Post." 

I'd hate to think of how many tickets would need to be sold before they were close to running out of possible combinations.

Assuming random selection it would require approximately 1.4 billion tickets to be sold for there to be 99% coverage, 2 billion tickets to reach 99.9%.

lowellm

Quote: Originally posted by LottoMetro on Oct 23, 2018

Assuming random selection it would require approximately 1.4 billion tickets to be sold for there to be 99% coverage, 2 billion tickets to reach 99.9%.

Wowzers! My jaw officially hit the floor!

lowellm

I can tell ya'll one thing for certain: In an hour LP will be out of commission just when you need it! lol.

Horsegeek40

This jackpot is going to break the internet in 43  minutes.Crazy

KY Floyd's avatarKY Floyd

"you have a duty to pay quarterly estimated taxes."

Three things. 1. You normally pay estimated taxes based on what you owed the previous year. Based on that you wouldn't need to make big payments because of your higher income. Of course having your income go up my several hundred million isn't something most of us deal with, and I'm not sure how that might change the requirements. 2. If you needed to make payments they would only be on the balance of estimated taxes. The 24% that was withheld would represent 64.9% of your likely tax bill, so the 50% for the first two quarters has already been withheld, along with 14.9% of the 25% due the third quarter. That would leave 10.1% still due for the third quarter and the full 25% due the fourth quarter. That would leave you with most of the money until September 15th.

Number three is the important one. The $604 million spent on tickets would be deductible. Your winnings of $1.206 billion (that's the 904 cash value plus the small prizes you'd win plus the 205 additional cash value from the 302 million tickets you bought) less the fat deduction would leave you with $602 million in taxable income. The resulting tax bill of $222.74 million would leave you with a modest balance of $43.42 million due as the 4th quarter payment on January 15th (almost a full year after collecting it). If there was a 2nd winner you'd collect $554.5 million from the jackpot plus almost $97 million in smaller prizes for a total of $651 million. You'd have to wait for the tax refund, but you'd have a profit of about $47 million. Less whatever you paid somebody to sort and cash in perhaps 15 million tickets. Of course there's a fair chance of 3 or more winners, which would definitely mean a significant loss.

"minds of the MM decided not to increase the jackpot"

After 3 days with a website listing a jackpot of $1.60 Billion they probably thought that $1.615 Billion wouldn't really be that exciting.

 

"I'd hate to think of how many tickets would need to be sold before they were close to running out of possible combinations."

How close? For MM selling 1 billion tickets selected randomly would use 96.33% of combinations. It takes 1,394 billion random tickets to use 99%. If we still had the usual 70 to 80% QP and 20 to 30% self picks we'd probably see 1 or 2% of combinations freed up. All the people playing birthday numbers, etc could mean that it takes 3 billion or more to really use at least 99% of combinations if that QP/SP ratio held. If sales ever got much past a billion tickets I imagine QP's would account for 90% or more, so as a SWAG I'll say 1.5 billion for 99%. FWIW I was in a store this afternoon and saw a whopping 4 or 5 tickets sold. The people all seemed like they might be new or infrequent players and the tickets were all QP.

Revolution777's avatarRevolution777

I vote for KYFloyd to be the Lottery Post member of the year!  What do you do for a living?

lowellm

"How close? For MM selling 1 billion tickets selected randomly would use 96.33% of combinations. It takes 1,394 billion random tickets to use 99%. If we still had the usual 70 to 80% QP and 20 to 30% self picks we'd probably see 1 or 2% of combinations freed up. All the people playing birthday numbers, etc could mean that it takes 3 billion or more to really use at least 99% of combinations if that QP/SP ratio held. If sales ever got much past a billion tickets I imagine QP's would account for 90% or more, so as a SWAG I'll say 1.5 billion for 99%. FWIW I was in a store this afternoon and saw a whopping 4 or 5 tickets sold. The people all seemed like they might be new or infrequent players and the tickets were all QP."

That is truly mind-blowing! It's a wonder that every jackpot doesn't roll up to a billion plus (or that we even bother at all, lol!) I guess those are the only two sides to this coin, right?

Around these parts, everyone was a-buzz about the $1B jackpot last drawing, folks who had never bought a ticket in their life were backing up the truck and loading up... But since it rolled I haven't heard a peep from anyone around here.

Revolution777's avatarRevolution777

How many tickets did everybody buy?  I got 13

dognabit

6-7, but I also get the multiplier.

MsBee18

Quote: Originally posted by Revolution777 on Oct 23, 2018

How many tickets did everybody buy?  I got 13

I bought 4 tickets. Draw in less than two minutes.

Power8411

It's why I'm already on the MM site...might be hard to get in due to traffic after the draw.

toxicsteve13

28 70 5 62 65 MB5

Six balls

Per ABC: 05 - 28 - 62 - 65 - 70 MB 05

CDanaT's avatarCDanaT

Quote: Originally posted by KY Floyd on Oct 23, 2018

"you have a duty to pay quarterly estimated taxes."

Three things. 1. You normally pay estimated taxes based on what you owed the previous year. Based on that you wouldn't need to make big payments because of your higher income. Of course having your income go up my several hundred million isn't something most of us deal with, and I'm not sure how that might change the requirements. 2. If you needed to make payments they would only be on the balance of estimated taxes. The 24% that was withheld would represent 64.9% of your likely tax bill, so the 50% for the first two quarters has already been withheld, along with 14.9% of the 25% due the third quarter. That would leave 10.1% still due for the third quarter and the full 25% due the fourth quarter. That would leave you with most of the money until September 15th.

Number three is the important one. The $604 million spent on tickets would be deductible. Your winnings of $1.206 billion (that's the 904 cash value plus the small prizes you'd win plus the 205 additional cash value from the 302 million tickets you bought) less the fat deduction would leave you with $602 million in taxable income. The resulting tax bill of $222.74 million would leave you with a modest balance of $43.42 million due as the 4th quarter payment on January 15th (almost a full year after collecting it). If there was a 2nd winner you'd collect $554.5 million from the jackpot plus almost $97 million in smaller prizes for a total of $651 million. You'd have to wait for the tax refund, but you'd have a profit of about $47 million. Less whatever you paid somebody to sort and cash in perhaps 15 million tickets. Of course there's a fair chance of 3 or more winners, which would definitely mean a significant loss.

"minds of the MM decided not to increase the jackpot"

After 3 days with a website listing a jackpot of $1.60 Billion they probably thought that $1.615 Billion wouldn't really be that exciting.

 

"I'd hate to think of how many tickets would need to be sold before they were close to running out of possible combinations."

How close? For MM selling 1 billion tickets selected randomly would use 96.33% of combinations. It takes 1,394 billion random tickets to use 99%. If we still had the usual 70 to 80% QP and 20 to 30% self picks we'd probably see 1 or 2% of combinations freed up. All the people playing birthday numbers, etc could mean that it takes 3 billion or more to really use at least 99% of combinations if that QP/SP ratio held. If sales ever got much past a billion tickets I imagine QP's would account for 90% or more, so as a SWAG I'll say 1.5 billion for 99%. FWIW I was in a store this afternoon and saw a whopping 4 or 5 tickets sold. The people all seemed like they might be new or infrequent players and the tickets were all QP.

Your #2 is the other option that i mentioned but didn't comment on. Thanks for putting that out there for fellow posters to look at. I had to have my source explain that paticular aspect to me 2-3 times before I finally understood. For purpose of easy understanding and recommendation from my source, I used the 4 qtrs of equal payments. Then again, that is why hiring professionals is the best practice.

MsBee18

$2B here we come

Revolution777's avatarRevolution777

Two "5's"...interesting.  I think it has a decent chance to roll!

Power8411

OMG!!....I absolutely don't believe it!! I got no numbers!! LOL!

Kingofearth's avatarKingofearth

Quote: Originally posted by MsBee18 on Oct 23, 2018

$2B here we come

I Agree!

Power8411

Quote: Originally posted by Revolution777 on Oct 23, 2018

Two "5's"...interesting.  I think it has a decent chance to roll!

Good point...or a big chance of having only 1 or maybe 2 winners.

Six balls

I think that if someone wins, it'll definitely be a QP because no one filling out a card is going to go "Yes, the Mega and the lowest will be the same number, then something in the 20s, and the final three will be in the last 10 numbers possible. This is a good choice."

Kingofearth's avatarKingofearth

Quote: Originally posted by Power8411 on Oct 23, 2018

Good point...or a big chance of having only 1 or maybe 2 winners.

It has both a 5 White and 5 Megaball, 3 numbers over 60 and the 70 which is rarely picked, especially given it came out in 2 of the previous 3 draws. I'll be extremely shocked if it doesn't roll.

Kyle7824's avatarKyle7824

No one got that...

5/5 left and right side

toxicsteve13

Delaware lottery has it rolling....

CDanaT's avatarCDanaT

well...... 4-28-31-33-70  MB 17  doesn't do me much good ....Good luck to the rest of our fellow posters

Power8411

Auto-pick might just do that. And there are those who do pick the PB number the same as the 1st drawn for the reasons already outlined. I've got a feeling between 1 to 4 winners based on this.

Kyle7824's avatarKyle7824

Quote: Originally posted by Power8411 on Oct 23, 2018

Auto-pick might just do that. And there are those who do pick the PB number the same as the 1st drawn for the reasons already outlined. I've got a feeling between 1 to 4 winners based on this.

No, them double repeats are going to hurt some hopeful tickets...

Power8411

Quote: Originally posted by Kyle7824 on Oct 23, 2018

No, them double repeats are going to hurt some hopeful tickets...

Of course...in fact a hell of a lot. Except maybe not for a lucky few. We will see. $2 billion if it does...WOW!

Revolution777's avatarRevolution777

I give it a 50/50 chance to roll to $2B !!  Embarassed

Kyle7824's avatarKyle7824

Great time to swoop in on Powerball haha :)

toxicsteve13

California Lottery says no winners from their state

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