USA Powerball lottery up to 1.3 billion

Discussion in 'General Chat' started by AntiPimpage, Jan 10, 2016.

  1. If anyone on here wins. They should hand out a million to every regular on here
     
  2. 5 million out of a billion is basically nothing, too.
     
  3. I bought a couple tickets for the last drawing in our office pool, mainly as cheap insurance against being the one guy at the office who won that didn't put anything in. Also, it was fodder to think of all the ways I would troll my family and friends with the winnings

    I will say that if we win this next one, I will accept requests for up to $5k for something for most of you guys. And I will fulfill those request based on how much I like you or how cool the idea is

    So if luke found some place that sells for real carbon fiber swords for $4100, I'd totally buy them for him
     
  4. I love to think of the math behind cornering the lottery when it gets this ridiculous.
     
  5. The odds are 292 million to 1.

    1.3 billion jackpot is really $868 million lump sum value. After 35% taxes, you can expect around $564 million to be actually paid out to you.

    $564 million / 292 million = $1.93

    Each chance at the jackpot sells for $2.

    Even at $1.3 billion a lotto ticket still has a value of negative 7 cents based on the odds. Not bad for the lotto, though, it's usually much lower than that.
     
  6. That's a shame about lotto winnings in America - being taxed on it.
     
  7. Just thinking about lottery winners and why some choose to go public about it; having pictures taken with a novelty cheque and whatever.

    I would want it to be as secret as possible.
     
  8. brilliant
     
  9. woah woah woah.... someone on sc.net can actually do math?
     
  10. Or read an article about it, anyway.

    35% is low though, top marginal rate is 39.6%, then you'll have 5-10% state tax as well (unless you live in one of the three without a state income tax).

    Still, paying out a half billion in taxes would be a wonderful problem to have.
     
  11. I would imagine that, depending on state, etc, that occasionally some level of public disclosure would be mandatory for higher payouts.
     
  12. I didn't read any articles, nor do I know the appropriate tax rate, 35% was a guess. I'm imagining many states have special tax rates on lotto winnings, so who knows what a realistic tax rate is. I just did basic odds-based math... it's the same way a gambler would evaluate the true value of any bet.
     
  13. Are lotteries not taxed in the UK? Or the advertised amount is the post-tax amount?

    We have one scratch-off game here in NY called "Tax Free Million". The jackpot is actually $1.333 million or something, such that after taxes are paid there is $1 million remaining.
     
  14. I think its a requirement that you pose for a picture and accept it publicly

    kinda shitty
    I def wouldnt tell many people, and not just cuz I dont want people constantly harassing me. I think I might be slightly ashamed at my unearned fortune
    but Id still like being rich i think

     
  15. is nothing safe from your unqiue brand of edgy, pushing-the-envelope observational humour
     
  16. I should cross the border and buy some tickets, you never know.

    But if I do win, all the members that were nice to me will get a brand spanking new 2016 Chevrolet Corvette Stingray.
     
  17. hey guys how much do you think i can get for a lightly used one owner 2016 corvette stingray
     
  18. I bought my tickets today. mongolian rally is definately an all sc.net member thing if its won
     
  19. Since you're not nice, no Corvette for you. <A BORDER="0" HREF="http://www.supercars.net/PitLane?displayFAQ=y"><IMG BORDER="0" SRC="pitlane/emoticons/tongue.gif"></A>
     
  20. if I win I'd give a shitlaod of cars to members over here
    and a mustang to v8 !


    Unfortunately we're all poor
     
  21. Jackpot is up to $1.5 billion, which changes my math a little bit, the value of a ticket is now $2.07, finally higher than the $2 it's sold for.
     
  22. 1.5B$USD is 2.13B$CAD
     
  23. For TSCMs Mongolian Rally, I would wish option of joining as a scout on a new Honda Africa Twin.

    If I was considered nice, Id opt for a month cruising North American roads for the value of said Corvette. I could never afford keeping such a car.
     
  24. a billion dollars lol..... *BUY ALL THE SHIT*
     

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