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MegaMillions

Anyone get close?

I had 2 of the numbers.

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

I got 4 numbers left in office drawer.

No winner yet, gonna buy it again for Friday’s draw.

supposedly they printed two winning tickets

one went to washington and the other to idaho

yea. looks like it. oh well.

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

Please don’t support these gambling enterprises masquerading as governments. The lottery is a complete rip-off and they shouldn’t even exist. If for-profit enterprises ran their business like the lotteries do (at least in Calif), they would be run out of town or in jail.

You have a point. However, I would still rather have people pay a “voluntary tax” than be taxed myself. It’s actually a pretty good scheme for the government. They pay off less than what they collect and then tax the winners further.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

goes to eleven Wrote:
——————————————————-
> The lottery is a
> complete rip-off and they shouldn’t even exist.
> If for-profit enterprises ran their business like
> the lotteries do (at least in Calif), they would
> be run out of town or in jail.

The same can be said about Casinos.

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"USA troop is a public goods for American and World" ---Lord qqqbee, Sep 1, 2010

Casinos are illegal in most places. That’s why places like Las Vegas get many tourists. Also Indians.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

One year the state of California was selling “scratchers” and advertising that you can win the jackpot of x million dollars. Unfortunately, that grand prize had already been claimed. They continued to sell the tix, even when they knew the grand prize was gone.

When called on it, the lottery claimed sovereign immunity. Turns out the the state does have sovereign immunity on false advertising claims. Ugh.

They are allowed to call it a (for instance) $100 million jackpot when it is nowhere near that amount. I’d like to know what is stopping them from using a different discount rate, and call the jackpot $200 million, but you only get $50 million (before taxes) if you take the lump sum. What a crock.

This reminds me of a story where some villager was selling raffle tickets to other villagers. The tickets gave them a chance to win a goat. But it turns out that the goat died. So the guy refunded the ticket price to the winner.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

ohai Wrote:
——————————————————-
> This reminds me of a story where some villager was
> selling raffle tickets to other villagers. The
> tickets gave them a chance to win a goat. But it
> turns out that the goat died. So the guy refunded
> the ticket price to the winner.

Nice. I need to get me a goat.

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Just remember that if you win the lottery you must only use the lottery winner title as an adjective not a noun or common name. Also do not put periods between the letters and do not bold just the designation to give it more prominence.

I had one number each in 3 different tickets.

if you win 300 million is there any way to keep it on the down low?

or is the winner always publicly announced –

with that much cash, the first thing I would do would be to hire legal support and a PR team

“Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.” - Gandhi

Being able to say no to friends and family would be the hardest, yet most valuable thing to learn. Obviously don’t be a b*tch and say no to everyone and everything.

Analti_Calte_Equity Wrote:
——————————————————-
> if you win 300 million is there any way to keep it
> on the down low?
>
> or is the winner always publicly announced –
>
>
> with that much cash, the first thing I would do
> would be to hire legal support and a PR team

no, you don’t have much of a choice. you have to do the whole “day with the press” + pictures + galore.

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

The winners would make excellent kidnapping targets.

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"USA troop is a public goods for American and World" ---Lord qqqbee, Sep 1, 2010

iteracom Wrote:
——————————————————-
> Analti_Calte_Equity Wrote:
> ————————————————–
> —–
> > if you win 300 million is there any way to keep
> it
> > on the down low?
> >
> > or is the winner always publicly announced –
> >
> >
> > with that much cash, the first thing I would do
> > would be to hire legal support and a PR team
>
>
> no, you don’t have much of a choice. you have to
> do the whole “day with the press” + pictures +
> galore.

If you wait several months a lot of the excitement dies down and you probably won’t make it onto the national news. Regardless, you should have your legal team set up long before you claim your prize. People who claim big jackpots within a couple of days are setting themselves up to lose it quickly.

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How long can you wait before the ticket is no good?

marcus phoenix Wrote:
——————————————————-
> The winners would make excellent kidnapping
> targets.

No way…go for the close family and friends.

CFAcountry Wrote:
——————————————————-
> How long can you wait before the ticket is no
> good?

I think it’s a year. I don’t have personal experience though :(

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Each winning ticket gets a $190MM 26 year annuity or a lump payment of $81MM. Who would take the cash and who would take the annuity ($7.3 MM per year)?

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Assuming the PV calculation is fair, I would take the annuity. I don’t need $81 million at once. However, there is a chance that sudden great wealth will turn me into a cocaine snorting irresponsible playboy with a propensity to destroy even the most dynastic of fortunes. So, it’s better to have the income distributed over many years.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

^ yea but you’re forgetting the TVM, and the potential returns you can make with the 81MM cash…

I’d take cash, and LIVE IT UP!!

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

.

Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and greatest weakness.

cash it.

models and bottles.

iteracom Wrote:
——————————————————-
>

That’s why I stated the assumption of a fair discount rate. If someone took the time to calculate a fair discount rate, then the conclusion might be different. In any case, I am not that ambitious. Barring some sort of hyperinflation scenario, $7 million a year for 26 years is enough for me to not care about earning even a bit more than that. Maybe other people will be different.

“Visit the Water Cooler forum on Analyst Forum. It is the best forum.”
- Everyone

ohai Wrote:
——————————————————-
> Assuming the PV calculation is fair, I would take
> the annuity. I don’t need $81 million at once.
> However, there is a chance that sudden great
> wealth will turn me into a cocaine snorting
> irresponsible playboy with a propensity to destroy
> even the most dynastic of fortunes. So, it’s
> better to have the income distributed over many
> years.

You want to let the government hang on to your money?? It’s bad enough waiting on a tax refund. Forget that. They’re probably using an egregious discount rate to screw you on the PV calc.

I calc’d the IRR @ 7.7%. Not terrible for having to do absolutely nothing but sit back and enjoy!

With 81 million, you can write your will and donate money after your death but with 7mm if you die, they will stop making payment.

I would take lumpsum anyday

BValGuy Wrote:
——————————————————-
> I calc’d the IRR @ 7.7%. Not terrible for having
> to do absolutely nothing but sit back and enjoy!

I think you get the first payment on day 1, so IRR is closer to 8.7%. A return of 8.7% (or even 7.7%) for doing nothing is pretty hard to beat. I’m sure some of the ballers on here can generate double digit returns every year for 25 years, but I think I’d have to go with the annuity.

I would think any remaining payments due after your death would go to your estate.

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