kkeenan 13 #1 May 20, 2013 I just heard from a very reliable source that a ZHills packer definitely won the big jackpot !! http://www.cnn.com/2013/05/19/us/powerball-jackpot/index.html?hpt=hp_t3 Quote Share this post Link to post Share on other sites
CSpenceFLY 1 #2 May 20, 2013 You're not call CNN a reliable source are you? Quote Share this post Link to post Share on other sites
-Joey- 0 #3 May 21, 2013 So we can expect to see Z-Hills pimped out with jet aircraft and free jumps for all for the next year? Cause I'd definitely head down there...Skydiving is serious business Quote Share this post Link to post Share on other sites
normiss 622 #4 May 21, 2013 The same source that says it's Wally? Quote Share this post Link to post Share on other sites
Krip 2 #5 May 21, 2013 CSpenceFLY You're not call CNN a reliable source are you? I read about it on the internet. So that means it has to be true.Who ever won, it will be good PR for the dz. The dz is Located in the same town as the record lotto biggest payoff. Thats gottaa be a lucky dz.One Jump Wonder Quote Share this post Link to post Share on other sites
TriGirl 268 #6 May 21, 2013 normiss The same source that says it's Wally? But... But... I saw Ann Marie getting interviewed on NBC! It MUST be her! Oh wait, I also saw some video of skydivers, and some people landing, so maybe it was a group ticket purchased by the DZ as a whole! Yeah, that's it! Oh, and the video also showed other people walking into and out of the Publix, and a strange old dude flashing another ticket .... Well, the volume was turned down, as I was getting ready for work, and... and... Oh, I'm so confused!! See the upside, and always wear your parachute! -- Christopher Titus Shut Up & Jump! Quote Share this post Link to post Share on other sites
Amazon 7 #7 May 21, 2013 kkeenanI just heard from a very reliable source that a ZHills packer definitely won the big jackpot !! http://www.cnn.com/2013/05/19/us/powerball-jackpot/index.html?hpt=hp_t3 So is he going to take his money and head back north to Green Bay?? Quote Share this post Link to post Share on other sites
JohnMitchell 14 #8 May 21, 2013 I tell you something. A few folks gonna be packin' for themselves. . . That much money? I couldn't spend it in my time left if I tried. But I'd love the opportunity. Quote Share this post Link to post Share on other sites
kenthediver 0 #9 May 21, 2013 Not jumping there...they just used up ALL their luck for the next millennium! Quote Share this post Link to post Share on other sites
Gene03 0 #10 May 21, 2013 Does this mean he will stop "borrowing" my cigarettes?“The only fool bigger than the person who knows it all is the person who argues with him. Stanislaw Jerzy Lec quotes (Polish writer, poet and satirist 1906-1966) Quote Share this post Link to post Share on other sites
Krip 2 #11 May 21, 2013 Gene03 Does this mean he will stop "borrowing" my cigarettes? Sort of. They will be his cigarettes you'll just be expected to carry the lighter and light the cigs for him. Like a good friend is supposed to.One Jump Wonder Quote Share this post Link to post Share on other sites
BeteNoire 0 #12 May 21, 2013 So, have any of the packers unexpectedly failed to show up for work a few days in a row? Quote Share this post Link to post Share on other sites
ZigZagMarquis 8 #13 May 22, 2013 JohnMitchell That much money? I couldn't spend it in my time left if I tried. But I'd love the opportunity. You'd be surprised how bad off most mega-lottery winners are after just a few years. Quote Share this post Link to post Share on other sites
AggieDave 6 #14 May 22, 2013 ZigZagMarquis *** That much money? I couldn't spend it in my time left if I tried. But I'd love the opportunity. You'd be surprised how bad off most mega-lottery winners are after just a few years. No I wouldn't, I've seen the kind of people who play the lotto!--"When I die, may I be surrounded by scattered chrome and burning gasoline." Quote Share this post Link to post Share on other sites
JohnMitchell 14 #15 May 22, 2013 AggieDave ****** That much money? I couldn't spend it in my time left if I tried. But I'd love the opportunity. You'd be surprised how bad off most mega-lottery winners are after just a few years. No I wouldn't, I've seen the kind of people who play the lotto! You're right. Although I buy a ticket from time to time, in our family we call the lottery "a tax on people who are bad at math."Sadly, too many people have few money/life skills. It slips thru their fingers faster than anyone could imagine. In our state I have seen some smart winners, though, that hire an investor (hopefully honest) to give them a sustainable income for the rest of their life. Damn, if I hit that I'd give at least half to Lupus Research right off the bat. Quote Share this post Link to post Share on other sites
BeteNoire 0 #16 May 22, 2013 AggieDave***You'd be surprised how bad off most mega-lottery winners are after just a few years. No I wouldn't, I've seen the kind of people who play the lotto! They seem like a pretty normal cross-section of society to me: http://www.ohiolottery.com/Winners/See-Stories This kind of reaction seems to be just another kind of snobbery, where non-lotto players feel they're superior to lotto players. Just like some beer drinkers insist that their brand is superior to what others drink. The odds of winning for the players are certainly much better than the odds of the non-players, which are zip! It's a free country, and if it's worth it to them, then they don't deserve to be criticized for it. Quote Share this post Link to post Share on other sites
flyhi 24 #17 May 22, 2013 Quotea tax on people who are bad at math Actually, I think the math supports playing the lottery at this level, if you don't take the lump sum, don't live in a state with a state income tax, only buy one ticket, only have one winner, and assume that 39% is and will be the maximum income tax over the life of the payout. The attached probability chart shows that the probability of winning times the payout comes out to $2.05 while the probability of losing times the cost comes out to a negative $2. The addition results in a positive $.05. If I remember correctly anytime the number is positive, it's not a bad bet. I guess the argument of reducing the value of the payout for inflation can be made, but then again, how much will all your lofty investment (stocks, bonds, mutual funds, signature line of mink-covered canopies) counter that? Quien sabe?Shit happens. And it usually happens because of physics. Quote Share this post Link to post Share on other sites
SethInMI 145 #18 May 22, 2013 flyhiQuotea tax on people who are bad at math Quien sabe? It does not appear that your calculations take into account the fact that as the jackpot increases, more people play, so the odds of multiple winners increase. This reduces the probability x payout value. But yes at some point, playing for large jackpots makes sense.It's flare not flair, brakes not breaks, bridle not bridal, "could NOT care less" not "could care less". Quote Share this post Link to post Share on other sites
wmw999 2,120 #19 May 22, 2013 A friend of mine had the best reason to play the lotto. It was meeting insurance. Every time he was in a particularly boring meeting, that dragged on and on, he'd reach back and touch his wallet, knowing there was an opportunity there to never have to go to another meeting. He hit his own jackpot, though, leaving a job as a programmer to start out as a pilot for Delta when they had a hiring push for over-40 pilots -- he said that was at least as good as winning the lotto Wendy P. There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown) Quote Share this post Link to post Share on other sites
Remster 24 #20 May 22, 2013 Quote if you don't take the lump sum ah... But then you need to take into account the time value of money, which, even at today's interest rates, must be more than a $0.05 drop on $2.Remster Quote Share this post Link to post Share on other sites
-Joey- 0 #21 May 22, 2013 But only having one winner becomes less and less likely as the jackpot goes up. Otherwise, it would be in every billionaire's interest to just buy every number and still make a profit when they win...Skydiving is serious business Quote Share this post Link to post Share on other sites
Southern_Man 0 #22 May 22, 2013 -Joey-But only having one winner becomes less and less likely as the jackpot goes up. Otherwise, it would be in every billionaire's interest to just buy every number and still make a profit when they win... Right. In addition it would be a major management challenge (and likely very expensive) to actually buy up all of the available numbers. The calculation also totally ignores the taxes paid on winnings. My very rough, back to the envelope calculation is that the jackpot would have to be well over 1 billion to make this strategy worth it and probably closer to 2 billion. There are a lot of assumptions in there so nailing down a firm figure is very difficult."What if there were no hypothetical questions?" Quote Share this post Link to post Share on other sites
firemedic 7 #23 May 22, 2013 If it's true, congratulations. One more thing: BEER! LOTS AND LOTS of BEER Quote Share this post Link to post Share on other sites
BeteNoire 0 #24 May 22, 2013 firemedic If it's true, congratulations. One more thing: BEER! LOTS AND LOTS of BEER A lotto winner like that ought to be able to set up an interest bearing account which would provide free beer every weekend in perpetuity. Just sayin... Quote Share this post Link to post Share on other sites
Krip 2 #25 May 22, 2013 JohnMitchell ********* That much money? I couldn't spend it in my time left if I tried. But I'd love the opportunity. You'd be surprised how bad off most mega-lottery winners are after just a few years. No I wouldn't, I've seen the kind of people who play the lotto! You're right. Although I buy a ticket from time to time, in our family we call the lottery "a tax on people who are bad at math."Sadly, too many people have few money/life skills. It slips thru their fingers faster than anyone could imagine. In our state I have seen some smart winners, though, that hire an investor (hopefully honest) to give them a sustainable income for the rest of their life. Damn, if I hit that I'd give at least half to Lupus Research right off the bat. If you win the next time, at your winning tax rate donating some $$$ to a worthy cause like battling lupus might be a good thing in more ways than one. Knew a guy at work was disapointed he had been spending $10 / week on the lotto. This was pre powerball stuff just the usual weekly draw that could increase if there wasn't a winner for a while. The dudes whining because after 10 yrs/ $10/week he was getting discouraged. I couldn't resist and tried to help the guy.I suggested that he consider that if he was spending $20/week his chances of winning would be doubledHe couldn't afford the extra $10/wk I really wanted to help the dude so I looked at his budget and noticed he was paying $40/month for a storage locker.Bingo!!! Told the man hw as throwing $40/month away on a storage locker to keep stuff he really didn't need. I suggested he either sell or gift the crap in his storage locker and use the rental fee to double down. I don't know if he even considered what we discussed. Either way his expenses weren't going to change, come to think about it if he took the hook on getting rid of the storage locker. If/when he continued to whine about never winning I was going to suggest he get rid of the wife to raise some spare change and double down again.Gambling is a real problem for some of the peeps. Part of the profits from the lotto are supposed to help people that wanted help breaking their gambling habit. Don't know if that program ever got funded.I watched people at work calculate how they were going to spend their lotto winnings everytime the winning amount would change. Amazing way to waste time at work and look busy. R. Quote Share this post Link to post Share on other sites
