Friday Night Mega Millions Drawing at $500 million!
163 replies, posted
Source: [url]http://www.hlntv.com/article/2012/03/28/raw-476-million-dollar-lottery?hpt=hp_bn15[/url]
[quote]
Seems like a dollar doesn’t go very far these days. It’ll get you somewhere between 1/3 and 1/4 of a gallon of gas or milk. You could pick any item from your favorite fast-food chain’s $1 menu or the nearest vending machine, but not much else.
But this week, people in 42 states, the District of Columbia and the U.S. Virgin Islands have the chance to make a dollar go very, very far.
No one picked all six winning numbers in Tuesday night’s Mega Millions lottery drawing. So, the jackpot for the next drawing on Friday night sits at an estimated $500 million -- shattering the previous record of $390 million set in 2007. That prize was split by two winners, one in New Jersey and one in Georgia.
Once you plunk down your dollar and pick your numbers, luck takes over. In order to hit the jackpot, you have to match six numbers. The first five each are drawn from a pot containing 56 numbered balls. The sixth, known as the Mega Ball, is drawn from a pot containing 46 numbered balls.
It shouldn’t come as a surprise that the odds of winning are long -- 176 million to one. This may sound cliché, but it really is far more likely you’ll be struck by lightning. (Don’t tell that to the girl who was struck by lightning and won the lottery, albeit only $20.)
On the plus side, you don’t have to hit all six numbers to win a lot of money. In Tuesday night’s drawing, 47 players got five numbers right. Those tickets each are worth at least $250,000.
So, what if you hit the $500 million jackpot and yours is the only winning ticket? You could take the instant lump-sum payout, which would be around $359 million. Or, you could select the annuity option, in which case you’d get your winnings in 26 annual payments.
The merits of essentially throwing a dollar (or more, if you buy multiple tickets) out the window can be debated. But one thing’s for sure: You can’t win if you don’t play.
[/quote]
This has been in the news a lot lately. Never really played the lottery before but I'm strongly considering dropping $20 into this. What would you guys do with that much money? I'd move the fuck out of America and not work for the rest of my life.
Is the 500 million before or after you pay taxes for it?
Big difference.
I'd leave England.
[QUOTE=Sir Whoopsalot;35344137]Is the 500 million before or after you pay taxes for it?
Big difference.[/QUOTE]
Before. If you take it in a lump sum it's like $390 million. Otherwise you get 26 monthly payments.
It's actually at $540 million now. The largest jackpot in world history.
I'd get an accountant and a lawyer, put money into trust funds for my kids down the road, and divide the rest between a high interest account and some offshore ones (on the hope that won't add to the resulting hike in my taxes.) I'd be wanting to make 300-400k a year from interest alone, the rest I'd probably use on philanthropic work.
Tempting.
I got my ticket yesterday. First time I've played the lottery.
I didn't really see the point in spending anything more then a dollar, since the odds of winning are infinitely small no matter how many tickets you buy; as long as it's not zero I'm content.
I'm going by the liquor store and buying $20-$40 in tickets. Gotta come up with variations of six numbers now.
[QUOTE=faze;35344156]Before. If you take it in a lump sum it's like $390 million. Otherwise you get 26 monthly payments.
It's actually at $540 million now. The largest jackpot in world history.[/QUOTE]
It just might not be because of inflation.
[QUOTE=Conscript;35344240]It just might not be because of inflation.[/QUOTE]
It's because people keep buying lottery tickets.
[QUOTE=Conscript;35344240]It just might not be because of inflation.[/QUOTE]
do you know how the lottery works?
I'd more likely die from a meteor hitting me on a walk to the lottery store than I would be to win the lottery.
You are 18 to 120 times more likely to die from flesh eating bacteria than winning the lottery.
Good luck!
[QUOTE=Scot;35344374]You are 18 to 120 times more likely to die from flesh eating bacteria than winning the lottery.[/QUOTE]
Yet whoever wins is going to be glad they bought a ticket
I'd save my extended family from poverty and bring them here to the United States of America.
I would proceed to buy them mansions and give them a good future.
I will also finally be able to go to a university for a degree.
If God willing, it doesn't matter to me either way
I think we already passed that here in europe with EuroMillions or whatever.
Or maybe not... I think it reached 100m € only.
[QUOTE=Sir Whoopsalot;35344137]Is the 500 million before or after you pay taxes for it?
Big difference.[/QUOTE]
250,000 goes to tasxes
[QUOTE=sHiBaN;35344409]I'd save my extended family from poverty and bring them here to the United States of America.[/QUOTE]
lol, where would you actually send them?
[QUOTE=Scot;35344374]You are 18 to 120 times more likely to die from flesh eating bacteria than winning the lottery.
Good luck![/QUOTE]
Someones gotta win it, right?
[QUOTE=dass;35344434]I think we already passed that here in europe with EuroMillions or whatever.
Or maybe not... I think it reached 100m € only.[/QUOTE]
This jackpot is the largest in world history, I don't think you passed this yet.
[QUOTE=faze;35344115]Source: [url]http://www.hlntv.com/article/2012/03/28/raw-476-million-dollar-lottery?hpt=hp_bn15[/url]
This has been in the news a lot lately. Never really played the lottery before but I'm strongly considering dropping $20 into this. What would you guys do with that much money? I'd move the fuck out of America and not work for the rest of my life.
Interesting perspective on this... There are currently just over 311 million people in the USA...if they equally divvy up the jackpot and just give everyone money, [B]EVERY SINGLE PERSON IN AMERICA would get $1.7 million.[/B][/QUOTE]
Your math is off.
Oh man, imagine all the PCP and '64 impalas I could buy with this
[QUOTE=Sickle;35344688]Your math is off.[/QUOTE]
540 000 000 / 311 591 917 = 1.73303597
Not it isn't.
[QUOTE=Canuhearme?;35344162]I'd get an accountant and a lawyer, put money into trust funds for my kids down the road, and divide the rest between a high interest account and some offshore ones (on the hope that won't add to the resulting hike in my taxes.) I'd be wanting to make 300-400k a year from interest alone, the rest I'd probably use on philanthropic work.[/QUOTE]
If you put it all in an interest account you would make well over a million off interest alone each year.
[QUOTE=faze;35344750]540 000 000 / 311 591 917 = 1.73303597
Not it isn't.[/QUOTE]It's 1.7 dollars you twit. How did you get millions out of that?
[QUOTE=faze;35344750]540 000 000 / 311 591 917 = 1.73303597
Not it isn't.[/QUOTE]
One dollar each
[QUOTE=ExplodingGuy;35344815]It's 1.7 dollars you twit. How did you get millions out of that?[/QUOTE]
An hour of sleep and too much caffeine, sue me.
Texas has no state lottery tax, so all my fellow texans would get more money than than the rest of the country!
[QUOTE=faze;35344829]An hour of sleep and too much caffeine, sue me.[/QUOTE]You'll recieve your summons in a week.
I want to use all that money and make it into a house, and live in it.
Sorry, you need to Log In to post a reply to this thread.