Powerball Jackpot Reaches $1.5 Billion, Largest Lottery in U.S. History - Polidicks

[quote]A Powerball drawing on Wednesday night yielded no winner to collect the more than $500 million prize. The winning numbers were 2, 11, 47, 62, 63 with a Powerball of 17. Now, that windfall will be rolled into another drawing on Saturday night—one that will be the largest in U.S. history with an estimated $675 million up for grabs, according to ABC. Previously, the largest lottery winnings stood at $656 million—a sum won by three tickets through the Mega Millions jackpot in March 2012. The largest Powerball windfall until Saturday’s was $590.5 million, which a Florida woman won in May 2013.[/quote] [url]http://fortune.com/2016/01/07/powerball-record-prize/[/url] Estimated $413.1 million lump-sum pre-tax if it doesn't go past $675 million, just over $300 million post-tax. Nearly $17 million a year post-tax if you take it out yearly. If it rolls over you have a billion for a jackpot, crazy stuff. Jackpot is now estimated to be $1.3 billion.

if only I had the chances of winning :v:

I actually might get a ticket or two this time.

Holy shit I won

buying a ticket is tempting

[media]https://www.youtube.com/watch?v=UgWeTkrlnJ0&feature=youtu.be[/media]

Funny how gambling is illegal most places, except for when the government does it.

I want to buy a ticket, but I know I won't win Also taxes

honestly buying 1 ticket is a good idea but more than that is just stupid

My dad always gets 4 tickets whenever its over 400 million. Let him know that if he wins I require a finders fee of 10%

[QUOTE=agentfazexx;49477172]I actually might get a ticket or two this time.[/QUOTE] [QUOTE]buying a ticket is tempting[/QUOTE] Don't really see what sense this makes. If it were 50 million or 10 million or even 1 million post-tax you'd be set for life anyway. You shouldn't be buying a ticket when the miniscule chance of winning is even [I]smaller[/I] because of the news coverage. I'd rather get one when there's less people playing for a higher chance to win a smaller fortune. Of course if you're just doing it for fun because of the record that's another story.

[QUOTE=Mort Stroodle;49477247]Don't really see what sense this makes. If it were 50 million or 10 million or even 1 million post-tax you'd be set for life anyway. You shouldn't be buying a ticket when the miniscule chance of winning is even [I]smaller[/I] because of the news coverage. I'd rather get one when there's less people playing for a higher chance to win a smaller fortune. Of course if you're just doing it for fun because of the record that's another story.[/QUOTE] 1 million set for life? You have a damn cheap cost of living.

[QUOTE=Mort Stroodle;49477247]Don't really see what sense this makes. If it were 50 million or 10 million or even 1 million post-tax you'd be set for life anyway. You shouldn't be buying a ticket when the miniscule chance of winning is even [I]smaller[/I] because of the news coverage. I'd rather get one when there's less people playing for a higher chance to win a smaller fortune. Of course if you're just doing it for fun because of the record that's another story.[/QUOTE] You still have the same chance of winning. More news coverage means that there is more money that [I]could[/I] be won, but there can be more people winning so whatever prize level you win might be lessened.

i just want to see it go over a billion and on the off chance i do win it would be neat

If anybody won that jackpot they'd be pretty much set for life on the interest alone.

[QUOTE=sgman91;49477232]Funny how gambling is illegal most places, except for when the government does it.[/QUOTE] It's all about the taxing. Same thing as weed. The government can't tax it 100%, so they deem it ilegal and awful for you.

Holy shit, That's horrific how much of the winnings goes to tax!

If I could win money like that, I would set up my family for life.

[QUOTE=D3vils Buddy;49477298]Holy shit, That's horrific how much of the winnings goes to tax![/QUOTE] I was actually surprised at first because lottery winnings here are tax-exempt and I thought that was a norm across the world. Well the lump sum is tax-exempt, but any interest income derived from that lump sum is taxable.

So if you win how do you claim your money without being murdered?

[QUOTE=Mad.Hatter;49477386]So if you win how do you claim your money without being murdered?[/QUOTE] Quietly. You can choose to remain anonymous when claiming the money, but afterwards it's kind of up to you.

[QUOTE=Antdawg;49477334]I was actually surprised at first because lottery winnings here are tax-exempt and I thought that was a norm across the world. Well the lump sum is tax-exempt, but any interest income derived from that lump sum is taxable.[/QUOTE] Lottery winnings have been always taxable locally, except they're illegal in certain states. For instance, Punjab, New Delhi, and so on (most places in the north, and northeast even) have legally run state lotteries, but in Tamil Nadu, where I live, lotteries have been banned for several years now thanks to an order issued by the government. Something about people getting obsessed over them and spending their life savings on lottery tickets, but the real reason was the mushrooming of underground ticket sales and it being a convenient avenue of disposing of illegal money.

This is all my co-workers talk about. They are big lottery/scratch-off people.

[QUOTE=Mad.Hatter;49477386]So if you win how do you claim your money without being murdered?[/QUOTE] have a lawyer claim it for you don't tell anyone you've won the jackpot hire a financial advisor and an accountant

[QUOTE=Zonesylvania;49477293]If anybody won that jackpot they'd be pretty much set for life on the interest alone.[/QUOTE] I'd say your Dynasty would be set if you invested it.

Lotteries like this are stupid, most of the time either one person wins or nobody does. More lotteries need to be like the annual Spanish lottery that distributes 2.2 billion euros between thousands of people since you're far far more likely to win. With this lottery you have a 1 in 292 million chance of winning. In the Spanish lottery you have a 1 in 100,000 chance. You are almost 3000x more likely to win.

[QUOTE=Mad.Hatter;49477386]So if you win how do you claim your money without being murdered?[/QUOTE] There are some lottos that provide security if the need arises. Not too sure about powerball. The first two things I would buy would be a highly reputable lawyer and a security team (if not provided) if I ever won something like this. Oh and quit my job, move away, and change my name and phone number. I wouldn't exists anymore

[QUOTE=Mort Stroodle;49477247]Don't really see what sense this makes. If it were 50 million or 10 million or even 1 million post-tax you'd be set for life anyway. You shouldn't be buying a ticket when the miniscule chance of winning is even [I]smaller[/I] because of the news coverage. I'd rather get one when there's less people playing for a higher chance to win a smaller fortune. Of course if you're just doing it for fun because of the record that's another story.[/QUOTE] You do realize that the lottery isn't a raffle right? [editline]7th January 2016[/editline] [QUOTE=l33tkill;49477460]There are some lottos that provide security if the need arises. Not too sure about powerball. The first two things I would buy would be a highly reputable lawyer and a security team (if not provided) if I ever won something like this. Oh and quit my job, move away, and change my name and phone number. I wouldn't exists anymore[/QUOTE] What about all of your friends and family?

[QUOTE=Zonesylvania;49477293]If anybody won that jackpot they'd be pretty much set for life on the interest alone.[/QUOTE] If you wanted to live off interest about 2 million would be enough You'd get around 90 grand monthly.

Its at 700 million now.