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

[Miya]

if i won the powerball i would of streamed 24 hours straight of me playing ogre magi (character based purely on RNG) in dota 2 but that will never happen now

shit sux, got 19$ tho

[dark-vivec]

I have 2 dollars that I didn't spend on a ticket. I dunno what to do with all of this.

[Snap]

[media]https://twitter.com/ThisguystheIimt/status/687513984489156608[/media]

[Mitsuma]

There are now a ton of fake twitter accounts that promise 1000$ if you retweet and follow.
[url]https://twitter.com/search?q=thisguysthelimit&src=typd[/url]

As well as a couple of other people with most likely photoshopped tickets. Not even sure if that guy is really 100% legit.

[Sleepy feet]

Glad I'm not the only one who doesn't believe he's legit. Looks like he's just using it as fuel for his social media accounts

[Missing User]

[QUOTE=Mitsuma;49527294]There are now a ton of fake twitter accounts that promise 1000$ if you retweet and follow.
[url]https://twitter.com/search?q=thisguysthelimit&src=typd[/url]

As well as a couple of other people with most likely photoshopped tickets. Not even sure if that guy is really 100% legit.[/QUOTE]

A quick check on how to tell if its fake: Is it posted all over twitter/facebook? Then its fake.

[Zephyrs]

[QUOTE=No Party Hats;49527101]Ye, you end up losing a dickton of munny going for cash[/QUOTE]

If properly invested you will still end up with far more after 30 years.

[TurtleeyFP]

[QUOTE=Sleepy Head;49527422]Glad I'm not the only one who doesn't believe he's legit. Looks like he's just using it as fuel for his social media accounts[/QUOTE]

It is a little weird that the winner is a guy with a big social media presence.
Also confirmed skater satan:
[t]http://i.imgur.com/SmUuDzH.png[/t]

[Zethin]

ABC is reporting [URL="http://abcnews.go.com/US/powerball-lottery-drawing-record-15b-jackpot-tonight/story?id=36275166"]3 winning tickets in California, Tennessee, and Florida[/URL]

UMP is confirming that some hedge fund manager in Chino Hills, California won. [URL="http://unitedmediapublishing.com/27-year-old-hedge-fund-manager-wins-powerball-jackpot/"]Apparently they got an interview with him[/URL] (not UMP interviewing him, but the winner talking to the Lotto and ABC)

[Systema]

[media]https://twitter.com/Night_0f_Fire/status/687528966652084224[/media]
found our winner tbh

[Massaki]

Sam deserves it more than anyone, now he can make Oscar winning Sundance quality Vids.

[blah2]

Confirmed fake. On his facebook: [url]https://www.facebook.com/ssam.hyde/[/url]

[Massaki]

[QUOTE=blah2;49528155]Confirmed fake. On his facebook: [url]https://www.facebook.com/ssam.hyde/[/url][/QUOTE]

did you really research into something Sam Hyde did.

[Headhumpy]

[QUOTE=No Party Hats;49527101]Ye, you end up losing a dickton of munny going for cash[/QUOTE]

No. You lose more going for annuity when you account for the opportunity cost.

Using [url="https://www.usamega.com/powerball-jackpot.asp?d=1/13/2016"]this[/url] as a reference, assuming all winnings are immediately invested in an S&P 500 ETF that provides 9% annual returns, the total sum at the end of 30 years is as follows:

Annuity payments: $4,005,050,218
Lump sum: $8,978,505,808

Even if you did not invest any of it, you can use a simple DCF model (with the rate of inflation of 3.2% as the discount rate) to obtain the NPV of all the cash flows of the annuity payment. If you did that, you'd find that the NPV of the annuity payments is $719,910,009, which is actually less than the lump sum of $737,625,000.

Spreadsheet as follows:
[img]https://i.imgur.com/REmBlrs.png[/img]

If you're not an idiot, take the lump sum.

[Snoberry Tea]

I want to cry

[editline]14th January 2016[/editline]

[QUOTE=Wii60;49527095]if he does annuity he gets 30mil/year

i would go with that if i won. never run out of money.[/QUOTE]

Taking the annual payments is stupid and you should never consider that option. You lose twice as much in tax over the 30 years vs the lump sum, if any new taxes are introduced between you winning and the 30th year you lose even more money, if anything happens to the lotto system and you stop getting payments you're fucked, and you don't have the entire sum to invest at once.

A few pages back someone did some calculations

1) After 30 years, the annual payments will lose value due to inflation and be worth only $980m ($50m more than lump sum)
2) After 30 years, taking the lump sum payment and investing it could net you over 3x the money as the annual payments if you'd done the same thing

[editline]14th January 2016[/editline]

[QUOTE=Wii60;49527131]depends on state

in florida is worth it to go that route than doing it in lump sum[/QUOTE]

Goddamnit no [i]it is never worth it to take payments over lump sum use your brain and stop being stupid[/i]

[editline]14th January 2016[/editline]

[QUOTE=Snapster;49527289][media]https://twitter.com/ThisguystheIimt/status/687513984489156608[/media][/QUOTE]

Did this fucker already have a ton of money?

[ultra_bright]

[QUOTE=ballads;49527106]I hate it when people do this shit because they didn't win.[/QUOTE]

I hate it when someone wins a few hundred million dollars and then flashes the money in peoples faces over instagram only to end up broke in 5 years because theyre an idiot.

Such a waste.

[Headhumpy]

[QUOTE=ultra_bright;49528902]I hate it when someone wins a few hundred million dollars and then flashes the money in peoples faces over instagram only to end up broke in 5 years because theyre an idiot.

Such a waste.[/QUOTE]

Redistribution of wealth. I'm not too bothered.

[Toro]

I'd go for the innuity payment because $30,000,000 is still more money than you will know what to do with, once you reach the hundreds of millions, more money doesn't really matter because all you'll be able to do with it is have it sit in a bank collecting interest, or giving it to charities.

[Pyronaught]

3 winning tickets apparently. California, Florida, and Tennessee. The one in TN is from Munford, the rival town of my hometown. I'm sure to hear about this, maybe I can finally find my long lost cousin...

[fpro]

I won a paper ticket! :goodjob:

[C O Y O T E]

[QUOTE=D3vils Buddy;49477298]Holy shit, That's horrific how much of the winnings goes to tax![/QUOTE]

In Sweden lottery tickets aren't taxed as they're filed as gifts. :^)

[agentfazexx]

[QUOTE=Coyoteze;49530300]In Sweden lottery tickets aren't taxed as they're filed as gifts. :^)[/QUOTE]

In the US, everything is taxed.

[url]https://en.wikipedia.org/wiki/Rain_tax[/url]

Even rain.

[mastfire]

if i win everyone gets a ford f150

[crazycory65]

[QUOTE=agentfazexx;49530313]In the US, everything is taxed.

[url]https://en.wikipedia.org/wiki/Rain_tax[/url]

Even rain.[/QUOTE]

'MURICA :rock:

[agentfazexx]

[QUOTE=crazycory65;49530716]'MURICA :rock:[/QUOTE]

No, more like stupid states run by taxaholic liberal morons like Owemalley. Lucky we have a decent governor now (Larry Hogan) who just introduced $450 million in tax cuts.

[Stormbuster]

[QUOTE=Snoberry Tea;49528410]
Did this fucker already have a ton of money?[/QUOTE]

They probably just put a lot of singles in between the two Benjamins, he likely faced the open side away for a reason.

[Boaraes]

[QUOTE=agentfazexx;49530741]No, more like stupid states run by taxaholic liberal morons like Owemalley. Lucky we have a decent governor now (Larry Hogan) who just introduced $450 million in tax cuts.[/QUOTE]

man, it's always those damn liberals!!!

[Atsuimono]

bought a ticket
hope i get $4

[Thegreen]

[QUOTE=Shaohs;49531321]bought a ticket
hope i get $4[/QUOTE]

I'm sorry but you missed out

[agentfazexx]

[QUOTE=Boaraes;49531037]man, it's always those damn liberals!!![/QUOTE]

Well, for taxes, yes it is.