PowerBall $340 Million


GroundLoop

macrumors 68000
Mar 21, 2003
1,561
35
I never play the lottery, but I bought a few tickets for the last powerball drawing (Saturday) and I will get a few for tonights as well. What the heck, it is a $150M lump sum cash payout. It might just be enough to buy the new dual-dual core powermacs that come out today.

Hickman
 

muzikool

macrumors member
Apr 5, 2005
81
0
I heard earlier today that somewhere around $130 million is what it would take to buy every single combination possible. That way you're a guaranteed winner!
 

solvs

macrumors 603
Jun 25, 2002
5,693
1
LaLaLand, CA
I play the lottery every once and awhile. I still have a couple of tickets I haven't checked. Would be cool if I won something, but I'd feel like an idiot for going weeks without realizing it.
 

emw

macrumors G4
Aug 2, 2004
11,177
0
muzikool said:
I heard earlier today that somewhere around $130 million is what it would take to buy every single combination possible. That way you're a guaranteed winner!
Until 4 other people win as well, then you're out $100 million!
 

Lacero

macrumors 604
Jan 20, 2005
6,639
2
Pick 12 numbers, play them in combinations, thus increasing your chances of winning.
 

xli_ne

macrumors 6502a
Mar 3, 2005
788
0
Center of the Nation
muzikool said:
I heard earlier today that somewhere around $130 million is what it would take to buy every single combination possible. That way you're a guaranteed winner!

So all I have to do is spend 130 million to make the 150-160 million cash out. 20-30 million, sounds good to me. :D
 

Sun Baked

macrumors G5
May 19, 2002
14,874
57
This is the all new Powerball ....

1. higher odds 1 in 146 million :(

2. max $25 million increase for new record jackpots (2nd place winners get the overflow) :(

3. lower initial annuity payments -- payments backloaded (old Powerball $11.3+ million, new system $6 million first payment.) :(

4. less than 50% cash option because of 3 -- you get less than Jack Whittacker did. :(

5. Near the year end -- tax payment due in weeks (no interest on it), if you let it slide to next year. Taxes rates may go up. :(

Yay, all hail the new Powerball ...


They make more, we get less. :(

I'll take it anyways :D
 

emw

macrumors G4
Aug 2, 2004
11,177
0
xli_ne said:
So all I have to do is spend 130 million to make the 150-160 million cash out. 20-30 million, sounds good to me. :D
I'd have to win the lottery to win the lottery.
 

emw

macrumors G4
Aug 2, 2004
11,177
0
Abstract said:
I don't get it. If you win, do you get $340m or $150m???
If you win and say "I want 1 big check today" you get $150m.

If you win and say "go ahead and pay me for 20 years" you get 20 checks that total $340 million.

The logic to taking the one lump sum is that you could invest it more effectively than the lottery does, and therefore end up with more money.

Or you don't trust the gov't to keep paying you for 20 years. ;)
 

Sun Baked

macrumors G5
May 19, 2002
14,874
57
Abstract said:
I don't get it. If you win, do you get $340m or $150m???
Cash payment of around 164 million...

Or an annuity, that starts at $6 million and probably goes up every year til you get $16 million for the last payment.

Basically payments totalling $340 million over 29/30 years.

The backloaded payments will reduce the current cash value, when you take into account interest. Just an accounting game in Multi State Lottery's favor.

But you do get increasing payments every year. ;)
 

Mr. Anderson

Moderator emeritus
Original poster
Nov 1, 2001
22,407
0
VA
emw said:
Can you pick me up a ticket? I'm good for the $1. ;)

I'll go buy you one on my way to Ultimate tonight - if it wins I get half, and you only need to pay me .50 :D

When are you going to be in Warsaw next?

D
 

Mike Teezie

macrumors 68020
Nov 20, 2002
2,205
1
Yeah, I'll be buying a few tickets for the drawing tonight.

If I win, MacRumors won't have to worry about contributions anymore, that's for sure.
 

emw

macrumors G4
Aug 2, 2004
11,177
0
Mr. Anderson said:
I'll go buy you one on my way to Ultimate tonight - if it wins I get half, and you only need to pay me .50 :D
Sounds fair to me.

Mr. Anderson said:
When are you going to be in Warsaw next?
3 hours after we win. ;)

If we don't win, probably a month. November in Warsaw - yippee!
 

emw

macrumors G4
Aug 2, 2004
11,177
0
pseudobrit said:
I like the logic of people who say stuff like "I only play when the jackpot gets really big."

What, $5 million not enough for you? :rolleyes:
HA! I suppose that is a common view of it. For me, "really big" means "more than I'm likely to make the remainder of my working life", which would roughly equate to just about any lottery jackpot these days.
 

Mr. Anderson

Moderator emeritus
Original poster
Nov 1, 2001
22,407
0
VA
emw said:
Sounds fair to me.


3 hours after we win. ;)

If we don't win, probably a month. November in Warsaw - yippee!
I'll let you know later when I get home what the numbers are so you can check them yourself - I'll scan it in and email you the pic or I could always post it here :D

We'll have to go get a beer next time you're in town.

D
 

wordmunger

macrumors 603
Sep 3, 2003
5,125
2
North Carolina
There was a big article today in the Charlotte observer about the ridiculous amounts of money some of the lotto places on the SC border make (no lotto in NC [yet]). One place just outside of Charlotte sells over 6 million tix a year -- even at 7 cents profit/ticket, that's nothing to sneeze at. They interviewed a woman who had just spent $150 on tickets.

Save your money, people. This is just silly.
 

emw

macrumors G4
Aug 2, 2004
11,177
0
Mr. Anderson said:
We'll have to go get a beer next time you're in town.

D
I'll definitely let you know when I'll be there. And thanks for the ticket - baby needs a new pair of PowerBooks. :D
 

Sun Baked

macrumors G5
May 19, 2002
14,874
57
Don't worry if the "Lost" shows numbers happen to strike like they did for the fortune cookie numbers not long ago -- there will probably be around 3000 people splitting the pot with you. :p