245 Million Powerball Jackpot

[megamania]

How does 245M turn into 40M? I understand that taxes take about half, but that still leaves 122M.

With any other game, if someone said you'd only get 1/4 to 1/2 the actual announced prize money, people would sue. Only the government can get away with blatant false advertising.

Quasqueton

Actually at that monetary value they take out more.

By taking it as a lump sum, you get 1/2 (122 mill) which is then taxed.

Other wise take 245 and divid by 25 (25 years) and then tax it.

 

[megamania]

The wife and I discussed what to do somewhat. We would pay off the bills first then take a year to decide. See what the earnings of interest would be and so on. Then tear down the existing house and rebuild it.

....and yeah- game room ,,,,,bigger than what I have now.


Possibly create a DnD company for games also. with 4e announced....I'm not so sure about that thought anymore.....

 

[sydbar]

i sold powerball tickets, and lump sum is about 55% of total, then the government takes their cut. lump sum and annuity are 2 different totals, they advertise only the annuity total, but any clerk that sells powerball tickets should be able to tell you what the lump sum amount is, at least when i worked at 7/11 we could/

 

[Krug]

It's still going to be an indecent amount...

 

[drothgery]

Bah. It's illogical buy a lottery ticket unless the average value of a ticket is over the price of a ticket. If you spend your $1 on a can of soda and a candy bar, you're at least getting something out of the deal...

 

[Umbran]

Bah. It's illogical buy a lottery ticket unless the average value of a ticket is over the price of a ticket.

Well, given the variable number of tickets sold, it is impossible to know ahead of time the average value of the ticket.

If you spend your $1 on a can of soda and a candy bar, you're at least getting something out of the deal...

My mother-in-law actually has a really great way of looking at it. That $1 is buying the right to dream big dreams for a few days. If you view it like that, it is cheap entertainment at its best.

I, unfortunately, live in Massachusetts, and would have to add the gas I'd use to cross a state line to buy a ticket to the cost of dreaming, making it somewhat less worth it. But otherwise, I'd spend $1 for a ticket for sure.

 

[Piratecat]

Bah. It's illogical buy a lottery ticket unless the average value of a ticket is over the price of a ticket. If you spend your $1 on a can of soda and a candy bar, you're at least getting something out of the deal...

You're buying hope.

 

[cignus_pfaccari]

My mother-in-law actually has a really great way of looking at it. That $1 is buying the right to dream big dreams for a few days. If you view it like that, it is cheap entertainment at its best.

Exactly. I think of it either as my daydreaming license, or (negatively) as my idiot tax.

This, of course, leaves out the fact that a lot of lottery winners are terribly unhappy after they've won. But I'll do better when I win, I just know it!

Brad

 

[megamania]

It's still going to be an indecent amount...

Its a beautiful thought however.....

The good that can come from it alone.....

 

[megamania]

Bah. It's illogical buy a lottery ticket unless the average value of a ticket is over the price of a ticket. If you spend your $1 on a can of soda and a candy bar, you're at least getting something out of the deal...

13 TRILLION to one........ Okay so its a tax for people bad at math.....