Poll of the Day > Don't forget to buy your Mega Millions tickets

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Jen0125
10/17/18 8:04:12 PM
#1:


It's almost $1 billion
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helIy
10/17/18 8:09:51 PM
#2:


i bought 1 billion tickets

all with the same number, so when i win, i'll win what calculator is telling me is 1.e+18
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Jen0125
10/17/18 10:12:55 PM
#3:


That's great. I bought tickets and so did my boyfriend so now we're twice as likely to win
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JOExHIGASHI
10/17/18 10:13:29 PM
#4:


not worth it
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Mead
10/17/18 10:14:28 PM
#5:


JOExHIGASHI posted...
not worth it


It will be for somebody
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helIy
10/17/18 11:22:31 PM
#6:


Jen0125 posted...
That's great. I bought tickets and so did my boyfriend so now we're twice as likely to win

hell yeah
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wolfy42
10/18/18 12:05:17 AM
#7:


I believe the odds to win the mega millions is 1 in 350 mill or so, and you only win 650 mill for winning.

If you go with the instant cash you get 50% of that, so 325 mill then pay taxes on it, so about 175 million.

But that is if ONLY you win, and nobody else.

So basically you still can't come out ahead...statistically, but there is always a tiny chance you could win. It's not a horrid idea to buy a few tickets in this case as the risk to reward ratio is better then most of the time.

You would NOT be better off buying every possible combination though, even if you were the only person to win.
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McSame_as_Bush
10/18/18 4:02:16 AM
#8:


I come from a Powerball family. #powerballonly
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AllstarSniper32
10/18/18 4:42:18 AM
#9:


wolfy42 posted...
If you go with the instant cash you get 50% of that

I know you get less for taking the instant cash, but the last time I read the back of one of the tickets, I swear it didn't say it took 50% of it. Where are you getting this information?

wolfy42 posted...
so about 175 million.

That's still $175 more than I have right now. And that's still more than me, my family, my friends and probably everyone on PotD combined will make in our life times.
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Keebs05
10/18/18 5:19:24 AM
#10:


AllstarSniper32 posted...
wolfy42 posted...
If you go with the instant cash you get 50% of that

I know you get less for taking the instant cash, but the last time I read the back of one of the tickets, I swear it didn't say it took 50% of it. Where are you getting this information?

Between federal and state taxes, it can get pretty damn close to 50%. Lottery winnings are taxed like income. IRS taxes the top income bracket at 39.6%. Then comes local government to get their cut. Most of the 44 states that participate in Powerball will take a piece. The local cut depends on the state.

If you're currently stuck in NY like I am, your winnings are taxed just over 48%.
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wolfy42
10/18/18 5:31:31 AM
#11:


AllstarSniper32 posted...
I know you get less for taking the instant cash, but the last time I read the back of one of the tickets, I swear it didn't say it took 50% of it. Where are you getting this information?


Here is a website that breaks it down, though it doesn't factor in state taxes (and some states have none.....you can't move to them after winning and avoid the taxes though).

Also, it is more, but the point of my post was that your odds are bad, you are better off taking the money and playing roulette 10 times in a row (more likely to come out ahead) then you are playing the jackpot, your odds would still be better to walk away with more money then you spent. If you win 10$ in a row spending only 1$ you walk away with 516$. The limit on the tables is usually $1000, so if you did that with 4$ you could walk away with $2000....and you would have a better chance of that happening..then winning the mega millions (but still not a very large chance at all).

https://www.businessinsider.com/should-you-take-the-annuity-or-the-lump-sum-if-you-win-the-lottery-2013-9
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helIy
10/18/18 5:38:06 AM
#12:


oh no i'd only win 175 million?!?!?!

why does it matter? even if it was just one million, that's still a million fucking dollars
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JixHedgehog
10/18/18 5:41:43 AM
#13:


What did the recent Mega Millions and Powerball drawings have in common?

:D

The number 69 XD
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AllstarSniper32
10/18/18 6:20:02 AM
#14:


Keebs05 posted...
Between federal and state taxes, it can get pretty damn close to 50%. Lottery winnings are taxed like income. IRS taxes the top income bracket at 39.6%. Then comes local government to get their cut. Most of the 44 states that participate in Powerball will take a piece. The local cut depends on the state.

Yes, I know this. But he specifically said that was just taken out and then there were taxes after that.

Oh, I know what the problem was, I think he was basing it on the 650 mil that he pulled from somewhere. The 650 would be the initial 50% he was talking about.

Whatever, I've talked about this with my dad before cause he always buys the tickets and always likes to talk about if he won. I remember looking things up and deciding that if you won it when you're about 45 or older, you'd want to just take the lump sum, but if you're younger than 45, it'd be good to take the annuity.

But the only thing that really matters is that the taxes for winning are ridiculous.
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GanglyKhan
10/18/18 7:12:32 AM
#15:


helIy posted...
oh no i'd only win 175 million?!?!?!

why does it matter? even if it was just one million, that's still a million fucking dollars

The context was spending enough money to offset the chances. He was saying that you're only winning back a small amount in comparison to what you spent on it to balance out the odds
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#16
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#17
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Ranzoh
10/18/18 10:05:30 AM
#18:


1 in 265 or 365 million. That's about 1 in every person in the US. It's a bad investment yeah obviously people lose in expenses more than they win it back.
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Mead
10/18/18 10:06:31 AM
#19:


Ranzoh posted...
1 in 265 or 365 million. That's about 1 in every person in the US.


Odds dont matter to the winner
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DoubleOSnake
10/18/18 10:13:14 AM
#20:


what if you actually won? would it kinda make you very religious? I mean thinking along the lines of "someone up there must really like me"
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Firewood18
10/18/18 10:17:07 AM
#21:


I was thinking of buying one last night but I got $5 in scratch offs instead. I won $20. I'm good.
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#22
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DoubleOSnake
10/18/18 12:04:51 PM
#23:


bumps
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BUMPED2002
10/18/18 12:19:10 PM
#24:


Jen0125 posted...
It's almost $1 billion

I bought tickets on my own and joined several pools.
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Krazy_Kirby
10/18/18 12:36:42 PM
#25:


i would rather spend a few dollars on something that has value.
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Mead
10/18/18 12:37:11 PM
#26:


Im gonna win it
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JOExHIGASHI
10/18/18 12:44:50 PM
#27:


Mead posted...
Ranzoh posted...
1 in 265 or 365 million. That's about 1 in every person in the US.


Odds dont matter to the winner

They matter to potential players
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Mead
10/18/18 12:45:45 PM
#28:


JOExHIGASHI posted...
Mead posted...
Ranzoh posted...
1 in 265 or 365 million. That's about 1 in every person in the US.


Odds dont matter to the winner

They matter to potential players


Okay
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DoubleOSnake
10/18/18 12:54:58 PM
#29:


Zangulus posted...
DoubleOSnake posted...
what if you actually won? would it kinda make you very religious? I mean thinking along the lines of "someone up there must really like me"


Lol no. Il always find it funny when the multimillionaires thank Jesus for winning another $10 in the lottery.

Bitch, Jesus didnt want you to horde money mother fucker.

yep
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#30
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LustyBustyLaura
10/18/18 1:00:11 PM
#31:


Going to pick one up tonight. Hope I win!
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rogerskg1979
10/18/18 1:35:31 PM
#32:


Jen0125 posted...
I bought tickets and so did my boyfriend so now we're twice as likely to win


So your 0.0000000000000000001% chance to win is now 0.0000000000000000002%

Wowee!!
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Jen0125
10/18/18 3:28:21 PM
#33:


DoubleOSnake posted...
what if you actually won? would it kinda make you very religious? I mean thinking along the lines of "someone up there must really like me"


No.

rogerskg1979 posted...
Jen0125 posted...
I bought tickets and so did my boyfriend so now we're twice as likely to win


So your 0.0000000000000000001% chance to win is now 0.0000000000000000002%

Wowee!!


Omg. I'm practically spending my money already cha-ching!
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DoubleOSnake
10/18/18 3:48:18 PM
#34:


Jen0125 posted...
DoubleOSnake posted...
what if you actually won? would it kinda make you very religious? I mean thinking along the lines of "someone up there must really like me"


No.

rogerskg1979 posted...
Jen0125 posted...
I bought tickets and so did my boyfriend so now we're twice as likely to win


So your 0.0000000000000000001% chance to win is now 0.0000000000000000002%

Wowee!!


Omg. I'm practically spending my money already cha-ching!

but why wouldn't you turn religious? the odds were astronomical
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RCtheWSBC
10/18/18 3:54:48 PM
#35:


DoubleOSnake posted...
but why wouldn't you turn religious? the odds were astronomical

How is that proof of a divine intervention or some deity?
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Mead
10/18/18 3:58:50 PM
#36:


If I win I will hold a pancake breakfast for all of potd
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InfestedAdam
10/18/18 4:01:58 PM
#37:


I don't play the Lottery but I do wonder how many only play when the pot exceed X amount with the notion of "It's only a few dollars".
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wolfy42
10/18/18 4:08:39 PM
#38:


There are, or at least were, ways to actually make money gambling in the past. The nickle slots for instance in nevada (they were regulated) had such a high return rate that even not including free drinks you could steadly make a profit (upwards of $20 an hour even was possible...which was not a horrid about back then).

Most of the strategies involved were fairly well known as well...so it wasn't that rare for people to do it.

Now many slots are digital and not actually random (it's a set string of combinations....you could print out the future rolls if you wanted). Not sure if that is the case in Nevada though (have not been in almost 20 years) but at indian casino's etc....it's really not gambling anymore and they basically milk the players steadily.

Still ways to make money, just not with slot machines it seems.

Man it was SO fun drinking vigin strawberry daquries *sp*, with my wife while playing "Treasure Time" slots for hours hehe....miss those days. We said "It's treasure time!!" for years afterwards.
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Ogurisama
10/18/18 4:14:55 PM
#39:


Mead posted...
If I win I will hold a pancake breakfast for all of potd

I hope you win! Where will it be held?
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Jen0125
10/18/18 4:16:50 PM
#40:


DoubleOSnake posted...
Jen0125 posted...
DoubleOSnake posted...
what if you actually won? would it kinda make you very religious? I mean thinking along the lines of "someone up there must really like me"


No.

rogerskg1979 posted...
Jen0125 posted...
I bought tickets and so did my boyfriend so now we're twice as likely to win


So your 0.0000000000000000001% chance to win is now 0.0000000000000000002%

Wowee!!


Omg. I'm practically spending my money already cha-ching!

but why wouldn't you turn religious? the odds were astronomical


Why would I
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Veedrock-
10/18/18 4:19:07 PM
#41:


Because money makes the flames of hell burn hotter. Repent sinner.
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wolfy42
10/18/18 4:21:54 PM
#42:


Good luck to anyone who is playing. If you win, start a gaming commune please:)
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DoubleOSnake
10/18/18 4:22:15 PM
#43:


Jen0125 posted...
DoubleOSnake posted...
Jen0125 posted...
DoubleOSnake posted...
what if you actually won? would it kinda make you very religious? I mean thinking along the lines of "someone up there must really like me"


No.

rogerskg1979 posted...
Jen0125 posted...
I bought tickets and so did my boyfriend so now we're twice as likely to win


So your 0.0000000000000000001% chance to win is now 0.0000000000000000002%

Wowee!!


Omg. I'm practically spending my money already cha-ching!

but why wouldn't you turn religious? the odds were astronomical


Why would I

aren't the odds like 400 mil to 1? you have millions times chances higher of being struck by lightning
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Mead
10/18/18 4:25:03 PM
#44:


Veedrock- posted...
Because money makes the flames of hell burn hotter. Repent sinner.


Money would burn super quick though. Coal would probably best for hellfire or maybe plutonium
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Jen0125
10/18/18 4:26:19 PM
#45:


DoubleOSnake posted...
Jen0125 posted...
DoubleOSnake posted...
Jen0125 posted...
DoubleOSnake posted...
what if you actually won? would it kinda make you very religious? I mean thinking along the lines of "someone up there must really like me"


No.

rogerskg1979 posted...
Jen0125 posted...
I bought tickets and so did my boyfriend so now we're twice as likely to win


So your 0.0000000000000000001% chance to win is now 0.0000000000000000002%

Wowee!!


Omg. I'm practically spending my money already cha-ching!

but why wouldn't you turn religious? the odds were astronomical


Why would I

aren't the odds like 400 mil to 1? you have millions times chances higher of being struck by lightning


But what does religion have to do with anything

Having something rare happen to you doesn't make religion any more real or fake
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Mead
10/18/18 4:26:20 PM
#46:


Ogurisama posted...
Mead posted...
If I win I will hold a pancake breakfast for all of potd

I hope you win! Where will it be held?


Just IHOP probably
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Ogurisama
10/18/18 4:29:47 PM
#47:


Mead posted...
Ogurisama posted...
Mead posted...
If I win I will hold a pancake breakfast for all of potd

I hope you win! Where will it be held?


Just IHOP probably

But there are 100s of ihops around the world, which one?
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Mead
10/18/18 4:45:05 PM
#48:


Ogurisama posted...
Mead posted...
Ogurisama posted...
Mead posted...
If I win I will hold a pancake breakfast for all of potd

I hope you win! Where will it be held?


Just IHOP probably

But there are 100s of ihops around the world, which one?


The good one
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Revelation34
10/18/18 8:29:09 PM
#49:


DoubleOSnake posted...
aren't the odds like 400 mil to 1? you have millions times chances higher of being struck by lightning


Religion has nothing to do with rare odds.
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slacker03150
10/18/18 9:05:18 PM
#50:


where are you guys getting your number from? You get a lot more than 175-200 million if you win the jackpot

For instance I live in wisconsin, if I won and took the cash payout of 548m it would get taxed as income by both federal and state. federal got lowered to 37% and my state's tax would be 7.65% for a total of 44.65% that includes the 25% tax. The government automatically collects that 25% when you win, but it is counted towards the 37% that you owe, not in addition to it. So my personal payout would be 358 million. a far cry from 970m sure, but if I take 8 million for personal expenditures and play money and invest the rest expecting modest returns averaging 5% after 30 years (the time it takes to pay out on the larger amount) you could have 1.5 billion. even if you decide to take out some once in a while you can still get to a billion easy enough once you have that kind of cash to start.
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