Powerball

Discussion in 'The Lounge' started by whybother, Jan 6, 2016.

  1. whybother

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    Who is in?

    I got my tickets.
     
  2. Englishman

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    Not me. But i have the UK lotto and the European one :)

    So what's the jackpot on Powerball then ?
     
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  3. Dog_E_Ryder

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    450 million. Yeah I bought mine yesterday. I dont play until it gets up there like that, Then its hard to resist not too. lol
     
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  4. HeartsDesire

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    Im getting mine today. Sure would be nice to win but with my luck I know I wont..lol
     
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  5. whybother

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    It doesn't take bad luck not to win Powerball. It's all about the dream.
     
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  6. HeartsDesire

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    Welll I dream big...lol
     
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  7. Englishman

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    dont forget us if you win :)
     
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  8. whybother

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    Sorry, but if I win as few people as possible will know about it.
     
  9. Englishman

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    Do you have to pay tax on your winnings in the USA ?
     
  10. whybother

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    Oh Yeah. The number is actually inflated. They call it $450 million but that's a payout over time. The single payment option is around 300 million and taxes would come out of that. There's a 35% Federal tax rate and then a lower state tax which varies from state to state.
     
  11. xtacy4

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    I can't even justify putting more than a quarter in a slot machine lol :D:p
     
  12. whybother

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    I buy single tickets. That way when I am having trouble falling asleep. I do the math in my head. "450 million, lump sum would be 300. That's like 200 after taxes. If I invest conservatively, that could pay about 6 million a year." Then I think about what I would do. "Pay off the house and car, pay for rest of the kids college. set up trusts for the kids, new house, new car, new bike. take the extended family to a resort," Then I think about charities, "my kids grammar school and high school, my college, cancer society, etc" I drift off to sleep with a smile on my face. Never mind that it will never happen. I can dream.
     
  13. xtacy4

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    I have no idea how much a ticket even is, but in mind it's that much down the drain. I could've been enjoying a cup of coffee or something lol :D I get it though. It's just the banker in me!
     
  14. Dog_E_Ryder

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    yeah Im wanting to think cash pay out is about 200 million, plus the 35% fed tax as well as a state rate. Which of course you can shelter some of that through certain business investments.
     
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  15. Dog_E_Ryder

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    I don't ever purchase one either until they get over 200 million, but its the fun of it actually, like Whybother says a simple dream or delight like eating a ice cream cone. A cheap simple pleasure or dream. I never spend more than 5 bucks on a set of tickets. There is that small very micro chance you could win. I remember when lottery first started up here in KY, my wife bought a scratch off and hit 3 grand. It was about 1 in 300,000 chance hitting that, but it did happen. :D
     
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  16. whybother

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    We throw scratch offs into birthday cards and stocking stuffers. Just for the fun of it.

    I do wonder about people I see in the convenience store on multiple occasions standing there scratching cards.
     
  17. whybother

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    Its kind of the same as being here on SF: I will never have sex with you, but I can dream.
     
  18. Dog_E_Ryder

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    Oh yeah it definitely is a drain on the economy, it attracts the poor, looking for a payday. I see people in the c-stores who don't have a car to get there, buying rolls at a time.
     
  19. xtacy4

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    You win and I'll make that dream a reality! LMAO Kiddinggggggg :D
     
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  20. Dog_E_Ryder

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    Mega millions didn't win last night either so its now up to 165 million, Guess I will play that one now as well.:D
     
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