$650 million Powerball

[Copierguy0]

The drawing for this week’s estimated $650 million Powerball jackpot will take place at 10.59 p.m. Eastern time Wednesday, according to the Multi-State Lottery Association.

The minimum Powerball bet is $2. In each game, players select 5 numbers from a set of 69 white balls and 1 number from 26 red Powerballs; the red ball number can be the same as 1 of the white balls.

http://www.marketwatch.com/story/wha...ing-2017-08-21

Dr. Kim says the most frequently drawn Powerball number for the past 10 years is number 20. It is followed by 37, 2, 31, and 35. As for those white balls, the most popular is number 42. It is closely followed by 16, 35, 26, and 19.

TEXAS has only won the powerball 2 times, INDIANA leads with 39 times.

If i win, which providers would be interested in being taken OFF the market?

CG

[huskerred]

Why on earth would you limit it to only one provider if you win? For that huge prize you should have at least one for each day of the week. Good luck.

[billw1032]

Don't get ahead of yourself. I have the winning ticket. Ummm...Errrr... I mean I'm going to buy the winning ticket tomorrow...

[CG2014]

How much is the lump sum cash payment? $500 millions?

[billw1032]

Originally Posted by CG2014

How much is the lump sum cash payment? $500 millions?

If my memory is correct, it's usually about half.

[CG2014]

Originally Posted by billw1032

If my memory is correct, it's usually about half.

That's still a nice respectable amount of money.

[txexetoo]

Originally Posted by billw1032

If my memory is correct, it's usually about half.

Your memory is very poor. On 650 million the cash payout is 411 million. After taxes the payout is around 253 million

[mtabsw]

I'd rent out the Crouching Tiger room at ZaZas. Hire a couple of bartenders. Fly in my friends, maybe bring a couple of hobbyists (Sir Lanchernot and White Tiger for sure). Get several of our local lovelies plus a couple of porn stars that fuck for hire. Party for a month.

Whatever money is left I'd spend foolishly.

[Roy Wally]

I remember doing "odds-of" equations in stats class in college.
In comparing the odds of winning, any series of numbers (6) that you choose (whether it be quick-pick, personally-chosen numbers, frequently-chosen numbers, your "lucky numbers", etc) has the EXACT same chance of being drawn as any other group of numbers.
That means:
The numbers 1,2,3,4,5,6 (for example) have just as good a chance of winning as a quick-pick or any other group of random numbers. The odds are exactly the same.
Choosing the most "frequently-drawn" numbers in hopes of winning is silly. It's entirely random.
So, when you go to select your numbers, choose an obviously-related series of numbers such as 5,10,15,20,25,30.... or 10,20,30,40,50,60... etc, etc. Chances are that no one else will have chosen those numbers and won't end up having to split the prize with someone.
But..... with so many people playing, eventually someone wins those one-in-a-billion odds.
Wish it were me. I still play powerrball and Texas Lotto.
What the hell.

[CG2014]

It's $700 million now.

$443 million lump sum payment before the Fed takes 25% in income taxes making it $332 million.

After that the remaining amount is all yours if you live in a state like Texas with no state income tax.

As of September 1st, winners in Texas can now claim their prize anonymously.

Don't want to end up like these poor folks:

https://www.cbsnews.com/pictures/luc...ost-it-it-all/

[right_now]

Originally Posted by CG2014

It's $700 million now.

$443 million lump sum payment before the Fed takes 25% in income taxes making it $332 million.

I do believe the top Federal rate is 39.60%. Good luck trying to get down to 25% on that payout.

[billw1032]

Why 25% for federal tax? How does an income this big not put you in the top tax bracket? I wouldn't spend it all right away. Keep some in reserve until you fill out your income tax next year, or you may be in for a big surprise.

[CG2014]

No they take 25% off the top before cutting you a check.

You will still have to pay more Federal income tax on the remaining depending on what income tax bracket you are in and what you do with the money from the check.

But there are legal ways around it. Never collect the money in your name.

[Copierguy0]

Originally Posted by txexetoo

Your memory is very poor. On 650 million the cash payout is 411 million. After taxes the payout is around 253 million

That ALL i will have left? 253 million? WTF lol

CG

[plove35]

Fun to dream....