MegaMillions Now $740 Million;How Many Of You Will Buy A Ticket?

[phillyflyers]

Never bought a lotto ticket in my life.

Crazy thought as much as a degen as I am, right?

Ain't gonna start now either.

No chance to ever win.

At least give decent odds but they never will.

Fukk them.

 

[Wagerallsports]

If I can remember I'll grab a couple

 

[phillyflyers]

If I can remember I'll grab a couple

Why?

You ain't winning lol.

 

[phillyflyers]

Someone set me straight on this lotto bullshit,.please.

As I understand it, there's a set prize, right? In this case, $700+ million.

Do you actually get that? Also, what do they mean when they say "cash option?"

I'm curious now.

 

[Archie]

people need spoon fed info

 

[djefferis]

740 million is the “total payout” over 20 or 25 years you get from the annuity they buy to cover the jackpot.

Cash option is just the choice of taking the cash and not being bound into that annuity with an annual payout.

Obviously - most people think they can do better on their own investing vs relying on the annuity. Most people are dumbasses too - but they proved that by buying lotto tickets.

I mean $2 for a chance - whatever. But anything more than that is just stupidity. I play when we start a pool at work so I’m not stuck working when everyone else quits. Might sign up for the Jackpot app and get my free $20 or whatever it is they are passing out. But playing it on my own - nope, haven’t in 20 years.

 

[phillyflyers]

740 million is the “total payout” over 20 or 25 years you get from the annuity they buy to cover the jackpot.

Cash option is just the choice of taking the cash and not being bound into that annuity with an annual payout.

Obviously - most people think they can do better on their own investing vs relying on the annuity. Most people are dumbasses too - but they proved that by buying lotto tickets.

I mean $2 for a chance - whatever. But anything more than that is just stupidity. I play when we start a pool at work so I’m not stuck working when everyone else quits. Might sign up for the Jackpot app and get my free $20 or whatever it is they are passing out. But playing it on my own - nope, haven’t in 20 years.

Ok so 20-25 years and cash option is one payout?

But it says it's like only half for the cash option?

So then, assuming tax, if take the cash option, you end up with like 1/3 of what stated jackpot is?

 

[Archie]

740 million is the “total payout” over 20 or 25 years you get from the annuity they buy to cover the jackpot.

Cash option is just the choice of taking the cash and not being bound into that annuity with an annual payout.

Obviously - most people think they can do better on their own investing vs relying on the annuity. Most people are dumbasses too - but they proved that by buying lotto tickets.

I mean $2 for a chance - whatever. But anything more than that is just stupidity. I play when we start a pool at work so I’m not stuck working when everyone else quits. Might sign up for the Jackpot app and get my free $20 or whatever it is they are passing out. But playing it on my own - nope, haven’t in 20 years.

you get way less with the upfront cash option

 

[Archie]

lump sum payout currently 342 milly

 

[Archie]

after taxes maybe 225-250 million depending on state

 

[BigJay]

lump sum payout currently 342 milly

after taxes maybe 225-250 million depending on state

In that case I probably won’t play

 

[Archie]

In that case I probably won’t play

egg Zach Lee

ain't worth the trouble

 

[phillyflyers]

lump sum payout currently 342 milly

Yes but that is taxed, correct?

So you actually get like 1/3 or 1/4 actual stated jackpot?

If so, that is one hell of a scam.

 

[BobbyFK]

Sure why not? Definitely a LONG shot but it's worth a try

 

[djefferis]

Yes but that is taxed, correct?

So you actually get like 1/3 or 1/4 actual stated jackpot?

If so, that is one hell of a scam.

Even better - I’ve seen municipalities try getting rich off a windfall.

So your losing 1/3 of that to Uncle Sam - then depending on your state/state where purchased again 3-10% potentially lost.

But then you get those cities/townships with an income tax .5-3% owed to them. Worse - I’ve seen it claimed not in people who LIVE in that city - but who bought the dam ticket at a store there.

Would be interesting to see - if someone buys a ticket in a state without income tax - tried to argue residence - could they win ? I mean 5% of 250 million is still a 10 million argument - I’m sure someone would take that up for 1/3rd if they won.

 

[Brock Landers]

you get way less with the upfront cash option

NO ONE chooses the annuity

 

[Archie]

and only the dumb poor play the lottery

 

[phillyflyers]

Even better - I’ve seen municipalities try getting rich off a windfall.

So your losing 1/3 of that to Uncle Sam - then depending on your state/state where purchased again 3-10% potentially lost.

But then you get those cities/townships with an income tax .5-3% owed to them. Worse - I’ve seen it claimed not in people who LIVE in that city - but who bought the dam ticket at a store there.

Would be interesting to see - if someone buys a ticket in a state without income tax - tried to argue residence - could they win ? I mean 5% of 250 million is still a 10 million argument - I’m sure someone would take that up for 1/3rd if they won.

That's fukkin crazy.

By the time the government gets done, you might have enough left to buy a pack of gum.

 

[phillyflyers]

Fukk that.

I saw the number and it got my attention but I ain't buying a ticket.

Fukkin scam all the way and the odds are so bad you really don't have a shot.

Fukk them.

 

[Archie]

you are like 10x more likely to be killed in a shark attack than you are to win the mega millions