The One and Almighty Powerball/Lotto Thread!

[Sasquatch]

Your 100 tickets are almost the same as buying 1 ticket, as far as increasing your chances of winning.



Where is your interest going to come from? Your money isn't 100% safe in a bank, as it's only federally insured for 250k. You would likely have to pay for your own insurance to insure your money if you just leave it in a bank. Assuming it's a 2-3% return, which is somewhat generous, you likely won't beat inflation.

What would you advise then? (Just in case I win).

 

[CyberB0b]

What would you advise then? (Just in case I win).

Diversify. It also depends on your age.

I would take 1 million each for my wife and I, and blow it on whatever I want. Just to get it out of the way.

For me, being in my early 30's, I would probably open a brokerage account and buy a lot of undervalued blue chip stocks. Probably invest 50% there. I would spread the rest over real estate, precious metals, tax free bonds, and maybe get into venture capital.

 

[Tabascocat]

Diversify. It also depends on your age.

I would take 1 million each for my wife and I, and blow it on whatever I want. Just to get it out of the way.

For me, being in my early 30's, I would probably open a brokerage account and buy a lot of undervalued blue chip stocks. Probably invest 50% there. I would spread the rest over real estate, precious metals, tax free bonds, and maybe get into venture capital.

When I said interest, I did not mean it from simple savings accounts. I would get into stocks and bonds as well

 

[LittleBoyBlue]

Money cant buy you happiness, but it can buy you a yacht big enough to pull up right alongside it.

"David Lee Roth"

I have always bought what I want. I learned early on that if you work and make money this is possible.
Money makes me happy.... As do many other things.

A billion dollars WOULD make me even happier

 

[KJJ]

Where is your interest going to come from? Your money isn't 100% safe in a bank, as it's only federally insured for 250k. You would likely have to pay for your own insurance to insure your money if you just leave it in a bank. Assuming it's a 2-3% return, which is somewhat generous, you likely won't beat inflation.

There's debate on how to safe your money is in a bank so I'm not going to get into an argument over it but banks are closely regulated and one thing all legitimate US banks have in common is they're members of the FDIC. A guaranteed bond account can currently earn you over 4% interest.

 

[CyberB0b]

There's debate on how to safe your money is in a bank so I'm not going to get into an argument over it but banks are closely regulated and one thing all legitimate US banks have in common is they're members of the FDIC. A guaranteed bond account can currently earn you over 4% interest.

Keep in mind, gains from most bonds are taxable at the ordinary income tax rates. Captial gains tax is capped at 20%. That's why Warren Buffet pays a smaller tax rate than his secretary.

 

[KJJ]

Keep in mind, gains from most bonds are taxable at the ordinary income tax rates. Captial gains tax is capped at 20%. That's why Warren Buffet pays a smaller tax rate than his secretary.

Guaranteed bonds in an investment bond account are tax-exempt.

 

[RonSpringsdaman20]

I never play the lottery, but Ill buy a couple of tickets, why not.

 

[Tabascocat]

I never play the lottery, but Ill buy a couple of tickets, why not.

Someone has to win it, a chip and a chair right?

 

[sureletsrace]

I've never really looked at the math, but it seems like this could actually be a thing with the jackpot being at ~1.3 billion.

As long as there aren't multiple winners. The only problem would be getting that amount of tickets printed.

You would have to have every single 7-11 in America (10,500) printing 232 tickets per hour for 72 hours in order to print that many tickets in time for the drawing.

 

[RonSpringsdaman20]

Someone has to win it, a chip and a chair right?

you got it...
dollar and a dream.

 

[big dog cowboy]

I would easly share winning that much with several people.

 

[JohnnyTheFox]

Would be nice to win this............I would build me a nice affordable home at Lake Eufaula surrounded by walls and a moat. Other then that I would hire Van Halen to play my birthday party...............ok scratch that. Everything has its price including Scarlett Johansson.

 

[Hoofbite]

Your 100 tickets are almost the same as buying 1 ticket, as far as increasing your chances of winning.

Where is your interest going to come from? Your money isn't 100% safe in a bank, as it's only federally insured for 250k. You would likely have to pay for your own insurance to insure your money if you just leave it in a bank. Assuming it's a 2-3% return, which is somewhat generous, you likely won't beat inflation.

Do you need to beat inflation?

 

[Hoofbite]

Lump sum is the right way to go. Do your own investments and you'll end up with more. And if you died, you could pass it on.

End up with more? Something tells me that if you are the type of person who needs more than the current jackpot, you're likely not far off from blowing any amount that you could possibly win.

 

[Kevinicus]

End up with more? Something tells me that if you are the type of person who needs more than the current jackpot, you're likely not far off from blowing any amount that you could possibly win.

Well, that was was the reasoning the person I quoted offered for taking the installments, because it ended up at a higher amount. That higher amount is simply comes from the lottery earning interest on amount they don't pay you up front. Earning your own interest or getting back from investments would easily offset that.

 

[bounce]

I've never really looked at the math, but it seems like this could actually be a thing with the jackpot being at ~1.3 billion.

It wouldn't be a thing for a few reasons. A) Even if you bought a ticket a second, it would take over 9 years to purchase all the combos. B) The chances of winning it alone are only like 12% at the current pace of tickets being purchased. Split it with someone, and you just lost a TON of money. C) Anyone with 292M to blow is probably good with money and knows better than to gamble it on a lottery.

That said, first thing I'd do is hire a legal team, register an LLC and claim it under that, and do everything in my power to stay as anonymous as I could.

 

[DFWJC]

It wouldn't be a thing for a few reasons. A) Even if you bought a ticket a second, it would take over 9 years to purchase all the combos. B) The chances of winning it alone are only like 12% at the current pace of tickets being purchased. Split it with someone, and you just lost a TON of money. C) Anyone with 292M to blow is probably good with money and knows better than to gamble it on a lottery.

That said, first thing I'd do is hire a legal team, register an LLC and claim it under that, and do everything in my power to stay as anonymous as I could.

I agree with everything here.

 

[jubal]

I believe a wino will win it all and go out and get drunk with his friends.
Just my normal outlook on life. Lol!!!

 

[Tabascocat]

Obama should just give us all a late xmas present. Every person in America gets about 4.7 million bucks