do they not get a percentage of the tickets they sell?
I looked it up, seems like it might vary by state but
2. Does the store that sold the winning ticket get anything?
Cohen said that the seller of the winning jackpot ticket will receive a $25,000 bonus from the lottery. That money isn’t taken from the winner’s jackpot but from regular ticket sales and cashing commissions that the lottery collects from every ticket sold.
In D.C., sellers do not receive a bonus for selling a winning Match-5 ticket.
AFAIK except in jackpot circumstances there is no financial gain for a store to sell a winning vs losing ticket.
Well I hope the winner manages to not end up with a horribly fucked up life like the horror stories suggest they will no matter what they do!
+5
WeaverWho are you?What do you want?Registered Userregular
So now it's the slow build up to a month from now, when my store will once again have insane lines of already well-off white women and young Asian exchange students beating against the the desk for tickets.
So now it's the slow build up to a month from now, when my store will once again have insane lines of already well-off white women and young Asian exchange students beating against the the desk for tickets.
I realize that you're upset about people being obnoxious but this is a silly post, yknow?
Now I can go back to not caring about the lottery.
No, now is the time to care. Everyone is all focused on that 1.5 billion. Now you grab a couple of millions in the new jackpot while no one is looking.
Well now it's back to a reasonable $40 million jackpot. I'd still take the annuity, which comes out to around $750k per year after taxes for me for 30 years. I'd save something like $50k per year specifically for retirement investment with the rest of the first payment taking care of bills, trade in a car for something newer and more efficient. Down to $400k, I'd do one of those long cruises around the world to let things simmer down back home before coming back and resuming life with my wife and I cutting out hours worked in half.
That's a lot easier than having a billion bucks and buying tickets to outer space and recreating hindenburgh disasters, and whatnot.
MalReynoldsThe Hunter S Thompson of incredibly mild medicinesRegistered Userregular
I got three.
I was off by one digit on two balls for the million.
Didn't get any of the powerballs tho.
"A new take on the epic fantasy genre... Darkly comic, relatable characters... twisted storyline."
"Readers who prefer tension and romance, Maledictions: The Offering, delivers... As serious YA fiction, I’ll give it five stars out of five. As a novel? Four and a half." - Liz Ellor My new novel: Maledictions: The Offering. Now in Paperback!
Well now it's back to a reasonable $40 million jackpot. I'd still take the annuity, which comes out to around $750k per year after taxes for me for 30 years. I'd save something like $50k per year specifically for retirement investment with the rest of the first payment taking care of bills, trade in a car for something newer and more efficient. Down to $400k, I'd do one of those long cruises around the world to let things simmer down back home before coming back and resuming life with my wife and I cutting out hours worked in half.
That's a lot easier than having a billion bucks and buying tickets to outer space and recreating hindenburgh disasters, and whatnot.
The problem with taking the annuity is that if you die tomorrow, the money stops even if you have a wife/kids/heirs.
Well now it's back to a reasonable $40 million jackpot. I'd still take the annuity, which comes out to around $750k per year after taxes for me for 30 years. I'd save something like $50k per year specifically for retirement investment with the rest of the first payment taking care of bills, trade in a car for something newer and more efficient. Down to $400k, I'd do one of those long cruises around the world to let things simmer down back home before coming back and resuming life with my wife and I cutting out hours worked in half.
That's a lot easier than having a billion bucks and buying tickets to outer space and recreating hindenburgh disasters, and whatnot.
The problem with taking the annuity is that if you die tomorrow, the money stops even if you have a wife/kids/heirs.
That's incorrect and I'm not sure why so many people think this.
WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES?
The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. We often hear people complain that the jackpot should not go back to "the state" when a winner dies. It does not. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State."
+5
BroloBroseidonLord of the BroceanRegistered Userregular
wait so what you're saying is that if I start just indiscriminately murdering people and one of those people ends up being the billion dollar winner
that I get to keep all of that money?
Well now it's back to a reasonable $40 million jackpot. I'd still take the annuity, which comes out to around $750k per year after taxes for me for 30 years. I'd save something like $50k per year specifically for retirement investment with the rest of the first payment taking care of bills, trade in a car for something newer and more efficient. Down to $400k, I'd do one of those long cruises around the world to let things simmer down back home before coming back and resuming life with my wife and I cutting out hours worked in half.
That's a lot easier than having a billion bucks and buying tickets to outer space and recreating hindenburgh disasters, and whatnot.
The problem with taking the annuity is that if you die tomorrow, the money stops even if you have a wife/kids/heirs.
That's incorrect and I'm not sure why so many people think this.
WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES?
The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. We often hear people complain that the jackpot should not go back to "the state" when a winner dies. It does not. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State."
Yes but then your wife and children want you dead for that sweet sweet lotto money
Well now it's back to a reasonable $40 million jackpot. I'd still take the annuity, which comes out to around $750k per year after taxes for me for 30 years. I'd save something like $50k per year specifically for retirement investment with the rest of the first payment taking care of bills, trade in a car for something newer and more efficient. Down to $400k, I'd do one of those long cruises around the world to let things simmer down back home before coming back and resuming life with my wife and I cutting out hours worked in half.
That's a lot easier than having a billion bucks and buying tickets to outer space and recreating hindenburgh disasters, and whatnot.
The problem with taking the annuity is that if you die tomorrow, the money stops even if you have a wife/kids/heirs.
That's incorrect and I'm not sure why so many people think this.
WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES?
The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. We often hear people complain that the jackpot should not go back to "the state" when a winner dies. It does not. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State."
Yes but then your wife and children want you dead for that sweet sweet lotto money
Well now it's back to a reasonable $40 million jackpot. I'd still take the annuity, which comes out to around $750k per year after taxes for me for 30 years. I'd save something like $50k per year specifically for retirement investment with the rest of the first payment taking care of bills, trade in a car for something newer and more efficient. Down to $400k, I'd do one of those long cruises around the world to let things simmer down back home before coming back and resuming life with my wife and I cutting out hours worked in half.
That's a lot easier than having a billion bucks and buying tickets to outer space and recreating hindenburgh disasters, and whatnot.
The problem with taking the annuity is that if you die tomorrow, the money stops even if you have a wife/kids/heirs.
That's incorrect and I'm not sure why so many people think this.
WHAT HAPPENS IF AN ANNUITY PRIZE WINNER DIES?
The estate will handle the lottery prize. A lottery annuity prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes. We will sell some or all of the securities at competitive bid or will even just transfer the securities to the estate. We do not charge a fee of any kind. We often hear people complain that the jackpot should not go back to "the state" when a winner dies. It does not. I think that this misunderstanding may come from the response that the prize "goes to the Estate" and some people hear "goes to the State."
Yes but then your wife and children want you dead for that sweet sweet lotto money
there are many different schools of thought to annuity vs. lump sum
some pro annuity arguments:
guaranteed rate of return* (it factors out to something like making 2.6% growth per year on the lump sum, which is actually a respectable return on a guaranteed investment)
it's a teensy bit hard to properly secure 500 million goddamn dollars. deposit insurance, etc...
some lump sum arguments:
the taxes on lottery winnings are almost certainly going to go up in the future
a wise investor could probably do a better job with the return
GET. THE. BIGGEST. LASER.
I'd want to spend a decent portion of my winnings on immediate concerns. Pay off debt, pursue a couple pet projects, random acts of kindness for the people I care about in my life, and that would be difficult to do with the annuity option.
The big problem that people seem to run into in the cash/annuity discussion is that you get that argument from investors that they can totally beat the annuity. The problem with the premise is that the lottery is investing the money too in many of the same "safe" investments that your advisor will take a fee to do too. Sure, they could hit an Apple IPO or something, but so could you with a portion of your yearly annuity, but with that backup automatic fee-less investment in safe securities.
Also, the lower amount of the yearly payments just feels way more manageable to me.
I feel like a certain point (i.e. $1.3 Billion or whatever you will actually get out of it - say $500 million) you could do almost the worst financial thing, let it all sit in a zero interest bank account where it effectively loses value, and you would still be alright because it is $500 million
If you just stick it into a savings account accruing 1% your'e making 5 mil a year on interest. It's not a great idea to stick it all in there in case of a bank failing but once you're rich it's not hard AT ALL to stay rich.
Well, this is pretty cool. Turns out the Californian winner looks to be a a 60-something nurse with seven kids. She didn't even buy the ticket herself but rather her boss did, having bought tickets for all 15,000 employees and residents of his 80 health-care facilities.
Well, this is pretty cool. Turns out the Californian winner looks to be a a 60-something nurse with seven kids. She didn't even buy the ticket herself but rather her boss did, having bought tickets for all 15,000 employees and residents of his 80 health-care facilities.
Her son was pranking her, that article's been updated.
I'd take the annuity just on the principle that I could think of things to do with a couple hundred thousand a month and I can't even wrap my mind around a billion at once
I don't even care if it ends up being less because 1 billion and 500 million may as well be the same number to an individual
NASHVILLE, Tenn. (AP) — A small-town warehouse supervisor turned in one of three tickets splitting the world-record $1.6 billion Powerball jackpot on Friday, and swiftly announced that he would take his money now, giving up hundreds of millions of dollars in the future. But John Robinson and his wife, Lisa, said they won't stop working and won't make any wild purchases. They'll pay off their mortgage and their daughter's student loans, but have no desire to move from their small, gray, one-story house into a luxurious compound somewhere.
"I've never wanted that in the past. I don't really want that now," said Lisa Robinson, who works in a dermatologist's office.
"Big houses are nice," her husband said, "But also you gotta clean 'em."
Robinson said he reached out to his brother for help finding lawyers and financial planners before deciding to take the winnings in a single lump sum of nearly $328 million, rather than let the lottery invest the prize and pay him 30 annual installments totaling an estimated $533 million. Why pass up on a certain income totaling more than $200 million?
"We're going to take the lump sum, because we're not guaranteed tomorrow," Robinson said. "We just wanted a little piece of the pie. Now we're real grateful we got the big piece of the pie."
No one has produced the other winning tickets, which overcame odds of 1 in 292.2 million to land on all six numbers at a Publix supermarket in Melbourne Beach, Florida, and a 7-Eleven in Chino Hills, California. In California, any winnings not claimed within a year automatically go to the state's schools. Florida gives winners six months to come forward before transferring 80 percent of unclaimed prizes to an educational trust fund, and 20 percent into a pool for future lottery prizes.
The Robinsons said they have no plans to leave Munford, the town of about 6,000 north of Memphis where they both went to high school. And both plan to return to work on Monday, because "that's what we've done all our lives, is work," Robinson said. "You just can't sit down and lay down and not do nothing anymore. How long are you going to last?" he asked.
Tennessee Lottery executive Rebecca Hargrove said the couple would get a "small check today for a few million," and collect the full lump sum in about 10 business days.
WeaverWho are you?What do you want?Registered Userregular
I'm giving the WA Match4 a short go because the odds aren't insane, it plays daily, and the big prize of $10k could pay off all of my debt with a tad left over, and having a better credit rating would be nice.
0
scherbchenAsgard (it is dead)Registered Userregular
Well, this is pretty cool. Turns out the Californian winner looks to be a a 60-something nurse with seven kids. She didn't even buy the ticket herself but rather her boss did, having bought tickets for all 15,000 employees and residents of his 80 health-care facilities.
Her son was pranking her, that article's been updated.
Posts
For selling the winner. I think its a neat little thing.
EDIT: Twitter hoaxers are already out there:
https://twitter.com/theguysthelimit
I looked it up, seems like it might vary by state but
AFAIK except in jackpot circumstances there is no financial gain for a store to sell a winning vs losing ticket.
Now I can go back to not caring about the lottery.
I realize that you're upset about people being obnoxious but this is a silly post, yknow?
No, now is the time to care. Everyone is all focused on that 1.5 billion. Now you grab a couple of millions in the new jackpot while no one is looking.
Let's Play Final Fantasy 'II' (Ch10 - 5/17/10)
Dang it.
That's a lot easier than having a billion bucks and buying tickets to outer space and recreating hindenburgh disasters, and whatnot.
That's worth about 2 cents, right?
I was off by one digit on two balls for the million.
Didn't get any of the powerballs tho.
"Readers who prefer tension and romance, Maledictions: The Offering, delivers... As serious YA fiction, I’ll give it five stars out of five. As a novel? Four and a half." - Liz Ellor
My new novel: Maledictions: The Offering. Now in Paperback!
$$$$$$$
Welcome to the seven dollar club
The problem with taking the annuity is that if you die tomorrow, the money stops even if you have a wife/kids/heirs.
That's incorrect and I'm not sure why so many people think this.
http://www.powerball.com/pb_contact.asp
that I get to keep all of that money?
brb
it's not?
brb
Yes but then your wife and children want you dead for that sweet sweet lotto money
Valid point.
HA HA HA HA HA
oh wait, wrong thread...
some pro annuity arguments:
guaranteed rate of return* (it factors out to something like making 2.6% growth per year on the lump sum, which is actually a respectable return on a guaranteed investment)
it's a teensy bit hard to properly secure 500 million goddamn dollars. deposit insurance, etc...
some lump sum arguments:
the taxes on lottery winnings are almost certainly going to go up in the future
a wise investor could probably do a better job with the return
GET. THE. BIGGEST. LASER.
personally I would take lump sum
Also, the lower amount of the yearly payments just feels way more manageable to me.
#TeamAnnuity
Let's Play Final Fantasy 'II' (Ch10 - 5/17/10)
Her son was pranking her, that article's been updated.
I don't even care if it ends up being less because 1 billion and 500 million may as well be the same number to an individual
Let's Play Final Fantasy 'II' (Ch10 - 5/17/10)
that is a terrible prank.