That $100M after lump sum and taxes is down to about $30M so still unless you are the only winner you are losing money. The multiplier option would add another $292M to the cost so even the 5X multiplier you are just adding to your losses. $500M lump sum would be $310M, after just federal taxes would be $187M, another $110M lost.
Fun discussion. This is what I'm thinking without using calculator: I think the consol's are paid in full and not on annuity so one would get the full cash value. All the losing tickets would be tax deductible against the gains. So lets says 15 million tickets are winners, you can take 550 million in losses against the gains and only pay tax on the excess. So if you get 100 mill in consol, you would need to clear 450 million in the jackpot to break even. If you buy the multiplier, you get 500 mill in consol and have losses of 825mill and need only 325 mill jackpot to break even.
Yes, forgot that they are full value, when I did my first calculation I did figure in the tax write off, didn't figure it in on subsequent calculations. Don't think anyone would be silly enough to try and pull this off but Florida Lotto is a different story, only 22,957,480 different combinations and tickets are only $1.
no matter what you figure out mathematically there's still the logistical problem of physically playing every combination.
http://gsaauctions.gov/gsaauctions/aucdsclnk?sl=91QSCI16123601 Gonna buy myself a God damned Blackhawk when I win. Then I can fly myself, Brooklyn, and JStokes to AC for hookers and blow.
wow I didnt know they sold those things to private citizens. thats badass. let me come with you to Atlantic City.
True, if you tried spreading out the purchases at different stores, you could end up with not getting every combination. It used to be, random picks would not be issued twice, so everyone playing random picks is cutting in on your action. Not sure if it still that way.
First thing to do - sign the ticket and lock it up. Second - contact attorney Third - contact accountant Fourth thru whatever - start making ur naughty and nice list and STICK to it. A lot of lottery winners waffle on who gets what and that leads to chaos, lawsuits, and for many - bankruptcy. I personally know a 44 million dollar winner and that was the general sequence he followed. Didn't notify the mega millions folks for several weeks. Went in with a posse and was all business.
Basically contact a trust attorney. Any money for friends and family must be disseminated via the trust. You can claim your ticket at any State's Powerball office. Go to a state where no one will know you. Accept the money in the name of the trust. Not using your name. Wear a disguise if you have to be photographed. Additionally take out an insurance policy on yourself. Many people will try to provoke you into fights or may try to get into an accident with you to sue.
I think if someone went to the lottery office and let them know they wanted to spend almost $600M they would find a way to make it happen since they get close to 50% of that, at least in Florida, to go towards the education fund (30-40%) and payments to retailers (6%) and operational costs (2%). $300M would be tough for them to pass up and they would have the bonus of not having to pay the retailer their cut which could be upwards of $45M if one retailer sold $600M in tickets and one was the winner.
42 restaurant employees in Jersey thought they hit for $949 million the other night, guy there called a friend to read him the numbers off to check the tickets they bought. Guy read off the numbers, they matched all the numbers on one ticket, place goes wild............guy calls back 20 minutes later and say, sorry I read you last Wednesday's numbers. There's another video with sound on The Posts site. Dishwasher ripped off his apron and said, I'm outta here, wonder if he got his job back. http://nypost.com/2016/01/12/workers-won-949m-powerball-for-20-minutes/
so when I bought some tickets w/ the gf, this happened, Gf: are you gonna play your jets numbers? Me: What jets numbers? Gf: zero, because that's their chance at the playoffs Burn, man.
I guess. They always announce where it was bought, so they'd have to figure a way around that. They took in $600 million naturally since the last draw. It sounds illegal and even if it's not, don't you risk turning off people rushing out to buy them when the pot is big if the last time it happened someone bought it?
