$900 MILLION: Powerball lottery jackpot to create unimaginable wealth

Jan 9, 2016, 11:27 am (397 comments)

Powerball

Record Powerball jackpot could crown the first lottery billionaire

By Todd Northrop

For the third time in three days, the multi-state Powerball lottery jackpot has been raised to levels only dreamed about.

What if one person becomes a billionaire from a $2 lottery ticket?  That's certainly a potential scenario tonight, when the numbers are drawn for the biggest lottery jackpot the world has ever seen.

Powerball offers two jackpot payment options: the $900 million jackpot prize paid over 29 years in 30 graduated payments; or the cash option, which is now estimated at $558 million.

And that may not be as big as it gets. We will only learn the final jackpot tally during the live draw show, which happens at 10:59 pm Eastern Time (7:59 pm Pacific) tonight.

Anyone looking to play Powerball in tonight's drawing and has not yet purchased their tickets should not hesitate to get to the store right away.

If you're not sure where to buy your tickets, head right over to the Lottery Places website to download the free app on your phone or Windows 8 or Windows 10 computer. Lottery Places is the only app on the market that will locate lottery retailers in every state and jurisdiction throughout the United States.

Due to the overwhelming demand to see the winning numbers tonight after the drawing, players are advised to first check USA Mega (www.usamega.com) because that website is more likely than most to be up and running. The crush of players checking their numbers all at once will completely disable most other websites.

"You can throw out the logic. You can throw out the statistics," Gary Grief, executive director of the Texas Lottery, said Friday. "We've never seen jackpots like this. It's a new experience for all of us."

So many people were buying Powerball tickets in Iowa on Friday that lottery spokeswoman Mary Neubauer said some stores were running out of paper for tickets, leaving lottery workers scrambling to resupply the outlets.

Saturday's jackpot started at $40 million on Nov. 7, 2015, and is the result of 18 drawings with no jackpot winner.

When nobody won the jackpot on Wednesday night, the initial estimate for Saturday's drawing was established at $675 million, setting the world record for a lottery jackpot. Less than 12 hours later, that estimate was raised to $700 million. Less than 24 hours after that, MUSL again raised the official estimate to $800 million. And now, 24 hours later, they raised it once again to $900 million.

"This historic Powerball run has players across the country excited to join the fun, driving sales and the jackpot upward, all of which is a tremendous boost for the education programs funded by the Lottery," said Rebecca Hargrove, President and CEO of the Tennessee Lottery.

Although some lottery players (and some in the news media) believe Spain's El Gordo carries the largest lottery jackpot in the world, this is not the case. El Gordo, despite being termed a "lottery" is actually a raffle-style game, and the top prize is always divided between hundreds of winners. It is like a lottery scratch game in which is the total available prize pool of up to hundreds of millions of dollars is split between thousands of winners, and is not considered a "jackpot".

A jackpot is a large cash prize that accumulates until it is won, whereas a prize pool is the total value awarded to all players of a game. Thus, Powerball has the largest jackpot in world history, while El Gordo has the largest prize pool. Some may believe this is splitting hairs, but in the lottery industry it is an important distinction, and unfortunately one that the mainstream news media cares little to differentiate.

Powerball jackpots start at $40 million and roll until the jackpot is won. Players win the jackpot by matching five numbers from a field of 69 numbers and one Powerball number from a field of 26 numbers. Drawings are conducted each Wednesday and Saturday at 10:59 pm Eastern Time.

Powerball lottery results are published within minutes of the drawing at USA Mega (www.usamega.com).  The USA Mega Web site provides lottery players in-depth information about the United States's two biggest multi-state lottery games, Mega Millions and Powerball.

Top 25 United States lottery jackpots of all time

Saturday's Powerball jackpot currently stands as the largest lottery jackpot of all time in the United States — and in the world.  The amount of the jackpot may rise even further before the drawing Saturday night, as lotteries are typically conservative in their initial estimates, and brisk sales will certainly continue to push the jackpot estimate higher by draw time.

If nobody wins Saturday... well, let's not even go there.

  1. Powerball: $900 million, Jan. 9, 2016 - Preliminary estimate, not won yet
  2. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
  3. Mega Millions: $648 million, Dec. 17, 2013 - California, Georgia
  4. Powerball: $590.5 million, May 18, 2013 - Florida
  5. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
  6. Powerball: $564.1 million, Feb. 11, 2015 - North Carolina, Puerto Rico, Texas
  7. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
  8. Powerball: $425.3 million, Feb. 19, 2014 - California
  9. Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
  10. Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
  11. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
  12. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
  13. Powerball: $365 million, Feb. 18, 2006 - Nebraska
  14. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
  15. Powerball: $340 million, Oct. 19, 2005 - Oregon
  16. Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
  17. Powerball: $337 million, Aug. 15, 2012 - Michigan
  18. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
  19. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
  20. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
  21. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
  22. Mega Millions: $326 million, Nov. 4, 2014 - New York
  23. Mega Millions: $319 million, Mar. 25, 2011 - New York
  24. Mega Millions: $315 million, Nov. 15, 2005 - California
  25. Powerball: $314.9 million, Dec. 25, 2002 - West Virginia

For those keeping score, the number of jackpots in the top 25, by lottery game, are:

  • Powerball: 13
  • Mega Millions: 10
  • The Big Game: 2

The Big Game is the original name of Mega Millions, from the game's first drawing on Sep. 6, 1996 through May 14, 2002.  The name was changed to Mega Millions starting with the May 17, 2002 drawing.

Top 25 cash value jackpots

Since many lottery winners collect their winnings in cash, the lump-sum payout is an important measure of what a winning ticket could be worth.

The new Powerball jackpot ranks as the largest lump-sum cash value jackpot in history.

  1. Powerball: $558 million cash, Jan. 9, 2016 ($900 million annuity) - Preliminary estimate, not won yet
  2. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  3. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  4. Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
  5. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
  6. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
  7. Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
  8. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
  9. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
  10. Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
  11. Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
  12. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
  13. Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
  14. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
  15. Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
  16. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
  17. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
  18. Mega Millions: $197.5 million cash, Nov. 4, 2014 ($326 million annuity) - New York
  19. Powerball: $197.4 million cash, Sep. 30, 2015 ($310.5 million annuity) - Michigan
  20. Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
  21. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
  22. The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
  23. Mega Millions: $177.3 million cash, Jan. 16, 2015 ($270 million annuity) - Illinois
  24. Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
  25. Powerball: $170.5 million cash, Dec. 25, 2002 ($314.9 million annuity) - West Virginia

The number of jackpot cash values in the top 25, by lottery game, are:

  • Powerball: 13
  • Mega Millions: 11
  • The Big Game: 1

Lottery Post Staff

Comments

ThatScaryChick's avatarThatScaryChick

I have a feeling that the jackpot will be won tonight!

Party  Party   PartyParty  Party

joshuacloak's avatarjoshuacloak

900 million............ oh my god,  it's getting so close to a billion!

sully16's avatarsully16

Wink Maybe I'll get just a couple more.

THRIFTY

06-40-43-46-61 + 17
01-02-24-30-55 + 04
13-45-52-62-69 + 02
09-47-62-64-67 + 02
12-32-53-60-63 + 17
10-20-21-54-66 + 20
10-33-45-47-63 + 09
08-16-25-39-50 + 22
13-34-51-55-63 + 18
09-28-38-43-57 + 14
08-20-29-43-49 + 04
20-27-30-38-61 + 02
25-26-35-41-46 + 12
02-04-26-29-41 + 07
20-29-48-63-66 + 17
13-39-41-64-69 + 17
22-29-53-61-68 + 22
10-19-36-43-48 + 01
16-26-40-52-67 + 21
09-30-37-39-60 + 07
04-13-28-44-67 + 07
05-07-17-27-41 + 20
02-11-13-47-53 + 09
31-47-50-53-66 + 11
06-12-48-49-52 + 22
14-18-21-39-40 + 12
08-18-19-26-49 + 22
04-14-35-40-60 + 14
10-32-49-50-55 + 17
05-21-23-68-69 + 12
04-10-35-36-46 + 26
01-30-40-50-61 + 20
02-08-44-62-64 + 11
21-26-31-44-64 + 17
07-12-25-27-39 + 12
02-14-32-53-57 + 02
17-28-32-39-47 + 21
01-16-35-39-45 + 10
28-33-35-59-61 + 23
14-27-40-55-66 + 01
04-16-29-43-66 + 03
11-19-45-51-69 + 01
09-35-39-41-68 + 18
03-32-54-60-63 + 21
18-24-51-52-62 + 08
10-16-37-46-48 + 15
03-11-14-44-47 + 23
02-40-42-56-69 + 20
20-29-42-57-67 + 19
08-24-33-42-56 + 03

Tami333's avatarTami333

Quote: Originally posted by sully16 on Jan 9, 2016

Wink Maybe I'll get just a couple more.

Me too!  Just a few more. 

Running out to buy an AED Defibrillator and place it next to me as I check my numbers, just in case.   

Good Luck All!!!!!!!!!!!!  Blue Angel

noise-gate

$900 million- that number is scary good.  Gonna be won by a LP member- just watch! 

Dance

Poo Nanny's avatarPoo Nanny

Its not going to roll over because I am taking this one tonight. However, let's hypotheticaly say it does roll over...could it reach 2 billion?

sully16's avatarsully16

Quote: Originally posted by Tami333 on Jan 9, 2016

Me too!  Just a few more. 

Running out to buy an AED Defibrillator and place it next to me as I check my numbers, just in case.   

Good Luck All!!!!!!!!!!!!  Blue Angel

7 more days until my Birthday, what a great gift to me, lol Party

Artist77's avatarArtist77

Quote: Originally posted by Tami333 on Jan 9, 2016

Me too!  Just a few more. 

Running out to buy an AED Defibrillator and place it next to me as I check my numbers, just in case.   

Good Luck All!!!!!!!!!!!!  Blue Angel

Lol

BBLL's avatarBBLL

One ticket 

One winner

 

Party

duckman's avatarduckman

With the high number of tickets sold, there will be at least one winner and probably more than one winner.

One more thing is also guaranteed: many lottery websites will be have very slow response or will be inaccessible tonight around 11pm to midnight or 1am EST

HaveABall's avatarHaveABall

See Ya!Hi Todd, thanks for another great article! Incidentally, in third paragraph I noticed an error -- please remove the word "graduated." 

Kudos, I'm ready to claim this most exciting yet jackpot this week.

Todd's avatarTodd

Quote: Originally posted by HaveABall on Jan 9, 2016

See Ya!Hi Todd, thanks for another great article! Incidentally, in third paragraph I noticed an error -- please remove the word "graduated." 

Kudos, I'm ready to claim this most exciting yet jackpot this week.

Why would I remove that word?  That's exactly how the payments are made.  They increase each year.

If you're weren't aware of that, go to the Jackpot Analysis page at USA Mega and click the Annuity Payment Schedule link next to your state.

hearsetrax's avatarhearsetrax

specially if I get that single ticket winner

dpoly1's avatardpoly1

Should I purchase an extra ticket?

Cool

HoLeeKau's avatarHoLeeKau

Quote: Originally posted by dpoly1 on Jan 9, 2016

Should I purchase an extra ticket?

Cool

Sure, if you have an extra $2, this month, why not?

I'm headed out to buy a couple more lines myself here in a few minutes.  Just a couple.  Gotta save some money in case it rolls over.  Big Smile

Original Bey's avatarOriginal Bey

....with 10 more hours of purchasing to go.  Shocked

 

 I predict 6 winners.

mrbg's avatarmrbg

I'm predicting 6 winners!!!

sully16's avatarsully16

Quote: Originally posted by mrbg on Jan 9, 2016

I'm predicting 6 winners!!!

I like 7

rj6speed

Quote: Originally posted by mrbg on Jan 9, 2016

I'm predicting 6 winners!!!

Lets hope I'm 1 of them.

Good luck to everyone on LP tonight!

MaximumMillions

It's gonne ba a jungle in the nations 7-11s and gas stations.

s5thomps's avatars5thomps

 

OH...OH....OH..OH...OH...OH...OH...OH....OH.....OH.....          STOP! (PAUSE) HAMMER TIMER!!   

Party                             

THRIFTY

Quote: Originally posted by sully16 on Jan 9, 2016

Wink Maybe I'll get just a couple more.

HIGHER LOTTERY JACKPOTS=HIGHER LOTTERY SALES.

TheGameGrl's avatarTheGameGrl

at best, three ticket jackpot holders. 1 will be a motley gang who worked in a factory. The other two holders will be one hit wonders, who on a whim got a ticket. 

I'll go so far as to say the pb will be #6, or #26.

Poo Nanny's avatarPoo Nanny

How ironic it would be if a office pool of tax collectors won lol.

music*'s avatarmusic*

Quote: Originally posted by TheGameGrl on Jan 9, 2016

at best, three ticket jackpot holders. 1 will be a motley gang who worked in a factory. The other two holders will be one hit wonders, who on a whim got a ticket. 

I'll go so far as to say the pb will be #6, or #26.

Yes, Thanks be to the Fire Departments, Police, Ambulances, Sheriffs, State Police, US Judicial department, and we can never forget our Armed Forces protecting America. Sometimes these are thankless jobs that are not recognized the way they should be.

 May I include some politicians who are not thanked and recognized.

 I forgot Nurses, Doctors, Psychiatrists, Counselors,

 I might as well say,"God Bless America"!

unseen's avatarunseen

There's about a 78 percent chance there will be a winner tonight with close to 429 million tickets sold.

bsdme

OH MY..... what can I say ????? YAHOOO !!!!Banana

music*'s avatarmusic*

sully16, Is your birthday January 16th? What a wonderful birthday present this could be for you! You would make all LP Members proud to be here on this site with you. 

 My birthday is January 22,

MaximumMillions

Somebody wrote about Marie Holmes winning this one. I think there will be riots in that case.ROFL

Prob988

The lottery seems to projecting, at this point, $741M in sales, the number of tickets being sold being half that, to produce a $900M jackpot.

The Poisson distribution for this number of tickets sold, assuming random generation of tickets, produces the following probabilities for numbers of winners:

 

k, number of winners p(m,k)
0 26.74%
1 35.27%
2 23.26%
3 10.23%
4 3.37%
5 0.89%
6 0.20%
7 0.04%
8 0.01%

Although a single winner is the single most probable outcome, followed by a rollover, no single outcome outweighs the combined others.   Anything can happen.   There is a significant possibility that the game has now become a $450M (annuity) or a $300M (annuity) game for any winners.

As things proceed, a rollover becomes less and less likely, although not impossible.    (It is really very, very, very, unlikely that the entire field will be covered as the target for unchosen numbers becomes smaller.)

The expectation value, because of the possibility of smaller jackpot prizes being awarded because of a larger number of winners, is now 0.85, pretax cash basis.

MaximumMillions

Quote: Originally posted by Prob988 on Jan 9, 2016

The lottery seems to projecting, at this point, $741M in sales, the number of tickets being sold being half that, to produce a $900M jackpot.

The Poisson distribution for this number of tickets sold, assuming random generation of tickets, produces the following probabilities for numbers of winners:

 

k, number of winners p(m,k)
0 26.74%
1 35.27%
2 23.26%
3 10.23%
4 3.37%
5 0.89%
6 0.20%
7 0.04%
8 0.01%

Although a single winner is the single most probable outcome, followed by a rollover, no single outcome outweighs the combined others.   Anything can happen.   There is a significant possibility that the game has now become a $450M (annuity) or a $300M (annuity) game for any winners.

As things proceed, a rollover becomes less and less likely, although not impossible.    (It is really very, very, very, unlikely that the entire field will be covered as the target for unchosen numbers becomes smaller.)

The expectation value, because of the possibility of smaller jackpot prizes being awarded because of a larger number of winners, is now 0.85, pretax cash basis.

These calculations don't take multiple identical/duplicate entries into account, correct?

Prolific-Atom

Powerplay should be 10x today. I dont care about the jackpot anymore, second tier will be great for me

joshuacloak's avatarjoshuacloak

You guys do know if it's just 1 winner the media so going to do this outside to the winners neighborhood right?

-  Well, obviously we have the media out in Lincoln Park. Their knocking on your doors, snatchin’ your people up, tryin’ to interview ‘em. So y’all need to hide your kids, hide your wife, and hide your husband cause they’re interviewing’ everybody out here.

btw Todd, how prepared are you for the flood of heavy traffic happening later tonight? LOL

 

- Todd's servers this evening.

ressuccess's avatarressuccess

I hope someone wins this big jackpot tonight.

HoLeeKau's avatarHoLeeKau

Quote: Originally posted by Prolific-Atom on Jan 9, 2016

Powerplay should be 10x today. I dont care about the jackpot anymore, second tier will be great for me

No matter if the powerplay is 10x, the 2nd tier will still only be 2 million.

sully16's avatarsully16

Quote: Originally posted by music* on Jan 9, 2016

sully16, Is your birthday January 16th? What a wonderful birthday present this could be for you! You would make all LP Members proud to be here on this site with you. 

 My birthday is January 22,

Happy Early Birthday and good luck to you. Cheers

dognabit

Hopefully someone will post the numbers after the drawing. I'm fairly certain Powerball's website will crash.

realtorjim

Quote: Originally posted by HoLeeKau on Jan 9, 2016

No matter if the powerplay is 10x, the 2nd tier will still only be 2 million.

Also, the 10x powerplay is only applicable to jackpots at or below $150 million.

Original Bey's avatarOriginal Bey

Quote: Originally posted by dognabit on Jan 9, 2016

Hopefully someone will post the numbers after the drawing. I'm fairly certain Powerball's website will crash.

USA mega, the sister site to LP is always on the money with positing timely results and it can handle the traffic. Todd works around the clock on a normal day so I can only imagine how hard he is working now. 

 

THANKS TODD FOR ALL YOU DO!

Todd's avatarTodd

Quote: Originally posted by Original Bey on Jan 9, 2016

USA mega, the sister site to LP is always on the money with positing timely results and it can handle the traffic. Todd works around the clock on a normal day so I can only imagine how hard he is working now. 

 

THANKS TODD FOR ALL YOU DO!

I'm going to do all I can do to keep Lottery Post and USA Mega up and responsive.  Expect at the very least some slowness as millions of people hit the sites all at once.

Candy-Lane's avatarCandy-Lane

Thank-you Todd for your accurate and up-to-the-minute Lottery News!

Whenever I see the name Todd Northrop in an article about The Lottery, whether at Lottery Post or, elsewhere, I always read the article because I know the information will be both informative and, accurate!

Thanks again Todd!

Todd's avatarTodd

Quote: Originally posted by Candy-Lane on Jan 9, 2016

Thank-you Todd for your accurate and up-to-the-minute Lottery News!

Whenever I see the name Todd Northrop in an article about The Lottery, whether at Lottery Post or, elsewhere, I always read the article because I know the information will be both informative and, accurate!

Thanks again Todd!

Big Grin This makes me smile, thanks!

veganlife125's avatarveganlife125

While everyone was hee hawing i said first on Wednesday January 6th 1:20pm in the threads hours before last Wednesdays powerball draw that went to 524 million that it would hit a billion dollars on Saturday the 9th with no winner.  Don't hee haw people.  Take a stand early and make a prediction right or wrong.  Early bird gets the worm.

While im 1 for 1 lets make another early prediction.  No one will win tonight.  It will roll to 1.6 billion for next Wednesday nights draw and a single ticket will win it all at that time.

Good luck and may one of us win it all.  If we do lets do Todd a favor and wear one of his lotterypost t-shirts/tank tops to the press conference! 

While we are all having delusions of grandeur right now let me go all the way with it.  If i win the press conference will be held at the "TRUMP HOTEL LAS VEGAS".  The press conference table will be for seven people.  Dad, Mom, Brother, Donald Trump, Warren Buffet, Todd, and Me of course!   

Todd you in?Big Grin

Prolific-Atom

Quote: Originally posted by HoLeeKau on Jan 9, 2016

No matter if the powerplay is 10x, the 2nd tier will still only be 2 million.

I know that, i just think will be nice to win 500k for 4+PB

Todd's avatarTodd

Quote: Originally posted by veganlife125 on Jan 9, 2016

While everyone was hee hawing i said first on Wednesday January 6th 1:20pm in the threads hours before last Wednesdays powerball draw that went to 524 million that it would hit a billion dollars on Saturday the 9th with no winner.  Don't hee haw people.  Take a stand early and make a prediction right or wrong.  Early bird gets the worm.

While im 1 for 1 lets make another early prediction.  No one will win tonight.  It will roll to 1.6 billion for next Wednesday nights draw and a single ticket will win it all at that time.

Good luck and may one of us win it all.  If we do lets do Todd a favor and wear one of his lotterypost t-shirts/tank tops to the press conference! 

While we are all having delusions of grandeur right now let me go all the way with it.  If i win the press conference will be held at the "TRUMP HOTEL LAS VEGAS".  The press conference table will be for seven people.  Dad, Mom, Brother, Donald Trump, Warren Buffet, Todd, and Me of course!   

Todd you in?Big Grin

Sounds like fun, I'm in.

No hee-hawing, I promise.

realtorjim

Quote: Originally posted by MaximumMillions on Jan 9, 2016

These calculations don't take multiple identical/duplicate entries into account, correct?

Though the hard data involved isn't presented, since it was established to be based on sales, repeat tickets would seem to be within the parameters.  This is verified through the percentage calculations of possible multiple winners.  Without accountable multiple entries a multiple winner scenario could not exist.  Just my observation, however.

Goteki54's avatarGoteki54

If nobody hits this tonight, it will be worth $1.3 billion dollars!!! The power ball folks who decided to change the number matrix must be giving themselves high fives for their decision.Banana

CARBOB

Does anyone that lives in Orlando, know the time and the station, that televise the drawing??

BBLL's avatarBBLL

Quote: Originally posted by joshuacloak on Jan 9, 2016

You guys do know if it's just 1 winner the media so going to do this outside to the winners neighborhood right?

-  Well, obviously we have the media out in Lincoln Park. Their knocking on your doors, snatchin’ your people up, tryin’ to interview ‘em. So y’all need to hide your kids, hide your wife, and hide your husband cause they’re interviewing’ everybody out here.

btw Todd, how prepared are you for the flood of heavy traffic happening later tonight? LOL

 

- Todd's servers this evening.

I would leave the country so fast

Nikkicute's avatarNikkicute

Quote: Originally posted by dognabit on Jan 9, 2016

Hopefully someone will post the numbers after the drawing. I'm fairly certain Powerball's website will crash.

I'm sure our local stations will be showing the draw live tonight, they did the last time the lotto jackpot was large.

BuyLow's avatarBuyLow

Quote: Originally posted by CARBOB on Jan 9, 2016

Does anyone that lives in Orlando, know the time and the station, that televise the drawing??

Channel 6, 10:59

 

Also.....You can watch the drawing live on ClickOrlando.com. Download the free News 6 App to watch the drawing live.

jjtheprince

I'm thinkin this won't roll.  As strong as sales are, probably EVERY number combination available has been sold.  I wonder how many winners there could be.  If birthday numbers are drawn I wouldn't be shocked to see up to 25 jackpot winners.

MaximumMillions

9 hours to go.

dognabit

Yes, a big thank you to Todd for all the hard work he puts in.

Spiritualist

I noticed that the Lotter site has been down for almost 24 hours now. 

 

Quite possibly they can't handle all the sales coming their way.

BBLL's avatarBBLL

I  just read a yahoo article, saying I would only take jome 255 million and usamega said 300 and something. How do I calculate lump sum after taxes?

BuyLow's avatarBuyLow

Based on lines I'm seeing where there are normally none, they may raise this to $1,000,000,000.00 PRIOR to the drawing....we shall see!

Prob988

Quote: Originally posted by MaximumMillions on Jan 9, 2016

These calculations don't take multiple identical/duplicate entries into account, correct?

Yes they do.   The show the probabilities of various numbers of winners assuming a randomized sampling, and the expectation value is weighted for the size of the prizes that would be won by multiple winners.

MaximumMillions

Quote: Originally posted by BBLL on Jan 9, 2016

I  just read a yahoo article, saying I would only take jome 255 million and usamega said 300 and something. How do I calculate lump sum after taxes?

https://www.usamega.com/powerball-jackpot.asp

HoLeeKau's avatarHoLeeKau

Quote: Originally posted by BBLL on Jan 9, 2016

I  just read a yahoo article, saying I would only take jome 255 million and usamega said 300 and something. How do I calculate lump sum after taxes?

Go to a tax estimator and fill in your info for a quick estimate.  I like turbotax myself.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

jacintasc

The Billboard along the highway now reads "OVER 900 Million"

HoLeeKau's avatarHoLeeKau

I just bought my last 2 tickets at noon at Albertson's.  Nobody was at the machines at all.  I glanced over to the customer service desk and there was only one person.  Dunno if he was buying Powerballs or not.  No fever in Idaho!

Deeyar948

65% chance there will be a winner tonight

Nikkicute's avatarNikkicute

Quote: Originally posted by Spiritualist on Jan 9, 2016

I noticed that the Lotter site has been down for almost 24 hours now. 

 

Quite possibly they can't handle all the sales coming their way.

Looks like your not the only one, I"m reading an article with Twitter posts and many cannot get in.

That site is on overdrive!

Original Bey's avatarOriginal Bey

I just checked for funsies. The site is up but the option to play Powerball for this historical drawing has closed.

larmanya

I'm not a tax lawyer/CPA, but I just take the cash value and multiply it by .604 (the inverse of .396) to account for federal taxes. I don't have a state tax, so $558 million is worth $337 million to me. The "25% federal withholding" is just how much they take out, you still have to pay the rest of it yourself, meaning the check will come for $418.5 million and I'll have to write another check to the IRS for $81.5 million or so.

Yeah, deductions can reduce that, but lottery winners lose up to 80% of deductions (including for charity) because of something called the Pease limitation. There's no limit on gambling losses against wins, though, so if I lose $1m playing blackjack at Caesars Palace the IRS gives me $396,000 in a break, but if I give $1m to a charity I get $79,200. Again, not a lawyer/CPA, but it seems like you should do charity because you want to, not for the tax break.

yellowpig

hmm so right now saw about a 75-80% chance of a winner and 1.3B to start if it rolls

One-Day

ANNUITY ALL THE WAY BAAAAAABYYYYYY!  lol.  She will roll.  Wednesday is the big day, not today, not today.

HoLeeKau's avatarHoLeeKau

NO WAY this will roll!  Unthinkable!

MaximumMillions

Quote: Originally posted by HoLeeKau on Jan 9, 2016

NO WAY this will roll!  Unthinkable!

I'd love to see it.Banana

jacintasc

I think Steve Harvey should announce the winner of this!LOL

Romancandle's avatarRomancandle

Oh boy... if it rolled... I would not want to be a clerk selling tickets to all the maniacs the next few days.

Groppo's avatarGroppo

Quote: Originally posted by MaximumMillions on Jan 9, 2016

https://www.usamega.com/powerball-jackpot.asp

Yes, I examine that jackpot analysis, often.

And, I'm so glad to be living  near to a no-lotto-tax state, where I go to play.

My lame heavy-lotto tax state, rarely gets my business anymore.

Groppo's avatarGroppo

Quote: Originally posted by jacintasc on Jan 9, 2016

I think Steve Harvey should announce the winner of this!LOL

Oh No!

I don't think he'd be allowed.

BuyLow's avatarBuyLow

Quote: Originally posted by Groppo on Jan 9, 2016

Yes, I examine that jackpot analysis, often.

And, I'm so glad to be living  near to a no-lotto-tax state, where I go to play.

My lame heavy-lotto tax state, rarely gets my business anymore.

I "think" you would still owe state taxes because its based on where you live when you win.  I'm no CPA so take it for what its worth.

Groppo's avatarGroppo

Quote: Originally posted by HoLeeKau on Jan 9, 2016

Go to a tax estimator and fill in your info for a quick estimate.  I like turbotax myself.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Please, don't even joke about a thing like that.
That's so ludicrous.  If that were the case, there'd be riots outside of every 7/11 and Circle K store.

Please, Folks, chime in.  I don't want to be known as the "billionaire lotto winner", and only have 300 to my name.  Though I'm positive I won't win anything significant tonight.

(and probably the state capitol building too)

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by THRIFTY on Jan 9, 2016

HIGHER LOTTERY JACKPOTS=HIGHER LOTTERY SALES.

You get to dream the same dream for $2 with one ticket that someone who buys 1,000 tickets.

The only thing is, after the both of you find out you didn't win, you say oh well, there's always next time. While the person who spent $2,000 on tickets says...Oh SH*T, how am I going to pay my (rent, mortgage, car payment, credit card payments...etc)

Play with your head....Not over it.Party

Groppo's avatarGroppo

Quote: Originally posted by HoLeeKau on Jan 9, 2016

I just bought my last 2 tickets at noon at Albertson's.  Nobody was at the machines at all.  I glanced over to the customer service desk and there was only one person.  Dunno if he was buying Powerballs or not.  No fever in Idaho!

No apparent lotto fever in Idaho?

WOW!

What does happen in Idaho, besides potatoes?

KY Floyd's avatarKY Floyd

Quote: Originally posted by HoLeeKau on Jan 9, 2016

NO WAY this will roll!  Unthinkable!

A lot of people are saying that, but they either have absolutely no idea how many combinations will be sold or they have a really funny idea of "no way", "won't", "incredibly unlikely" or most of the terms being used. Even if it hits a billion 20% of combinations will still be unsold. That means we should expect at least a 1 in 5 chance that it will roll again.

The part that puzzles me the most is people thinking there's so little chance of another roll when it's still several million times more likely than them having a winning ticket.

Romancandle's avatarRomancandle

Quote: Originally posted by Groppo on Jan 9, 2016

Please, don't even joke about a thing like that.
That's so ludicrous.  If that were the case, there'd be riots outside of every 7/11 and Circle K store.

Please, Folks, chime in.  I don't want to be known as the "billionaire lotto winner", and only have 300 to my name.  Though I'm positive I won't win anything significant tonight.

(and probably the state capitol building too)

No joke ... Most folks would clear around 300 million after taxes if taking the lump sum.

Ron5995

MUSL may be overestimating sales. We'll see tonight. Unlike some in-state lotteries, MUSL does not honor its estimates. At least they didn't back in 2013 when they touted a $600 million annuity Powerball jackpot, and yet the Florida winner was only awarded ~$590 million...

Most didn't notice that deception. However, this time around, if MUSL raises the estimate to $1 billion and only pays out, say $940 million, many will notice that, and talk about it; some feeling cheated. Hopefully, MUSL is extra careful before raising the estimate again to $1 billion.

TheMeatman2005's avatarTheMeatman2005

That is why they say...The estimated annuitized jackpot is....

That way it can go either way, higher or lower.

Groppo's avatarGroppo

Quote: Originally posted by Romancandle on Jan 9, 2016

No joke ... Most folks would clear around 300 million after taxes if taking the lump sum.

But, that's such a doggone rip-off.  Why should over half go to taxes.

IPlayWeekly's avatarIPlayWeekly

Generational wealth... good luck my fellow members

Groppo's avatarGroppo

Quote: Originally posted by IPlayWeekly on Jan 9, 2016

Generational wealth... good luck my fellow members

Good luck to you too.

MaximumMillions

Quote: Originally posted by Ron5995 on Jan 9, 2016

MUSL may be overestimating sales. We'll see tonight. Unlike some in-state lotteries, MUSL does not honor its estimates. At least they didn't back in 2013 when they touted a $600 million annuity Powerball jackpot, and yet the Florida winner was only awarded ~$590 million...

Most didn't notice that deception. However, this time around, if MUSL raises the estimate to $1 billion and only pays out, say $940 million, many will notice that, and talk about it; some feeling cheated. Hopefully, MUSL is extra careful before raising the estimate again to $1 billion.

Didn't she take the lump sum anyway?

Tami333's avatarTami333

As my Favorite 80's band Europe would say it........"It's the Final Countdown"  Good luck everyone!

Europe - The Final Countdown

Groppo's avatarGroppo

Quote: Originally posted by TheMeatman2005 on Jan 9, 2016

You get to dream the same dream for $2 with one ticket that someone who buys 1,000 tickets.

The only thing is, after the both of you find out you didn't win, you say oh well, there's always next time. While the person who spent $2,000 on tickets says...Oh SH*T, how am I going to pay my (rent, mortgage, car payment, credit card payments...etc)

Play with your head....Not over it.Party

That's a good point.

 

(but "meatman"?  What is he a butcher, or something)

BuyLow's avatarBuyLow

Will it be ?????

 

Groppo's avatarGroppo

Quote: Originally posted by BuyLow on Jan 9, 2016

Will it be ?????

 




Too doggone funny.

Ron5995

Quote: Originally posted by TheMeatman2005 on Jan 9, 2016

That is why they say...The estimated annuitized jackpot is....

That way it can go either way, higher or lower.

Putting "estimated" or an asterisk may be sufficient, but not necessarily in regards to deceptive advertising. Worse, not all Powerball jackpot advertising even includes those elements...

For example, see NY Lottery website. http://nylottery.ny.gov/ - "NEXT JACKPOT: $900 MILLION". Notice what's not included next to the $900 million. No "estimate", no asterisk, nothing. At first glance, it appears the Powerball jackpot is definitely $900 million. And that's just one example out of many.

HoLeeKau's avatarHoLeeKau

Quote: Originally posted by Groppo on Jan 9, 2016

No apparent lotto fever in Idaho?

WOW!

What does happen in Idaho, besides potatoes?

What happens in Idaho stays in Idaho.

Mainly because happenings are so dang boring that you can't pay someone to even listen to you tell about what happened, let alone spread gossip about what happened.

Quick illustration.  For NYE Idaho has a potato drop.  Yes, we molded a humongous <snip> potato out of foam rubber and at the stroke of midnight it drops off a crane or something while everyone cheers.

TheMeatman2005's avatarTheMeatman2005

Over half doesn't go to taxes.

You get the estimated amount only if you take the annuity. If you take lump sum, you get a one-time cash payment of what the lottery would have invested on your behalf to generate the annuitized value over 29 years.

Federal tax of 25% and part of the state taxes is withheld from the payment. When you file your 1040 tax form, you will have to pay the difference. That would be 14.6% (federal maximum tax of 39.6% - 25% which was deducted from payment) plus remaining state and or local taxes.

Any way you look at it, you will end up with about 51-60.4% of whichever payment method you choose.

Soviet

Quote: Originally posted by Groppo on Jan 9, 2016

No apparent lotto fever in Idaho?

WOW!

What does happen in Idaho, besides potatoes?

Hot Idaho girls flirting with you.

frank0sport16

Greetings ...

BTW -- This is my very post as a Lottery Post member

I'm hoping that those wanting to see a super-humongous single winning ticket will have a wicked curve thrown at them tonite. In what way, you ask?

Simple -- let there be at least 10 winning tickets and possibly as many as 20 winners when it's all done. Of course, I'd like to be one of those 10 to 20 lucky winners.

I'm sure that other posters have posted up sound advice for those lucky enough to win all or a part of the PowerBall Grand Prize elsewhere, but if not minded I think it's only fair to give it out again.

If you win --

»1» Don't tell anyone other than your legal and financial advisors. If you're part of an office pool or family group who are sharing the winning ticket with you, then they are the only non-legal folks who need to know

»2» Establish a legal trust (either for yourself alone or with those mutually agreeing to share the prize). In many states, a trust may help to to keep you (and others) anonymous, thus protecting your identity. Of course you should always  check out the specific rules in play for the state where you are claiming your winning ticket.

»3» Spend no more than 10% (less than that would be great) of your after taxes share within the first year. At least 65% of what is not spent should go into special reserve accounts, while at least 35% of what is not spent should go into a cash flow account. The purpose of the cash flow account is to place a fixed amount of money into regular bank accounts each month. Your lifestyle should be simple, non-extravagant  and a rigidly fixed flow of cash should help keep you on a straight and narrow path.

That's about it.
Thanx-A-Lot and best of luck to all,
Frank0Sport16

OldSchoolPa's avatarOldSchoolPa

Inquiring minds are wondering if Marie Holmes is blowing the rest of her Mega Millions winnings in an effort to win Powerball?!

BDUB211

If you take the lump sum, they take 25% out in taxes before you even get it, then the following April, it's something like another 15%, provided you live in a state with no taxes or one that doesn't tax lottery winnings and provided you're the only winner, you come home with roughly $355,725,000. I don't know about anyone else, but I wouldn't complain.

travelintrucker's avatartravelintrucker

My birthday is in January as well.

music*'s avatarmusic*

 Texas lottery official said the "billion" word. Gary Grief has said on CNN with Poppy Harlow that if it rolls then a conservative estimate would be $1.3 Billion dollars for Wednesday night. I think he is being too conservative. I guess that is normal for lottery officials.

 I will not be surprised if tonight we are playing for a billion.

whiteballz's avatarwhiteballz

Anyone still think the matrix change was a bad idea?

Romancandle's avatarRomancandle

Quote: Originally posted by frank0sport16 on Jan 9, 2016

Greetings ...

BTW -- This is my very post as a Lottery Post member

I'm hoping that those wanting to see a super-humongous single winning ticket will have a wicked curve thrown at them tonite. In what way, you ask?

Simple -- let there be at least 10 winning tickets and possibly as many as 20 winners when it's all done. Of course, I'd like to be one of those 10 to 20 lucky winners.

I'm sure that other posters have posted up sound advice for those lucky enough to win all or a part of the PowerBall Grand Prize elsewhere, but if not minded I think it's only fair to give it out again.

If you win --

»1» Don't tell anyone other than your legal and financial advisors. If you're part of an office pool or family group who are sharing the winning ticket with you, then they are the only non-legal folks who need to know

»2» Establish a legal trust (either for yourself alone or with those mutually agreeing to share the prize). In many states, a trust may help to to keep you (and others) anonymous, thus protecting your identity. Of course you should always  check out the specific rules in play for the state where you are claiming your winning ticket.

»3» Spend no more than 10% (less than that would be great) of your after taxes share within the first year. At least 65% of what is not spent should go into special reserve accounts, while at least 35% of what is not spent should go into a cash flow account. The purpose of the cash flow account is to place a fixed amount of money into regular bank accounts each month. Your lifestyle should be simple, non-extravagant  and a rigidly fixed flow of cash should help keep you on a straight and narrow path.

That's about it.
Thanx-A-Lot and best of luck to all,
Frank0Sport16

Howdy Frank

Wicked curve ball at all those dreamers?  Ouch Frank

So it's simple- can you back that up with some facts and figures... 10-20 seems kinda high to me Disapprove

dallascowboyfan's avatardallascowboyfan

WOW!!!!$900 million !!!! Thud

Bleudog101

Keep waiting for Todd to announce it has gone to $1 Billion.  Maybe they won't allow since all the LED signs I've seen in surrounding states only have three spots available!

travelintrucker's avatartravelintrucker

My birthday is the 21st.

sully16's avatarsully16

Quote: Originally posted by jacintasc on Jan 9, 2016

I think Steve Harvey should announce the winner of this!LOL

And the winner is Eddie Tipton, lol

Groppo's avatarGroppo

Quote: Originally posted by Ron5995 on Jan 9, 2016

Putting "estimated" or an asterisk may be sufficient, but not necessarily in regards to deceptive advertising. Worse, not all Powerball jackpot advertising even includes those elements...

For example, see NY Lottery website. http://nylottery.ny.gov/ - "NEXT JACKPOT: $900 MILLION". Notice what's not included next to the $900 million. No "estimate", no asterisk, nothing. At first glance, it appears the Powerball jackpot is definitely $900 million. And that's just one example out of many.

I hate deceptive advertising. But, I may not think it's too impossible.

When I think of all the people betting tonight, losing sleep over how much they'll play, thinking about the food they're taking of their kids mouths, etc. (I have no kids).

I got my tickets, and I don't even know how many. I got enough to make me feel guilty, and still left believing/knowing I won't win a dime.

So, why do I do it?  That's the question.

Because, it's the biggest thing going on today! 
Nothing compares to this event, this evening, at 11:00 PM Eastern Time.

This is History.  I've never been part of a historical thing. 

Remember to save your tickets, tonight, if they're not significant winners.
Or, at least remember to ask for a receipt.  It should be worth something on ebay some day.

music*'s avatarmusic*

Quote: Originally posted by BDUB211 on Jan 9, 2016

If you take the lump sum, they take 25% out in taxes before you even get it, then the following April, it's something like another 15%, provided you live in a state with no taxes or one that doesn't tax lottery winnings and provided you're the only winner, you come home with roughly $355,725,000. I don't know about anyone else, but I wouldn't complain.

 The winner will need to ask the IRS about "estimated quarterly tax payments". This is a common tax payment by businesses. The amounts will be incredible.

 BDUB211, I agree with your figure of $355,725,000.00 Lump Sum for this $900 million jackpot.I Agree!

Original Bey's avatarOriginal Bey

Quote: Originally posted by Romancandle on Jan 9, 2016

Howdy Frank

Wicked curve ball at all those dreamers?  Ouch Frank

So it's simple- can you back that up with some facts and figures... 10-20 seems kinda high to me Disapprove

I Agree!

 

I  think some people look at the size of the current jackpot and think that number of tickets was sold in the current drawing. The odds are 1 in 292+million. 10 people won't beat those odds. I say 6 at best.

sully16's avatarsully16

Quote: Originally posted by travelintrucker on Jan 9, 2016

My birthday is the 21st.

Happy Birthday.

HoLeeKau's avatarHoLeeKau

Quote: Originally posted by sully16 on Jan 9, 2016

And the winner is Eddie Tipton, lol

Green laugh

That does it, if I win this jackpot tonight I was planning to change my name to remain anonymous.  My new name WILL be Eddie Tipton.

JoeCanWin

Quote: Originally posted by sully16 on Jan 9, 2016

And the winner is Eddie Tipton, lol

Sully, now that is funny AND scary, all at the same time! Good one though. Good Luck to you tonight.

travelintrucker's avatartravelintrucker

I had a long day. I got up at 4:30 and drove down across the Florida line to play 10 lines of Florida Lotto for 20 draws. Then drove home to South Carolina. I stopped at my favorite store to load up on Mega and PB. The Travelintrucker is officially in the 900 Mil jackpot draw tonight. Good luck players!

Nikkicute's avatarNikkicute

Quote: Originally posted by MaximumMillions on Jan 9, 2016

Didn't she take the lump sum anyway?

Who Gloria? She was 84 years old, she had to take the lump sum lolLOL

Groppo's avatarGroppo

Quote: Originally posted by HoLeeKau on Jan 9, 2016

Green laugh

That does it, if I win this jackpot tonight I was planning to change my name to remain anonymous.  My new name WILL be Eddie Tipton.

Is that any relation to Glenn Tipton, guitarist of Judas Priest?

Romancandle's avatarRomancandle

"By early Saturday afternoon, officials with the lottery calculated that tickets were selling, on average, at a pace of more than $7,700 a second, or almost $28 million an hour."

Cut and Paste from NY Times article today Crazy

Groppo's avatarGroppo

Quote: Originally posted by travelintrucker on Jan 9, 2016

I had a long day. I got up at 4:30 and drove down across the Florida line to play 10 lines of Florida Lotto for 20 draws. Then drove home to South Carolina. I stopped at my favorite store to load up on Mega and PB. The Travelintrucker is officially in the 900 Mil jackpot draw tonight. Good luck players!

Good luck Mr. Travelin'Trucker,

I know what it's like to have to drive that big 18 wheeler. I hated it. I'd rather be rich too.

Illinoisdreamer

Bought myself a few more lines from machine ($10) all QP

So I am playing overall one line of my #'s and six QP... As for tax discussion at end of day you will still be filthy rich if you win so just hire some good advisors and keep you head on straight after win and you should be more then set for life


All I would want is a home (800k-1M) and to take care of my family (Parents/Brother/Sister + Her Husband) and a few select extended family and then I would be happy man


It would be great to never have to worry about $ again

maximumfun's avatarmaximumfun

Good luck to everyone!  im still  holding out for 1 or more winners from LP.

BDUB211

Wondering if I should grab another ticket or 2? I have 5

jacintasc

Quote: Originally posted by BuyLow on Jan 9, 2016

Will it be ?????

 

Hilarious! I Liked your NeNe Leakes post too!LOL

Nodda4me's avatarNodda4me

So the ULTIMATE QUESTION HERE IS...

 

IF I BUY A $2 TICKET... .... ........

WILL I WIN?

Illinoisdreamer

Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


Or is that 1M the actual prize and after taxes you end up with 650k or so?

Spiritualist

Quote: Originally posted by whiteballz on Jan 9, 2016

Anyone still think the matrix change was a bad idea?

I think it's a great idea!

TnTicketlosers's avatarTnTicketlosers

Good luck to all the players,my husband ask me if I played..I said no in TENN. he said good girl...I hope there is multy winners.

jacintasc

Quote: Originally posted by OldSchoolPa on Jan 9, 2016

Inquiring minds are wondering if Marie Holmes is blowing the rest of her Mega Millions winnings in an effort to win Powerball?!

Who said she had any left?Crazy

Nodda4me's avatarNodda4me

Quote: Originally posted by Illinoisdreamer on Jan 9, 2016

Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


Or is that 1M the actual prize and after taxes you end up with 650k or so?

If you win $1 million, you will get maybe 380k after taxes as a lump sum. Maybe around 600k or something if you take the annuity.

Guru101's avatarGuru101

Billion dollar jackpot come draw time.

Nodda4me's avatarNodda4me

Let's make a LP LP. (Lottery Post Lottery Pool)

 

That way we'll all win if someone wins...

Groppo's avatarGroppo

Quote: Originally posted by Illinoisdreamer on Jan 9, 2016

Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


Or is that 1M the actual prize and after taxes you end up with 650k or so?

That seems to be the big question.

Especially with the 900 mil.

I don't believe some of the opinions coming this way.

But, you could for instance look at California's payouts on a typical win, and judge from that? maybe?

Groppo's avatarGroppo

Quote: Originally posted by Nodda4me on Jan 9, 2016

Let's make a LP LP. (Lottery Post Lottery Pool)

 

That way we'll all win if someone wins...

I agree with this motion.   The LPLP.

Anyone else?

(there are so many little things I want to get. Like a Jeep, for one)

slotsarefun's avatarslotsarefun

It would bust your bubble if she won again Blue Angel

dpoly1's avatardpoly1

Quote: Originally posted by BBLL on Jan 9, 2016

One ticket 

One winner

 

Party

I agree!

JoeCanWin

Quote: Originally posted by TheMeatman2005 on Jan 9, 2016

Over half doesn't go to taxes.

You get the estimated amount only if you take the annuity. If you take lump sum, you get a one-time cash payment of what the lottery would have invested on your behalf to generate the annuitized value over 29 years.

Federal tax of 25% and part of the state taxes is withheld from the payment. When you file your 1040 tax form, you will have to pay the difference. That would be 14.6% (federal maximum tax of 39.6% - 25% which was deducted from payment) plus remaining state and or local taxes.

Any way you look at it, you will end up with about 51-60.4% of whichever payment method you choose.

You said:

"If you take lump sum, you get a one-time cash payment of what the lottery would have invested on your behalf to generate the annuitized value over 29 years."

I'm confused because:

1) I thought that if the winner took the one-time lump sum payment, they got what was in the JP from players that bought tickets, which is what builds the JP.

2) I thought the annuity payments included the estimated JP, which of course includes the interest earned over 29 years AND the ticket sales.

What I'm asking is this:

Why would the one-time lump-sum payment consist of the interest from the annuity payments, instead of the amount collected from the actual ticket sales?

What you said above just doesn't make sense to me. (I'm not saying you are wrong) I'm just confused, as I thought I understood the JP payout(s) as I just explained.

 

Thanks and Good Luck tonight!

rustysmom's avatarrustysmom

Quote: Originally posted by Illinoisdreamer on Jan 9, 2016

Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


Or is that 1M the actual prize and after taxes you end up with 650k or so?

actual amount

slotsarefun's avatarslotsarefun

I don't care what I owe in taxes!!!?? It would be more than what I started my day with!

ekem6078's avatarekem6078

Quote: Originally posted by ThatScaryChick on Jan 9, 2016

I have a feeling that the jackpot will be won tonight!

Party  Party   PartyParty  Party

I Agree!

Groppo's avatarGroppo

Quote: Originally posted by slotsarefun on Jan 9, 2016

I don't care what I owe in taxes!!!?? It would be more than what I started my day with!

Yes, I agree.  But everyone must pay taxes.
Don't neglect your taxes. Take care of your tax
situation asap.



Leave nothing out there, that could cause a snag.

Groppo's avatarGroppo

Quote: Originally posted by ekem6078 on Jan 9, 2016

I Agree!

I Agree!

Guru101's avatarGuru101

Quote: Originally posted by JoeCanWin on Jan 9, 2016

You said:

"If you take lump sum, you get a one-time cash payment of what the lottery would have invested on your behalf to generate the annuitized value over 29 years."

I'm confused because:

1) I thought that if the winner took the one-time lump sum payment, they got what was in the JP from players that bought tickets, which is what builds the JP.

2) I thought the annuity payments included the estimated JP, which of course includes the interest earned over 29 years AND the ticket sales.

What I'm asking is this:

Why would the one-time lump-sum payment consist of the interest from the annuity payments, instead of the amount collected from the actual ticket sales?

What you said above just doesn't make sense to me. (I'm not saying you are wrong) I'm just confused, as I thought I understood the JP payout(s) as I just explained.

 

Thanks and Good Luck tonight!

Joe, you're thinking of it backwards. The cash value isn't determined by the annuity value. The annuity value is determined by the cash value.

Piaceri

If they bump it I'm buying 2 more tickets, 1 cash option, 1 annuity just so I can have a ticket that says $1,000,000,000.

 

Good luck to all tonight!

 

DancePartyHyperBananaPartyHurray!Dance

 

Group Hug

En ReVal

I think she won Powerball not Mega Millions

Illinoisdreamer

Quote: Originally posted by rustysmom on Jan 9, 2016

actual amount

Thank You


So if you mach 5 after taxes you still come out with decent chunk (650k or so)

Obviously not enough to quit working/etc but more then enough to buy a small home and get some financial stability short term

Bleudog101

Quote: Originally posted by Illinoisdreamer on Jan 9, 2016

Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


Or is that 1M the actual prize and after taxes you end up with 650k or so?

Depends on state tax what you'd get for five #'s; however that is a good ballpark figure.  I'd pay the house off and quit my job since I get an Army pension anyway for incidentals.  Good luck

sookie's avatarsookie

Ok I got my tickets, I have my plans together for the next few days. I know how much my parents and siblings get. I'm ready!

ekem6078's avatarekem6078

Quote: Originally posted by jjtheprince on Jan 9, 2016

I'm thinkin this won't roll.  As strong as sales are, probably EVERY number combination available has been sold.  I wonder how many winners there could be.  If birthday numbers are drawn I wouldn't be shocked to see up to 25 jackpot winners.

"If birthday numbers are drawn I wouldn't be shocked to see up to 25 jackpot winners."  That's why it's best not to play birthdays are anniversaries numbers, you will be sharing the jackpot if others win.   Better to get Q-Picks.

Romancandle's avatarRomancandle

Quote: Originally posted by Illinoisdreamer on Jan 9, 2016

Thank You


So if you mach 5 after taxes you still come out with decent chunk (650k or so)

Obviously not enough to quit working/etc but more then enough to buy a small home and get some financial stability short term

If you powerplay... You could win 2 million in that scenario...

Suzy-Dittlenose

I gave in a bought some more tickets today.

 

I wonder if Bill Gates or Warren Buffet thinks this billion is "chump-change."   Anyone want to change their name to "Chump"?

LOL

JustByLuck

   I spent $12 on the Powerball tickets. I just want to pay off my debts and those of my loved ones (student loans, medical bills, credit cards) just to be free from debt. If I could be lucky to be the sole winner, who knows, it might happen.Spending the money on expensive items will not be a priority of mine .Thinking on how to invest the money properly and being able to go back to school to further my education and becoming comfortably self-employed/employer would be a dream of mine.

 

   To everyone who has a negative connotation about taxes, I sympathise with you and, understand your complaints but, think about it, this is a TITANIC lottery jackpot ,while many do not necessarily agree about the taxes being taken off of the lump sum, the take home amount does outweigh the investment, provided it is an investment that you are comfortable to part with. Good Luck to all and who knows, we might get to the desired  $1 billion mark before tonight's draw.

Nodda4me's avatarNodda4me

Quote: Originally posted by Suzy-Dittlenose on Jan 9, 2016

I gave in a bought some more tickets today.

 

I wonder if Bill Gates or Warren Buffet thinks this billion is "chump-change."   Anyone want to change their name to "Chump"?

LOL

You are joining the lottery pool right?

greeneye's avatargreeneye

The winner will not be a billionaire unless the pot is a least 1.7 billion  ..

ekem6078's avatarekem6078

Quote: Originally posted by jacintasc on Jan 9, 2016

I think Steve Harvey should announce the winner of this!LOL

LOLAnd you got jokes Ha Ha.  Even with his mistake, Steves got more money than you would ever dream of, and is invited back to host it next year.   

Get over yourself & focus on getting the powerball numbers right or clock in on Monday morning like the rest of us.  Now LOLat that.

ekem6078's avatarekem6078

Glad I don't live in ILL & win.  Wow I'll hate to win an later get a IOU   LMAO.

TheMeatman2005's avatarTheMeatman2005

If you don't buy any tickets, you are 100% guaranteed not to win anything!

Got to be in it to win itParty

ekem6078's avatarekem6078

Quote: Originally posted by Groppo on Jan 9, 2016

But, that's such a doggone rip-off.  Why should over half go to taxes.

I don't care if half go to taxes.  I only paid $2.00.   "I didn't wake up this morning a millionary did you?"    I'll take 1, 2, 3, 4 or 5 right now.  Even 500,000  would suit me fine lol.   I'm not greedy lol.

ekem6078's avatarekem6078

Quote: Originally posted by TheMeatman2005 on Jan 9, 2016

If you don't buy any tickets, you are 100% guaranteed not to win anything!

Got to be in it to win itParty

I Agree!"What you said"     Can't win if you don't play.

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by Illinoisdreamer on Jan 9, 2016

Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


Or is that 1M the actual prize and after taxes you end up with 650k or so?

It's a $1 million cash prize for 5 numbers without the Powerball number.

Then you have to pay taxes on the $1 million, so you end up with anywhere from 60.4% to roughly 51% of the $1 mil after taxes depending on the state you live in.

Nodda4me's avatarNodda4me

If I won the jackpot, I'd keep 10 milllion and donate the other 890 (minus taxes) to random people.

BBLL's avatarBBLL

Quote: Originally posted by TheMeatman2005 on Jan 9, 2016

If you don't buy any tickets, you are 100% guaranteed not to win anything!

Got to be in it to win itParty

So TrueHurray!

jacintasc

Quote: Originally posted by Nodda4me on Jan 9, 2016

If I won the jackpot, I'd keep 10 milllion and donate the other 890 (minus taxes) to random people.

Hi Nice to meet you. My name is Random.

mightwin's avatarmightwin

Whoever won mega last night, flying under the radar....lol

jacintasc

Quote: Originally posted by mightwin on Jan 9, 2016

Whoever won mega last night, flying under the radar....lol

was thinking the same thing!

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by Nodda4me on Jan 9, 2016

If you win $1 million, you will get maybe 380k after taxes as a lump sum. Maybe around 600k or something if you take the annuity.

There is no annuity offered for prize levels 2-9 only for the jackpot.

If you win second prize of $1 million for matching the 5 numbers without the powerball, you get $1 million in cash before taxes are taken out.

Nodda4me's avatarNodda4me

Quote: Originally posted by TheMeatman2005 on Jan 9, 2016

There is no annuity offered for prize levels 2-9 only for the jackpot.

If you win second prize of $1 million for matching the 5 numbers without the powerball, you get $1 million in cash before taxes are taken out.

Right I was thinking it would be like winning a million on a scratch off.

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