How do you put $1.3 billion on a Powerball billboard that only goes up to $999 million?
Posted on 01/10/2016 7:47:03 AM PST by SeekAndFind
No ticket matched all six Powerball numbers following the drawing for a record jackpot of nearly $950 million, lottery officials said early Sunday, boosting the expected payout for the next drawing to a whopping $1.3 billion.
The winning numbers -- disclosed live on television and online Saturday night -- were 16-19-32-34-57 and the Powerball number 13.
All six numbers must be correct to win, although the first five can be in any order. The odds to win the largest lottery prize in US history were one in 292.2 million.
Officials with the Multi-State Lottery Association, which runs the Powerball game, said they expected about 75% of the possible number combinations would have been bought for Saturday night's drawing.
Since November 4, the Powerball jackpot has grown from its $40 million starting point, as no one has won the jackpot. Such a huge jackpot was just what officials with the Multi-State Lottery Association, which runs the Powerballgame, hoped for last fall when they changed the odds of matching all the Powerball numbers, from about one in 175 million to one in 292.2 million. By making it harder to win a jackpot, the tougher odds made the ever larger prizes inevitable.
The US saw sales of $277 million on Friday alone, and sales of more than $400 million were expected Saturday, according to Gary Grief, the executive director of the Texas Lottery.
(Excerpt) Read more at businessinsider.com ...
I just won the Mega Millions. Two whole dollars.
I believe the current numbers are $14K if the donor is an individual, $28K if the donors are a married couple. And yes, the donor pays the taxes on anything over that.
I read the statute yesterday. You are mostly accurate. There ARE times when the recipient pays the taxes. They are few and far between.
If I am giving my deadbeat brother $1 million, I think that I would rather HE pay the taxes. Ha Ha.
When I win the Powerball, this week.....
No. Let’s face it, the winner will be known first for winning this lottery. When I thought about it, is that what I want to be known for? I write creatively as a hobby and would rather be known for my silly blog, my container gardening, a novel (if I ever one published), an expert in my career field, etc. etc. etc.
I agree. I am not playing. Instead I will put my energy into my creative writing endeavors and hopefully publish one day.
Or even let this cycle’s bets go entirely into the next cycle. So the next drawing would be $450 million, not $10 million.
Only now is it a fair game. Odds are 1 in 300 million. The ticket costs $2. The winner will be lucky to clear 700 million. So this is about the only time the odds are in the players’ favor.
I would give some money to here on FR and my church, as well as get my dad a new truck and my grandmother care I would further my education after I get my masters degree And I would also save a lot of it and the rest I would waste on books, guns, trips, and various types of art.
After federal, state, and county taxes that $1.3 billion should turn into a cool $390 million.
What would you get your Masters degree in? Something really useful such as philosophy or creative writing? Theology or sociology might be even better. Communications is a must-have!
Advice To Instant Lottery Millionaires!
Last update 10JAN2016.
http://luckyyou.alecwest.com/
If any FReepr wins be sure to read this first. It’ll save you a lot of headaches afterward.
LUMP SUM OR THE ANNUITY: Here’s Which One To Choose If You Win The Lottery
http://www.businessinsider.com/should-you-take-the-annuity-or-the-lump-sum-if-you-win-the-lottery-2013-9
A winner’s guide to managing your Powerball jackpot
http://www.azcentral.com/story/money/business/consumers/2016/01/08/winners-guide-managing-your-powerball-jackpot/78408648/
When I went to the Massachusetts lottery site to check the numbers this morning, they have the prize pool at “$1300 million”
But how do you post 1300 on a billboard with only three digit spaces?
Use three zeroes and hire a series of guys to stand there up on the left with a ‘1’ sign?
Don’t use numbers at all and instead use O M G ?
Funny how everyone goes gaga for the huge jackpots when the minimum jackpot would get most people 90% of anything they could want (anything but superexpensive mansions or huge yachts or priceless art).
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