Skip to comments.Powerball winner: $590 million ticket bought in Florida
Posted on 05/19/2013 10:04:22 AM PDT by 4Runner
DES MOINES, Iowa -- It's all about the odds, and one lone ticket in Florida has beaten them all by matching each of the numbers drawn for the highest Powerball jackpot in history at an estimated $590.5 million, lottery officials said Sunday.
The single winner was sold at a supermarket in Zephyrhills, Fla., according to Florida Lottery executive Cindy O'Connell. She told The Associated Press by telephone that more details would be released later.
Read more here: http://www.miamiherald.com/2013/05/19/3405191/590m-plus-powerball-1-winning.html#storylink=cpy
(Excerpt) Read more at miamiherald.com ...
Once government took up the operation Organized Gambling, the Mafia was effectively put out of business.
The lottery is risk taking with possible rewards. Not much different than the stock market......are you opposed to that too?
10, 13, 14, 22 and 52, with a Powerball of 11.
33 winning tickets for a $1,000,000 prize each were sold around 17 states, led by six tickets in New York.
2 winning tickets each for the $2,000,000 PowerPlay, one in New York and the other in South Carolina.
Had I won the money I would have used the money for good causes; Good cars, good homes, good vacations, and good clothing.
Oh yeah, save the “George Soros” argument. Yes I know he is irresponsible and super wealthy and wealth isn’t always an indicator of reasonableness, but taxpayers didn’t line up by the millions to hand his wealth to him on a silver platter.
Clearly, someone needs to prevent me from spending $2 on a ticket when the jackpot rises to such a level. The government, maybe?
Buying a lottery ticket in your crazed mind equates to the stock market? It’s people like you who have turned investing into gambling. The stock market was NEVER intended as a substitute for the horse races, neither was real estate but the pervs in America turned these long term investments all into 24-hour lotteries. IGNORAMUS.
I agree that I see these types of jackpots are destructive to a society. Instead of people putting thought and energy into their families, starting businesses or working hard at their job they are consumed with the hope that all their prayers will be answered if only they win. How many otherwise productive hours are spent in line waiting to buy tickets or thinking about “their numbers” not to mention the millions of dollars spent by people on a chance. Just the other day I asked my husband how much money he thinks was spent by people who have EBT cards? We pay for their food, healthcare and housing and they use their cash for lotto, liquor and cigs. Oh...and tattoos on the necks
I'm inclined to agree.Although I buy,on average,a few lottery tickets a year (I bought two for this drawing) I'm not a big fan of gambling at all.If I had won this I would have given all but several million to charities and all but a million or so of what I kept I would have given to my sister (who has $$$ difficulties these days) and several younger members of my family.Everything I've heard about major lottery winners suggests that this winner will, someday,wish he/she had never bought the ticket.
I once spent an entire weekend working through
amortization tables, probability statistics, and taxation consequences
of “Winning The Lottery”
Including all lesser payouts
The Best ROI was -2%, but generally much worse at -~50%
Who in their right mind would invest in an instrument with a
negative return of investment?
I think you make some good points.
If someone took the cash out option and used it to build businesses which created real wealth, then that money could result in real economic growth. But otherwise, I see your point, that this money to pay the jackpot simply was re-distributed from everyone else who bought these tickets.
I’ve heard anecdotal stories of lottery winners who won millions and ended up broke later on. Anyone winning a huge prize, or inheriting substantial money, needs financial advice, big time.
And we’ve all heard similar anecdotes about professional athletes who have multi-million dollar contracts during their careers. But when their playing days are over, many of them lose all or most of what should have set them up for life, financially speaking.
Anyone who doesn’t have discipline when it comes to money will have problems if huge sums fall into their laps like this.
If I had won it I would “give back” to the community. Maybe build some midnight basketball courts. Provide a place for kids so they could make plans. To rob me. LOL! Can’t say for sure because it wasn’t me. Course you gotta buy some tickets if you want that huge welfare payment huh? Guess we’ll just stick to the slot machines. (Remember the guy in WV who won and was spending beaucoup bucks at strip clubs?) Having money doesn’t give you class, it just gives you money. Makes being miserable a little easier. I guess.
“...The lottery is risk taking with possible rewards. Not much different than the stock market......are you opposed to that too?...”
To each his own. Both the lottery and the market are just about the same caliber these days. However, thousands, if not millions, of other folks indulge in their favorite vices every day. IF that’s what they want to do, that’s their business. But the lottery, stock market, homosexuality, liberalism, prostitution, golf, tennis, and a host of other obama-related activities etc., I personally just shy away from. However, IF obama hates it, I usually like to get right in the middle of it: huntin’ fishin’, shootin’, drillin’ for oil, family, traditional marriage, Christianity, etc. We may not have much money, but we make it the old-fashoned way: we work for it and earned every penny of it. :) Again, to each his own, but ya not gonna take it with ya. Haven’t seen a hearse pulling a U-haul yet (I’m sure someone will have a pic though....LOL)
“Makes being miserable a little easier. I guess.”
It just helps you to find new and improved ways to be miserable.
It would be great it if were a FReeper
Does the stock market have only one winner?
“...Anyone who doesnt have discipline when it comes to money will have problems if huge sums fall into their laps like this.....”
I agree with you. All one has to do is go back and look at many of previous big-time winners over the past few years. Most of em are far worse off than before they won it. Managing that kind of money is a very difficult job. Sure, we may all want a crack at it, but it becomes a full-time headache. Basically, they find themselves in the role of a CEO of a multi-million dollar company with absolutely no experience to draw from. It takes discipline and experience to do it right and not lose it all to every con man,shark and taxing authority coming down the pike. Your privacy becomes totally shot, you’ll find yourself with friends and relatives you didn’t know even existed, your real, legitimate close relatives will end up hating you even though you gave them money (because it’s never enough no matter how much it is), your mailbox will be filled with hundreds, if not thousands of letters every day begging for “donations”. Fed-Ex and UPS will be there every day with overnight packages begging for the same thing, people will literally camp out on your lawn or an area close by so they can try to mooch off you every time you come outside or drive out the driveway. So you’ll have to move and find a gated place to live just to stay sane. You’ll also likely have to hire some type of armed security to keep you and your loved ones from being constantly harassed, or worse yet, kidnapped etc. And all of that is not counting the crap you’re going to have to deal with from the IRS and other taxing authorities. You’ll have to have accountants, tax attorneys, etc. to handle all of that. Don’t ask me how I know all this.... :) And no, it was NOT from lottery winnings on my part.
Money changes people drastically. Big money makes for big changes and it’s not always necessarily for the better. IF you’re not disciplined with it BEFORE you get it, you surely won’t be once you have it.
“It would be great it if were a FReeper”
I’ll say. They could keep Free Republic in the black for the next hundred years on just a little of the interest! But, it’s probably going to turn out to be a Cuban refugee or some 90-year-old retired lady from Jersey.
or maybe it was rigged to benefit an Obama minion. I wouldn’t put it past them.
The “winner” has no idea of all the problems which lie ahead for him/her.
But, how much was skimmed off the top to help fund state education funding? Maybe another $590 million???
The lump sum is half the 30-year payment after taxes, who keeps that other half?
Not that I expect them to keep up this pace, but it beats the hell out of a stupid lottery ticket where your chances of winning even a lousy $3 is about 1 in 58.
Just wish I had more to invest as opposed to the jackasses I've stood behind in a customer service line who often blow upwards of $50 on their damn lottery tickets and sometimes even read out their damn lucky numbers one at a time while the rest of us who have less important things to do like pay bills or buy stamps just have to wait.
I stopped playing Powerball & other Lotto games after visiting this site:
You get to see your actual odds of winning at no cost to you! Choose your own numbers and let it run at ‘Max’ speed.
My guess is that you will never buy another lottery ticket again.
Just look at it like this — job creation or welfare reduction. Whoever has a job and won will leave it thus opening the position for someone else.
Largest welfare payment in history.
I never heard such a thing before. You pay into it by buying a ticket. I normally do buy a ticket or two but forgot to yesterday. I know everything is evil to some of you but this is a capitalistic venture.
“How many otherwise productive hours are spent in line waiting to buy tickets or thinking about their numbers “
About as long as it takes to pay cash for the gasoline that brought me to the store in the first place.
“How many otherwise productive hours are spent in line waiting to buy tickets or thinking about their numbers “
The lump some is the present worth of the total winnings spread out over the incremental payout period.
...and not one thin dime for JimRob? Bleah on you!
Well, dang. I didn’t even check my ticket yet.
“unearned unjustified wealth transfer.”
All by choice. Nobody forcing people to buy tickets.
And for others comparing it to the stock market is about as ignorant a comment as possible. Just black hole stupid.
You forgot good booze and good guns. . . (grin)
"Re-distributed" by whom?
Heh! If I’d have won, I’d have hired three dozen reloading FReepers, moved them and us all to a good 2nd amendment supportive state, and started a business called, “Freepin’ Ammo Supply.”
The money is re-distributed by the lottery agencies in each state which participate in powerball. The money to pay out these prizes comes from the sales of tickets.
Nope not me...I didn’t win:-)
Let’s see how quick the winner goes broke
No...but for people to win at the stock market...some have to lose. Not everybody wins. The stock market is gambling with better odds.
Are the ticket purchases mandatory? Tax-driven “entitlement” programs are re-distributive, and if I decide not to play along, eventually men with guns are going to show up to visit me. I’ve yet to hear about this with regards to the lottery, yet you and a few others call a purely voluntary game “redistribution.” It’s very odd.
Definition of a mentality/bottom feeder: Someone who truly believes they are entitled to—and worth—vast unheard sums of money on an immense scale without so much as having expended one ounce of effort, time, experience, education, self discipline, intelligence, heartache, disappointment, fear, danger, repeated frustration, or risk in the endeavor. And our truly demented society preaches that we can—all of us—accomplish this feat just by buying a lottery ticket. Americans as a whole are the most ignorant people on the face of the earth and you all wonder why we are so hated? It’s citizens of other countries who laugh and shake their heads at who this country’s eligible voters elected TWICE IN A ROW as president. I mean ONCE could be a stupid mistake right? But TWICE??????? Yah, “stupid” doesn’t even BEGIN to cut it.
There’s “wealth” and then—there’s “redistribution”. Don’t confuse the two in your pwetty liddle head! One is earned and created through immense EFFORT and SACRIFICE. The other is LEGISLATED by LIBERALS and con artists and gambling interests. The lottery is a redistributionist tax on every one who buys a ticket and works for a living. The “winner” is the sole welfare recipient. Capisce?
A lottery ticket-buyer feels “entitled” to nothing, and he or she pays money for the chance. I get that lotteries, in general, are a “tax on the stupid.” Question becomes, why do you want to take my ability to buy a lottery ticket away?
Lotteries are voluntary taxation. The gov runs these because they get a rake off the top and then off the winner. But it is voluntary taxation.
It’s all about the odds, and one lone ticket
= = = = = = = = = = = = = =
I ‘love’ it when the newsreaders gasp “OH the odds are 75 million to 1 of you winning this prize”.
The ODDS are (dependent on game set up) 75 million to 1 whether it be a $2 or 2 billion dollar jackpot.
The PROBABILITY changes the higher it gets.
Then again when the POLS have convinced the masses that if you propose to raise someone’s budget from 4 trillion to 7 trillion and it gets ‘cut back’ to 6.5 trillion, the POLS and ‘interested parties’ will claim their budget was CUT .5 trillion from last year....
Think Sequestration BS.....
The appeal of something like Powerball isn’t like the addiction of gambling. It’s the fantasy of telling the boss to shove it, of rewarding those who have helped you, of status in a culture that increasingly respects nothing but money, etc.
Speculating in land, stocks, or anything else is gambling- the speculator is betting that they can sell for a higher price than they bought it for. The insurance “industry” is based on gambling- the insurance companies and their clients are essentially wagering on the probability of illness and accidents.
“The kind of serious societal power and influence that $590 million represents should NOT be available to any Tom Dick or Jane or Jose walking into a 7-eleven just based on chance. The destructive consequences of someone with no knowledge or ability or education or intelligence or self-discipline or managerial skill handling such enormous economic power is incalculable.”
So, only some Harvard or Yale-trained elites should have access to this much money? So, only the upper crust has any wisdom or any business having such enormous sums? We have 535 ‘elites’ and a jackass in the White House who mismanage trillions year in and year out for decades. We have banksters and other suit-clad crooks all over Wall Street who cook the books on their corporations, recieve handouts swindled from the government, and jump out with their golden parachutes after their schemes leave bankruptcy in their wake. And you maintain that someone chosen at random from the populace cannot handle money as well as some ‘elite’?
Piss be upon you. If the speculator has the right to gamble to get a profit, if the insurance man gambles that nothing bad will happen to a client, then anyone who buys a lottery ticket has a right to whatever the prize may be, great or small.