(Topic ID: 227631)

$1.6 BILLION dollars


By SilverUnicorn

7 months ago



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  • 126 posts
  • 67 Pinsiders participating
  • Latest reply 6 months ago by SuperDaveOsbourn
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    #1 7 months ago

    Oh to dream. The Mega Millions lottery is up to 1.6 BILLION Dollars.

    Oh the good this could do. I find it rather insane that one person has the potential to win so much money, but that's the fact. I hope several people win, or a large group. People that can genuinely use it. Yes, I am in 2 lottery pools at work for this, but only because I don't want to be the only one sitting at my desk the next day if they were to hit. That and I'd love to get some NIB games. LOL

    Good luck to those who play!

    Chris

    #2 7 months ago

    Wife and I felt we had no choice but to buy a few tickets with that much of a prize.
    Can't win if you don't play right.
    -Mike

    #3 7 months ago

    I wonder if I could buy a Silver Unicorn?

    #4 7 months ago
    Quoted from SilverUnicorn:

    Oh to dream. The Mega Millions lottery is up to 1.6 BILLION Dollars.
    Oh the good this could do. I find it rather insane that one person has the potential to win so much money, but that's the fact. I hope several people win, or a large group. People that can genuinely use it. Yes, I am in 2 lottery pools at work for this, but only because I don't want to be the only one sitting at my desk the next day if they were to hit. That and I'd love to get some NIB games. LOL
    Good luck to those who play!
    Chris

    One time I found a photo copy of a group lottery ticket.

    I figured that if I also played their numbers, I would win half, and they would have to split the other half among their whole group. Didn't end up winning, but it would have been fun.

    #5 7 months ago

    Dreams dreams. One thing I'd be doing with some of that money is buying an old downtown warehouse building in a city that I figure out later. Use the freight elevator to haul my collection of muscle cars up to the second floor for storage and display. Then on another floor or section of that building, build the ultimate arcade. All the machines I played from the mid 80's to the 90's.

    #6 7 months ago

    Our lotto max in Canada was at all time record last night also. But ours can’t get that high as it is actually capped at 60mill
    Then each million over 60 is another individual 1 million dollar winner.
    So if some one hammers the 60, 54 different people have the chance at 1 mill each. It’s kinda neat.

    16
    #7 7 months ago
    Quoted from Grizlyrig:

    Can't win if you don't play right.-Mike

    I've learned that I have almost the exact same chance of winning if I don't buy a ticket.

    #8 7 months ago
    Quoted from RTS:

    I've learned that I have almost the exact same chance of winning if I don't buy a ticket.

    lol, this is very true.

    #9 7 months ago
    Quoted from RTS:

    I've learned that I have almost the exact same chance of winning if I don't buy a ticket.

    I agree,but I do remember a couple of years ago,a bunch of people want in on a group buy,and one employee didn't.They won,and I'm sure he was a little disappointed.

    #10 7 months ago
    Quoted from ralphs007:

    I agree,but I do remember a couple of years ago,a bunch of people want in on a group buy,and one employee didn't.They won,and I'm sure he was a little disappointed.

    We currently have a work group subscription. We have ONE guy in the entire office who opted out. We have a contact signed by all contributors so we are covered. We bascically want to win out of spite now, LOL.

    #11 7 months ago

    Have read some where that some companies will not allow there employees to group buy lottery tickets. On the chance that if 15 or so employees quit "if' they won a multi million prize.

    #12 7 months ago
    Quoted from Grizlyrig:

    Wife and I felt we had no choice but to buy a few tickets with that much of a prize.
    Can't win if you don't play right.
    -Mike

    I've always found this kind of funny .. Like, $1.6 billion, I'll buy a few tickets ... $50 million? No, that's not enough money for me to buy a ticket.

    #13 7 months ago

    Winning the lottery is often a curse, as strange as that may sound. Many lives have been wrecked because of it. Some winners have even committed suicide because they were so miserable. It introduces problems that people never even considered before they won. Once you have enough money to survive and be reasonably comfortable adding more often does more harm than good. It’s counterintuitive, like many things in life.

    https://www.google.com/amp/amp.timeinc.net/time/4176128/powerball-jackpot-lottery-winners

    10
    #14 7 months ago
    Quoted from RTS:

    I've learned that I have almost the exact same chance of winning if I don't buy a ticket.

    I figure what the hell - live a little! It's fun to dream and a having a shot only costs $2.

    Quoted from JJHLH:

    Winning the lottery is often a curse, as strange as that may sound. Many lives have been wrecked because of it. Some winners have even committed suicide because they were so miserable. It introduces problems that people never even considered before they won. Once you have enough money to survive and be reasonably comfortable adding more often does more harm than good. It’s counterintuitive, like many things in life.
    https://www.google.com/amp/amp.timeinc.net/time/4176128/powerball-jackpot-lottery-winners

    I'm willing to accept the risk.

    #15 7 months ago
    Quoted from JJHLH:

    Winning the lottery is often a curse, as strange as that may sound. Many lives have been wrecked because of it. Some winners have even committed suicide because they were so miserable. It introduces problems that people never even considered before they won. Once you have enough money to survive and be reasonably comfortable adding more often does more harm than good. It’s counterintuitive, like many things in life.
    https://www.google.com/amp/amp.timeinc.net/time/4176128/powerball-jackpot-lottery-winners

    That's why if we get 8 guys to win 100K or 1 mill, (such an unlikely chance anyway) we only get to have some money to spend,none of us will have "fuck you" money. Just no mortgage or a new truck/boat or what have you. Or pinball machines in my case

    #16 7 months ago

    A big problem is the winner’s names are made public. That makes sense and is necessary to ensure the lottery isn’t rigged. But once everyone knows you recieved a windfall it changes how they interact with you. Loved ones and friends come out of the woodwork to put the touch on you. The only way I can see to avoid that is to publicly donate all the money to charity. That would be rewarding and fun and would avoid all the headaches.

    #17 7 months ago

    If you win, set up a trust and have your lawyers pick up the money. Nobody will know it’s you.

    Lottery is like alcohol. It amplifies what you really are. If you are unhappy today it isn’t going to help you. If you have crappy friends and family today you are in real trouble.

    #18 7 months ago

    if i won (which i cant cause i dont buy tickets) id do that pinball tournament deadflip envisioned yesterday on the Power 100 Championship stream.

    host a tournament in the finals whatever score you end up with you get in cash

    so if you scored 75,600 on EL Dorado youd get that in cash

    2nd place scored 68,400 theyd get that money as well and so on.

    do it on EM's so the payouts arent so high and you could pay out more people!

    AFM is out haha

    #19 7 months ago

    All you need is 1 ticket ($2). Buying one ticket significantly increases your odds from 0 in 302 million to 1 in 302 million. Subsequent numbers do verrrry little to increase your chances (2 - xx in 302 million).

    #20 7 months ago
    Quoted from JJHLH:

    A big problem is the winner’s names are made public. That makes sense and is necessary to ensure the lottery isn’t rigged. But once everyone knows you recieved a windfall it changes how they interact with you. Loved ones and friends come out of the woodwork to put the touch on you. The only way I can see to avoid that is to publicly donate all the money to charity. That would be rewarding and fun and would avoid all the headaches.

    Not all states. Lots of states you can claim it as a trust and go unidentified. Best scenario if you can be patient and gather a team and set the wheels in motion.

    #21 7 months ago

    I think I'd rather not have all that money to deal with, and all the leeches and headaches that would come with it.

    #22 7 months ago

    Just started a friends and family pool everybody pitches in the same amount. You win everybody gets the same amount.

    10
    #23 7 months ago

    I never understand why people daydream about billion dollar payouts but just can’t get excited about a $10 million lotto ticket.

    That being said oh Shit I gotta buy a ticket! When I win I’ll buy pinside and ban all my enemies.

    #24 7 months ago
    Quoted from Black_Knight:

    If you win, set up a trust and have your lawyers pick up the money. Nobody will know it’s you.

    Won’t work, not allowed.

    It’s pretty interesting to read about things people have tried to avoid their name and face getting out. None of it works in the end though.

    I have only been able to postulate one way to do it. All of the money will need to be taken by some real person whose gives up their name. Then via a (hopefully ironclad) prior agreement they then hand it over to you in confidentiality, minus some prenegoitiaged cut. This would work to hide your identity, but the drawback is that taxes would have to be paid twice, as you can’t just gift someone large amounts of money. So it will divide in half again for the privilege of maintaining confidentiality.

    #25 7 months ago
    Quoted from xsvtoys:

    Won’t work, not allowed.
    It’s pretty interesting to read about things people have tried to avoid their name and face getting out. None of it works in the end though.
    I have only been able to postulate one way to do it. All of the money will need to be taken by some real person whose gives up their name. Then via a (hopefully ironclad) prior agreement they then hand it over to you in confidentiality, minus some prenegoitiaged cut. This would work to hide your identity, but the drawback is that taxes would have to be paid twice, as you can’t just gift someone large amounts of money. So it will divide in half again for the privilege of maintaining confidentiality.

    No taxes on winnings in Canada, you won’t pay a penny on millions! but there is taxes to gift someone money.

    #26 7 months ago
    Quoted from northerndude:

    No taxes on winnings in Canada, you won’t pay a penny on millions! but there is taxes to gift someone money.

    Lottery winnings in Canada are only tax free for 1 year. The following year one would be taxed on any income from those winnings.

    #27 7 months ago

    The winnings went from one billion to one point six billion -- does that mean 600 million dollars was spent on lottery tickets over a span of a couple days?

    That's almost like every person in the country buying one!

    #28 7 months ago

    I think the people whose lives were ruined were idiots... plain and simple

    #29 7 months ago

    I could finally build that Rat-rod powered by a EMD 567 and tell that ass hole at the car show that its got more cubes in one cylinder then his whole big block combined!

    #30 7 months ago
    Quoted from Grizlyrig:

    Wife and I felt we had no choice but to buy a few tickets with that much of a prize.
    Can't win if you don't play right.
    -Mike

    Statistically, you have a better chance of finding the winning ticket on the ground.

    That’s why you should buy two.

    #31 7 months ago
    Quoted from TractorDoc:

    The winnings went from one billion to one point six billion -- does that mean 600 million dollars was spent on lottery tickets over a span of a couple days?
    That's almost like every person in the country buying one!

    $2 a ticket

    #32 7 months ago

    1.6 billion is not what you wind up with. Realistic figure around 5.5 mil. Still not bad.

    #33 7 months ago
    Quoted from Ericpinballfan:

    I wonder if I could buy a Silver Unicorn?

    Oh, I am sure I can be bought for the right price. LOL

    #34 7 months ago

    if i won i might be able to afford the new Beatles pinball

    #35 7 months ago
    Quoted from D-Gottlieb:1.6 billion is not what you wind up with. Realistic figure around 550000. Still not bad.

    Correct. $1.6 Billion is the annuity. Cash option is $940 million. Assume 45% in taxes off the top then you're right around the # you stated. In the case of the pool at work, there are 41 people this week. I'd still be Ok with that

    Chris

    #36 7 months ago
    Quoted from CrazyLevi:

    I never understand why people daydream about billion dollar payouts but just can’t get excited about a $10 million lotto ticket.
    That being said oh Shit I gotta buy a ticket! When I win I’ll buy pinside and ban all my enemies.

    Divide the 1.6 billion by all your enemies and it's just not enough money.

    (naw just kidding, everybody loves your acerbic wit and wisdom.)

    #37 7 months ago

    I wonder if Bill Gates bought a few tickets.

    Hell if I win I might be able to still afford some NIB machines in about 5 years time from now, or at least the deposit anyway.

    #38 7 months ago

    who else read this topic title in the BSD narrator voice?

    #39 7 months ago
    Quoted from xsvtoys:

    Won’t work, not allowed.

    Yes it does and yes it is.

    I know someone who did it and here is a Forbes article that explains it.

    www.forbes.com/sites/robertpagliarini/2016/01/12/how-to-remain-anonymous-if-you-win-the-lottery

    #40 7 months ago
    Quoted from TractorDoc:

    The winnings went from one billion to one point six billion -- does that mean 600 million dollars was spent on lottery tickets over a span of a couple days?
    That's almost like every person in the country buying one!

    It's actually the NPV (Net Present Value) of the (in this case), estimated sales until the selling cut-off for the next draw. But, government lotteries typically pay half of what the odds are and keep the other half for payments to funding stuff, administrative fees, travel boondoggles etc.

    #41 7 months ago
    Quoted from Black_Knight:

    Yes it does and yes it is.
    I know someone who did it and here is a Forbes article that explains it.
    www.forbes.com/sites/robertpagliarini/2016/01/12/how-to-remain-anonymous-if-you-win-the-lottery

    Would like to read an article about it from a source other than lawyers selling the service, which is all I can find. Also that Forbes article states that you will have to cede ALL control to another person if you want your name totally out of it. You have to be rock solid on that. Also, taxes are not discussed in any of the articles about doing this.

    If it is indeed possible to do this, you would have to be an idiot to NOT do it. There are way too to many whacked-out people in the world, I sure wouldn’t want my name out there in the wild associated with that kind of money.

    #42 7 months ago
    Quoted from xsvtoys:

    Would like to read an article about it from a source other than lawyers selling the service, which is all I can find. Also that Forbes article states that you will have to cede ALL control to another person if you want your name totally out of it. You have to be rock solid on that. Also, taxes are not discussed in any of the articles about doing this.
    If it is indeed possible to do this, you would have to be an idiot to NOT do it. There are way too to many whacked-out people in the world, I sure wouldn’t want my name out there in the wild associated with that kind of money.

    Well I’d send you my neighbors contact info to discuss, but he put it in a trust for a reason.

    The biggest hit from taxes are from estate taxes. Since there is no way you could spend it all, you need to set up your Kids and grandkids as winners so they don’t get hit twice. Again, a trust is the best way to do that.

    Also be very careful with the ticket. How you sign it can impact your options on how it is claimed so talk to a lawyer first.

    To your point, most winners are idiots.

    #43 7 months ago

    Who wouldn't be just as happy winning $1 Million dollars? I'd rather they ran it like a Raffle and made 1600 millionaires. They are just using human nature to drive up their own income... an unrealistic jackpot size with unrealistic odds to win.

    #44 7 months ago
    Quoted from CrazyLevi:

    I never understand why people daydream about billion dollar payouts but just can’t get excited about a $10 million lotto ticket.
    That being said oh Shit I gotta buy a ticket! When I win I’ll buy pinside and ban all my enemies.

    $10 million is chump change. I don't even start to pay attention to the lottery until it hits at least $300 million.

    #45 7 months ago
    Quoted from Baiter:

    Who wouldn't be just as happy winning $1 Million dollars? I'd rather they ran it like a Raffle and made 1600 millionaires. They are just using human nature to drive up their own income... an unrealistic jackpot size with unrealistic odds to win.

    Depends what makes you happy. $1M is maybe $600k after taxes. Most can't retire on $600k. It would make life more comfortable, and could retire sooner, but not immediately like the big jackpots.

    15
    #46 7 months ago

    Well I am in and if I win it I will buy every current pinsider from this date a brand new pinball machine!

    #47 7 months ago

    And you get a pinball, and YOU get a pinball, and YOU get a pinball!

    #48 7 months ago
    Quoted from Pinballlew:

    Well I am in and if I win it I will buy every current pinsider from this date a brand new pinball machine!

    51,845 pinsiders x $6000 (Stern pro + shipping) = $311,070,000.

    You'd still have a couple hundred million left over.

    -1
    #49 7 months ago


    With that much, you can buy your way into heaven!

    #50 7 months ago
    Quoted from lancestorm:

    Depends what makes you happy. $1M is maybe $600k after taxes. Most can't retire on $600k. It would make life more comfortable, and could retire sooner, but not immediately like the big jackpots.

    Wait, who wouldn't be happy winning $600k cash?

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