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Ways to stay anonymous:

1. Don't cash the ticket.  Instead, frame it with one of the numbers obscured, and hang it in your office. 
2. Give it to someone you can trust, like me to cash in.

Author Topic: Want to remain anonymous, when you win the powerball?  (Read 41650 times)

Offline mmgfarb

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Re: Want to remain anonymous, when you win the powerball?
« Reply #420 on: October 17, 2018, 09:19:50 AM »
And....?
IIRC, they didn't actually get every single ticket, it's really hard to do in a week. They did end up winning but I don't remember how many winners there were and how much they made. GIYF, I'm sure you can find the story.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline ChaimMoskowitz

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Re: Want to remain anonymous, when you win the powerball?
« Reply #421 on: October 17, 2018, 09:22:20 AM »
Would raise the winnings value too, no?
5 winners and you're screwed.
Calling @EJB
I just found a new supply of forks!

Offline grodnoking

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Re: Want to remain anonymous, when you win the powerball?
« Reply #422 on: October 17, 2018, 09:42:42 AM »
IIRC, they didn't actually get every single ticket, it's really hard to do in a week. They did end up winning but I don't remember how many winners there were and how much they made. GIYF, I'm sure you can find the story.
The ZMAN.
I'm not who you think I am.

Offline mmgfarb

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Re: Want to remain anonymous, when you win the powerball?
« Reply #423 on: October 17, 2018, 09:43:18 AM »
The ZMAN.
You think I read that garbage?
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline Dan

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Re: Want to remain anonymous, when you win the powerball?
« Reply #424 on: October 17, 2018, 09:44:23 AM »
There was a discussion on DDF.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline aygart

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Re: Want to remain anonymous, when you win the powerball?
« Reply #425 on: October 17, 2018, 09:44:35 AM »
You think I read that garbage?
So JS is your sole source of garbage?
Feelings don't care about your facts

Offline mmgfarb

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Re: Want to remain anonymous, when you win the powerball?
« Reply #426 on: October 17, 2018, 09:45:20 AM »
So JS is your sole source of garbage?
Yep, I can't handle much more than this or I'll start spilling over.
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Online zh cohen

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Offline EJB

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Re: Want to remain anonymous, when you win the powerball?
« Reply #428 on: October 17, 2018, 11:25:51 AM »
MIT did something similar in MA and made $6m or so (no longer possible) Itís practically impossible to do for the big lotteries.

Offline ChaimMoskowitz

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Re: Want to remain anonymous, when you win the powerball?
« Reply #429 on: October 17, 2018, 11:26:49 AM »
MIT did something similar in MA and made $6m or so (no longer possible) Itís practically impossible to do for the big lotteries.
Not what the ROI be with 4 excepted winners?
I just found a new supply of forks!

Offline EJB

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Re: Want to remain anonymous, when you win the powerball?
« Reply #430 on: October 17, 2018, 01:14:30 PM »
Not what the ROI be with 4 excepted winners?

I'm not sure what the question is, but the ROI is practically almost always negative with the big lotteries.

1. Earnings will be taxed at an effective rate of 30-40%
2. "Pot" isn't the present value of the winnings (i.e. lump sum). That is ~40% less
3. Probability of multiple winners can be assumed to follow a binomial distribution that increases significantly as the number of tickets increases. Assuming a winner and 100m tickets sold, the expected number of winners is 1.17. 200m tickets sold - that increases to 1.37. 400m tickets sold, that increases to 1.8. For reference, the $1.58m powerball sold 635m tickets. The $948 million previous drawing sold 440m tickets.

All that considered, the ROI of a $2 ticket with a $1b pot, 200m sold tickets, 35% taxes, and 40% lump sum reduction is around -35%. You need to ignore something significant (such as taxes or lump sum reduction) for that to be positive.

Offline ChaimMoskowitz

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Re: Want to remain anonymous, when you win the powerball?
« Reply #431 on: October 17, 2018, 01:17:52 PM »
I'm not sure what the question is,
With what I wrote I am not sure either.  :)
You answered it anyway.
All that considered, the ROI of a $2 ticket with a $1b pot, 200m sold tickets, 35% taxes, and 40% lump sum reduction is around -35%. You need to ignore something significant (such as taxes or lump sum reduction) for that to be positive.
I just found a new supply of forks!

Offline henche

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Re: Want to remain anonymous, when you win the powerball?
« Reply #432 on: October 17, 2018, 01:20:23 PM »
Wiki updated

Offline ChaimMoskowitz

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I just found a new supply of forks!

Offline avromie7

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Re: Want to remain anonymous, when you win the powerball?
« Reply #434 on: October 17, 2018, 01:43:41 PM »
I'm not sure what the question is, but the ROI is practically almost always negative with the big lotteries.

1. Earnings will be taxed at an effective rate of 30-40%
2. "Pot" isn't the present value of the winnings (i.e. lump sum). That is ~40% less
3. Probability of multiple winners can be assumed to follow a binomial distribution that increases significantly as the number of tickets increases. Assuming a winner and 100m tickets sold, the expected number of winners is 1.17. 200m tickets sold - that increases to 1.37. 400m tickets sold, that increases to 1.8. For reference, the $1.58m powerball sold 635m tickets. The $948 million previous drawing sold 440m tickets.

All that considered, the ROI of a $2 ticket with a $1b pot, 200m sold tickets, 35% taxes, and 40% lump sum reduction is around -35%. You need to ignore something significant (such as taxes or lump sum reduction) for that to be positive.
CMIIW, but I would think there must be a way to not pay taxes on the cost of all the tickets as a business expense
I wonder what people who type "u" instead of "you" do with all their free time.

Offline EJB

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Want to remain anonymous, when you win the powerball?
« Reply #435 on: October 17, 2018, 01:44:45 PM »
CMIIW, but I would think there must be a way to not pay taxes on the cost of all the tickets as a business expense
Not a business expense but you can net gambling losses making the ROI slightly better if you can buy all the numbers. But that would also increase the risk of multiples. And itís practically impossible

Offline gingyguy

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Re: Want to remain anonymous, when you win the powerball?
« Reply #436 on: October 17, 2018, 02:13:02 PM »
IIRC, they didn't actually get every single ticket, it's really hard to do in a week. They did end up winning but I don't remember how many winners there were and how much they made. GIYF, I'm sure you can find the story.
https://forums.dansdeals.com/index.php?topic=13937.msg1901843#msg1901843
« Last Edit: October 17, 2018, 02:16:47 PM by Dan »
May you slide down the banister of happiness & get many splinters of success up your career.

Offline justaregularguy

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Re: Want to remain anonymous, when you win the powerball?
« Reply #437 on: October 17, 2018, 03:04:48 PM »
how many different combinations of numbers are there?

its 6 numbers?
nothings impossible- the word itself says Im possible

Offline ChaimMoskowitz

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Re: Want to remain anonymous, when you win the powerball?
« Reply #438 on: October 17, 2018, 03:18:06 PM »
how many different combinations of numbers are there?

its 6 numbers?
The Mega Millions odds are 1 in 302.6 million
I just found a new supply of forks!

Offline justaregularguy

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Re: Want to remain anonymous, when you win the powerball?
« Reply #439 on: October 17, 2018, 03:21:24 PM »
The Mega Millions odds are 1 in 302.6 million
do we have 302 million DDFers here?

lets go!
nothings impossible- the word itself says Im possible