Author Topic: Mega millions $1.6BB  (Read 66388 times)

Offline LETSGOCUSTOM

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Re: Mega millions $868 million
« Reply #60 on: October 17, 2018, 06:49:14 PM »
States without income tax
How much do you lose when paying nyc’s income tax
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Offline ludmila

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Re: Mega millions $868 million
« Reply #61 on: October 17, 2018, 07:02:25 PM »
How much do you lose when paying nyc’s income tax
Let one win first , then worry about the tax :)
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Offline churnbabychurn

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Re: Mega millions $868 million
« Reply #62 on: October 17, 2018, 08:11:24 PM »
You pay a buck for the privilege to dream.. if that's your thing..

Offline 12HRS

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Re: Mega millions $868 million
« Reply #63 on: October 17, 2018, 08:12:18 PM »
You pay a buck for the privilege to dream.. if that's your thing..

I can dream without paying.

Oh and its $2 now

Offline incendia

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Re: Mega millions $868 million
« Reply #64 on: October 17, 2018, 09:05:42 PM »
I would join a group

Offline ludmila

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Re: Mega millions $868 million
« Reply #65 on: October 17, 2018, 09:32:12 PM »
I can dream without paying.

Oh and its $2 now
It went up from $1 to $2 a long time ago.
I was the Best,still the Best, and will always be the Best.
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Online TimT

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Re: Mega millions $868 million
« Reply #66 on: October 17, 2018, 11:26:00 PM »
I’m looking to rent me a truck for the weekend. Being a truck driver & purchasing a ticket along the highway seems to raise the chance of winning exponentially. :)

Offline churnbabychurn

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Re: Mega millions $868 million
« Reply #67 on: October 18, 2018, 07:41:10 AM »
It went up from $1 to $2 a long time ago.
I've been out of the game for a while

Offline shaulyaakov

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Re: Mega millions $868 million
« Reply #68 on: October 18, 2018, 01:30:36 PM »
970 Million right now.

I'm curious at what dollar amount the lottery would have a positive expected value, especially considering there are a variety of minor prizes as well. Would anyone buy more tickets if the EV > $2?

Online jj1000

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Re: Mega millions $868 million
« Reply #69 on: October 18, 2018, 01:39:34 PM »
970 Million right now.

I'm curious at what dollar amount the lottery would have a positive expected value, especially considering there are a variety of minor prizes as well. Would anyone buy more tickets if the EV > $2?
If they limited it to 1 entry per number it could, but for all you know 100 other people bought the same numbers as you. So it will never make sense as an investment.
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Offline LETSGOCUSTOM

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Re: Mega millions $868 million
« Reply #70 on: October 18, 2018, 01:43:20 PM »
970 Million right now.

I'm curious at what dollar amount the lottery would have a positive expected value, especially considering there are a variety of minor prizes as well. Would anyone buy more tickets if the EV > $2?
How much does the winner get
How much goes towards taxes
Moishe
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Offline shaulyaakov

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Re: Mega millions $868 million
« Reply #71 on: October 18, 2018, 01:45:32 PM »
If they limited it to 1 entry per number it could, but for all you know 100 other people bought the same numbers as you. So it will never make sense as an investment.
Statistically, there's the same chance of winning as someone picking your numbers. That is to say, the odds are small enough that one can probably factor that into the equation by projecting various amounts of tickets sold.

Offline ludmila

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Re: Mega millions $868 million
« Reply #72 on: October 18, 2018, 06:20:54 PM »
I've been out of the game for a while
Me too, just found out when I bought some yesterday, not a regular lottery player.
I was the Best,still the Best, and will always be the Best.
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Offline Dr Moose

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Re: Mega millions $868 million
« Reply #73 on: October 18, 2018, 06:27:15 PM »
Can we change the title of the thread?
Hey there! I am using DansDeals Forums.

Offline ludmila

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Re: Mega millions $868 million
« Reply #74 on: October 18, 2018, 06:31:03 PM »
Can we change the title of the thread?
To?
I was the Best,still the Best, and will always be the Best.
Pele Good,Maradona Better, George Best.

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Re: Mega millions $868 million
« Reply #75 on: October 18, 2018, 06:32:51 PM »
To?
Probably the correct Jackpot amount. It is $970M now

Offline ludmila

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Re: Mega millions $868 million
« Reply #76 on: October 18, 2018, 06:35:28 PM »
Probably the correct Jackpot amount. It is $970M now
You are making me go purchase a few more :)
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Offline LETSGOCUSTOM

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Re: Mega millions $868 million
« Reply #77 on: October 18, 2018, 10:00:54 PM »
Can we change the title of the thread?
Sure how do I do that?
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Offline justaregularguy

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Re: Mega millions $868 million
« Reply #78 on: October 19, 2018, 12:55:08 AM »
Curious (maybe it should be a poll): If you won a large jackpot, lump-sum or annuity (technically an annuity due that pays at t=0)?

Personally, I'd take the annuity, to guarantee that no matter what happens in the market, my payments are safe for 30 years.

Also, I'm told that the interest rate the lottery pays is actually decent due to the tax treatment, as they can invest the entire principal tax-free, so the interest accrues on the full balance, vs. the lump sum option where interest only accrues on the after-tax amount.
a lot of the people buying lottery tickets aren’t exactly making the best economical decision to begin with so if they won they may not know how to handle such large amounts, yet they want to see a lot of money at once and not have to wait all those yrs.

on the other hand can’t you invest your winnings at a much better rate than what the lottery can give you? Why not just put all of it into investments?
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Offline churnbabychurn

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Re: Mega millions $868 million
« Reply #79 on: October 19, 2018, 04:17:00 AM »
a lot of the people buying lottery tickets aren’t exactly making the best economical decision to begin with so if they won they may not know how to handle such large amounts, yet they want to see a lot of money at once and not have to wait all those yrs.

on the other hand can’t you invest your winnings at a much better rate than what the lottery can give you? Why not just put all of it into investments?
Of course you can invest at a better rate. I take the lump sum every time.