BRIGGS wrote:

jrodmc wrote:Like flushing your dollars down the toilet and hoping some of them float back up to the top.

The lines to buy tickets now must be amazing. There goes the mortgage money, food money, gas money.

If this keeps going, it's going to get really ugly for some, I would imagine.

I don't think people are that stupid--it makes no sense.

Exactly how many compulsive gamblers are there in the US? 1.5 billion I'm sure is not much of an enticement.

From the Telegraph Herald:

Powerball officials will allow you to purchase all possible combinations, but it isn't a smart thing to do. At $2 per ticket, the strategy would cost about $584 million, and when taxes are subtracted, you would probably end up losing money.
Plus, if someone else matched the winning numbers, too, you would have to split the prize. While you would make back some of your investment on smaller prizes paid for matching three, four or five numbers plus the Powerball, chances are it still isn't a good bet.

In 2010, while the economy was still recovering from the recession, lottery ticket sales increased by $1 billion. This indicates that during hard times, when people's budgets are the tightest, they invest in something that is almost guaranteed to give them nothing in return. Had these individuals invested this money into the market during this period, they likely would have had a substantial positive return as the market recovered. Unfortunately, nearly everyone who bought lottery tickets during 2010 lost every penny spent.
Buying lottery tickets also can be addictive. This addiction can occur in the rich or poor, but the poor generally fare worse because lottery spending will likely be a larger percentage of their income. The possibility of instant wealth can drive individuals to spend more than they can afford on lottery tickets, even though they have almost no chance of winning.
According to the Census Bureau, Americans spent more than $50 billion on lottery tickets in 2011. If individuals had invested those dollars or saved them for retirement, the majority would be financially better off than they are now. Regardless of whether one resides in a state with a lottery, people should use whatever influence they have in other states to discontinue the practice. There is little justification for lotteries in our modern society, and the toll on the poor is far greater than any sum raised through lottery ticket sales.

jrodmc wrote:

BRIGGS wrote:

jrodmc wrote:Like flushing your dollars down the toilet and hoping some of them float back up to the top.

The lines to buy tickets now must be amazing. There goes the mortgage money, food money, gas money.

If this keeps going, it's going to get really ugly for some, I would imagine.

I don't think people are that stupid--it makes no sense.

Exactly how many compulsive gamblers are there in the US? 1.5 billion I'm sure is not much of an enticement.

From the Telegraph Herald:

Powerball officials will allow you to purchase all possible combinations, but it isn't a smart thing to do. At $2 per ticket, the strategy would cost about $584 million, and when taxes are subtracted, you would probably end up losing money.
Plus, if someone else matched the winning numbers, too, you would have to split the prize. While you would make back some of your investment on smaller prizes paid for matching three, four or five numbers plus the Powerball, chances are it still isn't a good bet.

In 2010, while the economy was still recovering from the recession, lottery ticket sales increased by $1 billion. This indicates that during hard times, when people's budgets are the tightest, they invest in something that is almost guaranteed to give them nothing in return. Had these individuals invested this money into the market during this period, they likely would have had a substantial positive return as the market recovered. Unfortunately, nearly everyone who bought lottery tickets during 2010 lost every penny spent.
Buying lottery tickets also can be addictive. This addiction can occur in the rich or poor, but the poor generally fare worse because lottery spending will likely be a larger percentage of their income. The possibility of instant wealth can drive individuals to spend more than they can afford on lottery tickets, even though they have almost no chance of winning.
According to the Census Bureau, Americans spent more than $50 billion on lottery tickets in 2011. If individuals had invested those dollars or saved them for retirement, the majority would be financially better off than they are now. Regardless of whether one resides in a state with a lottery, people should use whatever influence they have in other states to discontinue the practice. There is little justification for lotteries in our modern society, and the toll on the poor is far greater than any sum raised through lottery ticket sales.

A compulsive gambler will lose his money somewhere doesn't have to be power ball. What you see is normal. In flow rises by nearly 100% or mor from regular players and you get a great deal of incremental players who just do larger lotteries. People who usually play 3 are playing 20-30 and players who don't play are doing 5-6 bucks. I think any reasonable person can discern that playing 1 ticket is not appreciably different from playing 1000. I think the regular joe spends 20 bucks money he would've spent at subway

Nalod wrote:

martin wrote:

Nalod wrote:

Moonangie wrote:

Nalod wrote:We have an annual budget of $40 to play. $10 5 tickets.

Plan is run it into a trust but if not available wife will change her name, then get a makeup artist change her look, mumble during the press conference, then change back name and run the money into a trust and create a foundation. Can't tell anyone, not even my adult kids. They are early 20's and will be told we had a nice windfall and will fund them to get thru law school and the other be a CPA. Then they have a purpose to which run the foundation and we gonna help a lot of people.

The purpose is not to let the money change you. Takes time to grow into it. Sudden money and fame does not make you smarter. Life needs a purpose.

Other than that its too scary to have the whole world focused on you with many seeing a person as a target for self gain.

If you want anonymity, best not to buy tickets in NY: public disclosure of name and town is required. Can't used blind trust to collect.

So start thinking of funny names for your wife.

Only a few states allow it.

"Nancy Nalod"
"Eydie Curry"
"Anucha Thomas"
"Saramae Starbury"
"Stacy StarPhuch"

Saramae, where the hell are you girl? We still be lookin

http://www.ultimateknicks.com/forum/topic.asp?t=22581&page=1

Wow I never got the Saramae reference before reading this. Incredible. Ah the halcyon days of UK!

Nalod wrote:Im wondering if one can sell the winning ticket for a discount. Say I don't want to deal with all the crap that comes with winning and paranoia of kidnapping/ransom and general BS that comes with it.
Sudden fame and sudden fortune are not easy to handle and to have both is destructive.

I wonder if a bank, for say 15% return (I discount it that amount) take the ticket in a transaction before. Im not losing any sleep over this as Nalod has yet to even buy his ticket.
Reality is I'd be just fine keeping just $10mil as I like my life as it is.

Just dreaming.

there seems to be a way, but proceed with caution: https://www.quora.com/Did-Whitey-Bulger-really-win-the-lottery

DrAlphaeus wrote:

Nalod wrote:

martin wrote:

Nalod wrote:

Moonangie wrote:

Nalod wrote:We have an annual budget of $40 to play. $10 5 tickets.

Plan is run it into a trust but if not available wife will change her name, then get a makeup artist change her look, mumble during the press conference, then change back name and run the money into a trust and create a foundation. Can't tell anyone, not even my adult kids. They are early 20's and will be told we had a nice windfall and will fund them to get thru law school and the other be a CPA. Then they have a purpose to which run the foundation and we gonna help a lot of people.

The purpose is not to let the money change you. Takes time to grow into it. Sudden money and fame does not make you smarter. Life needs a purpose.

Other than that its too scary to have the whole world focused on you with many seeing a person as a target for self gain.

If you want anonymity, best not to buy tickets in NY: public disclosure of name and town is required. Can't used blind trust to collect.

So start thinking of funny names for your wife.

Only a few states allow it.

"Nancy Nalod"
"Eydie Curry"
"Anucha Thomas"
"Saramae Starbury"
"Stacy StarPhuch"

Saramae, where the hell are you girl? We still be lookin

http://www.ultimateknicks.com/forum/topic.asp?t=22581&page=1

Wow I never got the Saramae reference before reading this. Incredible. Ah the halcyon days of UK!

She's a classic, just like Alba

DrAlphaeus wrote:

Nalod wrote:

martin wrote:

Nalod wrote:

Moonangie wrote:

Nalod wrote:We have an annual budget of $40 to play. $10 5 tickets.

Plan is run it into a trust but if not available wife will change her name, then get a makeup artist change her look, mumble during the press conference, then change back name and run the money into a trust and create a foundation. Can't tell anyone, not even my adult kids. They are early 20's and will be told we had a nice windfall and will fund them to get thru law school and the other be a CPA. Then they have a purpose to which run the foundation and we gonna help a lot of people.

The purpose is not to let the money change you. Takes time to grow into it. Sudden money and fame does not make you smarter. Life needs a purpose.

Other than that its too scary to have the whole world focused on you with many seeing a person as a target for self gain.

If you want anonymity, best not to buy tickets in NY: public disclosure of name and town is required. Can't used blind trust to collect.

So start thinking of funny names for your wife.

Only a few states allow it.

"Nancy Nalod"
"Eydie Curry"
"Anucha Thomas"
"Saramae Starbury"
"Stacy StarPhuch"

Saramae, where the hell are you girl? We still be lookin

http://www.ultimateknicks.com/forum/topic.asp?t=22581&page=1

Wow I never got the Saramae reference before reading this. Incredible. Ah the halcyon days of UK!

That is too funny; can i change my handle to Mike_from_LasVegas?