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$832,500 vs $10,000

MrsBugi

Platinum Member
Just out of curiosity, why did the store that sold the winning Mega Millions ticket in the Bronx only get $10k compared to the noodle shop in San Gabriel that will get $832,500?

Link to article

"Mega Millions winner bought ticket in Bronx
August 29, 2009 By MATTHEW CHAYES matthew.chayes@newsday.com

1+17+31+37+54+31 = $166.5 million.

That's the winning equation for one lucky lottery player who bought a Mega Millions game ticket at a Bronx grocery store near Fordham University.

The six numbers were drawn Friday night as part of the multistate lottery, worth $333 million. So far, the winner, who has a year to claim the prize, hasn't come forward. He or she will split the money with another lucky player who bought a ticket in San Gabriel, Calif., officials said. That person has also not stepped forward.

The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

The grocery store that sold the ticket, Fordham Convenience at 38 W. Fordham Rd., will get a $10,000 bonus, Givner said.

Michael Patel, a store manager, jokingly shrugged off the store's bonus when compared to the $166.5 million. "Ten thousand dollars - no big deal," he laughed. "Only $10,000?"

California lottery spokeswoman Monique Blue said the Chinese restaurant that sold the other winning ticket, Kim Ky Noodle, will get $832,500.

In the Bronx, the store has posted a sign announcing that the store sold the winning ticket. And business is now booming, Patel said.

"People say, 'Your store is lucky!' " said Patel, 60. Then, he had to cut short the interview because business at the grocery store had become so good."
 
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕
 
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Nice catch! I'm confused about this too... maybe they mean the San Gabriel winner hasn't come forward yet and the Bronx winner is choosing to stay anonymous (do you have that option when you win the lotto or are you automatically "outed"?)...?
 
Originally posted by: MrsBugi
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Nice catch! I'm confused about this too... maybe they mean the San Gabriel winner hasn't come forward yet and the Bronx winner is choosing to stay anonymous (do you have that option when you win the lotto or are you automatically "outed"?)...?

You are outed. It's the way state lotteries are run, you have no choice but to accept publicity (it's in the fine print if you accept a prize).

"Winners have one year to step forward and collect their payout. The New York winner elected to take the annual payout, instead of a lump sum, officials said. (The California winner has 60 days from the time he claims the winning to decide how to collect the millions.)"

http://www.nytimes.com/2009/08...a145d8a733a&ei=5087%0A
 
Originally posted by: MrsBugi
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Nice catch! I'm confused about this too... maybe they mean the San Gabriel winner hasn't come forward yet and the Bronx winner is choosing to stay anonymous (do you have that option when you win the lotto or are you automatically "outed"?)...?


He or she will split the money with another lucky player who bought a ticket in San Gabriel, Calif., officials said. That person has also not stepped forward.

Perhaps they chose not to reveal their identity and the lottery screwed it up.
 
Originally posted by: MrsBugi
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Nice catch! I'm confused about this too... maybe they mean the San Gabriel winner hasn't come forward yet and the Bronx winner is choosing to stay anonymous (do you have that option when you win the lotto or are you automatically "outed"?)...?

In NY, at least for the NY Lotto, you choose when you buy the ticket whether to receive the lump-sum payment or if you want annual payments. I'd imagine it's the same for the Mega Millions.

Edit: Yup, it's the same for Mega Millions
 
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Poorly written article is poor...

It means that the winner hasn't publicly claimed winning... (I think)
 
Originally posted by: Crono
Originally posted by: MrsBugi
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Nice catch! I'm confused about this too... maybe they mean the San Gabriel winner hasn't come forward yet and the Bronx winner is choosing to stay anonymous (do you have that option when you win the lotto or are you automatically "outed"?)...?

You are outed. It's the way state lotteries are run, you have no choice but to accept publicity (it's in the fine print if you accept a prize).

"Winners have one year to step forward and collect their payout. The New York winner elected to take the annual payout, instead of a lump sum, officials said. (The California winner has 60 days from the time he claims the winning to decide how to collect the millions.)"

http://www.nytimes.com/2009/08...a145d8a733a&ei=5087%0A

Crono = Official AT Lotto Expert! 🙂

Fascinating that you are automatically outed, I wasn't aware of that clause in the fine print. So if you want your money, your name/oftentimes picture of you accepting the prize money will be made public to all. I guess it makes sense in terms of marketing/advertising for the state and the whole lotto process but it's unfortunate that a person lucky enough to win would be unlucky enough to potentially become the target of con artists, scammers, etc.
 
Originally posted by: PlasmaBomb
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Poorly written article is poor...

It means that the winner hasn't publicly claimed winning... (I think)

Yeah. The lotto people know who it is, but the names weren't revealed this weekend, though I think they are supposed to be released today (haven't watched news yet, so don't know).
 
Originally posted by: JW310
Originally posted by: MrsBugi
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Nice catch! I'm confused about this too... maybe they mean the San Gabriel winner hasn't come forward yet and the Bronx winner is choosing to stay anonymous (do you have that option when you win the lotto or are you automatically "outed"?)...?

In NY, at least for the NY Lotto, you choose when you buy the ticket whether to receive the lump-sum payment or if you want annual payments. I'd imagine it's the same for the Mega Millions.

Okay, this makes sense then. :thumbsup: This isn't the case for the California lotto (I'll admit I bought a ticket, it was worth $1 to dream!), it must vary state by state.
 
Originally posted by: MrsBugi
Crono = Official AT Lotto Expert! 🙂

Fascinating that you are automatically outed, I wasn't aware of that clause in the fine print. So if you want your money, your name/oftentimes picture of you accepting the prize money will be made public to all. I guess it makes sense in terms of marketing/advertising for the state and the whole lotto process but it's unfortunate that a person lucky enough to win would be unlucky enough to potentially become the target of con artists, scammers, etc.

Well, most people take that risk when they play the lotto. You get rich if you win, but everyone you know and absolute strangers are going to want a piece of the pie. I guess most people that win are rich enough to hire lawyers, security, etc. but you still get scam requests in the mail and whatnot. I saw some special on TV (Dateline?) about how a lot of winners get their lives ruined by such huge jackpots, but a few manage to keep things pretty much the same.
 
Originally posted by: JW310
Originally posted by: MrsBugi
Originally posted by: Barfo
Originally posted by: MrsBugi
So far, the winner, who has a year to claim the prize, hasn't come forward.

Originally posted by: MrsBugi
The winning numbers on the Bronx ticket were picked at random, and the winner chose to receive annual payments, said New York's lottery spokeswoman, Jennifer Givner.

wtf? 😕

Nice catch! I'm confused about this too... maybe they mean the San Gabriel winner hasn't come forward yet and the Bronx winner is choosing to stay anonymous (do you have that option when you win the lotto or are you automatically "outed"?)...?

In NY, at least for the NY Lotto, you choose when you buy the ticket whether to receive the lump-sum payment or if you want annual payments. I'd imagine it's the same for the Mega Millions.

Edit: Yup, it's the same for Mega Millions

That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.
 
Originally posted by: BrokenVisage
That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.

Why do you need to think about it? ALWAYS TAKE THE LUMP SUM!
 
Originally posted by: sactoking
Originally posted by: BrokenVisage
That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.

Why do you need to think about it? ALWAYS TAKE THE LUMP SUM!

Why?

I've heard that if you opt for annual payments and you die, the rest of the money goes back to the state and nobody else can claim the remaining payments for you (i.e. spouse, children, family etc).
 
Originally posted by: sactoking
Originally posted by: BrokenVisage
That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.

Why do you need to think about it? ALWAYS TAKE THE LUMP SUM!

You get tons more money taking it annually, sillyhead.
 
Originally posted by: bobsmith1492
Originally posted by: sactoking
Originally posted by: BrokenVisage
That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.

Why do you need to think about it? ALWAYS TAKE THE LUMP SUM!

You get tons more money taking it annually, sillyhead.

You make way more money at a decent return rate. Plus you can use the money to make more money through strategic investments.

The annual payouts are always the worst option for anyone with half a brain.
 
Originally posted by: MrsBugi
Originally posted by: sactoking
Originally posted by: BrokenVisage
That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.

Why do you need to think about it? ALWAYS TAKE THE LUMP SUM!

Why?

I've heard that if you opt for annual payments and you die, the rest of the money goes back to the state and nobody else can claim the remaining payments for you (i.e. spouse, children, family etc).

You just answered your own question?

Although you usually get more in the end if you take the payments.
 
Originally posted by: TruePaige
Originally posted by: bobsmith1492
Originally posted by: sactoking
Originally posted by: BrokenVisage
That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.

Why do you need to think about it? ALWAYS TAKE THE LUMP SUM!

You get tons more money taking it annually, sillyhead.

You make way more money at a decent return rate. Plus you can use the money to make more money through strategic investments.

The annual payouts are always the worst option for anyone with half a brain.

tax?
 
Originally posted by: 0roo0roo
Originally posted by: TruePaige
Originally posted by: bobsmith1492
Originally posted by: sactoking
Originally posted by: BrokenVisage
That's ridiculous making you choose cash or annuity up front like that. They asked me what I wanted when I bought my Mega Millions ticket and I looked at the girl like she had 3 boobs, except at her face. Why the fuck do they need to know that right then and there? Something like that I'd crunch the numbers 10 times over before deciding if I actually won.

Why do you need to think about it? ALWAYS TAKE THE LUMP SUM!

You get tons more money taking it annually, sillyhead.

You make way more money at a decent return rate. Plus you can use the money to make more money through strategic investments.

The annual payouts are always the worst option for anyone with half a brain.

tax?

municipal bonds
 
You do get more taken out if you take a lump sum through taxes, less taxes taken out annually. Think about, take a lump-sum and put it into a highly yielding interest account and you will live off the interest for your entire life. Take some of the interest and put it right back into your savings and it'll compound. When you finally die your wealth can be given to your kids to handle or something.

 
Originally posted by: LifesABeta
You do get more taken out if you take a lump sum through taxes, less taxes taken out annually. Think about, take a lump-sum and put it into a highly yielding interest account and you will live off the interest for your entire life. Take some of the interest and put it right back into your savings and it'll compound. When you finally die your wealth can be given to your kids to handle or something.

Or you could bury your money with you!
 
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