Texas Lotto upto $100Mil

[JeffreyLebowski]

Getting a lotto ticket tonight, anyone out of state wanna paypal me a few bucks and I'll get you a ticket, you just got to split it with me.

www.texaslotto.org

 

[MacBaine]

People act like breaking 100 million is that rare an occurrance... happens in the midwest all the time..

 

[HappyPuppy]

Don't bother. If you win it will ruin your life. You wouldn't want that, would you?

 

[JeffreyLebowski]

Well most lotto's that reach 100+ are multi state lotto's. Texas's is just one state, thou we also have mega millions.

If i were to ever win, I already have it set so i can't go broke. I always get it so i will be paid in 25 annual payments, that way I don't get screwed on the taxes, and the lump sum fee.

 

[SilverThief]

I love Texas. We're our own little country down here.

 

[aylanl4]

well, I got one ticket, and I think I'll buy more on lunch today... but no more then a total of five...

 

[ElFenix]

Originally posted by: MacBaine
People act like breaking 100 million is that rare an occurrance... happens in the midwest all the time..

100 million for powerball with a 1/143 mill chance of winning is not as good as 100 mil with 1/40 mil chance of winning

mega million is also at 100 million for the next drawing (tues)

 

[Renob]

Got my tickets

 

[StinkyPinky]

What's the point? You've got more chance of coming across Elivs getting anal probed by a 50 foot alien on your lawn.

Still....$100 mill would be nice I admit. The first thing I would do is sell it for one meeelion dollars *puts little pinky in mouth*

 

[ElFenix]

Originally posted by: StinkyPinky
What's the point? You've got more chance of coming across Elivs getting anal probed by a 50 foot alien on your lawn.

Still....$100 mill would be nice I admit. The first thing I would do is sell it for one meeelion dollars *puts little pinky in mouth*

100 million with a 1/40 million chance of winning is $2.50 expected value/dollar played.

 

[Entity]

Originally posted by: ElFenix

Originally posted by: StinkyPinky
What's the point? You've got more chance of coming across Elivs getting anal probed by a 50 foot alien on your lawn.

Still....$100 mill would be nice I admit. The first thing I would do is sell it for one meeelion dollars *puts little pinky in mouth*

100 million with a 1/40 million chance of winning is $2.50 expected value/dollar played.

Assuming you actually get $100 million. What would the actual payout be?

Rob

 

[JeffreyLebowski]

Originally posted by: Entity

Originally posted by: ElFenix

Originally posted by: StinkyPinky
What's the point? You've got more chance of coming across Elivs getting anal probed by a 50 foot alien on your lawn.

Still....$100 mill would be nice I admit. The first thing I would do is sell it for one meeelion dollars *puts little pinky in mouth*

100 million with a 1/40 million chance of winning is $2.50 expected value/dollar played.

Assuming you actually get $100 million. What would the actual payout be?

Rob

Depends, if you go for one payment you get like 60% of the total, then pay taxes on top of that so you'd get maybe $45 million
If you get it in annual payments you'd get $3.44 million a year for 25 years. totalling $86 million.

 

[StinkyPinky]

Originally posted by: JeffreyLebowski

Originally posted by: Entity

Originally posted by: ElFenix

Originally posted by: StinkyPinky
What's the point? You've got more chance of coming across Elivs getting anal probed by a 50 foot alien on your lawn.

Still....$100 mill would be nice I admit. The first thing I would do is sell it for one meeelion dollars *puts little pinky in mouth*

100 million with a 1/40 million chance of winning is $2.50 expected value/dollar played.

Assuming you actually get $100 million. What would the actual payout be?

Rob

Depends, if you go for one payment you get like 60% of the total, then pay taxes on top of that so you'd get maybe $45 million
If you get it in annual payments you'd get $3.44 million a year for 25 years. totalling $86 million.

Damn...$3.5m a year. One payment would set you up, let alone 25 of them.

 

[ElFenix]

Originally posted by: Entity

Assuming you actually get $100 million. What would the actual payout be?

Rob

enough so that after taxes you could still make $1 million a year interest in an ING savings account

 

[SmoochyTX]

Originally posted by: Renob
Got my tickets

Me too!

 

[ShOcKwAvE827]

Got the winnar in my wallet!!11

 

[Entity]

Originally posted by: JeffreyLebowski

Originally posted by: Entity

Originally posted by: ElFenix

Originally posted by: StinkyPinky
What's the point? You've got more chance of coming across Elivs getting anal probed by a 50 foot alien on your lawn.

Still....$100 mill would be nice I admit. The first thing I would do is sell it for one meeelion dollars *puts little pinky in mouth*

100 million with a 1/40 million chance of winning is $2.50 expected value/dollar played.

Assuming you actually get $100 million. What would the actual payout be?

Rob

Depends, if you go for one payment you get like 60% of the total, then pay taxes on top of that so you'd get maybe $45 million
If you get it in annual payments you'd get $3.44 million a year for 25 years. totalling $86 million.

Don't you get taxed 35% on that much income? So -- $4million/year - 35% = 2.6 million, or 65 million, assuming, of course, that taxes are the same throughout the entire 25 year span (which they won't be).

Rob

 

[JeffreyLebowski]

Originally posted by: Entity

Originally posted by: JeffreyLebowski

Originally posted by: Entity

Originally posted by: ElFenix

Originally posted by: StinkyPinky
What's the point? You've got more chance of coming across Elivs getting anal probed by a 50 foot alien on your lawn.

Still....$100 mill would be nice I admit. The first thing I would do is sell it for one meeelion dollars *puts little pinky in mouth*

100 million with a 1/40 million chance of winning is $2.50 expected value/dollar played.

Assuming you actually get $100 million. What would the actual payout be?

Rob

Depends, if you go for one payment you get like 60% of the total, then pay taxes on top of that so you'd get maybe $45 million
If you get it in annual payments you'd get $3.44 million a year for 25 years. totalling $86 million.

Don't you get taxed 35% on that much income? So -- $4million/year - 35% = 2.6 million, or 65 million, assuming, of course, that taxes are the same throughout the entire 25 year span (which they won't be).

Rob

It's not income, it's "other earnings" different tax bracket.

 

[SilverThief]

got my tickets now!

 

[JeffreyLebowski]

alright texas people, 10minutes till we find out if we amillionaires.

 

[z0mb13]

Originally posted by: JeffreyLebowski
Well most lotto's that reach 100+ are multi state lotto's. Texas's is just one state, thou we also have mega millions.

If i were to ever win, I already have it set so i can't go broke. I always get it so i will be paid in 25 annual payments, that way I don't get screwed on the taxes, and the lump sum fee.

the present value of one lump sum is actually greater than 25 annual payments

always opt for the one lump sum

 

[ElFenix]

Originally posted by: JeffreyLebowski
alright texas people, 10minutes till we find out if we amillionaires.

except the drawing is at 10:12

 

[SmoochyTX]

Winning numbers:

10 - 15 - 20 - 29 - 35 - (BB) 16

 

[aylanl4]

Originally posted by: SmoochyTX
Winning numbers:

10 - 15 - 20 - 29 - 35 - (BB) 16

hey, thanks.. i couldn't get to those from work...

 

[SmoochyTX]

Originally posted by: aylanl4

Originally posted by: SmoochyTX
Winning numbers:

10 - 15 - 20 - 29 - 35 - (BB) 16

hey, thanks.. i couldn't get to those from work...

No problem.