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When You Win PB or Mega Lottey

Isualum13 said:
Thats why I don't buy tickets unless the jackpots get high enough that it's worth throwing away a few dollars for the chance.
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I do the same, but it's completely illogical. I'd be thrilled with a $1M prize.

I work with a guy who buys lotto tickets all the time, but stops when the pot gets large enough for the media to start mentioning. He doesn't want to risk the publicity.

We're all weird.
 
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Nelcyn said:
Negative expected return with the lottery. You would never invest in a stock that has a negative expected return. It is just another way to tax the poor.
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When the jackpot gets this big, the expected value does exceed the price of the ticket (factoring in taxes and assuming one winner).

As the jackpot continues to grow and more people buy tickets, the chances of multiple winners increases and the expected value dips back below the price of the ticket.

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How Much Is a Mega Millions Lottery Ticket Worth?

Calculating the expected value of a lottery ticket based on the odds.
www.aaii.com
 
I could afford a house!
Then I'd settle in for a few years as a stay at home dad. With more golf money while kids are in school :)
 
Dopey said:
I do the same, but it's completely illogical. I'd be thrilled with a $1M prize.

I work with a guy who buys lotto tickets all the time, but stops when the pot gets large enough for the media to start mentioning. He doesn't want to risk the publicity.

We're all weird.
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I mean even if it's just a $50M Powerball win, everyone in your area is going to know. Like the couple from Bondurant.
 
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ianoconnor said:
I mean even if it's just a $50M Powerball win, everyone in your area is going to know. Like the couple from Bondurant.
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Their prize was $202 million, second biggest in Iowa at the time. Now, he's a state representative, a true aristocrat
 
ianoconnor said:
I mean even if it's just a $50M Powerball win, everyone in your area is going to know. Like the couple from Bondurant.
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I would move to rural south dakota closeish to an airport where a jet can land. Build a nice house but nothing so big to draw a lot if suspicion. Also shut off my phone and get a new burner as needed and only give the number to a small number of people.

I jokingly tell my coworkers if I'm not at work the day after the drawing not to look for me. So hopefully I don't die that night. Might be more likely.
 
Probably buy a place in Maui. Then build a compound near jack trice/ Hilton.

www.zillow.com

9 Bay Dr, Lahaina, HI 96761 | Zillow

9 Bay Dr, Lahaina HI, is a Single Family home that contains 6645 sq ft and was built in 1996.It contains 7 bedrooms and 8 bathrooms.This home last sold for $26,450,000 in October 2024. The Zestimate for this Single Family is $22,674,700, which has decreased by $440,813 in the last 30 days.The...
www.zillow.com www.zillow.com
 
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ianoconnor said:
I mean even if it's just a $50M Powerball win, everyone in your area is going to know. Like the couple from Bondurant.
Click to expand...

Buy or rent a place in a small town far away from you. Change your legal residence to there and claim the ticket at that address. Much less publicity and maybe someone won’t look into where you actually live.
 
LeaningCy said:
When the jackpot gets this big, the expected value does exceed the price of the ticket (factoring in taxes and assuming one winner).

As the jackpot continues to grow and more people buy tickets, the chances of multiple winners increases and the expected value dips back below the price of the ticket.

View attachment 115266

View attachment 115267

How Much Is a Mega Millions Lottery Ticket Worth?

Calculating the expected value of a lottery ticket based on the odds.
www.aaii.com
Click to expand...
Only buy when the jackpot is large. Still not liking those odds. "Probable outcome is a complete loss of dollars speculated."
 
FallOf81 said:
Well for $2 it's worth the fun to dream. After getting my ticket I don't check the winning numbers. I figure if the state is mentioned I bought it. Good start. If I drive past the location I purchased and there are 10 media trucks ... I better check. It's all fun!!
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Same as what I do.
 
Clonehomer said:
Buy or rent a place in a small town far away from you. Change your legal residence to there and claim the ticket at that address. Much less publicity and maybe someone won’t look into where you actually live.
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That's why you crate an LLC or a Trust to hide your identity.
 
Clonehomer said:
Buy or rent a place in a small town far away from you. Change your legal residence to there and claim the ticket at that address. Much less publicity and maybe someone won’t look into where you actually live.
Click to expand...
Hopefully you bought the ticket at a small store, otherwise they always pull any video of the purchase and double check.
 
Just want to make sure I am doing things correctly. Are we boycotting Hy-Vee's for this as well so they don't get the winning store bonus?
 
wxman1 said:
Just want to make sure I am doing things correctly. Are we boycotting Hy-Vee's for this as well so they don't get the winning store bonus?
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I know if I win, it will just be the Peanut Butter and not the Mega Millions. What kind of bonus do they get for a jar of Peanut Butter?
 
Blum and Jamie would be my first 2 contacts after the obvious lawyer and financial advisor. I'd also buy the house I lived in during my 5 years in Ames. After that off to Maui or somewhere in the Caribbean for awhile to decide what I want to do with the rest of my life.
 
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