$1.6B. OMG, what a headache that be to win. I bought a ticket for Wed's drawing and normally never waste $. I had one NUMBER. So I think I'm safe from getting a headache. But I would love to win $50k, $500k, and $1M. But that's it. I have small dreams but better odds.

 

I read an article a while back that supposedly looked at a number of people who won the lottery. The followed them and had interviews with them.

Almost everyone were unhappy. Everyone was overwhelmed by requests for money from everyone on the planet. Some winners anticipated that and set up a separate entity for people requesting donations.

Almost everyone became poorer than they were before. The one or two exceptions to the lottery dead end, were those that used none or little of the money for themselves, but set up an entity to give the money away to the causes they championed.

 

$800 million in taxes on the 1.6B ? and less money if you take the money all at once ?

We don't pay taxes on winnings here and we get all of the money advertised, but our big draws are never as big as the US, 1.6B is huuuuuuuuuge. Our big draws are around 60 million, so you still come out ahead in the US even with taxes and reduced payouts ?

 

You mean $800M don't you? It would actually be under $600M, not including possible state taxes.

 

Yes correct, $800 Million at a 50% tax amount, I corrected that. thanks.

 

Without gambling, it is hard to spend that much money.
let's assume you went home with a billion after taxes and bought low yield t-bills.
you would still have a million a year to play with and never touch the principal.

Dave. I've been tempting to crunch the numbers. you got lucky and hit a number
How many random tickets could you buy before you hit a number. worst case, a single number match. or even the powerball.
being somewhat warped, I'd love to watch what happens if a jackpot doesn't come in this time. it's unlikely.... but
there is enough volume to make the likelihood more likely than not to have a winner.
what would the jackpot go to next time. my guess 2.3 billion

but for now, I have to go get my ticket.

 

I could do a lot of good with that kind of money. Firstly, I could quit my job which I absolutely hate, and then I could do some good before I leave this world.

I would open a soup kitchen and give out free food to those who truly need it.
plus
I would also open the largest no-kill animal shelter in North America. That would be my dream, deal with animals, set on 100's of acres of land way out in the boonies.

I think you could set up some kind of trust fund where an annuity is set up for long term funding of the two projects.

 

If all of the people that played all of the different lotteries would just donate half of the money they spent on tickets the world could be a better place! Who in this world needs $1.2B?

 

Oh, that's easy to answer. Who ever is running for political office. Another billion dollars in political ads could turn the election.

 

Just think of all the people play the lottery because they think it's their "only way" would save their money and use it on themselves!!! You'd think that those of us who throw a few bucks here and there are already donating something.