Lottery is over $1 Billion (again)

[Tulpa | 3,534]

40 minutes ago, RH said:

I think I’d have to contact a lawyer and see if I could move to a state with that option before cashing it in. I’m not sure how that works but I don’t think NC has that rule and my wife and I would 100% want it to be anonymous.

Pretty sure it applies to the state where you bought the ticket, not the state where you end up.

These states you can remain anonymous, so buy your tickets there:

Arizona

Delaware

Georgia

Kansas

Maryland

New Jersey

North Dakota

Ohio

South Carolina

Texas

Virginia

Edited July 31, 2022 by Tulpa

[avatar! | 1,827]

https://www.thedailybeast.com/these-lottery-winners-scored-big-but-their-friends-and-family-turned-on-them

“I think if you have something, there’s always someone else that wants it. I wish I’d torn that ticket up.”

Lottery winners should have the right to remain anonymous. As @Tulpa noted, some states do allow for that.

[Tabonga | 2,330]

1 hour ago, Tulpa said:

Pretty sure it applies to the state where you bought the ticket, not the state where you end up.

These states you can remain anonymous, so buy your tickets there:

Arizona

Delaware

Georgia

Kansas

Maryland

New Jersey

North Dakota

Ohio

South Carolina

Texas

Virginia

I think you can set up blind trusts anywhere in the country and that will mask your identity.

[Tulpa | 3,534]

18 minutes ago, Tabonga said:

I think you can set up blind trusts anywhere in the country and that will mask your identity.

You can, but some states will still require you to publicly disclose lottery winnings within a certain time after the redemption of the ticket. And some specifically state that a blind trust doesn't absolve that. Others just straight up make your name public record.

Poking around the intertubes says that Massachusetts allows the blind trust loophole, but some of the others are "don't even try that shit."

Edited July 31, 2022 by Tulpa

[Estil | 1,265]

1 hour ago, avatar! said:

https://www.thedailybeast.com/these-lottery-winners-scored-big-but-their-friends-and-family-turned-on-them

“I think if you have something, there’s always someone else that wants it. I wish I’d torn that ticket up.”

Lottery winners should have the right to remain anonymous. As @Tulpa noted, some states do allow for that.

Well a fellow from Illinois somehow beat the astronomical odds.  Like I said, I hope he/she does the 30 year thing and doesn't get hit with this lottery curse/dark side.

PS: My would be numbers were not even close  

[Tyree_Cooper | 771]

i win the lottery, i buy ebay and the right to keep all auctions sold, so imma have all full sets of all games sealed, cib, loose, broken, all magazines, all soundtracks, all posters, all prototypes, all arcade cabinets, motherboards, everything will be automatically shipped to a hangar i will build somewhere with a lot of space, like on the moon or in a huge undeground cave. will have robot guards 24h and robot employees opening the packages and storing all nicely in cabinets, will also have robot testers to test games and pack back all manuals and everything properly inside.

[Tanooki | 4,950]

You do that, also remove the fees on shipping and tax.  Also redo it so people have fair and traditional auctions, so those that end, end where they should, not whoever snipes, snipes last wins.  That'll rattle some cages.

[nrslam | 477]

22 hours ago, Tyree_Cooper said:

i win the lottery, i buy ebay and the right to keep all auctions sold, so imma have all full sets of all games sealed, cib, loose, broken, all magazines, all soundtracks, all posters, all prototypes, all arcade cabinets, motherboards, everything will be automatically shipped to a hangar i will build somewhere with a lot of space, like on the moon or in a huge undeground cave. will have robot guards 24h and robot employees opening the packages and storing all nicely in cabinets, will also have robot testers to test games and pack back all manuals and everything properly inside.

Sounds like my garage.

[T-Pac | 7,584]

Now I'm curious how much money it would take to get every game I've ever wanted in my collection...

Of course, there are still games I'd like that aren't even available no matter how much cash you're willing to throw at them haha. (Red Sea Crossing, for example.)

-CasualCart

[avatar! | 1,827]

3 hours ago, CasualCart said:

Now I'm curious how much money it would take to get every game I've ever wanted in my collection...

Of course, there are still games I'd like that aren't even available no matter how much cash you're willing to throw at them haha. (Red Sea Crossing, for example.)

-CasualCart

Well, I suppose it depends on condition etc. How about a complete NES collection for $60k?

https://www.ebay.com/itm/303728350933

[captmorgandrinker | 1,650]

On 7/30/2022 at 11:45 PM, Tyree_Cooper said:

i win the lottery, i buy ebay 

I don't think you could buy ebay with what's left of a 1.1 billion dollar jackpot up front after taxes.

[Tulpa | 3,534]

Yeah, their market cap alone is 27 billion. Maybe talk Elon into buying it.

[Tyree_Cooper | 771]

was a joke

[LeatherRebel5150 | 1,056]

[RH | 4,965]

I actually looked at the math on that way back when the lotto first breached the $1B mark.  I can't remember the specifics but, obviously, you want to take the one-time pay out, which lowers it, plus you need to pay taxes, which varies from state to state.

In the end, you could come out ahead BUT since most always when the lotto breaks $1B people come out of the woodwork to buy tickets, your chances of winning and tying with at least one other person is considerably high.  In that case, you split it and your profits are gone.  And if it's a three-way split (also viable) then you're really, really screwed.

Not only that but IIRC, there's also no way to buy mass amount of lotto tickets.  You might be able to buy them online now, and maybe you can buy 10x at a time, but way back years ago, you had to go into a convenient store and order a lotto ticket.  To have 303m tickets, you'd have to network with many, many, thousands of people to purchase all of those tickets for you.  It's literally impossible to buy that many lotto tickets at once.  I could be wrong but I'm guessing it's designed that way so that on some off-chance we saw something like a +$3B lotto prize, no wealthy Elon Musk type would go and take the gamble on buying millions of lotto tickets.

[Mega Tank | 974]

15 minutes ago, RH said:

I actually looked at the math on that way back when the lotto first breached the $1B mark.  I can't remember the specifics but, obviously, you want to take the one-time pay out, which lowers it, plus you need to pay taxes, which varies from state to state.

In the end, you could come out ahead BUT since most always when the lotto breaks $1B people come out of the woodwork to buy tickets, your chances of winning and tying with at least one other person is considerably high.  In that case, you split it and your profits are gone.  And if it's a three-way split (also viable) then you're really, really screwed.

Not only that but IIRC, there's also no way to buy mass amount of lotto tickets.  You might be able to buy them online now, and maybe you can buy 10x at a time, but way back years ago, you had to go into a convenient store and order a lotto ticket.  To have 303m tickets, you'd have to network with many, many, thousands of people to purchase all of those tickets for you.  It's literally impossible to buy that many lotto tickets at once.  I could be wrong but I'm guessing it's designed that way so that on some off-chance we saw something like a +$3B lotto prize, no wealthy Elon Musk type would go and take the gamble on buying millions of lotto tickets.

 

On a smaller scale, but it didn't stop them.

[LeatherRebel5150 | 1,056]

@RH your already figured it out lol. I didn’t show the second half of the posts.

[Daniel_Doyce | 477]

I like how that guy thinks he is posting some really spectacular insights that couldn't be reached via 30 seconds of thought

[Mega Tank | 974]

2 minutes ago, Daniel_Doyce said:

I like how that guy thinks he is posting some really spectacular insights that couldn't be reached via 30 seconds of thought

Some people just lack the ability to think things through, common sense... etc.

[Daniel_Doyce | 477]

I was curious regarding the minimum # of tickets that need to be sold for there to be a >50% chance of 2+ winners. Since it follows a Poisson distribution, you can calculate p(0) + p(1) = 0.5 instead. The lambda, or mean, equals (num tickets) * (prob of winning).

It turns out the answer is 507,826,412. Of course, the numbers aren't truly random since some people pick their own.

Also, if you take him literally, i.e. 50% chance of exactly 1 winner, or p(1) = 50%, well, that's not possible. The max probability of exactly 1 winner is when 1/prob of winning tickets = 302,575,340 are sold, and that probability ~= 36.79%