I GOT THE POWERBALL!!!!

Sgt PSN · February 19, 2006, 09:23:03 PM

Unfortunately, that was the only number I drew. Me and a couple buddies drove down to SC Friday after work to buy lotto tickets. I picked up $20 in tickets and among all of them, I only got 1 number right. It was the powerball (29).

Oh well, at least I had a nice little road trip with a couple of my friends. $:-\$

The total prize was up to $368 million and 1 person ended up hitting it. I don't play the lotto very often at all but for a chance at that kind of scratch, the 2 hour drive was worth it. Anyone here play the lotto at all? I know at least one of you drops $50 a week on it.

Susquehanna Birder · February 19, 2006, 09:27:17 PM

I only play one $1 ticket...and this time I got 2 numbers.

Diomedes · February 19, 2006, 09:33:10 PM

I don't play at all. That way I can't lose.

Geowhizzer · February 19, 2006, 09:35:49 PM

It would be a long drive for me to get one. I think I've played the lottery twice in my life.

Sgt PSN · February 19, 2006, 09:41:28 PM

The lotto is going coming to NC in April or something. I highly doubt that means I'll start playing it very often but at least it will save me a 4 hour trip to go pick up some tickets the next time the total prize reaches some outrageous dollar amount.

Diomedes · February 19, 2006, 09:43:35 PM

Quote from: Sgt PSN on February 19, 2006, 09:41:28 PM
The lotto is going coming to NC in April or something.

So which is it, Sassy?

Sgt PSN · February 19, 2006, 09:45:32 PM

Um. Yes.

Wingspan · February 19, 2006, 09:46:47 PM

i bought $5 worth. i hit 1 number on 2 lines...but nadda overall.

MDS · February 19, 2006, 10:10:42 PM

Theres no way you have friends.

shorebird · February 20, 2006, 12:56:08 AM

Quote from: Sgt PSN on February 19, 2006, 09:23:03 PM
The total prize was up to $368 million and 1 person ended up hitting it.

Wow, thats one lucky s.o.b. The cash payoff on that had to be over 200 mil.

PhillyPhreak54 · February 20, 2006, 06:31:02 AM

"only" 177M is the payout. Which makes me wonder...what happens to the almost $200M that they're not giving you? The taxes can't be that much, can they?

I got 2 numbers and the powerball (17, 43 and 29).

This is the 2nd time I've ever played the Powerball lotto.

Susquehanna Birder · February 20, 2006, 07:08:15 AM

The full amount is what you get if you take it as an annuity (paid out over 20 years, I think). The cash amount is basically the principal of that. The return rate the annuity gives you is relatively low compared to other investments you can make yourself, so normally it's better to take the cash lump and manage it yourself.

Geowhizzer · February 20, 2006, 08:21:29 AM

Powerball FAQs (it's towards the end of the page)

MadMarchHare · February 20, 2006, 08:23:25 AM

The real problem with the annuity is it can't be willed over. If the name on the ticket kicks it, they stop payments.
Lump sum is the only sensible payout.

Wingspan · February 20, 2006, 08:28:00 AM

Quote from: MadMarchHare on February 20, 2006, 08:23:25 AM
The real problem with the annuity is it can't be willed over. If the name on the ticket kicks it, they stop payments.
Lump sum is the only sensible payout.

not true...from the link above

QuoteWHAT HAPPENS TO AN ANNUITY PRIZE IF THE WINNER DIES?
A lottery prize is just like any other asset. You can pass any remaining annuity payments on to your heirs or to anyone else. The Powerball game will even cash out an annuity prize for an estate. This may make it easier for the estate to distribute the prize. It also may be necessary to cash out the annuity to pay Federal estate taxes.