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Mega Millons

easter bunny said:
Someone did it once. They had a deal with a whole bunch of mini marts to print tickets. They figured the outlay was worth it over $xxx amount because there's not just the jackpot but all the other winners: $2 for just the powerball, getting all the numbers but not the powerball, and so on. They also eliminated all the highest improbabilities like all sequential numbers. I remember they freaked out because one of the ticket machines jammed or broke and they didn't actually cover all the combinations.
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I don’t believe this, manually it’s impossible
 
According to Statista, Wells Fargo has about 232,321 employees. That means that there are about 1,302 possible Mega Millions tickets for each employee. If each employee spent 10 hours a day buying and filling out tickets for three days, this would mean each employee would need to fill out about 43 tickets per hour.

A few mini marts doesn’t come close to the headcount required to pull it off

Hell, every single 7-11 in the US couldn’t do it
 
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Winners are sometimes losers

About 70 percent of people who suddenly receive a windfall of cash will lose it within a few years, according to the National Endowment for Financial Education. With a $1.5 billion at stake Wednesday, here are some of the stories of past-winners that gamblers should know about:

Jack Whittaker
“I wish that we had torn the ticket up”
Jack Whittaker was already a millionaire when he won a $315 million in a lottery in West Virginia in 2002. The then-55-year-old West Virginia construction company president claimed he went broke about four years later and lost a daughter and a granddaughter to drug overdoses, which he blamed on the curse of the Powerball win, according to ABC News. “My granddaughter is dead because of the money,” he told ABC. “You know, my wife had said she wished that she had torn the ticket up. Well, I wish that we had torn the ticket up, too.” Whittaker was also robbed of $545,000 sitting in his car while he was at a strip club eight months after winning the lottery. “I just don’t like Jack Whittaker. I don’t like the hard heart I’ve got,” he said. “I don’t like what I’ve become.”


“He’s the last person I would have prototyped for going completely crazy but he did,” McNay told TIME on Tuesday. “No question it was because he won the lottery.”

Abraham Shakespeare
“I’d have been better off broke”
Abraham Shakespeare was murdered in 2009 after he won a $30 million lotto jackpot. The 47-year-old Florida man was shot twice in the chest and then buried under a slab of concrete in a backyard, ABC News reported. DeeDee Moore, who authorities say befriended him after his lotto win, was found guilty of first degree murder in 2012. His brother, Robert Brown, told the BBC that Shakespeare always said he regretted winning the lottery. “‘I’d have been better off broke.’ He said that to me all the time,” Brown said.

Sandra Hayes
“These are people who you’ve loved deep down, and they’re turning into vampires trying to suck the life out of me”
 
cfives said:
Rode up to the California Nevada border (Gold Ranch Casino in Verdi) to buy a winning lotto ticket, but was unwilling to wait in the long assed line to buy it. Wondering if I can claim the 1.6 billion dollar tax deduction using the 1040EZ form, or if I have to use the 1040 long form?
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Thursday last week I was on the Utah/Nevada border, cursing both Mormons and the casino industry. First thing I did when I crossed back over Cali was hit a convenience store for lotto tickets.

:laughing:rofl
 
I’d just use the money to put out my info in all the news outlets that I donated it all the a private charity.
 
Eldritch said:
You ever walk in the TL, where you can't go 4 ft without people begging at you?
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Yup. The first thing you'd have to change is your phone number!

Everybody who ever crossed paths with you is a potential moocher who will be spending every waking moment trying to figure out how to get a piece of the pie. Ever girl/guy you've ever dated will suddenly be expressing their undying love for you. Every person you've ever been acquainted with will suddenly be your best buddy/girl. Every relative will be expecting major league gifts for birthdays and christmas, and the ones that were the biggest asses to you will be the ones most expecting it.

Winners are probably better off moving several states away, and not tell anybody where they moved how much money they won. There are sure to be some people following them.
 
Eldritch said:
There are also State Tax factors to take into consideration, but it is getting high enough to where buying the lottery might be a thing to consider.
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Remember, if you buy $100million in tickets, you can deduct the cost of the tickets against the winning.
 
NorCalAthlete said:
$900 million was after the taxes. Jackpot is at $1.6 Billion.
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After the 24 percent federal take, the average annuity payment comes out to $40,533,333 per year for 30 years equaling around $1,215,999,990, while the lump sum total comes out to $687,724,000, per USA Mega.
 
easter bunny said:
I saw it on TV awhile back. I think it was the How'd They Do It? show mentioned in the post. It wasn't the billions we know today so it was a lot more manageable.

https://www.reddit.com/r/todayilearned/comments/1t8ool/til_in_1992_an_australian_gambling_syndicate/

https://www.nytimes.com/1992/02/25/us/group-invests-5-million-to-hedge-bets-in-lottery.html
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Happened in 1992 and 5M of 7,059,052 combinations. So it was manageable. Today there are 302,000,000 combination. Designed to prevent this from occurring again.

Very cool story! Crazy

Farm Fresh, said it had sold 2.4 million tickets to a man who apparently managed the purchase for the group. The man went to the grocery chain's headquarters with cashier's checks for hundreds of thousands of dollars. The chain sent couriers to 40 stores to pick up the tickets. As identification, the messengers used the man's business card, with a code word added. The company's commission was $120,000, even though it returned $600,000 for tickets it did not have time to print.
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absolutely nuts

supposedly 133 stores at 19 hours a day for 3 days = 7581 hours so 659 tickets an hour. That's manageable.
 
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Yakoo752 said:
gambling losses

absolutely
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Holy Shit shivering sheep balls. So you can claim losses as a deduction, while using those spent losses to drive up the pot. That makes the take on buying a lotto a lot easier to obtain. The take is wildly increased in that case.
 
There are 302575350 combinations. It's two bucks a ticket. If someone has 600 something million laying around. Buy all combinations. Win, write off good chunk in taxes. Profit. Lol
 
Eldritch said:
Holy Shit shivering sheep balls. So you can claim losses as a deduction, while using those spent losses to drive up the pot. That makes the take on buying a lotto a lot easier to obtain. The take is wildly increased in that case.
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but only up to the value of winnings
 
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