The OFFICIAL Powerball and Megamillions thread:

[eashawty]

i wish yall would stop lettin everybody know when the jackpot get stupid high like this. makin the chances harder on me & ****...a young ***** just out here tryna recieve my blessing

 

[koudie from brooklyn]

If i get it.. NT will be straight !!!

Cash prizes for every one !!!

Definitely 20 million to spread amongst each other

- Stay freshhhh

 

[jaysrcrak]

i wish yall would stop lettin everybody know when the jackpot get stupid high like this. makin the chances harder on me & ****...a young ***** just out here tryna recieve my blessing

It doesnt matter how many people play your odds are always the same. 1: 178,000,000. If more people play it doesnt affect the odds at all.

 

[jaysrcrak]

For all you lump sum guys out there, the cash option payout would be 94.5M after federal but before state taxes.
F that I want all my money. Give me the ENTIRE 291M. I think I could manage with 9.7M a year for the next 25 years. (6.3M after taxes)

 

[al audi]

If i get it.. NT will be straight !!!

Cash prizes for every one !!!

Definitely 20 million to spread amongst each other

- Stay freshhhh

i look out for the NT homies also

 

[eashawty]

For all you lump sum guys out there, the cash option payout would be 94.5M after federal but before state taxes.
F that I want all my money. Give me the ENTIRE 291M. I think I could manage with 9.7M a year for the next 25 years. (6.3M after taxes)

naw holmes its $117,900,000 after fed taxes & for ga that leaves u wit a $108,468,000 lump sum. id run around my hood **** slangin naked in the cold if i won id be so excited dead ***

 

[luckyluchiano]

Y'all play y'all own numbers or just get the randoms?

 

[$tacy]

After tonight nt, we on. Everyone in this thread, pair of kicks of your choice no matter the cost, I got yall.

 

[sharkin]

Posting for a free pair of kicks, good luck will!

 

[franco23x]

After tonight nt, we on. Everyone in this thread, pair of kicks of your choice no matter the cost, I got yall.

Thanks bro!

 

[BALH ENH]

Might play tonight. Worst i can lose is a few dollars. Gotta play to win.

 

[carver]

Gonna go ahead and drop this 5 I got in my wallet on some MM quickpicks

 

[jaysrcrak]

naw holmes its $117,900,000 after fed taxes & for ga that leaves u wit a $108,468,000 lump sum. id run around my hood **** slangin naked in the cold if i won id be so excited dead ***

View media item 683400When you take the cash option you ONLY get all the CASH that has been contributed to the Mega Millions jackpot prize pool. Which is about HALF of the advertised total.
The reason the advertised total is doubled is because the annuity payment accounts for inflation using factors like CPI to calculate how much.

291/2= 145.5M.

145.5M is the amount of actual cash that people have played since the last jackpot, minus the percentage of money that went into education funds or whatever your state's lottery uses it for.

Lottery winning are taxed at the highest federal tax rate which right now is about 35%
35% of 145.5 is 50.75M. 145.5-50.75= 94.75M

Then you have to pay state taxes. Lottery winnings are taxed at the highest state income tax bracket which in Ga is 6%
6% of 94.75 is 5.685M. 94.75-5.865= 88.865M

That is what you will get from a 291M "advertised jackpot" in Ga

And that is not even counting the money you owe the government.
Any and all student loans, court ordered judgement, back child support payment etc., will be taken out before you get a dime as well.
And dont even get me started on the lawyers.

This is also one reason lottery winners go broke. They have unrealistic expectations about how much money they are ACTUALLY getting.

 

[jaysrcrak]

You also have to understand that the amounts you see advertised(annuity jackpot and cash option amounts) are ONLY estimates.
They dont actually know how much money is in the pot until it is all collected from each state's pool. Which takes about 21 days when you win.

So the new jackpot of 344M will be 112M AFTER Federal taxes and BEFORE any state taxes for the cash option.
(344M/2= 172M-35%(60M) federal taxes= 112M)

Or you could just take the almost 11.5M a year BEFORE taxes for the next 30 years. (this is my choice)
344/30= 11.5M- 35%(4.025M) federal taxes= 7.4M a year BEFORE state taxes. Give or take a little becuase with Mega Millions each payment goes up by 5%

But if you look at that 7.4x30=222M over the life of the annuity. So as you can see you get significantly more money taking the annuity.
Over 100M more over the life of the annuity.

 

[n3rd]

Ive always heard that if you take the payments and you some how die e that no one in your family willbcontinuebto receive the payments. is that true?
either way i trust no financial institution, give me my money up front. Ill try to find yhe highest interest yeildog account i can and just live off the interest every year.

edit: sorry for the typos. on a crappy phone

 

[youngtriz]

im gonna win

 

[jaysrcrak]

Ive always heard that if you take the payments and you some how die e that no one in your family willbcontinuebto receive the payments. is that true?
either way i trust no financial institution, give me my money up front. Ill try to find yhe highest interest yeildog account i can and just live off the interest every year.

edit: sorry for the typos. on a crappy phone

No that is a MYTH. You can name beneficiaries and they can receive payment for the remainder of the annuity.
Or they can cash you out right then but alot will get eaten up in Estate taxes.
If you took the annuity you would have some protection from estate taxes.

Also it is very unlikely that you can invest the money better than the lottery would.
When you take the annuity what is happening is that you are buying U.S Treasury Security bonds, and you ARE living off of the interest that it pays you each year. These are the bonds that back up the U.s Treasury. When people say China owns the U.S it is because they own U.S Treasury Security bonds.

And the payout is GUARANTEED for the life of the annuity.
The ONLY thing that could happen that would negate those bonds would be if the U.S was no more.
And even in that instance you would see that coming down the road and there are other ways to cash out the bonds.
You wont find another investment that will yield yearly returns like these bonds.

 

[assyrianplaya]

fyi the cash option is much more than half....they def have more than 50% of cash on hand.

50% it might be for powerball. even then its a maybe.

 

[assyrianplaya]

No that is a MYTH. You can name beneficiaries and they can receive payment for the remainder of the annuity.
Or they can cash you out right then but alot will get eaten up in Estate taxes.
If you took the annuity you would have some protection from estate taxes.

Also it is very unlikely that you can invest the money better than the lottery would.
When you take the annuity what is happening is that you are buying U.S Treasury Security bonds, and you ARE living off of the interest that it pays you each year. These are the bonds that back up the U.s Treasury. When people say China owns the U.S it is because they own U.S Treasury Security bonds.

And the payout is GUARANTEED for the life of the annuity.
The ONLY thing that could happen that would negate those bonds would be if the U.S was no more.
And even in that instance you would see that coming down the road and there are other ways to cash out the bonds.
You wont find another investment that will yield yearly returns like these bonds.

the annuity is dope... you choose a decent lump first payment and then installments increase by 5% to help with inflation.

 

[jaysrcrak]

fyi the cash option is much more than half....they def have more than 50% of cash on hand.

50% it might be for powerball. even then its a maybe.

I already explained how the cash option works.
Technically you are right. You get more than half of the CASH. It ends up being abot 61or 62% of the "cash pool"

When you take the cash option you ONLY get all the CASH that has been contributed to the Mega Millions jackpot prize pool. Which is about HALF of the advertised total.
The reason the advertised total is doubled is because the annuity payment accounts for inflation using factors like CPI to calculate how much.

And you dont choose how much the first payment is. It is divided by them. But you do get the 1st payment when you
accept the prize.

 

[eashawty]

View media item 683400When you take the cash option you ONLY get all the CASH that has been contributed to the Mega Millions jackpot prize pool. Which is about HALF of the advertised total.
The reason the advertised total is doubled is because the annuity payment accounts for inflation using factors like CPI to calculate how much.

291/2= 145.5M.

145.5M is the amount of actual cash that people have played since the last jackpot, minus the percentage of money that went into education funds or whatever your state's lottery uses it for.

Lottery winning are taxed at the highest federal tax rate which right now is about 35%
35% of 145.5 is 50.75M. 145.5-50.75= 94.75M

Then you have to pay state taxes. Lottery winnings are taxed at the highest state income tax bracket which in Ga is 6%
6% of 94.75 is 5.685M. 94.75-5.865= 88.865M

That is what you will get from a 291M "advertised jackpot" in Ga

And that is not even counting the money you owe the government.
Any and all student loans, court ordered judgement, back child support payment etc., will be taken out before you get a dime as well.
And dont even get me started on the lawyers.

This is also one reason lottery winners go broke. They have unrealistic expectations about how much money they are ACTUALLY getting.

i didnt know that i just looked at usamega.com to see what the lump sum would end up being.

repped for A+ gif execution as well

 

[assyrianplaya]

Your federal %'s are off as well... it's 25% and then whatever your states tax is. In illinois for example it is 3%.

 

[putting in work]

Your federal %'s are off as well... it's 25% and then whatever your states tax is. In illinois for example it is 3%.

No it's not they tax you at the highest bracket because uncle same aka these bastards in Washington that run our country wants the biggest cut possible so they can sit on their aass more and enjoy all the nice things in life while the rest of us work our fingers to the bone.

It is not 25% they tax you at the highest possible...

 

[assyrianplaya]

No it's not they tax you at the highest bracket because uncle same aka these bastards in Washington that run our country wants the biggest cut possible so they can sit on their aass more and enjoy all the nice things in life while the rest of us work our fingers to the bone.

It is not 25% they tax you at the highest possible...

fairly easily to get it to 25% which is what it should be.... dummy llc, etc... the regular tax rate federal is 25%, thats what is shown in our retailer notes and mails (in machine) when the jackpot is this high. I'd go with that over what some random websites state.

 

[putting in work]

No it's not they tax you at the highest bracket because uncle same aka these bastards in Washington that run our country wants the biggest cut possible so they can sit on their aass more and enjoy all the nice things in life while the rest of us work our fingers to the bone.

It is not 25% they tax you at the highest possible...

fairly easily to get it to 25% which is what it should be.... dummy llc, etc... the regular tax rate federal is 25%, thats what is shown in our retailer notes and mails (in machine) when the jackpot is this high. I'd go with that over what some random websites state.

I looked at the same website that you provided up above usamega.com

The federal tax rate might be 25% for normal crap, but something like the lotto those bastards want to make sure they get the most out it as they can.

Furthermore... as jaysarecrack said it being 35% that they take federally is not true... I looked the payout and it is over 45% they take or tax out of the initial lumpsum... then your state takes their cut at whatever it is.



These F gangster hooligans.