Euromillionairs
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Roger Wright wrote:
take the payout in a lump sum
That's a choice.
Roger Wright wrote:
pay extortion taxes to the state and Feds
Same with other legalized gambling.
PIEBALDconsult wrote:
That's a choice.
Almost any smart investor is going to make more with the lump sum then the lottery will count to it.
PIEBALDconsult wrote:
Same with other legalized gambling.
Right, and any good gambler knows that if you can only win half as much, the payoff goes below one dollar on the dollar. Yo are back to losing by analysis. Of course, if you don't play, you won't win. And if you don't run across a highway at rush hour, you won't not get hit by a truck doing. So the only way to not get hit by a truck on the highway is to run across the highway.
Opacity, the new Transparency.
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Roger Wright wrote:
A lottery is a tax on people who are bad at math.
I got into this with my statistics professor in college once. He made a thorough point of just how bad the odds were. Then I pointed out that yes, the odds are bad. But my odds of winning are just as good as anyone elses. I thought the vein in his forehead was going to pop....
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Why does asking about the lottery bring out the most ridiculous annoying superior attitude in people? "oh I don't play the lottery, I'm not an idiot like you" Only an idiot *wouldn't* play the lottery. It's cheap, it's fun to watch the draws, in almost any area the lottery funds are used for things like hospitals and important social causes and finally there is a chance you could win. There are probably less than 6 degrees of separate between most of us and a decent sized jackpot winner. So to all you supercilious bastards out there enjoy your miserable attitudes.
Yesterday they said today was tomorrow but today they know better. - Poul Anderson
John, Give the money to a charity, make up a set of numbers and watch the lottery drawing. Then each time you see when you would have failed, you know you got the write-off. That's about 33 cents on the dollar, which is way better than the lottery, and every time you would have been a loser, you are now a winner! You 'make' more money. You win more often. A good cause gets the money. The government doesn't steal any. Where is the down side?
Opacity, the new Transparency.
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Optional tax.
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John, Give the money to a charity, make up a set of numbers and watch the lottery drawing. Then each time you see when you would have failed, you know you got the write-off. That's about 33 cents on the dollar, which is way better than the lottery, and every time you would have been a loser, you are now a winner! You 'make' more money. You win more often. A good cause gets the money. The government doesn't steal any. Where is the down side?
Opacity, the new Transparency.
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Some people just have no romance in their souls. :)
Yesterday they said today was tomorrow but today they know better. - Poul Anderson
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Romance. There is another thing to spend the money on. You are more likely to get lucky. ;P
Opacity, the new Transparency.
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Already got that covered with a $10,000.00 hot tub. ;)
Yesterday they said today was tomorrow but today they know better. - Poul Anderson
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Considering that the odds of being killed by lightning are about 1:1,000,000 I suspect life insurance is a better bet. ;P As to sharing, when you take the payout in a lump sum rather than spread over 25 years, you get about half of the total. Then you get to pay extortion taxes to the state and Feds, leaving you with about 60% of the already diminished total. You'll be practically a pauper with only $78 million to show for your risk. ;P
"A Journey of a Thousand Rest Stops Begins with a Single Movement"
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That half the total is what it costs the lottery to buy the 25 year annuity. If you have anything approaching risk tolerance you're better off taking the lump and investing it in something with a better rate of return.
3x12=36 2x12=24 1x12=12 0x12=18
I know, and it's a rip-off. I know how to do annuity calculations, and at today's interest rates, 50% is far more than it should be for a premium. But since an annuity is the worst possible investment, excepting life insurance, I'll still take the lump sum despite the obvious fraud involved. I can do far better in the stock market, even in bad years.
"A Journey of a Thousand Rest Stops Begins with a Single Movement"