Not Encouraging Gambling, But.........................

[SUMG]

The Tuesday Mega Millions jackpot is $340 million. If you do, the cash value option, it's estimated your payout would be $202 million (before taxes). I'm just guessing, but after taxes....you'd probably get (if you were the only winner)......$135-140 million.

That's how you and I....Joe Q. Pissant, can build the football stadium.

And yes, I know our odds of winning are miniscule. But say, if you're at a convenient store anyway, and have a buck or two.....what the heck....

Someone's got to eventually win it....might as well be a UNT fan...huh?

[CorinthEagle]

Glad to see that I'm not the only sad delusional person that thinks about this every time I see the jackpot get way up there, I thought I was slipping. How bout we all put a dollar a week in towards lotto tickets and build gomeangreen.com stadium? We could even throw Fry's name on there to satsify Plummer.

Edited March 5, 2007 by CorinthEagle

[SCREAMING EAGLE-66]

---The probability of getting killed in a car wreck on the way to 7-11 to buy a ticket may be higher than winning that thing... it once was 1 in 15,890,000 --- It is worse now.

Edited March 5, 2007 by SCREAMING EAGLE-66

[SUMG]

---The probability of getting killed on the way to 7-11 to buy a ticket may be higher than winning that thing... it once was 1 in 17,000,000 --- It is worse now.

Yeah, and people said the same thing about the odds of me getting Anna Nicole Smith pregnant.

[SCREAMING EAGLE-66]

Yeah, and people said the same thing about the odds of me getting Anna Nicole Smith pregnant.

LOL..... damn... It appears that I may be the only one that can be eliminated as a possible father of her child.... hahahaha... well at least I know that.

Edited March 5, 2007 by SCREAMING EAGLE-66

[Green Crazy]

---The probability of getting killed in a car wreck on the way to 7-11 to buy a ticket may be higher than winning that thing... it once was 1 in 15,890,000 --- It is worse now.

So your saying theres a chance.

[KingDL1]

The estimated jackpot has gone up!!!

Current Est. Annuitized Jackpot

$355 Million

Est. Cash Value

$212.5 Million

[PerryG2480]

I'll be stopping on the way home. What time is the drawing?

Also, how much would everybody be willing to donate if they won about $140 million? (or is that too personal to ask? )

I'd be good for a solid 5-10 million to get the ball rolling, that's for sure!

[GabeGMG]

So your saying theres a chance.

:lol:

Edited March 6, 2007 by GabeGMG

[SUMG]

I'll be stopping on the way home. What time is the drawing?

Also, how much would everybody be willing to donate if they won about $140 million? (or is that too personal to ask? )

I'd be good for a solid 5-10 million to get the ball rolling, that's for sure!

The drawing is Tuesday night. I think this jackpot is probably getting fairly close to the biggest lottery jackpot in U.S. history. I don't think there's ever been one for over $400 million.

Perry....not trying to spend your money, buddy, but if you win $140 million, I think you can do a little better than $5-10 million for the stadium fund. Come on, man.

[runt96]

I'll be stopping on the way home. What time is the drawing?

Also, how much would everybody be willing to donate if they won about $140 million? (or is that too personal to ask? )

I'd be good for a solid 5-10 million to get the ball rolling, that's for sure!

The drawing is tomorrow night at 10. If I were the only winner I think 30mil would be nice. How would this affect the large tax you would have to pay?

[SUMG]

The drawing is tomorrow night at 10. If I were the only winner I think 30mil would be nice. How would this affect the large tax you would have to pay?

I may be wrong, but I've always thought that you get your money, after taxes.

So, if you won, and gave a huge amount to Athletics, you'd then have a huge write-off on your 2007 taxes.

BTW......I encourage anyone who buys a ticket to do the Cash Value Option. (That way, you get a little less money, but you get it in a lump sum.Otherwise....you get your money in 25 payments.)

[KingDL1]

If I understand it right there is a special tax for lottery winners that maxes at 25%.

SO a single winner would walk home at the moment with around $160 million.

[gksmith]

I have my ticket.

Maybe NT should play the lottery once. If they win, they can use the money to build the stadium.

[SCREAMING EAGLE-66]

I may be wrong, but I've always thought that you get your money, after taxes.

So, if you won, and gave a huge amount to Athletics, you'd then have a huge write-off on your 2007 taxes.

BTW......I encourage anyone who buys a ticket to do the Cash Value Option. (That way, you get a little less money, but you get it in a lump sum.Otherwise....you get your money in 25 payments.)

Absolutely take it all at once.-- It turns out the same in the long run ...if you never spent any and just invested it (either way) you have the same amt after 25 year.s It is one of things I use in class to demonstrate several finance formulas. Beside if you die before you get it all... too bad... I have heard the balance is not paid to your estate either, the State keeps it. (that part may or may not be true) .

---Actually I think you would want to declare any "charity or university" a co-winner before you take the money and have the lottery pay that amount directly to them... That way it would go the university without paying any income tax on that. Universities don't pay income tax. It would cost YOU less tax to give the same effective amount that way.

The amount listed is pretax..and the total paid out over 25 years... the immediate pay is less but then they take tax from that too. Nothing is quite as good as it seems..... but I would still take it if offered to me...LOL

Edited March 6, 2007 by SCREAMING EAGLE-66

[runt96]

I have my ticket.

Maybe NT should play the lottery once. If they win, they can use the money to build the stadium.

That's it. charge a $3.00 athletic fee to all the students and buy mega million tickets!!!

[GoMeanGreen1999]

Yeah, and people said the same thing about the odds of me getting Anna Nicole Smith pregnant.

Good one. If I won it, I think I could at least donate 15 - 20 million for the new stadium.

[emmitt01]

If I won 140 million dollars I would write the check, outright, for 60 million for the stadium.

[Charlie NT 73]

If I won, Yes- I would pay for both the football and baseball stadiums!

That would still leave a big pile of cash to play with!

[Got5onIt]

If I won, Yes- I would pay for both the football and baseball stadiums!

That would still leave a big pile of cash to play with!

I would do the same and place a full sized statue of myself in front the entrance to both stadiums.

[SUMG]

Jackpot now up to $370 million.

Cash value option payout would now be $221 million.

Those two figures will probably rise some more before the drawing tonight.

[PerryG2480]

SUMG, you were right... I low-balled that a little!

[Baby Arm!]

Absolutely take it all at once.-- It turns out the same in the long run ...if you never spent any and just invested it (either way) you have the same amt after 25 year.s It is one of things I use in class to demonstrate several finance formulas. Beside if you die before you get it all... too bad... I have heard the balance is not paid to your estate either, the State keeps it. (that part may or may not be true) .

---Actually I think you would want to declare any "charity or university" a co-winner before you take the money and have the lottery pay that amount directly to them... That way it would go the university without paying any income tax on that. Universities don't pay income tax. It would cost YOU less tax to give the same effective amount that way.

The amount listed is pretax..and the total paid out over 25 years... the immediate pay is less but then they take tax from that too. Nothing is quite as good as it seems..... but I would still take it if offered to me...LOL

Actaully I heard a guy on the radio discussing why the pay out is better when the jackpot is this high. For lower amounts the cash value option makes sense, but when your annual payment would be several million a year, that would be more than enough for most people to do whatever they wanted so you'd have plenty of cash on hand.

When you take the cash value option you are selling your annuity to the state for about 50 cents on the dollar, but if you take the 25 payment option you can sell the annuity to anyone you want. There are lots of priviate firms that buy them, and you can negotiate for a better rate than .50 on the dollar. Also with the state you have to sell the whole 25 year annuity, with private firms you can sell just a portion, 5, 10, 15 years etc

And you are right about if you die the payments stop. But most lottery winners set up a trust fund before they claim the prize. The trust (that you control) is a legal entity and is declared the winner and payments go to it. If you die, the trust lives on and still gets the money for you heirs or who you want.