If somebody really wanted to gamble they'd buy all 176 million combinations. This is gambling to the uber rich. Problem is you are most likely going to share the winnings, but you still might come out ahead.
I'd be even higher once another 176 million entered into the game. But I assume that taxes or something that us peons don't know about would affect them. Once you subject your billions to government taxes, things get hairy.
Seriously. If you take the cash payout (390 million after taxes?), you could "invest" that in an uber-conservative mutual fund and just live off the interest. Hell, even a money market account that earns 1% would get you almost 4 million a year. I think I could manage to live on that.
The website says $462,000,000 cash option, with 25% federal tax. That should be somewhere around $346,000,000 if you live in Texas.
In reality, that "cash" option is bull****. If I win 650 million dollars, I expect 650 million dollars. The lottery knows it's going to get millions upon billions of dollars that it never has to pay back.
No doubt managing that kind of money becomes a full time job to do right and many will fail to manage it even remotely well. There is no room in my life for a job when managing that kind of money. Those who don't feel comfortable managing it will open themselves up to accountants who will probably try to take advantage for themselves with some kind of money scamming/skimming or ripoff. I'd probably rather just not win it at all because it seems like a big headache to me. Many people have had their lives ruined by winning the lottery and just unable to deal with it and/or having that kind of money. I think the initial excitement would wear off and then it would become just a big burden with people hounding you for money from all walks of life or to invest in whatever.
oh please. the ones that have won the lotto and failed miserably in managing it are just plain idiots. I would love to win the lotto. Of course I'm going to be faced with publicity and possibly "money-hungry" people but I think I'm smart enough to handle all of that.
If you have to share it with two other tickets you are going to lose money. How do you buy all the combinations? There is no auto print function for that, you have to fill out that many tickets!
If you do not do stupid things, you will not be broke. You can just sit on your money and do nothing.
Most likely you would need to go to the state lottery offices and tell them what you want to do and you'd get a ticket to cover ever combination. It would need to be a coordinated effort, I'd assume.
people's background play a large role in how they handle money. the usual suspects of lotto players are financially ignorant. when you don't know how money works (beyond handing over cash in return for goods), you're going to squander it. i understand how one can blow millions of dollars, especially when one is taught to find value in luxury cars, boats, designer clothes, and large houses. those people value "status". gotta learn how to respect money to not let it ruin your life.
So the chances someone gets the exact combo of numbers is 1 in 175 million. What is that in decimal form?
