1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

You and a Group Buy a Stack of Lotto Tix, and you hold the winner..

Discussion in 'BBS Hangout' started by Big MAK, Apr 29, 2010.

?

What would you do?

  1. Split it, $4MM is still a ton of money

    91 vote(s)
    87.5%
  2. Take my chances and run with the $200MM

    4 vote(s)
    3.8%
  3. Doesn't matter if the group was all my best friends, I'd still take the $200MM and run!

    9 vote(s)
    8.7%
  1. Big MAK

    Big MAK Member

    Joined:
    Nov 13, 2008
    Messages:
    4,305
    Likes Received:
    322
    Simple Question. Lets say you and a group of people (not friends, maybe people at work or something) go in together and buy some lotter tix. There are 50 people in the pot. You are the one holding all the tickets and you win the jackpot, $200 million, what would you do?

    Would you be ethical and tell everyone that was in the group (remember, they arnt your friends, just random people), and you only come out with $4 million, or would you tell everyone you lost, secretly accept the money and then put it in an account in the caymans or switzerland? Remember, if you take all the money, the Feds will be after you in no time and would never be able to come back to the states, or any country where the govt would be able to take you from. You would more or less be in hiding for the rest of your life... hiding on a private island with beautiful topless women (or men, if that's your thing) and $200 million USD.
     
  2. MadMax

    MadMax Member

    Joined:
    Sep 19, 1999
    Messages:
    76,683
    Likes Received:
    25,924
    take the $4 million and sleep at night.
     
  3. BmwM3

    BmwM3 Member

    Joined:
    May 19, 2002
    Messages:
    3,896
    Likes Received:
    255
    I'll split it. But that's just me. Taking the money and running with it, will bite you in the end.
     
  4. Blake

    Blake Member

    Joined:
    Apr 7, 2003
    Messages:
    9,970
    Likes Received:
    3,005
    I would be honest about it and would be thrilled that earning 5% on 4 million would get me an additional $200k per year
     
  5. Qball

    Qball Member

    Joined:
    Nov 9, 2001
    Messages:
    4,151
    Likes Received:
    210
    You must be one greedy f**k to take the money and run...
     
  6. Nero

    Nero Member

    Joined:
    Jun 12, 2002
    Messages:
    6,447
    Likes Received:
    1,429
    Split the money of course.

    Unless you like the idea of having 50 different people looking for you to kill you for the rest of your life.

    And they WOULD find you.

    Besides, none of those 'office pools' of lotto tickets just leave the tickets' numbers in the hands of one person - they make photocopies and hand them out to everyone, so everyone would know the ticket won.

    Easy question.
     
  7. no_answer

    no_answer Member

    Joined:
    Feb 13, 2003
    Messages:
    2,135
    Likes Received:
    167
    Split it.

    If you want all the money for yourself, don't get into a lotto pool.
     
    1 person likes this.
  8. TexasFight

    TexasFight Member

    Joined:
    Dec 6, 2007
    Messages:
    1,813
    Likes Received:
    85
    I've always wondered what the tax implications are on something like that?

    I would suspect whoever turns in the winning ticket is legally the "winner" and gets all of the winnings. However (s)he chooses to split up the winnings with the group is out of the government's hands. Thus, the person turning in the ticket would legally have to claim the entire amount as taxable income on his/her 1040 and would have to pay the tax on it.

    Am I right? Wouldn't that person then have to hope that the others (s)he splits the winnings with will fork over the $X million in taxes that the one who turned in the ticket has to claim on his/her 1040?
     
  9. BmwM3

    BmwM3 Member

    Joined:
    May 19, 2002
    Messages:
    3,896
    Likes Received:
    255
    It's funny how the people who vote to keep the money and run won't reveal themselves.
     
  10. Rocket River

    Rocket River Member

    Joined:
    Oct 5, 1999
    Messages:
    65,255
    Likes Received:
    32,965
    Split it.
    or
    Get your head Split!

    QUESTION: What legal recourse does the group have in this instance?
    I suspect none.

    Rocket River
     
  11. DaDakota

    DaDakota Balance wins
    Supporting Member

    Joined:
    Mar 14, 1999
    Messages:
    129,197
    Likes Received:
    39,690
    You entered into a contract, if you don't follow through you will not only lose all your friends, but the money too.

    DD
     
  12. Big MAK

    Big MAK Member

    Joined:
    Nov 13, 2008
    Messages:
    4,305
    Likes Received:
    322
    I believe taxes are at 30% for lottery winnings over a certain amount (probably in the low tousands). I remember looking this up because I thought it would be taxed as income, so most of it would be around 45%, but was surprised the govt wasnt sticking it to you... as much,.
     
  13. Rocket River

    Rocket River Member

    Joined:
    Oct 5, 1999
    Messages:
    65,255
    Likes Received:
    32,965

    How do you prove a verbal contract?

    Rocket River
     
  14. Hou_rox

    Hou_rox Member

    Joined:
    Jun 29, 2006
    Messages:
    530
    Likes Received:
    44
    This would be a perfect plot for a movie...

    But I'd split the money, no doubt. I wouldn't want those other 49 people doing the same thing to me, so yeah.
     
  15. Someguy1229

    Someguy1229 Member

    Joined:
    Jun 22, 2009
    Messages:
    2,855
    Likes Received:
    116
    Not if you get on a plane to Maui first. :p
     
  16. emjohn

    emjohn Member

    Joined:
    Jul 29, 2002
    Messages:
    12,132
    Likes Received:
    567
    Take your share and enjoy having a group of wealthy friends that forever love one another for bringing about financial security.

    49 witnesses help.
     
  17. MadMax

    MadMax Member

    Joined:
    Sep 19, 1999
    Messages:
    76,683
    Likes Received:
    25,924
    that's awesome :)
     
  18. macalu

    macalu Member

    Joined:
    May 19, 2002
    Messages:
    16,942
    Likes Received:
    836
    definitely split it. i can live comfortably, even at a measly 2.5% interest on 4M. i'd rather have my livelihood in tact.
     
  19. Rocket River

    Rocket River Member

    Joined:
    Oct 5, 1999
    Messages:
    65,255
    Likes Received:
    32,965

    "NNNAAA!!! They all lying on me!!" - The Enronlike A-Hole!

    Rocket River
     
  20. TexasFight

    TexasFight Member

    Joined:
    Dec 6, 2007
    Messages:
    1,813
    Likes Received:
    85
    OK, but still... only one person owes that tax, right? The person who turned in the ticket. (S)he obviously won't have the 30% of $200 million to pay on 4/15... so (s)he needs to collect it from the others (s)he splits the money with.

    You'd have to trust that your friends would man up and pay their fair share of the tax, right?
     

Share This Page

  • About ClutchFans

    Since 1996, ClutchFans has been loud and proud covering the Houston Rockets, helping set an industry standard for team fan sites. The forums have been a home for Houston sports fans as well as basketball fanatics around the globe.

  • Support ClutchFans!

    If you find that ClutchFans is a valuable resource for you, please consider becoming a Supporting Member. Supporting Members can upload photos and attachments directly to their posts, customize their user title and more. Gold Supporters see zero ads!


    Upgrade Now