Do you personally know a big-time lotto winner ($10 million +)?

common sense left the bldg wrote:

I cringe when I see the long lines of poor people lined up to buy tickets when there is a big payoff. People who can least afford it.

Right, I feel the same way. The thing is, I'm afraid those are the people the lottery ads often are pitched to. And many of those in line are buying multiple tickets--I'll see people walk away with what looks like about $20 worth of tickets.

The lotteries sell hope, but under the surface, I wonder if they also don't sell hopelessness: as in, "you're not going to make it without a lot of luck." So the tickets become not just a fun fantasy but an addiction.

dpmrunner wrote:

Right, I feel the same way. The thing is, I'm afraid those are the people the lottery ads often are pitched to. And many of those in line are buying multiple tickets--I'll see people walk away with what looks like about $20 worth of tickets.

The lotteries sell hope, but under the surface, I wonder if they also don't sell hopelessness: as in, "you're not going to make it without a lot of luck." So the tickets become not just a fun fantasy but an addiction.

The lottery is called "the poor man's tax" for a reason.

Here's my take.

I make decent money and have no debt, a good savings plan, 401k, IRA, etc, etc.

Sure I could take that $10-15 I use to play the lottery every few weeks and up my investments. But I get a charge out of thinking what I would do with the money if I won the Mega game or another large lottery.

To me, those few dollars buys my fantasy and it is worth it.

ps. I think Sam Cortes in IL won $24 mil. And he is the nicest, down-to-earth guy you could want to meet. (You just don't want to let him beat you in a race. The man can RUN!!!)

~yo

My cousins split what was the largest lottery prize ever at the time. They won the FL lottery in 1991. I cannot recall the amount. I think it was $98 million, but I could be off on the amount.

Everything was fine while my first cousin was alive, but when she died the kids (who were each getting share) are now all over each other.

Hey man, if you have enough discretionary income and you get some enjoyment out of it, who am I to stop you? It's not like I've never purchased a ticket or bet on a sporting event, though I generally wait until the powerball hits $100 million before I buy a ticket, and then it's only two or three at a time until the thing hits. However, most people that play commit way too much money, especially those with the least ability to do so.

If I won, I would not let the public know. Most people like being on TV or something, but you can have your name as the winner be confidential. I heard many people come out of the woodwork asking for money, "old friends" charities, etc. They tell you to contact a lawyer and a financial planner before claiming. Most people should wait a few weeks. I would be nervous about that ticket sitting around anywhere. I would like to turn it in and authenticated and then given time before I would officially claim the money.

marijuologist wrote:

I'm not terribly impressed with lottery winners. Playing the lottery is stupid and winning it certainly isn't an accomplishment of any kind.

Very true and your statement shows wisdom beyond your years.

But I do have a hypothetical question for your Brian -

If your brother stole your wallet today (instead of a few years back when you called the cops on him) and played the mega millions with all the cash you had in your wallet and actually hit the $220 million jackpot would the winnings be yours or his? Would you want any?

I guess growing pot in your parents home, although more risky than playing the lotto, certainly has greater odds for potential for profit than playing said lotto.

It also gives you an education on horticulture so bravo.

Although it does not make you smart enough NOT to call the cops to said growing facility after said brother steals said wallet.

Cheddar Vile wrote:

[quote]:

I guess growing pot in your parents home, although more risky than playing the lotto, certainly has greater odds for potential for profit than playing said lotto.

It also gives you an education on horticulture so bravo.

Well done sir! POD material!

The mega millions jackpot in my state is now over 200 million and you can be damn sure I'll be risking 10 bucks for a chance for that jackpot. For all of you letsrun pseudo financial wizards, that's called having a little harmless fun.

Cheddar Vile wrote:

[quote]:

Very true and your statement shows wisdom beyond your years.

But I do have a hypothetical question for your Brian -

If your brother stole your wallet today (instead of a few years back when you called the cops on him) and played the mega millions with all the cash you had in your wallet and actually hit the $220 million jackpot would the winnings be yours or his? Would you want any?

I guess growing pot in your parents home, although more risky than playing the lotto, certainly has greater odds for potential for profit than playing said lotto.

It also gives you an education on horticulture so bravo.

Although it does not make you smart enough NOT to call the cops to said growing facility after said brother steals said wallet.

In the future when the topic of best post on letsrun comes up, you sir, will have my vote.

Well done, you are a credit to the community!

Sagarin wrote:

The lottery is called "the poor man's tax" for a reason.

Also the tax on people who don't know math.

~

Why was my post deleted? Caps????????

Financial specialists/'advisors' who predict that you'll be worth such-and-such in X number of years are charlatans.

You have no guarantee of return and all the commercials and prosptecti you see are ESTIMATES...just GUESSES.

And YES the Bushes want to eliminate Soc Sec so their rich pals in the finance biz can control MORE MONEY from working people.

We're just cannon fodder to them.

(NO CAPS is that ok moderators???)

I'm still angry.

marijuologist wrote:

I'm not terribly impressed with lottery winners. Playing the lottery is stupid and winning it certainly isn't an accomplishment of any kind.

The lottery is a tax on people who are bad at math :-)

I don't know anyone who won a "lottery", but...

My friend from Kentucky, Dave Brumlow's (Pro Bike Stunt Rider) parents had Ed McMahon show up at their door with a check for $10,000,000 from Publishers Clearing House in 1991...

Ironically, this was only several months after a relative had died and left them a significant (in the 7 figure range) of money...

In the early 1990s, one of my teachers won $17 million in the lottery. Even before winning, we was one of the most popular teachers in school. At the end of the year, he retired, but started teaching at another school a couple years later.

As I recall, he had a long commute to work every morning, but drove out of his way to pick up our 80 year old librarian who couldn't drive. After retiring, he paid a driver to take her to school every morning and drive her home every afternoon.

The nearly 300 million was won by a couple in GA. He is an iron worker and they are grandparents. He played the days of the month of their grandchildrens' births. They better give half the money to their kids and grandkids right now for having those birthdays.

HOW MUCH ARE THOSE IRA'S WORTH NOW, FLAGPOLE?

These assholes who ran the economy into the ground & whom Paulson is bailing out were the worthless scum whom Bush wanted to have handle Soc Sec.

...yeah, how much money have people lost following the instructions of their (sound of trumpets) Financial Planners?

common sense left the bldg wrote:

I cringe when I see the long lines of poor people lined up to buy tickets when their is a big payoff. People who can least afford it.

Why wouldn't they line up if they're getting a big payoff?

agreed wrote:

The lottery is a tax on people who are bad at math :-)

I play $1 twice per week. A whopping $104 per year. I don't think that is going to set back my retirement too much. It is at the very least worth the thoughts of what I would buy first with the money (Porsche GT2). I know the odds are minute, but the odds if I don't play are zero.