Powerball is now at 1.5 billion dollars

• hasbeen

  

  Ironman92;1774274 wrote:How much will I need to buy the Bengals?

  I would like to know how much an owner needs to buy and run a team.
• gut

  hasbeen;1774278 wrote:I would like to know how much an owner needs to buy and run a team.

  Winning Powerball isn't going to be nearly enough to buy a team after taxes, not even a majority share - you need something north of $1B just to buy a team, and probably another $1B to get approved as an owner to have the resources to provide stability for lean years, bonuses, etc..
  
  If you want to buy a sports team, maybe NHL...otherwise you're looking at minor league soccer or CFL.
• Ironman92

  

  gut;1774279 wrote:Winning Powerball isn't going to be nearly enough to buy a team after taxes, not even a majority share - you need something north of $1B just to buy a team, and probably another $1B to get approved as an owner to have the resources to provide stability for lean years, bonuses, etc..
  
  If you want to buy a sports team, maybe NHL...otherwise you're looking at minor league soccer or CFL.

  Well fuck.
  
  Reds value at $885,000,000
• ernest_t_bass

  

  Why buy the Reds? Lifetime box seat would be much cheaper.
• Ironman92

  

  ernest_t_bass;1774336 wrote:Why buy the Reds? Lifetime box seat would be much cheaper.

  The hell man? I can already afford tickets where I like to sit
• HitsRus

  

  It won't be enough to buy a team...not even close. While the jackpot is $900 million, if you take the lump sum distribution you'll get about 1/2 of that....$450 million BEFORE taxes, which will reduce it again by half.
• Ironman92

  

  HitsRus;1774367 wrote:It won't be enough to buy a team...not even close. While the jackpot is $900 million, if you take the lump sum distribution you'll get about 1/2 of that....$450 million BEFORE taxes, which will reduce it again by half.

  Said $588,000,000 not $450 but this has been covered
• ernest_t_bass

  

  So what is the breakdown of the $900 mill, though? Why is "lump" only half that, THEN they have to take taxes?
• ernest_t_bass

  

  NM:
  
  https://www.usamega.com/powerball-jackpot.asp
  
  So, as I understand it, the $900kk is ONLY if you select the annuity?
  
  
  
• ts1227

  

  Final jackpot: $949,800,000
  
  Numbers: 16, 19 , 32, 34, 57 PB 13
• MontyBrunswick

  

  ernest_t_bass;1774388 wrote: So, as I understand it, the $900kk is ONLY if you select the annuity?

  yes. basically all lotteries work that way.
  
  you can take a lump sum, which is basically the pooled money from ticket sales minus the states cut OR
  take the annuity, which basically gives you a set amount per year. after that first year is dispensed, the remainder of the lump gets tossed into mutual funds/bonds/etc and you are entitled to X amount per year until those funds are eventually depleted.
  
  there's no "advantage" to choosing one over the other, they're just different forms of getting your money.
  
  when taking the annuity, you also have to factor in inflation of the dollar. $1 today is worth more than $1 30 years from now when you'd be getting your last installment.
• SportsAndLady

  

  ts1227;1774415 wrote:Final jackpot: $949,800,000
  
  Numbers: 16, 19 , 32, 34, 57 PB 13

  Damnit I lost
• Mulva

  

  I made a dollar.
• gut

  MontyBrunswick;1774504 wrote: there's no "advantage" to choosing one over the other, they're just different forms of getting your money.

  It's generally thought you are better off taking the lump sum and investing. Interest rates would have to be pretty high to underperform investing, and the lower the interest rate the more you get upfront.
  
  Although I think if you were going to be conservative and responsible, you'd take a good 7-8 years to fully invest. Maybe that points to payments. Boy would it be fun to spend a week doing that analysis!
• ts1227

  

  No winner per Powerball site, $1.3 Billion for Wed.
• Lovejoy1984

  

  I would expect it to be closer to 1.6 as it comes closer. Federal Govt about to get a nice chunk of change.
• gut

  ts1227;1774532 wrote:No winner per Powerball site, $1.3 Billion for Wed.

  Damn....Hadn't even checked my tickets yet. Guess I didn't win!
• gut

  HighRoller74;1774533 wrote:I would expect it to be closer to 1.6 as it comes closer. Federal Govt about to get a nice chunk of change.

  Now that's tempting to take the payments. Will end-up $50M+ for 30 years. My god, I don't think I could spend that much money.
• friendfromlowry

  My wife said we won $4, so two more tickets for next week. Or a shot of shitty liquor.
• Rotinaj

  

  friendfromlowry;1774537 wrote:My wife said we won $4, so two more tickets for next week. Or a shot of shitty liquor.

  You really think you'll win 2 draws in a row? Wow, what a shitty way to spend your winnings. You should find a better place to spend YOUR money.
• Spock

  

  holy cow........new jackpot estimated at $1300 million
• friendfromlowry

  Spock;1774547 wrote:holy cow........new jackpot estimated at $1300 million

  
  SMH.
• HitsRus

  

  Lump sum payment stated to be $830 million.
• ernest_t_bass

  

  HighRoller74;1774533 wrote:I would expect it to be closer to 1.6 as it comes closer. Federal Govt about to get a nice chunk of change.

  LOL... who gives a shit.
• Heretic

  

  I exceeded expectations and actually had one number on my two tickets. And that's the closest I'll ever be to being a champion.