700 million reasons to try to pay your lotto tax for once?

[zork]

I've never played the lotto since the first week it came out in Texas whenever that was years ago. At 700 million I'm going to pay some extra taxes for once. What do you think? Could it actually get higher than 700 million if more idiots like me play it just because?

It is slightly political because of the age old question about the lottery in general and the typical people who play are the least likely to be able to afford it if they play regularly over time.(in my opinion) My mom played religiously 1 ticket per week. (more or less regularly) Let's say 45$ a year compounded for 20 years? Significant?

 

[Seattle Husker]

Eh...I see lotto as the perfect tax. It's fully opt-in thus you don't have to pay it if you choose not to. The IRS is only applicable to the winner.

Like you I don't play Lotto. I used to play with a group of people at an old employer. We'd all put $50 in then ride it out until all the tickets were gone. The reason I played that is that I didn't want to be the only one left at the office if by chance they won.

At $700M I might play $5 just for the fun of it. I don't expect any type of return though.

 

[zork]

btw, it is 2$ a ticket now for powerball.(I assume it used to be 1$?)

 

[Seattle Husker]

btw, it is 2$ a ticket now for powerball.(I assume it used to be 1$?)

What? When did that happen? Decisions decisions...$4 or $6?

 

[HornHuskerDad]

I pay enough in mandatory taxes without also paying voluntary taxes.

 

[Phil Elliott]

Eh...I see lotto as the perfect tax. It's fully opt-in thus you don't have to pay it if you choose not to.

Holy smokes! Something SH and I agree on! Maybe *I* should buy a lotto ticket since the sky is obviously falling.

 

[theiioftx]

You should buy 2 tickets so you double your odds!

 

[zork]

For a chance at nearly a billion dollars I ended up throwing 20$, 10 chances, at it via autopic at a seemingly random quickie mart type store. (gamblers anonymous take me awaaaay)

It is up to 800 million now btw.
http://www.usatoday.com/story/news/...ing-questions-about-the-big-lottery/78401800/

 

[Sangre Naranjada]

I see it as an entertainment tax, at least in my case. If I decide to throw a couple of bucks at a huge jackpot, do I get a couple of bucks worth of entertainment out of fantasizing about winning the thing? If so, then it's two bucks well spent.

I'm with most on this board though. I don't play regularly, maybe spend $10 a year on huge-assed pots. Those who do play religiously are being taxed because they really suck at math. And I don't have a problem with that.

 

[zork]

I've never played the lotto since the first week it came out in Texas whenever that was years ago. At 700 million I'm going to pay some extra taxes for once. What do you think? Could it actually get higher than 700 million if more idiots like me play it just because?

It is slightly political because of the age old question about the lottery in general and the typical people who play are the least likely to be able to afford it if they play regularly over time.(in my opinion) My mom played religiously 1 ticket per week. (more or less regularly) Let's say 45$ a year compounded for 20 years? Significant?

I paid20$ for 10 chances. Zero for 10, 20$ to pay more taxes by me = sucker. Didn't have more than one number on any of the 10 chances.

I wasted some time during the past couple of days reading about the lottery, etc, etc. Not sure I got 20$ worth of entertainment value but that was my own fault for spending 20$ and not 4-6$ which I easily did get that much entertainment.

The jackpot reportedly ended up just shy of a billion$, 949 million. I doubt I play again any time soon. Now I can't say I have never played powerball.

 

[zork]

Glad I didn't rip up my tickets. Just read, after waking up insomnia style, that nobody won so the next jackpot will be over a billion$.

Not only that, I realized I actually did have two of my tickets with the correct powerball number only. I didn't realize that actually pays 4$ each. So:

(insert "just when I think I'm out they pull me back in" gif)

Gotta throw my winnings back at the next powerball for Wed. WTF

 

[zork]

here is the latest for the drawing tonight:

http://fivethirtyeight.com/features/billion-dollar-powerball-lottery/

 

[Seattle Husker]

I didn't get in on the Saturday night drawing but dropped $30 on tonight's drawing. Since I put in $10 more than you I'll most certainly win, Zork.

 

[zork]

you win the title of bigger sucker than zork. now, I can go back to not playing.

 

[Sangre Naranjada]

I spent $4 and won my $4 back!

 

[Aces_Full]

Don't forget to pay your taxes on that $4 windfall.

 

[Seattle Husker]

I won $8 which isn't helping my goal of getting rich.

 

[zork]

I did enjoy the process given it was over a billion dollars even though the odds were/are horrible.

They changed the rules sometime late last year so the odds of big jackpots will be more but the chances to win are even worse than before.

 

[Phil Elliott]

I spent $10 on the one last night. I don't think I will do that again. Can you buy your tickets online? Going into the store and asking for PB tickets made me feel like a broke loser. I just wanted out of there.

For my $10, I found out I am not as staunch proloteriat as I thought. I found out I am a snob when it comes to playing lotto.

 

[Seattle Husker]

When I bought the tickets I was surprised by the "cash only" response when I handed them my credit card. In hindsight, it should have been obvious that it's in nobodies interest to enrich the credit card companies from lotteries but I use it for everything, primarily for points and financial protection. The cards are paid off every month.

In the 7-11 I ventured into in downtown Seattle it seemed we were all 1st time buyers though. Someone also had to point out that there was a 7-11 just around the corner from my building. I had no idea.