- The Largest Jackpot in US History -
- $1.58 Billion -
Understand that the amount advertised - $1.3 Billion -
is NOT the amount you "really" won irregardless
of how you choose to take your payout. This has
been misquoted in the press.
Things you need to know and understand ...
brought to you by
Originally Posted: Jan 8, 2016
Revised: Jan 18, 2016 - 8 PM
Editorial & Opinions by
Updated and edited for the $1.3 Billion jackpot ...
If you had won the
$800 $900 $947.9 million
jackpot here's what you would have received ...
You won a percentage of sales irregardless of whether
you take cash value or annual pay.
The true amount was $587,662,740 BEFORE taxes. It was my belief
they would increase the jackpot after the drawing as they had excess
money in the jackpot prize pool. Unfortunately, the winner would
not have received all that was allocated for a jackpot winner.
(Figures as of
01/08/16 01/10/16 - 1 a.m. - based on an advertised
$800 $900 $947.9 million Powerball jackpot and a factor of 1.613% )
So, if you take cash value - they will pay you a gross amount of an est $587,662,740
but after 45% in taxes, that amount would be an estimated $323,214,507 net.
(The states will take 25% in taxes but you will owe more at the end of the year)
This is a far cry from the
$800 $900 $947.9 million currently being advertised.
If you take annual pay, they will invest the cash value amount shown above
giving you a guarantee that in 30 years, you will receive $947,900,000 GROSS.
But you will pay taxes each year of roughly 45%. Over 30 years, you
would receive roughly $521,345,000 AFTER taxes. You can handle
your own investments and make more than $947.9 million but you
would definitely need professional assisatance to do so.
If you win the $1.586,400,000 billion this is how much
receive or the amount they will invest for you to
get a return of $1,586,400,000 billion over 30 years.
(As of 01/14/16 based on a factor of 1.613%)
True Amount Won - CVO (Gross): $983,505,233
25% Tax Deducted by lottery: $737,628,925
20% Additional Tax - End of Year: $540,927,878
The jackpot prize pool had $1,082,555,400 in it
yet the winners will split only $983,505,233. The
winners have been shortchanged by <$99,050,167>
Annual Pay: Gross: $1,586,400,000 over 30 years
After Taxes: Est $872 Million
If annual pay, they would invest the $929 million then you pay
taxes each year. You would net an est $825 million - not $1.5 billion.
Remember - you won a percentage of sales but they
won't pay you the full percentage allocated ....
Is the jackpot amount they advertise deceptive?
In many ways I think it is. But the lotteries cover themselves by using the
phrase "annuitized." The problem is that most players do not understand
what "annuitized" means. Simply put, it means they will take the amount
you "really" won and invest it for you to get a return of the amount
advertised over 30 years.
19 consecutive draws without a winner. How can this be?
The answer is very simple. There's 292.2 million combinations that could win
yet they fail to sell enough tickets to produce a winner in each of the
earlier draws. There's usually 270 to 280 million combinations NOT sold.
They wait patiently for the roll to reach the level that attracts the
attention of the press to entice people into spending more money to
generate their huge income. Gary Grief would call this "easy money."
(We're suckers for falling prey to overspending to chase a dream)
The chart below shows just how many tickets were sold for each draw
in this roll. This will help you to understand why there's not been a winner.
To me, having odds this high should be outlawed by our government.
But both the states and the federal government have ulterior motives
to keep quite. It's call MONEY - TAXES.
Large Jackpots - a financial windfall for the states.
The Chart below shows the financial aspect of having
a game with such horrible odds. It eventually pays off
at the expense of the People.
|3 Jackpot Winning Tickets - Jan 13, 2016
California, Florida & Tennessee
|Date||DRAW Sales||Jackpot Amount|
Is it really best to buy Quick Picks?
No not necessarily. The reason you've heard
quick picks win more than self picks is because
the vast majority of the tickets sold are quick picks.
Players don't pick their own number - it's easier to
just buy a quick pick.
Will there be a winner
Saturday Wednesday, 1/13/16?
In my opinion, I believe the jackpot will be won. Although I thought it would
be won on Saturday but I was wrong. They did sell 440.3 million tickets
and there's only 292 million combinations. It appears there were more
duplicate tickets sold than I originally thought. Of course, there's also
lots of angry players and players who lost trust and faith because they
find it hard to believe there was no winner on Saturday. If players
back off their spending, this could be disastrous for the lotteries.
Though I doubt this will happen.
80%? Why 80% when you show an est 295 million tickets will be sold?
I say this because there a huge number of duplicate tickets sold
in all the states. They most likely still will not sell all of the combinations.
What should I do if I win?
Don't tell anyone. Keep quiet. Go somewhere to hide
until you get over the shock of winning. Then hire an attorney
and a financial planner to help you. Put your ticket in a safe
place. The lotteries tell you to sign it but I don't agree with
them on that point. That's because you may want to claim
your prize in another name and if you alter anything on that
ticket, in TX, they most likely won't pay you until they
"investigate." Players have learned this the hard way!
Is there any advise you want to give?
Yes. Don't spend your rent money or grocery money
buying tickets. If God has it planned for you to win,
then all you need is ONE ticket. The same thing with
regards to destiny. If its your destiny that you are to win,
again, you only need ONE ticket.
Buying multiple tickets only increases your chances of
winning but the amount most of us can afford to buy
is like finding a needle in a haystack. Don't overspend.
Your chances on winning are extremely slim.
On Wednesday night (01/06/16), they sold 176.1 million tickets
of which 169 million tickets were absolute losers. Imagine,
there was $340 million dollars thrown in the trash can on Thursday.
Good luck everybody.
If you win, remember, I'm your best friend! :))
Obnoxiously Harder To Win Now
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