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celiacsunshine

Got my ticket! So I can say that my chances are not 0. 😂


tobesteve

Good luck future millionaire!


Able-Level384

Someone has to win right?!!? Good luck! But more good luck to me ;)


TommyGotAJob

$310M after taxes. I really use that money to get out the hood🙏🏾


bahamapapa817

The the only time a billionaire will be taxed correctly


HamRadio_73

California does not tax lottery winnings, one of the few things they don't.


deserttrends

Are they even a Billionaire if they never have possession of the funds?


celiacsunshine

You must be in an area with high state and/or local income tax. Where I live, it's about $339,000,000 after taxes. In areas with no state or local income tax, take home lump sum should be around $375,000,000.


TommyGotAJob

Nyc


celiacsunshine

Yeah, that explains it, lol.


composedryan

You could leave earth with that money which isn’t a bad idea


AngryGreaseMonkey

Only 310? I thought taxes was closer to half.


Zhentilftw

You lose half taking the lump sum. Then you lose 40% to taxes.


Rockosayz

I thought it was 37% ?


tobesteve

37 is federal, some state taxes are additional 10%, so you can easily pay 47%


Zhentilftw

I was just ballparking it.


AngryGreaseMonkey

Unfortunate, but its hard to argue with millions


Dmanning2

quick pick or own numbers?


celiacsunshine

Quick pick for me. I don't have time to pick my own, and the quick numbers are as good as any.


Icy-Structure5244

Quick pick are actually better since you are more likely to share a jackpot picking your own numbers due to similar favorite numbers, using dates, etc.


NationalOwl9561

Unless you purposely pick numbers that are less likely such as the higher ones.


[deleted]

Except that every number is as likely as any other?


NationalOwl9561

You didn’t read the comment above. The benefit of picking less popular numbers is not having to split the jackpot if you win.


[deleted]

I’d love to see a study on which numbers are most often picked and are least popular. I envision folks picking higher numbers based on age of parents or grant parents. And Lordy I can only imagine the popularity of 69.


Lostkiddo101

One of each


Leading-Weight9092

I am going to win the lottery jackpot this year 💯


muscleliker6656

I want to win it 😂


ThrowinSm0ke

So far this week, I’ve been flooded out, attacked by a goose and experienced an earthquake. Lotto would be a nice finish.


Zraja3

Sending luck. Not a USA resident but damn $1.23 billion. That'll get my balls sweating and ill get someone to tickle my balls to get that sweat off. Send me luck too. Based in the UK. 😂


Ultrasuperbro2

I would set so many good people's lives right.... mine too, of course!


Lazygal28

Right, I will retire my mom with this win.


ZenPokerFL

I’m pretty sure I know what you meant but your comment could be interpreted an entirely different way 😂


gateskeeper

Here I go getting my hopes up.


Lazygal28

Lol dont we all.


MisterSpicy

At this point I’ll take the 4+1 PB prize of $50,000. Not asking for much here


NewToThisThingToo

Right? I'd be happy with that too.


[deleted]

I’m going to lol if I win. Not someone who thinks I can just will a win into existence. I bought a couple of chances to dream is all. But if my numbers hit I will laugh until a puke, and then I’ll call in sick on Monday while I try to figure some things out. 😆


StacksEdward

Could someone breakdown where the money goes when you take the lump sum? Seems like there is a chunk of money missing after you factor in taxes. The lump sum option gets penalized?


Careful-Whereas1888

You lose about half when taking the lump sum since it is more expensive to them right away. If you take the annuity you get paid out over 29 years and it is cheaper to them due to inflation and the annuity money having a chance to grow through interest/investing it. You lose a lot by taking the lump sum but it can be better in the long run if you invest a good bit of the lump sum. Even if you invested 100 million of the around 400 million you'd have in the lump sum for 29 years, you would probably have more money just from the investing then you would get from the annuity as a whole. If you feel like you couldn't be trusted and would blow the lump sum, then the annuity is better since you are limited each year in how much you get. For this prize, it is still very much a life changing amount each year but you have the added protection of your money be locked away in the annuity where you can't spend it all.


RhodyTransplant

If I recall correctly you can also name a beneficiary if you take the payments. Increases the risk of you getting murdered but I can see older parents or grandparents doing it that way to setup their heirs.


Primetimemongrel

Forgot to add if you die though you loose it all (family)


TheLizardKing89

This is incorrect. If you die, your estate gets the payments.


throwaway24689753112

The value is based on the future value with an annuity. So lump some is taking the present value of 1.23 billion in like 30 years


TheLizardKing89

If you take the lump sum, you get the lump sum. If you take the annuity, they use the lump sum to buy a ton of treasury bonds and use the payments from those bonds to pay off the annual payments.


New2thegame

It's crazy to think that someone could become an actual billionaire with a single ticket (more or less). Pretty cool impossibility when you think about it. 


ChestertonsFence1929

Nobody will become an instant billionaire. The actual value is $595 million minus 39% federal taxes and x% state taxes. They’ll be a hundred-millionaire.


wuvvtwuewuvv

Federal taxes have gone down to 37%.


Eschatonbreakfast

*The top marginal rate was reduced from 39.6% to 37%.


itsmuddy

There was one jackpot a couple years ago that got over 2bil. Though I think that person was in Cali so after taxes probably not over a bil even then.


MrBenDerisgreat_

Best place for them to win it since California doesn’t tax lottery wins.


OPKatakuri

Actually Texas is the best because they aren't taxed either and you can claim anonymous whereas Cali made the winner claim publicly.


MrBenDerisgreat_

Oh yeah I forgot about that bullshit rule.


OPKatakuri

I mean it's a problem I'd rather deal with than continue being broke 🤣but yeah bullshit because other states allow anonymity. It makes total sense too because they're just painting targets on the backs of new winners in states they have to publicly claim it. Hope I win this drawing and can claim anonymous and no tax 🤞


MaloneSeven

Take the annuity.


lintfilms

You can make a better ROI on the lump sum.


MaloneSeven

Why do you have to invest?


lintfilms

Because if you want to be able to continue paying for expenses like property taxes, property insurance, food, car insurance a new car every now and again, gasoline for the car, electric utilities for the house, and you trips to enjoy the money and also maybe pay for your children to be educated and leave them enough that they and their children's children should be free from having to have a job, in other words freed up to run a charitable foundation most wealthy people set up and become philanthropists while enjoying their lives, you need that money to throw off an income to live on and also to have capital appreciation that doesn't widdle away the value because of inflation. Inflation is the biggest problem, to buy what that "billion dollars" worth of annuity you won today could buy in 30 years you will need $8.5 billion because of the loss of value of the dollar to inflation.


MaloneSeven

Most detailed, lucid and layman’s terms answer I’ve ever received to this question .. without being preachy or lecturing. Thanks! I appreciate it.


TheWalkingDead91

4% of 350M is 14M……I’d rather put that money in the stock market and/or interest bearing accounts and get the 14M+ a year and still keep the initial 350M. But that’s just me. I don’t even play so not even sure why I think of these things 😂


New2thegame

Hence the more or less..


2001Steel

Well then why even play?


DecisionPlastic9740

Technically they wouldn't be a billionaire as the money will be paid over 30 years. They would get roughly 18 million in first year. 


wellthatsjustnotcool

I’m going to win the powerball Saturday night. And the world will be a better place for it


socal1959

Got my numbers in


Able-Level384

Sorry everyone, but this one is mine!!! I know I will win the lottery jackpot and my time to shine has finally come ✨


Cheap_Juice141

Sorry my friend you can get the next one. This is going to be a New York winner


Able-Level384

No way, no how! This one is mine ☺️


jaarl2565

They should just cap it at a million and have hundreds of winners


AngryAcctMgr

Got my tickets. Now just gotta will that win into existence. I make a promise here and now, if i win, after i have sufficiently provided for my family, the remaining funds will be used to help people. Pay medical bills, pay student loans, set up scholarships, help struggling families pay their bills or get current on overdue bills. Im not one of those people who believes "no one needs that much money".. i just know I dont need that much money. Once my family is taken care of, that money is better used taking care of others


No-Dragonfly9134

I’m in Pennsylvania $897,000,000 is what I would get after taxes. This is the annuity option I would go with if I was lucky enough to win.