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Old 03-27-2024, 04:36 PM
 
860 posts, read 1,336,410 times
Reputation: 1680

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Quote:
Originally Posted by Sanderling View Post
I don’t think they should be banned entirely, but holy moly there should be caps on them! There is no reason whatsoever for them to work this way, with one pot expanding and expanding obscenely, enticing millions of people to throw good money after bad chasing a dream. They should put in rules so that once a pot reaches, say, 50 million or so, keep selling tickets but split the winnings so that more people have chances to win. It’s just obscene and harmful to create these hideously bloated pots (like 50 million isn’t hideously bloated enough!) again and again. It truly makes me ill! There has got to be a better way to manage these things that benefits society a bit more.

Las Vegas influence is just destructive enough when kept to the desert.
Yeah more people would play if the winnings split like that. We’d probably all crowdfund ourselves into being winners. That’s probably why they won’t do it.
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Old 03-27-2024, 04:43 PM
 
31,890 posts, read 26,926,466 times
Reputation: 24789
Quote:
Originally Posted by HudsonCoNJ View Post
If you took the lump sum and put it in a savings account, you would earn $23 million per year on interest. I would take the lump sum for sure.
Savings account (cash) would be rookie move.

OTOH S&P 500 and bonds are another matter.
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Old 03-27-2024, 05:59 PM
 
131 posts, read 137,286 times
Reputation: 151
Quote:
Originally Posted by Sanderling View Post
I don’t think they should be banned entirely, but holy moly there should be caps on them! There is no reason whatsoever for them to work this way, with one pot expanding and expanding obscenely, enticing millions of people to throw good money after bad chasing a dream. They should put in rules so that once a pot reaches, say, 50 million or so, keep selling tickets but split the winnings so that more people have chances to win. It’s just obscene and harmful to create these hideously bloated pots (like 50 million isn’t hideously bloated enough!) again and again. It truly makes me ill! There has got to be a better way to manage these things that benefits society a bit more.

Las Vegas influence is just destructive enough when kept to the desert.
Agreed. It also used to be $1 per play and it was totally unnecessary to raise it to $2.
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Old 03-27-2024, 06:42 PM
 
Location: New Jersey
11,338 posts, read 16,691,416 times
Reputation: 13341
Quote:
Originally Posted by HudsonCoNJ View Post
If you took the lump sum and put it in a savings account, you would earn $23 million per year on interest. I would take the lump sum for sure.
The lump sum is @$500,000.000 before taxes.

Maybe $300,000,000 after. So maybe $15,000,000 a year in interest and now pay taxes.

Would still take the annuity.
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Old 03-27-2024, 07:04 PM
 
Location: Durham NC
5,134 posts, read 3,747,404 times
Reputation: 3683
Quote:
Originally Posted by DannyHobkins View Post
Inflation was 30% over the last 3 years. Take the money.

Tell that to Social Security.
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Old 03-27-2024, 09:23 PM
 
Location: Washington County, ME
2,025 posts, read 3,345,213 times
Reputation: 3244
I think they're fun. I'd always take the lump sum because i'm old

We only spend a couple dollars here and there, and it's exciting. (Yes i know the chances of winning are slim.) I used to go to Atlantic City and barely gamble.

If people have a gambling problem then no, they shouldn't play. But people have to TRY to be responsible.

Some of the money goes to good programs.
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Old 03-27-2024, 10:32 PM
 
10,431 posts, read 6,954,235 times
Reputation: 11499
Quote:
Originally Posted by lancers View Post
Tell that to Social Security.
People on Social Security I'm sure are hurting deeply.

Heck, I've just looked up my salary when I started my job last decade and converted it to today's dollars. I've gotten two promotions, taken on alot more responsibilty and am basically making slightly less then when I started working at this job 7 years ago.

https://www.in2013dollars.com/us/inf.../2017?amount=1
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Old 03-27-2024, 10:37 PM
 
10,431 posts, read 6,954,235 times
Reputation: 11499
Quote:
Originally Posted by Jellybean50 View Post
I think they're fun. I'd always take the lump sum because i'm old

We only spend a couple dollars here and there, and it's exciting. (Yes i know the chances of winning are slim.) I used to go to Atlantic City and barely gamble.

If people have a gambling problem then no, they shouldn't play. But people have to TRY to be responsible.

Some of the money goes to good programs.
Yeah it's not the powerball that's the issue but scratch-offs. You can probably go into any convience store during the day and see a disheveled middle aged guy, with a beat up car dropping the remainder of his bank account on scratch off tickets. Gambling is an addiction for some people and too easy for access.
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Old 03-28-2024, 04:58 AM
 
103 posts, read 38,159 times
Reputation: 252
Quote:
Originally Posted by Wells5 View Post
State sponsored lotteries should be banned. These huge jackpots induce the hoi polloi to spend the rent money and grocery money on lottery tickets, which have essentially 0 chance of winning.
Personal responsibility matters.
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Old 03-28-2024, 05:00 AM
 
103 posts, read 38,159 times
Reputation: 252
Quote:
Originally Posted by DannyHobkins View Post
Shoprite in Neptune sold the ticket.

Yes, lotteries are a scam.
How are they a 'scam?' There's always a winner.
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