In my opinion, the current billion-plus jackpot is too opulent.  Millions are okay, but a billion seems like it crosses-over into excessive realms of cupidity and covetousness.  Something's not right about how all this is going to play out.  -Hopefully just legal-squabbles. 

I never play lotteries because I'd rather bet on horses or play poker.  My friend called lotteries 'the poor man's tax'.   

Quote from: kit saginaw on January 10, 2016, 08:50:34 PM
In my opinion, the current billion-plus jackpot is too opulent.  Millions are okay, but a billion seems like it crosses-over into excessive realms of cupidity and covetousness.  Something's not right about how all this is going to play out.  -Hopefully just legal-squabbles. 

I never play lotteries because I'd rather bet on horses or play poker.  My friend called lotteries 'the poor man's tax'.

When you look at the payout for gambling it's a suckers game.  Always has been and always will be.   The state gets it cut, then the government nails you.  If you have a lot left after that, the scammer are after your money. 

A game of chance.  Thats all it is.  The amount is scary to say the least.  Roll the dice, spin a wheel, bet on a run, it's all the same.
The winner will, but , only the smart will be able to handle it.
Sometimes, lol, like now,  I have to think there something going on a tad bit shady. 
Then again what's 2$.   I could do a lot of good with it.   Well once I found an attorney that spoke "Elf". Lol.  My accountant all ready does lol

My grandmother loved to bet.

Horses, poker, lotto, you name it.

The best present you could ever giver her, was a handful of scratch-off tickets.   

I won a small lotto once, I got five out of six numbers.  It was around $2500 and I immediately spent it on an antique armoire, before it all went for bills or incidentals.  I wanted something big to show for it. 

What this SHOULD tell you is they have the odds set unreasonably high.

Quote from: ZQuickSilverZ on January 11, 2016, 11:20:01 AM
What this SHOULD tell you is they have the odds set unreasonably high.

Yeah, there should be a failsafe contingency... an 'odds reduction' situation around 800-million, in which one of the numbers are eliminated.  The way it is now, it could theoretically go on forever.

1.5 to 2 Billion sitting in a 'pool' controlled by a committee...  I don't trust it.  That's too much money.   

Quote from: kit saginaw on January 11, 2016, 03:02:28 PM
Yeah, there should be a failsafe contingency... an 'odds reduction' situation around 800-million, in which one of the numbers are eliminated.  The way it is now, it could theoretically go on forever.

1.5 to 2 Billion sitting in a 'pool' controlled by a committee... I don't trust it.  That's too much money.

I totally agree, kit!!  This smells to high heaven.  Corruption has become the hallmark of our government!! 

Just think about how much they scrape off the top each time there is no winner!!

Quote from: kroz on January 11, 2016, 05:54:49 PM
I totally agree, kit!!  This smells to high heaven.  Corruption has become the hallmark of our government!! 

Just think about how much they scrape off the top each time there is no winner!!

All that interest is going some place.  That has to be coming right off the top.

I am glad you are starting to see the lottery for the scam it actually is.

Interest and almost 50 percent taxes on any lump sum winners. They will turn around and ask for taxes after their cut then repeat the scam all over again.

Quote from: ZQuickSilverZ on January 12, 2016, 01:39:32 PM
I am glad you are starting to see the lottery for the scam it actually is.

Interest and almost 50 percent taxes on any lump sum winners. They will turn around and ask for taxes after their cut then repeat the scam all over again.

Gambling was a scam long before you were born.    Even long before I was born.  My dad gave me 20 silver dollars before I was 15.  Ten I was to gambling with the other 10 I was to invest.  He said let me know witch one makes you the most money in one year.   It did not take that long.      I dropped the first 5 the first night.  The next day I put the other 5$ with the other 10$.     

Did Illinois ever start paying full amounts on state lottery winnings? What prevents default by Powerball...besides their pious assurances?

Quote from: quiller on January 12, 2016, 03:46:50 PM
Did Illinois ever start paying full amounts on state lottery winnings? What prevents default by Powerball...besides their pious assurances?

The answer to your first question is:  Yeah... allegedly...  after officials tried to make taxpayers feel guilty by whining that the money was coming out of a 911 improvement-fund.  3-billion to improve a phone-system?  It's too late though, as lottery-winners are suing the State for lost interest-earnings...

http://www.qconline.com/news/illinois/illinois-lottery-winners-sue-for-interest-on-withheld-payments/article_7f24cf78-b946-11e5-8470-336b3be9d631.html

And your second:  I'm not sure at the moment.  As kroz and walks allude-to, the Government gets a bigger-and-bigger chunk, so the Powerball Committee is approaching becoming a defacto government-entity, propping-up the Fed's take.

Quote from: kit saginaw on January 13, 2016, 03:11:26 AM
The answer to your first question is:  Yeah... allegedly...  after officials tried to make taxpayers feel guilty by whining that the money was coming out of a 911 improvement-fund.  3-billion to improve a phone-system?  It's too late though, as lottery-winners are suing the State for lost interest-earnings...

http://www.qconline.com/news/illinois/illinois-lottery-winners-sue-for-interest-on-withheld-payments/article_7f24cf78-b946-11e5-8470-336b3be9d631.html

And your second:  I'm not sure at the moment.  As kroz and walks allude-to, the Government gets a bigger-and-bigger chunk, so the Powerball Committee is approaching becoming a defacto government-entity, propping-up the Fed's take.

If you're not patriotic-enough for them to bleed a few bucks for a war bond, then they shake you down for the MegaJillions SuperDraw.

Oy. Every generation has its weakness....

It's now 1.5 billion, I'm going to buy a ticket. 

Quote from: Dori on January 13, 2016, 09:15:37 AM
It's now 1.5 billion, I'm going to buy a ticket.

Good luck, Dori!!