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Germstore
Oct 17, 2012

A Serious Candidate For a Serious Time
Just gotta hide out until the next giant winner takes the heat off.

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gary oldmans diary
Sep 26, 2005

Germstore posted:

Just gotta hide out until the next giant wiener beats the meat off.
:mmmhmm:

Indolent Bastard
Oct 26, 2007

I WON THIS AMAZING AVATAR! I'M A WINNER! WOOOOO!

Retail Slave posted:

This right here.

I don't understand the whole appeal of letting people know and holding that press conference where you get the giant novelty check and letting the world know you won. In about 48 hours everyone you have ever met in your entire life will hit you up for money. I mean, sure, attention and news cameras are nice, but you're essentially just putting a target on yourself for the rest of your life.

First get a lawyer, then get a financial planner, never give power of attorney to anyone, don't tell anyone, and learn how to say "no" in case people do find out.

I'm fairly sure that the lotto obligates the winners to give some sort of promotion for the win. Showing that Joe lunchbox can win inspires other schlubs to try.

Though there was a couple in Canada that won part of the largest jackpot (at the time) and the lotto only released the names, the couple didn't take pictures and they lawyered up and vanished.

BigBallChunkyTime
Nov 25, 2011

Kyle Schwarber: World Series hero, Beefy Lad, better than you.

Illegal Hen

Indolent Bastard posted:

I'm fairly sure that the lotto obligates the winners to give some sort of promotion for the win.

Does it? I'm almost positive there have been previous winners who have chosen to remain anonymous.

Lareine
Jul 22, 2007

KIIIRRRYYYUUUUU CHAAAANNNNNN

Retail Slave posted:

Does it? I'm almost positive there have been previous winners who have chosen to remain anonymous.

There are a handful of states that will allow you to claim the prize anonymously but the rest of them are going to try to use you for promotional purposes.

praxis
Aug 1, 2003

Zyklon B Zombie posted:

I'm pretty sure winning this amount of money publicly would figuratively turn your life into a blasted hellscape and destroy you in every aspect of your life.

I'd like the chance to disprove your theory but I'm pretty sure you're correct. Every person you've ever known will come to you for money or wanting you to invest in their business idea. Your friends will hate you if you DON'T give them a few million each and there are plenty of people who will just want to rob/kidnap you. Add to that all the people who make their living suing rich people for no reason other than to settle out of court for some amount and the fact that a middle class schlub honestly has no idea how to manage that kind of money.



I'M UP FOR THE CHALLENGE.

thrakkorzog
Nov 16, 2007

Retail Slave posted:

This right here.

I don't understand the whole appeal of letting people know and holding that press conference where you get the giant novelty check and letting the world know you won. In about 48 hours everyone you have ever met in your entire life will hit you up for money. I mean, sure, attention and news cameras are nice, but you're essentially just putting a target on yourself for the rest of your life.

First get a lawyer, then get a financial planner, never give power of attorney to anyone, don't tell anyone, and learn how to say "no" in case people do find out.

From what I understand depending on the state, you may have to go stand out there with the big cardboard novelty check, although there are a handful of states where people can collect their winnings anonymously. If I win the big jackpot, I will use my money to lobby that all future Powerball jackpot winners can collect their money without a press conference.

soy
Jul 7, 2003

by Jeffrey of YOSPOS
Ok this is getting out of hand. When someone finally wins this we're going to see a spike in suicides.

Our slave society only works if becoming this rich is impossible for the lower classes.

Germstore
Oct 17, 2012

A Serious Candidate For a Serious Time
800M ceases to be "hire a good money manager" territory. It's "literally hire the best money manager on this gay rear end planet" money.

BigBoss
Jan 26, 2012

by Lowtax

Germstore posted:

800M ceases to be "hire a good money manager" territory. It's "literally hire the best money manager on this gay rear end planet" money.

My cousin Darnell went to college. I'm gonna hire him.


EDIT: srsly tho I'm gonna get ahot real estate agent and make her s my d to complete the sale of the giant house im buying anyway

Tots
Sep 3, 2007

:frogout:

Germstore posted:

800M ceases to be "hire a good money manager" territory. It's "literally hire the best money manager on this gay rear end planet" money.

Doesn't take a genius to do it yourself. Just max out the 401k and invest in some property, doesn't seem hard to me.

BigBoss
Jan 26, 2012

by Lowtax

Tots posted:

Doesn't take a genius to do it yourself. Just max out the 401k and invest in some property, doesn't seem hard to me.

LOL it's $18,000 you loving goober. You're the kind of bumpkin that goes broke in 5 years.

Germstore
Oct 17, 2012

A Serious Candidate For a Serious Time

Tots posted:

Doesn't take a genius to do it yourself. Just max out the 401k and invest in some property, doesn't seem hard to me.

Setting up a trust for yourself seems like a pro move. That way if you get your rear end sued off you can only lose so much.

Turtle Sandbox
Dec 31, 2007

by Fluffdaddy

praxis posted:

I'd like the chance to disprove your theory but I'm pretty sure you're correct. Every person you've ever known will come to you for money or wanting you to invest in their business idea. Your friends will hate you if you DON'T give them a few million each and there are plenty of people who will just want to rob/kidnap you. Add to that all the people who make their living suing rich people for no reason other than to settle out of court for some amount and the fact that a middle class schlub honestly has no idea how to manage that kind of money.



I'M UP FOR THE CHALLENGE.

Pro tip, just do what people who have money do, move into a gated AF community and let the police keep the poors away from you, get an estate lawyer, buy a small business that runs in the black, give your friends and family job preference.

People with money don't just walk outside their gated community into roving bands of mad max like bandits, also you have money, just hire a good loving lawyers, lol if you think having money is some kind of ridiculous burden, although im sure there are upper middle class educated people who think they can pick stocks so maybe you will graduate from losing money on the lotto to losing lots of money on hilariously bad bets you think are "investments".

Like do people really think suddenly not having to worry about making money for the rest of your life is so goddamned hard??

Fake Edit: These are probably the people who think its better to make 15k a year rather that 150k a year because you lose so much money moving up those tax brackets, goddamned you people are loving dumb.

Fake Edit 2: Literally pants on head dumb, maybe thats why they play the lotto though.

Turtle Sandbox fucked around with this message at 17:08 on Jan 10, 2016

EngineerSean
Feb 9, 2004

by zen death robot

Turtle Sandbox posted:

Pro tip, just do what people who have money do, move into a gated AF community and let the police keep the poors away from you, get an estate lawyer, buy a small business that runs in the black, give your friends and family job preference.

People with money don't just walk outside their gated community into roving bands of mad max like bandits, also you have money, just hire a good loving lawyers, lol if you think having money is some kind of ridiculous burden, although im sure there are upper middle class educated people who think they can pick stocks so maybe you will graduate from losing money on the lotto to losing lots of money on hilariously bad bets you think are "investments".

Like do people really think suddenly not having to worry about making money for the rest of your life is so goddamned hard??

Fake Edit: These are probably the people who think its better to make 15k a year rather that 150k a year because you lose so much money moving up those tax brackets, goddamned you people are loving dumb.

Fake Edit 2: Literally pants on head dumb, maybe thats why they play the lotto though.

you sound mad

Turtle Sandbox
Dec 31, 2007

by Fluffdaddy

EngineerSean posted:

you sound mad

Im always mad, but its literally baffling to me how people who have no money think having money will make life suck even more.

praxis
Aug 1, 2003

Turtle Sandbox posted:

Im always mad, but its literally baffling to me how people who have no money think having money will make life suck even more.

I hope they're thinking more "turn my life upside-down" rather than "make me more miserable than I am right now." You'd face a different set of concerns and hassles, but hassles much more preferable to "How am I gonna pay the power bill AND put food on the table."

cram me sideways
Apr 26, 2015
haha! nobody won the jackpot!! fuckers!!!!!

Howard Beale
Feb 22, 2001

It's like this, Peanut
think of all the the handwritten "1" signs taped to a lot of three-digit displays now, this powerball is a job creator

cram me sideways
Apr 26, 2015
*a butt slowly enters from stage left. a muffled rumble emits from it and then a ball shoots out!!! it has a number on it*

ONE!!!!!!!!!!!!!

Accretionist
Nov 7, 2012
I BELIEVE IN STUPID CONSPIRACY THEORIES

Turtle Sandbox posted:

Im always mad, but its literally baffling to me how people who have no money think having money will make life suck even more.

It's obligates a high-stakes transition from the known to the unknown for you and everyone connected to you.

Don't get me wrong, I'm buying a ticket but if I won then my first thought would , "I am so completely hosed."

VendaGoat
Nov 1, 2005

Accretionist posted:

It's obligates a high-stakes transition from the known to the unknown for you and everyone connected to you.

Don't get me wrong, I'm buying a ticket but if I won then my first thought would , "I am so completely hosed."

If your first, very first loving thought, after having won 1.3 billion dollars is "I am so completely hosed", you have brain issues.

3rd thought, ok.

But if your first reaction isn't gibbering squealing celebration, there is no hope for you.

Turtle Sandbox
Dec 31, 2007

by Fluffdaddy

Accretionist posted:

It's obligates a high-stakes transition from the known to the unknown for you and everyone connected to you.

Don't get me wrong, I'm buying a ticket but if I won then my first thought would , "I am so completely hosed."

"I am fine" (Has no money, no retirement savings, fears expensive medical conditions that would ruin you)

"I am completely hosed" (Is a multi millionaire)

Literally just live like you do now, but without the need to do work you don't enjoy and with a newfound freedom to go anywhere and do anything you wish.

Having no money means your future is unknown, once you have money you know you will be fine until you die.

Accretionist
Nov 7, 2012
I BELIEVE IN STUPID CONSPIRACY THEORIES

VendaGoat posted:

If your first, very first loving thought, after having won 1.3 billion dollars is "I am so completely hosed", you have brain issues.

3rd thought, ok.

But if your first reaction isn't gibbering squealing celebration, there is no hope for you.

Oh, underlying the sense of impending doom would be a great deal of zest and moxie, I assure you.

Edit:

Turtle Sandbox posted:

Literally just live like you do now

This is how you get Whittaker-ed.

Don't be like Jack Whittaker:

quote:

Jack Whittaker, a Johnny Cash attired, West Virginia native, is the poster boy for the dangers of a lump sum award. In 2002 Mr. Whittaker (55 years old at the time) won what was, also at the time, the largest single award jackpot in U.S. history. $315 million. At the time, he planned to live as if nothing had changed, or so he said. He was remarkably modest and decent before the jackpot, and his ship sure came in, right? Wrong.

Mr. Whittaker became the subject of a number of personal challenges, escalating into personal tragedies, complicated by a number of legal troubles.

Whittaker wasn't a typical lottery winner either. His net worth at the time of his winnings was in excess of $15 million, owing to his ownership of a successful contracting firm in West Virginia. His claim to want to live "as if nothing had changed" actually seemed plausible. He should have been well equipped for wealth. He was already quite wealthy, after all. By all accounts he was somewhat modest, low profile, generous and good natured. He should have coasted off into the sunset. Yeah. Not exactly.

Whittaker took the all-cash option, $170 million, instead of the annuity option, and took possession of $114 million in cash after $56 million in taxes. After that, things went south.

Whittaker quickly became the subject of a number of financial stalkers, who would lurk at his regular breakfast hideout and accost him with suggestions for how to spend his money. They were unemployed. No, an interview tomorrow morning wasn't good enough. They needed cash NOW. Perhaps they had a sure-fire business plan. Their daughter had cancer. A niece needed dialysis. Needless to say, Whittaker stopped going to his breakfast haunt. Eventually, they began ringing his doorbell. Sometimes in the early morning. Before long he was paying off-duty deputies to protect his family. He was accused of being heartless. Cold. Stingy.

Letters poured in. Children with cancer. Diabetes. MS. You name it. He hired three people to sort the mail. A detective to filter out the false claims and the con men (and women) was retained.

Brenda, the clerk who had sold Whittaker the ticket, was a victim of collateral damage. Whittaker had written her a check for $44,000 and bought her house, but she was by no means a millionaire. Rumors that the state routinely paid the clerk who had sold the ticket 10% of the jackpot winnings hounded her. She was followed home from work. Threatened. Assaulted.

Whittaker's car was twice broken into, by trusted acquaintances who watched him leave large amounts of cash in it. $500,000 and $200,000 were stolen in two separate instances. The thieves spiked Whittaker's drink with prescription drugs in the first instance. The second incident was the handiwork of his granddaughter's friends, who had been probing the girl for details on Whittaker's cash for weeks.

Even Whittaker's good-faith generosity was questioned. When he offered $10,000 to improve the city's water park so that it was more handicap accessible, locals complained that he spent more money at the strip club. (Amusingly this was true).

Whittaker invested quite a bit in his own businesses, tripled the number of people his businesses employed (making him one of the larger employers in the area) and eventually had given away $14 million to charity through a foundation he set up for the purpose. This is, of course, what you are "supposed" to do. Set up a foundation. Be careful about your charity giving. It made no difference in the end.

To top it all off, Whittaker had been accused of ruining a number of marriages. His money made other men look inferior, they said, wherever he went in the small West Virginia town he called home. Resentment grew quickly. And festered. Whittaker paid four settlements related to this sort of claim. Yes, you read that right. Four.

His family and their immediate circle were quickly the victims of odds-defying numbers of overdoses, emergency room visits and even fatalities. His granddaughter, the eighteen year old "Brandi" (who Whittaker had been giving a $2100.00 per week allowance) was found dead after having been missing for several weeks. Her death was, apparently, from a drug overdose, but Whittaker suspected foul play. Her body had been wrapped in a tarp and hidden behind a rusted-out van. Her seventeen year old boyfriend had expired three months earlier in Whittaker's vacation house, also from an overdose. Some of his friends had robbed the house after his overdose, stepping over his body to make their escape and then returning for more before stepping over his body again to leave. His parents sued for wrongful death claiming that Whittaker's loose purse strings contributed to their son's death. Amazingly, juries are prone to award damages in cases such as these. Whittaker settled. Again.

Even before the deaths, the local and state police had taken a special interest in Whittaker after his new-found fame. He was arrested for minor and less minor offenses many times after his winnings, despite having had a nearly spotless record before the award. Whittaker's high profile couldn't have helped him much in this regard.

In 18 months Whittaker had been cited for over 250 violations ranging from broken tail lights on every one of his five new cars, to improper display of renewal stickers. A lawsuit charging various police organizations with harassment went nowhere and Whittaker was hit with court costs instead.

Whittaker's wife filed for divorce, and in the process froze a number of his assets and the accounts of his operating companies. Caesars in Atlantic City sued him for $1.5 million to cover bounced checks, caused by the asset freeze.

Today Whittaker is badly in debt, and bankruptcy looms large in his future.

But, hey, that's just one example, right?

Wrong.

Nearly one third of multi-million dollar jackpot winners eventually declare bankruptcy. Some end up worse. To give you just a taste of the possibilities, consider the fates of:
  • Billie Bob Harrell, Jr.: $31 million. Texas, 1997. As of 1999: Committed suicide in the wake of incessant requests for money from friends and family. Winning the lottery is the worst thing that ever happened to me.
  • William Bud Post: $16.2 million. Pennsylvania. 1988. In 1989: Brother hires a contract murderer to kill him and his sixth wife. Landlady sued for portion of the jackpot. Convicted of assault for firing a gun at a debt collector. Declared bankruptcy. Dead in 2006.
  • Evelyn Adams: $5.4 million (won TWICE 1985, 1986). As of 2001: Poor and living in a trailer gave away and gambled most of her fortune.
  • Suzanne Mullins: $4.2 million. Virginia. 1993. As of 2004: No assets left.
  • Shefik Tallmadge: $6.7 million. Arizona. 1988. As of 2005: Declared bankruptcy.
  • Thomas Strong: $3 million. Texas. 1993. As of 2006: Died in a shoot-out with police.
  • Victoria Zell: $11 million. 2001. Minnesota. As of 2006: Broke. Serving seven year sentence for vehicular manslaughter.
  • Karen Cohen: $1 million. Illinois. 1984. As of 2000: Filed for bankruptcy. As of 2006: Sentenced to 22 months for lying to federal bankruptcy court.
  • Jeffrey Dampier: $20 million. Illinois. 1996. As of 2006: Kidnapped and murdered by own sister-in-law.
  • Ed Gildein: $8.8 million. Texas. 1993. As of 2003: Dead. Wife saddled with his debts. As of 2005: Wife sued by her own daughter who claimed that she was taking money from a trust fund and squandering cash in Las Vegas.
  • Willie Hurt: $3.1 million. Michigan. 1989. As of 1991: Addicted to cocaine. Divorced. Broke. Indicted for murder.
  • Michael Klingebiel: $2 million. As of 1998 sued by own mother claiming he failed to share the jackpot with her.
  • Janite Lee: $18 million. 1993. Missouri. As of 2001: Filed for bankruptcy with $700 in assets.

Accretionist fucked around with this message at 18:21 on Jan 10, 2016

VendaGoat
Nov 1, 2005

Accretionist posted:

Oh, underlying the sense of impending doom would be a great deal of zest and moxie, I assure you.

Edit:


This is how you get Whittaker-ed.

Don't be like Jack Whittaker:

Jack Whittaker posted:

Because I can
loving Lol.

czarmonger
Aug 16, 2008

ask me about my brothel
How many people in this thread actually believe there is even the slightest possibility of winning big on these racket?

It seriously takes very little brain power and knowledge to understand how truly wasteful it is to gamble with such odds.

What is even harder to believe is people who see a pattern to scratchers and don't realize that the winners are completely calculated. The real pattern is that you buy tickets and win half your money back, so you buy more until you've spent all your winning money on losing tickets.

Turtle Sandbox
Dec 31, 2007

by Fluffdaddy

Accretionist posted:

Oh, underlying the sense of impending doom would be a great deal of zest and moxie, I assure you.

Edit:


This is how you get Whittaker-ed.

Don't be like Jack Whittaker:

Its almost like people who play the lottery don't understand the value of money, like its really a tax on the poor and the dumb.

I know what I would do if I won the powerball, but im also not going to waste even 2 dollars on a ticket, the miniscule amount of calories it could buy me would be a better option.

czarmonger posted:

How many people in this thread actually believe there is even the slightest possibility of winning big on these racket?

It seriously takes very little brain power and knowledge to understand how truly wasteful it is to gamble with such odds.

What is even harder to believe is people who see a pattern to scratchers and don't realize that the winners are completely calculated. The real pattern is that you buy tickets and win half your money back, so you buy more until you've spent all your winning money on losing tickets.

People who buy scratch tickets don't understand the sunk cost fallacy, color me surprised.

Turtle Sandbox fucked around with this message at 18:30 on Jan 10, 2016

Mozi
Apr 4, 2004

Forms change so fast
Time is moving past
Memory is smoke
Gonna get wider when I die
Nap Ghost
eh if you buy one ticket knowing it's a waste, that's not too different than spending a couple of bucks on gum or something, doesn't really matter in the long run. it's just about the idle fantasies you can entertain before some other numbers are drawn anyways

Germstore
Oct 17, 2012

A Serious Candidate For a Serious Time

czarmonger posted:

How many people in this thread actually believe there is even the slightest possibility of winning big on these racket?

It seriously takes very little brain power and knowledge to understand how truly wasteful it is to gamble with such odds.

What is even harder to believe is people who see a pattern to scratchers and don't realize that the winners are completely calculated. The real pattern is that you buy tickets and win half your money back, so you buy more until you've spent all your winning money on losing tickets.

What a hot take. I don't think anyone in this thread knows what 1:300,000,000 means.

e: scratch offs are gently caress, and anyone who buys them is an idiot, but $2 for an idle fantasy is- I mean hell a coke zero is roughly the same price.

boom boom boom
Jun 28, 2012

by Shine

VendaGoat posted:

loving Lol.

quote:

Whittaker already had a net worth of over US$17 million before his Powerball windfall.

Dude was already rich, he should've known better. He was just a crazy moron.

Accretionist
Nov 7, 2012
I BELIEVE IN STUPID CONSPIRACY THEORIES

czarmonger posted:

How many people in this thread actually believe there is even the slightest possibility of winning big on these racket?

It seriously takes very little brain power and knowledge to understand how truly wasteful it is to gamble with such odds.

What is even harder to believe is people who see a pattern to scratchers and don't realize that the winners are completely calculated. The real pattern is that you buy tickets and win half your money back, so you buy more until you've spent all your winning money on losing tickets.

Incorrect, you're likely to win back less than 10%.

And it's basically a way of donating both to the state budget and to someone who gets to live for real what the ticket lets you daydream about with unreasonable seriousness for a few hours. It's entertaining!

Turtle Sandbox
Dec 31, 2007

by Fluffdaddy

boom boom boom posted:

Dude was already rich, he should've known better. He was just a crazy moron.

Holy lol.

VendaGoat
Nov 1, 2005

Accretionist posted:

Incorrect, you're likely to win back less than 10%.

And it's basically a way of donating both to the state budget and to someone who gets to live for real what the ticket lets you daydream about with unreasonable seriousness for a few hours. It's entertaining!

And that's honestly all Gambling is. If you even, for a moment, attempt to rationalize any casino game, any lottery as anything else beyond entertainment, for a very short time, you're falling into a trap.

These games are designed, by their very nature, to take a portion of your money. The longer you play, the less money you will have.

"But VendaGoat, what about the people whom win?" I'm glad you asked that dear forums Hive Mind.

Small sample size.

Necc0
Jun 30, 2005

by exmarx
Broken Cake

Accretionist posted:

Oh, underlying the sense of impending doom would be a great deal of zest and moxie, I assure you.

Edit:


This is how you get Whittaker-ed.

Don't be like Jack Whittaker:

Surprise. If you live in a backwards shittown people are going to act like backwards shitlords. He should have moved to a real city where no one would have cared.

Accretionist
Nov 7, 2012
I BELIEVE IN STUPID CONSPIRACY THEORIES

VendaGoat posted:

Small sample size.

And where do you think the $1.3b came from?

Edit:

Necc0 posted:

Surprise. If you live in a backwards shittown people are going to act like backwards shitlords. He should have moved to a real city where no one would have cared.

Yeah, if I won, I'd've moved to Manhattan where you can be rich as balls and the only thing that matters is you don't stop in the middle of hte loving sidewalk

praxis
Aug 1, 2003

czarmonger posted:

How many people in this thread actually believe there is even the slightest possibility of winning big on these racket?

It seriously takes very little brain power and knowledge to understand how truly wasteful it is to gamble with such odds.


I hope a lot of people share a view similar to mine. Of course it would be great to win but you're really just spending $2 for the ability to imagine what you would do with that much money. It's an entertainment expense (with an infinitesimal chance at return) not an investment strategy.

Edit: Yeah, what Accretionist said.

Topographic Nap
Apr 22, 2007

I actually believe deep in my heart that I am going to win and use the money to make sure Trump takes the White House

Necc0
Jun 30, 2005

by exmarx
Broken Cake
Also, at least in my state, 50% of the money goes to education and they can probably use it.

Gibberish
Sep 17, 2002

by R. Guyovich

Necc0 posted:

Also, at least in my state, 50% of the money goes to education and they can probably use it.

check this out bud

https://www.youtube.com/watch?v=9PK-netuhHA

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Turtle Sandbox
Dec 31, 2007

by Fluffdaddy

praxis posted:

I hope a lot of people share a view similar to mine. Of course it would be great to win but you're really just spending $2 for the ability to imagine what you would do with that much money. It's an entertainment expense (with an infinitesimal chance at return) not an investment strategy.

Edit: Yeah, what Accretionist said.

I just imagined what I would do with the money and I still have 2 dollars to do with what I please, checkmate atheists.

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