$365 million Powerball winner from...

Phlegm · Post by **Phlegm** » Sun Feb 19, 2006 7:33 pm

Lincoln, Nebraska. From Associated Press:

LINCOLN, Nebraska (AP) -- Someone, somewhere held the only winning ticket for the record $365 million Powerball jackpot, but likely wasn't in a rush to come forward, Nebraska lottery officials said Sunday.

The only ticket matching the winning numbers drawn Saturday night for the multistate lottery was sold at a U-Stop convenience store in Lincoln, Nebraska Lottery spokesman Brian Rockey said.

It was the biggest jackpot on record for any lottery in the United States.

No one had come forward to claim the jackpot Sunday, Rockey said.

"We don't know if the winner knows yet," he said.

Even when the lucky individual or group realizes it, they might not leap into the public eye.

"We have found ... that they tend to wait until they have sought legal counsel or financial counsel," Jim Haynes, acting director of the Nebraska Lottery, said of large jackpot winners.

Whoever it is, U-Stop store clerk Stacey Carey has a message for them.

"If I sold the ticket to 'em I hope they'd share in the winnings -- at least, even one-tenth of a percent would suit me just fine," Carey told AP Radio in a telephone interview.

Rockey said lottery officials planned to go to the store Sunday to verify the sale, which would entitle the store owner to a $50,000 bonus.

The store was swarmed with reporters and customers Sunday, said owner Mick Mandl.

"Everybody wants to talk to us," he said. "They're excited."

The winning numbers drawn Saturday were 15, 17, 43, 44 and 48, with a Powerball number of 29, according to the Multi-State Lottery Association of Des Moines, Iowa, which runs the game for the participating states.

The ticket holder has the option of taking the money in one lump sum or installments over 30 years. The cash option is $177.3 million, or $124.1 million after taxes. On the installment plan, the first payment would be $6,507,986 after taxes.

The previous U.S. lottery jackpot record was $363 million for the Big Game, the forerunner of Mega Millions. That was won by two ticket holders in Illinois and Michigan in 2000. Powerball's previous record jackpot, $340 million, was won by an Oregon family in October.

Powerball is played in 28 states, the District of Columbia and the U.S. Virgin Islands.

brinstar · Post by **brinstar** » Sun Feb 19, 2006 9:28 pm

ummm brb to check my numbers :eyecrazy:

Aatrex · Post by **Aatrex** » Sun Feb 19, 2006 11:07 pm

I like how the dirtneck that sold the numbers is trying to graft.

Adivina · Post by **Adivina** » Mon Feb 20, 2006 9:21 am

The store that sold the numbers is generally entitled to money from the lottery as well.

Any way, does getting the money over a course of years work out so you get more money than taking it right away?

Aatrex · Post by **Aatrex** » Mon Feb 20, 2006 9:23 am

Yes, spread out you get lots more I'm pretty sure. You also have the benefit of planning out some tax strategy in the years to come so you don't lose it all to Uncle Sam.

The Kizzy · Post by **The Kizzy** » Mon Feb 20, 2006 9:28 am

I thought they gave yu the installment checks after taxes, meaning they took the taxes out first that way you don't have to pay anymore.

I also don't understand why they cut the lump sum in half, that's just stupid. Makes no sense. Although, you could very nicely live off of the interest you earned on $170Million for the rest of your life. After I play wieh a few million that is what I would do.

Post by **DangerPaul** » Mon Feb 20, 2006 10:02 am

gogo me~ I am now retiring and the NT party will be planned soon.

Post by **Martrae** » Mon Feb 20, 2006 10:09 am

The lump sum is less because they count on having that money gain interest for 20 years to make up the total pot. If you can invest your money wisely you can make more than the pot in 20 years time.

For that amount of money, you can expect to pay around half in taxes (state, local and federal) pretty much no matter what you do. Taxes are generally the responsibility of the winner so I doubt they take any money out before you get your check....you'd have to check the lottery rules for that though.

If you are playing the lottery as an office pool be aware that generally you can't submit a winning ticket with more than one name on it unless married. So either form an actual lottery corporation to deal with the taxes or one person has to pay ALL the taxes no matter how many people divy up the pot.

Tacks · Post by **Tacks** » Mon Feb 20, 2006 10:11 am

At least in PA they allow multiple winners to file under a joint winners claim so they all pay out equally. I know this because when I was grocery manager in high school 6 people from my work won a 30 million lottery.

Post by **Martrae** » Mon Feb 20, 2006 10:13 am

Like I said....generally....you need to check the lottery rules.

leah · Post by **leah** » Mon Feb 20, 2006 10:51 am

that gas station is right near where josh lives~

Zanchief · Post by **Zanchief** » Mon Feb 20, 2006 11:14 am

We don't tax lottery winnings in Canada. Suck it!

Dylan · Post by **Dylan** » Mon Feb 20, 2006 11:22 am

Too bad your million dollar lotteries turn out to be 15 cents american

The Kizzy · Post by **The Kizzy** » Mon Feb 20, 2006 11:28 am

Oh burn!!

Tikker · Post by **Tikker** » Mon Feb 20, 2006 11:50 am

yes, bad math is a great burn

Darcler · Post by **Darcler** » Mon Feb 20, 2006 11:52 am

Bad, but very funny math <3

Phlegm · Post by **Phlegm** » Mon Feb 20, 2006 1:11 pm

The lump sum amount you get is the amount of money that the lottery office stuck in an annuity account. In California, the lottery office will withhold the federal taxes. There is no lottery winning tax for California.

Jay · Post by **Jay** » Tue Feb 21, 2006 1:16 pm

The Kizzy wrote:I thought they gave yu the installment checks after taxes, meaning they took the taxes out first that way you don't have to pay anymore.

I also don't understand why they cut the lump sum in half, that's just stupid. Makes no sense. Although, you could very nicely live off of the interest you earned on $170Million for the rest of your life. After I play wieh a few million that is what I would do.

MC Hammer made well over 100 million in a couple years time and went bankrupt.

Dylan · Post by **Dylan** » Tue Feb 21, 2006 1:22 pm

Parachute pants are expensive.

leah · Post by **leah** » Tue Feb 21, 2006 1:23 pm

man i wish i could have just 1 million dollars.

or, y'know, 1 thousand... or 1 hundred....

Zanchief · Post by **Zanchief** » Tue Feb 21, 2006 1:23 pm

So is coke.

Jay · Post by **Jay** » Tue Feb 21, 2006 1:39 pm

Statistically, most lottery winners don't live wealthy for long. They acquire high expenses and get billed back to mediocrity. Then again, most lottery winners didn't make 170-365 mil. Money management is more valuable than the money itself in many cases.

Darcler · Post by **Darcler** » Tue Feb 21, 2006 2:01 pm

I was watching a show about Overnight Millionaires, lotto winners and such.
There was one guy who bought TONS of shit, truely pure garbage. He had custom tables from somewhere and he had no idea what the stone on top was or something. He had all these statues all over the place. He also had a crappy fake tan. He had 4+ cars, a couple were there for show.
He = the unfamous MC Hammer. He is totally going broke.

Ouchyfish · Post by **Ouchyfish** » Tue Feb 21, 2006 2:15 pm

Tacks wrote:I know this because when I was grocery manager in high school 6 people from my work won a 30 million lottery.

That would irk the hell out of me. Hopefully it isn't one of them "I was offered but declined to join in" cases though.

Tikker · Post by **Tikker** » Tue Feb 21, 2006 2:17 pm

yeah, that would suck