The US Powerball jackpot reaches $1.3 Billion dollars

[universal4]

Almost all lotteries around the world work pretty close to the same way.

If a person chooses the long term payout, they usually buy an annuity for the winner, which makes the payments, and they keep the big money.

I am not sure however of some states/countries self-manage the annuity and just use the funds in their own market account.

Rick
Universal4

[sweetbet]

The good news about Australian lottery is that it is not taxed, but choosing to receive a lump sum payment would mean a significantly smaller win, unless you choose to receive it over 30 years. 30 years? I want it NOW

[Casinorep]

Well if you're trying to buy some powerball tickets sucks on you! We just have a winner for the $1.5b jackpot.

[rakebackbz]

The jackpot is now up to $1.5 billion, in large part thanks to idiots like me. I e-mailed the players in my home poker game asking if everyone wanted to pool $5 each for tickets. Their response? Let's go for $20! Now I have to go buy $180 worth of tickets and make sure they all remember to pay me back ...

Lmao, you're probably getting freerolled.

[GPWA Aaron]

Lmao, you're probably getting freerolled.

These are guys I've played with for a decade, and we've done this 2-3 times previously. I'm pretty sure they're all going to pay up.

For the record, we managed to "win" $20 on our $180 investment.

[sweetbet]

I purchased 1/680 share of 1,000 lines. We won $143.07 and my share is $0.21 LOL