Christmas Eve Jackpot: A Powerball player in Arkansas won a whopping $1.817bn

[Odusko]

If I were the winner, I would definitely take the entire prize money as it's quite risky to take an annuity payment over 29 years, despite a written agreement between the two parties.

What?

What do you mean, risky?

Taking a percentage profit over 29 years without doing a dime's worth of work is more than what most people can dream of. And you get twice the money if you just wait.

Besides, most people who choose to take the lump sum end up going bankrupt because they have bad money management, have compulsive spending issues, and eventually falling back to poverty.

Agreed with NotATether Said having a Lum sum can eventually end in crisis besides he is already a gambler who definitely will end up spending the whole or half of the money on chasing the next lump sum jackpot like this one,  money management is quite difficult for most people most especially gambler's they tend to have bad spending behavior aside from their spending on gambling. Easy come easy go for them always and running around the cycle, ending up in poverty and bankruptcy, percentage payment at least allow the winner to think how to manage the money all through the 29 year's that is spending way above most salary of civil servant for doing nothing, definitely he will learn a few financial lessons along the way.

[Peanutswar]

~
Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

Its all about the current situation so why not take all of those winnings and make yourself live the dream and enjoy the life right now imagine that large amount could change your life and even with the next generation of yours, for the consecutive years you dont know what will happen of course and if there's a changes on the management do you think it has a chance they will still continue that by generation of course not. The most convenient right there is to have that bunch of wins and start a new life.

[letteredhub]

An unidentified individual has won the second-largest lottery prize ever claimed (the first was $2.04bn jackpot won in 2022). The winner bought lottery tickets for $2 each, and the odds of winning the jackpot are 1 in 292.2 million.

The winner has the option of taking a lump-sum cash payment of $834.9m or getting the full amount that was won in an annuity paid over 29 years.

Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

https://www.bbc.com/news/articles/cwyw4x39jdwo

I will go with the option of receiving the payment in small amount for 29 years if there is a guarantee that I will be paid irrespective of what happen to the company. I will not lose over $932m which is collecting less than the total I won. If I chose smaller annual payments for 29 years, that will be over $62.65m per year which is enough for me. People are truly lucky to win this type of money that will change their life forever.

Yeah, just like you I think it makes much sense going for the option of receiving the payment of small amount for 29 years since the amount for each year is quite enough to take care of ones needs and more. However, from the article as I read, most persons that have being this extremely lucky to win the jackpot have always opt for the lumpsum payment instead. And I seems to try to understand why, and hypothetically, it could be that it's usually aged people that have being winning the lottery, and with the age left ahead they just not confident that 29 years for them would be feasible and therefore they just want a lumpsum. Afterall, they didn't work their ass so hard for it.

[bitbollo]

I will get now the money and thats all. would you still waste time to think about a couple of millions dollar after you few hundreds of it?
Even if this is an huge amount of money, this could be just negligible... at the end this could not change anything in real life... and for sure there are thing much more important then "be rich". After you are rich, I don't see any sense to want more money

[Maus0728]

That much lump sum for that almost 2 billion dollar win? I think that I would rather go for the annuity then instead of that bullshit lump sum. It really sucks win you win something for fair and it involves the government, it really is a stupid thing that they are taking a billion and more in taxes just because some person bought lottery ticket that is essentially a money machine for the government anyway. Now for the other reason why I would choose annuity instead of a lump sum is because I do believe that it would be for the better to be a billionaire for 29 years instead of a billionaire for maybe 2 or 3 years, what I mean is that having the annuity is a good thing to make me disciplined in spending that life changing money and at the same time not make me a target of opportunist that do not have my best interests in mind. Most people that win the lottery and then lose their money fast is because they all chose lump sum.

[qwertyup23]

<..snip..>
Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

https://www.bbc.com/news/articles/cwyw4x39jdwo

If this were to happen to me, I would definitely choose to receive my payments in small amounts for 29 years.

This question heavily depends on the age of a person claiming the reward. If that person is relatively young in which he can live the whole 29 years of his life, then choosing the small amount of deposits would be advantageous. On the other hand, if the person claiming the reward is already old and of age, then obviously the lump sump of one (1) payment would be beneficial.

At the end of the day, it really depends on the age of the person claiming if they can live for the next 29 years in order to receive the full award. Also, choosing the option of small deposits can limit your expenses that also keeps you grounded and avoid over expenditure on your part.

[Don Pedro Dinero]

If this were to happen to me, I would definitely choose to receive my payments in small amounts for 29 years.

This question heavily depends on the age of a person claiming the reward. If that person is relatively young in which he can live the whole 29 years of his life, then choosing the small amount of deposits would be advantageous. On the other hand, if the person claiming the reward is already old and of age, then obviously the lump sump of one (1) payment would be beneficial.

At the end of the day, it really depends on the age of the person claiming if they can live for the next 29 years in order to receive the full award. Also, choosing the option of small deposits can limit your expenses that also keeps you grounded and avoid over expenditure on your part.

But that depends. I imagine that if you have heirs, your heirs will be able to inherit the payments. We would have to look at the specific rules for this case. I'm not quite sure what I would do with such options to choose from, but I think I would opt for the payments as well. Even the annual payment is such a large amount that I don't know what I would do with it.

[Fivestar4everMVP]

An unidentified individual has won the second-largest lottery prize ever claimed (the first was $2.04bn jackpot won in 2022). The winner bought lottery tickets for $2 each, and the odds of winning the jackpot are 1 in 292.2 million.

The winner has the option of taking a lump-sum cash payment of $834.9m or getting the full amount that was won in an annuity paid over 29 years.

Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

Man, this win is absolutely crazy, it's some moments ago I woke from my quick nap, took my phone to check what the time was and then I saw a notification from one of the browsers I use of this mega win, I opened and read it and was amazed, there is so much money in this world but the problem is how to go about making the money.

Over $1b dollar in winning is absolutely crazy, and what can I say?, if offered the choice of a lumbsum of over $800m in one payment or get paid in full over the cause of 29 years, I will accept to take the lumpsum, $800m dollar is more than enough for me and my family to live on for the rest of our lives, I did invest most part of this money and make another billions.

[ozgr]

I would choose to take the $834 million as a lump sum.
There is such a thing as dollar inflation, and no one knows what the global economy will look like over the next 29 years.
I also find it absurd that a lottery prize can be this large for a single person.
With that much money, most people wouldn’t even know what to do with it.

[Mpamaegbu]

~

Why do you think it's a public stunt? The news was published by the BBC, and Powerball is well-known in the US.

That an outlet is popular doesn't mean it can't be bought over or pull a stunt. In fact, that level of trust is even what makes any stunt pulled by such trusted medium/media believable. Before something goes on air, there's that behind the scene editing. As someone who has an idea of the media, I write from that point of view. I ain't saying categorically that BBC reporting it is false, I'm saying "I believe it's a stunt" and I don't think there's anything wrong in that.

Besides, remember that even till date, Donald Trump calls some of these mainstream media houses fake news. I'm not saying they actually are fake but I'm tilted towards the popular saying – the only thing that's certain in life is uncertainty.

[Obim34]

Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

https://www.bbc.com/news/articles/cwyw4x39jdwo

Thinking about annuity, how possible is it that the gambling company will last up to 29 years, gotta balance so much in the reasoning.

I might consider taking lump sum, with how inflating the economy is getting, $834.9m won't be valued the same every year and in ten years from now.

I will be able to control such huge amount, businesses and investments, assets, and store of value, are all options on where to diversify. I'm certain that nothing intrigues me to spend more to earn more after such one in a rare cashout.

[memehunter]

the odds of winning the jackpot are 1 in 292.2 million.

I have an interesting observation regarding this (may be this is already expressed).
So he/she bought a $2 ticket right? That means with 1 in 292.2 million odds, he/she should get 292.2*$2 = $584.4 million (I am assuming house edge is 0%).
The lottery winner won $1.817 bn (1817 million) that means he/she got 3.1 times more positive expected value. (I might be wrong and please correct me this calculation is wrong).
Regarding one time payment or gradual cashout, does not matter, chose either, it is a lot of money to live life to its glory with your loved ones.    

[CryptSafe]

If I were the winner, I would definitely take the entire prize money as it's quite risky to take an annuity payment over 29 years, despite a written agreement between the two parties.

What?

What do you mean, risky?

Taking a percentage profit over 29 years without doing a dime's worth of work is more than what most people can dream of. And you get twice the money if you just wait.

Besides, most people who choose to take the lump sum end up going bankrupt because they have bad money management, have compulsive spending issues, and eventually falling back to poverty.

It is more like stay at home and take your pay kind of things, coupled with the fact that the annual pay seems reasonable to go with. This is a yearly salary assurance that one gets, and it would sustain them if wisely used, and that would give any reasonable person reason to plan ahead in what to do with the pay whenever they are near receiving it.

Sometimes, overexcitement of such a win makes them take the wrong decision, and also, the fact that they have never handled such a magnitude of money before would make them think narrowly and thereby make silly mistakes they ought not to. Patience is always the key to a resounding conclusion, and if carefully thought through, would give one a good direction to make a sound decision.

[Akbarkoe]

And again I see there are people who are lucky in the lottery, why haven't I? LOL I'm going to cash in now and hit my friend on the head and say, hey I'm successful now.

We don't know the truth about this very big win, whether it was just advertising or manipulation carried out by the bookies to introduce their lottery and increase bettors in this modern era or whether it was true that it was a real win, the winner whose face was covered is very suspicious of things about the truth even though I understand the purpose is very good for the safety of the winner.

Never mind, don't be too motivated to gamble on the lottery as usually the chances are small and you don't have high hopes of winning it, it takes a lot of time from the previous big win in the lottery.

It makes very much sense that you are suspicious about how the lottery winners seem to be transparent because it is hard to draw the line between the chance and the marketing tactics. Crypting identities, in fact, casts doubts on the genuineness of such big business transactions in the midst of the very competitive gambling environment. We should not forget about our common sense that the chances of winning are low, and, therefore, there is no sense that we should overestimate our expectations. This is what makes us not get in the trap of misleading illusions so skillfully by service providers.

It's very difficult to verify and that's what I'm saying that it's very suspicious that this is just a short drama for an advertisement, the media may also be paid to show dramas like this, or do I think too much that it's fake?
We are really blind to this kind of thing, we can't say it's fake and also don't verify that it's a real prize paid to random bettors out there who are lucky, hopefully we can stay sane, friend.

[coin-investor]

Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

I have a good plan for the money if I ever win the lottery, so I will get the full amount and have complete control over it. If they keep the money, it won't earn interest, so I prefer to put it in a bank and get a portion of the interest. I will diversify by buying stocks and cryptocurrency.
Another good plan is to buy land in a city and build an apartment so that I will have a stable income. If we are going to bet in a lottery, we must have a plan for our winnings because we never know if we are the next big winner.

[CryptoHeadlineNews]

The winner has the option of taking a lump-sum cash payment of $834.9m or getting the full amount that was won in an annuity paid over 29 years.

Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

https://www.bbc.com/news/articles/cwyw4x39jdwo

$834.9m is actually such a huge sum of money to be given once by a casino to invest and start a huge business with you, but also letting go $1billion is actually a more huge sum to let go, instead of accepting a spray of 29years. Because imagine even if I'm been paid $10,000 daily for the next 29years (i.e 29 X 365 = 10,585 days). So imagine if I'm been paid $100,000 daily for the next 29years, that will sum up to a total of $1,058,500,000, which is still quite lesser than the $1,817,000,000 that was said to have been won. Unless if only I'm been paid $170,000 daily for the next 29years, that's only wh the casino will be able to pay off that amount. Hence, if I was in his shoe, I will accept to be paid for the next 29yrs, rather than accepting a long sum once.

[shasan]

An unidentified individual has won the second-largest lottery prize ever claimed (the first was $2.04bn jackpot won in 2022). The winner bought lottery tickets for $2 each, and the odds of winning the jackpot are 1 in 292.2 million.

The winner has the option of taking a lump-sum cash payment of $834.9m or getting the full amount that was won in an annuity paid over 29 years.

Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

https://www.bbc.com/news/articles/cwyw4x39jdwo

If that were me, then I would take the lump sum amount because there was no guarantee that I would be able to receive the weekly/monthly/yearly payment of 29 years and along with that If I leave the world, then there might be no way to get the payment by my inheritent. And at the same way if I purchase land/coin/gold then the amount might be more than I will receive in 29 years.

[Agbamoni]

Would you take the lump sum or choose to receive your payments in small amounts for 29 years?

https://www.bbc.com/news/articles/cwyw4x39jdwo

Money loses its purchasing power over time. What $1.817bn will afford for you now, will be less in the future.

I will definitely choose the lump sum, because there is no guarantee that the money will be paid in full over the years as agreed.

[shasan]

Money loses its purchasing power over time. What $1.817bn will afford for you now, will be less in the future.

I will definitely choose the lump sum, because there is no guarantee that the money will be paid in full over the years as agreed.

Even if there is a gurrantee that I will receive the said amount still I will receive the lum sump amount as if I reinvest those amount in any good field the earning amount or the increased amount of the lum sum amount will be more than the said amount so there is no reason to take the lum sump amount.