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

[TopTort777]

Now based on recent topic we had, where dude hid his identity with mask, do you think a guy has won 1.8 billions bucks would also hide his identity? I am sure that he wont, and we will soon know his identity, when he will start spending his fortune. Even if this dude takes his winning by part over 29 years, he would still can be noticed when he will be on spending spree 5 millions per month, ffs that is a lot

[Lida93]

As far as there will be a guarantee that the company will not fold before the time at which they will pay me all the money, I will prefer to take it little by little till the agreed time, because winning that kind of money when you don't expect it and getting the money all at once will be tempting. It's better I receive it small and know what to do with it.

When we gambling for the jackpot in lottery we should also have plan in place for what we can use the funds to do should we be lucky to win someday. Doing it that way shows we have hopes that we can be lucky and peradventure it happens you already have something on ground with what to do with the money won. Under the circumstance of taking a lump sum or receiving the payment in piece by piece. A lumpsum would be my choice perhaps to use execute my plans at a go.

[Fiatless]

By the way, it's also perfectly reasonable to consider that the likelihood of someone simply dying within the next 29 years is quite high. I saw a photo of a lucky guy, and he's definitely not young, so the odds are even higher for him. I wonder if if the lucky winner dies, are the lottery organizers obligated to pay out the money to the heirs? If not, it's an immoral scam targeting the simpletons.

Life is not guaranteed, so there should be a provision for the transfer of the wins to a next of kin.

Yes, you can pass down your Powerball winnings. Whether you take a jackpot in its lump sum form or in annuity form, you can dictate any remaining funds to transfer to someone else. And it’s a step you should look into taking before you even walk away with your Powerball jackpot.

https://www.powerball.ca/news/can-powerball-winnings-be-inherited

I got this info from one of Powerball's websites, and it shows that you would have to identify who your wins will move to in case of emergencies. Many people would decide to take the lump sum if such provisions did not exist.

[Harkorede]

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

What a fortune!

I would without second thought choose to receive the payments over the 29 years period, over 60 million per year is still generational wealth to say the least.

Now based on recent topic we had, where dude hid his identity with mask, do you think a guy has won 1.8 billions bucks would also hide his identity? I am sure that he wont, and we will soon know his identity, when he will start spending his fortune. Even if this dude takes his winning by part over 29 years, he would still can be noticed when he will be on spending spree 5 millions per month, ffs that is a lot

He didn't declare himself a winner, that'd be the job of the lottery board and for security reasons, winners of such an amount are often not declared public unless they have to.

[retreat]

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

With such low odds, it's an incredible win for him to achieve. He truly has the best luck of all gamblers. But with a win that size, I wouldn't consider accepting it all at once. Besides, it's riskier, more complicated for me to manage everything alone, and there's also a risk to my safety. At least if it's disbursed gradually, I can manage it more carefully. Moreover, it's tens of millions of dollars, which is still a large enough amount for me to invest and allocate to building several businesses that can provide me with cash flow.

[sokani]

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

If given the option to choose, I would like to receive the money at once. Yeah, you heard me right. I'm not a waster. So the money will surely be put to good use. I would use a large portion to buy Bitcoin. Invest part in real estate and other businesses, and leave a little portion in the bank.

[Cryptoprincess101]

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

29 years is almost close to the years a civil servant can spend in active service in my country so i will definitely buy the idea of receiving the payment for 29 years. Besides you can take a lump sum and use up that amount on a business or an investment that might fail before 29 years' time, so it is better the installment payments because even if i decide not to work for those 29 years, i am sure that i will receive payments annually. The only reason why i would have requested for a lump sum of that amount is because of inflation because that amount can buy a valuable asset and an investment that can yield good profits before 29 years. Investing in an assets like bitcoin would be a good idea because the amount will be in your custody and you can access it at any time unlike leaving it in the custody of a casino and they probably abscond with the money one day.

[Hispo]

Now based on recent topic we had, where dude hid his identity with mask, do you think a guy has won 1.8 billions bucks would also hide his identity? I am sure that he wont, and we will soon know his identity, when he will start spending his fortune. Even if this dude takes his winning by part over 29 years, he would still can be noticed when he will be on spending spree 5 millions per month, ffs that is a lot

If he is intelligent enough, he will choose to keep his identity hidden from anyone and keep a low profile for the huge amount of money he just scored. He would not win anything if he chose to allow the public to know about his name and address, that would only increase his chances of getting robbed or kidnapped exponentially.
Anyways... what away to end the year, by becoming a billionaire, I am not even sure if I would rather to take the immediate cash or receive all the money gradually, probably it would be wise to get it gradually, so one does not get broke suddenly by bad financial choices, as it has happened to several new rich who won the lottery but do not anything about wealth administration.

[stompix]

Inflation!
Let's take the mild one at 3%, the last sums which are the biggest will have a loss of close to 60%.

Since the payments are not equal, he will get around ~140 million in the last year, at 3% inflation, this is like getting $60 million now!
But getting $100 million now, on average stock return will be in 30 years $1.75 billion!

So he could effectively spend 75% of his money from the upfront payment and invest just a quarter in stocks and he will get more money from that than the entire rate payment! You don't want to hear the numbers for 6% inflation 

For real?  I didn't know this detail. It makes this deferred payment scheme look even more disgusting.
6% inflation will leave only 16% of the final payment, i.e. instead of 140 million he will receive 23, haha. But honestly, I don't believe that inflation will be lower than or equal to 6%, when the price of metals doubles in a year, when real estate starts being sold with 50-year mortgages, and in general everything is becoming more expensive in an illogical manner, then I don't believe it at all. So the only sensible option is to take your money immediately.

Yeah, it's a model from the 80s what can you expect from it
You can play with the model here:
https://www.omnicalculator.com/finance/powerball
Over some circumstances, depending on state tax it goes pretty wild both ways!

But for the inflation part, no, the US will not see 6% continuous inflation for 30 years and not even for a decade, and if that happens, we're all fucked, no matter where you live, unless you're that tribe on North Sentinel Island you're going to suffer.
As for real estate, here is the thing that differentiates us Europeans from the US, in the 80s they lived in an average 150 sqm house with 3.5 residents,now they live in a 250sqm with 2.5 on averge and the trend goes towards single-member houses ...there is no f way real estate prices could stay lower with such a change in behavious and with around 6 million poeple entering your country in 5 years legally and 10 million illegally.

[Cyber_warrior]

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 just request to receive my money at once. Don’t you think 29 years is just to much, if you will be receiving your money gradually for 29 years, then you taking huge risk also, what if anything happens and after some time they decide not to pay you again, who are you going to hold responsible for that?

Don’t you think it’s better you receive your money in full, then you can decide to do whatsoever you want with your money. You can invest any amount you want, you can get yourself anything you want, and you can start up a business for yourself also. Receiving the money gradually looks good, but don’t forget about the risk in it.

[nelson4lov]

Now based on recent topic we had, where dude hid his identity with mask, do you think a guy has won 1.8 billions bucks would also hide his identity? I am sure that he wont, and we will soon know his identity, when he will start spending his fortune. Even if this dude takes his winning by part over 29 years, he would still can be noticed when he will be on spending spree 5 millions per month, ffs that is a lot

Can't say I would blame him if he decides to go full incognito after winning that jackpot. I mean, I would, if it were mean. Such a situation can put a target on his back. Aa much as there'd be well wishers, there would also be people that would be thinking of how to take advantage of his situation because the general would be that he had enough to go round for everybody.

Best thing for him is to join start a new life afterwards.

[TopTort777]

Now based on recent topic we had, where dude hid his identity with mask, do you think a guy has won 1.8 billions bucks would also hide his identity? I am sure that he wont, and we will soon know his identity, when he will start spending his fortune. Even if this dude takes his winning by part over 29 years, he would still can be noticed when he will be on spending spree 5 millions per month, ffs that is a lot

If he is intelligent enough, he will choose to keep his identity hidden from anyone and keep a low profile for the huge amount of money he just scored. He would not win anything if he chose to allow the public to know about his name and address, that would only increase his chances of getting robbed or kidnapped exponentially.
Anyways... what away to end the year, by becoming a billionaire, I am not even sure if I would rather to take the immediate cash or receive all the money gradually, probably it would be wise to get it gradually, so one does not get broke suddenly by bad financial choices, as it has happened to several new rich who won the lottery but do not anything about wealth administration.

Here is that story: Masking to claim lottery winning... I dont know why casino or lottery representatives want to make this official and force people to come and lose identity. Some people take it like nothing, and picture with huge banner showing the amount they have won (and sometimes their full name on it), some cover face with mask. Either people are brave to show whole world, that a regular guy with zero extra security, now have millions on their bank account, or stupid. Some even give interviews and expose everything. Like that story about garbage man from UK who won millions and waster then in few years. He has mentioned his full name and city he lives in

[Sticky Bomb]

I would have to meet with my lawyers to ensure there is proper insurance on the funds being payed up even if the company folds up. I would also direct my attorneys to review their T&C to ensure this payment pattern is completely cited in their agreements and not a makeup after seeing I won very huge.

All things being verified, I would go for the 29 years pay, I'm not leaving my $1B for them because I'm in a hurry to take a lump sum home and it is kinda better to be paid annually, It adds more security to your funds and ensure you stay rich for a long time.

Good decision and that's why taking the lump sum is the best option. But you'll never know if they're still existing by that time you chose the annual pay.

Even if they make contracts that will guarantee you for that long, you'll never know what's going to come in the future.

But if the attorney's you've hired verifies that it's a good option, that will set you for 29 years and even longer when you wise up on how to spend the annual pay you'll receive.

Do you know how insurance works? If your money has insurance, then if the company folds, you would still get your money from the company that insured you. It is then the duty of the insuring company to ensure they track the company and maintain flow with them.

You may only need to forfeit some little part of the money as premium to the insurance company.

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

$834.9 millions annual is such a huge amount of earning for 29 years.

Are you a thief? , or you want to render the lottery company bankrupt?
its $834.9 million if you would take it at once and the $1.817B if you should spread it out for 29 years which is approximately $62.7 Million annually.