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Old 01-19-2021, 09:39 PM   #21
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First of all I would not tell anyone. I would have the lawyer set up about 4 or 5 levels of corps so i could keep my phone number. Then 1 day before the time limit (1 year?) expires one of the Corps would turn in the ticket. I would have a sleazy lawyer like Saul Goodman be the face of the winner corp. Then i would have lunch with Bill gates & Warren Buffet. Not to get investing ideas but just to hang with them. Probably ask about the mechanics of gifting it all away. Our boy knows about how much is coming his way. So not much more to him. Maybe just give the bulk of it to the Bill & Melinda gates foundation in the name of my late wife

*Am I too late to buy a ticket? I won $28 on Christmas scratch offs
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Old 01-19-2021, 09:46 PM   #22
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First of all I would not tell anyone. I would have the lawyer set up about 4 or 5 levels of corps so i could keep my phone number. Then 1 day before the time limit (1 year?) expires one of the Corps would turn in the ticket. I would have a sleazy lawyer like Saul Goodman be the face of the winner corp. Then i would have lunch with Bill gates & Warren Buffet. Not to get investing ideas but just to hang with them. Probably ask about the mechanics of gifting it all away. Our boy knows about how much is coming his way. So not much more to him. Maybe just give the bulk of it to the Bill & Melinda gates foundation in the name of my late wife

*Am I too late to buy a ticket? I won $28 on Christmas scratch offs
I don't want to burst your bubble but that's not going to be enough money to lunch with WB and Gates.. I'd definitely do lunch with you though...I can offer you some excellent investment opportunities.

I love the idea to honor your wife's memory..
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Old 01-19-2021, 09:52 PM   #23
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I would go to the State lottery office at the earliest time I could get there. No waiting until I speak to a dozen lawyers and accountants. No reason for all that. I'd just collect the money as soon as possible. I'm perfectly able to say no to people begging for money. I don't see a point in playing games.
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Old 01-19-2021, 10:42 PM   #24
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One our our friends loves buying Powerball tix. Once in a while, when the pot is large, she cajoles us into joining her.

When checking the numbers, I say to my DW: "So, shall I see if our lives have been ruined?"

The other thing I think/say is that I am certain that hitting a huge lotto would probably ruin my life, but it is a chance I am willing to take!
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Old 01-19-2021, 10:43 PM   #25
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I would go to the State lottery office at the earliest time I could get there. No waiting until I speak to a dozen lawyers and accountants. No reason for all that. I'd just collect the money as soon as possible. I'm perfectly able to say no to people begging for money. I don't see a point in playing games.
The anonymity isnít to protect you from beggars, itís to protect you from thieves, kidnappers and frivolous lawsuits. The tale of Jack Whittaker is the best example. He won, what was at the time, the largest jackpot in US history. He was robbed multiple times, sued hundreds of times, his house burned down, and acquaintances were arrested plotting to drug and kidnap him.

He isnít the only one. These stories happen all the time. Lottery winners are targets. You could come up with a bunch of ways to protect yourself from these threats, but the easiest method is to simply not be a target.
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Old 01-19-2021, 10:50 PM   #26
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The anonymity isnít to protect you from beggars, itís to protect you from thieves, kidnappers and frivolous lawsuits.
That would be my concern. You could win one of the smaller amounts, say a cash value of $1-10 million, and most likely people would leave you alone except for a few wanting to invest it for you. Beyond that, it becomes an issue with privacy and safety.
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Old 01-19-2021, 11:07 PM   #27
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No Problem.

Half a billion, buy gated mansion for 50 million, armed guards, limo, chefs and maids.
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Old 01-20-2021, 12:03 AM   #28
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I am a firm believer that you don't buy the ticket to win (yes, I know technically you can). You buy the ticket for the 30 minutes or so of day dreaming about what you would do with the $ if you had it - give it to charity, never fly commercial again are two of my biggies!

To me, that's worth the $2 (or whatever they cost).
Why can't you just plan to buy the ticket when you go grocery shopping the next day, spend 30 minutes day dreaming about what you would do with the money if you win and then opt out of buying the ticket and putting the money where it has better odds of actually growing, like say, your brokerage account?

Seems like a win to me. Lotteries have worse odds than most casinos. They only pay back less than half the amount bet and you don't have to waste the money on a ticket to dream about what you would do if you won.
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Old 01-20-2021, 12:18 AM   #29
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Why can't you just plan to buy the ticket when you go grocery shopping the next day, spend 30 minutes day dreaming about what you would do with the money if you win and then opt out of buying the ticket and putting the money where it has better odds of actually growing, like say, your brokerage account?

Seems like a win to me. Lotteries have worse odds than most casinos. They only pay back less than half the amount bet and you don't have to waste the money on a ticket to dream about what you would do if you won.
But if you buy the ticket 2 days in advance, you get to day dream for 2 days!

Even when a person loses, they can massage their conscience knowing that a large part of the cost goes to fund some "good" thing like schools, or charities. Compared to a casino that funds the owner's pocket.

If the $2->$100 I might spend in a year on lotteries was needed to be invested to live, I shouldn't be on this site.
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Old 01-20-2021, 01:04 AM   #30
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I don't want to burst your bubble but that's not going to be enough money to lunch with WB and Gates.. I'd definitely do lunch with you though...I can offer you some excellent investment opportunities.

I love the idea to honor your wife's memory..
Incorrect. Warren Buffet auctions off a lunch with himself every year. In 2019 the winning bid was 4.5 million. Scrapr would be able to afford it if he won.
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Old 01-20-2021, 04:16 AM   #31
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Old 01-20-2021, 05:35 AM   #32
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If I won I would not make my name public as the winner, take the lump sum payout .
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Old 01-20-2021, 06:31 AM   #33
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No Problem.

Half a billion, buy gated mansion for 50 million, armed guards, limo, chefs and maids.
Plus your Blow your dough list would multiply.
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Old 01-20-2021, 06:33 AM   #34
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But if you buy the ticket 2 days in advance, you get to day dream for 2 days!

Even when a person loses, they can massage their conscience knowing that a large part of the cost goes to fund some "good" thing like schools, or charities. Compared to a casino that funds the owner's pocket.

If the $2->$100 I might spend in a year on lotteries was needed to be invested to live, I shouldn't be on this site.
That's how we feel.
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Old 01-20-2021, 06:46 AM   #35
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But if you buy the ticket 2 days in advance, you get to day dream for 2 days!

My gambling budget is small ~$10/yr but when I buy a ticket I wait weeks to check it and extend the day dreaming. FL Lottery doubled their cost to $2 for a basic ticket and $2 is expensive day-dreaming. I did buy a Mega Millions for the 8th that I still haven't checked. I know I didn't win the big one from the news but still can daydream that I was one number off and have a few $ coming my way till I check it.


For a huge jackpot I'd keep mum and form a trust or corp to claim the big ticket. Help out some people I know anonymously and pretty much enjoy what I enjoy now, just more of it. I'd also stop suffering OMY syndrome!
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Old 01-20-2021, 07:08 AM   #36
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Yeah, we'd live better, donate more, etc...

But the fun thing I would do is buy a larger house and build a dedicated rehearsal space for my bands full of high end equipment. No one would have to schlep gear back and forth to rehearsal because it would have duplicates of their personal gear. Every time we had a gig we'd just show up and play because someone else would haul gear and set everything up.
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Old 01-20-2021, 07:39 AM   #37
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Iím in the ď$2 worth of mental math and daydreamsĒ camp.

A few years ago I saw an article that suggested to write a list of the first ten things you would buy if you won the big lottery. Then list the next ten things. For me, #8 on the list was some new wool socks.

I didnít win the big lottery but I bought myself some new wool socks.
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Old 01-20-2021, 08:49 AM   #38
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My gambling budget is small ~$10/yr but when I buy a ticket I wait weeks to check it and extend the day dreaming. FL Lottery doubled their cost to $2 for a basic ticket and $2 is expensive day-dreaming. I did buy a Mega Millions for the 8th that I still haven't checked. I know I didn't win the big one from the news but still can daydream that I was one number off and have a few $ coming my way till I check it.


For a huge jackpot I'd keep mum and form a trust or corp to claim the big ticket. Help out some people I know anonymously and pretty much enjoy what I enjoy now, just more of it. I'd also stop suffering OMY syndrome!
Me too.
SchrŲdinger's lottery ticket. It's both a winner and a loser until I check it.
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Old 01-20-2021, 09:35 AM   #39
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Incorrect. Warren Buffet auctions off a lunch with himself every year. In 2019 the winning bid was 4.5 million. Scrapr would be able to afford it if he won.
Now to get bill gates on board at the same lunch....
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Old 01-20-2021, 09:37 AM   #40
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Hmmm, buy a ranch in the mountains with a ranch foreman to manage it. Gotta have good hunting and be cool in the summers. Then a Caribbean villa with great diving right in front, with a caretaker and housekeeper/cook, probably Bonaire. Then a couple more places in other countries to live incognito. Have cash, gold and silver in a safe for harsh times at each place. Sign up with a private jet company to fly anywhere anytime. Spend a month or 2 in high end rentals in Hawaii, Australia, New Zealand, Switzerland, and a few other places. Upgrade our house to a few acres in an exclusive area near the kids. Set up a foundation to give away scholarships at my disgression, managed by people I set up. For the kids give them each a credit card with a yearly $20k limit or so. Take them, especially the grandkids, on trips whenever they can get away. Basically I would try to minimize my exposure to outsiders. Now what to do with the other 200+ million? There's always next year....
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