The jackpot is always overstated by roughly double it's true value. It's $177 million less taxes if you take it now.
If you allow them to keep it and invest it and pay you an annual amount like a mortgage, then the total payments over 30 years add up to $365 million.
I think it's false advertising.
I wonder how many people would play if they knew there odds were less than 1:150 million of winning a jackpot that was probably worth $90 million after taxes instead of $365 million.
Uuhh... I did and I do. What's a few $$ here and there? I've spent a lot more on other frivolous activities. Say, "gentlemen's clubs" when I was younger?
The jackpot is always overstated by roughly double it's true value. It's $177 million less taxes if you take it now.
"If you allow them to keep it and invest it and pay you an annual amount like a mortgage, then the total payments over 30 years add up to $365 million.
I think it's false advertising.
I wonder how many people would play if they knew there odds were less than 1:150 million of winning a jackpot that was probably worth $90 million after taxes instead of $365 million"
You still have to pay taxes on the $12M you receive annually. I read that the taxes would be 27% for federal plus state taxes; but for the sake of argument you could take the $90M and invest it and after 30 years you would have much more than $365M.