This Thursday Powerballs Jackpot Is 120m Do You Have a Ticket

Trying2SaveABuck on 22/02/2022 - 22:57
Last edited 22/02/2022 - 23:16

So it is that time of year again when the lotto thread of fools and dreamers (myself included) comes around - simple poll do you have a ticket?

If you have a ticket list the first 5 things you are going to do if you take the 120m jackpot all to yourself

who if anyone would you tell that you won?

My Answer are
Yes

1.quit my job (in a nice way)
2. Pay off my house
3. Buy a holiday house(s) as well as some other commercial properties
4. Help family financially
5. Buy a car that pre jackpot I could never afford ie an M4 or C63 etc

Wife only everyonenelse will just magically have a few million gifted to them ie parents siblings etc

Last of All good luck!!!

Poll Options

  • 301
    Yes i have a ticket(s)
  • 316
    No i dont have a ticket
  • 86
    Not yet but I'm getting one
General Discussion Lottery

Comments

    • [Deactivated] on 23/02/2022 - 21:57
      -2

      Accountant yes. Lawyer yes. But a financial adviser? No no no no

  • brandogs on 23/02/2022 - 00:20
    -4

    No chance just 1 person will win it. Will probably be split amongst 10-20 winners

    • AustriaBargain on 23/02/2022 - 01:31
      +10

      A measly six million dollars each.

      • Minimum chips on 24/02/2022 - 09:42

        Is that all? I can’t be bothered then.

    • John Kimble on 23/02/2022 - 08:14

      Powerball is usually only a few winning tickets…although one or more could be a syndicate of many people.

    • Grunntt on 23/02/2022 - 10:51
      +1

      From the Powerball info - "The chances of winning division one in Powerball, based on one standard game, are 1 in 134,490,400. "

      To me that would tend to indicate that there is a very small chance of winning Division 1 so therefore, if it does get won, it is very unlikely to be won multiple times.

      My disclaimer - No idea if this is true as I really don't understand the math needed for probability calculations.

      • brandogs on 23/02/2022 - 11:48
        +1

        I think you're forgetting this is for $120 Million. One third of the country will have a ticket. Plus most people don't just have a single entry, they will buy quick picks to get multiple chances.

        • GrueHunter on 24/02/2022 - 13:20

          So exactly like last week when it was $80m and didn't go off?

          • brandogs on 24/02/2022 - 13:31
            +1

            @GrueHunter: Exactly, it was $80m last week and I didn't know about it. But I know about this one. $100m+ jackpots these days tends to be the point where word of mouth/media/social media hypes it up.

            • GrueHunter on 26/02/2022 - 13:47

              @brandogs: So now that we know a whopping two people won and the laws of probability have once again demonstrated they don’t care about your feelings, would you care your revise your opinion?

  • morse on 23/02/2022 - 02:18
    +2

    Yes, plan to get one, just because you have to be in it to win it.

    Would only tell my husband.

    Wouldn’t quit my job straight away, but would have to think about what I do long term.
    Start planning how to spend and invest it.
    Have a really nice dinner/outing the first night after the win.
    Book some holidays (from now on I’d only travel business and first class and stay in fancy suites)
    Plan out some home Renos (might stay in the same place as we actually really like where we live).

    Whilst it would be nice to just live large, I’d also want to set myself up so that if ever became unwell, dementia, cancer, ageing etc I could avoid a nursing home and have private staff, therapists etc come to me to maintain quality of life as much as possible. This would require a pretty decent long term investment strategy.

    Wouldn’t tell any other family but would help them more without it being too obvious.

    • OzCheapo on 23/02/2022 - 03:24
      +16

      Probably wait a couple of weeks for the Melbourne or Sydney dining rebates to kick in first for that fancy dinner.

      • mskeggs on 23/02/2022 - 07:47
        +5

        Get the silver service taxi, you deserve it.

      • wayl on 23/02/2022 - 10:40
        +1

        @OzCheapo hahaha that would be the most OzB thing to do right?

    • saltypete on 23/02/2022 - 08:00
      +2

      Agree with the don’t tell anyone bit. Too many tales of jealousy and ruin there. I’d give wife and myself a bit of time to think before telling anyone……

    • Serapis on 25/02/2022 - 00:48

      Why wouldn't you tell your boyfriend?

      • morse on 25/02/2022 - 07:29
        +3

        He got his own ticket and agreed to only tell his wife.

  • popsiee on 23/02/2022 - 07:48

    Seriously the major channels run this shit as mainstream news .
    Do I have to get it here too ?

    BTW pro gamblers can't aim at it as if 2 or more tickets wins its below the odds. 1 person above hehe .
    Bad luck for the world largest gambler the Loch Ness Monster .

  • rektrading on 23/02/2022 - 07:59
    +1

    Jackpot Is 120m

    The bigger the jackpot, the more people have lost.

    It's a shameful way for states to raise revenue this way.

    • OzCheapo on 23/02/2022 - 09:42

      It's $120 million tax free. If (and big if) you won the jackpot you'd be in the same league as Malcolm Turnbull or Clive Palmer, depending on how their accountants run it.

      • rektrading on 23/02/2022 - 09:48
        +1

        The winnings being tax-free doesn't make it any less shameful.

        The state is praying on the desperately poor and working-class to raise revenue at a time when the cost of living is 🌀 out of control.

        • Morphio25 on 23/02/2022 - 17:44
          +1

          But why is it shameful though? It's just people buying a ticket and adding to the jackpot in hopes of getting rich. No different to you having a bet on your weekend (insert sports match here) apart from the fact you won't win $120 mil.

        • Kozhutki on 24/02/2022 - 11:31
          +1

          we have bigger issues with pokies

      • FareEvader on 24/02/2022 - 00:29
        +1

        Turnbull and Palmer are actually billionaires, so you're nowhere near the same league.

        • OzCheapo on 24/02/2022 - 14:45
          +1

          Not according to their accountants or the ATO

          • FareEvader on 24/02/2022 - 16:09
            +1

            @OzCheapo: LOL yes doubt they can answer what the price of a loaf of bread and a carton of milk costs

    • Ugly on 24/02/2022 - 12:44
      +1

      NSW Lotteries aren’t state-owned anymore.

  • skid on 23/02/2022 - 08:18
    +7

    Turn on infinite scrolling and buy every single deal on the front page just because I can.

  • battler on 23/02/2022 - 08:18

    waiting for the coupon code.
    (this is OzB after all…)

  • orangetrain on 23/02/2022 - 08:20
    +2

    I am surprised that in this day and age, they are allowed to post the jackpot without saying the odds of winning it. "Gamble responsibly"..

    • Quantumcat on 23/02/2022 - 08:51
      +4

      People wouldn't be able to tell the difference conceptually between a one in hundred thousand shot or a one in ten million shot

  • subydooby on 23/02/2022 - 08:31
    -5

    Your odds of winning are about the same with or without a ticket…

    • Xistn on 23/02/2022 - 09:12
      +1

      Zero is zero.

    • brazen00 on 23/02/2022 - 09:40
      +15

      While the odds of winning are astronomically low, in probability there is a massive (infinite?) difference between "approximately zero" and "exactly zero".

      • freefall101 on 23/02/2022 - 11:02
        +13

        Yup, I always buy the cheapest ticket I possibly can. Going from 0 in 135 million to 1 in 135 million increases the chances infinitely. Going from 1 to 2 just doubles the chance of winning (and it goes down from there).

        Also buy tickets as early as possible, I get the most time daydreaming about what I'll spend $120m on, new car, new house, education fund for niece/nephew, building a billboard outside the house of the girl who broke up with me when I was 16 with "LOOK AT ME NOW!" written on it…

        It's a few dollars well spent.

  • screensaver on 23/02/2022 - 08:38
    -2

    I have approached this in a new way. I have made up a set of my own numbers and stick to them. I have had a few small wins already. I opened a lott account and do it there. Set For Life, I won 9.20 last night. Its good value, 7 daily draws for 9.70. 2 games. I keep the same numbers

    • Grunntt on 23/02/2022 - 09:42
      +3

      I won $9.20 last night. Its good value, 7 daily draws for $9.70 ie I only lost 50c last night

      • fixed it for you.
      • screensaver on 23/02/2022 - 10:47
        -1

        you are wrong because I won 3 days ago too, 8.50

        • Grunntt on 23/02/2022 - 10:57
          +3

          Without that additional information you supplied my math is still correct for your earlier post.

          I basically just forget about the cost of the ticket when I buy it and look at anything I 'win' as a positive. (I buy tickets so rarely that I really don't need to track my wins/losses - it's usually only when someone else asks if I want to go in with them so it's more like social lubrication than anything else).

          • screensaver on 23/02/2022 - 11:26

            @Grunntt: You missed my point. its good value because its only 9.70 for 7 days of draws, 2 games. I just had my first 2 small wins. I like having a draw everyday.

            • TEER3X on 23/02/2022 - 21:16
              +1

              @screensaver: It's absolutely not good value. You're expected return is negative.

              The current powerball jackpot on the other had probably has a positive expectation.

              If you're talking about you get utility/enjoyment out of it, then that doesn't apply equally to everyone else and would be difficult to quantify.

              • screensaver on 23/02/2022 - 21:38

                @TEER3X: itis good value because its only 55 cents per game, for 4.5 million, minmum 14 games over 7 seperate draws so for ypur $9.70 you get 2 chances each in 7 draws. Its the best value. Set For Life

                • gromit on 24/02/2022 - 08:03

                  @screensaver: it really is not good value. Though if you are going to gamble and just leave it at that at least you aren't losing too much. $500 a year. I know people that spend double or triple that that really can't afford it. They also say it is "only" X and good value. The reality is though if they put it in a bank account the money saved each year could actually make a difference to them.

  • Archi on 23/02/2022 - 08:48
    +4

    very first thing i do… is wait till i get the money before i do anything.

    split the $120 mil in half.

    • first half pay off mortgages and debts of family and close friends. this is probably in the vicinity of 10 mil.
    • set up a tuition fund for kids for close family and friends. about 5 mil.
    • spend 5 mil on myself and family.

    • 40mil left over will be invested in various places

    • the second half placed in an investment fund. where the proceeds of the money will be donated to charity. this way $60 mil of money will forever be generating funds to donate to charity. a modest 5% return per year will yield $3 mil every year for charity.

    • pyramid on 23/02/2022 - 09:46

      Who pay tax on your $120mil

      • Archi on 23/02/2022 - 09:52
        +2

        all in cash and under the bed mate. LOL

      • Nebargains on 23/02/2022 - 14:58

        Aren't lottery winnings tax free in Australia?

        • cashless on 23/02/2022 - 15:45
          +1

          The winnings are tax free, but the moment you invest it (or it changes hands, e.g. give to someone else) the subsequent proceeds will be taxed at the normal rates.
          The trick is to to spend some yourself and try to ring-fence the rest as best as possible, probably using trust funds etc.
          Give Jeff Bezos a call and he'll tell you how it works…

          • serpserpserp on 23/02/2022 - 20:43

            @cashless:

            e.g. give to someone else) the subsequent proceeds will be taxed at the normal rates.

            The normal rate of 0%?

          • Jimmycfc on 24/02/2022 - 12:24

            @cashless: Put majority of it into a business/investment and then get a loan to live day to day, can claim tax against the loan.

    • gromit on 24/02/2022 - 16:04

      If you want to make a fund that has a ongoing charity benefit you need the amount to grow otherwise you suffer rather serious diminishing returns due to inflation over long periods.

      e.g. with current inflation rates if you got it in 2010 you would need that 60m to grow to almost 75m to have the same charitable effect in 2022. So you want a couple of percent of that return growing the fund.

  • Quantumcat on 23/02/2022 - 08:48
    +2

    Mmmm I might buy a ticket. If I won I would pay off my mine, my parents, friends, and sisters in law's mortgages. Buy an apartment in the centre of Sydney, one in perisher, and a house on the Central Coast. The rest in safe investments to live off the dividends.

    • Grunntt on 23/02/2022 - 09:45
      +3

      I had similar thoughts but my properties would more likely be in the UK, Italy (due to family) and one other international location.
      Following spring across the globe appeals to me.

    • Ghost47 on 23/02/2022 - 10:52
      +1

      The only issue with owning/living in multiple locations is not having the exact same setup in each location.

      The amount of times I’ve said “ok now where’s my [insert item here] oh great I left that in [other location].” Or having different cooking utensils. Basically you need two of everything just in case.

      • Grunntt on 23/02/2022 - 11:04
        +2

        Basically you need two of everything just in case.

        You do realise this is based on having won $120 million?

        I don't see a problem, other than it being extremely wasteful, with owning more than one of anything.

        • Ghost47 on 23/02/2022 - 11:05

          Of course I do.

          My point is that it’s more a pain in the ass living in multiple places, but I guess that depends on the individual.

      • freefall101 on 23/02/2022 - 11:05

        With $120m I'm pretty sure you could afford three lots of the same kind of utensils. Just wait for a good sale on OXO Good Grips stuff and buy three lots at once.

        • Ghost47 on 23/02/2022 - 11:08

          You could afford to have the exact same setup in each location yes. It’ll probably make life a lot easier if the OPs commute is long (guessing it is if they’re going from the Central Coast to Sydney every day).

          • Grunntt on 23/02/2022 - 11:20

            @Ghost47: $120 million and going to commute daily?

            • Ghost47 on 23/02/2022 - 11:40

              @Grunntt: Well not if they have an apartment in Sydney.

      • 900dollaridoos on 23/02/2022 - 12:30
        +1

        Or having different cooking utensils

        Yeah my chef is really gonna hate that feeling.

        • bondy28 on 23/02/2022 - 13:18
          +1

          You made my day

          • 900dollaridoos on 23/02/2022 - 15:53
            +2

            @bondy28: There's actually a quote out there by an out of touch celebrity (I think maybe Paltrow) about how stressful motherhood is. Something about how one kid wants tomato on their pizza and the other doesn't and it's just heartbreaking seeing the stress on her chef's face.

  • deme on 23/02/2022 - 09:33

    Gambling is a tax on the stupid.

  • Derrick Crane on 23/02/2022 - 09:54

    If I win I am not going to stop sending out the begging letters.

  • Porker on 23/02/2022 - 10:10

    I only buy tickets when I know I'm going to win.

    • John Kimble on 23/02/2022 - 10:16
      +2

      When is that? How do you know?

      • dylanando on 23/02/2022 - 10:17
        +6

        Probs means he doesn’t buy any lol

        • Porker on 23/02/2022 - 10:50

          ^^^ This :)

  • Ghost47 on 23/02/2022 - 10:49
    +4

    Powerball’s odds are terrible and the worst out of all lotteries (I think) but I’m gonna have a punt because in the light of the Australian housing market those odds look good.

    If I won I wouldn’t tell anyone, not my parents, not my brother, not my partner — NO ONE. And I’d do the following:

    • Pay off HECS debt
    • Buy a house to live in
    • Give my brother money for a house to live in (at least enough to cover a deposit or so that it’s only 2 or 3x income to pay off the rest)
    • Buy my brother a car (if he wants one)
    • Help my folks renovate their house so it’s nicer to live in
    • Help out extended family, e.g. give some cash for a house deposit to cousins or something, pay off mortgages etc.
    • Donate to charity
    • Max out all HISAs I can think of and live off the annual interest
    • Invest more money into ETFs and stocks, also shares with monthly dividends
    • Give some money to friends
    • Quit my job and find a new one, taking my time to do so because my emergency fund has now ballooned by millions (I have enough to probably live comfortably for two years without a job currently but it’ll be nice having a lot more)
    • Start a business

    Of course there’d still be plenty left over after doing all of this. One can dream.

    • Grunntt on 23/02/2022 - 11:16
      +7

      I don't think people realise the actual scale of this amount of money.

      I had to explain it to my father this way -

      If you are living comfortably off of $100,000 per year after tax then, without taking into account any interest earned, $120 million would last you for 1,200 years.
      Even if you spend a third of it initially (~$40 million) and increase your annual spending to $500,000 it will still last for 160 years.
      And that is without a single cent of interest being accounted for (if you manage 5% pa that's $6m per year before tax)

      • Trying2SaveABuck on 23/02/2022 - 11:30
        +4

        This is pretty much it if you 'gave away 20m' and kept 100m and simply just put the 100m in the bank at 1.5% interest that is 1.5m before tax ~1m a year after tax.

        In practical terms you have ~$20,000 a week net salary for the rest of your life for taking the 'lowest risk' option

        If just invested in EFT/Stocks managed 5% which is pretty conservative thats 5m a year or 100k a week to spend. I actually cannot imagine what life would be like not having to worry about money but it would be pretty amazing i reckon.

        • Grunntt on 23/02/2022 - 11:38
          +4

          That's how I look at it - it's not about all the amazing things to buy. It's more about the removal of any worry about having enough money now or in the future.
          That worry being totally removed from every decision you make is the major benefit for me.

          I have a friend that retired very early and he says that he hadn't realised how much of an underlying feeling of making sure he had enough money had always been there.
          He is financially independent and he says the absence of that feeling is the best thing to come out of it.

          • YellowHouse on 23/02/2022 - 20:50

            @Grunntt: Surly that's just about your own inner awareness, and shame and inability to say no right?
            I just don't like that, I feel you should live like that all the time, not just retired. Just about living in reality, and aware, and not buying into things, minimalist maybe. Do I do this? No but I hope to. Just figure out how much you have and spend it on the best quality things you can.

        • jv on 23/02/2022 - 13:52
          +2

          thats 5m a year or 100k a week to spend.

          How many eneloops is that?

          • serpserpserp on 23/02/2022 - 20:46

            @jv: Almost enough to charge a Tesla for a drive from Melbourne to Sydney

      • nigel deborah on 23/02/2022 - 13:24
        +2

        This would also be a great way to explain how unlikely you are to win. Your odds of a Div 1 win (based on what someone posted above) is the equivalent to picking out a specific dollar coin at random, in that $120,000,000.

        If you picked out a single dollar from your 120,000,000 dollar pile (and then put it back), every day for 1,000 years, there's still a 99.6963% chance that you won't have found it…

        • jv on 23/02/2022 - 13:53
          -1

          I don't think they are the true odds.

          Prize                                    Probability
Jackpot (5 Numbers+ Powerball)           1 : 292,201,338
Second Prize (5 Numbers)                 1 :  11,688,053
Third Prize (4 Numbers + Powerball)      1 :     913,129
Fourth Prize (4 Numbers)                 1 :      36,525
Fifth Prize (3 Numbers+ Powerball)       1 :      14,494
Sixth Prize (3 Numbers)                  1 :         579
Seventh Prize (2 Numbers + Powerball)    1 :         701
Eighth Prize (1 main number + Powerball) 1 :          91
Ninth Prize (Powerball)                  1 :          38
Any Prize                                1 :          25

          https://www.lottoland.com.au/magazine/the-probability-of-win…

          • nigel deborah on 23/02/2022 - 14:09

            @jv: Almost 3 times worse, then? Probably worth considering some of the other prizes though, I assume second and third prize are still substantial.

          • askbargain on 23/02/2022 - 17:12
            +2

            @jv: That's not even for Australia's Powerball.

          • DASHCAM NOW DUDE on 23/02/2022 - 19:40
            -1

            @jv: It's worse than that. You need 6 numbers and the Powerball.

      • lunartemis on 23/02/2022 - 18:56
        +1

        That is the reality for many of the billionaires.. I heard someone said if Bill Gates dropped $10K on the ground, he would have made another $10K by the time he bends over to pick it up

    • cheeseburger on 24/02/2022 - 02:03

      Just out of curiosity, is your intent for wanting to start a business or find another job because you enjoy working and want an activity to do?

      • Ghost47 on 24/02/2022 - 10:48

        I think doing work you’re passionate about and helping others through it is a good thing, so that’s why.

  • brendanm on 23/02/2022 - 11:27

    Not go to work Friday.

    • Trying2SaveABuck on 23/02/2022 - 11:41

      Perhaps not go to work again?

      for me i certainly wouldn't work for a 'boss' again - but then again i work for a massive flog so that might just be me

      • brendanm on 23/02/2022 - 17:16

        Sorry, I meant not show up Friday, or ever again.

      • downbythecreek on 23/02/2022 - 22:43
        +1

        I also work for a massive flog, but sadly quitting won't help, I'm self employed…

    • Zondor on 23/02/2022 - 15:21

      It takes 3 weeks or so for the money to reach your account.

      • brendanm on 23/02/2022 - 17:16

        Not sure why that matters?

        • Zondor on 23/02/2022 - 17:43

          Don't count your eggs before they have hatched.

          • brendanm on 23/02/2022 - 17:59

            @Zondor: Huh? If you've got the numbers, you've got the numbers.

  • screensaver on 23/02/2022 - 11:30
    -5

    Powerball is good because there are only 35 numbers in the first barrel and 20 in the second, compared to 45 numbers in the other games

    • popsiee on 23/02/2022 - 11:32

      The extra ball makes it mission impossible but its good for Tatts as bigger jackpots = greater sales .

      No doubt they are praying it doesn't go off this week .

      • screensaver on 23/02/2022 - 11:34
        +1

        you can do a powerhit and you are guaranteed the powerball

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