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Old 04-04-2010, 20:24   #1
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Know Any Cruisers Who Have Won the Lottery ?

My shove off date is less then 3 years away, and I still live paycheck to paycheck.

I know if I sell everything I own, I will make it. I will leave to dock on time, I will circle this big crazy planet. It may be a 25' nothing boat, but I WILL DO IT!!!

But has anyone ever met anyone who is out cruising or traveling who can do this because they won a state lottery?

A Florida lottery ticket is $1 each, from $5-50 million a week.

So 52 weeks x $1 x 3 years $156 investment into the cruising kitty.

Hell, I will settle for just one million!
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Old 04-04-2010, 20:28   #2
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good luck with that, if you win more then a million send some my way for our kitty,

Fair winds
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Old 05-04-2010, 04:08   #3
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You're three times more likely to be killed in a traffic accident, driving 16 kilometres (10 miles) to buy your ticket, than winning the jackpot.

Here is a sampling of the odds of some of the World's Great Lotteries:

LOTTERY TYPE Odds 1 Chance in:
US PowerBall 5/45 + 1/42 80,089,128
US The Big Game 5/50 + 1/36 76,275,360
Australian PowerBall 5/45 + 1/45 54,979,155
California SuperLotto 6/51 18,009,460
New York Lotto 6/51 18,009,460
Texas Lotto 6/50 15,890,700
Spanish Pimera 6/49 13,983,816
French Lotto 6/49 13,983,816
Liechtenstein Plus Lotto 6/49 13,983,816
British Lotto 6/49 13,983,816
Canadian Lotto 6/49 13,983,816
Washington Lotto 6/49 13,983,816
Scandinavian Lotto 6/48 12,271,512
Hong Kong Lotto 6/47 10,737,573
Australian Tattslotto 6/45 8,145,060
Australian Oz Lotto 6/45 8,145,060
Irish Lotto 6/42 5,245,786

Good luck!
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Old 05-04-2010, 04:35   #4
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I have a friend who says that lotteries are taxes on people who don't understand statistics.
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Old 05-04-2010, 05:35   #5
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I know someone who thought she'd won the lottery when a international company offered and paid her 12 times her personal estimate of what her business was worth. Even that was far more likely than actually winning the lottery.

P.
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Old 05-04-2010, 05:39   #6
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Is she looking for a sailing buddy? LOL
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Old 05-04-2010, 05:40   #7
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We met a couple 5 yrs ago on the Rideau Canal who had won a state lottery and were traveling around NA on this......
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Old 05-04-2010, 05:41   #8
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I won the lottery when I met my wife.
Gord you are truly a goldmine of information. Why bother with Google when we can just ask you :-)
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Old 05-04-2010, 05:47   #9
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Yes! I know someone who won the lottery and bought a Manta sail catamaran and took off for several years. He later sold it and bought a Manta power catamaran and took off again.

But I know lots more people who didn't win the lottery...

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Old 05-04-2010, 06:35   #10
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Heck, IMHO, everyone out cruising has won the lottery big time!

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Old 05-04-2010, 07:07   #11
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Originally Posted by Viking Sailor View Post
Heck, IMHO, everyone out cruising has won the lottery big time!

WELL SAID !!!
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Old 05-04-2010, 07:25   #12
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... Why bother with Google when we can just ask you :-)
Why “Google”?
Let me google that for you

See also:
Google is your friend! <3<3<3<3<3<3
Just ****ing Google It
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Old 05-04-2010, 07:52   #13
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Start selling your stuff now on Ebay. My biggest lottery winnings were selling my Sony Betamax and HP41 calculator from the 80s for hundereds of dollars. Maybe some of your junk is "collectible" too.

Having a basic smattering of statistics, I buy a powerball ticket only when the payoff is greater than $80 million, because then at least it's a "fair game", payoff is commensurate with the risk.
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Old 05-04-2010, 08:27   #14
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Several years ago, I was in a paper mill on a very early Monday appointment, arriving a few minutes before the superintendent and chatting with a group of his coworkers who were also waiting for him. Supt shows up with the Sunday paper with the winning lotto numbers on it from the Sat night drawing. He opens his desk drawer, pulls out a lottery ticket and the numbers match! He flips out, calls his boss and tells him to shove the job, calls his wife, the whole deal. it took him about 30 minutes to...

...check the date....apparently someone switched his ticket to a new one, bought on Sunday (the day after the drawing) that contained the wining numbers. His wife forbid him to buy lottery tickets, so he would keep them in his desk. Mean as hell, but it was sure fun to watch. His boss was in on it, so he did get to keep his job. Tough way to start a week.
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Old 05-04-2010, 08:31   #15
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S... Having a basic smattering of statistics, I buy a powerball ticket only when the payoff is greater than $80 million, because then at least it's a "fair game", payoff is commensurate with the risk.
I don't think so (but, I don't have a smattering of statistics).

According to the PowerBall website, the odds of winning a jackpot, with a single $1 play, are 1 in 195,249,054.00
I haven’t seen a $195+ million dollar payday.
A bet is worth making when the AFTER-TAX rewards are multiple of the cost to play, at least equal to the odds of winning.

Welcome to Powerball - Prizes

IS THE CASH AMOUNT THE JACKPOT AMOUNT AFTER TAXES?

No. When we advertise a prize of $100 million paid over 29 years (30 payments), we actually have less than $50 million in cash. When someone wins the jackpot and wants cash, we give them all of the cash in the jackpot prize pool. If the winner wants the annuity, we invest the $50 million in cash to fund the annuity payments. The winner gets the cash plus the interest earned. When you see an estimated jackpot annuity prize, we are estimating both sales and what the market's prices on certain securities will be. The annuity jackpot amount and the cash jackpot amount that we announce are always estimates until sales are final and, for the annuity jackpot, until we take bids on the purchase of securities.

Federal and State Income tax apply to whatever income you actually receive in a given tax year, whether it is wages or lottery prizes. If you take the cash amount (say $50 million), then you pay income tax on $50 million). If you take the annuity (say $100 million), then you pay income tax on the money you actually receive each year. Just like your wages, a withholding amount is required to be taken out immediately. The lottery will send you a W2-G form and you figure your actual tax at tax time.
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