MrBusinessMan
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posted on June 15, 2001 08:46:41 PM
A New Jersey guy did just that. He found out that he had a winning ticket worth almost $24 million and he MAILED IT IN!!!
If only ebaY bidders were so trusting...
http://www.cnn.com/2001/US/06/15/lottery.winner.03/index.html
[ edited by MrBusinessMan on Jun 15, 2001 08:47 PM ]
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kyms
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posted on June 15, 2001 09:01:54 PM
I thought the same thing!
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tomwiii
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posted on June 15, 2001 09:02:57 PM
I wonder if he'll marry me??!! 
I'm not very picky!
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MrBusinessMan
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posted on June 15, 2001 09:06:48 PM
tomwiii:
Do you think he might be your type?
With 24 million bucks I'm guessing yes...
[ edited by MrBusinessMan on Jun 15, 2001 09:10 PM ]
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tomwiii
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posted on June 15, 2001 09:25:37 PM
Yo! For 24 mill...I'm Madonna!
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reamond
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posted on June 16, 2001 12:15:10 AM
It was actually 46 million- the 24 million was a lump sum pay out figure, but he opted for a 26 year pay out [ approx 1.8 million a year]. He had only 4 days left to collect the money before it was forfeited. He heard about it on the news and went through his " junk" draw and found the ticket he forgot he purchased.
He had the ticket confirmed at a carry-out before he mailed it in. Although he didn't know it, the lottery said that once confirmed at the carry-out, he could collect even if the letter was lost.
Could you imagine forfeiting 46 million ?
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Pandoras_Trinkets
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posted on June 16, 2001 04:04:23 AM
He really has faith in the Post Office! just slaped a stamp on it. I wonder why he didn't just drive it in? Probably out of sick days at work 
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gravid
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posted on June 16, 2001 09:01:05 AM
Someone is going to call me a racist because the guy is black - but he is an idiot twice.
First to use the lottery supplied no postage needed form for that much money. Would you trust them to pay out if it had gone missing??
Second for taking the long payout. If you calculate the benifits of taking the lump sum at the end of the payout period you will be way ahead.
But then people who play the lotto don't calculate well or they would not be playing in the first place. I guess that is why they offer the yearly pay-out they know their suckers. If he continues doing whatever comes to mind and does not seek any expert advice he will end up like so many lotto winners do - bankrupt and screwed out of his winnings by the friendly government.
[ edited by gravid on Jun 16, 2001 09:02 AM ]
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reamond
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posted on June 16, 2001 09:40:59 AM
Another reason not to take the long pay out is if whoever handles the annuity falls into finanacial trouble, or if the states guarantee the annuity, they to can fall into finanacial trouble.
Lottery pay outs will be the first things to be curtailed when a finanacial disaster hits.
As if I'll ever have to make the choice !!!!
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grumpyebayer
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posted on June 16, 2001 11:26:19 AM
gravid:
First to use the lottery supplied no postage needed form for that much money. Would you trust them to pay out if it had gone missing??
once validated the state pays up.
Second for taking the long payout. If you calculate the benifits of taking the lump sum at the end of the payout period you will be way ahead.
He chose the one time lunp sum.
I guess that is why they offer the yearly pay-out they know their suckers. If he continues doing whatever comes to mind and does not seek any expert advice he will end up like so many lotto winners do - bankrupt and screwed out of his winnings by the friendly government.
You don't know if the winner has gotten advice from an expert or not. If he ends up bankrupt he will be like many other Americans lottery winners or not.
I know one family and one individual that have won big lotteries. The family won almost 40 million and the individual won almost 15 million. The individual that won the 15 million was in the banking industry. He took the payout over the years. He isn't stupid or a sucker. He probably knows as much about it as anyone else. Obviously he saw some benefit in the long payout.
But then people who play the lotto don't calculate well or they would not be playing in the first place.
Why would you say that? Do you really think that people who play have no idea of the odds involved? Most of my friends that play the lottery are affluent with college degrees. They are not deluding themselves into thinking they have a good shot at winning a million bucks.
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Microbes
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posted on June 16, 2001 12:50:31 PM
tomwiii
I wonder if he'll marry me??!!
I'm not very picky!
Let's see how picky you are.... I've got 24 bucks in loose change 
[ edited by Microbes on Jun 16, 2001 12:51 PM ]
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grumpyebayer
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posted on June 16, 2001 01:14:18 PM
Microbes: TOO FUNNY!!!!
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tomwiii
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posted on June 16, 2001 01:21:20 PM
a lot pickier than that!
For that moola, ya don't even get a first date!
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