Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 | 3 | 4 | 5 | 6 | 7
554 posts

Ultimate Geek


  #2428843 28-Feb-2020 14:33
Send private message

thanks for reminding me to get my lotto ticket.





Balm its gone!


3767 posts

Uber Geek

Lifetime subscriber

  #2428846 28-Feb-2020 14:41
Send private message

Zepanda66:

 

I pity whoever wins. The pressure and anxiety they'll have coming in from society, friends and family. I hope they find that old reddit post on what you should do if you ever win lotto there was some great advice in that thread. 

 

 

I'll be happy to advise them. 🤑

 

But seriously... I think the pressure and anxiety comes from wanting to hang onto the money. Spend a whole lot, give a whole lot away. Once you get down to 1-2M left, you'll still be wealthy, own a whole lot of assets, friends and family will have as much as you, and you won't have enough left for anyone else to keep pestering you. "I'd love to help you, Joe, but I gave the rest of my money to Fred last week".

 

 

 

 


 
 
 
 


393 posts

Ultimate Geek


  #2428890 28-Feb-2020 14:49
Send private message

frankv:

 

Zepanda66:

 

I pity whoever wins. The pressure and anxiety they'll have coming in from society, friends and family. I hope they find that old reddit post on what you should do if you ever win lotto there was some great advice in that thread. 

 

 

 

 

But seriously... I think the pressure and anxiety comes from wanting to hang onto the money.

 

 

 

 

 

 

Na its not just that. We've already seen it in this thread other users practically demanding the winner to contribute to the community or some charity. Like every lotto winner has some damn obligation to donate/contribute to a charity. And I'm just sitting here like piss off with that crap. No. They have no obligation to give anything to anyone. Its their money. Period. 





http://www.speedtest.net/result/7315955530.png


10390 posts

Uber Geek


  #2428892 28-Feb-2020 14:53
Send private message

frankv:

 

"I'd love to help you, Joe, but I gave the rest of my money to Fred last week".

 

 

So that's where the vegemite jar full of 5c coins came from...


714 posts

Ultimate Geek


  #2428921 28-Feb-2020 15:48
Send private message

frankv:

 

You don't have to keep all that $50M... spend a million of capital each year as well.

 

Of course you don't have to keep it. You can spend a million of capital each year if your goal is to get rid of the whole lot. But then you don't get that $1m in interest each year. The point I was making is that winning Lotto isn't an inherently selfish thing and that you could benefit others from the interest alone and still have the original $50m available to charity when you pop your clogs. Obviously you can split it up any way you want.

 

 

 

BTW, my understanding is that 1/3 of Lotto income (the "profit") goes to prizes. One third goes to the retailer and one third to the Lotto organization for infrastructure costs, salaries, advertising, etc.

 

So the Lotto sellers are making as much as the prizewinners. So maybe invest some of your $50M in buying a Lotto outlet or two, and have an ongoing stream of wealth.

 

No, all of the profit goes to the Lottery Grants Board.

 

"Under the Gambling Act 2003, all profits from playing Lotto are used to benefit New Zealand communities. The New Zealand Lotteries Commission runs the Lottery, and the New Zealand Lottery Grants Board distributes its profits."


2159 posts

Uber Geek

Trusted

  #2428936 28-Feb-2020 16:27
Send private message

sidefx:

 

I forget where I heard it, but someone once said something along the lines of "Lotto is just like tax for people bad at math" 😆

 

 

 

Having said that I have a ticket of course...

 

or simply, a stupid tax.

 

 

 

I too have a ticket :D


14633 posts

Uber Geek

Trusted
Lifetime subscriber

  #2428968 28-Feb-2020 16:58
Send private message

If we won, my wife and I agreed long ago we’d tell nobody.

I’d make an appointment to see our bankers, have them pay off the mortgage and invest the remainder bar $500k for immediate expenses.

Then have it transferred into our Trust, of which siblings and children of siblings are the eventual beneficiaries.

In a few years, I’d gift some money to siblings having set up a backstory about selling businesses etc first. Just enough to pay their mortgage off and a bit as a bonus.

They can find out about the rest when we die.





 
 
 
 


5325 posts

Uber Geek


  #2429009 28-Feb-2020 18:04
Send private message

Got my ticket, gotta be in to win, although I realise the chance is slim-to-nil. Still, it's a bit of fun.


23395 posts

Uber Geek

Trusted
Subscriber

  #2429016 28-Feb-2020 18:30
Send private message

I aint telling anyone if I win, and with the corona virus looking to hit soon I would probably get a few huge as freezers and a whole lot of frozen food to see me thru a few months with zero contact outside the property if I was to win this weekend.





Richard rich.ms

393 posts

Ultimate Geek


  #2429032 28-Feb-2020 19:26
Send private message

richms:

I aint telling anyone if I win, and with the corona virus looking to hit soon I would probably get a few huge as freezers and a whole lot of frozen food to see me thru a few months with zero contact outside the property if I was to win this weekend.



Or you could join your fellow billionaires in their top secret bunker that's apparently somewhere hidden in NZ. If you
believe the conspiracy theorists. 😉




http://www.speedtest.net/result/7315955530.png


Mad Scientist
22411 posts

Uber Geek

Trusted
Lifetime subscriber

  #2429043 28-Feb-2020 19:44
Send private message

Geektastic: If we won, my wife and I agreed long ago we’d tell nobody.

I’d make an appointment to see our bankers, have them pay off the mortgage and invest the remainder bar $500k for immediate expenses.

Then have it transferred into our Trust, of which siblings and children of siblings are the eventual beneficiaries.

In a few years, I’d gift some money to siblings having set up a backstory about selling businesses etc first. Just enough to pay their mortgage off and a bit as a bonus.

They can find out about the rest when we die.


Lol great minds think alike




Involuntary autocorrect in operation on mobile device. Apologies in advance.


92 posts

Master Geek


  #2429108 28-Feb-2020 22:42
Send private message

duckDecoy:

 

minigopher17:

 

It's down to maths and money.

 

Maths: Each Lotto + Powerball line costs $1.50. So if you bought every single possibility of numbers (~38 million combinations) to guarantee you'd win, that would cost around $57m and you'd still lose out with the $50m jackpot. Therefore Lotto will never have a jackpot higher than $57m unless they increase the cost of playing per line again.

 

 

its a little better and a little worse than that.  The better side is that not only will you win 1st division, but you will also win a bunch in the other divisions as well.  But the worse side is that you assume you hit the $50m alone, it could well be shared.  But I get your main point.

 

 

 

 

I didn't think that's how it works.  I.e. if you win 1st division, you don't get the accumulative winnings of division 2-7, only the winnings for division 1 (1 million + Powerball).

 

 

 

I'm ready for another disappointment this Saturday.  Bought two tickets as I have most of the recent few jackpots.


1015 posts

Uber Geek

Trusted

  #2429137 29-Feb-2020 07:38
Send private message

If I had a 50 mill ticket, I would be claiming it as a family sindicate.


816 posts

Ultimate Geek


  #2429145 29-Feb-2020 08:58
Send private message

Intravix:

 

duckDecoy:

 

its a little better and a little worse than that.  The better side is that not only will you win 1st division, but you will also win a bunch in the other divisions as well.  But the worse side is that you assume you hit the $50m alone, it could well be shared.  But I get your main point.

 

 

I didn't think that's how it works.  I.e. if you win 1st division, you don't get the accumulative winnings of division 2-7, only the winnings for division 1 (1 million + Powerball).

 

I'm ready for another disappointment this Saturday.  Bought two tickets as I have most of the recent few jackpots.

 

 

The one winning line doesn't accumulate the lower combinations, no.  But if you've purchased every combination possible, then there will be other lines that do cover all the various divisions and combinations.  So, more than one line will win prizes, not one line winning multiple prizes.





92 posts

Master Geek


  #2429279 29-Feb-2020 14:14
Send private message

geoffwnz:

 

Intravix:

 

I didn't think that's how it works.  I.e. if you win 1st division, you don't get the accumulative winnings of division 2-7, only the winnings for division 1 (1 million + Powerball).

 

I'm ready for another disappointment this Saturday.  Bought two tickets as I have most of the recent few jackpots.

 

 

The one winning line doesn't accumulate the lower combinations, no.  But if you've purchased every combination possible, then there will be other lines that do cover all the various divisions and combinations.  So, more than one line will win prizes, not one line winning multiple prizes.

 

 

 

 

Oh duh I did not think of that haha.

 

6 hours to go :)


1 | 2 | 3 | 4 | 5 | 6 | 7
View this topic in a long page with up to 500 replies per page Create new topic





Twitter and LinkedIn »



Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Chorus completes the build and commissioning of two new core Ethernet switches
Posted 8-Jul-2020 09:48


National Institute for Health Innovation develops treatment app for gambling
Posted 6-Jul-2020 16:25


Nokia 2.3 to be available in New Zealand
Posted 6-Jul-2020 12:30


Menulog change colours as parent company merges with Dutch food delivery service
Posted 2-Jul-2020 07:53


Techweek2020 goes digital to make it easier for Kiwis to connect and learn
Posted 2-Jul-2020 07:48


Catalyst Cloud launches new Solutions Hub to support their kiwi Partners and Customers
Posted 2-Jul-2020 07:44


Microsoft to help New Zealand job seekers acquire new digital skills needed for the COVID-19 economy
Posted 2-Jul-2020 07:41


Hewlett Packard Enterprise introduces new HPE GreenLake cloud services
Posted 24-Jun-2020 08:07


New cloud data protection services from Hewlett Packard Enterprise
Posted 24-Jun-2020 07:58


Hewlett Packard Enterprise unveils HPE Ezmeral, new software portfolio and brand
Posted 24-Jun-2020 07:10


Apple reveals new developer technologies to foster the next generation of apps
Posted 23-Jun-2020 15:30


Poly introduces solutions for Microsoft Teams Rooms
Posted 23-Jun-2020 15:14


Lenovo launches new ThinkPad P Series mobile workstations
Posted 23-Jun-2020 09:17


Lenovo brings Linux certification to ThinkPad and ThinkStation Workstation portfolio
Posted 23-Jun-2020 08:56


Apple introduces new features for iPhone iOS14 and iPadOS 14
Posted 23-Jun-2020 08:28



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.