 RE:Talk about a feel good story!
Actually the government is only responsible for a portion of that-
some actuary somewhere[img]i/expressions/face-icon-small-smile.gif[/img] bid on the net present value of the jackpot. Prized job amongst my schoolmates and nice business to be in, every lotto jackpot gets sent out for bid from a finance company that wants to assume the jackpot annuity. Actually very good business to be in right now too as it seems rates have nowhere to go but up, so anyone accpeting the annuity right now is probably screwing themselves pretty good.
But it is a joke, I blew $75 on powerball tix for tonight-and to get to posev with taxes included the jackpot has to get to around 4-5 times the expectation of 132million to one.
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In 1998 the Department of Justice brought charges under the Wire Act against 22 American citizens involved in managing foreign-based sites. "You can’t hide online," Janet Reno, the attorney-general, warned Internet betting operators, "and you can’t hide offshore."
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