[Closed] Is the EuroMillions Jackpot getting too big?

I know we'd all think we'd love to win it but there's a part of me that thinks it'll ruin the life of whoever does win.

You only hear of the lottery winners who have gone off the rails - the ones who have been nice and sensible, have invested wisely and now live a comfortable life aren't newsworthy.

I would worry about that if i won it, better to worry about having to much than to little

he says and never even has a go

A couple of million is undoubtedly life changing (unless you're already rich), but something like £154million is just mental.

Wouldn't it be better if they just created lots more prize winners in the £100k - £10m range?

I'd reckon, yeah. But I think it would be better if people din't pin so many hopes and dreams on a form of gambling...

I won a grand total of £8 on Friday, so of course I'm putting some of that back into tonight's draw.

Don't see how having the proper jackpot would ruin your life unless you're a complete idiot with it.

I reckon I'd cope!

Some of my neighbours has won the lottery. They moved into a nice converted barn nearby and are generally ordinary people with a large bank account. Not Lotto yobs or any other of that redtop trash sensationalist rubbish.

£25 million. Just enough.

How much of that would you all give to STW to keep the hamsters running?

Tbh if I won that amount, the vast majority would go to charity.Keep a nice amount for myself,some to family and friends. There's plenty of worthy causes,big and small.

Funny article in a paper at the weekend - quite a few winners are now bankrupt.

I've always said the prize should be a few hundred £K max - enough to help out a lot but not make you go too mental.

If I won I'd buy you all a bike; the jackpot can never be enough, private jets to the Alps for an afternoons riding, buying private islands etc etc; It would be the bollocks, people who say money is the root of all evil haven't got any, FACT.

people who say money is the root of all evil

...would be mis-quoting.

FART.

I know we'd all think we'd love to win it but there's a part of me that thinks it'll ruin the life of whoever does win. I'd immediately worry for the safety of myself and family and what it would do to my friends.

What's the correct quote then Elfin?

Either way, I'd have cedar wardrodes full of Turnbull and Asser shirts, a last of my feet at John Lobb for my shoes, a chef, a Maybach, Sacha White on speed dial for new frames, the list goes on.

I've got a solid family, no psychological baggage, I've self actualised, so I could just enjoy that money.

I came to this world with nothing and I'll leave with nothing but love, everything is is just borrowed.

For the [b]love[/b] of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.

[b]1 Timothy 6:10[/b]

Amazing thing is that when the jackpot gets that high ticket sales rocket. Almost as if the normal 10mil is not worth bothering with.

I've self actualised

Disgusting. 😐

I'd first make sure my parents had any/all debts paid off and buy them somewhere nice to live in the south of France like they've always wanted.. then buy a house in Canada for me and my mates to live in. It'd be awesome 😀

[img] http://imgur.com/kpkPz [/img]

Elfin, it's not difficult, once you realise that life will throw s**t at you how ever hard you try and there are always people worse than yourself its becomes alot easier.

[img] [/img]

Then I too have Self-Actualised! 😀

[img] [/img]

Well maybe not but I felt like a little dance anyway.

I'd quite happily cope with £154m. Set up a few endowments for good causes, pay off friends and family's mortgages etc etc

Would still carry on working - as I quite enjoy it.

Jesus Elfin you've agreed on something in less than 3 posts, you have definately have actualised!

Didn't realise they'd changed the game. Apparently you have more chance of being hit by lightening. I do think the jackpot should be capped, and the prize fund should filter down more equally, but it's the mega sums of money that keeps people playing - on Friday there was 2 million players every hour!

Jackpot is capped at.185mill or so and the extra above that if still rolling over goes into lower prize points !

Yes, I think the main prize has got too big and should be filtered down/spilt more evenly.
Unless I win it in which case it's fine thank you very much.

😉

far too big a jackpot.
154 draws for 1 million would be better.
200k would set me up for life........... 😀

Any of you who think that £154 mill is to much I'll take some off your hands. E-mail in profile 8)

the lottery is a tax on people who are unable to comprehend simple maths.

peterfile - Member
the lottery is a [s]tax on people who are unable to comprehend simple maths. [/s] bit of fun which might change a small number of people's lives but raises enough money to change a lot of lives

FTFY

I agree with Flashy. I live in a 'deprived' area and there are lots of things that have bin funded using Lottery money, which do help make a difference to many people's lives, mine included (local leisure centre was built using Lottery money).

So I'm quite glad so many people are crap at maths....

Elfinsafety - Member
I agree with Flashy.

Quoted for posterity! 🙂

It is though effectively a regressive tax.

i often day-dream about how i'd spend my winnings, but it's irrelevant as i never buy a ticket..... 😕

Well it's got bigger, estimated £166 million.

I know we'd all think we'd love to win it but there's a part of me that thinks it'll ruin the life of whoever does win. I'd immediately worry for the safety of myself and family and what it would do to my friends.

You'll still be my [s]friend[/s] aquaintance when I win it and you can advise me how to invest it wisely so that I do not become newsworthy 😀

It is though effectively a regressive tax.

Bingo! (excuse the pun)

I like the fact that people on benefits spend £25 a week on tickets, it's a stealth tax.

Income tax collected ---> paid to people on benefits ----> benefits spend on lottery tickets and fags ----> lottery proceeds used for the benefit of the wider community

soooo, basically someone thought...

"we're going to have to raise income tax, there's no way we can afford to pay all these people on benefits AND build that new day care centre in East London!"

"If only there was a way of getting poor people to contribute... but that's absurd, they clearly can't contribute because they have no money, otherwise they wouldn't be on benefits!"

"Eureka!! Studies have shown that poor people in other countries like lottery and fags. Let's start a national lottery which pumps money back into the community and put an insanely high duty on fags!"

Job done.

(before the skinny latte warriors of STW try to explain that I'm everything wrong with society, this is meant as a little joke. 😆 )

I reckon I could blow £100m in a couple of years so having another £50m+ to fall back on would be a useful safety net.

Think I could live with it... why worry... the bigger the better as I'm going to win it 🙂

If you won, say, 150m, how much would you lose to tax?

If you won, say, 150m, how much would you lose to tax?

You don't get taxed on the lottery???

The answer is 0%.

You don't get taxed on the lottery???

No.

It's gambling, they would love to be able to tax winnings, however that would make losses tax deductible.

The last thing you want is someone paying £100k per year in tax losing his salary in a poker game with his mate and offsetting his poker losses against his employment earnings and not having to pay any tax.

sod the tax, think of the interest....

Although what's the best way of passing some of it on to relatives etc. Presumably they'd be liable to CGT on any money gifted. What about buying houses/cars (with them being the registered owner)?

sod the tax, think of the interest....

you would get taxed on the interest 😀

Other than married partner - inter family gifts are taxed over £3000 unless you die within 7 years in which case it falls under Inheritance tax (I think).

A gift is tax free and not liable for Inheritance tax as long as it is made 7 years or more before death (to avoid people giving away their wealth tax free on their death bed). CGT does not apply to gifting, its a tax on gains.

If you won £150m then you could give huge amounts away (in fact there is no IHT payable at all on gifts made out of regular income, it's only if you use capital). You just have to make sure on big capital gifts that you don't die straight away afterwards (by for example, being shagged to death by 20 stunning high class escorts the night after your cheque clears....)

Is it getting too big?

Not if I won it!

Getting too big? It's a standard of living I could very rapidly get used to.
And no, it wouldn't be squandered on useless business ventures, fleets of ugly trashy cars, or inhaling most of Columbia. A number of small local charities, like BARB (Burnham Area Rescue Boats) would certainly benefit though.
BARB run the rescue hovercraft from Burnham-on-Sea, and do a fantastic job dragging stupid grockles out of the mud every year, with only local fundraising, so their running costs would be covered if I had that kind of money.
I'd be able to retire and go travelling, too, and not worry about the damned mortgage anymore as well.

you could spend about £15,000 per day and still not spend the interest !, how many days does it take to buy every possible type of bike ?