Thursday, January 31, 2008

No Deal!?

I can’t stand Deal or No Deal. Everytime I watch it, they offer someone a ridiculously wonderful deal, and they don’t take it and lose the money and once-in-a-lifetime prizes. My wife ranted about one of those episodes last year.

Last night was NFL night, where they had several Hall of Famers making guest appearances (and the models were actually almost fully clothed with NFL jerseys, a nice change). You can watch the episode here.

The male contestant was a huge Colts fan, a teacher, and apparently he and his wife are deeply in debt.

His 3rd offer was $51,000. His 4th offer was $61,000. His 5th offer (with $1 million still on the board) was:

1 Chevy Tahoe
Tailgaiting equipment (cooler, utensils, grill, etc).
2 Superbowl tickets w/airfare and hotel provided.
4 season tickets to Colts games.
2 autographed team balls from the Colts Super Bowl team.
2 sideline passes to the Colts game of his choice.
1 ticket to a Colts practice and behind-the-scenes access.
He would get to throw out the opening ball at a Colts game.

The total value of this offer was given at over $106,000. This was understated because he could sell the Super Bowl tickets for $thousands$ more than face value.

His wife told him NOT to take the deal, and he obeyed her. He turned down the deal! Apparently, she didn’t feel they could pay off all of their debt with just $50,000 plus whatever extra they could get for the Tahoe! He lost all of that once in a lifetime offer (the Tahoe was given to a lucky audience member). His wife had the kind of…demeanor…that tells you that she always gets what she wants.

After he later turned down yet another offer for $214,000, his offer dropped to $189,000 and he took the deal. (If you're going to turn down the above NFL prize, why not play for the million!?)

Ironically, the $1 million grand prize was in his suitcase.

At this point, we were treated to a wild-eyed Marcus Allen running on stage screaming “I TOLD YOU IT WAS IN THERE!! I TOLD YOU!!!”

(This is the same Marcus Allen who insisted that O.J. was innocent).

I can’t imagine turning down an offer like he did. I hope he enjoys the $189,000, especially after taxes, but I don’t think it will ever replace all of the Colts stuff he turned down. I promised to never watch the show again, and I will stick to that promise.


Ryan said...

If I'm ever on a show liek that and they offer me something like that for Aggie football/basketball and I turn it have my permission to shoot me when I get home


I really think that show is also drives me CRAZY to see how the way people act when they are on stage....they stomp their feet and scream and act like an idiot.

TaylorW said...

Tapp - what is your Super Bowl pick?

JTapp said...

One way to think about the $56,000 in prizes he turned down-- they probably didn't have to be reported on his taxes, whereas all of his $189,000 will have to be. I don't know how dispersion works, but if it's up-front then he'll be kicked into a much higher tax bracket. Plus, he might have next year's AMT to worry about.

I'll post my Super Bowl pick tomorrow or Sunday.

Brian Shannon said...

The show is really an interesting social experiment to me. There is a book out called "The Tipping Point". In the book it shows examples of businesses that were either ok or about to fold when something tipped them over and they blew up.

It also talks about the opposite.

When people see the Million up on the board that is all they see. They justify their actions MANY times with the ol' "well I came with nothing" Yet they have just told the audience about how the money can make their lives change.

As for the money and prizes, you would have to pay taxes on the car the tickets and all that stuff. And the taxes you have to pay can be high. Once you get to a certain level it is about 48%.

Usually most game shows have an IRS person there to tell you immediately what you owe and how you can take care of it right away.

Trust me you win anything over a certain dollar amount the Government wants their cut. My wife used to have to sell Lottery Tickets when she worked for Kroger and if you won more than like $400 bucks you had to contact the lottery office and claim it on your taxes.

JTapp said...

Thanks for the tax insight, Brian Shannon. The Tipping Point is definitely on my reading list but I can't find a cheap unabridged audio version of it.