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Illinois Lucky Day Lotto EZ Match...and a question

Topic closed. 16 replies. Last post 2 years ago by Coin Toss.

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Coin Toss's avatar - shape barbed.jpg
Zeta Reticuli Star System
United States
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January 17, 2006
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Posted: May 14, 2012, 6:57 pm - IP Logged

Illinois has a new twist to Lucky Day Lotto (5/39).

(I'm putting this in Discussion because it's a payout and tax question, not a Pick 5 question, and a lot more people follow this forum.)

For another $1 you can play EZ Match and win up to $500 instantly.

The ticket looks something like this:

1  5  23   35  31  EZ Match YES

__________________________

EZ Match

6 - $5

12 - $10

21 - $1

31 - $500

33 - $10

If anyone of your numbers (the horizontal line) mat h an EZ Mztch number (vertical line) you win that prize.

So let's just say you won the EZ Match max, $500, and then when the regualr drawing results are in you hit 4 of 5 for $100. Since that's $600, would it be taxable? The rule is taxes on winning $600 or more, and you've spent $2 on the ticket, so in essence you've won $598.

I e-mailed Northstar about this and am waiting for a reply.

But what do you folks say?

Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

Lep

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

    rcbbuckeye's avatar - Lottery-043.jpg
    Texas
    United States
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    October 23, 2007
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    Posted: May 14, 2012, 7:55 pm - IP Logged

    When the lottery commission sends the paperwork to the IRS, I don't think they take how much you spent into account. They only look at how much you won. If it's $600 up to $5000, they send the info. Over $5000 and they take out 25% federal taxes and your state tax if applicable.

    CAN'T WIN IF YOU'RE NOT IN

    A DOLLAR AND A DREAM (OR $2)

      maximumfun's avatar - Lottery-064.jpg

      United States
      Member #124621
      March 16, 2012
      1492 Posts
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      Posted: May 14, 2012, 10:45 pm - IP Logged

      Illinois has a new twist to Lucky Day Lotto (5/39).

      (I'm putting this in Discussion because it's a payout and tax question, not a Pick 5 question, and a lot more people follow this forum.)

      For another $1 you can play EZ Match and win up to $500 instantly.

      The ticket looks something like this:

      1  5  23   35  31  EZ Match YES

      __________________________

      EZ Match

      6 - $5

      12 - $10

      21 - $1

      31 - $500

      33 - $10

      If anyone of your numbers (the horizontal line) mat h an EZ Mztch number (vertical line) you win that prize.

      So let's just say you won the EZ Match max, $500, and then when the regualr drawing results are in you hit 4 of 5 for $100. Since that's $600, would it be taxable? The rule is taxes on winning $600 or more, and you've spent $2 on the ticket, so in essence you've won $598.

      I e-mailed Northstar about this and am waiting for a reply.

      But what do you folks say?

      you will get taxed on the 600$ but you get to claim your losses up to the amount of your winners (at least that is what our accountant did for us).  so you will get to claim your 2$ (plus any other lottery losses) against the 600$ you won... netting you a taxable 598$ (or less if you have other losses).

      of course, mayhap your account is smarter/cleverer than ours.

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        westchester
        United States
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        Posted: May 14, 2012, 11:21 pm - IP Logged

        You will not get taxed on the $600 if you cash it in at a lottery retailer. In Illinois it's any

        prize over $600 ($601 and above) that you have to file a claim at one of the lotteries

        claim centers.

          weshar75's avatar - Lottery-042.jpg
          Mcminnville, Oregon
          United States
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          Posted: May 14, 2012, 11:31 pm - IP Logged

          You will not get taxed on the $600 if you cash it in at a lottery retailer. In Illinois it's any

          prize over $600 ($601 and above) that you have to file a claim at one of the lotteries

          claim centers.

          That is how it is here in Oregon too.  $600.01 and above in winnings to the lottery office.  Good luck!-weshar75

            Coin Toss's avatar - shape barbed.jpg
            Zeta Reticuli Star System
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            Posted: May 15, 2012, 5:19 pm - IP Logged

            Thanks for the replies everyone.

            This is the answer from the Illinois Lottery (Northstar):

            The best way is to cash it immediately, when you do that an exchange ticket will be produced that has your numbers on it for the actual drawing. 

            Good to know.

            Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

            Lep

            There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

              ILLotteryman's avatar - scenery water_mountains.jpg
              Chicago, IL
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              Posted: May 15, 2012, 8:55 pm - IP Logged

              I wonder how this EZmatch really works? Is it truly random? I don't really trust the computer putting the same numbers on the same ticket or does it come out as a separate ticket with your Lucky Day Lotto printout?

              ILLotteryMan Signing Out

              Major IL Lottery Winnings: 06/29/11 (784), 08/07/11 (678), 08/15/11 (056), 08/16/11 (759 Midday + 579 Evening), 08/22/11 (101), 08/26/11 (668), Instants: $50 Wheel of Fortune!

                Coin Toss's avatar - shape barbed.jpg
                Zeta Reticuli Star System
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                Posted: May 16, 2012, 1:05 am - IP Logged

                It's just like the example in the OP but I've yet to get a match.

                Your numbers

                2  15  17  21  29   EZ match YES

                EZ match

                1 - $5

                10 - $10

                14 -$500

                27 - $100

                30 - $1

                Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                Lep

                There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                  ILLotteryman's avatar - scenery water_mountains.jpg
                  Chicago, IL
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                  Posted: May 16, 2012, 9:47 am - IP Logged

                  Thanks Coin, do you know if the EZ Match prints on the same ticket or do you get two tickets?

                  ILLotteryMan Signing Out

                  Major IL Lottery Winnings: 06/29/11 (784), 08/07/11 (678), 08/15/11 (056), 08/16/11 (759 Midday + 579 Evening), 08/22/11 (101), 08/26/11 (668), Instants: $50 Wheel of Fortune!

                    Coin Toss's avatar - shape barbed.jpg
                    Zeta Reticuli Star System
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                    Posted: May 16, 2012, 5:31 pm - IP Logged

                    It's all on one ticket. It's like the longer tickets that come out of the machines.

                    You Lucky Dat Lotto numbrs go across the top horizontally and the EZ match numbers are under them, vertially.

                    I finally got a match today, #25, for a dollar but it 'ended the slump'.

                    Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                    Lep

                    There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                      ILLotteryman's avatar - scenery water_mountains.jpg
                      Chicago, IL
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                      Posted: May 16, 2012, 7:20 pm - IP Logged

                      Well, at least you won something. Thanks for the clarification. Have you bought any of the new Cubs/White Sox or St. Louis instant tickets? I wonder how many season passes they are really giving out...

                      ILLotteryMan Signing Out

                      Major IL Lottery Winnings: 06/29/11 (784), 08/07/11 (678), 08/15/11 (056), 08/16/11 (759 Midday + 579 Evening), 08/22/11 (101), 08/26/11 (668), Instants: $50 Wheel of Fortune!

                        Coin Toss's avatar - shape barbed.jpg
                        Zeta Reticuli Star System
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                        Posted: May 17, 2012, 12:37 am - IP Logged

                        The Cubs and Cardinal tickets have been out down here but today os the first time we've seen the White Sox ones.

                        I don't know how many season tickets they are really giving out, I think maybe it's a pair of season tickets for one winner.

                        The website says the World Series prize is two Getaway packages that include tickets to games 3 and 4, airfare, hotel, and spending cash.

                        You know, you have to wonder what Pete Rose would think of all this - barred from baseball for gamblinb and here Major League Baseball is oparticipating in lottery prozes - not to mention the casino signs in the stadiums.

                        Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                        Lep

                        There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                          ILLotteryman's avatar - scenery water_mountains.jpg
                          Chicago, IL
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                          Posted: May 22, 2012, 3:02 pm - IP Logged

                          That is very true CT about the MLB and Pete Rose comment. I didn't even think about that til you brought it up. Great point!

                          Thanks for the followup. I bought one Lucky Day $2 ticket with the bonus feature and I matched one number for $5 so that was nice. I cashed in the ticket right away and they gave me an exchange ticket for the lucky day numbers.

                          ILLotteryMan Signing Out

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                            Coin Toss's avatar - shape barbed.jpg
                            Zeta Reticuli Star System
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                            Posted: May 22, 2012, 6:07 pm - IP Logged

                            Good for you, ILLotteryman.

                            Yeah, Rose really got screwed all the way around. Put the guy in the Hall or take the casino signs down.

                            I played a LDL yesterday and knew it wouldn't win an EZmatch, first time I saw this, the prozes were $50, $100, $100, $500, $500.

                            I fill d out a slip for a LDL QP + EZmatch, and a set of numbers. I thought it would be $3 but the clerk ran it and said $1 - the scanner honed in on the QP and disregarded the other game.

                            Good Luck tonight, $400,000.

                            Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                            Lep

                            There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                              haymaker's avatar - Lottery-012.jpg
                              egg harbor twp.south jersey shore
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                              Posted: May 22, 2012, 8:03 pm - IP Logged

                              The Cubs and Cardinal tickets have been out down here but today os the first time we've seen the White Sox ones.

                              I don't know how many season tickets they are really giving out, I think maybe it's a pair of season tickets for one winner.

                              The website says the World Series prize is two Getaway packages that include tickets to games 3 and 4, airfare, hotel, and spending cash.

                              You know, you have to wonder what Pete Rose would think of all this - barred from baseball for gamblinb and here Major League Baseball is oparticipating in lottery prozes - not to mention the casino signs in the stadiums.

                              I will never visit cooperstown unless they admit Rose and apolgize for their hypocrycy.

                              Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.