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Maryland Lottery Pick 4 drawing generates huge payout

Topic closed. 37 replies. Last post 6 years ago by Gleno.

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Litebets27's avatar - power
Maryland
United States
Member #10465
January 14, 2005
6065 Posts
Offline
Posted: March 1, 2011, 8:46 pm - IP Logged

Pennsylvania's Treasure Hunt had 1-2-3-4-5 as a draw last year.  I was looking through their history and saw it.  Although 1) This isn't a ball draw game - so make what you want of that 2) the game has a field of 30 numbers to pick from, so the odds aren't as astronical.  3) 49 people split the Jackpot, for like 1200 or 2500 dollars each or something.

 

BTW: As far as I know, you don't pay taxes on a lottery win that is less than $5000, if your state doesn't tax it.

Maryland lottery winners pay tax on winnings greater than $600.00. Believe me...it's not fun.

Feeling,  PRICELESS!!!Banana

Come on Jackpot!!!

    Boney526's avatar - NjlpLogo
    New Jersey
    United States
    Member #99032
    October 18, 2010
    1439 Posts
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    Posted: March 1, 2011, 9:35 pm - IP Logged

    Maryland lottery winners pay tax on winnings greater than $600.00. Believe me...it's not fun.

    Dang.  I hate that.  Lotteries shouldn't be taxed.  It's like saying, "Let's put a tax on property tax" so you have to pay your property taxes, and then an extra tax for paying your tax.

     

    Bleh, it's not like people care about common sense principled government.  They just want a million and a half social programs, and don't care how they're funded or how in-effecient they are.

      savagegoose's avatar - ProfilePho
      adelaide sa
      Australia
      Member #37136
      April 11, 2006
      3300 Posts
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      Posted: March 1, 2011, 11:19 pm - IP Logged

      yeah the odds of 12345 and your set coming out are the same.

      but are the odds the same for 100 people to play 2 14 23 27 33 on the same day in the same draw as 1 2 3 4 5 ?

      2014 = -1016; 2015= -1409; 2016 JAN = -106; FEB= -81; MAR= -131; APR= - 87: MAY= -91; JUN= -39; JUL=-134; AUG= -124; SEP = -123; OCT= -84  NOV=- 73 TOT= -3498

      keno historic = -2291 ; 2015= -603; 2016= JAN=-32, FEB= +12 , MAR= -86, APR = -77. MAY= -48, JUN= -29, JUL=-71; AUG = -52; SEPT= -43; OCT = +56 NOV = -33 TOT= -3297

        jarasan's avatar - new patrick.gif
        Harbinger
        D.C./MD.
        United States
        Member #44103
        July 30, 2006
        5583 Posts
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        Posted: March 2, 2011, 9:23 am - IP Logged

        The tax will be reported for 2011,  the winners will receive w2-Gs in the mail in a couple of weeks after claiming, hold on to it for next years taxes...................you can deduct gambling wagers 2011 up to the amount won on next year's tax return........................................save your losing tickets as receipts God forbid they audit you.

         

        ScaredTAX TIME!

          B$Rizzle's avatar - a4leds
          The Ville, FL
          United States
          Member #95879
          August 19, 2010
          1708 Posts
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          Posted: March 2, 2011, 10:22 am - IP Logged

          yeah the odds of 12345 and your set coming out are the same.

          but are the odds the same for 100 people to play 2 14 23 27 33 on the same day in the same draw as 1 2 3 4 5 ?

          Thats exactly the point I was making.

           

          Many of the people who pick the "easy" numbers such as 1-2-3-4-5 will end up splitting it with many people if it hits. If those same people just picked a different set (2-14-23-27-33) for example, they would be splitting it with many less people.

           

          That was my point. The odds are indeed the same across the board, but if you are going to play the same #s every day, why not pick a more unique set?

           

          Thats why they are not appealing to me

            Avatar
            Huntsville AL
            United States
            Member #16531
            June 1, 2005
            65 Posts
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            Posted: March 2, 2011, 10:58 pm - IP Logged

            What would the payout been if not capped?

              four4me's avatar - gate1
              MD
              United States
              Member #1701
              June 18, 2003
              8360 Posts
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              Posted: March 3, 2011, 12:48 am - IP Logged

              What would the payout been if not capped?

              payouts regardless of the cap are 5000.00 for a buck and  2500 for a 50 cent bet our pick 3 and 4 games are not parimutuel.

              Big John says. You don't hit the number. The number hits you!!!!

                             I'm not Big John, I'm Four4me, Big John's a friend.
                Gleno's avatar - Lottery-001.jpg
                New Jersey
                United States
                Member #80354
                September 25, 2009
                705 Posts
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                Posted: March 5, 2011, 9:06 am - IP Logged

                Maryland's pick four is not a paramutual type of game for it to have to pay out $7 Million.

                Thought all games were based on the amount of proceeds the game took in divided by the number of winning tickets sold. Learn something new everyday.