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$310 MILLION: Powerball lottery jackpot in rare territory

Topic closed. 165 replies. Last post 5 years ago by Todd.

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surimaribo24's avatar - photo11 zpsfffd70be.jpg
NEW YORK. RIVERHEAD
United States
Member #106371
February 17, 2011
9704 Posts
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Posted: February 9, 2012, 11:02 am - IP Logged

would be nice if it reach to close to a billion dollars jackpot.. would be record breaking and exciting  ..what are the chances and posibilitys on that ??

PETS#=105-215


    Bahamas
    Member #114685
    August 5, 2011
    422 Posts
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    Posted: February 9, 2012, 11:02 am - IP Logged

    I guess you think the lottery is rigged then.  You are certainly entitled to that opinion.  I just don't think there's any evidence for it.

    Sure, the jackpot could be won in any of those states.  You included several states on your list, and accumulatively I'm sure the players in those states will purchase quite a few tickets so they have a good shot at winning.  But any player in any state has an equally good chance of winning, so I'm not sure what it proves. 

    The funny thing is that there are just as many conspiracy-minded people who say that when someone in a big state like New York wins, that's the lottery controlling where it is won.  But you say that when a jackpot is not won in a big state, then that's the lottery controlling it.  So no matter what happens, I guess the lottery is controlling it, and a cinspiracy exists.  Whatever.

    The QUACKS are losing credibility

    "Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"

      Cletu$2's avatar - Lottery-050.jpg
      S.E.Iowa
      United States
      Member #120504
      December 21, 2011
      534 Posts
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      Posted: February 9, 2012, 11:11 am - IP Logged

      I had 17, but as the Powerball number.

      I had 17,too.But the other five numbers eluded me.

      When I was a boy I was told that anybody could become President; I'm beginning to believe it. ~Clarence Darrow

      There ought to be one day - just one - when there is open season on senators. ~Will Rogers

        dk1421's avatar - Lottery-024.jpg
        North Carolina
        United States
        Member #64582
        September 1, 2008
        347 Posts
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        Posted: February 9, 2012, 11:25 am - IP Logged

        There should be a "Like" button for comments!!!!

        LOVE it, mcginnin56!!!!

        "Don't be a schmuck, always take the cash." -Coin Toss


          United States
          Member #111442
          May 25, 2011
          6323 Posts
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          Posted: February 9, 2012, 11:39 am - IP Logged

          There should be a "Like" button for comments!!!!

          LOVE it, mcginnin56!!!!

          Thank you so much dk1421; hey I like that number! Lovies I'll play that as one of my pick 4's this evening. (A straight pick only, need that $5K)    Hyper

            dpoly1's avatar - driver
            PA
            United States
            Member #66141
            October 16, 2008
            1672 Posts
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            Posted: February 9, 2012, 11:45 am - IP Logged

            As usual dpoly you did your math. Almost $20 Million for state taxes though....OUCH!!! Still sounds good however. Enjoy.    Hyper

            Not in Pennsylvania!

            No State or Local Taxes on Lottery winnings!

            Dance

            $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

            In Pennsylvania, only name & town are required, no pics and press conference are required ....................

              HoLeeKau's avatar - YheaShea
              Idaho
              United States
              Member #94283
              July 17, 2010
              2284 Posts
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              Posted: February 9, 2012, 11:59 am - IP Logged

              Well, at least I picked the powerball (33)  Yes Nod    I had one other number also (17).  Bummer that I didn't have more.

              I had 39 and 33 and am majorly ticked that the prize is the same as matching just the PB that I got for the last draw.  I hate this!


                United States
                Member #111442
                May 25, 2011
                6323 Posts
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                Posted: February 9, 2012, 12:00 pm - IP Logged

                Not in Pennsylvania!

                No State or Local Taxes on Lottery winnings!

                Dance

                $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

                In Pennsylvania, only name & town are required, no pics and press conference are required ....................

                Hey dpoly1, are you refering to the new jackpot of $310 Million? By the way I stand corrected, you are absolutely right, their is no state tax in PA. The reason I was thrown off is by your math.

                If the jackpot is won at the pressent $310 Million, the lump sum would be $193,400,00.00. Without state tax, the only deduction would be the standard federal 25% or $48,350,000.00. That should be coming up with $145, 050,000.00 (correct?)

                  Avatar
                  Orlando, FL
                  United States
                  Member #115785
                  August 28, 2011
                  259 Posts
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                  Posted: February 9, 2012, 12:02 pm - IP Logged

                  Nobody is buying FL Lotto, the jackpot went from 2 million to 3 million. Very Weak Sales.

                    dpoly1's avatar - driver
                    PA
                    United States
                    Member #66141
                    October 16, 2008
                    1672 Posts
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                    Posted: February 9, 2012, 12:03 pm - IP Logged

                    Hey dpoly1, are you refering to the new jackpot of $310 Million? By the way I stand corrected, you are absolutely right, their is no state tax in PA. The reason I was thrown off is by your math.

                    If the jackpot is won at the pressent $310 Million, the lump sum would be $193,400,00.00. Without state tax, the only deduction would be the standard federal 25% or $48,350,000.00. That should be coming up with $145, 050,000.00 (correct?)

                    You are correct. But unless you mitigate your tax burden, you are responsible for the highest tax rate of 35% at the end of the year.

                    Thumbs Up

                      Avatar
                      Orlando, FL
                      United States
                      Member #115785
                      August 28, 2011
                      259 Posts
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                      Posted: February 9, 2012, 12:04 pm - IP Logged

                      Not sure what you mean by the "wrong demographic".  The lottery is random, so everyone has an equal chance of winning, no matter where they live. 

                      A state or a store does not win the lottery, people do.  I will never understand the obsession with a particular "state" winning the jackpot, other than it being fun to see someone close to home win it.  Saying that a particular "state" won to support the notion that the lottery somehow controls who wins is the same as saying that the lottery is rigged.  And that is not supported by a shred of evidence.

                      Since lots of jackpots are won in liquor stores, does that mean the "drunk demographic" is targeted by the lottery to win a lot?  Or does it mean that a lot of lottery tickets happen to be sold in liquor stores?  What about the jackpot that was sold in the porn shop?  Did the lottery decide that they needed a winner from the "porn demographic"?

                      LOL! Todd! Good points!

                        Avatar
                        Orlando, FL
                        United States
                        Member #115785
                        August 28, 2011
                        259 Posts
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                        Posted: February 9, 2012, 12:06 pm - IP Logged

                        Really starting to believe that it's rigged...I mean come on people:

                         

                        Mega Millions Winning Numbers 2/7/2012   17-23-30-37-45 (04)

                        Powerball Winning Numbers 2/8/2012        17-28-38-39-51  (33)

                         

                        The number schemes are nearly identical! What are the odds that two separate lotteries with different numbers picks & crazy odds draw almost the same identical number pattern on consecutive days?! A: ASTRONOMICAL!!!!! But I'm sure they will LET someone win when it reaches at least a $400m advertised annuity! That's why I haven't spent a dime in this run yet!!!

                        Target is now running a special on new glasses. Perhaps you should pay them a visit.

                          Avatar
                          Fantasy Land
                          United States
                          Member #7297
                          September 29, 2004
                          80 Posts
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                          Posted: February 9, 2012, 12:08 pm - IP Logged

                          Hey dpoly1, are you refering to the new jackpot of $310 Million? By the way I stand corrected, you are absolutely right, their is no state tax in PA. The reason I was thrown off is by your math.

                          If the jackpot is won at the pressent $310 Million, the lump sum would be $193,400,00.00. Without state tax, the only deduction would be the standard federal 25% or $48,350,000.00. That should be coming up with $145, 050,000.00 (correct?)

                          That is the withholding. Come tax day 2013 you'd owe Uncle Sam another $19.34 million more or less, depending on your tax situation (charity and other deductions could reduce your taxable income).

                           

                          But until tax day (14 months away) you'll have that additional 20 million to do something with and earn some income off of.

                            LottoGuyBC's avatar - Lottery-050.jpg
                            British Columbia
                            Canada
                            Member #116101
                            September 4, 2011
                            4033 Posts
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                            Posted: February 9, 2012, 12:12 pm - IP Logged

                            Big Big BigWhite Bounce

                            "You have to be in it to win it!"


                              United States
                              Member #111442
                              May 25, 2011
                              6323 Posts
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                              Posted: February 9, 2012, 12:16 pm - IP Logged

                              You are correct. But unless you mitigate your tax burden, you are responsible for the highest tax rate of 35% at the end of the year.

                              Thumbs Up

                              You are a scholar, I am a fool.    Jester

                                 
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