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Record $1.6 billion Powerball jackpot won by 3 tickets

Topic closed. 182 replies. Last post 11 months ago by sirbrad.

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Gleno's avatar - Lottery-001.jpg
New Jersey
United States
Member #80354
September 25, 2009
705 Posts
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Posted: January 15, 2016, 8:01 am - IP Logged

NJ had two winners in the January 13 Power Ball Game.

One $1M in Middlesex Co. and one $2M in Burlington Co., Westampton NJ

The $2M ticket was sold at a WAWA on Springside Rd Westampton, N.J. with the power play option.

    sully16's avatar - sharan
    Ringleader
    Michigan
    United States
    Member #81740
    October 28, 2009
    40293 Posts
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    Posted: January 15, 2016, 8:07 am - IP Logged

    Congrats to all the lucky winners, enjoy!

    Did you exchange a walk on part in the war ?

    For a lead role in a cage?

     

                                                From Pink Floyd's " Wish you were here"

      unseen's avatar - 4eyes
      louisville, Ky
      United States
      Member #4928
      June 3, 2004
      142 Posts
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      Posted: January 15, 2016, 10:06 am - IP Logged

      On a "what were they thinking note"  a 270 member group from Florida bought about $140,000 (each member chipping in about $500)  worth of tickets and saw a return of hardly nothing.

        Avatar
        NEW YORK
        United States
        Member #90535
        April 29, 2010
        11975 Posts
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        Posted: January 15, 2016, 10:35 am - IP Logged

        $2 INVESTMENT TURNED INTO $1.6 BILLION?

        US Flag

        PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

          haymaker's avatar - Lottery-012.jpg
          Egg Harbor twp.south Jersey shore
          United States
          Member #112968
          June 29, 2011
          3854 Posts
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          Posted: January 15, 2016, 11:51 am - IP Logged

          Would you help me understand something:


          New Jersey Lotto tax is said to be just 3%.

          OK, first the Fed tax 39%, (which is 25% + the rest)

          So, does this 3% agree with what you've calculated?

          If not, why not?

          3% is just withholding, rate is 10.8 % the highest in the country.

          Nobody beats Jersey when it comes to  robbing their citizens !

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

            sirbrad's avatar - Lottery-062.jpg
            PA
            United States
            Member #22983
            October 6, 2005
            2226 Posts
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            Posted: January 15, 2016, 11:55 am - IP Logged

            Guys, play a couple lines and hope for the best.  The reset is 40 million with a cash value of 24.8 million

            so even after taxes it's enough to set one up for life.  $15 million is still a lot full of money, if you need

            more than that then I think you have good reason to be depressed.

            RL

            That is the not the problem or how much was spent, but all the hype and buzz if wanting to win the first billion dollar jackpot. I got used to not winning the regular jackpots long ago but this one was a lot more exciting. I am talking about when the jackpot gets enormous like this one, or several hundred million and everyone on here is posting and exciting about winning it then it ends as is usually does with no one on here winning it. I was disappointed bt not depressed as I said I got used to it long ago. I still win smaller games. But the big jackpot is what I truly need. I was more depressed recently when I missed the Cash 5 by one number and matched 4 out of 5. Would have had $1.6 million but instead got $220. I won something though but certainly not the same feeling. Just like matching all 5 for $1,000,000 would be great bit no way would it be the same as hitting them all for over a billion. Those winners will always be thinking of that as that is a DRASTIC difference between one ball. The rest of their lives they will always think about "if only I matched the powerball. That is worse yet as they beat high odds only to miss the powerball.

              Avatar
              Wyomissing, PA
              United States
              Member #161050
              November 15, 2014
              301 Posts
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              Posted: January 15, 2016, 12:03 pm - IP Logged

              .

              No, I'm talking about the tax rate on jackpot analysis, on usamega.com.

              On the page, where it lists states like Florida, and California at 0% tax rate.

              How do the tax rates on that page figure into the total tax.

              If there's no cut/dried answer, it's like I've figured about asking 10 different people about the tax issue, and getting 10 different answers.

              Or is usamega.com in error?   I figure they can't be since others agree that Florida, California and a few other states are at 0% lotto-tax rate.

              If so, then what's worse, is that the IRS is happy with whichever answer when filing taxes.

              Lotteries withhold 25% federal tax immediately along with state tax (and even city tax in some instances), if any. However, that's simply withholding much like how employers withhold taxes from one's paycheck. The actual tax due isn't determined until the winner files their taxes. If the winner simply declares the winnings as straight income, the total tax due is relatively simple to figure out. The highest earned federal income tax rate is 39.6%, so the winner will owe the IRS up to an additional ~14.6% at tax filing time.

              To reiterate, the 25% federal tax withheld immediately by the lottery is most often not sufficient, since the highest earned income tax bracket is 39.6%. The winner will owe additional tax, and hence, that confusion that can result from relying on the USA Mega page... Yes, the details are explained at the bottom, but it's a convoluted way of showing it. A better approach would the USA Mega page showing the max tax rate the winner could end up paying, since that's likely to more match reality.

              In a nutshell, most winners will pay between 35% to 50% in tax depending on whether their home state levies tax on lottery winnings and how they accept / utilize the money. There is no simple, exact answer on what a winner will pay in tax, since it depends on their individual circumstances, but there is a relatively firm answer on the maximum amount a winner could pay.

                sirbrad's avatar - Lottery-062.jpg
                PA
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                Member #22983
                October 6, 2005
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                Posted: January 15, 2016, 12:12 pm - IP Logged

                Also you got people trying to get their money back with gofundme LOL. I would never spend that much anyone who does that should not be gambling. https://www.lotterypost.com/thread/298448

                With jackpot games it is expected that you will lose most of the time regardless how many tickets that you get, and how much you spend. So the smart way is only to get a few or what you can afford. I only played about $10.00 total for this one spread out on 4 draws.

                  sirbrad's avatar - Lottery-062.jpg
                  PA
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                  October 6, 2005
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                  Posted: January 15, 2016, 3:18 pm - IP Logged

                  Not sure if this has been confirmed, but....

                  "A Pomona nurse who won the record-breaking Powerball jackpot was given a ticket by her boss. The 62-year-old woman is a senior registered nurse at Park Avenue Health Care and Wellness Center in Pomona, according to a spokesperson for nursing home owner Shlomo RechnitzRechnitz bought 18,000 tickets for his employees and residents at 80 nursing homes across California. Rechnitz sent 600 tickets by mail to the Park Avenue Health Care and Wellness Center."

                  It also states she has 7 children of which 6 are also Nurses.

                  What a great story and Congrats to them if this is true! Won't take long, by tomorrow we'll know who she is.

                  Wow if that is true not only did she beat the odds but she had to beat the odds of getting the ticket out of those 18,000 tickets. Not only that but she got it for FREE. Now that is some LUCK! LOL Not sure I believe that one.

                    sirbrad's avatar - Lottery-062.jpg
                    PA
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                    October 6, 2005
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                    Posted: January 15, 2016, 3:47 pm - IP Logged

                    ... so ill assume with that... it was a QP ... ?

                    Of course. http://www.today.com/news/powerball-winners-tennessee-couple-claims-they-won-jackpot-today-show-t67276

                      Saylorgirl's avatar - Lottery-065.jpg
                      Indiana
                      United States
                      Member #129225
                      June 13, 2012
                      546 Posts
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                      Posted: January 15, 2016, 3:49 pm - IP Logged

                      Wow if that is true not only did she beat the odds but she had to beat the odds of getting the ticket out of those 18,000 tickets. Not only that but she got it for FREE. Now that is some LUCK! LOL Not sure I believe that one.

                      It was a hoax, a prank played on her by her Son.   I am sure she is not laughing!

                        Saylorgirl's avatar - Lottery-065.jpg
                        Indiana
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                        Member #129225
                        June 13, 2012
                        546 Posts
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                        Posted: January 15, 2016, 3:57 pm - IP Logged

                        It is official the Tennessee couple from the Today Show is the winner!  Congratulations to John and Lisa Robinson!

                          sirbrad's avatar - Lottery-062.jpg
                          PA
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                          October 6, 2005
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                          Posted: January 15, 2016, 4:06 pm - IP Logged
                            ressuccess's avatar - Lottery-043.jpg

                            United States
                            Member #93164
                            June 23, 2010
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                            Posted: January 15, 2016, 4:32 pm - IP Logged

                            Congratulations to the winners. I hope the winners step forward. I know the pick is a California Super Lotto Plus pick.

                              sirbrad's avatar - Lottery-062.jpg
                              PA
                              United States
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                              October 6, 2005
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                              Posted: January 15, 2016, 5:05 pm - IP Logged

                              We had a group of 71 teachers, administrators and staffers from our local school hit 4+1. They get $700 each before taxes and had 9 instead of 19. Not sure how they'll split that up.

                              Wow so you were 1 white ball away from the jackpot? That would suck lol. 71 split would be no picnic either but a good amount. Or I guess plus the 3 others would be a 74 split for about $21,621,621 each before taxes on the full $1.6 billion annuity. Still would have been a great amount. Cash would be amount $13,000,000 each I think.

                                 
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