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Man buys wrong lottery ticket, wins $169 million

Topic closed. 65 replies. Last post 5 months ago by golfer1960.

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South Africa
Member #129822
June 28, 2012
363 Posts
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Posted: July 2, 2016, 4:41 pm - IP Logged

Nice one congrats

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    florida
    United States
    Member #98912
    October 16, 2010
    1274 Posts
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    Posted: July 2, 2016, 4:43 pm - IP Logged

    hurray for that brother in blue--congrats to my fellow staten islander also --it appears the NYPD just got another resignation --veryy good sgt viola --enjoy prosper god bless!!!!Party

      JackpotWanna's avatar - squiz

      United States
      Member #4121
      March 23, 2004
      817 Posts
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      Posted: July 2, 2016, 5:06 pm - IP Logged

      Wow! $1 ticket!!


        United States
        Member #172415
        January 23, 2016
        3795 Posts
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        Posted: July 2, 2016, 6:14 pm - IP Logged

        Hey in Lotto math, 3-8 are the same number "mirror" haha 

        8:33 Time 

        Date 8th... just saying... hehe

        9 = 4

        8 = 3

        7 = 2

        6 = 1

        5 = 0

        Nice observation

          Slick Nick's avatar - Lottery-035.jpg
          Rochester
          United States
          Member #103282
          January 1, 2011
          603 Posts
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          Posted: July 2, 2016, 6:47 pm - IP Logged

          I agree with Gator!Smash

          Money is a terrible master, but a great servant...Smile

            Kyle7824's avatar - Lottery-042.jpg
            Greenville, NC
            United States
            Member #157301
            July 14, 2014
            3393 Posts
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            Posted: July 2, 2016, 6:48 pm - IP Logged

            Nice observation

            Thanks

              xstreamgaming15's avatar - 41M8sCXM8YL _SY300_.jpg
              SoCal
              United States
              Member #170973
              December 25, 2015
              30 Posts
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              Posted: July 2, 2016, 9:55 pm - IP Logged

              Congrats to the Viola couple but did they really have to show a picture of the husband? like his life is in any less dangerious as a cop.

                TheMeatman2005's avatar - lightening
                Brooklyn, NY
                United States
                Member #169723
                October 29, 2015
                877 Posts
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                Posted: July 3, 2016, 1:25 am - IP Logged

                Congrats to the Viola couple but did they really have to show a picture of the husband? like his life is in any less dangerious as a cop.

                That could be the reason the lottery waited to announce the win.

                He put in for retirement and it takes a while for all the paperwork to go through.

                By now, he is probably no longer a police officer.

                The Meatman

                “The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

                Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

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                  orlando,fl
                  United States
                  Member #89879
                  April 17, 2010
                  132 Posts
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                  Posted: July 3, 2016, 3:22 am - IP Logged

                  Can some explain the math of a $169 million dollar win to less than $64 million after taxes. That's less than half. Thanks

                    mypiemaster's avatar - 2015021003pileofcash
                    JACKPOT HUNTER

                    United States
                    Member #141034
                    April 2, 2013
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                    Posted: July 3, 2016, 3:39 am - IP Logged

                    Can some explain the math of a $169 million dollar win to less than $64 million after taxes. That's less than half. Thanks

                    $169 million is the value based on a 30-year annuity for megamillions if you choose to get paid over 30 years.. The actual cash value is a lot less if you choose the lump sum payment.They chose to receive the prize as a one-time lump sum payment of $64,796,160. Today, at the time of this post, Mega Millions is $449 million 30-year annuity, the cash value is only $313.3 million if you take one-time lump sum cash. Hope that makes it a little clearer for you. Remember 25% fed taxes and some portion of state taxes{if applicable} are also withheld before you see a dime of that money, then you go home and figure out what you owe come April 15. LOTTERY WINS SHOULD NEVER BE TAXED!!!.

                    Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                    Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

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                      orlando,fl
                      United States
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                      April 17, 2010
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                      Posted: July 3, 2016, 3:58 am - IP Logged

                      Wow I didn't know that. I guess I would want to take 30 year annuinty to make sure I get all "my money" lol. So you have to pay taxes on your win every year as well? Time to figure out how those celebrities and 1% beat paying out their tax each year.

                        mypiemaster's avatar - 2015021003pileofcash
                        JACKPOT HUNTER

                        United States
                        Member #141034
                        April 2, 2013
                        1408 Posts
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                        Posted: July 3, 2016, 4:06 am - IP Logged

                        Wow I didn't know that. I guess I would want to take 30 year annuinty to make sure I get all "my money" lol. So you have to pay taxes on your win every year as well? Time to figure out how those celebrities and 1% beat paying out their tax each year.

                        Yes, every year. It is sad that we are the only advanced nation that taxes lottery wins. Some idiots have said before, "If you don't like it, don't play".

                        Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                        Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

                          Kingofearth's avatar - Kinnak
                          Upstate NY
                          United States
                          Member #174656
                          May 5, 2016
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                          Posted: July 3, 2016, 4:07 am - IP Logged

                          $169 million is the value based on a 30-year annuity for megamillions if you choose to get paid over 30 years.. The actual cash value is a lot less if you choose the lump sum payment.They chose to receive the prize as a one-time lump sum payment of $64,796,160. Today, at the time of this post, Mega Millions is $449 million 30-year annuity, the cash value is only $313.3 million if you take one-time lump sum cash. Hope that makes it a little clearer for you. Remember 25% fed taxes and some portion of state taxes{if applicable} are also withheld before you see a dime of that money, then you go home and figure out what you owe come April 15. LOTTERY WINS SHOULD NEVER BE TAXED!!!.

                          Yes state taxes are applicable in this case, to the tune of 8.82% State and 3.5ish% City. 

                          An emergency room doctor saves  your life: His income is taxed

                          A soldier risks his life in the deserts of Iraq: His income is taxed

                          A food bank worker spends long hours helping people in need: Her income is taxed

                          You spend 5 minutes of your day off the sofa to get some tickets for a game of chance and happen to  win big: Tax free?

                          We need to have a flat national rate of 50%. If you live in Texas then it's 50% Federal, 0% State, If you live in Buffalo (NY) then it's 41.18% Federal, 8.82% State etc etc. That way all you need is the cash value and you'll instantly know how much you'll get.   

                            Kingofearth's avatar - Kinnak
                            Upstate NY
                            United States
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                            May 5, 2016
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                            Posted: July 3, 2016, 4:12 am - IP Logged

                            Yes, every year. It is sad that we are the only advanced nation that taxes lottery wins. Some idiots have said before, "If you don't like it, don't play".

                            WRONG

                            Only 9 countries give it tax free (Australia, Canada, Finland, Germany, Ireland, Italy, Liechentstein, New Zealand, and the UK).   

                              MaximumMillions's avatar - Lottery-013.jpg

                              Germany
                              Member #164603
                              March 8, 2015
                              607 Posts
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                              Posted: July 3, 2016, 4:33 am - IP Logged

                              WRONG

                              Only 9 countries give it tax free (Australia, Canada, Finland, Germany, Ireland, Italy, Liechentstein, New Zealand, and the UK).   

                              +Austria, Poland, Hungary, Czech republic, Denmark, Sweden, Norway, Iceland, Ireland, Netherlands, Belgium, Luxemburg, Malta, Gibraltar, Hong Kong, China, Japan, Taiwan...