Original Blog Entry: Big win random considerations

hypersoniq — Wed, 06 Aug 2025 14:51:08 GMT

Been awhile since I looked into what to do if there might ever be a big win.

Some things have stayed the same... top federal tax rate on a lottery win is 37%, but the IRS only requires your state lottery to withhold 24%. That means you will owe an additional 13%, but not on all winnings as the sliding tax rate applies until you hit that 37% THIS is a big reason they recommend a tax attorney to help with planning. You don't have what you think you have until the taxes are paid! Estimated tax payment is probably the best way to keep the success in a winner's story.

Pennsylvania also collects 3.07%, non sliding. Not sure if they withhold that before cutting the check or if you owe it later, like you do on a win over $600.01

CDARS, the system that allows you to hold a large amount in your bank account and have FDIC insurance on all of it still exists, only it now goes by the IntraFI Network.

No anonymous claims in PA, they still want to add to the chaos by painting a target on your back. Still first name, last initial, county of residence and amount won. This one always boggled the mind... the cash 5 is hit almost every night and I have lived in this state all 56 years of my life and NEVER met a winner, nor do I know anyone who has...

It is not looking good for needing to use any of the above info for this first run of the Cash 4 Life test (9 draws remain of 26), but it does only have to work once...

I still have yet to perfect the pick 3, so I will probably run out of time without a big win, but at least I can say I gave it my best shot and stayed within or under (periods of just not playing at all) budget while doing so. Of nothing else, I have proven to myself by constant exploration of ideas and rigorous back testing that random numbers can not be predicted, and learned a great deal about programming and statistics along the way. Still not throwing in the towel, but I DO have a realistic outlook... this will probably never work, but I will continue to try anyway because it is one of the cheapest hobbies I have.

Never hurts to dream a little though.... [ More ]