Anyone else thinking of Euromillions?

Reply #50

JAG331 — Wed, 18 Jan 2006 14:40:14 GMT

Thanks for the rundown, Prob.

Reply #49

fxsterling — Mon, 16 Jan 2006 22:49:57 GMT

I CAN WIN got a ticket , it's over 150 million that will get the lawyers to line up and in power ball $$'s its about 400 million with 15% odds

Reply #48

Tx_Mega_Player — Mon, 16 Jan 2006 14:53:35 GMT

Quote: Originally posted by dvdiva on January 9, 2006 On the issue of tax, I'm pretty sure it would not be taxed in the US as long as the money stays out of the US. I don't know if corporations or trusts can claim tickets in the UK or not. I do know that if the winner is from the UK then they get to meet with some advisors as part of the win. You would have to consult an international tax advisor here in the states.Any transfer of money, even on a debit card, could be a big problem if it's not d... [ More ]

Reply #47

ALX — Sat, 14 Jan 2006 22:16:18 GMT

Once again, thank you for a some very enlightening thoughts. I don't play Euromillions either for much the same reasons. I do like the odds and prizes better than our US lotteries, especially the two low number bonus balls, so it has some expectation value for me because it seems more realistic than other lotteries. If I lived in Europe I would be hooked, I'm sure. Thank you. alx

Reply #46

Prob988 — Sat, 14 Jan 2006 03:27:10 GMT

No, I don't play Euromillions, because the expectation value, the value of the prize per dollar played, is lower, as one has to pay fees. I choose my plays by expectation value, pretax. Determining expectation values was why I originally began using the poisson distribution I post in my two probability threads. Later, for interest, I began to develop some schemes for determining the likelihood of large jackpots. This helps me to plan my purchases better.I also don't like to trust third parti... [ More ]

Reply #45

shalini — Sat, 14 Jan 2006 01:51:01 GMT

good morning...its rolled over..didn't get a required match..its about 80 million pounds now..TAX FREE

Reply #44

ALX — Sat, 14 Jan 2006 01:46:14 GMT

Thank you Prob988. I like your well informed take on all of these subjects and agree with you. I think that any income you make as a US citizen is taxable but I would love to believe it wasn't if you kept out of the US. Of course, if I won 125 million I'm sure I could find and afford a clever tax lawyer to conserve more than less. Do you play EuroMillions and if so do you have a system? Thanks again for the insights, alx

Reply #43

Prob988 — Sat, 14 Jan 2006 01:02:42 GMT

Yes.The origin of the concept of unlucky thirteen is a Christian concept, based on the presence of 13 diners at the Last Supper.Friday is also considered unlucky because it was said to be the day of The Crucifixion. Thus the conception of Friday the Thirteenth as an unlucky day has European origins.Thirteen was considered a lucky number in other cultures, including the Mayan culture. Many numerologists - numerology being a mystical approach to numbers - discovered concepts that would be impor... [ More ]

Reply #42

Sherwin — Fri, 13 Jan 2006 14:58:46 GMT

Well, if it does we'll be looking at a nice rollover for next week.

Reply #41

JAG331 — Fri, 13 Jan 2006 14:50:57 GMT

Drawing in six hours! Maybe someone will always remember they won the jackpot today! Does Friday the 13th carry the same stigma in Europe

Reply #40

fxsterling — Mon, 09 Jan 2006 16:04:49 GMT

PROB 998 WHATS THE ODDS of a roll over and winner the irs who cares my party would last years across the pond and it would be sir fx

Reply #39

JAG331 — Mon, 09 Jan 2006 14:48:20 GMT

$123 million for Friday the 13th!Lucky to have a rollover last Friday with 2-6-9-14-26 / 4-5Get your tickets now

Reply #38

dvdiva — Mon, 09 Jan 2006 08:39:53 GMT

On the issue of tax, I'm pretty sure it would not be taxed in the US as long as the money stays out of the US. I don't know if corporations or trusts can claim tickets in the UK or not. I do know that if the winner is from the UK then they get to meet with some advisors as part of the win. You would have to consult an international tax advisor here in the states.Any transfer of money, even on a debit card, could be a big problem if it's not declared as income to the IRS if you spend it here. It... [ More ]

Reply #37

Prob988 — Mon, 09 Jan 2006 01:07:06 GMT

Of course, if one attempts to conceal income from the IRS, the technical word for that is tax evasion. People go to prison for tax evasion, but you are right, anyone is free to risk ignoring the laws. Assuming one is not caught evading the law, one may profit by doing so. I suppose that many criminals are not ever caught and do indeed avoid paying a price for their crimes.Of course an American who wins the Euromillions is not likely to be an international secret. The IRS might find out. The... [ More ]

Reply #36

fxsterling — Sun, 08 Jan 2006 22:58:07 GMT

time for new math add all big us lottos find the cash sum and euromillions is still bigger i've got my passport ready

Reply #35

Think — Fri, 06 Jan 2006 03:23:01 GMT

OK, to clarify the advertised Mega Millions jackpot is 15,000,000The guestimate on the Ohio page isMega Millions Cash Option Value:$8,949,8858,949,885 * .611 = 5,468,379 after tax cash5,468,379/15,000,000 = .3645586350,000,000 * .3645586 = 127,595,510euromillions cash = 100,110,000100,110,000 * .611 = 61,167,210 after tax61,167,210/.3645586 = 167,784,30115,000,000 * .3645586 = 5,468,379167,784,301 * .3645586 = 61,167,210 = (100,110,000 * .611 = 61,167,210 )Follow

Reply #34

fxsterling — Thu, 05 Jan 2006 21:26:22 GMT

euro is still the big one this week it will take pb or mm weeks to get to this euromillions size also you can set up a blind trust to pick up the cash $20 is about what most people would spend if it was a 300 million pb jackpot

Reply #33

Todd — Thu, 05 Jan 2006 18:21:00 GMT

That was a very good analysis, anonymous77.

Reply #32

anonymous77 — Thu, 05 Jan 2006 17:44:35 GMT

Todd points out the amount of MM/PB jackpot which might be comparable to that of the current Euro Millions, and Think talks about those figures in Todd s post recalculated as after-tax cash, suggesting that at that figure MM might be more attractive. I agree with each of both Todd and Think, to a certain extent. Honestly, I think that two are standing not so far from each other as they might look.First of all, Think s multiplier number (~.35=cash value ratio multiplied by (1-tax rate)) is very c... [ More ]

Reply #31

TheGameGrl — Thu, 05 Jan 2006 01:38:30 GMT

It took a few re-reads to finally see the true humor in baristaexpress post. Thanks for that laugh!Seriously....Stick with a tax advisor and financial expert for advice on overseas lottery win procedures.Best to all who have their tickets for this lottery draw

Reply #30

Think — Wed, 04 Jan 2006 03:30:56 GMT

Actually that .36 multiplier is for figuring the approximate after tax take home cash in Michigan if you don't live in a Mich city that collects income tax.I have measured that multiplier and it has been as high as .384 depending on interest rates. Now it is somewhere in the .34 to .36 range. That is calculated by going to the official Ohio lottery web sight and multiplying the guestimated cash amount by the .611 take home percent. The .611 is reached by taking the max fed rate of .35 and add... [ More ]

Reply #29

Think — Wed, 04 Jan 2006 03:15:01 GMT

Thanks for the good laugh BaristaExpress!I should point out that the smart thing to do is to hire somebody who knows the tax law (aka lawyer). Then MAYBE you can not pay taxes on some or all of it!If you want to sneak and hide and have that weight on your shoulders then go for it if it is really worth spending the rest of your life in jail for major tax evasion charges!You say -- So if you don't use the money to live on while in the US it can't be called income, now can it? I say read the tax c... [ More ]

Reply #28

konane — Tue, 03 Jan 2006 19:39:08 GMT

Shalini, the terms you read may be very much like Mega Millions and Powerball rules in the US.We have Mega Millions in Georgia but if I were to go to California, purchase a MM ticket there which was a winner, then I would have to claim that winning ticket in California even if it meant making a special trip that far if required to claim it in person. You have to make your claim through the lottery in the state where the ticket was purchased.Hope you hit really big if playing this draw

Reply #27

Todd — Tue, 03 Jan 2006 19:13:19 GMT

That's approximately amount you'd get from the lottery. You'd owe a lot more taxes after that, but I guess you'd discover that after you win!If you're trying to say that my estimate was off, I supposed it could be off by a little, but arguing that point is not very worthwhile, because you're missing the forest for the trees.I also disagree that it would be tricky to leave the money offshore.

Reply #26

fxsterling — Tue, 03 Jan 2006 19:00:56 GMT

the odds seem better with eurocash and with mm at 12 mill why not go after the big cash i've done well on line and trust prime time if you win who cares where you pick up the cash and as for the irs thats what lawyers are for go to ny and you will find people with big condo and are'nt from the us i can get a car on my mastercard /visa you can get around anything

Reply #25

fxsterling — Tue, 03 Jan 2006 18:40:04 GMT

if you come though Texas the irs will not see you

Reply #24

BaristaExpress — Tue, 03 Jan 2006 16:30:45 GMT

Now Think, You got to be kidding me right? How in Gods name is the IRS going to know anything about any US citizen winning the lottery in another country? (This I'd like to know, that is if you have any answer that would amount to a pile of salt) The IRS isn't going to know not a thing, unless the winner opens their mouth or tries to bring the money into the US without declaring it when going through customs! Only a dummy/idiot would do something like that! The smart thing to do is to leave it o... [ More ]

Reply #23

Think — Tue, 03 Jan 2006 15:09:17 GMT

Oh, I suppose I should have pointed out 350,000,000*.36=126,000,000 370,000,000*.36=133,000,000 That is about the equiv MM Cash in MI

Reply #22

Think — Tue, 03 Jan 2006 14:58:47 GMT

In Michigan 100,110,000/.611=163,846,153 or for a guestimate100,110,000/.36= about 278,000,000 mega millions jackpotAs far as not being taxed on any money not brought into the US that is tricky and I think the IRS would disagree with you (maybe they would have no disagreement with your lawyers

Reply #21

shalini — Tue, 03 Jan 2006 12:45:05 GMT

white flag Todd

Reply #20

Todd — Tue, 03 Jan 2006 11:18:56 GMT

As you have discovered, those are not the rules of Euro Millions, which is why I made that remark. You should be careful when making general statements that contradict the general consensus, as there is no reason to get people all wound up for no reason. I'm not saying to not put an idea out there, but maybe you could have suggested the possibility that someone would need to be a resident, instead of stating it like it was a fact (which it wasn't). I apologize if you took offense at my remark... [ More ]

Reply #19

dvdiva — Tue, 03 Jan 2006 08:53:36 GMT

I agree but a ticket if you were in the UK tickets are $2.60 each plus the price of flying over there.best site I have found for past draw info is this : google for national-lottery uk resultshistory then click on first item and select euromillions. at the current jackpot level it looks like it grows around 10 million pounds per draw. I'm not getting tickets this time but definitly get them very early next time as I'm sure they will close sales early due to to interest in this game now.You can c... [ More ]

Reply #18

fxsterling — Tue, 03 Jan 2006 06:10:34 GMT

I FOUND a sight that said that also it seemed real but it was a fake i' m playing now last week i got a small win it's over a 100 million cash or 300+ mm or pb size

Reply #17

shalini — Tue, 03 Jan 2006 06:07:08 GMT

Thats it. To play online that must be the rule. I play it online most of the year except when in the UK. I am definitely quite stupid. Never mind. Apologies to anyone I needed to apologise to.

Reply #16

shalini — Tue, 03 Jan 2006 06:05:08 GMT

hi anonymous. I know I read it. I will just have to look harder. I somehow remember it because I love playing lottos everywhere and therefore end up reading the rules that go along. Maybe I mistook it and it was for another lotto. I will have to look. Thank you for your input.

Reply #15

shalini — Tue, 03 Jan 2006 06:02:00 GMT

Fraserm, I can't find the same site. However, another says that anyone can play, above 18, but would have to go the country where you bought the ticket. In that case, unless I can substantiate my earlier statement, I think I owe Todd an apology for getting defensive. However, I do remember reading it...try www.euro-millionslottery or the national lottery home. Go to google.co.uk and then type the national lotto. You'll get online to play the games. I'm going to try and find that site. I know I r... [ More ]

Reply #14

anonymous77 — Tue, 03 Jan 2006 05:58:48 GMT

Shalini,Your remark sounds very interesting to me. Does that imply, for example, that an international tourist can not claim the prize, if won, in his/her name even with a proper identification such as passport? Or, is that limited only to online play through UK National-Lottery online account? (As I understand it, online plays are open generally to those residents of UK only.)I am asking this because, just having read the so comprehensive Terms and Conditions of the UK National-Lottery, I faile... [ More ]

Reply #13

shalini — Tue, 03 Jan 2006 05:43:56 GMT

I'm trying to locate the site I read it on. Give me a few minutes to find it and get back to you guys. I know I didn't imagine this info. I did read it somewhere. I play it through the national lotto site but I don't think I read the rule there. I'll just get back to you.

Reply #12

Fraserm — Tue, 03 Jan 2006 05:38:20 GMT

What's the official web site shalini.

Reply #11

shalini — Tue, 03 Jan 2006 05:23:21 GMT

Todd, these are the rules of the Euromillions. You can check it on their website. And, also I think the last bit of your remark is totally uncalled for.

Reply #10

Zoozie — Tue, 03 Jan 2006 05:06:18 GMT

I read thru the entire website and it did not state anything like that. As a matter of fact, it stated they have employees posted in each of the countries to purchase the lottery tickets for you and can actually claim them and/or send you the information on how to claim larger prizes.I believe it stated if you won up to $600, they would deposit your winnings (minus commission) into your account and you could re-use it to purchase more tickets or withdraw it.Also, you must purchase a minimum o... [ More ]

Reply #9

Fraserm — Tue, 03 Jan 2006 05:02:21 GMT

Thanks for verifying my question Todd. I live in Michigan and I know I can go to Canada, buy tickets, and win jackpots in that country without having to live there. Just trying to hide the money from Uncle Sam would be the problem. LOL, Fraser

Reply #8

Todd — Tue, 03 Jan 2006 04:49:31 GMT

When you hear an off-the-wall statement like that you should be skeptical of the claim. In this case you have very good reason to be skeptical. Some people just state things as if they are fact, not realizing that their words are taken literally on a forum web site, and some people may believe them at face value.No, you don't have to be a citizen of one of the countries to claim a prize.

Reply #7

Todd — Tue, 03 Jan 2006 04:46:29 GMT

That is totally untrue! It's really not a good idea to make statements like that when you're not in possession of the facts.

Reply #6

Fraserm — Tue, 03 Jan 2006 04:23:55 GMT

Well since this web site has a link to Prime Ticket Service perhaps they can shed some light as to wether you have to be a resident of one of the participating countries. Thanks and Happy New Year to All.........

Reply #5

Rip Snorter — Tue, 03 Jan 2006 03:49:43 GMT

Hi shalini:If you have to be a resident of one of the countries it wouldn't do much good to win it, seems to me. That dampens my enthusiasm a bit.Jack

Reply #4

JimmySand9 — Tue, 03 Jan 2006 01:24:48 GMT

It would be appealing, but $5 a ticket seems a bit pricey.

Reply #3

shalini — Tue, 03 Jan 2006 01:03:36 GMT

just for your info guys you have to be a resident of one of the participating countries in order to claim the prize. you may currently be residing elsewhere and it is not necessary to be a passport holder of the same though. I hope it rolls one more time. Won 20 pounds on it last week.

Reply #2

TheGameGrl — Tue, 03 Jan 2006 00:58:10 GMT

Excellent advice! Odds due seem appealing!Not to thrilled that the cash must stay overseas in order to guard from Uncle Sam. Its probably at the highest tax bracket if any of it is introduced into the US Banks....*sigH*. Best wishes to whoever taps that jackpot and is graced with fortune

Reply #1

Todd — Tue, 03 Jan 2006 00:03:09 GMT

dvdiva,If you're considering tickets, I would highly recommend not waiting any longer. Be sure to get them for this Friday's drawing.Most people don't realize how HUGE that jackpot really is.It's ALL CASH and TAX FREE.So what does that mean? If you think about it in terms of a big Mega Millions or Powerball jackpot, they would have to be somewhere around $350 million - $370 million to get an after-tax cash prize of that much.Plus, as you mentioned, the odds of winning Euro Millions are MUCH BE... [ More ]

Anyone else thinking of Euromillions?

dvdiva — Mon, 02 Jan 2006 23:38:55 GMT

Currently it's 58 million pounds ($100 mil)next rollover if it occurs would be 68 million pounds ($117 mil)rollover after that would equal the record for euromillions at ~80 million pounds ($135 mil)it's tax free (at least in Europe) and all cash. If it rolls over on Friday I'm definitly getting tickets although I doubt it will roll much after that. At least there is the handly link now for ordering them. Odds are only 76 million to one (bad, but better than MM and Powerball)I'm hoping for a rol... [ More ]