MA screwing pick 4 players

Reply #8

NewClub — Fri, 31 Mar 2006 13:58:34 GMT

Really? State only tax winning over $600? I thought all winning are subject to state income tax. In addition, some states like MA wouldn't allow you deduct your lost, which means if you win $100 and lose $100, you pay tax for $100 on actual winning nothing.

I think statement like tax cuts for the rich is reasonable. Goverment needs to spend money no matter where tax come from. So if one part of tax is cut, goverment would come up with some other ways to tax people later. That changes the p... [ More ]

Reply #7

Bingo Long — Thu, 30 Mar 2006 21:38:44 GMT

It's not really double taxed, it's taxed at the regular rate. You get a tax credit for whatever's withheld when you get your w-2g. You do wind up paying taxes twice if your win is less than $5k: 5% state tax when you get your check, and then federal tax when you file your taxes later.

Reply #6

Bingo Long — Thu, 30 Mar 2006 21:33:33 GMT

It absolutely IS screwing Pick 4 players. 60% of the money collected in total for The Numbers Game is paid out in prizes, yes. But basically this amounts to 50% of the pick four money collected goes to pick four prizes, 60% of the pick three money collected goes to pick three prizes, and 10% of the pick four money collected goes to pick three prizes.

Most states separate their pick three and pick four games. MA gets away with what it does because because they call both games "the numbers g... [ More ]

Reply #5

Todd — Mon, 27 Mar 2006 23:34:07 GMT

Most states happen to tax lottery winnings over $600, and everybody is subject to federal tax. Do I think it's right? I'm not sure how what I think is going to help anyone, because no state government is going to repeal a tax.

That's why I can never understand these people who fight tax cuts. When there is an opportunity to get rid of some taxes, go with it, don't fight it, and don't believe the morons who say stupid things like, tax cuts for the rich.

Reply #4

masslottery — Mon, 27 Mar 2006 18:30:58 GMT

do you think its right to get double tax on winnings above 600

Reply #3

Todd — Mon, 27 Mar 2006 18:26:08 GMT

A 60% game does not mean that the top prize should be $6000. It means that 60% of the money collected is returned in the form of prizes. So, that 60% is spread among all the prize levels.

I don't agree that the MA Lottery is screwing Pick 4 players .

Reply #2

masslottery — Mon, 27 Mar 2006 18:12:36 GMT

the prize levels drops depending on how many players hit a certain number but i have notice when a 3 comes in to play the payout is bad like $3700 our less . thats why i only play pick 3 50cents any order our 50 exc and i'll throw a couple of 50 cents combo and mass is a higher paying state thats why its so hard to hit but when you do hit $$$$$$$$$$$$$$$$$$$ tax free if you played 50 cents and not the dollar. and one more thing if you hit over $600 you get double tax here first they taxyou when... [ More ]

Reply #1

LOTTOMIKE — Mon, 27 Mar 2006 18:03:33 GMT

does sound kind of like people are being screwed....

MA screwing pick 4 players

Bingo Long — Mon, 27 Mar 2006 18:01:26 GMT

The MA Numbers game claims to be a 60% pari-mutuel game which should mean that the prize for an exact 4 match should flucuate, but average out to $6000. Actually, they pay less than $5000 on average.

I've studied the payoff values (you gan get historical data at http://www.masslottery.com/games/winningnumbers.html ), and it turns out they always make the match 4 pay 7.14 times what the match 3 (first 3 or last 3) pays. So if the exact 4 pays $5000, the exact 3 pays $700.

This means t... [ More ]