QUESTION: Please explain California's payout sytem.

Reply #10

haymaker — Sat, 28 Mar 2015 13:56:48 GMT

I've been gone a long time, I remember when it was hard to qualify for un- employment insurance.

Reply #9

chopperman8238 — Sat, 28 Mar 2015 13:44:09 GMT

Simple... California Lifetime Payout = WELFARE

Ive been paying into it for over 30 years, aint seen 1 snip ing dime back.

Hopefully its helping somebody

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Reply #8

Raven62 — Thu, 26 Mar 2015 17:54:40 GMT

Six States: (Florida, New Hampshire, Tennessee, Texas, South Dakota and Washington) Don't have an Income Tax.

California and Pennsylvania exempt residents' winnings from State Income Tax.

Reply #7

Raven62 — Thu, 26 Mar 2015 17:45:30 GMT

Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed: In fixed odds betting, the payout is agreed at the time the bet is sold.

Reply #6

RJOh — Thu, 26 Mar 2015 16:41:36 GMT

That's because you been lucky not to be one of this second place winners who only got $500K instead of $1M like those in other states.

Reply #5

Droptop6969 — Thu, 26 Mar 2015 06:21:53 GMT

I like california's pari-mutuel system. I play MM and have seen the 2nd prize 5+0 in the $3-4 Million range

Reply #4

grwurston — Wed, 25 Mar 2015 23:25:43 GMT

Lotteries with a Pari-Mutuel system work similar to most lotteries, but with a different payout. States with pari-mutuel betting pay prizes based on the number of winners. This means if there are 3 $1 million Powerball winners within a state, then the winners would not receive $1 million. Instead, each winner's prize would be determined by ticket sales and number of winners. This can cause the overall payout to end up more than the advertised prize in some cases, and lower than the advertised am... [ More ]

Reply #3

noise-gate — Wed, 25 Mar 2015 21:30:29 GMT

l think he/ she means No State Tax on lottery winnings ..

You can get that information from USAMEGA State jackpot payouts.

Reply #2

noise-gate — Wed, 25 Mar 2015 21:26:05 GMT

Google it.. simply put: California pays out on what is put in. It does not put itself in a hole when it comes to payouts. Other States have found themselves in situations like that- CA says not gonna happen.

Reply #1

destinycreation — Wed, 25 Mar 2015 21:22:28 GMT

Which 8 states are Tax Free Lottery States

QUESTION: Please explain California's payout sytem.

Groppo — Wed, 25 Mar 2015 21:10:56 GMT

I keep seeing references to California's Parimutuel system.

I have no idea how it's supposed to work, especially since California is said to be one of the 8 tax-free lotto states, understanding that it has nothing to do with taxes.

Your help in understanding the matter is much needed, because I plan to move near California in the near future.