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Post your scratch ticket resultsReply
With Federal Taxes, you can offset your winnings by claiming a loss in your itemized deductions. With state taxes, most likely the answer is no. Unless gambling losses are an acceptable subtraction of income , you will most likely be unable to claim any deduction for them, unless the prize is not taxable in the state you are claiming it in (i.e. Michigan allows bingo winners of $1,200 or more to have those winnings be exempt from state tax, while still being federally taxable). You w
Feb 10, 2013, 7:51 pm - NoCompLotto! - Instant ("Scratch-Off") Games Forum

Florida Scratch Off Taxes
I thought 25% was taken off the top and the balance paid in one lump sum - look at these recent $1M winners posted on the Fl Lottey site - why is the take home amount different ? What am I missing here .....? $1M won on Spectacular - $818,854 lump sum paid out $1M won on Millionare - $825,451 lump sum paid out $1M won on 50X ---------$800,00 lump sum paid out
Oct 24, 2012, 10:18 am - skeptic - Instant ("Scratch-Off") Games Forum

Post your scratch ticket resultsReply
Congrats to the recent winners ! I was in GA for a few days and played lots of tickets and did pretty well. Started off with a couple random $100 winners on $20 Taxes Paid and $7 Mil Jackpot. I found a gas station and bought a roll of Taxes Paid - 15 tickets for $300. Got back $890 !! Scored 2 $300 winners and lots of small ones. Bought 3 more rolls at different stores got back between $250, $400 and $520. Tried a $7 Mil Jackpot roll and got back $660 - found a $200 2x $100 and couple of $70,
Mar 27, 2012, 11:53 pm - James1 - Instant ("Scratch-Off") Games Forum

Biggest letdown in lottery history - what's yours?
I purchased three $20 games yesterday, Super Millions (which I am growing to despise), $3,000,000 Taxes Paid, and just for old times sake I purchased Millionaire Jumbo Bucks. I got around to scratching them today, and I was half way through $3,000,000 Taxes Paid, and I uncovered 19, which was one of the winning numbers. It was worth $300,000! I called my wife and told her she should come home and that we had won $300,000. I became shaky and it was surreal. I had never been so excited! For once i
Sep 24, 2011, 3:51 pm - CarHauler - Instant ("Scratch-Off") Games Forum

Loosing Lottery Tickets To Save Them Or Not?Reply
James - in FL anything over $599 gets added to your taxable income. They just dont withhold taxes on any claim less than $5K when you claim it at the lotto office. If you claim a Play4 for $5,000, the lottery office will hand you a check for $5,000. If you claim a $10,000 prize, you will walk away from the lottery office with a check for $7,500. Regardless the IRS will get thier cut off anything over $599, whether its at the lottery office, or at the end of the year when you do y
Apr 18, 2011, 12:50 pm - B$Rizzle - Instant ("Scratch-Off") Games Forum

Free Ticket.Reply
Free ticket games actually help the average lottery player, because of how lottery accounting works. If a game has a 60% payback ratio, (at least in MA) that means 60% of NET sales (total sales minus free bets). So say 10% of the tickets out there win a free bet. This means that the total cash prizes are going to be 60% of 90% of the total face value of all of the tickets in the game, or 54% of the face value for the game.But for the typical lottery player, free bets are as good as cash, since t
Apr 5, 2005, 10:34 pm - Bingo Long - Instant ("Scratch-Off") Games Forum

Florida Scratch Offs - Post Pictures if posibleReply
Someone posted, I believe it was CapeScratcher about how the new prize payout is lower than it was before. So if you want a better payout on $1million dollar winner stick to tickets that came out with 500x or before. I'd stick with $20 Gold Rush Limited. It's crazy that there is a 200k difference in payout. That's almost 40% in taxes out the gate :(.
Mar 22, 2023, 3:01 am - speeddmon - Instant ("Scratch-Off") Games Forum

Florida Scratch Offs - Post Pictures if posibleReply
500X the Cash is a straight cash payout minus taxes. 1 Million a Year for Life is an annuity, which would be paid out as 1 million a year for twenty-five years. If you take the cash option, you receive the amount that they would have to invest over 25 years to pay that amount (which is less than the full 25 million.)
Mar 21, 2023, 9:12 am - Sum Buddy - Instant ("Scratch-Off") Games Forum

Florida Scratch Offs - Post Pictures if posibleReply
Why is there a sudden drop in winning a $1 million prize compared to last year? Also, do you know the total amount take home after taxes? I thought you were taxed only once @ 24% from the IRS? Thanks for the prize payout table, I didn't think there would be any $1 million prizes on this ticket at all. Hopefully this means we are getting a new Lucky for Life game coming in March or soon.
Feb 5, 2023, 4:13 am - speeddmon - Instant ("Scratch-Off") Games Forum

Florida Scratch Offs - Post Pictures if posibleReply
Yes, those income taxes are dwindling lol. I'm sure those people who rushed out and bought books upon books when it first came out are regretting their decision lol. BTW that was a 500$ winner. I asked the clerk if he had another for me but he said he had to give it to another customer lol.
Mar 19, 2022, 3:17 am - speeddmon - Instant ("Scratch-Off") Games Forum