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Joining a lottery club?Reply
Not worth joining a pool. Its $61 million IF the winner opts for the annuity. Otherwise it is $36.9 million, before taxes. Take a third right off the top for taxes. That leaves a bit over $24.6 million to split between the pool. So 10 pool players would net about $2.46 million each with more taxes due at the end of the year. Big difference between expecting $61 million, or $36.9 million and receiving 2.4 million. But that's the reality. G
Mar 30, 2023, 5:45 am - garyo1954 - Lottery Discussion Forum

165 Belgians in one town share €143 million EuroMillions jackpotReply
This story reminded me of the Movie Waking Ted Devine , if you haven't seen it you are missing out. It is Funny!! Tax Free winnings!! I think I heard angels singing when I read that. Now you wanna be totally disgusted? If you win Powerball in the States you can be charged up to 37% in taxes and that is just federally. that is even before your state get their share. if you live in one of those that taxes Lottery as well. And we let them do this to us? WHY? The recent winner o
Dec 23, 2022, 12:59 pm - Dead_Aim - Lottery News

$1 BILLION: Historic Powerball jackpot draw set for MondayReply
Imagine if the same thing happened in Powerball for the Billion $$ jackpot. Those 52 winner in NY represent roughly 1 of every 10,000 tickets for that drawing. To reach an even billion will require selling about 130 million tickets, so if 1 of every 10,000 used the numbers from the previous drawing we'd have about 13,000 winners. They'd each get about $38,253 before taxes. I wonder how many would quit their jobs before finding out they need a job to pay the bills? The cash you will get
Oct 30, 2022, 11:16 pm - KY Floyd - Lottery News

Major claim deadline approaching for Illinois lottery winner of $1.337 billion Mega Millions jackpotReply
Interesting options this winner(s) has: 1. Complete anonymity 2. Cash Lump Sum Always the best (imho) 3. Annuity https://www.usamega.com/mega-millions/jackpot/annuity/il/2022/7/29 Starting with the 1st payment of $11.71 Million AFTER state and fed taxes are paid , then going up. Payment # 15 would be $23.16 Million take home (provided taxes stayed at the same rate). The final take home payment of $48.12 Million ( If taxes stay the same in 29 years). Lots to ponder for this
Sep 12, 2022, 11:42 am - CDanaT - Lottery News

Illinois man celebrates Valentine's Day with $1 million lottery win three days after breakupReply
So HE wins a MILLION but only gets $600,000 before TAXES, I don't consider that A MILLION, I call that a JOKE. $300,000 after taxes is a tidy sum but it is NOT A MILLION but the State Lottery and the News will say he won a million but he didn't so everyone will believe he won a million. I think it sucks to win a big prize like that and then you have to choose either be tied to the tax man for 20 years or accept half as a consolation prize instead. The State of Illusions
Feb 14, 2024, 6:35 pm - Onelast8 - Lottery News

Editorial: Study of lottery winners still receiving food stamps is flawed but raises good pointsReply
Don't forget when they win any lottery prizes the state takes most their winnings , which might explain why they are still getting it. They not talking about that part, leaving winners still in need. I can recall in 2015 I won 11G at the casino. I was on public assistance when my daughter was 11 years old(28 now show how long). And best believe after the federal taxes plus other state taxes plus the welfare cut, I had only $1,100 left and I weren't even working at the time and
Nov 1, 2023, 2:35 pm - Dollybody42 - Lottery News

$910 MILLION: Mega Millions lottery jackpot making another historic runReply
It's been awhile but, the subject matter lured me back into this conversation. Okay I currently reside in state A ..... that has income tax plus. If I were to buy pb or mm in neighboring state B .... with no income taxes.... And before I claim my winning ticket in state B ... establish a new residence in state B .... how would I be liable to pay income taxes to my old state, A? Thanks for your reply in advance!
Jul 28, 2023, 7:46 pm - ShagE3 - Lottery News

Sports betting legalized in KentuckyReply
As you probably know that gray machines are supposed to be outlawed very soon. You cannot play Keno on-line from approximately 0200-0500/seven days a week. I'm sure you know the slot machines which I agree with you on are still called Historical Racing Machines (HRM). Am hoping that this goes away and have genuine slot machines. Paying taxes on small wins due to small wagering is for the birds. Folks have explained it to me the higher the wager sometimes no taxes unlike across the river
Apr 7, 2023, 8:48 am - Bleudog101 - Lottery News

Florida Scratch Offs - Post Pictures if posibleReply
Hi Speeddmon, in the FL Lotto press releases those big checks to go along with all those big smiles always show the wins in todays dollars....but that win amount is, in reality, spread over many years (usually 20). The Lotto gives such winners the option to get paid right away in one lump sum, but at a discounted amount, since future inflation would erode the buying power of the annual payment if the annual $ option was chosen (think of if you bought a car 20 years ago what would a comparable on
Feb 5, 2023, 4:41 am - Cape $cratcher - Instant ("Scratch-Off") Games Forum

165 Belgians in one town share €143 million EuroMillions jackpotReply
First of all why is the government getting a cut period!? Second of all they won two billion. If the take lump sum (cut in half) then they pay your quoted taxes. But that is taxes on one billion, not two like they advertised they won. Take 37% of TWO billion and see what they would have to pay. And again, why is the government getting a cut at all? And why 37%, the highest bracket they can charge?More countries don't tax their lottery winners than the ones that do... But I digress. That is n
Dec 25, 2022, 2:25 am - Dead_Aim - Lottery News