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One ticket sold in California wins $1.08 billion Powerball jackpotReply
$6,526,045 after taxes - what do you mean? Am in hook, line and sinker lol That's a life changing amount by any standard. What do people want?? We have gotten used to massive jackpots even 5M feels like pocket change.
Jul 20, 2023, 9:10 am - JustMaybe - Lottery News

Chances of 1,2 or three winners in PowerballReply
OK. My local TV news in TX says the cash value of the $1 Billion PowerBall Jackpot after income taxes is $325 million. (You would instantly become an evil 1%-er.) The probability of a single random ticket winning is 1 in 292201338. Nobody knows how many tickets will be bought before the fact, but 350M might be a reasonable (very rough) estimate based on history. If everybody bought a Quick Pick, the Expected Value of the cash after-tax Jackpot (per the Binomial Distribution) would be about $189
Jul 19, 2023, 8:05 pm - Orange71 - Mathematics Forum

Mega Millions Just The JackpotReply
For those answers, did you assume just one jackpot winner? If not, what number of tickets did you assume were sold? I did the 3rd calculation a while back, factoring in taxes. I remember that it didn't make sense, from an expected return viewpoint, to play Mega Millions until the jackpot was roughly $600M, so your results are in the right ballpark, and are most likely correct. The other calculation of relevance, along these lines, is the number of plays needed for the variance of the EV
Jul 16, 2023, 8:52 pm - Wavepack - Mathematics Forum

$875 MILLION: Powerball lottery jackpot surges on rolloverReply
LOL. OOPS. Yeah, the MM annuity is 560 M. Looked at the wrong number. Cash PB is $441.9. 63% Fed taxes, no state tax.
Jul 13, 2023, 8:38 pm - rcbbuckeye - Lottery News

Lotto Jackpot QuestionsReply
The Lottery Officials would not and could not by law pay you the jackpot twice. The advertised jackpot amount is a fixed amount. However, they'd probably cut you one check for the full amount of the advertised jackpot (minus taxes) but that's IF you are the sole winner. If you were not the sole winner, then the parimutuel aspect of the game kicks in. If you had either of two winning tickets or two identical lines printed on your ticket then you'd win two thirds of the advertised jackpot amo
Jul 7, 2023, 9:18 am - GiveFive - Lottery Discussion Forum

Virginia: 6/1 - 6/30/2023Reply
I am sooo tempted. I don't have any feel for how those numbers are going to fall, but it's possible to manipulate the odds a bit so that they are similar to the odds of hitting Pick 3 straight. The way to do it, is to play a 5 way number like 1-2-3-4-5 ANY WAY. The odds are 1 in 833 and it pays $400. That's not a gigantic lick, but most of the other ways to play Pick 5 result in winnings over the $600 limit so you have to pay taxes. For tonight I like 5-1-7-9-0. Good Luck!
Jun 5, 2023, 6:17 pm - parlayman - Pick 3 Forum

Kentucky man who "coasted" into gas station on empty tank wins $1 million in lotteryReply
That is a pretty decent lump sum. Here in Michigan the lump sum on a million is $693,542 before taxes. congrats to the lucky winner!!!!!!!!!!
May 24, 2023, 3:10 pm - Think - Lottery News

Massachusetts father and son sentenced to prison for decade-long $20M lottery ticket schemeReply
The Jaafar family bought winning tickets at a reduce payout from players that didn't want the lottery to cash them for a number of reasons. Instead of just paying the taxes Ali Jaafar foolishly decided to claim losses on tickets they never bought and were sentenced to five years in prison. Over the course of eight years, the Jaafar family had cashed in more than 13,000 winning tickets, a phenomenon that statisticians would attribute astronomical odds to. Not sure why this was added whe
May 23, 2023, 8:55 pm - Stack47 - Lottery News

$1.33 billion Powerball jackpot won by one ticket sold in OregonReply
I think we got so blinded by the billion dollar jackpots people think that 1M is loose change. For the second prize winners that live in a state that doesn't tax the lottery that's 630K after taxes. 630K won't necessarily buy you a mansion or a yatch, but 630K can leave someone debt free and a little towards retirement. 630K is not an amount to be frowned upon. That's my attitude towards the game.
Apr 7, 2024, 12:20 pm - JustMaybe - Lottery News

$975 MILLION: Massive Powerball jackpot increases againReply
Like they say, you have to be in it to win it On that note, I got my one PB with PP and my one MM with the multiplier. Who said that 36M is not a significant amount. The around 10M after taxes is a lot of money - let's not pretend that our lives can only be changed by 100M I would still buy a ticket if the jackpots reset at 10M. Good luck to all.
Mar 31, 2024, 2:04 pm - JustMaybe - Lottery News