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Biggest reason for Lottery Winners going broke soon? :/Reply
There seems to be a misconception about going broke . Don't know what the average number of tickets each player buys, but I doubt most people go broke buying tickets for one drawing. Single filer prize winners with a total income of up to $170,050 are in the 24% tax bracket so they shouldn't owe very much if anything because of the withholdings. If the total income is $539,901 or more, they could another 13% in taxes. There probably are people that spend the majority of their prizes only to
Jan 11, 2023, 12:48 pm - Stack47 - Lottery Discussion Forum

Poll: Classic Mega MillionsReply
We're getting fewer winners with smaller prizes... In August of 2017 a $350M jackpot would have have given the winner $216M before taxes $162M after taxes in California. That's $0.46 on the dollar take-home. On 11/27/2023 the PB jackpot is $352M.... with a cash option of $163M before taxes about $103M after taxes in California.. That's $0.29 on the dollar take-home. That's a difference of $53M on the pre-tax $59M on the post-tax payout... So where the hell is that e
Nov 26, 2023, 12:13 am - Rexer90 - Lottery Discussion Forum

Kentucky woman quits job after winning $90,000 in the lotteryReply
Not false advertising on any level. Everyone knows taxes are later withheld.
Apr 6, 2024, 1:59 pm - Artist77 - Lottery News

$1.23 BILLION: Powerball jackpot juggernaut keeps rollingReply
good bye unemployment, hello $1mil dollars, I am still working for this amnt ($1mil) after taxes $650K
Apr 5, 2024, 3:53 pm - En ReVal - Lottery News

Kentucky man out of debt for the first time in his life, thanks to $150,000 lottery winReply
Overdue property taxes????? He paid off his mortgage.
Mar 7, 2024, 6:17 am - Artist77 - Lottery News

Maryland: 2/1 - 2/29/2024Reply
If you win a Pick 4 double for a dollar box with the promotion you'll win $800 before taxes. After they take out the 24% Fed and 8.95% state taxes for a total of $263.60, you'll take home an extra $136.40 for a grand total of $536.40 Why wouldn't we just wait till the promotion is over, then play for a $2.00 box, win $800 and then keep it all. Makes sense right?
Feb 13, 2024, 8:33 pm - grwurston - Pick 4 Forum

Father buys winning $1 million lottery ticket while wife waits in hospital with newbornReply
Totally agreed. No taxes no the so called advertised amount that make people sicks...
Feb 1, 2024, 11:42 pm - Petrust99 - Lottery News

Florida Scratch Offs - Post Pictures if posibleReply
Does anyone know how to claim losses with scratchers after winning a big prize like 100k and having to pay taxes on it?
Dec 13, 2023, 6:23 pm - speeddmon - Instant ("Scratch-Off") Games Forum

Decrease of cash valueReply
It's just gonna keep going down, down, down until someday a $1.5 billion Powerball jackpot winner will only take home a lump sum of $25,000,000 after taxes.
Oct 22, 2023, 9:04 pm - jjtheprince14 - Lottery Discussion Forum

California man asks clerk to choose a lottery game for him, ends up picking out a ticket worth $10MReply
Well, give the winner a chance to cash the ticket first I suppose is the thing to do here. We do though need a follow up on this story regarding how much he tipped. 800k is a little excessive actually. The winner is not going to get 5.8 million after taxes. They are going to get 5.8 million and then pay the taxes since they took the lump sum. Ballpark around 3 million. The clerk doesn't deserve 30% or so. More like 5% would be fair.
Oct 20, 2023, 12:04 pm - billybucks - Lottery News