$40 Million Lotto 6/49 CanadaPrev Topic Next Topic

Sheba2

Newfoundland
Canada
Member #22,544
September 27, 2005
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Oct 23, 2005, 7:48 am

Saturday night's $30 million jackpot was not won. The jackpot for the next draw on Wednesday, October 26 is $40 million! There were eleven second-place winners getting $100,026.10 each.

Sheba....
Chewie

Sparta, NJ
United States
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July 9, 2005
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Oct 23, 2005, 8:51 am

Nice Pick 6 amount - would be close to $100M in American lottery money. American's only advertise the annuity amounty (see small print for real value).

|||::> *'`*:-.,_,.-:*''*:--->>> Chewie <<<---.*''*:-.,_,.-:*''* <:::|||

I only trust myself - and that's a questionable choice
Chewie

Sparta, NJ
United States
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July 9, 2005
1,977 Posts
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Oct 23, 2005, 8:51 am

Nice Pick 6 amount - would be close to $100M in American lottery money. American's only advertise the annuity amounty (see small print for real value).

|||::> *'`*:-.,_,.-:*''*:--->>> Chewie <<<---.*''*:-.,_,.-:*''* <:::|||

I only trust myself - and that's a questionable choice
Chewie

Sparta, NJ
United States
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July 9, 2005
1,977 Posts
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Oct 23, 2005, 8:52 am

Sorry about the double hit, ISP is running slow, and sop is my refresh.
Sheba2

Newfoundland
Canada
Member #22,544
September 27, 2005
46 Posts
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Oct 24, 2005, 6:57 am

We get it all in 1 lump sum. Which is nice. 40 Million is allot of Money and If I won, I think I would add my family names to the tickets as well.. I have 3 Sisters and 1 Brother plus my Parents..And also My Husband has 3 Brothers and 2 Sisters and his Mom. Plus my daughter... Total would be 14 People ....Count Me and Hubby separate..

40 Million devide that by 14 people = 2.85 Million each.. Just enough not to be bothered by too many people looking for things...

Sheba....
Sheba2

Newfoundland
Canada
Member #22,544
September 27, 2005
46 Posts
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Oct 24, 2005, 6:57 am

Anyone got any tips on how to pick numbers.. .

I have lots of ideas but would like to hear others...

Sheba....
Chewie

Sparta, NJ
United States
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July 9, 2005
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Oct 24, 2005, 8:58 am

Quote: Originally posted by Sheba2 on October 24, 2005

We get it all in 1 lump sum. Which is nice. 40 Million is allot of Money and If I won, I think I would add my family names to the tickets as well.. I have 3 Sisters and 1 Brother plus my Parents..And also My Husband has 3 Brothers and 2 Sisters and his Mom. Plus my daughter... Total would be 14 People ....Count Me and Hubby separate..

40 Million devide that by 14 people = 2.85 Million each.. Just enough not to be bothered by too many people looking for things...

Recently, in Pennsylvania, a guy won a lot less then $3M, after they gave his name out, people lined up for miles for a shot at begging and pleading - most of them had a child there to increase the emotional impact. Parked a few blocks away were hundreds of shiney RV's; so they could drive the next winners house.

|||::> *'`*:-.,_,.-:*''*:--->>> Chewie <<<---.*''*:-.,_,.-:*''* <:::|||

I only trust myself - and that's a questionable choice
CASH Only

United States
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June 5, 2002
11,296 Posts
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Oct 24, 2005, 12:52 pm

Maybe I should have gone to Canada instead of Oklahoma and California...but then I would have missed out on playing $340 million Powerball.
BaristaExpress

Magnolia, Delaware
United States
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July 20, 2005
789 Posts
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Oct 24, 2005, 2:03 pm

I wish I could buy some tickets from Canada for that 40 million dollar 6/49 drawing!

Keep dreaming the impossible dream, it just may come true!
Chewie

Sparta, NJ
United States
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July 9, 2005
1,977 Posts
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Oct 24, 2005, 2:29 pm

Quote: Originally posted by BaristaExpress on October 24, 2005

I wish I could buy some tickets from Canada for that 40 million dollar 6/49 drawing!

D-I-T-TO ! I'm guessing there is no legitimate link any where.

|||::> *'`*:-.,_,.-:*''*:--->>> Chewie <<<---.*''*:-.,_,.-:*''* <:::|||

I only trust myself - and that's a questionable choice
BaristaExpress

Magnolia, Delaware
United States
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July 20, 2005
789 Posts
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Oct 24, 2005, 2:44 pm

Not from what I have seen there isn't!

Keep dreaming the impossible dream, it just may come true!

BC
Canada
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August 19, 2003
258 Posts
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Oct 24, 2005, 3:33 pm

There's a useful link related to the breakdown of Jackpot payouts in the USA by state, listing federal and state taxes, Lump Sums, Annuities, monthly payments and totals, etc. I have been unable to post the link here, for some reason this editor truncates it ....

Anyway, for those interested, Google LottoStrategies, then click Jackpot Analysis.

Federal tax of 25% on wins is applied right accross the whole of USA, but of note is the fact that some states have no tax on lotto wins whereas others take up to 10%, like Montana for example:

Jackpot Analysis For Montana Powerball
Wednesday, October 26, 2005	Annuity	Cash
Jackpot Amount	$20,000,000	$9,600,000
Gross Prize	30 Annual Payments of $666,666	Lump-Sum Cash $9,600,000
Less 25% Federal Tax	-$166,666	-$2,400,000
Less 10.0% State Tax	-$66,666	-$960,000
	Yearly Net Pay: $433,334 Total Pay After 30 payments: $13,000,020	Lump-Sum Net Payout: $6,240,000

So in Montana the advertised Power Pot of $20M is really only less than a third when Lumped.

Now in WA where there is no state tax for wins, the $128M MEGA Pot gives the winner a choice to Lump it at ~ $57M which is less than half of the advertised value.

The Canadian JP of $40M (about $34M US) is then roughly equivalent to $75M US ... not too shabby, eh? Wink

P.S. it's against the law to purchase lotto tickets outside the provincial jurisdictions, whether by mail or on-line. Anyone trying to sell you tickets is doing so illegally no matter what they claim. Only way for non-Canadians to buy tax-free lotto tickets here is when visiting ... but if you win you'll get nailed for local taxes bringing the winnings back to your country.

if at first you don't succeed ... destroy all evidence you ever tried

Sheba2

Newfoundland
Canada
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September 27, 2005
46 Posts
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Oct 24, 2005, 4:05 pm

SO what is they get nailed for taxes at least they will still have some winnings to spend!

Sheba....
bellyache

United States
Member #12,618
March 18, 2005
2,060 Posts
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Oct 24, 2005, 4:15 pm

I would love to get a couple of tickets for this jackpot.
lottoshlep

BC
Canada
Member #2,120
August 19, 2003
258 Posts
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Oct 24, 2005, 4:16 pm

Quote: Originally posted by Sheba2 on October 24, 2005

SO what is they get nailed for taxes at least they will still have some winnings to spend!

That's right Sheba, who cares about taxes when the Pots get so big, eh? Same goes for Annuities vs Lump decisions, those are individual preferences anyway, but it's nice to know what the options are just in case ... that's why I posted the info. Now the trick is winning something in the first place!!

Good Luck on Wednesday!!

if at first you don't succeed ... destroy all evidence you ever tried

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