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$40 Million Lotto 6/49 Canada

Topic closed. 23 replies. Last post 11 years ago by psykomo.

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Sheba2's avatar - moon2
Newfoundland
Canada
Member #22545
September 27, 2005
46 Posts
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Posted: October 23, 2005, 7:48 am - IP Logged

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....

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    Sparta, NJ
    United States
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    July 9, 2005
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    Posted: October 23, 2005, 8:51 am - IP Logged

    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).

    Cheers

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

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

      Avatar
      Sparta, NJ
      United States
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      July 9, 2005
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      Posted: October 23, 2005, 8:51 am - IP Logged

      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).

      Cheers

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

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

        Avatar
        Sparta, NJ
        United States
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        July 9, 2005
        1977 Posts
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        Posted: October 23, 2005, 8:52 am - IP Logged

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

          Sheba2's avatar - moon2
          Newfoundland
          Canada
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          September 27, 2005
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          Posted: October 24, 2005, 6:57 am - IP Logged

          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's avatar - moon2
            Newfoundland
            Canada
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            September 27, 2005
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            Posted: October 24, 2005, 6:57 am - IP Logged

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

             

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

            Sheba....

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              Sparta, NJ
              United States
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              Posted: October 24, 2005, 8:58 am - IP Logged

              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.

              Cheers

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

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


                United States
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                Posted: October 24, 2005, 12:52 pm - IP Logged

                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's avatar - BaristaExpressMX zpsfb0d8b5d.png
                  Magnolia, Delaware
                  United States
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                  July 20, 2005
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                  Posted: October 24, 2005, 2:03 pm - IP Logged

                  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! Thumbs Up

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                    Sparta, NJ
                    United States
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                    Posted: October 24, 2005, 2:29 pm - IP Logged

                    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.

                    Cheers

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

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

                      BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
                      Magnolia, Delaware
                      United States
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                      Posted: October 24, 2005, 2:44 pm - IP Logged

                      Not from what I have seen there isn't!

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

                        lottoshlep's avatar - super 7-top-over.jpg
                        BC
                        Canada
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                        August 19, 2003
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                        Posted: October 24, 2005, 3:33 pm - IP Logged

                        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, 2005AnnuityCash
                        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  Cool 

                          Sheba2's avatar - moon2
                          Newfoundland
                          Canada
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                          Posted: October 24, 2005, 4:05 pm - IP Logged

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

                          Sheba....

                            bellyache's avatar - 64x64a9wg

                            United States
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                            March 18, 2005
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                            Posted: October 24, 2005, 4:15 pm - IP Logged

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

                            Dance like no one is watching.

                              lottoshlep's avatar - super 7-top-over.jpg
                              BC
                              Canada
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                              August 19, 2003
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                              Posted: October 24, 2005, 4:16 pm - IP Logged

                              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!! See Ya!

                               

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