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Official Rules of the Games - PB/MM

Topic closed. 12 replies. Last post 9 years ago by KY Floyd.

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October 22, 2005
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Posted: July 20, 2007, 2:56 pm - IP Logged

State one official rule to the games of Powerball and Mega Millions others might not know.

I tried to post this question before but everyone started to talk about numbers.

I want to know if I bought 10 single tickets and each ticket won $500. Can I claim my tickets in good conscience without giving uncle Sam anything.

Here is one rule I have experienced although this is from PB website.

All winning tickets must be redeemed in the state/jurisdiction in which they are sold.

I bought a winning MM ticket in Texas once and took it to Georgia to claim it. I was handing it over to the clerk and see gave me this stare and asked "what is that?"

    Big Hitter's avatar - tdspin17 e0.gif
    Constitutional Money Is Real Money
    Brick City
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    Posted: July 21, 2007, 9:47 am - IP Logged

    If you claim the tickets individually - at 10 different claim centers - you will get all your cash, $500 bucks at a time. Nothing will be witheld since the win (for the individual ticket) is less than $600 (this is the IRS witholding threshold). You will have to decide if you want to tell the crooks at the IRS you increased your income by $5000. If your conscience is bothering you, go ahead and volunteer the info to the IRS. They will gladly take the money. They have no way of knowing you won anything, since the individual wins were below the $600 threshold. The caveat - you don't put your SSN on the ticket, You can sign the ticket, but the SSN should not be on it. I would never put my SSN on the ticket due to the identy theft issues. The SSN would be the only way to link the 10 individual tickets together. When I cash tickets I don't put anything on them at all, never got 1 question from a clerk.

    As far as I know, the official rules for Mega Millions (Maryland) state that all tickets must be redeemed in 180 days, nothing in there about redeeming all your tickets at the same exact time or at the same exact place. 

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      Posted: July 21, 2007, 9:52 pm - IP Logged

      I figured they will be able to see from the lottery office that these winning tickets where bought in sequence. They will say this person won a total of so and so. Therefore, he owes us so much.

        MADDOG10's avatar - smoke
        Beautiful Florida
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        Posted: July 21, 2007, 10:10 pm - IP Logged

        It makes no difference if you bought them in sequence. As long as the amount was under the $600.00 threshold for each ticket, so it doesn't matter even if you had 30 tickets...

                                                     

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          four4me's avatar - gate1
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          Posted: July 21, 2007, 10:15 pm - IP Logged

          State one official rule to the games of Powerball and Mega Millions others might not know.

          I tried to post this question before but everyone started to talk about numbers.

          I want to know if I bought 10 single tickets and each ticket won $500. Can I claim my tickets in good conscience without giving uncle Sam anything.

          Here is one rule I have experienced although this is from PB website.

          All winning tickets must be redeemed in the state/jurisdiction in which they are sold.

          I bought a winning MM ticket in Texas once and took it to Georgia to claim it. I was handing it over to the clerk and see gave me this stare and asked "what is that?"

          Editgap wrote:

          I bought a winning MM ticket in Texas once and took it to Georgia to claim it. I was handing it over to the clerk and see gave me this stare and asked "what is that?"

          No you cannot cash tickets across state lines.

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            Posted: July 21, 2007, 10:43 pm - IP Logged

            Here is a question, does all states cut off purchasing PB and MM ticket an hour before the drawing?

              RJOh's avatar - chipmunk
              mid-Ohio
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              Posted: July 21, 2007, 10:59 pm - IP Logged

              Here is a question, does all states cut off purchasing PB and MM ticket an hour before the drawing?

              In Ohio MegaMillions tickets are sold till 10:45 PM for the 11:00 PM drawing, tickets sold after 10:45 the night of the drawing will be for the next drawing.

               * you don't need to buy more tickets, just buy a winning ticket * 
                 
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                four4me's avatar - gate1
                MD
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                Posted: July 22, 2007, 12:00 am - IP Logged

                Here is a question, does all states cut off purchasing PB and MM ticket an hour before the drawing?

                depends on what time zone you are in.

                Like in California they are 3 and 4 hrs behind the east coast so they cant call someone here on the east coast and get the winning numbers and play them there.

                If the drawing is at 11:00 o'clock on the east coast then the would stop selling tickets at 6:45 one the west coast.

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                  Posted: July 22, 2007, 2:55 am - IP Logged

                  What's strange is, I'm in the same time zone as where they draw the PB, they draw it at 9:59pm, but every place I have been to buy a ticket cuts it off at 8-8:15pm.  One guy said once 'They went all the way to 8:30 once'.

                  Yes, they obviously lock the computer down X minutes before the drawing, it just seems that X time is different, as far as how much time before the drawing they do it.  Some say 15 minutes, my experience is 1.5-2 hours. 

                    RJOh's avatar - chipmunk
                    mid-Ohio
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                    Posted: July 22, 2007, 12:50 pm - IP Logged

                    What's strange is, I'm in the same time zone as where they draw the PB, they draw it at 9:59pm, but every place I have been to buy a ticket cuts it off at 8-8:15pm.  One guy said once 'They went all the way to 8:30 once'.

                    Yes, they obviously lock the computer down X minutes before the drawing, it just seems that X time is different, as far as how much time before the drawing they do it.  Some say 15 minutes, my experience is 1.5-2 hours. 

                    When ever I've gone to Indiana to buy PB tickets, I had to remember part of the state doesn't switch to day light saving time in the summer, which doesn't effect the time of the drawing but when the store closes which effects when tickets can be bought.

                     * you don't need to buy more tickets, just buy a winning ticket * 
                       
                                 Evil Looking       

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                      Posted: July 22, 2007, 9:58 pm - IP Logged

                      State one official rule to the games of Powerball and Mega Millions others might not know.

                      I tried to post this question before but everyone started to talk about numbers.

                      I want to know if I bought 10 single tickets and each ticket won $500. Can I claim my tickets in good conscience without giving uncle Sam anything.

                      Here is one rule I have experienced although this is from PB website.

                      All winning tickets must be redeemed in the state/jurisdiction in which they are sold.

                      I bought a winning MM ticket in Texas once and took it to Georgia to claim it. I was handing it over to the clerk and see gave me this stare and asked "what is that?"

                      "I want to know if I bought 10 single tickets and each ticket won $500. Can I claim my tickets in good conscience without giving uncle Sam anything."

                      It depends on your conscience, or how much you lost. Would you feel guilty about evading taxes? It's not a PB or MM rule, but federal law that says that gambling income is taxable. If you win $5000 and didn't lose at least that much on other wagres then you have taxable income. The fact that it wasn't reported to the IRS doesn't mean it isn't taxable.

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                        Kentucky
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                        Posted: July 24, 2007, 5:49 pm - IP Logged

                        "I want to know if I bought 10 single tickets and each ticket won $500. Can I claim my tickets in good conscience without giving uncle Sam anything."

                        It depends on your conscience, or how much you lost. Would you feel guilty about evading taxes? It's not a PB or MM rule, but federal law that says that gambling income is taxable. If you win $5000 and didn't lose at least that much on other wagres then you have taxable income. The fact that it wasn't reported to the IRS doesn't mean it isn't taxable.

                        "The fact that it wasn't reported to the IRS doesn't mean it isn't taxable."

                        The IRS set guidelines on which gambling winnings are taxable and the state lottery commissions follow them. On the back of every lottery ticket they sell, it clearly states that winnings over $600 will be reported to the IRS and taxes will be deducted from winnings over $5000.

                        If you want to keep a daily ledger and record every dollar you spend on lottery tickets and every free ticket you "win" that's your business and if somebody cashes 10 winning $500 tickets and the state lottery commission doesn't report it to the IRS, it's their business.

                        "Would you feel guilty about evading taxes?"

                        The IRS knows gambling is a series of wins and losses and to them cashing 2500 $2 scratch-off winners over time is exactly the same as cashing 10 $500 winners. If they want "all lottery winnings" reported, why do they only require state lottery commissions to report one time winnings of over $600?

                        Winnings over $600 that were reported are listed as "other income" on Form 1040. Somebody that won $250,000 can deduct up to that amount as gambling losses, but IRS would probably require them to prove it.

                        Where in the tax code does it require us to keep a ledger and report accumulative winnings and losses?

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                          Posted: July 25, 2007, 1:08 pm - IP Logged

                          "The fact that it wasn't reported to the IRS doesn't mean it isn't taxable."

                          The IRS set guidelines on which gambling winnings are taxable and the state lottery commissions follow them. On the back of every lottery ticket they sell, it clearly states that winnings over $600 will be reported to the IRS and taxes will be deducted from winnings over $5000.

                          If you want to keep a daily ledger and record every dollar you spend on lottery tickets and every free ticket you "win" that's your business and if somebody cashes 10 winning $500 tickets and the state lottery commission doesn't report it to the IRS, it's their business.

                          "Would you feel guilty about evading taxes?"

                          The IRS knows gambling is a series of wins and losses and to them cashing 2500 $2 scratch-off winners over time is exactly the same as cashing 10 $500 winners. If they want "all lottery winnings" reported, why do they only require state lottery commissions to report one time winnings of over $600?

                          Winnings over $600 that were reported are listed as "other income" on Form 1040. Somebody that won $250,000 can deduct up to that amount as gambling losses, but IRS would probably require them to prove it.

                          Where in the tax code does it require us to keep a ledger and report accumulative winnings and losses?

                          We've been over this ground before.  That some people aren't bright enough to understand that requirements for gambling operators to report winnings and taxpayers' obligations to report income are different things doesn't change the rules. Anybody who wants to can easily ask their tax preparer or the IRS.