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QUESTION: Please explain California's payout sytem.

Topic closed. 10 replies. Last post 2 years ago by haymaker.

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United States
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January 7, 2015
506 Posts
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Posted: March 25, 2015, 5:10 pm - IP Logged

I keep seeing references to "California's Parimutuel" system.
I have no idea how it's supposed to work, especially since California is said to be one of the 8 tax-free lotto states, understanding that it has nothing to do with taxes.

Your help in understanding the matter is much needed, because I plan to move near California in the near future.

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    South Carolina
    United States
    Member #18322
    July 9, 2005
    1707 Posts
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    Posted: March 25, 2015, 5:22 pm - IP Logged

    I keep seeing references to "California's Parimutuel" system.
    I have no idea how it's supposed to work, especially since California is said to be one of the 8 tax-free lotto states, understanding that it has nothing to do with taxes.

    Your help in understanding the matter is much needed, because I plan to move near California in the near future.

    Which 8 states are Tax Free Lottery States ???

      noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
      Bay Area - California
      United States
      Member #136477
      December 12, 2012
      4109 Posts
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      Posted: March 25, 2015, 5:26 pm - IP Logged

      I keep seeing references to "California's Parimutuel" system.
      I have no idea how it's supposed to work, especially since California is said to be one of the 8 tax-free lotto states, understanding that it has nothing to do with taxes.

      Your help in understanding the matter is much needed, because I plan to move near California in the near future.

      Google it.. simply put: California pays out on what is put in. It does not put itself in a hole when it comes to payouts. Other States have found themselves in situations like that- CA says " not gonna happen. "

      People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

        noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
        Bay Area - California
        United States
        Member #136477
        December 12, 2012
        4109 Posts
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        Posted: March 25, 2015, 5:30 pm - IP Logged

        Which 8 states are Tax Free Lottery States ???

        l think he/ she means " No State Tax on lottery winnings"..

        You can get that information from USAMEGA State jackpot payouts.

        People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

          grwurston's avatar - Cute animals_Spider.jpg
          Winning makes me smile.
          bel air maryland
          United States
          Member #90251
          April 24, 2010
          4878 Posts
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          Posted: March 25, 2015, 7:25 pm - IP Logged

          I keep seeing references to "California's Parimutuel" system.
          I have no idea how it's supposed to work, especially since California is said to be one of the 8 tax-free lotto states, understanding that it has nothing to do with taxes.

          Your help in understanding the matter is much needed, because I plan to move near California in the near future.

          Lotteries with a Pari-Mutuel system work similar to most lotteries, but with a different payout. States with pari-mutuel betting pay prizes based on the number of winners. This means if there are 3 $1 million Powerball winners within a state, then the winners would not receive $1 million. Instead, each winner's prize would be determined by ticket sales and number of winners. This can cause the overall payout to end up more than the advertised prize in some cases, and lower than the advertised amount in others. In simplest terms, it is a system of gaming in which wagered funds are pooled and then paid, in equal shares.

          "You can observe a lot just by watching." Yogi Berra, Hall of Fame baseball player.

          The numbers will tell you what numbers to play. Pay attention to the numbers.

          Don't just think outside the box, crush it.

            Droptop6969's avatar - DSCF1040
            209 Modesto, California
            United States
            Member #162967
            January 15, 2015
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            Posted: March 26, 2015, 2:21 am - IP Logged

            I like california's pari-mutuel system.  I play MM and have seen the 2nd prize 5+0 in the $3-4 Million range

              RJOh's avatar - chipmunk
              mid-Ohio
              United States
              Member #9
              March 24, 2001
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              Posted: March 26, 2015, 12:41 pm - IP Logged

              I like california's pari-mutuel system.  I play MM and have seen the 2nd prize 5+0 in the $3-4 Million range

              That's because you been lucky not to be one of this second place winners who only got $500K instead of $1M like those in other states.

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

                Raven62's avatar - binary
                New Jersey
                United States
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                June 28, 2005
                49813 Posts
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                Posted: March 26, 2015, 1:45 pm - IP Logged

                I keep seeing references to "California's Parimutuel" system.
                I have no idea how it's supposed to work, especially since California is said to be one of the 8 tax-free lotto states, understanding that it has nothing to do with taxes.

                Your help in understanding the matter is much needed, because I plan to move near California in the near future.

                Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed: In fixed odds betting, the payout is agreed at the time the bet is sold.

                A mind once stretched by a new idea never returns to its original dimensions!

                  Raven62's avatar - binary
                  New Jersey
                  United States
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                  June 28, 2005
                  49813 Posts
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                  Posted: March 26, 2015, 1:54 pm - IP Logged

                  Which 8 states are Tax Free Lottery States ???

                  Six States: (Florida, New Hampshire, Tennessee, Texas, South Dakota and Washington) Don't have an Income Tax.

                  California and Pennsylvania exempt residents' winnings from State Income Tax.

                  A mind once stretched by a new idea never returns to its original dimensions!

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                    CALI
                    Afghanistan
                    Member #118735
                    November 6, 2011
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                    Posted: March 28, 2015, 9:44 am - IP Logged

                    Simple... California Lifetime Payout = WELFARE

                    Ive been paying into it for over 30 years, aint seen 1 <snip>ing dime back.

                    Hopefully its helping somebody

                    This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

                      haymaker's avatar - Lottery-012.jpg
                      Egg Harbor twp.south Jersey shore
                      United States
                      Member #112968
                      June 29, 2011
                      3856 Posts
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                      Posted: March 28, 2015, 9:56 am - IP Logged

                      Simple... California Lifetime Payout = WELFARE

                      Ive been paying into it for over 30 years, aint seen 1 <snip>ing dime back.

                      Hopefully its helping somebody

                      This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

                      I've been gone a long time, I remember when it was hard to qualify for un- employment insurance.

                      Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.