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€126M Euro Millions lottery ticket was purchased onlineReply
Most US Americans do not realize that the US is almost the only country in the world that taxes gambling winnings. The others usually do tax only those who operate gambling businesses. As a result this lucky young Spanish lady will keep her entire sum of E126 million (US$170 million). Also a comment about the Megamillions and Powerball Jackpots. They are the pretax total amount of payouts over about 30 years and therefore are quite deceptive when comparing the amount posted for the Euromillio
May 15, 2009, 10:54 am - robroy - Lottery News

Questions about tax!Reply
1. 35% applies to the federal IRS taxes. The top bracket for federal purposes is above $375,000. Since most jackpots fall in this range....you have to pay the top rate. Keep in mind you don't have to pay the whole 35% right away. The lottery automatically withholds 25% of it before they even write you a check. So you are only responsible for the remaining 10% debt. The IRS also makes sure you pay that debt via estimated taxes which are due quarterly in the year they are incurred. So you can't ju
May 10, 2009, 5:45 pm - SpanaUnlimited - Lottery Discussion Forum

N.C. Lottery snatches back some prizesReply
Yes, I agree ... this is a great place to learn more lottery trivia and tidbits daily -- I'm thankful for LotteryPost.com I didn't know about after taxes pre deduction of hospital bill debts too (CLEAVER!) -- did the hospital have to obtain a judgement first to collect? Anyhow, I realize that many folks have lost jobs and that's how they can quickly fall behind (perhaps WAY behind) in monthly spousal or child support payments. Certainly, it doesn't surprise me that many of those folks are
Apr 29, 2009, 1:35 pm - HaveABall - Lottery News

Cash option and taxesReply
I'm not even in my 30s and I still wouldn't take the annuity, it's really a bad deal and IF you end up in trouble with your money then well, you probably would have got yourself in trouble anyway, like many winners have and ended up selling the annuity for less than it was worth. It's amazing how many people think that they don't have to pay any more taxes on it after they get the money. Lottery annuities when you have a choice are, in my opinion, for suckers at best, lazy people at worst. At le
Apr 23, 2009, 5:19 pm - DC81 - Lottery Discussion Forum

Here is my storyReply
Yes, I only play for the Million and it is a nice change to have the automatic 5x powerplay, though I don't like the new Matrix overall. I usually play one quick pick with power play, and depending on jackpots 1 to 5 quick picks for those $100,000+ games with the 300,000 to 1 odds. I wouldn't ever even want the burden of winning something like 100 million. If I ever did, I'd definitely take the annuity, especially with the world as it is today. Can you imagine winning $200 million, taking the lu
Apr 2, 2009, 10:40 pm - almostabigwinr - Lottery Discussion Forum

Would you quit your job...Reply
What if the person won and have no job/career to begin with? :P I would definately quit my job/career, because with a jackpot win of 100+ Millions with good money managements I would never have to work ever again, and still have a lot left for the next lineage. Smart investments and wise spending can help earn money to live off from. Having quit a job/career does not mean one would be sitting at home. Unless, the person that won have no desire in doing anything else. Each of us have our ow
Mar 31, 2009, 11:32 pm - diamondpalace - Jackpot Games Forum

Question to people who won over $600? are prizes cut in half?Reply
As others have answered, usually only jackpots have a lower cash value, since the advertised jackpot is based on the value of the annuity in 20 or 30 years. However, you always need to check the rules for each game. For example, PB has a second prize of $1 million and you win $1 million (less tax, of course.) But some of the scratch-off games in FL pay the second prize in installments, like the Billion Dollar Blockbuster game. The top prize is $10 million paid out in 20 installments, but the sec
Mar 17, 2009, 1:11 pm - justxploring - Lottery Discussion Forum

Two tickets will share $174M Powerball lottery jackpotReply
Recently, I went to the Powerball site and looked up how many jackpots had been won between Indiana and Pennsylvania since PA joined in 2001. Before the latest jackpot win, Indiana was leading 11 to 10. I thought this was very interesting since PA has always had at least twice as many overall prize winners each draw than Indiana. In the Sat. 2-28-09 draw, PA had 200,000+ overall winners to Indiana's 46,000+. My basic theory has been that more often than not, the jackpot winner will come from an
Mar 1, 2009, 7:38 pm - lottobrain - Lottery News

Illinois Little Lotto Jackpots 2009Reply
No winner last night, the night before there was one winner for $100,000, but I dont know if it was a QP or PS, so data will be skewed (I'll guess it was a PS as there are less of those right now) To date 27 Jackpots 21 QP 14 PS Total jackpot money paid out to date: $4,965,000
Feb 21, 2009, 5:33 pm - Coin Toss - Pick 5 Forum

Illinois Little Lotto Jackpots 2009Reply
One winner last night, a QP in Danville for $100,000 (My 'puter is in the shop, am at the library) To date: 26 Jackpots 21 QP 13 PS Total jackpot moneyt paid out to date: $4,865,000
Feb 19, 2009, 4:13 pm - Coin Toss - Pick 5 Forum