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$344 MILLION: Mega Millions lottery jackpot skyrocketsReply
Hi Teddi- With the way annuities are structured for MM, it would take a jackpot of over 3 billion in order to support initial annual payments of $30 million and this is just with the initial 25% Federal and typical 5% state withholding which. Using the current jackpot as a basis ($344M annuity/ $184M cash) tripling this amount to 1.032 billion/$552 million cash. The first distribution would be $15.5M gross/$10.8M after-30% taxes. It would take 7 years before the pre-tax payment would even exc
Dec 8, 2013, 6:40 pm - Jill34786 - Lottery News

$297 MILLION: Mega Millions jackpot raised again before tonight's drawingReply
Consider this: This coming draw will be a 19th draw. This has happened twice. Once right after the switch to the $2 Powerball ticket - I think before the new Powerball actually set in people's pysche - whereupon the Jackpot was $651 million annuity, the largest ever observed. On that single draw, at the end of March 2012, MM actually sold around $650 million in tickets. The next 19th draw took place in May of this year, producing a jackpot of $190 million, and sold around 60 million tickets.
Dec 6, 2013, 8:14 pm - Prob988 - Lottery News

Do you see further " modifications" to the MM game should the betting public stay away?Reply
the way that the annuity is paid out reduces the actual cash value relative to the quoted annuity value So what? Lottery jackpots have always been determined strictly by the number of tickets that are sold. Changing the annuity is merely a way to BS the stupid people into thinking the jackpot is bigger, in an effort to boost ticket sales. If that does boost ticket sale then the real jackpot will be bigger. Of course that puts more money in the lottery's coffers, but it also transfers more mon
Nov 14, 2013, 12:48 am - KY Floyd - Lottery Discussion Forum

Do you see further " modifications" to the MM game should the betting public stay away?
l base the question on the following notation.. Note: The changes from the old 56/46 game to the new 75/15 game make it significantly more difficult to win a Jackpot. Also the change in the way that the annuity is paid out reduces the actual cash value relative to the quoted annuity value as compared to the previous game. The net result is that the quoted value of the Jackpot will become bigger; but the cash value of any Jackpot will become less relative to the publicized annuity sum, and it
Nov 13, 2013, 8:32 am - noise-gate - Lottery Discussion Forum

Merry Christmas indeed! Lucky N.Y. lottery player wins $49MReply
Jimmy, and others who like to run calculations with your calculator ... if you are referring to Powerball, the annuity payments are completed at the 30th payment (over 29 years time). Were you aware that the last time that a jackpot winner chose the ANNUITY option was October 10, 2007? That is a long time, and should make you think! Most of these jackpot winning CASH OPTION recipients (even after paying the apx. 35% federal taxes plus their state's taxes) are able to obtain the SAME amount o
Dec 28, 2010, 2:47 pm - HaveABall - Lottery News

How are Lottery winnings taxed?Reply
Correct me if I am wrong, but from what I have been able to see regarding taxes on Lottery winnings are as follows: IRS will take an INITIAL 25% from your winnings for Federal. State and local taxes if applicable. Come April 15 of the following year, you will be responsible for paying the remaining taxes that are due to Federal. At the present time, you are looking at a total Federal tax responsibility of 39.6%. So, if my figures are correct, on April 15 you will have to pay an additional
Apr 5, 2010, 6:02 am - Bagent - Lottery Discussion Forum

N.C. lottery turns record profits for stateReply
True, I live in NC, and all the state games have some of the worst payout rates in the country. You are better off just playing the national Powerball, at least then you are with everyone else in a Powerball state. Speaking of which, in trying to decide between annuity and cash option, has anyone run the numbers to see the better choice? My last attempt at an analysis using the $52 million jackpot as an example, they seem to be getting about a 5% return on the $25.5 million invested in an ann
Oct 24, 2008, 9:07 am - sixstringernc - Lottery News

Drive to boost Calif. lottery sales under wayReply
That and the fact that annuity factors are so low. Annuity factors are the multiplier that Lotterys apply to the $$$ in the top prize pool to arrive at the advertised jackpot. If the annuity factor is 2.0, then $20 million in the top prize pool = an advertised jackpot of $40 million. AF's can and have been 2.0 or better. I think recently the annuity factors are more like 1.6 - so it takes a lot for $$$ for the jackpot to rise. MM is certainly part of the issue. I
Jun 30, 2008, 12:05 pm - Drivedabizness - Lottery News

Ohio winner of $196M lottery jackpot claims prize anonymouslyReply
It sounds like you're one of the people who doesn't understand the tax implications. The income comes from the state of Ohio, and Ohio gets to collect income tax on every dime of it (other than whatever exemptions you get). You can take it all now and pay all of the taxes now, or you can collect some each year and pay some of the total tax each year. Either way, the state gets to collect tax on all of it, but they only collect that tax once. Regardless of whether you take the lump sum or the
Jun 29, 2008, 3:15 am - KY Floyd - Lottery News

Do You Tell?Reply
I don't think it would be a valid. It is defined annuity regularity. The problem is the thousand of Hispanics and other immigrants that don't fully understand what is really happening, don't understand a word like annuity, and are too lazy to research it, don't have the ability to research it, or wouldn't know what to look at if it beat them in the groin. All they want to see is the flashing LED numbers and want to win that amount. Most illegal and legal immigrants live in a shack environment an
May 23, 2008, 4:28 pm - MeFirstYouLast - Lottery Discussion Forum