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Mega Millions jackpot closes in on $1 billionReply
At the time of posting this, there were 256,731 LP members. If you give $1000 for each, that's $ 256,731,000. The lump sum win is 284 million before state taxes. So that leaves you with around $28 Million after your generosity. Still a decent amount.
Nov 14, 2025, 8:34 pm - JustMaybe - Lottery News

New York man turns grocery run into $3 million lottery annuityReply
The yearly payment will net him around $1,953,060 after the 20 years. If I was the winner I would spend 3/4 of the annual payment and invest 1/4 that is $24,413 in a low cost ETF. After 20 years that would be around 500K in contributions which would hopefully have grown and compounded at least at 7% per year after taxes. That helps to counter inflation. I would love to have such a problem
Nov 14, 2025, 8:16 pm - JustMaybe - Lottery News

Data breach at lottery tech vendor Brightstar exposes personal info of over 100,000 individualsReply
there're three taxes on the jackpot winning: 1-first cut is the lottery organizers' cut. it's about 60% of the jackpot. 2-second cut is the Uncle Sam tax cut, it's around 37% on the amount left (after the lottery organizers got their 60% cut. 3-third cut is the state tax 4-fourth cut is the city tax like NYC, NY
Oct 22, 2025, 12:52 am - TwoMillion - Lottery News

Are you playing Mega Millions with the $5.00 per play?Reply
The problem is not that the prize itself is too small. The problem is that $165M/290M = 57 cents. I am not paying five dollars for a prize worth 57 cents (minus taxes) plus lower prizes worth $1.25 with a multiplier gimmick I don't want. I jumped in the Powerball frenzy on the last drawing because I figured it's now or never (and I was right, it was won). The $2 ticket price was worth 800 million dollars, even considering the chances someone else would win. That's why I bought 100 ticket
Sep 9, 2025, 9:50 pm - Tucker Black - Lottery Discussion Forum

Are you playing Mega Millions with the $5.00 per play?Reply
Let's not forget that you pay through the brackets... most of the win will be taxed @ 37%, but only on the amount that crosses the threshold... and only for the year won. After that, you will be paying taxes on interest earned or investment returns... capital gains etc... The important part to focus on is that the payout will not withhold at the correct tax liability, they are only required to hold 24%, you will be required to pay the 13% difference when you file. Living in PA, I know I
Sep 6, 2025, 9:22 am - hypersoniq - Lottery Discussion Forum

Are you playing Mega Millions with the $5.00 per play?Reply
That's a stupid question. There are two problems with your nonsensical query: 1) that isn't current tax law 2) very few people can choose how much money they make in a year, especially with such a huge difference like that. And with the lottery, you certainly don't to choose how much you win. It is very easy to avoid paying taxes on lottery wins. Have a winning ticket? Burn it! There, problem solved. But how many people are really that stupid, that they would turn down a large a
Sep 5, 2025, 11:44 am - Tucker Black - Lottery Discussion Forum

Powerball reaches $643 million: highest lottery jackpot of 2025Reply
Actually MsBee18.....If you are single, its not the top half that is at 37%, that figure is $626,351.00 and up, for this tax year. I have attached the following for your review https://www.forbes.com/sites/kellyphillipserb/2024/10/22/irs-announces-2025-tax-brackets-standard-deductions-and-other-inflation-adjustments/ https://www.irs.gov/newsroom/irs-releases-tax-inflation-adjustments-for-tax-year-2025 I wasn't trying to be perfectly exact when commenting on the initial Million with
Sep 1, 2025, 5:41 am - CDanaT - Lottery News

Games most playedReply
I mostly play Lucky for Life - the beauty is that if you match two numbers you win a prize and it's more than the cost of the ticket. Second most played is Powerball. When it gets to 50 M after taxes am in. Once in a while I throw a dollar at the 2by2 - the jackpot is always 22K. Bottom line, I spend what I can afford to give away. Good luck
Aug 25, 2025, 1:03 am - JustMaybe - Lottery Discussion Forum

Are you playing Mega Millions with the $5.00 per play?Reply
I totally agree that it's people who make things a headache. If I were to win something like Powerball, the majority would go into laddered treasury bills, with some in an S P 500 index fund. The last thing I would do is start my own business or invest in any sort of risky business venture. People go broke because they think this sudden windfall of money has given them some sort of insight on how to invest, start or run a business. If you weren't doing any of that before winning the lottery jack
Aug 24, 2025, 10:09 am - GoodLuckDude - Lottery Discussion Forum

Fantasy 5 payouts are garbage now!Reply
I dunno Todd. Hope you're right. August 16th mid-day Florida Fantasy5 drawing saw two winners of $27,658. And that's BEFORE Federal income taxes. Sad fact of life here in Florida... too many people living down here now. Traffic is akin to NY's Long Island year round. (used to be that way only during Snowbird season) I've asked many of my former Long Island friends living here now if they think traffic is like it was when they lived on The Island. Oh my God! exclaimed one friend. I thoug
Aug 17, 2025, 9:24 am - GiveFive - Lottery Discussion Forum