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POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOTReply
The issue of future tax rates and their impact on your net return down the road is valid and I'm not knocking anyone's argument or knowledge/skills in this area. But, in reality, with the numbers being what they are---and certain to climb--what difference does it really make? Here in Ohio the current net cash payout is just over $572 million. With the annuity payments the first year is almost $14 million. Which by itself means my family and my children's future families will be set for lif
Jan 11, 2016, 11:22 am - Arrowhead - Lottery News

POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOTReply
An even better analogy would be buying a $0.99 drink that's advertised as being 30 ounces and finding out that you get one ounce now and another ounce every year for the next 29 years. Of course they more or less get around that by 1. listing a cash value and/or 2.having a disclaimer about the 30 annuity payments somewhere in the fine print. 3. Saying it really is the full amount because all the annuity payments add up to that much. Still, I've got no doubt that a private company
Jan 11, 2016, 1:06 am - KY Floyd - Lottery News

Are you ready for the attention?Reply
Right now the cash/annuity ratio is very close to .61 for both PB and MM, which means a cash value of $1 billion would require an advertised jackpot of about 1.63 billion. That's unlikely, but it's certainly possible. I've already explained on page 1 how big the jackpot would be if the sales for the MM record were applied to PB's prize pool - the cash value of $474 million would have been about twice as much, at about $950 million, which would have meant an advertised value of about $1.3 billion
Nov 30, 2015, 12:43 am - KY Floyd - Lottery Discussion Forum

Powerball Matrix Change - April 15, 2015Reply
Q. When is $40 Million not enough? A. When you are not sure what the government is going to do with taxes you can't figure out whether to take the cash or annuity. certainly it would be a nice annuity if the tax system didn't keep changing and getting worse. Does anyone on here know if The 3.8% Obamacare tax surcharge applies to the lottery annuities? A. The lump sum for $40 million after taxes is chump change considering you are beating once is several lifetime odds. IE the
Apr 15, 2015, 10:25 am - Think - Lottery Discussion Forum

Bill would allow Texas Lottery winners to pay for anonymityReply
The bill is titled, Relating to a lottery prize winner's choice to remain anonymous on authorization to withhold five percent of winnings, and was introduced Tuesday by Rep. Terry Canales (D). Well there is the problem. Rep Terry Canales (D) --- the problem They got this one backwards. Because the state wants to remain transparent the state should have to assign a security team to big winners and at taxpayer expense. The team should have to stay on and protect the winner
Feb 18, 2015, 3:59 pm - Think - Lottery News

New multi-state lottery game launches SundayReply
To answer a question that some people asked...the jackpot prize is a graduated annuity over 30 years or lump sum of a reduced amount - per the Florida lottery website: http://www.flalottery.com/mmc-howToPlay.do (look under How to Win ). The rules/payouts will be the same for all states. I'll play for a few drawings, but honestly, the top prize being paid over 30 years as a graduated annuity is not a that great especially if there is more than winner. Then the top prize is split among all top
Oct 19, 2014, 11:05 pm - gatorsrok - Lottery News

Couple wins $3M jackpot 27 years after wife's numbers last came upReply
Well, my numbers for Mega Millions came up about 12 years ago. I had them written on a sheet of paper in front of me on my desk. I was going to play them even though the jackpot had been hit the previous draw. We were going to be headed to a Christmas party that night, so my ex-wife would pop into my office from time to time. She was dead set against playing the lottery and she saw me looking at the lottery website and the numbers written down in front of me and she ripped into me about how play
Mar 9, 2014, 10:11 am - OldSchoolPa - Lottery News

$247 MILLION: Huge Powerball lottery jackpot set for SaturdayReply
Heard a comedian state, the lottery cost us $169 billion to play but that $169 billion was won by others. It was funny to hear but totally inaccurate.The government,which permits us to gamble, gets a sizeable chunk of the proceeds.Also question the accuracy of that $169 billion amount. Still appreciate the discussion that the lump-sum option is the best choice since it may relieve your family from inheritance taxes which are substantial,along with the yearly tax burden of an annuity. Eve
Feb 7, 2014, 4:16 pm - Gleno - Lottery News

$344 MILLION: Mega Millions lottery jackpot skyrocketsReply
I agree with most that say always take the cash. The annuity is mainly a gimmick to inflate the Jackpot for sales and marketing purposes...and it works! It may have made more sense in the old days, with state lottos and when jackpots were smaller. With a smaller jackpot under $10M, there is some tax advantage with smaller annual payments falling under the top tax bracket. But now with huge jackpots of a few hundred million, that disappears. I agree that it can seem scary when the jackpo
Dec 9, 2013, 11:34 am - Jon D - Lottery News

What is your state daily Keno prize max payouts..Reply
Well that is awesome you won that amount in Keno. I gave up playing powerball due to the fact east coast folks have a better chance winning that jackpot.. Reason is East coast folks buy 85% possible combonations and west coast only buys 15% possible numbers.. So i quit playing it and WA state will never see a Powerball winner.. I think Oregon only had 2 Powerball winners and last win was 2007.. Daniel Gannon Oregon March 17, 2007 Cash $182,700,000.00 annuity $88,067,283.39 cash
Oct 14, 2013, 7:09 pm - tony869 - Lottery Discussion Forum