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Retired Brooklyn bus driver hits $7M Cash4Life jackpotReply
Congratulations to the retired bus driver! but once again the lottery officials just love to exaggerate what the winner actually received. The annuity prize value is $7 million and the cash lump option is $4.36 million BEFORE taxes. The New York lottery conveniently mentioned that his take home pay after taxes was $4.3 million when in fact it will be just a bit over $2 million after all federal and state taxes are paid. Too bad the NY lottery won't be held accountable for the entire $4.3 mill
Jan 29, 2015, 4:36 pm - Drenick1 - Lottery News

You Just Won The Lottery!Reply
I just called my local lottery office here in Central California. I asked Robert, an employee there, about the sixty day window to decide on the choice of Lump Sum or the Annuity. He finally figured out what I was talking about and said, The clock starts when they scan the winning ticket at their office . When I do win I will have plenty more questions for Robert.
Jan 27, 2015, 3:31 pm - music* - Lottery Discussion Forum

Retired NY principal claims $326M lottery jackpotReply
At 80 years young, I would venture to guess that he will take the lump sum thus bypassing the 30-year annuity. The cash payout is $197 million BEFORE any taxes are deducted and his net take home pay after all New York state and local tax obligations are met will be roughly $95 million. I hope he has many wonderful years left to enjoy his windfall.
Jan 12, 2015, 1:56 pm - Drenick1 - Lottery News

Mega Millions record amount ?Reply
Just for reference, the top 5 MegaMillions jackpots (annuity) are as follows: $656m, $648m, $414m, $390m and $380m. The 25th highest is $295m. If it lasts another 5-6 draws it should be in competition for the #1 spot.
Jan 11, 2015, 7:19 am - ttech10 - Lottery Discussion Forum

MegaMillions is ready to be won againReply
Interesting. I don't usually do the math between the cash and annuity. I know it fluctuates depending on interest rates. I just check the amount of the cash, subtract the fed tax, and calculate how much money I can spend each year for the next 25 years if I win. Good eye.
Jan 8, 2015, 2:13 pm - rcbbuckeye - Lottery Discussion Forum

Claiming as a legal entity
The Louisiana Lottery has this on it's site about claiming a winning ticket as a legal entity(trust, LLC, etc.) I thought this was interesting so I thought I'd pass it on. The prize on a winning lottery ticket may be split among a group of ticket owners; however only one prize check is issued. The prize check is issued to either one person or legal entity (partnership, trust, etc.). Each member of the group provides a completed IRS Form W-9 for tax reporting purposes at the time of the cla
Dec 30, 2014, 11:23 pm - PrisonerSix - Lottery Discussion Forum

First winner of big Illinois Lotto jackpot didn't let riches change himReply
Good story. His friend like most others were delusional thinking he received the ENTIRE $40 million up front with absolutely no taxes. He ended up splitting the $40 million annuity with his family 4 ways giving each a pre-tax yearly amount of $500k for 20 years. I am sure his father , brother and sister all had enjoyed their lives as well thanks to their brother's/son generosity.
Dec 27, 2014, 4:17 pm - Drenick1 - Lottery News

First winner of big Illinois Lotto jackpot didn't let riches change himReply
Mike Wittkowski , I hope you win big again. Death threats and bomb threats the first couple of months? There are crazy people out there. I would love to go public for the sake of all the Lottery employees across the nation. But reading about the crazies makes me cautious. Good for him that he survived and thrived on the annuity payment plan. Mike shared with his family.
Dec 27, 2014, 1:16 pm - music* - Lottery News

Monopoly Millionaires gameReply
Thank you again for the update. One question, what do you mean when you say that they want to carry over remainder from this Friday's drawing. Does that mean the number of millionaires will stay at 22 when re-released in January or does it reset to 1. Also, it looks like the Las Vegas drawing scheduled for 1/6/15 is still on. I don't know how sales will not plummet if the overall payout structure is diminished as drastically as they are proposing. The 1 in 70MM odds for a $5MM annuity is pretty
Dec 24, 2014, 7:20 pm - gatorsrok - Lottery Discussion Forum

States pull the plug on Monopoly Millionaires' ClubReply
Geez, wonder why this game didn't work? Let's see... ...$5 price tag ...25 Million dollar annuity ...nobody wins a mill unless somebody wins the annuity ...can't pick the monopoly property ...and probably the 52 ball matrix had a bit to do with it. Still there was the chance to be on TV! Trainwreck? More like a clusterf*rt, if you ask me. G
Dec 12, 2014, 9:57 pm - garyo1954 - Lottery News