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Lottery winner facing tax fraud trial diesReply
Do ya think the gov't is trying to get a lot here in taxes sold the annuity to Singer Asset and Finance for two lump sums, $1.59 million to Alex Toth and $1.49 million to Rhoda Toth. In total, the agreement states, Rhoda Toth owes the government $1.1 million and her husband owed $1.4 million You better watch out you better not cry the tax man is coming to town.
Apr 26, 2008, 10:50 pm - JAP69 - Lottery News

Lottery winner facing tax fraud trial diesReply
I sincerely hope those members here who are fond of making how to beat the tax man posts see this article. Also I hope people take note of this from the article: In 1999, they sold the annuity to Singer Asset and Finance for two lumpsums, $1.59 million to Alex Toth and $1.49 million to Rhoda Toth.
Apr 26, 2008, 9:56 am - Coin Toss - Lottery News

who know the statistics of lottery winners who go brokeReply
GamerMom It's not that easy. When people take an annuity they sometimes wind up selling it a lump sum to a company that buys annuities. When they do that though, they get pennies on the dollar. Therre's a thread in in the News forum right now that mentions a couple who did this. (The thread is about a tax fraud case, but mentions it). https://www.lotterypost.com/news/174058
Apr 26, 2008, 9:43 am - Coin Toss - Lottery Discussion Forum

Only way to get money in Pick 3Reply
Ladies and Gentlemen, Jackpot the chimp: Jackpot says that's not his real name but he wishes to remain anonymous! He someytimes plays QP's, and in the picutre above he is contemplating cash option or annuity. He also would like to warn everyone not to get involved in any kockmaimee schemes to beat the tax people.
Apr 23, 2008, 6:54 pm - Coin Toss - Lottery Discussion Forum

Unemployed N.Y. Man Wins $14 Million LotteryReply
Oh, sorry to hear about the heart problems GamerMom. My sister is a heart nurse in Dallas, or was - she's out of patient care and works in quality control. The heart is not something to take lightly. Good plan on your part. For me, I don't have any such long term problems that would weigh one way or the other for my decision. I've kind of looked at both options, and I find that my investment guru could probably make as much annually on average with the lump sum as the annuity payments -
Apr 22, 2008, 10:11 pm - Piaceri - Lottery News

Unemployed N.Y. Man Wins $14 Million LotteryReply
No, I think i would take the annuity for a piece of mind for long term security after I quit my job. I have a congenital heart defect, something called Tetrology of Fallot, and I don't think anyone would ever sell me medical coverage here in these United States where we are sooo lucky to not have universal medical care. I would need to ensure that I have money coming in for a long time in case i ever needed a heart valve or other major heart surgery. Would you pick the lump sum and why?
Apr 22, 2008, 9:38 pm - GamerMom - Lottery News

powerball changesReply
The last change to Powerball was jutified because there were too many jackpots being hit; thus the increase in ball numbers. To passify the players, they slightly raised the prizes and dreamed up that dumb annuity spread. Once again the passifier would be larger jackpots. The price for higher jackpots? More balls, thus greater odds. You can't get higher jackpots without higher odds. Baisic fact of life. I would like to see them be compatible with MegMillion's prize amounts, while keeping the pow
Apr 22, 2008, 7:32 pm - MeFirstYouLast - Lottery Discussion Forum

At what jackpot will you continue or quit working?Reply
I thought subject was At what Jackpot will you continue or quit working? and if somebody won a $1 million jackpot, I'm pretty sure a financial adviser will tell them they must pay state and federal taxes. The amount they would need to invest for future income has to be factored in so even if the prize is $1 million, the check will be less. According to the Ohio website the current MM jackpot is $37 million and the estimated cash value ($23.2 million) represents the sum of the first annuity i
Apr 14, 2008, 6:02 pm - Stack47 - Lottery Discussion Forum

What's the cut off point for you?Reply
I play EVERY draw for MM and PB...so size of jackpot doesn't matter for me in that regard. Also, I don't care what the current jackpot is for Florida, Texas, or California Super- lottos as they increase fast enough on each rollover to justify me buying multi draw tickets whenever I pass through those states. But for all other slowly increasing lottos like IL, IN, WI, MI, etc, I only play them when they are above 10 million annuitized jackpot level. That is not to say that I wouldn't be happy win
Mar 17, 2008, 7:31 am - OldSchoolPa - Lottery Discussion Forum

New Florida Lotto playslips a bother to someReply
If there are multiple winners, the base jackpot, the $2 jackpot prize pool and the $3 jackpot prize pool will be shared among winners who are eligible for that prize pool. How can it get any more simple? Each level is a separate pari-mutuel prize, so it gets split among every winner who played that level. As a long-term average they can expect to collect almost $46 million for each time they have to pay the $25 million annuity or $15 million in cash. I think that gives them a decent shot
Mar 14, 2008, 9:29 pm - KY Floyd - Lottery News