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Why Do You Think Lottery Winners Always Take The Cash Option?Reply
I have to reasonably believe that most folks want the massive sum to have complete financial control over and spend or share as they please. I agree with that completely. The J.G. Wentworth commercial of Its my money and I want it now works quite well for this lotto player. I understand your point on 7.1 million per year but, as we both know, the math to go down that road doesn't make reasonable sound financial advice based on unknown future mandates that would come your way. The biggest is taxa
Feb 11, 2014, 1:04 pm - CDanaT - Lottery Discussion Forum

$284 MILLION: Powerball lottery jackpot rolls againReply
Annuity $284,000,000 Cash $162,700,000 Lump-sum cash: $162,700,000 - 25% Federal Tax = - $40,675,000 = $122,025,000 The states like PA that don't take state tax on lottery wins are the best. But even the once that take the most state tax on lottery wins still walk away with well over 100 mill after cash option, federal, and state taxes.
Feb 9, 2014, 6:15 pm - Party1377 - Lottery News

California delivery driver claims half of $648 million jackpotReply
This is big news to me about the retro-active tax on NJ lottery winners! The things we lean on Lottery Post is amazing. Question the percent of rich people that play the lottery. Willing to bet that it's a small percentage. Then again, Yours Truly, may be wrong. Reading the comments about lump-sum vs annuity payments,seems most regular folks are very savy about managing their money. Each month tally up my lottery spending,winnings, and running at a loss. Too ashamed to state how much was
Jan 7, 2014, 10:16 am - Gleno - Lottery News

California Lottery is booming, thanks to higher payoutsReply
How about New Jersey? If you look at the top 25 largest jackpots (by annuity value) in the United States, New Jersey produced 6 winners while California produced 3 including the latest from San Jose. Keep in mind, New Jersey has about 1/4 the population of California. https://www.lotterypost.com/news/269858 New Jersey - 6 winners Illinois - 3 winners Georgia - 3 winners New York - 2 winners I don't see anything unusual with California producing 3 winners.
Jan 6, 2014, 12:47 pm - mrcraft - Lottery News

$636 Million Mega Millions jackpot split by 2 ticketsReply
Once again, you're just doing a simplistic analysis of things like individual intervals or totals, not looking at the overall sales activity and trends. Just simply looking at the $1.5 Billion total of the record 2012 draw is ignoring the circumstances of that draw. You can deny the graph which is as plain as day, but you can't deny the facts: For 2012 record run, it took 18 draws for the sales to reach a level that significantly exceeded the odds on the game for a likely winner, $191M, fo
Dec 20, 2013, 11:04 am - Jon D - Lottery News

$586 MILLION: Mega Millions jackpot climbs toward a new recordReply
LOL!!! I can see the MUSL folks going nuts with a that many 5+0 winners. Powerball once yeilded 110 second prize winners in a drawing. Quoting Wikipedia: The Powerball drawing on March 30, 2005 produced 110 second-prize winners. The total payout to these winners was $19,400,000, with 89 winners each receiving $100,000. The other 21 winners received $500,000, as they were Power Play selections. MUSL officials initially suspected fraud or a reporting error. However, all 110 w
Dec 17, 2013, 12:55 am - Kumo - Lottery News

I knew Pedro Quezada was a dinkhead and blow all that money..
I knew he was going to blow almost all that money when he come forward to fast without thinking and consulting with finanical team and etc! This is why if i ever win the big one i will go for the 30 year payout and consult with legal team and others.. You will get more if you pick the 30 year payout in either games.. State: Washington Drawing Date: Wed, Nov 13, 2013 Jackpot: $110,000,000 Federal Tax: 25% State Tax: No state tax on lottery prizes Report: Pow
Nov 10, 2013, 2:55 pm - tony869 - Lottery Discussion Forum

How BIG can a lottery pool be?Reply
I don't get it. What would be the incentive to buy the ticket at cash value? 10/12/13 MM advertised $22 mil JP, $15 mil cash value Pool of 1500 people kick in $10k apiece to get $10k back from lottery immediately OR get 1/1500th of the annuity of $846,154. At $564.10 per year, you don't don't get your $10k back until year 18. The 26 payments will get you a total of $14,666.60 for an annualized return of 1.48%. Oh, and that's assuming that your belief that somehow this dodges taxes is
Oct 9, 2013, 8:40 pm - Six balls - Lottery Discussion Forum

$189 MILLION: Mega Millions jackpot rolls againReply
I doubt it. One would need to be a fool to play a game with longer odds and no added value as regularly as one plays a game with shorter odds, even if the shorter odds were astronomical already. Granted, there are lots of fools, something recent trends in lotterys demonstrate, but I expect this game to wither and die. It has certainly withered. The Pennsylvania lottery tried exactly this approach with their lotto game, and as I recall, it spent close to a year rolling over continuously wit
Sep 28, 2013, 11:52 am - Prob988 - Lottery News

Lottery winner who blew $14.5M happy to be working in cookie factoryReply
You must be smoking something or you didn't do the math, or both. Im not sure how you define set for life or insane cost of living but millions of people have retired with SSI only, getting a monthly check for $700- $1100 per month and they manage to get by for the rest of their life because that's all they have. If a person has $5 million after taxes and can get a 5% return on that money they will get $250k annually, which after a 39% tax translates into a $12,708. check PER MONTH. If I
Aug 28, 2013, 9:51 pm - Ronnie316 - Lottery News