$1,080 Billion powerball lotto winner in the USA - page 3.

KTChampions

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Quote from: tusandii on July 22, 2023, 03:08:56 AM

Quote from: KTChampions on July 21, 2023, 06:06:32 PM

Cryptocurrencies and the Internet really make it possible to avoid crazy laws, but unfortunately every year we see that regulation is increasing here and there. Such monstrous taxes are a good reminder to all crypto enthusiasts of what we are fighting against and what will happen to us if we lose.

Cryptocurrency and crypto-based online gambling is one strong evidence of the rapid development of the internet and technology.
But some countries take advantage of this situation to be able to make money by imposing large taxes.
Although not all countries, but I'm sure that someday there will be tax regulations that don't make sense in each country with policies that might underlie gambling permits and the use of cryptocurrency.

If gambling is completely decentralized - for example, the entire lottery will be in a smart contract that will be executed in a decentralized environment, then regulators will have a big problem getting to the lucky winners to tax them. And I think that the generation that participates in lotteries where the state takes 80-90% of the money for itself will end very quickly.

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

I don't play it, but if I did and actually won the jackpot I would opt for the payout over the next 20 years so I cannot get it all and get the impulse to start buying everything I see. So many lottery winners go broke fast and it's insane.

acroman08

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Quote from: Japinat on July 21, 2023, 08:56:28 AM

But since the winner came from the state of California where they don't tax lottery winners, that specific winner will only have to pay the federal tax.

so, I read the article you shared and correct me if I am wrong. so the lottery winner will automatically only get half the lotto winnings if they choose one lump sum(pre-taxed), and if the lottery winner chose one lump sum, apart from only getting half of the total winning a 24% federal tax will also be deducted to the winnings he got from choosing the half lump sum?

Quote from: Beparanf on July 21, 2023, 09:15:59 AM

-snip

my bad if it sounded like I am trying to argue, I was actually confused(as explained in my previous post.)

coin-investor

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Quote from: Blitzboy on July 21, 2023, 04:28:18 PM

If you win a lot of money in the lottery, you're bound to make headlines, right? To determine what is true and what is not, all we can do is examine the surface. The whole affair is nearly comical to watch unfold.

If you win the lottery, you can receive your payout all at once, or spread it out over 29 years. The lump amount is typically roughly 50% of the prize. The announced jackpot is the whole amount you will receive if you select the annuity option; this is the case regardless of taxes. However, taxes are a another issue altogether, and they will consume a sizable portion of your gains irrespective of the path you select.

Its incredible that people still find the lottery fascinating after all these factors have been considered. Something intriguing happens when you weigh the risk of losing one dollar against the infinitesimal possibility of multiplying it by a billion.

You can't take that away from people it will continue to fascinate people as long as there are winners who win millions of dollars they are hoping to be the next jackpot winner the prize is something that they will not have even if they work in office for other whole time so they want to take a shot, they ignore the government cut and and even if you will only receive 50% because you can invest the money or if you have an existing business you can expand it.

The cost of one lottery ticket here in my country is $0.45 to win a potential $500k or more so why not take a shot as long as the drawing is fair there are always winners people will take opportunities to bet in lotteries.

tusandii

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Quote from: KTChampions on July 21, 2023, 06:06:32 PM

Quote from: tusandii on July 21, 2023, 10:25:43 AM

Quote from: KTChampions on July 21, 2023, 09:30:24 AM

50% of the winnings are taken by the state Grin

I laugh at this scam every year. If I'm not mistaken, the organizers of the lottery pay significant taxes initially + the winner pays more than half of the taxes, so in total, the state takes 80-90% of the entire prize pool (I don't remember the exact amount). If this is not a scam, then what is it?

There are some people who are lucky by winning the jackpot on the lottery bet and not all of them are taxed excessively by the state which reaches 50%.
Maybe some countries implement a tax system for every gambler who wins big, but only 10% to 20%, not 50% because if touch half the winnings it's not a tax but more appropriate to call it extortion.
In my country there is no such tax system but the prohibition for gambling is set by law regulated, it's just that we as gamblers can still gamble online and secretly without worrying about being found out by the government when gambling on gambling sites crypto.

Cryptocurrencies and the Internet really make it possible to avoid crazy laws, but unfortunately every year we see that regulation is increasing here and there. Such monstrous taxes are a good reminder to all crypto enthusiasts of what we are fighting against and what will happen to us if we lose.

Cryptocurrency and crypto-based online gambling is one strong evidence of the rapid development of the internet and technology.
But some countries take advantage of this situation to be able to make money by imposing large taxes.
Although not all countries, but I'm sure that someday there will be tax regulations that don't make sense in each country with policies that might underlie gambling permits and the use of cryptocurrency.

ethereumhunter

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I think the winner is really the lucky person to get that big prize. And even though the winner can only get half of his total winnings due to taxes, that's also okay because it's still big money that can be hard to come by in the lottery. It will be an unforgettable day for the winner because being a winner in the lottery game requires really high luck and he got it.

The news will make many people even more interested in buying lottery tickets and hoping they can become the next winner. But who is the winner? Can the winner get the money?

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

I can't really understand the mindset of most lottery winners. If they opted out for installments in 20 or whatever years time it is, they would still get a huge sum every year. If you are not really looking to splurge in the money, you are basically set for life - even for the next generation of your family. The taxes is also really eating out a lot of that prize, too, so the safest and most sensible option really is to get it in installments, and just spend whatever it is that you need to stretch what you receive in a year. I'm pretty sure that the winner will buy cars, expensive items, and houses - emphasis on the houses because most lottery winners think that their money will never run out.

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Here even in our country on which lottery winners would only just take home at least 60-70% of the total amount due to taxation or other deductions which do really suck but hitting up those jackpots
and you are in the foot of those winners then you would really be having no choice but to accept your fate and even those deductions are inhuman then you would really be still accepting it because it do
still count as millions. It is really that amazing to see that after a long time on having that 1B usd powerball jackpot had already hit up and those deductions arent really that a shocking thing anymore.
Sometimes i do really have those daydreaming on what if im the one who do able to hit up? The main things in my mind is on buying up some a couple of lambos then some good looking houses
and shopping spree. lol Cool

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What great luck indeed. As most say and one of the famous statements or quotes regarding the chances of winning the lottery, it's even more chance to get hit by lightning than winning a lottery lol. I can't imagine the feeling of these people who won big starting from what's the real deal and how to manage the winning money.

Surely, those plans prior to winning won't be followed out of excitement holding that kind of huge money.

Quote from: acroman08 on July 21, 2023, 04:55:32 AM

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

For sure, most lottery bettors already know the term and are just fine with it once they won.

To them, what matter here is winning that lottery. A half amount as a reward prize is still an imaginary amount that anyone dreams about.

KTChampions

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Quote from: tusandii on July 21, 2023, 10:25:43 AM

Quote from: KTChampions on July 21, 2023, 09:30:24 AM

50% of the winnings are taken by the state Grin

I laugh at this scam every year. If I'm not mistaken, the organizers of the lottery pay significant taxes initially + the winner pays more than half of the taxes, so in total, the state takes 80-90% of the entire prize pool (I don't remember the exact amount). If this is not a scam, then what is it?

There are some people who are lucky by winning the jackpot on the lottery bet and not all of them are taxed excessively by the state which reaches 50%.
Maybe some countries implement a tax system for every gambler who wins big, but only 10% to 20%, not 50% because if touch half the winnings it's not a tax but more appropriate to call it extortion.
In my country there is no such tax system but the prohibition for gambling is set by law regulated, it's just that we as gamblers can still gamble online and secretly without worrying about being found out by the government when gambling on gambling sites crypto.

Cryptocurrencies and the Internet really make it possible to avoid crazy laws, but unfortunately every year we see that regulation is increasing here and there. Such monstrous taxes are a good reminder to all crypto enthusiasts of what we are fighting against and what will happen to us if we lose.

Blitzboy

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If you win a lot of money in the lottery, you're bound to make headlines, right? To determine what is true and what is not, all we can do is examine the surface. The whole affair is nearly comical to watch unfold.

If you win the lottery, you can receive your payout all at once, or spread it out over 29 years. The lump amount is typically roughly 50% of the prize. The announced jackpot is the whole amount you will receive if you select the annuity option; this is the case regardless of taxes. However, taxes are a another issue altogether, and they will consume a sizable portion of your gains irrespective of the path you select.

Its incredible that people still find the lottery fascinating after all these factors have been considered. Something intriguing happens when you weigh the risk of losing one dollar against the infinitesimal possibility of multiplying it by a billion.

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Quote from: iv4n on July 21, 2023, 11:36:47 AM

$1,080 Billion lotto win! And we (in some threads) discuss why people play the lottery!

Well, this is why people love lotteries... The higher the prize more people are playing, making the prize pool greater and greater. As some of the members said, this guy settled himself and his family for generations. It's always nice to someone hit a huge prize, and of course, we hope that our moment will come as well!

Exactly. It's the prospect of winning big with a small entry fee that gives this people the idea that "their ticket to a life-changing jackpot is just 2 dollars away". Without realizing the fact that it's mostly exploitative cause they feed on the poor people's money rather than the rich ones, and at the same time the possibility of you winning in the lottery is less likely than actually getting struck twice by lightning. This added statistic of unlikeliness is also one of the things that sensationalizes the winnings of a single lottery player, which itself creates a feedback loop of people hoping that they'd get their chance (like you lol) someday, when as a matter of fact it just wouldn't happen at all. So while the lottery is good and all that, You shouldn't really hold on to it every time you make a bet unless you want to be disappointed that is.

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Quote from: Questat on July 21, 2023, 10:32:34 AM

Quote from: btc_angela on July 21, 2023, 09:44:21 AM

Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Yeah, really hard to choose if you are going to get the lump sum or not. But for them, I would go with it, so that there will be no hassle and then you can think ahead what you gonna do with that money.

Because if not, then you will have to wait like every month to get the money and it might take years before you can get all your winnings. And for sure, I think majority here will choose lump sum? Right guys?

Both have its own pros and cons whether they choose to have the lump sum or via installment. But for me, it's much better if I will get the lump sum so that I will not be thinking about what is left and so I can have a proper assessment on what I have to do with it. Besides, 1 Billion dollars is quite a big amount to think but for the winner, that is not the same figure she's getting because taxes are also hefty in US and I guess she will only have a clean 65% of what she won.

Same here, I wouldn't worry about the tax, still that is a big sum of money to begin with, even if I get 65% of what I won, I will be happy about that. But damn, you really have to be extremely lucky to win that huge amount.

Although here in my country, there's also one winner in our lottery with almost half a billion of our currency. So those guys are really really very fortunate to win that one jackpot that will change their lives forever. Not just for them, if they know how to take care of it, maybe the next generations of their kids will enjoy that money.

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

i have watched this video and am touched by the victory that this woman got, she used all the luck in her life in just 1 day and won an enormous jackpot, the thing that i highlight is how could she exposed the identity of this woman, she won the lottery and surely she will not be safe and comfortable again when her face is exposed, i'm quite curious about what will happen to her. i hope she and her family stay safe because the value of her victory really makes people feel great envy, congrats to that woman.

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Honestly through and through there's no real merit to getting your money in lump sum rather than receiving it in payment plans. First and foremost the latter ensures that you have consistent cashflow until the whole stuff is paid out, and yeah you also get to avoid more taxes. I saw someone win a $1.2 billion powerball prize, he took it in lump sum and the taxes came up to about $800 million dollars which means he only gets to take $400 million home. Oh well, it's people thinking irrationally in the heat of the moment. Let's just hope and pray whoever won this stupendous amount of money gets to keep it as much as possible you know. Cause there's a tendency for these lottery winners to blow their cash away in just a short amount of time.

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

Is this even true, $1080 Billion jackpot which does not seem true as it is impossible for anyone to giveaway that kind of money as it is impossible to raise that kind of money selling tickets, even if he gets $251 Billion, that person will become the richest person in the world which does not bode well with any fortune as the richest person is Elon Musk who has a wealth of $250 Billion, if it is $1080 million and the ticket seller gets a million dollar as bonus, then it makes sense.

Edit: Its a $1 Billion lottery and not $1080 Billion Grin

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

This news is just a rumor until it is confirmed by the Powerball lotto. A 50% tax is exploitative, it should be lower in my country. Still, I will not consider installment payments because nothing is certain. Half of the money is enough to settle me and my family for life. But the sad part of this story is usually the winner will blow all the money on extravagant spending. News of the winner buying luxury houses and cars will become the order of the day. There will be heavy spending on top hotel lodgings, flying private jets, and sailing on private yachts. After a few years they end up selling all they have acquired, become indebted, and end up living miserable lives.

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That's okay if the winner will receive almost half of the total jackpot due to taxes instead of having it on installment plan. Because the value of it will be eaten and lowered down by the inflation over time.

And if there's no announcement yet on who's the winner, I guess it's for the good of that woman if she's claiming she had won. I think that she just got carried over because of her excitement and with such amount, I might not able to control myself as well.

Anyway, this seems to be a year of many lucky winners of jackpots in the lotteries.

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Quote from: acroman08 on July 21, 2023, 04:55:32 AM

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Congratulations to the winner.
I am here hoping that if the there is going to be any public presentation of the prize to the winner, the organization should find a way to make them anonymously - maybe wear a facemask or something.

I like what you have suggested that the winner shouldn't take the prize in one lump sum it is good financial advice, I also hope that the winner has good financial advisors close. He or she needs them now more than ever.

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Quote from: Stepstowealth on July 21, 2023, 08:06:55 AM

Quote from: acroman08 on July 21, 2023, 04:55:32 AM

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

The half of the total price money that she will receive is still very good and enough to get her a better life and change her life for good if it is not wasted and squandered on liabilities. Even the price money for the mart where the ticket was sold is a good amount for the owners to improve and take their business to the next level. Watching the video and getting more information about the lotto, I like that there is a percentage from the sale of every ticket that is donated to public education, it gives the lotto a little more meaning to me. For the Lady that won, she is extremely lucky.

Well, taxes in some countries are just too high not to mention gambling restrictions and regulation. Accepting half of it will indeed be good but to think of how huge would be deducted on your toal winning is just sad. But yes, it would be better to just be grateful. On the other hand it won't happen on a daily basis and not once to everyone. Best thing is to think of a way to not use it on things which would consume all of the won prize. A business or investment would be a good choice but best thing to do is to consult a financial advisor in order to put things right. Such thing is also hard to earn in web3 platforms 'coz there are more players on land based lotteries which makes the prize pool bigger.

Topic: $1,080 Billion powerball lotto winner in the USA - page 3. (Read 554 times)