Topic: $1,080 Billion powerball lotto winner in the USA (Read 484 times)

The Mega Millions jackpot for today has also risen to $1.05 billion. This will be the 4th largest jackpot ever for Mega. However after deducting the taxes and others, the winner will only receive a fraction of this amount. This is how it works:

Total jackpot: $1,050 million
Lump Sum payment: $527.9 million
After Federal taxes (37%): $332.5 million
After state income tax (10.9% in New York): $275 million

That's odd because I seriously thought that there is only one lucky winner in this jackpot prize but the article you laid is saying the opposite thing. And so I checked the link and found out that it's a legitimate source because it's the Fox LA who published that article.

Well, let's see in the following days or weeks about what would be the development of this case because this will take time now as the authorities of powerball lotto will check it thoroughly if there are indeed more winner in their prize.

In a recent article that I've read, Nabor Herrera was already presented a million dollar check on July 19 and it was also said that the winner is not yet showing his/her shadow, and so it's not really clear if that woman in the video was really the winner or was it just a coincidence that is why the press thought that she was the poweball jackpot winner.

And here's what I found interesting because it looks like that there are more winners to this specific ticket;

Not only was the winning ticket sold in Los Angeles, but seven other winning tickets were sold in California matching five of the winning numbers. Those tickets were sold at the following locations:

Speedway: 14360 Francisquito Avenue, La Puente, CA 91746
7-Eleven: 2620 South Lake Boulevard, South Lake Tahoe, CA 96150
7-Eleven: 3555 West Temple Street, Los Angeles, CA 90004
7-Eleven: 1590 Franklin Street, Santa Clara, CA 95050
Safeway: 4950 Mission Street, San Francisco, CA 94112
Mobil: 17011 Lassen Street, Northridge, CA 91325
Steve's Liquors: 583 West Tennyson Road, Hayward, CA 94544

Source: https://www.foxla.com/news/powerball-jackpot-downtown-la-store-owner-reacts-to-selling-winning-ticket

Nabor Herrera is a man and has no relation to the woman who was filmed celebrating. The woman in the video has not been identified so it is not clear why she did this but it was the store owners who called her out as a fraud and said she was looking for attention.


It can be confusing but the way the OP wrote is is still correct. In some countries they use period and comma separators in the opposite way that you might be used to. Here is a Wikipedia article for reference. https://en.wikipedia.org/wiki/Decimal_separator

More and more people will believe that winning a lottery ticket is not impossible because some people have won it. And even though the news is fake, people still believe it because other places have also won it so they still buy the lottery ticket. With that low price, people hope they can win and always budget some money to buy lottery tickets. Buying a lottery ticket and winning it has become a dream for many people so they are still willing to buy the ticket.

Here is my conclusion: Miss. Nabor Herrera was not happy with the $1 million reward (she will get around half of that after deducting the federal and state income tax) and wanted the entire pie to her own. She was hoping that if by chance the real winner doesn't come up, then she can claim the win for herself. Everyone is talking about the other scenario, that she just want to get some media publicity. But personally I think there is more to it. She is trying to cheat Powerball and want to pocket the $1.080 billion reward using unfair means.

Nabor Herrera is actually the owner of Las Palmitas mini market, who sold the winning ticket to whoever. For selling the number the lottery will give you a million dollars, but I don't think that will be the only thing. From now on you will have more people going to buy because they will believe that buying lottery numbers there will bring them 'luck', which is rubbish, but buying lottery numbers is pretty rubbish as well, so a lot of lottery buyers have those behaviours.

Are we being played? I was previously not interested in this discussion, but after reading and reading that in fact there are those who lead to opinion there is another possibility that says that his victory was faked, just to seek popularity on social media, this irritates me if that is true, and yes indirectly it is public fraud, even though there is nothing to lose in this case, but that is if it is let there are how many more people will give fake confessions like that to gain popularity, this will be out of the ordinary, because today he is gaining popularity on social media.

But to conclude, I don't know which element to take because I haven't found any follow-up on this lottery winning case, that's a pretty amazing number and can change fate quickly, but I'm still blind to the results.

Or is there another possibility that this is a marketing strategy from a lottery provider? it seems that the news of this has made them always have a lot of orders.?

What sort of BS is going on with this one? At first a lady (Nabor Herrera from Los Angeles) came out on media and claimed that she had won the jackpot ($1,080 million) and then some of her own relatives clarified later that she had faked the win just to get a few social media likes. If what they are saying is true, then the fraudster should be arrested and prosecuted for lying. And in this case it's not just lying, but also a case of fraud. How do we know that she did this just to get social media likes? What if she was planning to steal the jackpot?

I dont believe its possible for any body in this time and age to buy a lottery ticket and throw it aside and possibly forget about it, even if the person is a multi millionaire already and seem to have  no need for money, why did he or she play the lottery in the first place? is it not because he or she is interested in winning?.
There have never been a time that i can remember that it is said that someone played the lottery and in totality forgot he or she played the lottery, and did not claim their winning until the specified time elapsed, if it was on record that this has happened before, then we can consider it possible to happen again.

Ha-ha, don't be so negative my friend, I believe that if we are to start searching, we will find lottery winners who are in today living a life not as bad as you described, yeah, majority of lottery winners do most times end up wasting their entire winning and return back to being poor, but I believe that somehow somewhere, there are some winners who are really living a good life courtesy of the money they won from the lottery and making good investments with it.
But then, if it really be true that every lottery winner ends as you claim, which I don't believe by the way, it simply means that there is something to that money won from the lottery that the ordinary eye can not see.

I feel like the worst kind of situation would be the winner not realizing they won, which is not really impossible  considering some people just buy it and throw it aside as well. In the end whoever won this, their life may change but not for the better.

If you have seen any study on the lottery winners, you will see that a lot of them end up being poor and even in worse situation than before because they make stupid decisions and that causes them to be not doing that great. They will have to be forced to get their name out eventually, but when it does, their life will be terrible. They will be more like begging family members and friends and all that together and that's going to change their life for the worse. This isn't a business person making 400 million, this is lottery. A lot of money is good, but a lot of money all at the same time is terrible.

Yes, I also saw this video on Instagram and I think it is stupid for someone to film this and then to post this on social media to get some "likes".... this action is putting someone's life in danger, because people will "kill" to get their hands on that kind of money.

This will be even more stupid if she faked this to get attention... because she will put her own life in danger by doing this. In any way.... good luck to the winner, it is life changing for her and all her family and friends. 

Look at how the store was also putting banner "billionaire made here"

https://www.wsj.com/video/powerball-ticket-sold-in-los-angeles-wins-1-billion-jackpot/E7F4D7DC-5D53-4623-B17B-FB8C6ACC25F2.html

I guess what? The popularity of the store was boosting a lot. Many people would always be buying lottery from that store. That's the main rule for winning the lottery. Never try to reveal your face in public and tell others if you have won lottery. She can hire an accountant to help her with it instead of claiming it by herself.

I can only hope that he will use all of money acquired by her after tax wisely. She may live in luxury after this.

The winner will have to pay tax on it, but the government has a vested interest in winning this lottery. Because Lottery Association statistics say only one person has a chance of winning the Powerball jackpot. And Edwin Castro is the super-lucky winner. Even if you say too much, it seems less. Also the reason for loss of confidence in lottery is that local people are suffering financially by falling into lottery trap. In this month-long fair, gambling called lottery is going on every day under the name of raffle draw.

Yeah, but perhaps it's normal when the winner finds out she's the lottery ticket winner, so she goes straight to the shop and shows her winning emotions. And she does need extra security to escort her from the house, pick up the money, deposit the money in the bank, and until she gets home again, no bad person will stalk her or do anything bad to her.

What is certain is that she still has more money even though she has to pay taxes which may not be small either. And that doesn't matter because she is now a rich woman around the people in his neighborhood.

$1.08 billion

You have it written in the description of the same Youtube video you link. Come on, edit the title.

Regarding the news, I am partly happy for her but partly cautious. First because she has shown her face to the cameras and second because it is too big an amount of money. Knowing that 70% of lottery winners end up bankrupt after a few years, I can fear that such an amount could drive people crazy.

The way you've written the amount makes it way too high to be true, I was thinking it is one thousand and eighty billion dollars which is unrealistic, and after reading some of the comments, I realized that what you were trying to write was one billion and 80 million, and you would right that either like this: $1.08b, or: $1,080m, because 1,000 million is equal to 1 billion, and you don't right billion after mentioning how many millions you are talking about.

Anyway, coming back to the lottery, it's actually a huge amount to be won in a lottery and only one out of a million users will be able to get that much I'm pretty sure, now, even if the winner pays a big chunk of it in taxes, she would still have a lot of money to live her live off of it or simply start businesses with it to enjoy the whole life in luxury.

Winning and paying the taxes is fine as long as you spend less compare to what you are winning and in this case, that’s still a hundred of millions which can totally change your life.

Why there’s no confirmation yet about the winners?
This can also be a good business since you also get a reward if your outlet produces the winners, will look into this opportunity in my place and see if its feasible to have such business.

That is true, even if they deduct such taxes, the winner still got a ton of money that will change her life.
Some won't officially disclose the identity of the winner to safeguard her privacy.
But if the winner herself is announcing it to the public, then, that's her problem when some of illegal actors will be after her.
She should have kept it secret, she has no money yet from those winnings. And yet, she's giving her face to the public.
I hope she won't face any trouble claiming her winnings if she's the real winner. Should try to be discreet as she has no idea how those scammers work out there.

^ Definitely right and in fact, it is unfortunate but not uncommon.
Lottery winnings are typically subject to hefty taxes, which can significantly reduce the final amount received by the winner. Opting for a lump sum payment can also result in a reduced amount, as it takes into account the present value of the prize and the taxes that need to be paid upfront. However, winning such a massive amount, even after taxes, would still be life-changing for the lucky individual. I will be keeping an eye out for the official announcement to see who the real winner is and how this amazing story unfolds.

This what could be described as an infectious success for the store owner who sold the winning ticket, one million dollars is no joke amount.

AFAIK half a billion dollars is lot of money that can be used to spread investments to divers sectors leading from crypto to real estate, stocks etc, he shouldn't be in a hurry to take a slump sum so long as he's going to get his full money subsequently. Take a lump slum can put a lot of financial pressure on the lotto company because 1billion dollars taken from an account at ones is enough to make a state face some financial crisis.
A bug congratulations to the winner, looking forward to my own win

The winner can feel cheated because they claim you've won that amount, but you don't get it. You're taxed anyway, which I understand because it's income, but why take additional part of the win if the winner decides to take all the money at once? It's his money after all.
Think what any of you would do if you were given a reward by your boss but did not get the promised money, but instead 10% of it each month because he doesn't have the money to pay you all at once. You'd feel like you're being lied to, right?


That's just called taxes, but really it's a scam. How come in the US you have to pay 45% tax, while in many other countries you just pay 1 income tax on your win which is something like 25-30% and you're done? Scam country if you ask me.

That's how those taxes work.  Not only does the total prize amount get cut if its a lump sum it also gets taxed at the highest bracket.  So in the end the government always wins around 70% given that they take some of the proceeds before that's even established.  The prize is so high so what's the difference to the winner but it truly is criminal.  But hey if ypu don't like it just don't play it's like anything else.

Nah! Nobody would surely hand somebody a Trillion dollars or at least make it as a jackpot prize in a lottery because if that happens and someone will win, he or she would be the first person in the Trillionaire club but even so, the after tax will just make them a couple of a hundred billion dollars worth. Still, the recent lottery winner is just too lucky because apparently, she was the only who won the prize money.

That is what I consider a clickbait. Because at first impression the news lead the reader to believe the winner is going to profit the whole prize, as stated on the news' title, however he ends only with half prize. The correct of such news and the lottery itself would be to report the liquid prize, that is, the sum of money the winner is going to receive for real, subtracting all the taxes. However, maybe it's not interesting for the marketing to say the jackpot winner is going to win only 540$ million dollars prize.

This is very surprising amount and claim. She went full public after winning that much is even more weird. I wouldn't go public even after winning a million dollars in lottery. Billion dollars is unimaginable amount that can save many lives. It would be asking for trouble to go public. Well I am not well informed how American laws work on lottery wins - like I don't know if winner is gonna pay like %20 back. In my country taxes on lottery are terrible and meaningless. But man, I wish I was the one making a billion dollars in just a day.

Not everything as there are still some things which can not be bought by money. Winning the heart of a woman for example. They won't just come to you simply because you have billions now. If the winner is not educated enough, he can always use the money to go to school or he can hire someone that can manage his finances better.

A young person has a lot of desire but an old person can be weak to pursue some things so all that they want to do is to pass their money to someone else but there is no age requirement when lending a help. There is no point of being selfish with all of that money that you won. When you help others, you will also feel good.

That's how those taxes work.  Not only does the total prize amount get cut if its a lump sum it also gets taxed at the highest bracket.  So in the end the government always wins around 70% given that they take some of the proceeds before that's even established.  The prize is so high so what's the difference to the winner but it truly is criminal.  But hey if ypu don't like it just don't play it's like anything else.

Who cares about the taxes when someone has won such a big lottery amount? Do you think that he will not be willing to pay the tax on the winning amount? I think he would be happy paying the taxes and going home with still a lot of money.

By the way, I never feel happy seeing such news where people become millionaires through lotteries and gambling. I always wish that one day I would be such a millionaire gambler but it never happened  

Why every one of us isn't so lucky as him/her who wins millions of dollars 

AND?
Taxes, it's that simple, but the gain is still huge.

It always happens, I don't know about the last $12,100,000 winner of the wsop ME NLH 2023, but years ago, another winner had payment in taxes close to 30% (+-), at Las Vegas, then, also leave another 15% to state of residence.  The prize was something like $7,000,000 but The winner ended up with half of it, tax free.

It is the United States, taxes must be paid, even immigrants must pay taxes even if they are illegal.

Indeed that was my first thought when seeing the title of this thread. I had to click it and investigate because I thought for sure if someone won a trillion dollars in the lottery I would have hear something about it. While winning a billion dollars is still an unbelievable amount, winning a trillion would have been some Hollywood movie stuff.

To be honest, i didn't know about the ins and outs of the lottery and the part of the tax that is charged. however, the money won by the winner is not a small amount of money when converted to our local currency. and this is what is unique about lottery gambling. someone who is lucky, can become a rich person in an instant. but I was surprised, if the tax charged covers half the winnings that should be. even though the amount of winnings is still large, isn't the tax too huge?

By the way, I'm not from the US. question, is the Powerball lottery managed by a state institution. if yes, why is the tax levied too enormous. but if this lottery shop is managed by a private party, isn't that too odd. I don't dare to speculate too far, because I don't know how the judiciary applies there. however, it is highly probable that the taxes imposed have passed the standards set forth in the regulations passed in that country.

Yours is a different scenario, though. You are handling someone else's money on their behalf, whereas those winners handle their own. They think that their money wouldn't run out, while in reality it drains much faster because they are focusing much on their wants and not really their needs. They tend to splurge and buy everything that they think they need and not get the assistance of a financial adviser. Honestly, I wouldn't be able to handle that much money too, and would rather have it kept in the bank and just get me something that I need. Or in a lottery win, just get it in installments and live comfortably and humbly.

Seriously wrong line of thinking at the very start let alone anything else, I can't believe that people even start thinking about that this would be something alright. I have hard time managing money I will just pass along, let alone use someone else's money. Due to my old job 10 years ago, I would have to carry thousands and thousands of dollars from one place to another, not really a big road, just like 500 meters, that's it.

I would still have cold sweats when I faced that and it's really not a good thing to my heart, I would stress so much, finally quit it and living a much relax life right now, health issues still happens but at least no stress. Now you can understand why I would find this type of thing too risky and wouldn't do it.

Elon is known Billionaire, I think that he can still manage to be safe after revealing the winner’s identity since he will still need the extra security even if he claim the reward privately because the people behind the lottery knew well his personal information.

Everyone that participates in lottery knew well about the tax. There’s no sad thing about it and you’re right that winning even fraction of the total prize is still an extraordinary thing to happened on a person entire life.

Winning a lot of money in the lottery game is the dream of many people, but only really lucky people can win it. Others can only watch and decide to keep buying lottery tickets even though winning the lottery takes a long time. Even though his winnings will be deducted from taxes, he still earns a lot of money, and it has exceeded his expectations, and only very lucky people can get it. But the unfortunate thing about the show is that the winner shows himself in public where people can see him. At least, that's what I read from the comments.

You are very right mate, in-fact, I am still short of the right words to really explain how I feel about such an amount of winning, its really unbelievable to say the least, and for having to receive half of the total amount if the winner decides to collect the prize money all at once, I would say that even the half is still much more than a decent amount, though I don't know how much the winner must have spent before winning this amount, but if I was she, I don't mind even if the company say the only amount they be able to pay me at once is $200 million dollars after removing tax and all that, i still will happy with it, such an amount is more than enough for a person like me to live a happy and fulfilling life anywhere in the world.

I was a bit shocked with the title because I thought it will be like 1 Trillion. So, it is $1.08 Billion to be precise.
And here is the article about it for those who don't like going to Youtube which OP has provided.
https://news.yahoo.com/powerball-winning-numbers-revealed-estimated-030302421.html

That's a lot of money.
I would not even know what to do if I am the winner of that kind of amount or it might just give me a heart attack. That guy will probably live the rest of his life in super luxurious things and would probably just invest in popular assets to keep the money safe. I am a bit jealous but when you think about it, it's also scary to have that large amount since evil intents will also be in the shadows.

It's like returning the money to the government through taxes. 
Anyway, if she's the lucky winner I wonder why exposing herself that much, I wish for her safety and hopefully its a real winner and not just a fake one.
There's a trust issues already in my country with regards to lottery because of there are many winners already in the first half of the year, it looks like an inside job or what.

I'm sure after that there will be a lot of strangers who claim to be his brother, Lol
but I found someone commenting on the video and also I fully support the comment.

here is the comment.


who would have thought that someone who gets the luck of a lifetime with a large amount of the lottery jackpot and a little regrets that this person unconsciously publishes his winnings and it will be very risky for himself because crimes are definitely targeting him.
and on the one hand this victory makes gamblers out there motivated and think that luck is always in the lottery and always trying to buy continuously will be better, but for me it's not.

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.

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.

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?

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

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.

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.

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?

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.

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  

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.


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.

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.

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.

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.

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.

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.

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.

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 

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.

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.

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.

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.

$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!

It's was a bad idea making it publicly while she has not been officially declared but it makes no difference despite the fact because there's no anonymity in the case like this and with time she'll be all over the internet. Besides, People's bad intention towards her will not change anything or divert the rewards to them. I believe she'll not be carried away by not hiring heavy security around her with such a huge amount.

Such amount of money is enough to transform someone's life for better even if you decide to quit gambling but unfortunately people got confused after winning huge amount and think it will continue like that. Perhaps, Living extravagant lifestyle and lack of financial management are the reason majority of them get broke after wining a jackpot.

The amount of money is not only life-changing but for the whole family and generation to come I hope they get a financial adviser if you have this amount of money suddenly you feel like you can buy anything or just about everything we have read lottery winners after a few years losing their fortune because of too much expenditure I hope they will not suffer from that.

The option to have it in a lump sum is understandable many bettors do this its their money and they want to keep up with you never if something along the way happen that you cannot get all the money you've won he wants to secure it maybe invest in real properties stocks or Cryptocurrency.

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.

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.

The option doesn't take two withdrawal or something, it was a 30 year annuity to receive their winnings and historically most winners would take the lump sum though. It's still million of dollars though but there are way too many burden taxes that the winner should get into and he/she most likely get around $300M+ more with this lump sum.

Here's the breakdown regarding this Powerball win: https://www.wfaa.com/amp/article/news/nation-world/after-taxes-how-much-1-billion-powerball-winner-will-actually-take-home/507-f502de8d-54eb-4a77-ab70-524cef136efc.

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?

But you will definitely undergo KYC on a casino if you ever manage to land on this kind of huge jackpot for AML policy compliance. The only difference is you don't need to be present physically to claim your prize in an online casino but you can't cashout this kind of money on gambling without sacrificing your anonymity in both online gambling and physical as long as you are playing in a casino that is compliant with the law. I think dodging tax that should be deducted on the prize pool is the best advantage you can ever have on playing with online casino.

50% of the winnings are taken by the state  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?

If you read the caption on the video that you share, It is even written as 1.08 Billion and not your re-word 1,080 Billion. FYI, 1000 Billion = 1 Trillion so 1.08 Trillion is correct if a comma is used as a thousand separator. I'm just saying that your use of comma is viewed as thousand separator and not as decimal due to the 3 digits after.


That's the whole point of my post, You can simply write 1,08 Billion. But I'm not saying you are wrong but only an opinion that it might be mistaken. 

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I don't want to argue anymore on this dumb argument. You've got an interesting news here.

As per the information I've read on the internet today after reading this thread, the winner of Mega Million or Powerball Lotto will have to pay 25 to 30 percent plus the state/local tax which differs on what state you bought the ticket from or at least where you live and that would be another 10 to 15 percent.

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.

Source

Anyway, congratulations to the winner! 

One of the things that online gambling have brought us is the fact that we can maintain our anonymity as much as we can and still be ok with the whole outcome of the event,  even if you win a million dollar from gambling only you will know and your privacy will remain intact, unlike traditional casino where the third party like a bank will get involve and landing your winning with heavy tax that will reduce your total income from the winning.

But then if the lottery decided to promote their brand winner how then do we expect the ops to hide his identity since announcing the winner on national and other news outlets is part of the prize-giving ceremony?

Just how lucky you have to be to win such a big amount. The winner probobly dosent want to wait and just wants the money. Even when the winner receives half its still too much money. But still the tax in the US is just to large. But still i guess the winner just wants the money. If it was me i would stay anonymous until i receive the money and hide it as much as possible. It can be risky if someone finds out that someone won that big amount of money.

Even if the winner is going to receive half of that more than $1 billion it's still enough to make him one of the richest, there are a lot of dilemmas and stigmas associated when you become an instant multi-millionaire, suddenly from being an ordinary you becoming magnified and everything you want in life are easily reach, I hope the winner is educated enough to know the value of money and the best thing in life, if he is still young I hope he puts it in helping others as this is a one of a kind blessing.

Many winners do that, they overlooked the money that will be cut as long as they have this feeling that they have the money that they've won even half of it, I would have done the same I will invest a big percentage in top Coins and I can recover half of the amount I've loss because of the tax cut.

If it was a little winning thennthatbwouldnhave been a proble but since we're dealing with a billion dollars been split into two then there's no issue, having that kind of money will first of push the winner into the top class living people and it will surely open several opportunity for them. So we shouldn't even bother ourselves about them take a junk from it as tax as the remaining one will still be more than enough for the winner.

Now my curiosity is, what if the winner fails to show up before the deadline? According to the video url you posted the man said, the winner has up to a year to claim their reward so what then happens if no one shows up to clim the reward of the lottery or comes after a year to claim the reward will she still be awarded or will her ticket become void? I guess I have seen this thread before but the man's comment got me thinking about it.  

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.

Too bad she showed her face to the public
I mean, I understand where she came from and that you would really be crying if you are that someone who won a billion jackpot prize in the lottery but I just hope that she did some wise decisions before showing her face in the camera because by now, a lot of people already know her and most probably where she lived as well, including the people who would want to get some money off of her.

That is really huge, but so is the tax. But again, it is still money, and even if it is cut in half, you still won't have that decent money that can change her life. My thought on this is that the winner should be the person who really needed it, and she should also have been able to manage it well because we know that most lottery winners can't handle it well and just lose it all in a matter of time. I do hope that this is the start of where she can change her life and also be good at other things, like being helpful. But still, I cant imagine that the tax department also won half of it.

Who cares, because the half value that she gets because she gets cut off by fixed taxes will be a fantastic value, can really change lives and even live in luxury with the lottery winnings, and I'm sure other people will prefer to take it in full even though the final value you get is only half, because with the money already confirmed in our hands, many things can be done including starting a business from the lottery results or buying a house for investment or also other forms of investment that are very likely to also be able to provide big profits if you can choose the right type of investment.
Didn't see the video from YouTube that the OP included and as long as there is no official news from the organization that is holding the lottery then this can still be said to be just a rumor, so she has not become a rich man so far.

I think if this is charged 50% as tax payments of course this is an unfair regulation, more like extortion, 50% is not a small amount of the total he won (half a billion), this is crazy.

With that amount is certainly not a good thing when we expose it to the public, moreover there is no official confirmation about his victory either from the organizer or from the government, maybe he is too happy and covered his mind so that he wanted to be seen by others, or his friends because he had won the lottery with a very pantastic victory, and he did not think what would happen to him if there was a bad person to do something to him or his family and asked for a ransem or asking for his mind when he took the victory. LOL

The cost of the tax deduction is so big even if you only get half but it looks like a joke, there is no choice but to take even if you only get half instead of having to pay the tax with your own money, not only the lottery but even other prizes in my country are almost the same when there is a prize car at certain events, but when you get a car prize, at least you have to pay a tax of around 30% of the car's price. lol

To be honest, I don't really like lottery games, maybe because of problems like this that always happen when I get a prize winner who gets full deductions or taxes and so on, it's clear that it will make me feel uncomfortable enjoying my winnings to the fullest, why not? taking a tax fee or deduction of around under 10% maybe that would be better than half.  

She is already celebrating which is a good step but I think it is better to wait for the organization to do a review check before making it to the Media streams or perhaps the Media are also waiting for something to go viral to have good audience and exposure, it is really a good amount though because her reactions says it, that money will change her life forever if it is put in good use or good investment precisely.

The organizers are making bucket of money from this shows because if the shop where the ticket was won raised about a million dollars, only God knows the amount they will make from other shops, they will be making more than double of that amount, if not upto tripple but I think paying tax half the price doesn't worth it, the government will pocket half that amount and they will be happy people are joining, the tax amount is too high.

It is simply unacceptable that a country charges 50% tax on a lottery prize, I wonder if billionaires were paying 50% tax then would they become very rich to the point of having many billions of dollars? I think the government should know how to separate things and adopt another tax collection model in the lottery, for example, the government could charge tax when each person buys a lottery ticket, something like if a person were to buy a lottery ticket that cost 1.50$, so when that person paid the 1.50$, then 50% of the tax value would be deducted and the government would keep 0.75$ while the lottery organizers would keep 0.75$

with that, when someone hits the winning ticket, that person would keep 100% of the amount they won, I think that only in this way would it be fair to all the people who win the lottery. now about this person who has already moved in while no one has seen any official government announcement, I think it is not good for someone to rush like that, mainly because she has not yet been declared the winner and has not yet received the money, she is exposing herself in an unnecessary way, mainly because nowadays there are many criminals and they could do her some harm while she has not received so much money from the prize

" You stay anonymous until after you claim the money officially. You don't receive the money immediately, people with bad intentions will probably be looking for her today. Hopefully she stays safe, but doing this in public was a very bad decision. "

It was the top comment on the video. And to be honest it was a big mistake to make it public, because surely there would be someone with bad intentions who would harm her. Let's hope we can still hear from this lady, because it was very lucky for her to be able to hit the jackpot with such a big prize.

yeah, I agree, I would take the lump sum to instead of an annuity. I would want to enjoy my winnings to the fullest and not wait yearly to get paid.

I'm confused, how would you type out one billion eighty-five million? wouldn't it be $1,085 Billion? so, why would a $1,080 with a "billion" next to it be mistaken for a trillion? I also wrote Billion next to it for more clarification.

That's the biggest I've known the store owner in the video is overjoyed because he instantly gets a million dollars for just selling the winning ticket and the winner changed his life and all his relatives and generation to come I hope he is good at handling that huge money.

Not surprisingly some people want to enjoy their winnings and they want to handle their own money so they can buy whatever they want or set up a business, we don't know the character of the winner but if he is an investor he knows how to handle the money and where to put so it will stay in his lifetime and to his/her children and grandchildren.

I also think it's better to withdraw it directly even though it's taxed and don't get a lump sum payment it's better, than depositing it in the casino and or dividing it in half into two withdrawals it's the same, or it doesn't make a difference he will be taxed too.

But if using two withdrawals doesn't get as big a tax as using one withdrawal, I think making two withdrawals is a good thing to reduce the tax that should be, and he gets money that shouldn't be paid for taxes, although yes he becomes a millionaire and the money is taxed doesn't affect him, but we need to remember that money with that amount of tax is really a shame if you don't have money or run out of money later.

The comma will mistakenly assume your thread to be 1.08 Trillion instead of 1.08 Billion reward because you use 3 digit after the comma.

I think claiming it lump sum is his or her best option since powerball organizers can’t hold the money for a long time while the winner can put his money on stock market, bank and crypto to personally manage it. The tax is part of the prize and every powerball knew that. They still just add the tax on the grand prize to make it more appetizing to all bettors.

What really surprised me is someone claiming that he won jackpot prize publicly.

I'd rather lump sum it rather put it on others hand, half a billion dollar is not a little amount, I'd say "okay get the taxes and just give me my prize". That's already on the term and I think it isn't new if you know how lottery rewarded their winners. That winner should never take it on one lump sum day as well I hope, she'd just be shock how big it is, he's already a millionaire and hope she doesn't take it in one day as well.

I would have done the same and opt to get the prize as long as I would get half billion dollars who the f cares about the huge taxes.However I used to work in Italy as I have been working in many different countries and if I recall correctly there is something different,the winner of the best state lottery goes and claim it much further than the draw and usually I have seen in TV there people wearing masks to not let other people know who they are because of the risks associated with that.I doubt that in the USA it would consist of such risks but still even USA is a dangerous place when people know you have become filthy rich out of nowhere.

seems like the classic historical dilemma in lottery sauce   better an egg today or a chicken tomorrow?

if you think about it, such a figure even if "half" is enough to make you at least the top 1% richest on earth and live at "science fiction" levels.
I too would have done the same thing, as we say here in Italy "there is no certainty about tomorrow"

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