Another insane win!! $ 1B mega million jackpot - page 14.

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Quote from: SaShiRaJaVu on January 24, 2021, 05:37:56 PM

~
A deduction of 60% is a robbery and it is fair to keep the entire winnings, the only places i know that will allow you to keep all the winnings are places like UAE where the government allows you to keep all your winnings as there are government jackpots as well but the ticket charges are really high but if you are lucky you could keep all the amount you won.

Even when you take these lottery you are aware of the huge taxes levied upon them and hence it should not be a big surprise, usually the government allows these kind of jackpot is because they get a fair share of amount if anyone wins and i have not heard about tax free jackpots, government jackpots is great if you can keep all the winnings but who is traveling to those places just to win the jackpot Cheesy

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SaShiRaJaVu

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Quote from: khaled0111 on January 24, 2021, 08:55:19 AM

A deduction by more than 60% is a robbery not taxation, imo. If lottery tickets are subject to sales tax then the winnings should be tax free
And I used to think the 25% my country imposes on lottery winnings was unfair!.

Still, ~$400 million is a huge amount of money so congratulation to the winner, whoever he is.

A deduction of 60% is a robbery and it is fair to keep the entire winnings, the only places i know that will allow you to keep all the winnings are places like UAE where the government allows you to keep all your winnings as there are government jackpots as well but the ticket charges are really high but if you are lucky you could keep all the amount you won.

Oilacris

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Quote from: Vaskiy on January 24, 2021, 12:31:41 PM

Quote from: UmerIdrees on January 23, 2021, 01:43:29 PM

This is the 2nd big win i saw recently which is quite amazing. Recently Toronto women win jackpot lottery. Its seems many people are winning lottery and jackpots as 2021 looks lucky for the gamblers and risk takers.

2021 has been lucky for most of the people around the world. Also the wins are very big. I haven't tried with any of the jackpots. In my country lottery tickets were the only choice to know our luck. The only win that I made out of lottery is a Television. In my country starting prizes will be in cash and end prizes will be television and other things.

No, those are just typical things, seeing this winners doesnt indicate that we do have some a good year as of this moment.We should always look up on how
many losers are on the other side.Lucky for those who won and bad luck or better luck next time for those who had missed or havent chosen.

I cant imagine on how would i spend up if ever i do hit up a jackpot.So far id been betting lottery ever since until the pandemic had closed all sorts of business including
this lottery then its been a while i havent able to bet out.

Winnings like this big had already be seen in the public which is just normal for lotteries but we know the odds isnt something that you would really be interested on.

Vaskiy

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Quote from: UmerIdrees on January 23, 2021, 01:43:29 PM

This is the 2nd big win i saw recently which is quite amazing. Recently Toronto women win jackpot lottery. Its seems many people are winning lottery and jackpots as 2021 looks lucky for the gamblers and risk takers.

2021 has been lucky for most of the people around the world. Also the wins are very big. I haven't tried with any of the jackpots. In my country lottery tickets were the only choice to know our luck. The only win that I made out of lottery is a Television. In my country starting prizes will be in cash and end prizes will be television and other things.

Cling18

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Quote from: Chrystora123 on January 23, 2021, 01:27:33 PM

In the last few weeks Americans have been very lucky in the lottery, this time there is a man who won $ 1 billion dollars from the mega million lotteries. btw, I have tried playing mega billions several times at (cut this part) but never had any luck. for unclear reasons, the man's identity is still a secret.

Quote

The winner's identity has not been revealed, but, per state lottery rules, they must come forward to claim their winnings.

Quote

The winner will have two options to collect the record prize, the lottery said in a statement: "The first is an escalating annuity that offers an initial payment, then annual payments for 29 years. The player also may select a one-time cash payment of about $739 million. If a player selects the cash option, they will receive about $530 million after tax withholdings."

the tax cut was huge but I sure it certainly wouldn't piss him off. has anyone ever tried to play this and do you lucky??

https://en.wikipedia.org/wiki/Mega_Millions
https://abcnews.go.com/US/mega-millions-jackpot-reaches-billion-2nd-largest/story?id=75428813&cid=clicksource_4380645_8_heads_hero_live_headlines_hed
https://www.yahoo.com/gma/mega-millions-jackpot-reaches-1-175200317.html

I could feel that this year is really a lucky year for most American betters. I have been hearing lots of good news about betters who have been winning such a big amount which is really a good thing. It's really hard to win these days but I guess they really got their luck at the beginning of the year. We shouldn't lose hope because our time to win would still come.

bitbollo

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for unclear reason winner is "secret"?
Grin

well I guess that there is enough a good reason to remains completely anonymous and not share details about identity. It's a very huge amount of money that could receive interest by criminals, I am pretty sure this is the right solution.

bryant.coleman

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Quote from: In the silence on January 24, 2021, 10:43:28 AM

Lucky indeed in gambling, winning that billion is okay but the way the taxers takes almost half of his winnings is not okay, even if his identity not revealed in the process.

Damn taxes.

They have kept double taxation and a very high rate of tax deduction because they know that no one is going to complain about it. No one is going to complain about the tax on lottery tickets, because their concentration is on winning the reward of $1 billion. It is not going to matter much, if the price of the ticket is increased from $8 to $10. And if someone wins the jackpot, he will be overjoyed that he became a multi-millionaire overnight. The winner is not going to sue the government claiming that the tax rate is too high.

In the silence

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Lucky indeed in gambling, winning that billion is okay but the way the taxers takes almost half of his winnings is not okay, even if his identity not revealed in the process.

Damn taxes.

FlightyPouch

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That is insane! Even though it is reduced to over half a billion, that is still a massive amount. I don't know how will the family of that individual will do with that money but I really hope they could manage it well. That is a huge amount and they could really make their lives comfortable I think until they wanted to. Best if they could start a business maybe.

ethereumhunter

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That is a lot of money. I can not imagine if that is happening to me Grin

That man has big luck, and he can feel safe as the man's identity is still secret, so he can enjoy the money while other people do not know who is he. With that news, I think it can attract people to try their luck by buying the lottery to win the jackpot. I hope to win some money from the lottery or even if the lottery is to get some product in the local store.

kryptqnick

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Honestly, I didn't even know there were lotteries where one could win so much. The annual payments version sounds very reasonable, so that a person doesn't waste off everything and cannot lose everything due to some scam or something. Then again, it requires believing in the economy and that the payments won't be cancelled due to some circumstances at some point.
The taxation is heavy, but I think that's how things should be when you are very wealthy.
As for the identity remaining a secret, I'd understand if a person does not want to become popular as a guy with a bunch of money because this would clearly make him a target. But perhaps the identity is not revealed because the lottery doesn't know the identity of this person? Can it be that they don't store the names but have some cyphers instead or simply wait till one brings them the lottery ticket with the right numbers?

robelneo

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Quote from: khaled0111 on January 24, 2021, 08:55:19 AM

Quote from: bryant.coleman on January 24, 2021, 07:31:04 AM

So the jackpot winner is going to receive less than 40% of the claimed amount in his bank account after all the deductions.

A deduction by more than 60% is a robbery not taxation, imo. If lottery tickets are subject to sales tax then the winnings should be tax free
And I used to think the 25% my country imposes on lottery winnings was unfair!.

Still, ~$400 million is a huge amount of money so congratulation to the winner, whoever he is.

It is a robbery it's actually the government who won by getting the biggest slice of the cake, but anyway if you trust your government and you see that your government is not corrupt you will be happy to hand that huge amount, you still have big money so you can still live a good and rich life for the rest of your life, I think the government should give him an award because of the big slice.

onrise

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Quote from: slaman29 on January 24, 2021, 06:17:51 AM

Quote from: robelneo on January 23, 2021, 10:58:10 PM

I never thought it's possible to win that huge amount, and of course, they will never reveal the name that huge amount can put the winner's life in danger, and about prize distribution, I prefer initial payment then the annual payment for 29 years this is to prevent from extravagant living and to protect your money and you will see your money passed through your children to your grandchildren.

Seriously. Every time I read stuff like this. Makes me just so envious. No words. I can't even win a lottery with prizes less than 1000x that amount, not to mention not even ever coming close.

Makes us all dream to read this isn't it? I prefer 29 years annual. So you can't spend it all even if you want it.

Such things only encourage and motivate me too to at times keep buying sometimes lottery tickets, but in the end the results are obvious. Just 1 of the instances you require to make it big or even some decent amount of winning is helpful but unfortunately it does not happen that easily to me or to millions of others who are trying from years and do not end up winning. It’s a luck which help you win at the end of the day. Congrats to lucky winner.

k@suy

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Quote from: UmerIdrees on January 23, 2021, 01:43:29 PM

This is the 2nd big win i saw recently which is quite amazing. Recently Toronto women win jackpot lottery. Its seems many people are winning lottery and jackpots as 2021 looks lucky for the gamblers and risk takers.

It also makes me thing that more people believe in luck, don't get me wrong okay I just think that people want to earn more so more and more people might bought different combination in their tickets so that they will be having a more chances to win a game, it's kinda profitable to those owns that lottery but govt is much happier since tax will be implemented unless it would be a tax free game.

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Quote from: bryant.coleman on January 24, 2021, 07:31:04 AM

So the jackpot winner is going to receive less than 40% of the claimed amount in his bank account after all the deductions.

A deduction by more than 60% is a robbery not taxation, imo. If lottery tickets are subject to sales tax then the winnings should be tax free
And I used to think the 25% my country imposes on lottery winnings was unfair!.

Still, ~$400 million is a huge amount of money so congratulation to the winner, whoever he is.

bryant.coleman

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Quote from: Clark05 on January 24, 2021, 04:24:32 AM

The tax is very huge the money he still get is also a lot , well that is the protocol of the government about tax so they operate the gambling legal or having permt. Mega million jackpot is huge amount of money and I hope someday that I'll be the one who gonna win to the lottery even not billion Im contented to the millions because it a lot of money that can secure my future. In my country the highest winning in the history is 700 million and many people tried their luck to bet and to win of course, but only 2 get the exact number it was happened few years ago and they are now instant millionaire but I hope those people who are winning lottery will use it in good way because some of them are losing all money by buying and spending not important things.

The tax system for lottery winnings in the United States is just ridiculous. Lottery winnings are tax free in countries such as Australia and the European Union, because the lottery ticket sales are already taxed once. If they deduct taxes from the lottery winning as well, then it will amount to double taxation. But this logic is not applicable in the United States. They will tax both the lottery ticket sales and the winning amount.

And this is how it works:

Jackpot amount: $1 billion
Lump Sum amount: $739.6 million
Cash in hand, after federal income tax: $465.98 million
Cash in hand, after state income tax: $394.834 million for New York

So the jackpot winner is going to receive less than 40% of the claimed amount in his bank account after all the deductions.

slaman29

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Quote from: robelneo on January 23, 2021, 10:58:10 PM

I never thought it's possible to win that huge amount, and of course, they will never reveal the name that huge amount can put the winner's life in danger, and about prize distribution, I prefer initial payment then the annual payment for 29 years this is to prevent from extravagant living and to protect your money and you will see your money passed through your children to your grandchildren.

Seriously. Every time I read stuff like this. Makes me just so envious. No words. I can't even win a lottery with prizes less than 1000x that amount, not to mention not even ever coming close.

Makes us all dream to read this isn't it? I prefer 29 years annual. So you can't spend it all even if you want it.

Clark05

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The tax is very huge the money he still get is also a lot , well that is the protocol of the government about tax so they operate the gambling legal or having permt. Mega million jackpot is huge amount of money and I hope someday that I'll be the one who gonna win to the lottery even not billion Im contented to the millions because it a lot of money that can secure my future. In my country the highest winning in the history is 700 million and many people tried their luck to bet and to win of course, but only 2 get the exact number it was happened few years ago and they are now instant millionaire but I hope those people who are winning lottery will use it in good way because some of them are losing all money by buying and spending not important things.

ReiMomo

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This is the reason why people keep buying tickets at the lottery because of the big prize that awaits ahead and we understand that winners should always do not disclose their identity to the public for their own safety of course. That is a huge jackpot and will I guess your life is in danger because we know there are too many greedy people who will take advantage and get the money you have.

People keep saying if they will in the lottery they will buy anything they want, but funnily fact, they did not buy any ticket because they were afraid to lose.
Lucky for those who will win, the chances of winning are very slim and that is rare in their life to come.

newwest

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Reading his winning itself making me nuts like, complete life changing moments has happened for him and suddenly he would not even know what to do with this much money he would be seeing in his bank account. It’s a dream of everyone to win some good money but only handful of people are lucky to win from such lottery.

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