Powerball Jackpot | Bitcointalksearch.org

AndrewBUD

hero member

Activity: 1078

Merit: 502

Quote from: byronbb on December 06, 2012, 06:04:26 PM

Quote from: nobbynobbynoob on December 03, 2012, 09:47:14 AM

Quote from: AndrewBUD on December 03, 2012, 09:43:13 AM

You win 1 million in Canada it's 100% yours.... Same in the Casino's you win it's yours

Just like most of the world outside the US. And this is how it should be since gambling institutions already pay lots of tax - there certainly should not be double taxation by taxing personal winnings as well!

The irony here is in Canada we get double taxed on alcohol, gas etc.....

Don't drink and walk more often

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

Quote from: nobbynobbynoob on December 03, 2012, 09:47:14 AM

Quote from: AndrewBUD on December 03, 2012, 09:43:13 AM

You win 1 million in Canada it's 100% yours.... Same in the Casino's you win it's yours

Just like most of the world outside the US. And this is how it should be since gambling institutions already pay lots of tax - there certainly should not be double taxation by taxing personal winnings as well!

The irony here is in Canada we get double taxed on alcohol, gas etc.....

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: deepceleron on December 03, 2012, 12:49:17 PM

Quote from: nobbynobbynoob on December 03, 2012, 09:47:14 AM

Quote from: AndrewBUD on December 03, 2012, 09:43:13 AM

You win 1 million in Canada it's 100% yours.... Same in the Casino's you win it's yours

Just like most of the world outside the US. And this is how it should be since gambling institutions already pay lots of tax - there certainly should not be double taxation by taxing personal winnings as well!

Rather, for every one million dollar winning prize that is taxed, there are two million dollars of losing ticket buyers that should all get to write off their losses on their taxes, fair is fair, Mr Taxman.

I thought they could? Aren't you able to write off gambling losses? Or is it just matching losses with wins, so that you can deduct against taxable winnings?

deepceleron

legendary

Activity: 1512

Merit: 1036

Quote from: nobbynobbynoob on December 03, 2012, 09:47:14 AM

Quote from: AndrewBUD on December 03, 2012, 09:43:13 AM

You win 1 million in Canada it's 100% yours.... Same in the Casino's you win it's yours

Just like most of the world outside the US. And this is how it should be since gambling institutions already pay lots of tax - there certainly should not be double taxation by taxing personal winnings as well!

Rather, for every one million dollar winning prize that is taxed, there are two million dollars of losing ticket buyers that should all get to write off their losses on their taxes, fair is fair, Mr Taxman.

AndrewBUD

hero member

Activity: 1078

Merit: 502

They wanted to pay the winnings over 25 years or something....

So he sold it all for a lump sum payment. Dude didn't think he would live another 25 years Tongue

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: AndrewBUD on December 03, 2012, 09:43:13 AM

You win 1 million in Canada it's 100% yours.... Same in the Casino's you win it's yours

Just like most of the world outside the US. And this is how it should be since gambling institutions already pay lots of tax - there certainly should not be double taxation by taxing personal winnings as well!

AndrewBUD

hero member

Activity: 1078

Merit: 502

Friend of mine won a million on a scratch ticket in Oklahomo. and sold it all for a lump sum payment.... Guess how much??? just over 100K after taxes and court and all that shit....

USA lottery SUCKS.

You win 1 million in Canada it's 100% yours.... Same in the Casino's you win it's yours

mc_lovin

legendary

Activity: 1190

Merit: 1000

www.bitcointrading.com

Quote from: deathsythe on November 27, 2012, 09:45:15 PM

The powerball is going for over $500B right now.

$500B! Half a trillion! Biggest lotto ever? Wink

We wish. You could buy Canada with that skrilla.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

"Babe babe, I won the lottery, we're rich!"
"Omg, where is the ticket, sweetheart?!?"
"Some guy on Bitcointalk.org has it. I hope he's legit!"
"..."

2weiX

legendary

Activity: 2072

Merit: 1006

this space intentionally left blank

- get the lump sum
- buy BTC
- distribute evenly
- ?
- profit!

RantinRave

member

Activity: 118

Merit: 10

Yeah, unfortunately the problem always comes back to if a large amount is won .. how do you deal with it?

Damn, I'll love the day somebody get's this figured out. I'd love putting a couple bitcoins in and rooting for like 10000 numbers! lol.

deepceleron

legendary

Activity: 1512

Merit: 1036

1. Powerball tickets are $2,

2. Winning value of jackpot: "$327 million cash value". 1/100 = $3.27 million,

3. Taxes, legalities of splitting prize with out-of-state winners through lottery commission, etc not thought out here,

= good luck getting your three million bucks from OP...

deathsythe

newbie

Activity: 45

Merit: 0

I'm buying 100 tickets tonight (picked at random from the machines at my local gas station). The powerball is going for over $500B right now.

If I win - I pledge to evenly distribute the capital among anyone who buys into the pool.

Shares can be purchased by sending http://btcticker.appspot.com/mtgox/1usd.png ($1) to 1Apy1m7CYhje15SQNQ798n6nentEbUWh4s

I'm not going to split it more than 100 ways though, and each ticket only covers 1% of the winnings (fair is fair).

All those interested please PM me in addition to sending your payment for your share. I am going to return and post a photo or two of the tickets after I grab them.

Topic: Powerball Jackpot (Read 1195 times)