I guess I don't understand odds. I bought a $2 ticket from the grocery store (the cashiers had envelopes of pre printed tickets and we're offering to every customer as they paid. Fucking smart.
Then I bought a $10 ticket a little later from another store.
How do I have the same odds of winning as someone who only bought one ticket, if I have six? I mean I don't really care either way, I'm not expecting to win, but I would be happy if I hit $20 in the Powerball or something.
You have better odds of winning after you spent the additional $10. But you still have extremely tiny chance of winning and in the grand scheme of things you helped yourself percentage wise, but you still won't win lol.
no chance
No, you have 'no chance' if you don't buy a ticket.
Obviously you have a better chance of getting squished by a falling vending machine than winning the jackpot, but you have a chance.
How about an ATM machine ala Breaking Bad...lol
Thank you fellow 10 clubber for saving my ass....again!!!
Well, I had to chip in $10 for the office pool. Looks like 30 of us got in. I really had no choice. There was NO WAY in hell I was going to be the only one who had to show up at work Monday!
Hahaha
Take me piece by piece..... Till there aint nothing left worth taking away from me.....
The joy of life comes from our encounters with new experiences, and hence there is no greater joy than to have an endlessly changing horizon, for each day to have a new and different sun.
We have 20 or so in our office pool. So roughly $35M each. But I'm trying to convince them all to give everyone that works there an even share of $875k and make the place go out of business.
Not denying that it is a shitload of money but how come your american lottery company doesn't state what you will actually "win". You wont win 900mil, it is about half correct? Up here in Canada you win what the lottery says you will. If the lottery here is 900mil - you will receive 900mil.
Not denying that it is a shitload of money but how come your american lottery company doesn't state what you will actually "win". You wont win 900mil, it is about half correct? Up here in Canada you win what the lottery says you will. If the lottery here is 900mil - you will receive 900mil.
Insane! I think I would freak out if I won that much money!
What comes to my mind when I think about what it would be like to win 1.4 billion (which is about one third of how many people on earth will only think about it) is, would I not immediately need to hire a body guard, bring on a pack of watch dogs, string concertina wire around the perimeter of the house, mount cameras everywhere, put up razor wire around the place...
oh, wait, I could just move. Never mind. I'm in.
“The fear of death follows from the fear of life. A man [or woman] who lives fully is prepared to die at any time.”
Insane! I think I would freak out if I won that much money!
What comes to my mind when I think about what it would be like to win 1.4 billion (which is about one third of how many people on earth will only think about it) is, would I not immediately need to hire a body guard, bring on a pack of watch dogs, string concertina wire around the perimeter of the house, mount cameras everywhere, put up razor wire around the place...
Good luck to all..saw jack pot will be 1.3 billion??? Wow!!
"...Dimitri...He talks to me...'.."The Ghost of Greece..".
"..That's One Happy Fuckin Ghost.."
“..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
If you want to grasp how much $1.4 billion is, take this into consideration...
Even if you were taxed 99% on $1.4 billion, you'd still have enough left to pay yourself $350k a year for the next 40 years.
The thing is, you won't be taxed anywhere near 99%, it'll be more like 47%. Which is enough to pay yourself over $18.5 million a year for 40 years.
And that's without considering interest.
That's a lot of fucking money!
Ok,not sure how it work.. Lets say u win 1. Billion dollars.. They put out taxes? How much? And then they give the rest of the money??
"...Dimitri...He talks to me...'.."The Ghost of Greece..".
"..That's One Happy Fuckin Ghost.."
“..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
If you want to grasp how much $1.4 billion is, take this into consideration...
Even if you were taxed 99% on $1.4 billion, you'd still have enough left to pay yourself $350k a year for the next 40 years.
The thing is, you won't be taxed anywhere near 99%, it'll be more like 47%. Which is enough to pay yourself over $18.5 million a year for 40 years.
And that's without considering interest.
That's a lot of fucking money!
Ok,not sure how it work.. Lets say u win 1. Billion dollars.. They put out taxes? How much? And then they give the rest of the money??
Well, sort of. I'm not sure if they take the taxes out at the beginning, or if you have to claim it on your yearly income taxes later.
Also, the jackpot of $1.4 billion is only $1.4 billion if you take annuity, which is paid in even distributions over 20 years I believe. If you take a lump sum cash distribution, that $1.3 billion becomes $806 million and taxes are then based off that figure.
My previous post was just to give a scope on how much a billion dollars actually is...not exactly representative of how the lottery works.
If you want to grasp how much $1.4 billion is, take this into consideration...
Even if you were taxed 99% on $1.4 billion, you'd still have enough left to pay yourself $350k a year for the next 40 years.
The thing is, you won't be taxed anywhere near 99%, it'll be more like 47%. Which is enough to pay yourself over $18.5 million a year for 40 years.
And that's without considering interest.
That's a lot of fucking money!
Ok,not sure how it work.. Lets say u win 1. Billion dollars.. They put out taxes? How much? And then they give the rest of the money??
Well, sort of. I'm not sure if they take the taxes out at the beginning, or if you have to claim it on your yearly income taxes later.
Also, the jackpot of $1.4 billion is only $1.4 billion if you take annuity, which is paid in even distributions over 20 years I believe. If you take a lump sum cash distribution, that $1.3 billion becomes $806 million and taxes are then based off that figure.
My previous post was just to give a scope on how much a billion dollars actually is...not exactly representative of how the lottery works.
All Lottery winnings are taxed a federal tax, I think 27%...I don't know as I haven't win a big jackpot. If you take the lump sum payment, everything all at once, they only give you half of the winnings...that takes care of federal taxes.
If you take annuity payments, spread out, they tax each annual payment, so that would be a lower amount after the 20 years over all.
THEN, depending on where you live, your winnings are taxed on state and local taxes. So say someone in New York wins, they have a state tax (i don't know what it is), and local taxes. Someone like me, we don't have state tax, so I would be only be charged my local taxes.
Stupid uncle Sam.
The joy of life comes from our encounters with new experiences, and hence there is no greater joy than to have an endlessly changing horizon, for each day to have a new and different sun.
If you want to grasp how much $1.4 billion is, take this into consideration...
Even if you were taxed 99% on $1.4 billion, you'd still have enough left to pay yourself $350k a year for the next 40 years.
The thing is, you won't be taxed anywhere near 99%, it'll be more like 47%. Which is enough to pay yourself over $18.5 million a year for 40 years.
And that's without considering interest.
That's a lot of fucking money!
Ok,not sure how it work.. Lets say u win 1. Billion dollars.. They put out taxes? How much? And then they give the rest of the money??
Well, sort of. I'm not sure if they take the taxes out at the beginning, or if you have to claim it on your yearly income taxes later.
Also, the jackpot of $1.4 billion is only $1.4 billion if you take annuity, which is paid in even distributions over 20 years I believe. If you take a lump sum cash distribution, that $1.3 billion becomes $806 million and taxes are then based off that figure.
My previous post was just to give a scope on how much a billion dollars actually is...not exactly representative of how the lottery works.
All Lottery winnings are taxed a federal tax, I think 27%...I don't know as I haven't win a big jackpot. If you take the lump sum payment, everything all at once, they only give you half of the winnings...that takes care of federal taxes.
If you take annuity payments, spread out, they tax each annual payment, so that would be a lower amount after the 20 years over all.
THEN, depending on where you live, your winnings are taxed on state and local taxes. So say someone in New York wins, they have a state tax (i don't know what it is), and local taxes. Someone like me, we don't have state tax, so I would be only be charged my local taxes.
Stupid uncle Sam.
and if i win?like u know..a person visiting new york...i buy ticket,,i win.. but i dont live at new and after 5 days i leave country..what happens?
"...Dimitri...He talks to me...'.."The Ghost of Greece..".
"..That's One Happy Fuckin Ghost.."
“..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
i saw a profile type thing a few years ago and I cant find it now - i think it was the daily news. they had a guy in the city (i think a doorman) who took whatever percentage of his paycheck to put toward lotto every week. He was convinced he was going to beat the odds and win.
If you want to grasp how much $1.4 billion is, take this into consideration...
Even if you were taxed 99% on $1.4 billion, you'd still have enough left to pay yourself $350k a year for the next 40 years.
The thing is, you won't be taxed anywhere near 99%, it'll be more like 47%. Which is enough to pay yourself over $18.5 million a year for 40 years.
And that's without considering interest.
That's a lot of fucking money!
Ok,not sure how it work.. Lets say u win 1. Billion dollars.. They put out taxes? How much? And then they give the rest of the money??
Well, sort of. I'm not sure if they take the taxes out at the beginning, or if you have to claim it on your yearly income taxes later.
Also, the jackpot of $1.4 billion is only $1.4 billion if you take annuity, which is paid in even distributions over 20 years I believe. If you take a lump sum cash distribution, that $1.3 billion becomes $806 million and taxes are then based off that figure.
My previous post was just to give a scope on how much a billion dollars actually is...not exactly representative of how the lottery works.
All Lottery winnings are taxed a federal tax, I think 27%...I don't know as I haven't win a big jackpot. If you take the lump sum payment, everything all at once, they only give you half of the winnings...that takes care of federal taxes.
If you take annuity payments, spread out, they tax each annual payment, so that would be a lower amount after the 20 years over all.
THEN, depending on where you live, your winnings are taxed on state and local taxes. So say someone in New York wins, they have a state tax (i don't know what it is), and local taxes. Someone like me, we don't have state tax, so I would be only be charged my local taxes.
Stupid uncle Sam.
and if i win?like u know..a person visiting new york...i buy ticket,,i win.. but i dont live at new and after 5 days i leave country..what happens?
Well I don't know for sure...I remember a Canadian win a big powerball or mega millions. They gave it all to them, I cannot remember if they were taxed or not.
The joy of life comes from our encounters with new experiences, and hence there is no greater joy than to have an endlessly changing horizon, for each day to have a new and different sun.
If you want to grasp how much $1.4 billion is, take this into consideration...
Even if you were taxed 99% on $1.4 billion, you'd still have enough left to pay yourself $350k a year for the next 40 years.
The thing is, you won't be taxed anywhere near 99%, it'll be more like 47%. Which is enough to pay yourself over $18.5 million a year for 40 years.
And that's without considering interest.
That's a lot of fucking money!
Ok,not sure how it work.. Lets say u win 1. Billion dollars.. They put out taxes? How much? And then they give the rest of the money??
Well, sort of. I'm not sure if they take the taxes out at the beginning, or if you have to claim it on your yearly income taxes later.
Also, the jackpot of $1.4 billion is only $1.4 billion if you take annuity, which is paid in even distributions over 20 years I believe. If you take a lump sum cash distribution, that $1.3 billion becomes $806 million and taxes are then based off that figure.
My previous post was just to give a scope on how much a billion dollars actually is...not exactly representative of how the lottery works.
All Lottery winnings are taxed a federal tax, I think 27%...I don't know as I haven't win a big jackpot. If you take the lump sum payment, everything all at once, they only give you half of the winnings...that takes care of federal taxes.
If you take annuity payments, spread out, they tax each annual payment, so that would be a lower amount after the 20 years over all.
THEN, depending on where you live, your winnings are taxed on state and local taxes. So say someone in New York wins, they have a state tax (i don't know what it is), and local taxes. Someone like me, we don't have state tax, so I would be only be charged my local taxes.
Stupid uncle Sam.
and if i win?like u know..a person visiting new york...i buy ticket,,i win.. but i dont live at new and after 5 days i leave country..what happens?
TAX AND OFFSET INFORMATION The Gaming Commission is required to report and withhold income taxes from Lottery prizes according State and federal law and regulations.
The current tax withholding rates are: Federal withholding 25% Federal backup withholding 28% Federal Non-resident Alien withholding 30% New York State withholding 8.82% New York City withholding 3.876% Yonkers withholding 1.477%
The New York Gaming Commission is required by law to withhold Federal and New York State income taxes from taxable prizes over $5,000, regardless of the winner's place of residence. By law, the Gaming Commission is also required to withhold overdue taxes owed to New York State, past-due support and prior public assistance from any Lottery prize of more than $600.
Usually the scratch offs say its only for NY State residents (unless i'm imagining that) but I don't see anything about that for the powerball. I would assume a tourist who buys the winning ticket in NY would be subject to the Federal Non-resident Alien and the NYS & NYC taxes. Also WTF does Yonkers only have to get 1.477% taken out? That's some bullshit. That's less than half of what I would get taken out.
Comments
Libtardaplorable©. And proud of it.
Brilliantati©
Hahaha
Till there aint nothing left worth taking away from me.....
- Christopher McCandless
You wont win 900mil, it is about half correct?
Up here in Canada you win what the lottery says you will.
If the lottery here is 900mil - you will receive 900mil.
LIVEFOOTSTEPS.ORG/USER/?USR=435
8/28/98- Camden, NJ
10/31/09- Philly
5/21/10- NYC
9/2/12- Philly, PA
7/19/13- Wrigley
10/19/13- Brooklyn, NY
10/21/13- Philly, PA
10/22/13- Philly, PA
10/27/13- Baltimore, MD
Tres Mts.- 3/23/11- Philly
Eddie Vedder- 6/25/11- Philly
I need to stick to the scratch offs
LIVEFOOTSTEPS.ORG/USER/?USR=435
What comes to my mind when I think about what it would be like to win 1.4 billion (which is about one third of how many people on earth will only think about it) is, would I not immediately need to hire a body guard, bring on a pack of watch dogs, string concertina wire around the perimeter of the house, mount cameras everywhere, put up razor wire around the place...
oh, wait, I could just move. Never mind. I'm in.
For each Powerball draw, 50% of the sales for the draw is allowed as prize money. The First Prize is allocated 68% of this amount. The remaining prize monies are then used to pay out the additional eight prize levels.
http://nylottery.ny.gov/wps/portal/Home/Lottery/Home/Jackpot+Games/POWERBALL/Powerball+-+Drawings+and+Prizes
LIVEFOOTSTEPS.ORG/USER/?USR=435
"..That's One Happy Fuckin Ghost.."
“..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
Even if you were taxed 99% on $1.4 billion, you'd still have enough left to pay yourself $350k a year for the next 40 years.
The thing is, you won't be taxed anywhere near 99%, it'll be more like 47%. Which is enough to pay yourself over $18.5 million a year for 40 years.
And that's without considering interest.
That's a lot of fucking money!
Lets say u win 1. Billion dollars..
They put out taxes? How much?
And then they give the rest of the money??
"..That's One Happy Fuckin Ghost.."
“..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
Also, the jackpot of $1.4 billion is only $1.4 billion if you take annuity, which is paid in even distributions over 20 years I believe. If you take a lump sum cash distribution, that $1.3 billion becomes $806 million and taxes are then based off that figure.
My previous post was just to give a scope on how much a billion dollars actually is...not exactly representative of how the lottery works.
If you take the lump sum payment, everything all at once, they only give you half of the winnings...that takes care of federal taxes.
If you take annuity payments, spread out, they tax each annual payment, so that would be a lower amount after the 20 years over all.
THEN, depending on where you live, your winnings are taxed on state and local taxes. So say someone in New York wins, they have a state tax (i don't know what it is), and local taxes. Someone like me, we don't have state tax, so I would be only be charged my local taxes.
Stupid uncle Sam.
- Christopher McCandless
now where's my coat...
but i dont live at new and after 5 days i leave country..what happens?
"..That's One Happy Fuckin Ghost.."
“..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
LIVEFOOTSTEPS.ORG/USER/?USR=435
- Christopher McCandless
The Gaming Commission is required to report and withhold income taxes from Lottery prizes according State and federal law and regulations.
The current tax withholding rates are:
Federal withholding 25%
Federal backup withholding 28%
Federal Non-resident Alien withholding 30%
New York State withholding 8.82%
New York City withholding 3.876%
Yonkers withholding 1.477%
The New York Gaming Commission is required by law to withhold Federal and New York State income taxes from taxable prizes over $5,000, regardless of the winner's place of residence. By law, the Gaming Commission is also required to withhold overdue taxes owed to New York State, past-due support and prior public assistance from any Lottery prize of more than $600.
Usually the scratch offs say its only for NY State residents (unless i'm imagining that) but I don't see anything about that for the powerball. I would assume a tourist who buys the winning ticket in NY would be subject to the Federal Non-resident Alien and the NYS & NYC taxes. Also WTF does Yonkers only have to get 1.477% taken out? That's some bullshit. That's less than half of what I would get taken out.
LIVEFOOTSTEPS.ORG/USER/?USR=435