Hey DGX: Play The Worst Game In The World Without Losing All Your Money

[PorkChopSandwiches]

I got one number (19) plus the megaball (16) off of one play out of five. I won $4. Yay me.

So I'm only down $16 in Mega Millions plays so far this time around.

I also won $4 brother, lets celebrate

[DemonGeminiX]

I also won $4 brother, lets celebrate

Natty Light!

[DemonGeminiX]

It looks like there was a jackpot winner for the Powerball in Maryland.

[Godfather]

$730? Holy shit. I know there's a reduction on US lottos for taxes and if you take the lump, but that'll still clear what, $300 mil+?? Insanity.

[DemonGeminiX]

$730? Holy shit. I know there's a reduction on US lottos for taxes and if you take the lump, but that'll still clear what, $300 mil+?? Insanity.

It's $730 million if it's accepted as an annuity, paid out over time (30 years, I believe). $546 million if taken as one lump sum. Either way, I believe it's taxed as income in the highest bracket, something like 39%. Plus, there's state and local taxes, depending on your locality.

[Godfather]

It's $730 million if it's accepted as an annuity, paid out over time (30 years, I believe). $546 million if taken as one lump sum. Either way, I believe it's taxed as income in the highest bracket, something like 39%. Plus, there's state and local taxes, depending on your locality.

Still more than a Canadian lotto. We have no tax on lotteries (except the x-amount for life style) and you get the amount paid in full, but the most I've ever seen is maybe $60 mil. Chump change comparatively, but that makes sense with 1/10th the population.

[Teh One Who Knocks]

It's $730 million if it's accepted as an annuity, paid out over time (30 years, I believe). $546 million if taken as one lump sum. Either way, I believe it's taxed as income in the highest bracket, something like 39%. Plus, there's state and local taxes, depending on your locality.

Still more than a Canadian lotto. We have no tax on lotteries (except the x-amount for life style) and you get the amount paid in full, but the most I've ever seen is maybe $60 mil. Chump change comparatively, but that makes sense with 1/10th the population.

From what I understand, the Feds will take 25% right off the top to withhold in Federal income tax. You would owe the balance at tax time. Plus the state will want their cut at tax time too, and that varies wildly from state to state. Here in Colorado it's a flat rate of 4.63% regardless of your tax bracket. The current top Federal rate is 37%. So a winner of that jackpot in Colorado would take home $318.7 million after taxes as a lump sum. Not too shabby.

[Godfather]

Ya that'll do just fine

[Teh One Who Knocks]

Updated for tonite :

[lost in melb.]

We have no lottery tax

[DemonGeminiX]

We have no lottery tax

What do your jackpots typically look like?

[lost in melb.]

What do your jackpots typically look like?

Huge jackpots, massive jackpots. We have the biggest jackpot in the world

[DemonGeminiX]

Huge jackpots, massive jackpots. We have the biggest jackpot in the world

Why do I get the feeling that you're completely full of shit?

[lost in melb.]

Why do I get the feeling that I'm missing out?

People from the US can enter this one

[DemonGeminiX]

Looks like the OZ lotto is up to $20 million, and the highest Australian jackpot ever was $150 million in 2019. I wouldn't mind $150 million, but $1 billion is far better.