Author Topic: California person wins the powerball (Read 6053 times)

Bevo · « **on:** June 11, 2017, 02:59:43 PM »

Wow! Again! This state is always winning, hmmm conspiracy or just plain luck?

stuntmovie · « **Reply #1 on:** June 11, 2017, 04:47:39 PM »

How much? Someone next door says, "A half a billion!"

Bevo · « **Reply #2 on:** June 11, 2017, 04:55:46 PM »

Quote from: stuntmovie on June 11, 2017, 04:47:39 PM

How much? Someone next door says, "A half a billion!"

447 million

So after taxes, the winner should get around 200 mil I'm guessing

NelsonMuntz · « **Reply #3 on:** June 11, 2017, 05:19:33 PM »

so bullshit that they tax it, then they pull the "lump sum or over 20 years bullshit"

In canada the jackpots are smaller ($50-60 million jackpot every couple weeks) but at least you get to keep the whole fucking thing tax free is you win

They should not call it the $447 million powerball but the $223.5 million after tax powerball

Las Vegas · « **Reply #4 on:** June 11, 2017, 05:24:39 PM »

If that's the case (one person), shows how crazy-stupid the odds are.

Bevo · « **Reply #5 on:** June 11, 2017, 07:53:11 PM »

Quote from: NelsonMuntz on June 11, 2017, 05:19:33 PM

so bullshit that they tax it, then they pull the "lump sum or over 20 years bullshit"

In canada the jackpots are smaller ($50-60 million jackpot every couple weeks) but at least you get to keep the whole fucking thing tax free is you win

They should not call it the $447 million powerball but the $223.5 million after tax powerball

I agree

I don't know if California winners can take lump sum, I think it's over 30 year payments, I could be wrong

FREAKgeek · « **Reply #6 on:** June 11, 2017, 07:59:33 PM »

Quote from: NelsonMuntz on June 11, 2017, 05:19:33 PM

so bullshit that they tax it, then they pull the "lump sum or over 20 years bullshit"

In canada the jackpots are smaller ($50-60 million jackpot every couple weeks) but at least you get to keep the whole fucking thing tax free is you win

They should not call it the $447 million powerball but the $223.5 million after tax powerball

I'd rather get it over 20 years. I'd be scared of blowing it all. I know getbiggers make more, but 12 mil per year or so, that wouldn't work for you? You'd have the credit for nearly anything you want, unless you're a complete dindu.

el numero uno · « **Reply #7 on:** June 11, 2017, 08:28:39 PM »

Quote from: Las Vegas on June 11, 2017, 05:24:39 PM

If that's the case (one person), shows how crazy-stupid the odds are.

1 in 292 millions.

jude2 · « **Reply #8 on:** June 11, 2017, 08:35:16 PM »

Maybe they can pay for the safe spaces, so the tax payers don't have to.

Obvious Gimmick · « **Reply #9 on:** June 11, 2017, 08:45:44 PM »

It was in meneffee. So it was a wetback...or esfitness

Tapeworm · « **Reply #10 on:** June 11, 2017, 08:54:30 PM »

I want to see a legitimate winner not get paid just to see how much the dude flips out.

And the IRS keeps billing him $200 million and threatening him with prison if he doesn't hand it over.

Dude would be beside himself.

Mr Anabolic · « **Reply #11 on:** June 12, 2017, 04:51:12 AM »

Quote from: Bevo on June 11, 2017, 04:55:46 PM

447 million

So after taxes, the winner should get around 200 mil I'm guessing

Most winners take the cash option, which is half of the jackpot = $225 mil... then you need to deduct 40% taxes from that, which leaves you with $133 mil. It's a scam.

By and large, state lotteries are government rackets. Most of the money collected does not go into the pot, the states steal a good portion of it. They take the cake, you get the crumbs.

NelsonMuntz · « **Reply #12 on:** June 12, 2017, 05:14:24 AM »

Quote from: Mr Anabolic on June 12, 2017, 04:51:12 AM

Most winners take the cash option, which is half of the jackpot = $225 mil... then you need to deduct 40% taxes from that, which leaves you with $133 mil. It's a scam.

By and large, state lotteries are government rackets. Most of the money collected does not go into the pot, the states steal a good portion of it. They take the cake, you get the crumbs.

so wait it is not even a $447 million gross?

surprising no lawyer has jumped on that bit of false advertising trickery.

Reality is the government gets $325 million, plus the sales of the tickets in the first place

stuntmovie · « **Reply #13 on:** June 12, 2017, 08:55:25 AM »

"By and large, state lotteries are government rackets. Most of the money collected does not go into the pot, the states steal a good portion of it. They take the cake, you get the crumbs."

Mr Anabolic, Wasn't that the main reason why these lotteries were established in the first place?

If so, it seems to be working well, but I do agree that they should change the amount of the expected winnings to the amount one would actually receive

And the IRS and the State Tax Boards should allow the amount that the state gets to be a deduction on the Federal and State tax returns.

Or something like that.

BTW, a family member won a lottery twice. Each winning amount was over one-million.

And there are a number of winning lottery systems available if anyone is interested.

Each system devised by various lottery users.

stuntmovie · « **Reply #14 on:** June 12, 2017, 08:59:53 AM »

I forgot to add the following ...

$1,54 billion, Power ball, was won January 13, 2016.

But there were three winners!

I wonder how each of those winners felt?

ratherbebig · « **Reply #15 on:** June 12, 2017, 09:05:16 AM »

how about winning the genetic lottery and become mr olympia would you rather that happening to you than the powerball

sync pulse · « **Reply #16 on:** June 12, 2017, 10:16:15 AM »

The bigger the payout, the less likely you will win...If you are going to play, play the ones where the payoff is around $200,000.00...It is still enough to be life changing if you are not stupid with it, but the odds are less astronomical.

jude2 · « **Reply #17 on:** June 12, 2017, 06:53:39 PM »

Maybe an illegal won

Bevo · « **Reply #18 on:** June 12, 2017, 06:55:05 PM »

Quote from: ratherbebig on June 12, 2017, 09:05:16 AM

how about winning the genetic lottery and become mr olympia would you rather that happening to you than the powerball

That's the ultimate dream, much more lucrative than winning the powerball

cephissus · « **Reply #19 on:** June 12, 2017, 07:52:52 PM »

What sort of idiot would even want a couple hundred million for free... Probably the sort of moron who would consider buying a lottery ticket.

ratherbebig · « **Reply #20 on:** June 13, 2017, 02:47:07 AM »

how about the winner has to buy lottery tickets to people for the money he won?

the reward is the journey etc etc

Mr Anabolic · « **Reply #21 on:** June 13, 2017, 04:22:40 AM »

Quote from: stuntmovie on June 12, 2017, 08:59:53 AM

I forgot to add the following ...

$1,54 billion, Power ball, was won January 13, 2016.

But there were three winners!

I wonder how each of those winners felt?

How many times did it have to rollover to get to that point... 15-20x ?

Powerball and Mega Millions are practically impossible to win. You have a better chance of dying 30 seconds after you read this. You could play everyday for 1000 lifetimes and never hit it. Play ONE ticket for the entertainment value... that's it.

sync pulse · « **Reply #22 on:** June 13, 2017, 11:01:42 AM »

CalvinH · « **Reply #23 on:** June 13, 2017, 02:30:51 PM »

Hard to believe a state with 10,000,000 more people then the next closest state wins more lotteries then other states....

El Diablo Blanco · « **Reply #24 on:** June 14, 2017, 07:00:26 AM »

Quote from: el numero uno on June 11, 2017, 08:28:39 PM

1 in 292 millions.

The odds are based on the population of the combined states that participate. When California joined the Powerball they had to add more numbers to the lot to increase the odds of winning. basically Powerball is played in almost all states now hence the odds of 1 in 292 million. Also each state has side bets on the Powerball that only the state collects. California refused to stay out of the Powerball because they wanted to divide the proceeds based on number of states and not population and California was like fuck that. If they 40 million people are contributing vs. the 1 million in Rhode Island they are not splitting it evenly so eventually they caved and decided to make it proportional to the population.

The fact it is taxed is complete bullshit since it's already post tax money that people use to buy.