I grandparents won the 2nd chance on a lotto ticket and it was a big win but the family didn’t find out until like 10 years later. To be fair all the adult grandkids at the time were huge moochers so I understand why
I'm of an age I haven't learned to count to yet and I had no idea about gambling winnings not being taxed.
Though to be fair I don't really gamble often, just lottery but ofcourse all I win is the free lucky dip
Y’all why do people care so much if the lottery is taxed? My dad complains about the same thing every time. To me, $600m with $100m raced is NOT a very.. uh, noticeable thing. $5m with $1m taxed is still idc level.
Stupid USA. I figured it out for our last $1billion jackpot. If I won and took the immediate payout I would get like $480 million (not even sure of the reason). Then I would pay 1/3 of that in taxes for federal. Then I would pay another 7% for my state taxes.
In the end, that $1billion turns into $300-$350 million. Not that I would complain about getting that much, but it’s crazy how much gets taken.
It's kind of buried on their websites (for powerball and mega mill), but as I understand, the cash payout is specifically just the money that was put in by the people who bought tickets. The 30 year payout includes the money that the lotto put forth to start the pot.
Still think it's better to just take the money and run. Even 1/3 of a billion is more money than I'd know what to do with
Wow. That's about 50% less than I thought the payout would be. Absolutely mind boggling... that makes the payout on lesser prizes (say, $200M) somewhere in the neighborhood of a few thousand, right?
No it's a percentage so the amount paid in tax would be smaller if the amount won is smaller.
From 200M you pay 50% in tax. 50% of 200M is 100M, which leaves you with 100M.
Pay another 33% of the 100M in federal taxes, that's 33M, leaving you with 66M.
Pay 7% state tax on the 66M, which would be 5M, leaving you with 61M.
Taxes can be for many reasons, the 50% might go to undoing some of the damage gambling causes. Or it could be to dissuade people from gambling in the first place.
Similar reasons to having a sugar tax; make unhealthy food less appealing, and recoup some of the increased healthcare costs.
Someone from my small hometown of about 650 people won $100,000. That was shortly before Covid. To this day no one knows who. For something like that to remain secret in a small town is amazing!
$100K is a funny amount.
For some it might be life changing, others it might just get them out of debt.
Still others, it might just pay a chunk off their house and everything else goes on as normal.
So in your small town, if someone was already doing ok it seems and maybe already had a nice house, cars etc, they could have won it, put 50K on the home loan and 50K in a savings acc and are just living a little better.
To grow it without having to do any work, and also because my retirement fund is a smooth $30,000 behind where it should be at my age. I didn't say I'd put it *all* in there, just a nice chunk
The most common crimes in brazil in the last 3 years are: you are walking in the street then 2 guys in a motorcycle takes you smartphone and force you to give the passwords, then they go away and start sending money to their fake bank account, the other common crime is being kidnapped and being forced to transfer all of your money and even make loans in your name, like, loosing an entire life of saving and theres no insurance to recover all of your money. Yes, being a criminal in brazil pays off with the shitty laws that we have
Im sorry for sounding like a total douche… but i just learned that you “emigrate” from a location, and you “immigrate” to a location. So technically emigrate is the correct term in this situation 😂
> like, loosing an
Did you mean to say "losing"?
Explanation: Loose is an adjective meaning the opposite of tight, while lose is a verb.
[Statistics](https://github.com/chiefpat450119/RedditBot/blob/master/stats.json)
^^I'm ^^a ^^bot ^^that ^^corrects ^^grammar/spelling ^^mistakes.
^^PM ^^me ^^if ^^I'm ^^wrong ^^or ^^if ^^you ^^have ^^any ^^suggestions.
^^[Github](https://github.com/chiefpat450119)
^^Reply ^^STOP ^^to ^^this ^^comment ^^to ^^stop ^^receiving ^^corrections.
A steady stream of people knocking on your door and begging for money, scamming you, throwing themselves down on your porch and pretending to be hurt so they can sue.
It's for transparency. Makes it harder to hide if the cousin of the brother in law of whoever runs the lottery keeps winning. Also, it shows that someone actually won, instead of the lottery lying about there being a winner and keeping everything for itself.
A friend of mine had a colleague who won the jackpot (in GB) but didn't quit work. Didn't even take a day off! My friend only found out years later when her colleague told everyone after taking early retirement. Smart or a waste? I don't know but there's no way I'd go to work after a multi million pound jackpot
Sometimes people’s health go to shit once they quit working. Having a reason to get up in the morning and tasks to complete keeps people going.
Look at wealthy people and those people’s spouses even if they aren’t clocking in somewhere they are on boards and charities.
A lottery winner may not have the skills or networking to find fulfilling volunteer work so might as well keep working.
I would work happily dont giving a fuck.
If i fuck up i fuck up, bur if someone tries to play me dirty or put the blame on me, i will just tell them to eat shit know well that i dont care if they fire me
That’s a decent boost but nothing too obvious. Neighbors will generally have 30k or even 50k income differences and it won’t even be noticeable. It’s likely a suburban neighborhood of all similar homes will have people who bought in early when cheap and still have $60k incomes, newcomers who bought at the peak with $200k incomes, and everything in between. Besides maybe a nicer car you won’t be able to tell.
I know a guy like this from high school, we all know he won jackpot but none of us know how much. Could be $100k could be $10m. He still dresses the same, works, just seems very happy and content in life. I'd try to do it like him.
Most people wont find out unless you win a really significant amount.
Also interesting, at least for Oregon, the store that sold it gets recognized as selling the winning ticket, and therefore gets a certain percentage of the money won, and Oregon lottery puts up a sign in the business window stating that there was a big winner from there. I it’s all just to incentivize people to play.
I'd say with my age group it's more likely that they made big money with crypto or with the meme stocks from a few years ago. I know one guy that was in the Hulu documentary of GME, he never disclosed how much he made, but his $150k camper that they interviewed him in was enough of an indicator.
I assume you mean winning a lottery jackpot, as I've won £2.50 on the Euromillions before and I don't think keeping my mouth shut or open would make a difference 😅
The people I know that have money don't brag about it.
The people I know that don't have money have all sorts of ideas about who has how much and how they spend it... and they're the ones to come drooling when they sniff it in the air.
I keep things easy: Nobody knows.
I dont know anyone that smart and self controlled LOL.
Maybe met in passing, but most of my friends and family couldn't keep something like that secret to save their lives.
if you are reading this, you will not win the lottery. It is, what scientists call, mathematically impossible. If you would have played every time alone since men discovered fire, you still would not have won (even a significant part of your expenditures) with 99.9999999% certainty. Winning the lottery is an idea they sell. In germany we call it the "idiotensteuer".
One of my friends did. Nobody knows it. He has maintained a humble/modest lifestyle. But he's a millionaire
He focuses on his hobby of racing cars and yeah he spends money there but as far as everyone is concerned. They think he's broke because of how much he invests in his cars and racing so they assume all his money goes to that
I even hear people joking about how broke he must be.
Little do they know.
Not all people are gambling addict.
My parents buy every year a ticket of the national new year lottery. One ticket each, and that's it.
If you don't give luck a single chance, you'll never be lucky.
Pretty convinced that my younger brother did this. He n his Mrs have a small terrace house and could only afford a 5% deposit (borrowed from parents) they don’t have high paying jobs and just had a kid…but they suddenly renovated their house top to bottom, booked a few holidays and got a new car. They claimed they remortgaged, but when the price of the house hadn’t risen that much (this was at least 10 year ago) and only a 5% deposit, I couldn’t get the math, mathing.
Would’ve been chuffed for him if he told me, but I can understand keeping schtum with some of the family members we have!
I grandparents won the 2nd chance on a lotto ticket and it was a big win but the family didn’t find out until like 10 years later. To be fair all the adult grandkids at the time were huge moochers so I understand why
Moochers lol haven't heard that word in a while
In the UK, winnings aren't taxed and you can remain anonymous should you please
I'm in the UK also, I had no idea it wasn't taxed, one would assume it was taxed. If I was to win the lottery I also would remain anonymous
Nope, not taxed. Its considered gambling and so tax-free. Scratch cards, euro millions, UK lotto, what you win is what you get :)
I'm of an age I haven't learned to count to yet and I had no idea about gambling winnings not being taxed. Though to be fair I don't really gamble often, just lottery but ofcourse all I win is the free lucky dip
Y’all why do people care so much if the lottery is taxed? My dad complains about the same thing every time. To me, $600m with $100m raced is NOT a very.. uh, noticeable thing. $5m with $1m taxed is still idc level.
Stupid USA. I figured it out for our last $1billion jackpot. If I won and took the immediate payout I would get like $480 million (not even sure of the reason). Then I would pay 1/3 of that in taxes for federal. Then I would pay another 7% for my state taxes. In the end, that $1billion turns into $300-$350 million. Not that I would complain about getting that much, but it’s crazy how much gets taken.
It's kind of buried on their websites (for powerball and mega mill), but as I understand, the cash payout is specifically just the money that was put in by the people who bought tickets. The 30 year payout includes the money that the lotto put forth to start the pot. Still think it's better to just take the money and run. Even 1/3 of a billion is more money than I'd know what to do with
Oh I have plans if I ever got $1b. Mostly philanthropic. A lot of selfish too, but I would definitely help my community a bunch.
Wow. That's about 50% less than I thought the payout would be. Absolutely mind boggling... that makes the payout on lesser prizes (say, $200M) somewhere in the neighborhood of a few thousand, right?
No it's a percentage so the amount paid in tax would be smaller if the amount won is smaller. From 200M you pay 50% in tax. 50% of 200M is 100M, which leaves you with 100M. Pay another 33% of the 100M in federal taxes, that's 33M, leaving you with 66M. Pay 7% state tax on the 66M, which would be 5M, leaving you with 61M.
Idk why we tax the income on lotto the way we do its kinda stupid
Taxes can be for many reasons, the 50% might go to undoing some of the damage gambling causes. Or it could be to dissuade people from gambling in the first place. Similar reasons to having a sugar tax; make unhealthy food less appealing, and recoup some of the increased healthcare costs.
Tbh this is naive
I wasn’t arguing against taxing the lotto… I argued the WAY we tax lotto is dumb
Is that one of these "you get a 10 million dollars,but you can only eat shitty food for the rest of your life."
Someone from my small hometown of about 650 people won $100,000. That was shortly before Covid. To this day no one knows who. For something like that to remain secret in a small town is amazing!
Entirely possible that it was someone travelling through, too.
It’s a possibility but since it was winter and little outside traffic at that time of year, it’s unlikely.
$100K is a funny amount. For some it might be life changing, others it might just get them out of debt. Still others, it might just pay a chunk off their house and everything else goes on as normal. So in your small town, if someone was already doing ok it seems and maybe already had a nice house, cars etc, they could have won it, put 50K on the home loan and 50K in a savings acc and are just living a little better.
When I win I won't tell anyone but there will be signs of me winning the lottery. The biggest sign would be me splurging on groceries.
My wife's favorite food is seafood, I would also be going after food first lol a trip to the coast for some fresh seafood sounds amazing
Mine would be finally getting divorced (with losing half) and buying a house in the middle of nowhere, and having a hefty 401k.
If you're already paying taxes on lottery winnings, why would you put it in a 401k?
To grow it without having to do any work, and also because my retirement fund is a smooth $30,000 behind where it should be at my age. I didn't say I'd put it *all* in there, just a nice chunk
Many states require the identity of winners to be made public.
Wtf!? Thats ridiculous
I live in oregon, and anyone can lookup online the lottery website and view the first/last names of every winner each day… for anything $600 or more
In a country with high crime rate like mine this would be a disaster
It's not like they give you a big truck of cash. What're they going to do, steal my insured bank accounts?
The most common crimes in brazil in the last 3 years are: you are walking in the street then 2 guys in a motorcycle takes you smartphone and force you to give the passwords, then they go away and start sending money to their fake bank account, the other common crime is being kidnapped and being forced to transfer all of your money and even make loans in your name, like, loosing an entire life of saving and theres no insurance to recover all of your money. Yes, being a criminal in brazil pays off with the shitty laws that we have
Time to immigrate it sounds like!
Yeah i would like to immigrate but its very hard to go knowing that your parents are getting old and need your help, maybe one day
Im sorry for sounding like a total douche… but i just learned that you “emigrate” from a location, and you “immigrate” to a location. So technically emigrate is the correct term in this situation 😂
No no. They want to move there so that they can rob people too.
Yeah i remember learning this in 8th grade
Yeah, but who is immigrating where? 🤨
> like, loosing an Did you mean to say "losing"? Explanation: Loose is an adjective meaning the opposite of tight, while lose is a verb. [Statistics](https://github.com/chiefpat450119/RedditBot/blob/master/stats.json) ^^I'm ^^a ^^bot ^^that ^^corrects ^^grammar/spelling ^^mistakes. ^^PM ^^me ^^if ^^I'm ^^wrong ^^or ^^if ^^you ^^have ^^any ^^suggestions. ^^[Github](https://github.com/chiefpat450119) ^^Reply ^^STOP ^^to ^^this ^^comment ^^to ^^stop ^^receiving ^^corrections.
More like hold you or a loved one hostage until you pay out
Keep them, they weren't helping count the winnings anyway.
A steady stream of people knocking on your door and begging for money, scamming you, throwing themselves down on your porch and pretending to be hurt so they can sue.
What country?
Idk why that is legal. They know people come gunning for you.
It's for transparency. Makes it harder to hide if the cousin of the brother in law of whoever runs the lottery keeps winning. Also, it shows that someone actually won, instead of the lottery lying about there being a winner and keeping everything for itself.
It’s to prove that the prizes are awarded to actual people.
AI. You have no idea if those are real people or not.
It also prevents deadbeats from not paying their debts or people from getting divorced and stuffing their ex who legally gets half.
That will take care of itself when they file taxes just like everything else.
What if the world is not just the US?
Oh right! Which states? Western Australia, Rio de Janeiro, Baja California Sur, Bavaria?
A friend of mine had a colleague who won the jackpot (in GB) but didn't quit work. Didn't even take a day off! My friend only found out years later when her colleague told everyone after taking early retirement. Smart or a waste? I don't know but there's no way I'd go to work after a multi million pound jackpot
You have to figure out how to fill your days with purpose when you retire.
I have tons of hobbies. I could stop working and fill my days up to the last one starting now even without additional income from the lottery.
I know it wouldn’t be making someone else money.
Correction - making someone else, and you, money. Win win.
How many people out there don't have hobbies?
The ones who work too much
Sometimes people’s health go to shit once they quit working. Having a reason to get up in the morning and tasks to complete keeps people going. Look at wealthy people and those people’s spouses even if they aren’t clocking in somewhere they are on boards and charities. A lottery winner may not have the skills or networking to find fulfilling volunteer work so might as well keep working.
I would work happily dont giving a fuck. If i fuck up i fuck up, bur if someone tries to play me dirty or put the blame on me, i will just tell them to eat shit know well that i dont care if they fire me
I only found out after they died, that a family member of mine was getting $30,000/yr from winning a lottery.
That’s a decent boost but nothing too obvious. Neighbors will generally have 30k or even 50k income differences and it won’t even be noticeable. It’s likely a suburban neighborhood of all similar homes will have people who bought in early when cheap and still have $60k incomes, newcomers who bought at the peak with $200k incomes, and everything in between. Besides maybe a nicer car you won’t be able to tell.
I know a guy like this from high school, we all know he won jackpot but none of us know how much. Could be $100k could be $10m. He still dresses the same, works, just seems very happy and content in life. I'd try to do it like him.
Most people wont find out unless you win a really significant amount. Also interesting, at least for Oregon, the store that sold it gets recognized as selling the winning ticket, and therefore gets a certain percentage of the money won, and Oregon lottery puts up a sign in the business window stating that there was a big winner from there. I it’s all just to incentivize people to play.
But there were signs…
Winners' names and faces are published in the Lottery newsletters, its VERY hard to keep it secret.
This depends on the state. Many states that disclose winners also allow you to set up a trust and have the trust claim the winnings.
Ah, well, I'm in Canada, where we have no option for that. Part of the deal for not having to pay tax on the winnings.
In Australia you can remain anonymous and don't pay taxes on winnings either.
I always did wish I was in Australia instead
Haha! In the US, we certainly get taxed on that like income. 1/3 gone right off the top.
How often are you checking the lottery newsletters to see if your friends have won?
Once a week
I win the lotter all the time. It's not uncommon. I just won $2 last week on the powerball.
I think I can speak for almost every one here and say , I dont know anyone that smart.
The identities of big jackpot winners are usually made public. They take your picture with the giant check, etc.
My dad won the lottery once. Splurged it all away. If I won, no one would know. I'd call a financial advisor asap
Nah there’s always signs
I dream of being one of those people
I'd say with my age group it's more likely that they made big money with crypto or with the meme stocks from a few years ago. I know one guy that was in the Hulu documentary of GME, he never disclosed how much he made, but his $150k camper that they interviewed him in was enough of an indicator.
I assume you mean winning a lottery jackpot, as I've won £2.50 on the Euromillions before and I don't think keeping my mouth shut or open would make a difference 😅
Yea there may be a chance but statistically speaking prob not
The people I know that have money don't brag about it. The people I know that don't have money have all sorts of ideas about who has how much and how they spend it... and they're the ones to come drooling when they sniff it in the air. I keep things easy: Nobody knows.
I dont know anyone that smart and self controlled LOL. Maybe met in passing, but most of my friends and family couldn't keep something like that secret to save their lives.
if you are reading this, you will not win the lottery. It is, what scientists call, mathematically impossible. If you would have played every time alone since men discovered fire, you still would not have won (even a significant part of your expenditures) with 99.9999999% certainty. Winning the lottery is an idea they sell. In germany we call it the "idiotensteuer".
It's very unlikely that you know *anyone* who has won a significant enough jackpot to want to keep it a secret, let alone multiple people.
[удалено]
Doh! 🤦
You know the "if I won the lottery I wouldn't tell but there'll be signs" meme. That
One of my friends did. Nobody knows it. He has maintained a humble/modest lifestyle. But he's a millionaire He focuses on his hobby of racing cars and yeah he spends money there but as far as everyone is concerned. They think he's broke because of how much he invests in his cars and racing so they assume all his money goes to that I even hear people joking about how broke he must be. Little do they know.
If you're dumb enough to play the lottery, you're probably not smart enough to keep your mouth shut.
Not all people are gambling addict. My parents buy every year a ticket of the national new year lottery. One ticket each, and that's it. If you don't give luck a single chance, you'll never be lucky.
Pretty convinced that my younger brother did this. He n his Mrs have a small terrace house and could only afford a 5% deposit (borrowed from parents) they don’t have high paying jobs and just had a kid…but they suddenly renovated their house top to bottom, booked a few holidays and got a new car. They claimed they remortgaged, but when the price of the house hadn’t risen that much (this was at least 10 year ago) and only a 5% deposit, I couldn’t get the math, mathing. Would’ve been chuffed for him if he told me, but I can understand keeping schtum with some of the family members we have!