gonna put in $20 with a 2 guys and hopefully be getting $107M each. dad wired me 300 to buy him 150 tickets. if and when we win, 10% off the top to charity. 5 kids split 50% of the rest. Cool with a nice $28.89m
So I don't understand math, taxes, and the lotto. So the jackpot is $700 mil and after taxes the cash value is $428.4 mil? And/or if you choose the lump sum option? Why does that Powerball Jackpot Analysis website say Texas net payout is $321,300,000?
the lump sum is 428.4, then its taxed though the total will end up higher once all tickets are bought
I remember reading an article a few months ago when they added the extra number that said it wouldn't be long before a jackpot got to a billion.
I thought I read somewhere they thought it had a chance to get to a billion by Saturday? Maybe I read it wrong.
May get to a billion by Saturday. Last Monday it was around $375 and ended up at $500 wednesday, still having 2 days to buy tickets will bring it close.
guys we all know it will be 5 separate winners to include a meth head in missouri who will be broke in 4 years. its science.
How do federal taxes work on this? The website linked says 25% but I've seen other places say 25% is withheld when you receive your check but you will still be responsible for making up the difference to pay in 39.6%
just like everything else, you pay the estimated taxes the next quarter (unless you want a penalty) then true it up by 4/15.
The local bar I go to got a pool going and bought 50 tickets. I ended up buying another 10 myself, no way in the world I don't win some part of this jackpot!
the line at the grocery store was super long, filled with trashy people who don't belong in my neighborhood i bit the bullet and joined the line and bought myself $10 worth of tickets.
Figuring that the same combination of numbers can be chosen multiple times, its still a one in 300 million chance someone got it. There is no way to "get the right numbers because more people are playing" its more based on how many different combinations were purchased. Think of it like rolling a dice. Every time you roll the dice, you have an equal chance of getting the same number every time. BUT the equilibrium theory comes into play as since the same chance for every number equally chanced to be rolled, it should be an equal number of rolls per side of the dice. Or close to it anyway...