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Lottery Jackpot

NewYorkSpurs

NewYorkSpurs

Steven Caulker
The lottery jackpot here is a world record $640 million (400,425,600 pounds). If I win, I think I'm going to buy a League 1 team and just bring them up to the Prem. Anyone wanna come along for the ride?
 
DHSF said:
If you do infact win may I borrow 100k? That is all I ask
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If I win I'm going to develop a system where I throw absurd amounts of money at friends to do silly tasks. You'll have to earn in it some sort of debased way.

BUT, I will certainly be flying out to London and getting a box at WHL for all of us glory glory'rs.
 
I heard once that with the american lottery you are not allowed it all in one go is that correct?

Never play the lottery because i do not agree of the causes they give money to but good luck to those who do. If i came into a load of money i would build my dream home, very eco style with hints of art deco and would have an amazing indoor garden, then i would but a couple of new kites for when i go surfing, give my wife some money for new shoes. Buy my boy a flat for when he is older, then i would give the rest away.
 
japenesegardenlover said:
I heard once that with the american lottery you are not allowed it all in one go is that correct?

Never play the lottery because i do not agree of the causes they give money to but good luck to those who do. If i came into a load of money i would build my dream home, very eco style with hints of art deco and would have an amazing indoor garden, then i would but a couple of new kites for when i go surfing, give my wife some money for new shoes. Buy my boy a flat for when he is older, then i would give the rest away.
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You can either take a lump sum or a 26 year annuity. The 26 year annuity is in full and untaxed, the lump sum takes off some and then more for tax. But still, the lump sum for this is 462 mill. Figure you take off about 150 more or so in tax, and you end up with a little over 300 mill at one time. So hard to pass that up..
 
All I want to win is ?ú1m. I say all like its nothing ha ha but here's my logic.

Buy a 3 bed for ?ú200,000 and live off the rest plus interest. My salary is ?ú27650 no way I'm gonna earn a million before I retire in 35 odd years. I wouldn't be greedy that's for sure.
 
Er arent lottery wins tax free?

Obviously after you start investing etc then youre liable but thats about it
 
DHSF said:
Er arent lottery wins tax free?

Obviously after you start investing etc then youre liable but thats about it
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in the UK, yes

in the US - NOPE! subject to federal tax and i think also state tax in some states (im guessing everywhere except nevada or if you live on a reservation!)

i think im also correct in saying the winning are paid to you over the course of your lifetime, not all at once. so i guess then they are taxed via yearly return - so you loss more the older you get!! (unless taxes go down - yeah, right!)
 
i just looked into it a bit more and now my head hurts!!

NY - which lottery in the US has this big old jackpot?

and can you clear up the above?
 
Good luck mate.

Most I've ever had is 5 on the normal lottery. 2k. 1 more number,?ú4m. Ridiculous really

3 numbers should be ?ú900,4 should be ?ú75005,5 should be 100k & jackpot should be ?ú1m. I know it's geared so it's basically jackpot or fudge all but its a joke.

I got 3 numbers & 1 lucky star on the euros the other week....?ú11. The odds of getting that are 654/1.
 
Had 5 numbers once but only had ?ú756 back, ridiculous when you think how much more 6 numbers wins.
 
For those that don't know twice daily in every bookies a '49's draw takes place. Just like the lottery except

1 number is 6/1
2 numbers 53/1
3 numbers 600/1
4 numbers is 8000/1
5 numbers is 80000/1
6 numbers is 1000000/1

I think those are the correct odds definitely correct up to 3 numbers. If you want to include the booster/bonus ball the odds become 5/1, 30something/1 329/1 and a bit more for 4+.

Anyway point is much better than the lottery if you only want 1-3 numbers. I often pick my 6 numbers and perm them for trebles which means if 3 come in I win ?ú600. Stake is ?ú20.00 for a ?ú1.00 unit stake.

Well worth a shout.
 
monkeybarry said:
i just looked into it a bit more and now my head hurts!!

NY - which lottery in the US has this big old jackpot?

and can you clear up the above?
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This is called the "Mega Millions" jackpot. There's a lot of different state lotteries, but this is sort of a conglomerate.

You can either take a lump sum at once, which would here amount to something like 489 mill before tax, or take an annuity of the full 640 over 26 years. Both would be taxed after you received the cash.
 
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