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In the last few weeks Americans have been very lucky in the lottery, this time there is a man who won $ 1 billion dollars from the mega million lotteries.  btw, I have tried playing mega billions several times at (cut this part) but never had any luck.  for unclear reasons, the man's identity is still a secret.  



the tax cut was huge but I sure it certainly wouldn't piss him off.  has anyone ever tried to play this and do you lucky??

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https://en.wikipedia.org/wiki/Mega_Millions
https://abcnews.go.com/US/mega-millions-jackpot-reaches-billion-2nd-largest/story?id=75428813&cid=clicksource_4380645_8_heads_hero_live_headlines_hed
https://www.yahoo.com/gma/mega-millions-jackpot-reaches-1-175200317.html

This is the 2nd big win i saw recently which is quite amazing. Recently Toronto women win jackpot lottery (https://bitcointalk.org/index.php?topic=5310914.0). Its seems many people are winning lottery and jackpots as 2021 looks lucky for the gamblers and risk takers.

Good news for these people who've been lucky enough despite of challenging year because pandemic hasn't gone over. However, being so blessed with the jackpot winnings doesn't mean we're going to have permanent status of wealth. That needs to be managed according to your spending needs. We also need to consider those times that we've lost so much money, and value the most recent days that got an abundant funds to start a new way of life using that money, for a new sustainable and profit gaining business.

wow what a nice welcome for 2021 for this guy lucky him .

if you dont win thats not a surprise because this is lottery with huge prizes and its harder to win than small kinds of lottery but keep on trying you never know when luck strikes at you . if this guy can win why not you ?

but for his prize , i would choose to recieve the cash anually because that is for my safety and i can get my prize bigger than getting it on one time payment where the prize is cut almost at half .

That’s a ridiculous amount of money to win, congratulations to him. He has now secured full financial security for his family bloodline for probably 1000 years or more. I am insanely jealous of stories like this but you’ve got to be in to win it so keep playing, you never know, one day it could be one of us.

I thought the website mentioned by the OP is the one on the subject.

Before anything else, is that website legit?

About the Jackpot winner, congrats to who it is. It's reasonable that identity will keep secret on that matter. But for that $1B jackpot, how long it takes before it was hit by a winner? I don't know the criteria on that lottery but there is a base jackpot first right? Then the pool will increase over time until someone will hit it.

sorry I accidentally included the site (sites that I play), I cut it so that nothing bad happens in the future..

yes, this year looks very good for risk takers..

What an amazing hit! This is only a few rare hits when it comes to lottery and into this prize. What pisses me off that the lottery company itself doesnt really give out
the winnings in full. What the heck with those kind of agreement or terms? annual payment for 29 years or direct cash but having the prize cut in half? thats bullshit.
Here in my country the winning amount is paid in full without any tax.Well, its a government-ran lottery though so its expected for it to be on the exclusion
side.

This guy would be add up on the history into those who had win up a billion hit.
https://en.wikipedia.org/wiki/Lottery_jackpot_records

Most of them do hit up on Powerball lottery and megamillions for those top 1-10.
You would need an extreme luck as usual when hitting up those combinations.Odds are way to small.
This is a good year for that guy and a life changing amount for an individual.

If he gets this billion in cash, he needs to mix (like salad or soup) from time to time so they wont rotten  ;D

Ive read an article recently where a guy found his old paper with login an account with bitcoins, sold them in a rush for $3-4 millions and deleted all his social media accounts. I wonder if this jackpot winnner gonna something of that kind. Like hiding from relatives.

Situation that cant really be avoided and this guy is a little bit wise on taking such action because those social media accounts or even his own personal email or would really get or been flooded thru text
will really happen. He's just fast enough to avoid those things though but it would be useless for those who do know his residence.  ;D Unless if he do buy some new house or location then that would
really be a good thing. For 1B jackpot winner then expect for such begging, not only into your relatives but also into other people that know you as well.This is not a small amount that had won and just
like what others been complaining about the tax then it is really just too big.I cant afford to lose up a half of winnings and imagine that 500M would be cut then you would really be fighting for it
but if you are too impatient or cant really wait then you would really take the deal.

A huge payoff that completely changes the life of both the average person and the millionaire, just WOW!
I wonder if anyone agreed to receive annual payments instead of taking the winnings immediately, even if they paid taxes? It seems to me that it is best to completely manage your money yourself.

Congratulations to that lucky boy. If I'll be getting the payments, I'll get the lump sum or one-time cash payment of it considering that inflation gets higher per year although that would be still a huge amount for 29 consecutive years.
The winner is going to live in his dreams once he gets the prize money. He can expose who he is after 30 years.  :P

The tax was really huge, in our country, lottery winning is free of tax, but who would complain if you win this amount, even half of $1 billion could already change the life of a person especially if he is struggling financially. What a lucky person, I never heard this kind of big winning before, probably the biggest win in lottery history.

Actually, there is nothing wrong to include the site name as long as it was verified as legit by the majority and you actually played there without a problem. It's just surprised me that it's a bitcoin lottery site wherein there are only a few that really stand out on that particular service in crypto gambling.

And when mentioning other sites, make a separate line of it as newbies might get mislead.

But I agree better be safe so let's forget about that site now. :D

And to think he's the only one who are so lucky to take home the prize! With thousands or perhaps millions of people who are betting in lotterry and that one winner surely is super lucky.. $739 million clean and less tax already is a huge decent win. Hope that guy will gonna be wise handling the money. It can definitely change his life in an instant.

And about the options, whatever the guy choose to take the prize. I believe he will definitely choose the right one. Afterall, 29million for annually is still a big one.

Pure luck I guess, all stars have aligned the day the numbers are being drawn and no one can stop this man from winning one of the biggest lottery in history.  ;D

Interesting what choice he gonna make, the tax are huge for one time payment, but I guess it's worth it. I guess a question for us all, what we gonna do if we won that huge windfall? How much are we going to invest on crypto currency?

When a person can win huge money from the lottery, that is because of his luck. We know that lottery is one of the gambling games based on the luck, so it is difficult to win on that game, even to win small money. Everything will change if his luck is come at the right time and in the right place, and if that person only bought 1 ticket, I believe he can win huge money. People can buy a big amount of tickets, but it will be impossible for him to win that money if he doesn't have luck.

I never get lucky in the lottery games, in real life or the gambling website. I do not have that luck in that game, so I never think too much about winning on the lottery game.

Wow, that is a really huge amount of money, Imagine if you are the one who wins that amount of money then for sure your life will be surely secured, you don't need to work anymore just create a good business. I just get crazy with the tax that they have offered if the winner will going to take the prize in cash, it is almost half a record prize. This is a good start to 2021 for him, I haven't tried that mega million jackpot but I got curious because of it.

That still pisses others since it's like they got a half cut of the total winnings when in fact you're the lucky one but we couldn't disagree on that as well if it's per the rules of the lottery winnings to be taxed like that.

That is a good idea but as per the rules they must come forward for that and I think security will be tightened for him/her if he claims it I'd better not cash out all of it in one go there are other times he may come when the news about him/her lies low.

WOW! That's a looooot of money! :o


Yeah, it would probably not piss him off but that's almost half a billion lost if you prefer to take the lump-sum payment option. That does not seem to be the most attractive option to me. The prize is around $1 billion but will be reduced to $739.6 million should the jackpot winner opt for the lump-sum option. Deduct from it the taxes and the net would only be around $530 million.

That's still a massive amount of wealth, of course, but I think I won't be wasting the other half of a billion for that one-time payment option.

Winning the $ 1 Billion lottery is a huge amount, I'm quite jealous of it. Because I participated in the lottery several times and never tasted
a single win. The person is very lucky to earn $ 1 Billion without hard work. But indeed people's sustenance is different, I can only congratulate
to that person. Hopefully the money is used wisely, don't spend it on something that is not important.
 

I never thought it's possible to win that huge amount, and of course, they will never reveal the name that huge amount can put the winner's life in danger, and about prize distribution, I prefer initial payment then the annual payment for 29 years this is to prevent from extravagant living and to protect your money and you will see your money passed through your children to your grandchildren.

Fantastic win. I once had a $ 400 win that made me happy enough that it was all mine. how long it took to be hit with such a huge jackpot. I have checked on wikipedia for at least 3-10 Years it will happen that someone will hit such a big Jackpot. on the biggest streamer I saw he was able to win the jackpot 1 Million dollars and that was the biggest win However, the tax deductions that are obtained are also large if we look at the statements made by op.
 
 

Revealing the name or the winner's real identity is dangerous; that is why the lottery winner should be claiming it anonymously. I also prefer getting the initial payment then the annual payment for 29 years, so that it will not be too obvious for your acquaintances to know that you won the lottery and protect your money from spending too much.

Congratulations for him and Good Luck in him.

That huge amount of money isn't that easy to hide especially if you already said it to other people and for sure he said it already to some people since we have an instinct that if we won a huge money, we tend to share it to other people or some relatives at least.

Either way, still congratulations for him and he is a very lucky bettor. I don't bet on lotteries because I believe that I will not win on it and it has a low chances of winning on it. Instead of putting it on lottery, I will just save it and invest into other assets :).

Wowow, from a simple man to almost a billionaire! I would have died of happiness and heart-attack! If I was the man however, I would have chosen the first option, that is getting one initial amount and then annual payments for next 29-30 years which means I'll never be poor even if I'm gambling addict, I wouldn't be able to gamble away or lose the whole funds! However taking one time huge amount can be very very risky!

Very lucky guy, indeed, I will also opt for one big initial payment and from them on annual payment for the next 29 years, I also choose this so I will not handle my money recklessly, there is a big temptation to do this if you have a big amount of money in your hands, especially if this is the first time that you are holding that big amount of money.

I have always wondered why lotteries are allowed to do this.

It's literally misleading advertising if you think about it - you are advertised a prize pool of $1B and when you actually win anything, bam. Half of that is gone and collected by the state.

Perhaps it makes sense in countries where pre-tax prices are common, like the USA, but this is prevalent throughout every major jurisdiction I know of.

But at the end of the day, these jackpots really don't mean much. Mathematics stipulates that given sufficient time there will always be a winner - at the expense of many others who have played a notorious -EV game before them.

And we'll only know it after one guy win a huge amount like this, that is such a huge cut, it's more attractive to join a lottery if it is tax free, he did not win the $1 billion actually they should headline one guy and the government wins a lottery, imagine the huge amount of property that it can buy with that amount, congratulations to the guy and the government.

What an extreme luck since imagine how huge the amount he win and I hope the winner didn't get an heart attack since I read some stories about a winner of lottery experience it win they win such huge amount which they didn't imagine.

Also if I am the winner well I will be confused on where and how do I spend that huge amount  :D.

That is just huge.

From the texas woman winning $60 million to someone that won over half a billion dollars. That is just amazing. I hope the luck of these guys would be spread out to people as this year is the start of what other people are saying, a healing year after the worst year of my life. Hope this is a sign of this great year and what lies ahead.

Wow winning $1 Billion is insane, I would definitely go for for the one time cash payment. Paying taxes is totally fine on such a large win, getting $1 Billion or $530 million is not really a big difference for the average person. Both of these numbers are so crazy that you will never really be able to spend all that money. I bet the guy will get a lot of phone calls now from old friends and colleagues you will ask for a favour. It's going to be hard to tell who is a real friend and who is just around for the money.

Reading his winning itself making me nuts like, complete life changing moments has happened for him and suddenly he would not even know what to do with this much money he would be seeing in his bank account. It’s a dream of everyone to win some good money but only handful of people are lucky to win from such lottery.

This is the reason why people keep buying tickets at the lottery because of the big prize that awaits ahead and we understand that winners should always do not disclose their identity to the public for their own safety of course. That is a huge jackpot and will I guess your life is in danger because we know there are too many greedy people who will take advantage and get the money you have.

People keep saying if they will in the lottery they will buy anything they want, but funnily fact, they did not buy any ticket because they were afraid to lose.
Lucky for those who will win, the chances of winning are very slim and that is rare in their life to come.

The tax is very huge the money he still get is also a lot , well that is the protocol of the government about tax so they operate the gambling legal or having permt. Mega million jackpot is huge amount of money and I hope someday that I'll be the one who gonna win to the lottery even not billion Im contented to the millions because it a lot of money that can secure my future. In my country the highest winning in the history is 700 million and many people tried their luck to bet and to win of course, but only 2 get the exact number it was happened few years ago and they are now instant millionaire but I hope those people who are winning lottery will use it in good way because some of them are losing all money by buying and spending not important things.

Seriously. Every time I read stuff like this. Makes me just so envious. No words. I can't even win a lottery with prizes less than 1000x that amount, not to mention not even ever coming close.

Makes us all dream to read this isn't it? I prefer 29 years annual. So you can't spend it all even if you want it.

The tax system for lottery winnings in the United States is just ridiculous. Lottery winnings are tax free in countries such as Australia and the European Union, because the lottery ticket sales are already taxed once. If they deduct taxes from the lottery winning as well, then it will amount to double taxation. But this logic is not applicable in the United States. They will tax both the lottery ticket sales and the winning amount.

And this is how it works:

Jackpot amount: $1 billion
Lump Sum amount: $739.6 million
Cash in hand, after federal income tax: $465.98 million
Cash in hand, after state income tax: $394.834 million for New York

So the jackpot winner is going to receive less than 40% of the claimed amount in his bank account after all the deductions.

A deduction by more than 60% is a robbery not taxation, imo. If lottery tickets are subject to sales tax then the winnings should be tax free
And I used to think the 25% my country imposes on lottery winnings was unfair!.

Still, ~$400 million is a huge amount of money so congratulation to the winner, whoever he is.

It also makes me thing that more people believe in luck, don't get me wrong okay I just think that people want to earn more so more and more people might bought different combination in their tickets so that they will be having a more chances to win a game, it's kinda profitable to those owns that lottery but govt is much happier since tax will be implemented unless it would be a tax free game.

Such things only encourage and motivate me too to at times keep buying sometimes lottery tickets, but in the end the results are obvious. Just 1 of the instances you require to make it big or even some decent amount of winning is helpful but unfortunately it does not happen that easily to me or to millions of others who are trying from years and do not end up winning. It’s a luck which help you win at the end of the day. Congrats to lucky winner.

It is a robbery it's actually the government who won by getting the biggest slice of the cake, but anyway if you trust your government and you see that your government is not corrupt you will be happy to hand that huge amount, you still have big money so you can still live a good and rich life for the rest of your life, I think the government should give him an award because of the big slice.

Honestly, I didn't even know there were lotteries where one could win so much. The annual payments version sounds very reasonable, so that a person doesn't waste off everything and cannot lose everything due to some scam or something. Then again, it requires believing in the economy and that the payments won't be cancelled due to some circumstances at some point.
The taxation is heavy, but I think that's how things should be when you are very wealthy.
As for the identity remaining a secret, I'd understand if a person does not want to become popular as a guy with a bunch of money because this would clearly make him a target. But perhaps the identity is not revealed because the lottery doesn't know the identity of this person? Can it be that they don't store the names but have some cyphers instead or simply wait till one brings them the lottery ticket with the right numbers?

That is a lot of money. I can not imagine if that is happening to me ;D

That man has big luck, and he can feel safe as the man's identity is still secret, so he can enjoy the money while other people do not know who is he. With that news, I think it can attract people to try their luck by buying the lottery to win the jackpot. I hope to win some money from the lottery or even if the lottery is to get some product in the local store.

That is insane! Even though it is reduced to over half a billion, that is still a massive amount. I don't know how will the family of that individual will do with that money but I really hope they could manage it well. That is a huge amount and they could really make their lives comfortable I think until they wanted to. Best if they could start a business maybe.

Lucky indeed in gambling, winning that billion is okay but the way the taxers takes almost half of his winnings is not okay, even if his identity not revealed in the process.

Damn taxes.

They have kept double taxation and a very high rate of tax deduction because they know that no one is going to complain about it. No one is going to complain about the tax on lottery tickets, because their concentration is on winning the reward of $1 billion. It is not going to matter much, if the price of the ticket is increased from $8 to $10. And if someone wins the jackpot, he will be overjoyed that he became a multi-millionaire overnight. The winner is not going to sue the government claiming that the tax rate is too high.

for unclear reason winner is "secret"?
;D well I guess that there is enough a good reason to remains completely anonymous and not share details about identity. It's a very huge amount of money that could receive interest by criminals, I am pretty sure this is the right solution.

I could feel that this year is really a lucky year for most American betters. I have been hearing lots of good news about betters who have been winning such a big amount which is really a good thing. It's really hard to win these days but I guess they really got their luck at the beginning of the year. We shouldn't lose hope because our time to win would still come.

2021 has been lucky for most of the people around the world. Also the wins are very big. I haven't tried with any of the jackpots. In my country lottery tickets were the only choice to know our luck. The only win that I made out of lottery is a Television. In my country starting prizes will be in cash and end prizes will be television and other things.

No, those are just typical things, seeing this winners doesnt indicate that we do have some a good year as of this moment.We should always look up on how
many losers are on the other side.Lucky for those who won and  bad luck or better luck next time for those who had missed or havent chosen.

I cant imagine on how would i spend up if ever i do hit up a jackpot.So far id been betting lottery ever since until the pandemic had closed all sorts of business including
this lottery then its been a while i havent able to bet out.

Winnings like this big had already be seen in the public which is just normal for lotteries but we know the odds isnt something that you would really be interested on.

A deduction of 60% is a robbery and it is fair to keep the entire winnings, the only places i know that will allow you to keep all the winnings are places like UAE where the government allows you to keep all your winnings as there are government jackpots as well but the ticket charges are really high but if you are lucky you could keep all the amount you won.

Even when you take these lottery you are aware of the huge taxes levied upon them and hence it should not be a big surprise, usually the government allows these kind of jackpot is because they get a fair share of amount if anyone wins and i have not heard about tax free jackpots, government jackpots is great if you can keep all the winnings but who is traveling to those places just to win the jackpot :D.

With so much money, you can ensure yourself unconditional security. And I don't think that criminals have any interest in such characters - here non-cash money is completely legal, it is very difficult to steal that kind of money. By the way, if he correctly build a PR company, then this lucky guy could earn extra money on this.

Why being become concern about tax? It's not a secret in the first place.

Prior to betting, their bettors already know that there's a withholding tax for big winnings. If they are unaware of it and just want to bet, then they shouldn't complain although, in the article, the winner looks aware of the terms.

It's a once in a blue moon experience to win a jackpot so still, the winner should be happy with the final reward. $530 million is a life-changing reward.

so the tax was around 200 million dollars ? dang thats alot and who the fck would not pissed off by that ? im sure are anyone will . thats okay if tax is under a million but if its over a million thats already too much and we arent sure if the money will go at the good hands but theres no big reason behind not winning a lottery aside from being unlucky .

 usually lottery winners dont like to reveal themself because they are scared of being kidnapped much more to this guy that wins a verry huge amount.

It's not a secret since you are betting into something that government have an authorities, expect that tax to carry out.
Yes you are right, this bettor is fully aware and he seems not to care knowing that after winning that huge amount of money he needs to accept that everything will be deduct. Part of the money will go directly to the tax that the government is imposing.

The amount that this winner will be going to bank still huge, though if you are reading all those info about the deducted money
you'll still be annoyed thinking that money deserves to land inside your pocket though if everything inside  the government
is good then fine but if there are lots of corrupted officials then it's not.

I think the most taxed thing is the lottery system which is also a common and expected thing when you're betting on it. What I didn't know is that it will be as much as 60% of the winnings  :o I thought that it'll be as much as 50%. In this case, it's more like your taxing the government when you're winning the lottery  ;D
Anyway, I'll take whatever I can get when I won the lottery whether if the government takes 70% from it.

No way even if it's a huge amount, I will take the money but I will question the government and the organizations, it's going to be a big black eye for the lottery company if bettors find out that the government is taking 70% or even 60%, now people in that region knows that the government is going to rob them if they win a lottery.

That's a massive win and that's completely on another level of winning especially when converted to our local currency. I wonder what he will gonna do with that huge money. This is the first time I heard about this kind of huge price and I wonder how many people actually participated in such kind of Lottery. Well, no matter how many of them are there, still there will be a winner and that one is extremely lucky. he better use his money well and I think that kind of money will make him a target of scammers so he better be careful.

No one is going to support you. If you ask the common man out there in the street, he will respond that the government should deduct 90% of the winning as tax, and not 70%. In general, there is a lot of aversion to rich people. And that is the reason why governments always camouflage their tax increases to give an impression that they are targeting the rich (and in reality it is the middle class that is the worst hit). 

Pretty sure that the winner will waste it on luxuries, I had posted a topic (https://bitcointalk.org/index.php?topic=5286577.msg55515302#msg55515302) about this people that have wasted their wins onto something frivolous and ended up in misery. They are pretty evident in lottery winners, there have been books that tackle this issue specifically. There will be exception to these cases but there is an imbalance between them. That amount is enough for a family of 5 in my country to retire without having any problems with money onto the next generation.

I don't mind if the tax will be much 30%-50% because I still have the most money from the lottery. I think it is okay with that, as long as we can take the rest money to our bank account and don't need to pay another tax, we still win. At least, we can beat many people who bought the lottery ticket to be the winner, so we still won much money with the cheap price of the ticket.

I only hope the government and the casino will not cut the win money too much more than 50% because we can get more money.

each person has a different view of the victory tax...
but I think the same as you. if I win the lottery with this amount then I have no problem with the 50% winnings tax deduction. *governments and lottery owners will never lose

It almost seems like a payment for a lifetime! It's an unbelievable win in did and the winner has got to think carefully on what withdrawal option to go with avail to him. Being payed a certain percentage annually simply puts him in the rat race because, so would his spending be quantified, his tax and also winner might want to patronize them a lot more than usual. While,
Being given the said amount with a compromised identity would .make him a target for criminals and again, might put him directly into the life of luxury but no doubt, winner could invest too.

On the tax percentage, I won't mind! Although, we don't know what his takes where just yet or the winners status in the society as to determine winners relationship with money. It's an exciting win and I'm glad people are really getting it out of the lottery and the lottery winners are ready to pay.

I am afraid if you ask the government and the organizations, they will not give the money because we want to know the details. It is better to take the money and leave it to them because I am sure even if we only get 30% of the total of the winning money, that amount will still big to us. I think the government or the casino will be fair to the winner, and they will not take too big as the tax because they do not want to see they ruin their own reputations by cutting the winning money too much.

What to say except that luck is unpredictable.Congrats to him as I think he will be thanked even after his death by few other generations of his family because he has secured at least 5-7 generations if they are smart enough to manage this amount in a correct way.

This person though can buy a few successful businesses and run them in order to secure an even more brilliant future than the one he already has forward.

If the winnings are properly and responsively invested and spent
it would set your family's lives up and the next generation also.

Its such a pity to see such a life changing event turn into a sad result.

Its very important to employ the services of a professional who is
used to dealing with clients with a high net worth.

The last thing I would be doing is creating too much attention upon
myself but I would make sure to enjoy it and make sure my family
is well looked after and my friends too.

Yeah, for sure his family will now be safe in terms of finances, $1B is such a huge amount of money, you can use it for so many things like having a good and bug business that will go to give you another passive income. Those people who win a huge amount of money like that are so lucky and we should not be jealous of them but let us make them a good inspiration to work hard even though we are not lucky in gambling we can also be rich through hard work but if you want to gamble then take a risk.

Lottery is a game that really needs a luck in order to win but if you can hit that luck then you will surely live a comfortable life. $1 billion is a very huge amount of money and you are only earning it within one night if you can hit the correct combination.

Even if there is a tax, still the amount that he win is still pretty huge so I am sure that tax will not matter that much to the winner. What I am a little bit puzzled is why the winner will only get $739 million if he will choose one time cash payment, what happened to the rest as it was $1 billion right?

Gimme than $1 billion and I will not complain about taxes, put every deduction and I'll be happy to take the net winning without any complain. This does not happen on a daily basis, the chance of winning in a lottery is very slim, close to impossible but there are people really in this world that are lucky enough to win this huge.

The thread title is accurate, it's pretty insane.

Of course, if the government doesn't want 50%-70% of your total winning for taxes, but if it does then you will very likely feel that the government is taking away your right just because of the tax laws. Lol
It is very unfair that the government imposes a fairly high tax regime on these lucky winner due to the fact that such a crazy win will not be easy.

By the way, 1 billion dollar is an crazy amount for a gambler who relies on luck. But that person is quite lucky, I think. Of course the lottery is a game based on luck, it won't be easy to win a lot of money in this game without luck.

Those who are betting on lottery just bet and go, they don't think a lot of winning as the chance to win is just almost impossible. Therefore if they win they can't believe they won, and how much more if you win $1 billion before tax, you might imagine you are the luckiest person on earth.

It's a matter of luck and it will not happen if we will not buy a ticket or bet in lottery. It is too popular in my country that even many were poor they really intend to bet testing their luck whether they will win since many have really won. The jackpot will really help them alot but only those who know how to manage their winnings and finances can make it worthwhile. Others turns out to be a few days lottery winner since they spend it without thinking.

Getting huge amount of money could make or break a person. If you search online you could find many people that won big lotteries that ended up busting everything in a short period of time. I assume that a percentage of the winnings will reduce as taxation and it depends upon different states and the rest if he is smart enough then will secure his future generations as well.

Yes, the amount of taxes looks monstrous, but in fact it is only 20%. In some countries, taxes on winnings are much higher (for example, in my country it is 35%), but these taxes have a very logical justification - the winnings are the same income as any other income. Plus, the high tax rate allows the system to protect itself from the legalization of dirty money through bookmaker casinos, etc.

Some would able to secure but most of them would really be spending up unwisely but though this is their own money and they have all the full rights on what they would
do with it but we cant really just accept that they are off wasting too much into unnecessary things which this money should really be used on securing out their future rather than
on wasting it up again on gambling  or casinos or into those wants which arent really needed off.If you want to maintain up your lavish life then better to
think on sustainable way that would really be making you profits like building up in real life investment or business and other sorts of things.
Be wise or else you would really be coming back on where you had been before.

That is a huge win, however I think it is understandable that he has not come forward, after all that is a lot of money and he could become the victim of criminals and scammers so he is probably worried about it, where I live you can send your legal representative to get the prize money for you, the lottery will know your name and who you are but your identity will be protected from public scrutiny, so I do not know if the winner can do this to avoid all the attention of the media.

I wouldn't send someone to represent that amount for me. I'll take the amount and get to visit personally since it's huge money that's you're about to claim. Although it's possible to have a representative we're talking about huge money in here and you don't trust anyone with that amount.

Is the annuity option without taxes and thats partly why its attractive.   For most people I'd recommend that as more sensible as it stops any chance of ever running out in theory though that sounds silly with such a large amount.   Otherwise the lump sum always seems best on a million or many millions because you dont want to get paid dollars in 2040 and after hyper inflation so its not worth anything as much or is this in the small detail that annual amount will adjust for inflation.   If that were the case I'd say go the regular payment because when you 70 or 80 you dont want to worry about managing money etc.      Anyhow thats always my virtual dilemma for my virtual win scenario :D

I dont want anyone to know my face tbh, who would want all those requests and trouble and instantly people come asking as if you were in debt to them.   Is it worth losing your freedom to roam the streets in peace.   I'm sure I read about someone coming forward to claim but with face completely covered and this was allowed.   I would most definitely distribute money to charity and in the community but by my own choice in my own time and I'd always opt to donate via 3rd party or lawyer not in my own name, who needs that hassle really.

I don't know if that is granted if there is a representative to claim the prize, as I know you are personally going there as a winner of the prize.
That's a problem because once there are greedy people who know your identity that you have won a huge amount, it is easy for them to find ways how to get your money, blackmailing or even kidnapping someone of your loved ones in exchange for money.

If you see, most are prefer to become anonymous if they will win in the lottery, hiding your identity is something safe in my opinion, than publicly shouting that you have won on lottery.

Have a story of one lottery winner that overspends his money on gambling and after a few months, his money is all gone.
I hope this man will think about what to do with his money to secure the future of his family, not just in buying luxury items or being addicted more to gambling where it is mostly a reason that it all be gone in our hand.
I'm wishing that too but that seems impossible to happen because I was not consistently joining lottery games ;D.

First of all, this year lottery luck seems to be in favor of the woman and I am happy about that but this winning should not be contemplated as insane because the lottery winner which name seems to be withheld was the third person to win $1Billion through the lottery and she's not even the record holder of the highest lottery winner for $1.586 billion and $1.537 billion was won by some people on January 13, 2016 and October 23, 2018 respectively.

I congratulate her and I hope she remembers to pay tax which I think will be 24% -37% of the $1Billion to avoid future issues with the authority.

i guess the best option to take here is get the winnings annually for the next 29 years. with this option, you very well know that you will have  enough money every year for the next 29 years of your life, even if you gamble some money. because the danger of getting the lump sum is to spend the money as hard as you can, remember you will have a lot of relatives and friends with this money. so no matter how huge money you have, spending will be easy. this kind of luck is once in a million, so hopefully that winner knows how to spend it wisely so as not to suffer any financial prob for the rest of his life

I am very curious about the profile of people who managed to get $ 1 Billion from the lottery, he must have been very surprised to find out
about winning that kind of money. But if the person comes from a lower economic class, afraid to lose control to use the money wisely. Because
according to some cases that occur with lottery winners who come from the lower economic class, will spend most of it on luxury items that may
have no use for the person. I really wish everyone who won the lottery very big, use a financial advisory service to arrange the use of the money.
So that it can be used wisely.

Your argument will be invalid because like I mentioned few pages back, there's a term about the tax already. It's not the government's fault anymore if you are unaware of the withholding tax for big winnings. I understand that people might not be aware of it because hitting the jackpot is 000000000.1% chance so they won't bother reading the terms and just bet. The only time you can complain is if they won't follow what should be on the terms about the tax.

Why should they violate their own terms about the tax? It will just create a negative review about the lottery site.

That's a very very big prize he should get one of course,  if i will be the one who will win some in the future i will put that in investment of course then I will spend a minimum amount or small amount to play just for fun, so that I will enjoy some of it. but then, I will not gamble again i think that could be a greediness it should be properly manage so that we will not lose more than we gain. There are few people who win jackpot prize and they are very lucky and  fortunate they should be blessed and be careful to it.

You don't have to keep playing big if you win the jackpot. If it gives a person a certain pleasure, then you can limit yourself to reasonable amounts. History knows cases when people have won significant sums more than once. But you still need to approach this issue wisely and in general, you should never specifically try to earn a lot by participating in gambling, because usually this will not lead to anything good in the end and all participants can not be winners in principle.

That is what some of the people on my list did too, they prioritized family and friends to the point that they were run dry because the whole family tree wanted to get a piece of the pie even though they did not know the winner directly or have met them once. It is the best way to do in my opinion, hiding your identity to prevent instantaneous celebrity status which many aren't ready for especially those that won the lottery, they will be flocked by vultures that you call friends. Sadly, most of the winners are not financially responsible, and do not pity them, they did it unto themselves knowing the consequences.

We will have many dreams that we want to make it with the big winning from the jackpot. But we need to realize that we will not know how big our luck to win the lottery since the lottery game will be based on luck. We hope this year will bring us a big profit in gambling, but we also need to know that our chance will not be bigger because we need to depend on the luck itself. If we can win the jackpot from any gambling games, we should take a break, enjoy the victory, and not come back to the gambling games for some period. Well, I hope we will get the lucky this year so that we can make huge money in many ways.

What a big prize. I don't know what to do after winning so much money. It would be strange to see such amount on your bankaccount.  :o

But I don't understand why they have such prices. Just divide this jackpot into 1.000 prices of $1M. That's still a great price and you make much more people happy.

Is this for real ? 1 Billion Dollars ? I really can't believe my Eye seeing this proof . and i did not know that In US there are gambling that allows you to Win a Billion dollar in single event even if this is lottery.
No wonder How risky this Person now because for sure tons of bad people are into run taking His money.

Yes if I was the winner I didn't want to be known but mostly the winners are announcements in all the media. Everyone wants to be their friend suddenly.

You read a lot about winners who lost their money within a few years due such persons. Let's hope this winner keeps a clear head.

It is not easy to hide a big win from the jackpot results because many people follow and the winner will be announced or will be found even though it is kept secret, and will be disseminated in the media or whatever and that is very risky.
But with $ 1 billion you can pay any kind of security or bodyguard to protect yourself and your money, but still feel uncomfortable because everyone knows, especially the criminals who will make you feel uncomfortable.

Getting $1B gives way too much risks. For criminals those winners are the perfect victims. They haven't any expecierence with big amounts of money. Only hiring security wouldnt be enough.
They should also hire someone who helps them financially. I don't know how that works with that lottery. Here in Holland lottory winners get financial help from the lottory itself. If they don't get that with this lottery, it's also risky to get a trustfull financial advisor.

It's right but it's more attractive and alluring offering that huge amount.

For sure the desire of those bettors are very high, bringing more people to buy the ticket and take part ot this big event, we are all have that instinct hoping to win huge amount of money. Once in a lifetime opportunity if ever you are the lucky person who win that such amount, imagine the changes in life that will bring you.

I can see how shortsighted those people on your list were for not
restricting their giveaway to immediate family and close friends.

If the winner has no experience or concept of managing finance I
can see how they would think the funds would never run out.

Aunts, Uncles and Cousins you see once a year get to attend 1
celebrationary party at best.

That is how the lotteries work. They will always overhype the winners and as a result new users will purchase lottery tickets hoping that one day they will also become lucky. But the sad fact is that no one talks about the losers, who fails to win anything despite taking tickets continuously for many years. And no one goes back to the lottery winners after 3-4 years, when a large part of them would have gone broke.

As long as the casino is not announcing who the winner is, the winner will be safe, and they can take the win money to their bank.
I am sure the casino will take care of that because they do not want their winner will become a target of the criminals.
Yes, I agree that hiring security will be important to protect the winner from getting their win money.
But that is a big winning for that person who not many of them can win the lottery game.
We can hope that someday we can win the lottery like them.

With that much winnings, hiring a security firm would be a must!
I would only take the winnings to the Bank in order to buy Bitcoin.

Do the lottery company provide any sort of financial advice for their
winners? It seems strange that they would let you walk out the door
with a suitcase of money without first making sure the winner has
a basic knowledge or insight into future planning.

I envy lucky people in gambling. I guess if it's meant for you you will win it no matter how often you have bet on lotteries. This huge amount of money can sustain your lifetime expenses if used wisely, you can also use this huge amount to start a business. I just hope the winner can secure his funds properly. It would be best if they will keep the winner anonymous for security purposes.

I do not think that disclosing the identity of the winner is not a good thing, security and safety reasons above all. I believe that casino have a policy not to disclose the winner to the public, don’t they? And yes, hiring security personnel is crucial for the safety of the winner and amount being talked about. I just hope that whoever the winner is, will spend and invest wisely especially during this uncertain times no one knows if a thing will lasts. And of course, to give back and help others as well. A blessing is more meaningful if shared with other people.

Heard of it. Insane money to be honest. Like you have to be extremely lucky to hit the numbers!
I have heard the odds are something like 1 in 500 million. So keep trying, maybe one day  ::). Oh and we all know why that man's identity is still a  secret. He just doesn't want "unwanted" attention ;).
https://cdn.dopl3r.com//media/memes_files/me-wins-the-lottery-the-rest-of-the-family-saying-we-won-myex-hitting-me-with-the-imissyou-text-my-dad-coming-back-with-milk-after-6-years-lMkJr.jpg

He should be taking home around 600k USD after taxes. That is still a shit load of money.

attracting attention is always no good "LOL"

https://i.imgur.com/TTxuH4m.jpg

It would be compulsory for the agency facilitating these lotteries to conceal the winner's names and identity whether they like it or not, this is to further protect their privacy and fend off potential criminals from doing harm against them. Sure, their neighbors may know about it, but it's better than having 50 states know that you won a billion dollar jackpot eh? If it's any consolation, their odds at winning is the same as ours, they just got way too early at winning than us. So you either succumb yourself to your envy, or work our way up the top of the ladder so we don't have to rely too much on luck to have a productive life.

This image says everything.
The biggest threat to jackpot owners aren't the unknown ones on the street, but the closest people or potential closest people: friends, relatives and especially affairs... I remember once a common man won the jackpot on the lottery in my country and soon as he was noticed the winner a young girl approached him and after few months they were marrying. Not too much time later he was murdered.
Police investigations discovered his wife was behind his murder, as she was the person to take his heritage in this case. When you see a story like this you realize there aren't bodyguards who can't save you from this kind of threat. So privacy is important, but more important than that is to know who really is by your side.

So true everyone knows and loves you when you have the money but only few would stay when things go wrong so you should choose carefully who you would be trusting and who you would be helping in the future.
When I was having the time of my life I forgot those who help me when I was nothing and now that I am back on being nothing I really feel shameful for it although I did invite them to hang out when I have the money but I feel like I could have done more and make them feel like they are part of my success because they supported me and didn't leave me when I was just starting.

P.S I didn't win in lottery or hit any jackpot I just earn money from crypto.

In some of the lotteries, there is no option for the jackpot winner to remain anonymous. As per the terms and conditions, the details of the winner will be made public. And these lotteries need this, as an advertisement. Only a minority of the games give you an option to remain anonymous. Therefore you may need to deal with the inundation of "born-again" relatives and friends for the initial few months. The question is how to deal with them. You are under no obligation to share even a penny with any of them. Be strict with this, because if you become soft then your winnings may vanish in a few years time. If you feel that there is someone who genuinely needs your help, then there is no problem in spending 1% or 2% of your winnings for that purpose. But for the rest, you need to be very strict.

Maybe it's a case to case basis but as I've said the representative can do such crazy thing with that amount and lose the trust you've put into.
I understand the point of sending representative but if with this money at stake, it's no use to ask someone claim it for you.

So he is Lucky because that huge win did not bring Him Death not like who's written on this thread

https://bitcointalk.org/index.php?topic=5311956.0

All of them Died after winning and having Heart attack because of overjoy feeling.

Sometimes Good things did not come to those who wait  ;D

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

But really this is a Huge Win and cannot be denied of the Most luckiest man in gambling ever , 1 billion Dollar .

If you go to the Bank to buy bitcoin with that large money, it can make the Bank suspicious because they will ask you where you got that money.
If they know that you win the jackpot, maybe they can ask you to pay your account's tax. But just hope that will not happen to you.
I guess the lottery company will not advise on what the winner should do, but they can suggest hiring security firms to guard you to go home or the Bank.
We can wish that the winner will not get a heart attack when he sees huge money in the case or on the table.

This is a real life situation on where you do incase on hitting the jackpot then thats the only time that your relatives or fake friends will really be just approaching to you for that very common reason
which is to ask some part of your winnings.I do actually laugh into those meme's above which are actually telling the truth when situations like this do happen on someones life.
Hitting up a jackpot is a life changing situation and imagine on how big the amount is then that will surely attract of those people who are connected to you or even
to those already far-off. This is why you should really be clever because spending those winnings extravagantly will really just result into something non pleasant later on.

This is more than a life-changing jackpot. This is going to be a treasure that would definitely support the winner for the rest of his or her life. In fact, this is more than what the winner probably needs until the last day. This is going change not just the life of the winner but definitely the lives of his or her family, relatives, and loved ones as well.

Is it going to be better for huge jackpot lotteries such as this billion-dollar mega jackpot to be divided into 2 or 4 so that there will be more happy winners?

He almost got one for sure but since he's still alive, he is meant to become a BILLIONAIRE.
I can't still find my luck on lottery event if I bet thrice or more a week, but because of pandemic I have to pause for a while and spend my money on my foods rather. Anyway, I hope that guy knows how to handle Money so he won't be for again, ever.

That's a real mega jackpot and I can't imagine myself on that situation, I guess he's the lucky guy this year and I wish him the best and enjoy spending that money. Big jackpots attracts many bettors, and I hope that this is not a joke just to say someone won but in reality, that was just part of the game. Looks like 2021 is the real life changing, more good news to come hopefully.

That is mostly the reason why they bet in these lotteries.

They are aiming to be able to win that huge amount despite the fact that the chances or the possibility of them winning that millions or even billions of the price are so low it is close to zero. I just hope that these multiple wins in the lottery mean that this year will be a prosperous and a lucky one compared to the recent year.

Very lucky person, with that money you could spend it all how you want but still if they don't handle it well it can go fast easily but with that amount I really don't think you can spend it fast but maybe you could invest it into something else maybe real estate?

I think it's not an unclear reason to stay the winner's identity secret,  its good for the winner to keep secret his/her identity for the safety. It's about 1 billion dollars, just imagine...and of course, the winner is very lucky , because its very rare to win that amount of jackpot, even 0.1 % of this money

If the casino or the winner announces their winning, it could attract criminals and make them become a victim of the crime.
So it is better to keep their identity secret without any people know so that the winner can get the money safely.
But the winner must have a bodyguard to guard them to go home, so they will not have a problem with the criminals.
I think the winner can choose a one-time cash payment, and even if they only get $530 million after-tax, that still a lot of money.

or he can also change the life of someone else , someone that is poor and needs money . if im one of the winners i will not hesitate helping people in need and i will also provide jobs to unemployed people because i was currently on this state of living .

yes its possible and already been aproved . the prize will be divided equally to the winners if they are also winner that has the same number as the other . fewer people are going to be happy instead of one but if more people win ? i dont think its still going to be happy

He should be very careful and learn wise spending of the $1B mega million jackpot because even a billion jackpot if not handled carefully and spending it wisely will be easily lost. I have known some of the lucky winners of lottery here in our country which won a hundred million but due to mishandling of their money and wealth they ended up broke and lost it all at once. That is why it is advisable that when win a huge amount of money its a must to have a financial advisor so that you may have your idea where would you put your money in case.

I think if I will be winning that huge amount I will be bringing some of the people I really trust like my mother or my father. I will not be taking that huge amount without anyone with me. I don't know if they will be giving that prize in cash but all I know is that it will be given in cheque and other processes would also occur which I think I needed a hand from my family.

If I will be putting myself in the winner’s shoes as well, I would not come forward just like that to claim the huge amount that I have won. I would also bring family members I trust, maybe a lawyer and any security personnel, preferably to disguise as civillian, who can provide me assistance and safety as well. The world is a scary place and desperate people can do anything to harm others just to get what they want or need.

Whoah, if that is true then annual payment for 29 years is a long time, there is no guarantee that the winnings can be paid in full in case of death. I mean surely there must be some clause somewhere that would guarantee dependents will continue receiving the payments. But I think the other guarantee which is half be paid in full is still a good win if we are talking about 500 million dollars. I can simply think that I gave half back to the lottery house to be prized to another fella. Still, I am 500 dollars richer and I spent only a little to buy the ticket.

I agree with DeathAngel, this is a crazy big amount to win! This is possible only with lottery! I wonder what is the minimum bet per ticket on mega-million jackpot? Anyone knows?
Sadlife gambling can ruin you, but if you have control, you know your limits you will gamble for life, and you will have a lot of fun gambling, and you will never have any problems cause of that! I think anyone who works can afford a few lottery tickets! Some nice gambling nights... you just need to keep it in limits, and to never forget the most important rule, never gamble with more than you can afford to lose!

You can play out megamillions lotto in You can play Mega Millions in 47 localities; 45 states plus the District of Columbia and the U.S. Virgin Islands. Source (https://www.megamillions.com/where-to-play)
Ticket prices cost $2.00 as per my research where you can pick up six numbers.If you dont live out on those places to play locally then there are online merchants or mediums
which you can purchase those tickets online.I dont know if that one is suggested or works out.

Damn, I wonder how it feels winning such a huge amount. The largest I won from a lottery was $1000, and I was ecstatic back then and it never happened again. The person who won that jackpot must have been shaking after seeing that they won, considering the fact that we're not talking about a million here, but rather HUNDREDS of millions in the bank. You're all set for life, maybe even four or five generations down the line if that wealth is well taken care of. Of course, a financial adviser is a must almost immediately after claiming that win. I've seen jackpot winners spent most of their money on dead-end investments and things that will not safeguard their wealth in the long run, and ending up losing it all.

Just invest it carefully  and you will not have to worry about your daily expenses, you can have it from the earnings of your investment , just make sure that every thing you put your money in is legitimate or you can make your own large business using that money. The only problem if that person has an addiction for gambling it could easily be recovered from him if his not wise to handle it carefully.

That is so true! As they usually say it, money is the root of evil, and even though there are a lot of people that look at you as someone else, if they knew you will be winning that huge amount, they will be flailing all over you. I just hope that the winner took his winning safely. With this information, there might be a lot of people planning something bad about the winner.

The immediate relatives will be your first people to trust in. But having someone outside that family circle that will serve as your representative, that's the risk.
That is the reason why I wouldn't be allowing a representative to take my money, I'll just bring some people to escort me and tell them that I'll be getting something which they don't have an idea. Well, those people will be the most trusted in my own basis.

Sometimes people luck is full of surprises, winning this $ 1B lottery is crazy in my opinion. For me this is a very large number, really lucky
the person who won the lottery. I am very sure that the person will be surprised and confused about how much money to use. My advice is
if we win large amounts of money, we should consult a financial advisory service. This will really help so as not to use the money wrongly.

Luck is one of the main factor on hitting this almost impossible chance to hit up lottery.Imagine on getting or hitting 1 billion dollars? You would really be having a extravagant life that you've been wishing for on your entire life.This is why  lots of people whom do keep on betting or buying out tickets due to this very reason for them to get rich instantly and able to buy up things that they do want which you can possibly done once you
hit the jackpot which is an enourmous amount and i do really laugh into those situation that loved ones and relatives will really be going after you asking for some bonus or money since you won big time.
So this is one of the primary problem you would need to face off, if its really just possible to make your win or hit in private then no one would ever know.

If we can hit 1 billion dollars, we can get anything we want and have a better life. But as we know that gambling will always need luck, we can't expect when we can get lucky, but many people still trying to play more rounds because they want to test their luck. The lottery can tempt people to buy the tickets because of the cheap tickets, and they don't think that will be a problem for them. But the fact, if we can calculate how much money we use to buy the tickets, perhaps, we can amaze and shock to see that we use big money to just buying the tickets.

I am someone who play lottery games very occasionally (once in 3-4 months). Here the attraction is that you can become a billionaire, by spending just $5 or $10 for a lottery ticket. Obviously, the chances may be very low, such as one in 20 million or so. But people always think that they can be that one winner among the millions. This strategy is good as long as you are playing occasionally. But if you are spending half of your savings on lottery purchases, then I am afraid that it is going to end up very badly for you.

Well, to be honest, I am kind of observant when it comes to my relatives especially to those people that would risk these kinds of things. Although I don't think we will be having a problem with this thing since in the first place, I am not betting on these lotteries so there is no way that I will be getting the win in these lotteries.

It's not really bad to put some bucks on purchasing a lottery ticket and expect to win. We all know that hitting a jackpot has a low chance but putting small bucks occasionally shouldn't be hurt in the exchange for hoping for a jackpot. Who else doesn't want to be a millionaire or billionaire someday.

I'm also spending money on few tickets, around 2-3 tickets, I think once or twice a month. The amount per ticket here is $0.5 cents so not that bad and can't consider a lottery addiction.

There are people who buy lottery tickets with all their salary even forget to take the money for food and survival, which shows that lottery can make some get severely addicted over time so people would be cautious. Most of the people never had any chance to win such kind of rewards throughout their life time so if we are lucky it will come to us and no need to work hard for it.

---

The tax cut was huge, to be honest but it's better to take all the money at once rather than waiting for 29 years because it is possible to convert 500+ million into 1 Billion in few years when we become an investor.

No one knows when luck will comes up and bring you the jackpot, occasionally and if you are using spare money it's okay
to dream of winning this jackpot, it will surely change everything once luck permits you to win the pot.


Adding some more tickets as long as it's  still inside your bidget also increase the chance of winning, though it's not that much increase in terms of  percentages as there are so many people like you who wanted to take their chance in hope of winning the combo numbers that needed to claimed the jackpot.

Im also doing such thing too where i do purchase up tickets not on that active manner though nor doesnt really spend up that much money for it to compromise my needs.
I dont see this as a mistake and yes you are right that we do all hope and wish to be come rich by means of hitting a lottery and this had been the most common way
on someone to attain financial life status changes.No one can stop you on doing that though because its your own money and no matter on how you gonna spend
it then its none of their business.

This is not bad in the sense that for little money we get hope for an event that will change our lives. Basically, we buy a good mood and a feeling of adventure very cheaply. Such spending pays for itself, plus if someday we really win it will be a big event that will change our lives.

I am talking about a legal representative, the money will still be in your name and it will go into your account but you will not have to be in front of the media sustaining a huge check as it is so common when someone wins an amount of money that is so massive, personally I think it is a good idea after all if this was a small amount of money then you do not need to go through this trouble but we are talking about one billion, that is not an amount that is won every day.

We don't have to worry if we will spend too much money that will affect our funds with that strategy. That is about how we can manage our funds, and if we can allocate the funds in the right pos, I think we can use the money without using the other money for another thing. I also purchase tickets for just $10 once monthly or 3 months, and I can use only that amount of money to playing the lottery. But I don't have a big hope to be the next winner because as you said, the chance will be one in 20 million or so. I will not suggest using half of our savings to buy lottery tickets because there is no guarantee for us to win the jackpot.

Playing lottery is something you should do casually since the chance is really slim, it is not a game where skill can be applied, luck will be your best buddy here. You can bet maybe at least once a day or bet occasionally. Betting almost a huge portion of your savings just to get a chance to win the jackpot I guess is not practical. There are over thousands pr even millions of number combinations in lotteries and spending to much on it might not be practical if you have been betting for yours and winning the jackpot. The amount of money you might spend might be tremendous or you might not win a jackpot at all.

That is the right strategy. Because only a fraction of the proceedings from the ticket sales go to the winners. And even from that winning, a sizable part is taken by the tax authorities. So I would say that there is nothing wrong in trying your luck once in a while. But for the average user, he will be spending a lot more on the lottery tickets than any potential return in the form of jackpot.

I prefer to bet occasionally than once a day because that can make us come back to the places just to place a bet, which can cause us to spend money every day to buy the ticket. If you can prevent yourself by not placing the bet every day, you will think about what number you should place on the next bet. Perhaps, that can make you like, "Ah, I only buy less than 10 tickets, so I don't have to spend more money every day to purchase the tickets.

When we only spend our savings to buy the lottery tickets and rely on the ticket to win, we will not have a chance to survive on this life. We need to buy our daily needs, and if we use all of the money just because we see the jackpot money is too big to get, we will not have a big chance to win because lottery games will depend on luck.

With the huge government cut, they have two winners here the government and the bettor, so congratulation to the both of them I prefer getting my winnings in a yearly basis, so my children and grand children will benefit from my winnings there's always this temptation to buy luxurious items and live a grand life by getting my earnings annually I can protect it.

It's obvious that rhey are doing this concealing of winner's identity in order to ensure that the person is not gonna be bothered by criminals, and the general publci and media on how and what will he do once he claims his price, personally, I'd choose to have all my neighbors be aware that I won a billion dollars than have 51 states be aware of it all of a sudden. And if it's any consolation OP, everyone had the same odds at winning a lottery, lady luck just happened to smile upon him that day

Yes the lady somehow is very fortunate to become the only Wimmer in the lottery as what we can see the probability to win the game is less than 1%, the more people who will participate in that game the lesser their chances could be, so she is very lucky, and the thing about the identity I don't think that he is actually a lady who knows maybe the just tell them that gender so when people try to find the lucky winner they will find a woman instead of a man, but this is just my assumption.

When it comes to security once you do hit the jackpot then it is really their responsibility for it to make private or choose on not to reveal out the identity for your own safety.

Just like on our national lottery on where they do hid out your identity and instead on getting some cash, those winnings of yours will be directed into your own bank account.
Instead on bringing it by yourself physically.

Its no point if they do say a woman or a man.As long they don't know your name is then that would really be much better.

You totally correct cause the lottery has nothing to do with skill, those previous winners won out of luck and the chance of winning in a lottery is also 1% but the lottery seems different from our normal online or physical gambling in terms of rules/regulations and price. A lottery can be played with $5 it depends on the player's financials.


The winner of the jackpot is a woman, if you read the link provided by the OP you'll see her showing her ticket on the camera but she chooses not to mention her name to the public.

Government also won millions of dollar without doing anything they are already taxing bettors with every bet and now they are taking a big slice with the winnings, it may not piss him off because it's hard to count that huge amount of money and what you can buy with that money, his concentration is on his winning but of course he will still think that big cut.

Well, it will depend on the winner if he wants disclosure to the public. In my country, there are 3 people who win the mega millions jackpot, they split the prize, the two are publicly revealing their selves and the other one choose not to disclose that he won that big amount. It is totally risky once you are a winner of the lotto, your life perhaps in danger because some are wanted to get your reward. We could not deny that there are too many greedy people that willing to make criminal activity just to have money.

I agree. Revealing yourself or making it public when you won a lot of money might encourage others to take advantage of you or worst is to put you in danger. Mega Million jackpot kind of prize isn't just a normal price that somehow will make your life so simple and rich. Greedy people as say will get into you and willong to do some unpredictable actions just to get what they want that you have. In mt country, lottery is one of the most easiest way and legal gambling that you can play. I've seen a lot of people won a jackpot and not made their self public because they know and aware of the risk they may get if they did it. Make sure to stay safe in this kind of positive situations that you may experience in the future.

Yes, I understand that having a legal representative that shall be sent under your name. But with such amount of money, you'll never know what it can get inside their minds.
When greed comes in to anyone and they have your authorization, you don't know what they can do just for the sake of money.

Both the payout methods (annual instalments and lumpsum) have their own advantages. But with the annual instalment method, tax cut will be considerably smaller, as the payout is spread out over 30 years. On the other hand, a lot of people waste that money, when they receive all of it in one go. Also, there will be pesky relatives and friends, who will beg in front of you for their cut.

I mean, why would they need authorization?

We are talking about a huge amount of money and the winner doesn't need to hide his/her identity because they are anonymous to start with. All they have is the winning ticket and unless he/she posted that on his social media account or shouted in their whole neighborhood that he/she won that huge amount, they will never know that he/she won.

It's for the public sake but it's not me that you should be asking but the other guy that tells about getting a representative to take your winnings.
Because I believe that you shouldn't allow any representative or decide like that to take your huge amount of winning.

I don't know about your country but our country is different.

You could get your winnings as long as you present the winning ticket. The winner is not actually announced but as far as I know they tell them the region or the town they belong to but not the actual address of the winner. I mean, they can still do that representative thing as long as they have the winning ticket, right?

It is probably going to be very hard to hide your new wealth from family and friends for a longer period of time. Such huge sums of money are completely life changing and it's just not possible to hide. The problem is that this kind of money is also changing your family and friends. You might think you have a really good friend but I could turn out that he is only after your money. You will never really know if people are with you for your money or because they genuinely like you.

Everything you say is true, the reality is that it is difficult for people who earn large amounts of money to hide from their surroundings. Because
usually lottery winners who have large amounts of money change their lifestyle, they may suddenly purchase a luxury item. That will inevitably
invoke other people's questions, and in the end the person will be provoked into telling the truth that they've won the lottery. Or even because
he was happy to win the lottery, that person immediately told everyone around him. Once the neighborhood knows that the person won the lottery
with a very large amount of money, surely many people pretending to be nice approached him with the intention of borrowing money. Things like
that often happen to lottery winners.

The 60% taxation looks like a day robbing in my opinion becasue such amount is huge, if during ticketing tax was paid i wonder why should the winners be border to pay tax from his/her winning, though the government always love double taxation.

And for sure whoever wins this huge amount of money, hiding it is the last thing that may think of,
most of the time after winning you'll going to think of something that you can buy.

Or something that you wanted to go, and the people around you will surely noticed that, they will see that you are changing things in terms of financial status.

There's no need to hide anything aside from thinking the securities of your family,
it's not hard for someone to notice your richness.

It's more than 60%. The tickets are already taxed while they are being sold. So in the end the cumulative tax burden is much more than 60%. But for most of the participants, they don't bother. The chance of becoming a millionaire is too attractive for them, and they won't mind paying an additional $2 for the lottery tickets.

But if you use your brain wisely, then there are a few things that you can do. Nowadays, it is possible to purchase lottery tickets online, without traveling to the respective countries. So users in the US can purchase UAE or EU lottery tickets (prizes are not taxed in the EU/UAE). When you have a choice, why go for an option which is 3x costlier? But I understand that US citizens are expected to pay income tax on their global income. So in that case you need to consult a CA to find the loopholes.

Fudge that.... I will take the one-time cash payment of about $739 million and cut my link to the Lottery company. We do not know what will happen in the future and if the company would go bankrupt and then you do not get anything else for the 29 years that they signed a contract with you.  ::)

The interest on that $739 million over 29 years will more than make up for the $200+ million dollar that you would have to forfeit for that once off payment. That is a crazy amount of money for one person to win... I think it will be much better if there are 1000 people winning $1 000 000 each.  :P

For the sake of mouth dropping price they will indicate and do it even its for only one person but it seems to be much wiser and more chances to get more customers or players when there are plenty of winners that can be chosen since the price is too high, many will attempt to join and try it even they think they are not type of a lucky person. The jackpot is too high, the winner is one real lucky guy if ever chosen.

I agree with that it seems a good choice to cash out your money annually so that you will not run out of money and you will not spend it all at once just like some other lottery winners, there were actually some lottery winners here in our country where they lost everything after a few years and turns out they spend it all in a lot of things. And we don't know what could happened after a few years of cashing out your money we don't know but he could experience some problem with that. He could also put some in the bank and put some in other investment easily making profit, we know how easy it is to have your own bank like bitcoin/cryptocurrency or even use a real bank where your money is safe and guaranteed.

Yes I rather cash out all those money in an instant, I have a doubt that someone who wins the jackpot chooses to leave their money in the company, so I think even they will put some tax or some deduction as long as it will not give me less than 50% I will accept that. I will diversify it and make it grow in different investments, I want to make my money double or have some interest in my own way so that there will be no doubts or I will not feel any regrets in the future.

If they will permit you to do a one-time withdrawal taking out all your money from them.
And having this money in our hand without any investment plan to put up, it surely be gone shortly unnoticed. If I have this amount of money, the same thing I do, I look into a potential passive investment that even l die, my family is safe enough for their future and they can live without stress where to find the money.
It is something we need not rush on our decision and before doing the celebration, we have to set first where the money it goes.

Everyone is talking about taxation here.. and I have a doubt regarding this.

Suppose an individual has won the $10 million jackpot in the United States. After the taxes, he will receive $4,218,274 in his account (assumed that the winner is residing in a state where there are no state taxes on jackpot).

Now consider another case, where the winner claims that he took the ticket on behalf of a group of 10 individuals and the reward needs to be split. After the taxes, everyone will receive $451,909 in their accounts for a total of $4,519,090, which is around 7% higher compared to the first case.

My question is whether this strategy is legal or not? Can the winner reduce the tax burden by using this method?

That’s a very life changing win even if the pot is taxed winner can still take home hundeds million of dollars. I think it will be a better choice to cash out his prize by phase, lottery winners could lose it quickly sometimes if they don’t handle carefully such big amount of cash. Maybe he should hire a financial advisor unless the winner is discipline enough to handle his winnings.

You wont really be needing some adviser if you do really know on how to handle up finances well but i do understand that we would really be that mind-blown state where you decisioning skills
would really be affected since you didnt really expect that you would really get rich on an instant.

First you would really be thinking off on buying all the things that you had wished for on your entire life which means that will really be on your top priority which i can say that it isnt
bad because we do have our own wishes in life and buying them once you hit lottery isnt really a bad thing to be done.

Just be sure that you do really consider on allocating money for having a business that would really be generating profits for you later on.Dont spend it all unwisely
because regrets do always come in the end.

Yeah right. But that's does what I mean and it's just all about having a representative and taking your money away. About the bad intentions that suddenly could change the mind of the people that you have trusted once his hand is on the money.
You'll never know what's in their mind upon touching huge money.

That's the reason why originally the lumpsum option was not there for the lottery winners. The prizes would be paid out in 30 installments, increasing gradually with time. The lumpsum option was introduced only in 1997 (if I am not wrong) in the United States. Before that if someone had the fortune of winning the jackpot, he had to wait for three decades to get his hands on the entire amount.

I don't know exactly how the laws work in the United States. But in general it seems to me that this option would not work. One person buys the ticket, and he is the winner. And after paying all the taxes, he divides the money among the other participants.
Although it seems to me that if you have proof that you have negotiated in advance the purchase of this lottery, you can try through the court somehow reduce the tax.  But I wonder how much money your lawyers will ask for it

The winner can ask to cash out in one-time because they don't need to wait for some time to get all of the money, although they need to pay big taxes if they choose that. But still, that is big money to them as they will hard to make those big money from their works. So they don't mind getting the rest of the money after tax because they can get that money, and they can use it for their lives. Aside from hiring a financial advisor, they need to hire security to guard them bring the money to their bank or home. It will be better to prevent the criminals from hijacking them in the middle of their homes or banks.

I would certainly prefer the slow 30 installments option. I mean you still get millions of dollars every year. Problem with that for me is the uncertainty of events that will happen to me in the next 30 years. If I won the lottery by age 50, then it means that I will be able to get all the money by age 80. And we don't know by then if I will be alive or dead at that time. Then only option for me then is to hire a young attorney who will manage the money and give the right to claim the rest of the money to a person of my choosing. Unfortunately I am not familiar with the law side of that so I am not sure if that is feasible.

A  good and considerable term for you to get if you are really that too confident for them to handle out your money but for me i cant really just trust nor being confident and i would rather
get all of those amounts and would keep up for myself neither on my own bank account.For those inheritance issues then its your responsibility to ensure that they would really be having
the full rights in case that you do pass away. This isnt an amount that you cant just easily neglect thats why be wise on how to allocate and make use of those.

It will reduce your tax burden. Also if inexperienced people get huge amounts of money all of a sudden, then they are likely to invest them in scams and Ponzi schemes, which will eventually result in them losing all of that. BTW, you don't need to worry about what will happen in case you dies before the last installment. The lottery rules makes it mandatory to provide nominee details in the unlikely scenario of death of the jackpot winner. So even if the winner dies before the last payout, the instalments will still be distributed.

Usually, your family is the one that would tell that to other people.

In the past, there are a lot of people that would usually gossip about certain individuals who just won the ending or the lotto. Their mother or father confirmed those winners that is why they knew. Here in our country, there will be a lot of people that will get close to those people to get something from them that we call "balato".

Unsurprisingly, the winner of a Billion Dollars wants to remain anonymous. If the lottery were conducted in Australia there would be no haggling over taxes (as the Government takes their share pre draw) and the winner walks away with the bag in one lump sum (none of this scammy "we'll pay you later" nonsense).

A better thread would be "What would you spend a lump sum Billion Dollar Lottery payout on?"

More people are engaged into this kind of stuff due to the number of people winning. In addition, with this ongoing pandemic, people are more inclined to testing their luck where it purchasing a ticket is convenient for them.

In addition, I also think that the number of people who try their luck has significantly increase due to the pandemic. But try to imagine winning that amount of money, dude, you are settled for life.

That's the issue in lottery, a lot of taxes are going to be reduce in the amount of your winnings which is big if you're the kind of person who value every amount of money, but since it's require because of the law, and terms and conditions, I guess It's not avoidable and won't hurt your feelings indeed because if I'm not mistaken, it's a 60:40 ratio, 60% to the winner, and the 40% goes to the lottery.

Of course a lot of lottery players would still continue to hope to win the jackpot someday, and I'm sorry to say it to them that a very very few percentage of chances of winning the jackpot a single lottery player have. It's almost 1 out of million players.

of course they will hide the identity of the man who won the lottery because it is for his safety matters. Last month there is also an American who won in the lottery, if I am not mistaken it is almost hundred dollars also. How lucky they are hitting those jackpots, for the last 13 years I am trying my luck in lottery but until now there are no winnings that I am getting. Hoping very soon that I may hit some jackpot also like this man did.

Tax for lottery winnings is the highest if you compare it to anything and it's mandatory and a common fact. This tax is also can be seen in most gameshows that requires winners to pay the tax for their winnings which is almost half or in some rare occasion is more than half of it. 60:40 ratio for the lottery isn't bad at all as the amount that the winner will get is too massive and even 60% of it will change one's life.

The chances of each participants is too slim to win the jackpot and just as you've said it's 1 in a million combination chances. Some says that you're likely to hit by a lightning than winning a jackpot in a lottery due to the very slim chance of hitting the jackpot. 

I am the one that began to talk about a legal representative and as we know regulations change depending on the place where you live but I have seen many times lottery winners which had their identities revealed by receiving the prize money themselves, in which case it makes sense to have a legal representative to maintain your privacy and avoid being the target of criminals and scammers, now if the regulations where you live protect your privacy from the beginning then it does not make sense to hire a legal representative and you can receive your prize money with no issue at all.

13 years is a long time to play the lottery regularly, did you at least win some decent money back or nothing at all? I tend to only play when there is a huge jackpot in place, but so far I haven't won anything yet except my buyin back. Unfortunately most of us are never going to make it and win a jackpot, the odds are just against us. My grand father played for more than 45 years lottery every week, and his biggest win was less than 500 USD  :(

That would be the same in our country but in a different lottery.

I mean, we are still talking about those huge pots of money being the prize, right? Because that is a huge risk for those winners to be announced on national TV or even online unless they themselves or their families told other people. I mean this money is about millions and millions in our currency and I think that would be really inviting to criminals.

Luck is really not for everyone, some lottery winners don't even bet that often unlike those who regular bettors do. Even though lottery jackpot prize can really change your life, some people still live a miserable life after they won. They spend all of their money on useless things not thinking about their future. They are consumed by their greediness that they think their money won't run out. They will just realize it when their money is all gone.I hope that mega million jackpot winner spends his money wisely.

But not as Big as what OP posted , a Huge 1Billion Dollar? that can make you live whole life even without working, and that can feed your third generation with that plenty of money.
I don't know if how much is the maximum jackpot in lottery in that country but that is really tempting and luring, the only concern in my mind is , does this win really goes to a real people ? or the government  just give this name ?

Hit hundreds of dollars from the lottery will be "wow" news because the lottery is one of the gambling games that will be hard to win. Those people who hit the jackpot will have big luck in the gambling games to help them win. If you have luck, you can hit the jackpot, but I remind you that it is not easy as the casino will not give much chance to people. But it could happen if that person has luck.

Please, tell me how do you count? As i know, in USA there is only income tax with the highest amount of 33 % (with more than 10 millions per year). And one important moment: this is not counted from main sum, but for every part of this sum (10 mil) the tax will be different. For example, for amount of 99 000 it will be 0. From 99 000 to some point this will be 2.5 % of something like that. And up to 33 %.

Am i wrong?

I think security reasons are why the winner remains anonymous even though it has gone down in history..
https://www.forbes.com/sites/zackfriedman/2021/01/25/lottery-winner-will-get-1-billion-heres-what-happens-next/?sh=2972f9c556c1

sorry but I like the title of the thread ;D

I have to agree with StartupAnalyst. This loophole should not be there, else the governments would lose a lot of the tax revenue. Here the example is given for jackpot being shared by 10 individuals, resulting in a reduction in tax burden of 7%. Why 10? Why not 1000? In that case there won't be any tax which is due. If it was possible to reduce taxes in this way, then jackpot winners would start misusing it. So I don't think that it is possible. And I don't even know whether you can claim multiple ownership of a single lottery ticket if the lottery T&C clearly prevents it. So going to the courts also won't work.

That's part of gambling in real life casinos, as long as "tax free" isn't mentioned for such winnings, you will expect deductions upon claims. You're  already a winner that you hit the jackpot and you'll just ignore the feeling of being deducted with taxes as long as you'll take the huge chunk of your win. You'll understand or probably will not care at all as long as the remaining amount is yours and still a huge prize money.

I don't know why everywhere I see people are winning now a days I saw an instagram post from duelbits.

https://i.ibb.co/CMSSys8/Screenshot-2021-02-07-17-57-24-13.jpg (https://ibb.co/xfrrb8L)

I believe these users are extremely lucky at the same time I do think that the cryptocurrencies are way better to gamble since this time most of the users won't have to pay taxes at the same time I hoped that the man didn't get any complications in encashing out. This is where it all gets struck though. Plus we would have to think about all the forms they will have to fill before they can even move forward.

Plus I believe that this 60:40 ratio is really bad man. Honestly!! This is not only unfair but also it takes away so much money from the winner itself. I did not know about this before.

That should be expected.  You are right  tax  always there whenever  you'll taking huge amount  of money  in such  legal ways.  As government  agencies have  the right  of implementing  it as the law stated  it.

Winning  huge amount  of money  is really  a luck base opportunities,  once you  got this chance  everything changed in your life, even you'll  been ask for paying  taxes you won't  be bothered  as the first  thing in your mind  is the amount  of possible earnings that you'll  going to  take home, as long  as the amount  of your winning money  is far way  bigger than  the tax  that will be deducted  from your total balance.

What a big win, $160000 is more than enough for the entire life time of a family in a third world country. Quite often these kind of big wins have been taking place with any of the gambling site. Recently I saw such wins with Stake, Roobet, and now it is duelbits. One of the participant has won a Tesla Truck. The user is really a big bag holder, because a common gambler won't spend $240 in a single bet.

How are you supposed to live with $160,000 for lifetime? I am living in an Asian country, and the amount that you have mentioned is enough for only 2-3 years, for a family of 4-5 members. If you want to live in a rural area with extremely limited spending, then it may be enough for 1-2 decades, but still that sort of amount will fall short while facing any emergency situation.

I am not sure if that money is actually going to be enough for a hole family. If I won so much money I wouldn't rely on it to last a hole lifetime. If you want to send your kids to an expensive college abroad you probably need more money. I would treat any big lottery win as a nice bonus but would still take care of myself without that money. Its good to help friends and family and invest the rest.

Only one thing that I can think of. Then there are many gamblers that became lucky lately. There's no explanation for that but we're happy to see them keep on winning from jackpots to jackpots.
Even in a third world country, because of the economy doesn't stand good. You're likely to spend that within less than 5 years considering that you don't have any cash flow to come in and you're reliant on that amount solely.

We all know this no need to say it:) But I am really really happy that I managed to with draw most of my winnings on the last time I won something big on crypto (with sportsbet). It was 0.3 BTC worth $3000 at the time but I withdrew 0.295 and only used half of it to cash out. Now it is worth over $5000 what remainder I had left so I am very happy:)

If i won this amount ? maybe i'll be shocked and dead  ;D , This is a insane amount to be won by single winner? or even 5-10 winners sharing still this is a very high amount.
240$ for a single bet? or maybe he really has a Friend in Luck ? i have a gambling friend that likes betting one time per gambling time.
all his budget for the certain day will be bet one time , and if He lose? then He'll go home .

Yes, we all know about that. Maybe you have an experience about being very happy and forget almost everything, but only happy at the moment. At that time, before your emotion become bigger because of the winning, you say to yourself about manage the money, but because of that feeling, you forget about managing the money and drag to the happy moment.

So next time if you can winning the biggest winning, you should always remember and do not feel too happy because you can forget your plan before.

The first option will make anyone who sees alot of uncertainty for the future to consider the second. I know couple of people who I believe will go for the second option especially if they've recouped their initial investment with enough profit.


I dont expect him/her to be very annoyed by this if it made him enough profit, and if  he is a contented and nice person. Hope he played with what he could afford to risk/lose before winning the hugh amount of money.

*wtf, what a huge win and maybe not withheld tax...
That $ 160k is enough to make my family and I live well for the next 20 years. this person's victory was extraordinary. for life, I don't think I can get an opportunity like this.

You hear mostly about the lucky winners.. those who lose their money are very unlikely to tell about their losses to anyone. I know a friend who lost 1 BTC in a single bet many years back (when the exchange rate of Bitcoin was around $250). He went for the 1.01x bet, which has a 99% chance of winning. But his luck was really bad at that time, and he lost the bet. 1 BTC gone, in a matter of hours. I am pretty sure that he may be regretting about that loss, especially with Bitcoin exchange rates zooming towards the $50K level.

In gambling it is not always win. Sometimes you will experience to get lose and sometimes just in the middle. I also personally exprience loosing in gambling. When I was just starting to play bitcoin games, I used to play dice game in bitsler. I used to gamble all the money I have. I play all day until I have nothing left. And one day I realize that I might not be good in gambling and I need to have some other things to do in order for my money to earn profit. I tried to play other gambling games and I read some things in order to have good and positive earnings. I went here in campaigns and forum, I tried trading and I also have stocks. And the I realized that failures isn't gonna define you a whole. You will lose but you will bounce back again to earn good.

How lucky are these people? I mean I have tried a lot of different lottery games but still have no luck. And that’s a huge amount of tax to be cut from the winnings. Good for them though, wish my luck is the same as theirs.

Knowing the odds on hitting the right combinations on a lottery game then we can really say that you would really be needing that extreme,super,mega,ultimate kind of luck.
Hitting these are life changing events and we do all know that the money involved would really be enough for someone to live on a lavish life that theyve been wishing for.
When it comes to tax, yeah its too big but you cant do anything about it when government do really impose such laws.You would need to pay up which still you
would able to receive big amount even though it take some serious cut but do you still mind or matter that much on that time you do hit up? For sure you wouldnt bother.

That is because your luck is not coming to you in any gambling games. I think you can conclude what you need to do with the gambling games. It is difficult to search for the winning because that will depend on the luck itself. Playing gambling is for fun and enjoy the game, not about to win the games. But if you have luck, you will win some money or even you will hit the jackpot. I think you need to consider that playing gambling will be for fun and if you win, that will be a bonus for you.

If it's any consolation OP, we all carry the same probability of winning, be it on any type of lottery. It just so happened that this time around they got their break and was able to take advantage of it. In any case I do not see lotteries as cash cows or something you could rely on if you are financially distraught, it even does the contrary in some occasions. So every bet you take be reminded that it's much more possible for you to be struck by lightning, or for your house to be ravaged by an asteroid, than you ever winning the lottery. And that probability goes for me and for everyone too.

It's like 1 in a million of chance. And whoever wins the lottery got that 1 chance that's very rare for us. If your luck isn't with the lottery, try other games and you might see the chance there.
You'll just set aside the tax if you're still holding millions with your prize.

So it is better if we can use gambling for pleasure as we do not have a big chance to win much money. If we can do that, I am sure we can enjoy the game, we can get fun, and if we win, that will be another bonus to us because we are not chasing the win money. It will affect our emotion too because we will not think about the win money, and we can enjoy our time in gambling. After playing gambling, we can refresh our mind, and we can back to our activity with a fresh mind.

OP could have included a question or poll on which option people would prefer.
both are interesting, but probably better to get the lump sum, all at once, instead of the 29-years option.

it's an insane amount, hope they use it well.
with such a huge amount they could be set for life and their children and children's children as well...

This is good advice since this topic already has a 12 page.  wait a minute I will change it soon..

Even with so much money you can still blow through it pretty quickly if you don't have at least a minimum personal finance knowledge. You could be surprised at how much you can spend, and if you don't make the right investments at first you could still lose it.

That's the sad game! You need to know or quickly learn how to play it or else you will lose.

Yeah, that's a good idea to see how the other members will react on it. I'll wait for that update you're going to do OP.
I agree, without financial knowledge, a person that has a lot of money can become easily broke. And compare to someone who doesn't have a lot of money but has financial knowledge, he can thrive his way to becoming rich or financially free.

appreciate the irony here ::)


This reminds me of Abraham:

“Discipline is choosing between what you want now and what you want most."
- Abraham Lincoln

With so much knowledge on financial education nowadays available for free online through books and youtube I believe it may change in the future and more people will learn how to preserve wealth... but you're definitely right.

---

@tabas
that was just a suggestion, maybe for future topics, I wouldn't expect Chrystora123 to change the topic now and even if they did don't think it'd be super effective.

I know because it's not possible and not effective anymore to change the topic or add a pool here.  Thank you for your advice..

---

btw, the winner is still hiding his identity and it looks like he chose not to expose himself to the public (between fear or dislike of fame)..

That was a good suggestion then but it's your thread and you have the rights to do it if you want to. But if you see it not needed anymore, that's fine and just keep it going just as the usual thing.  :)

Most people will use the win money to buy the unnecessary things they don't need and forget to fill what they need. They are not ready with the biggest winning they get, so they don't manage or think about what they will do with the money. That winner only thinks about what they can buy with that money. If we can have finance knowledge, we will know what the important thing to our life is, and we will use that money to fills that first, and then we will save that money for our future. We should have and know something we need, so when we win, we can manage the money and not spend on the secondary thing, which is not too important.

With a 1bn lottery win you can definitely afford all the unnecessary things in life. Honestly how will you ever be able to spend so much money. It seems in possible. I mean most of us here in the forum are great investors and could easily make it work to live if 1 million. With decent investing you can live of the interest and don't even need the lottery win itself. But with 1bn you probably can't even spend all the interest. It's so much money.

It is easy to spend so much money with 1 bn lottery, and it doesn't take too long to do that thing. Sometimes, people who got a lot of money from one or two things will forget about their plan that they made before. They will use the money to buy, every day just buys many things, most of all the things about the unnecessary things, and they will forget to save that money. With our needs increasing, it needs more money, so that will not take too long to spend it. That will be the lesson to us to take care of the money, and not spend it on unnecessary things.

Wow, this is really a huge amount of money, winning the mega jackpot with $1 billion is such an unexpected thing for many people because that is roulette and a lot of people are playing this game with 100% luck-based gambling. This is a good start for him for this year and that prizes could be used for many things like creating a huge business and investing as well.

With the mega jackpot you will have, you may now buy anything you want, you can also stop your job if you want because of winning huge amount of money which is good for having a passive income in real life which is business.

no problem at all

---

regarding revealing their identity, smart decision imo.
specially right after the prize, in the end they'd just loose privacy and probably attract more people willing to do something bad than something good.
besides the fact that it could change some relationships with friends/family after they knew winner got such a huge prize.

Luxurious life is really something that people forget the reality in life, if you have that such amount of money and you are not used to have it before, more or less you'll just continue wasting it, the thoughts that you just get it easily and you have all the rights to spend it with
whatever you want, the very  big mistake that the  person commits most of the time.

Instead of wasting better to plan with a concrete executions, Luck most likely happened once in a lifetime especially that kind of winning amount and the way how you win it, lottery is one in a 40/million chance of a lifetime. Giving the privilege you must understand how to value every single cent. of that winning amount.

Thats if he do able to make use or allocate those winnings in a good way or in right manner because not all winners would really be having that kind of mindset after they have won big time.

Some will be spending out just like there's no tomorrow but some do secure it out on making physical business or making that leverage ones to secure out their future even if they do spend it out.

Some will be playing again to gambling or other things that they had in mind.Its really hard to ignore not to buy up those wants that you had been wanting for since you we're born.  :D

Most of the lotteries doesn't provide the option for jackpot winners to stay anonymous. Their identity will be splashed all over the media, to give more publicity to the lottery game. And this can cause a lot of unwanted consequences for the jackpot winner. Relatives, friends and even local politicians will queue outside their home, in order to get their share of the pie. There is going to be enormous pressure on the winner to share the amount with everyone, including religious groups and charity organizations. Weak hearted people fell victim to this and lose a significant amount in handouts as soon as they receive the winnings.

For me i don't care about why or How people are winning in Duelbits because my only concern in this part is the Proof that "Duelbits is a legit and trust worthy " gambling crypto site in which extending their hands now to bring wins to many players .

multiple times nowadays that i have seeing Posts from instagram about something like this.

 and I am proud to be a part of this great company now.
If you know how to manage that amount ? even your 10th generation Bloodlines will be Fed in favorable ways.

If i am to win this 1 Billion dollar? i will Build one Orphanage for the young children .
and while having this , i will make my Own gambling site with a 50% fairness , since  i have tons of money , it doesnt matter if i win or lose but what's important is that the players are happy and enjoying my site.
Without any scam accusation of course .

No amount of money is enough. If that was the case, then the richest people in the world (such as Jeff Bezos and Elon Musk) would be giving away most of their wealth. But these people are still trying hard to get themselves more wealth. Like I said, there is no limit for ambition. Those who are having $1,000 will aim to become a millionaire. Once you become a millionaire, you realize that you still can't afford certain things. Now the aim is to become a billionaire. And once you become a billionaire, the next target is to have a wealth of $10 billion.. it will go on like this..

*good business idea, opening a gambling site from gambling winnings...
The competition between gambling businesses is eternal, with that much money you will definitely be able to make good marketing, for example by opening an Orphanage. Social issues include marketing tricks too. *I hope whoever wins this much money can open a business and make a donation

it's not always like that, since greed never ends if you feed it.
there's always a higher number.

an interesting key is not elevating lifestyle and spending as fast as one elevates income (which is hard on sudden prizes like OP's story, but still doable).
another interesting take is that happiness and money walk together until certain part of the path, where they separate, and earning more money doesn't make you happier afterwards.

better pursuing other things like purpose, challenge or enjoyment.

When in talks of about happiness then not everything on this world can be bought by money but we cant really deny that money is part of happiness because you can do all the things you do like
and do buy all the things you do want which simply does show that money does really play a big role when it comes to happiness of someone.Knowing that people or human beings are materialistic
and somewhat greedy when it comes to possession or things in life which this kind of behavior isnt something that you could really be surprised on.

I strongly disagree to the idea of that the money is a part of a person's happiness because I believe that money is only a part of our needs and every use. Earning money is a very need or our top priority because all of the things we need and we want are definitely can buy by a money yet not all, as you said that happiness can't be bought by money. I agree to that. Winning in jackpot is one of the best reason why most of the people getting happy, because of the surprise or luck but we must be aware of the idea that anytime money can be gone and spend but the true happiness is living with us, inside of us,

I agree that even though you have money, you can't buy everything even you win $1B. But having such huge amount can make you or anyone happy by giving them what they need. It's the only thing that one who's in good status and very fortunate to give back if they want to bring smile to others face. Spending that money correctly and wisely will also rely on the attitude of the winner, too bad that there are wealthy winners that have been reported to be broke because they spent it like there's no tomorrow.

yes, in the end being wealthy is way more about how much one send than how much one makes, and of course: how well they invest.

1 billion could make a lot of families and even whole societies quite wealthy and well for a long long time.

If I'm not mistaken, one of these lucky/losers sold the rights to film his case in the cinema. The situation is standard - won something like $ 100 million, quickly spent it and returned to work as a loader. I don't know if the movie helped him to start moving forward again or not  :)

those who win the jackpot continue to fall into poverty are really stupid...
we can find who the fool is by typing on google. having fun wasting money is trapping fun, those who became millionaires in one ordinary night couldn't contain that desire. This is why it is important to set a lifestyle so as not to be wasteful when winning money from gambling.

They don't know how to protect their wealth and take care of it. That's pretty bad for those winners who have held a huge amount of money for the first time.
The spending is likely to be done as much as they want and thinking that it would be an unlimited source that they have. Even though that it's a lot of money, it doesn't mean that they cannot run out of it if not taken well properly.

If a gambler won $ 100 million in a jackpot or lottery and then he loses all his money very quickly, then whose fault is this ? If the winner does not care about the money or if he is not willing to learn money management, then i am afraid he will never gain money even if he won a lot of money many times.

It is so important for anybody who wins the big amount and not a financial knowledgeable person the first thing to do is to appoint the advisors because that will only help you to make money from the money which you have won big. To make the money rolling for the rest of the life you need the special advisors who are in the field and knows the best. If one cannot do it and just lose the money in greediness of thinking can big more than its their fault only.

Those who won from the jackpot really need to manage their money and do not let the money gone without you know because that money can help you survive for your life. But you do not need to play gambling because you hope you can hit the jackpot again the next day. Setting a lifestyle will be important, so when we have money, whether from hitting the jackpot or from other sources, we will better manage the money.

Better management is really the important factor, if you know how to value those money that you earned you'll changed your life forever.

Lots of people when they've win a huge amount of money out from gambling, they'll mostly consumed it for luxuries not realizing that the chance comes only once.

Better to have a good management of all your money to assure you future and not to go back from the last time condition in life, do the change for good.

He did not lose his money, he spent it on a luxurious life - cocaine, prostitutes, expensive cars and so on. This is what attracted the writers who decided to make a film about this, I do not think that anyone would be interested in a film about an ordinary story - first a big win, then a big loss.

No matter where the money comes from, we can do our best to use the money for our life with better management. When people get big money, they will not spend just to have fun, but they will also allocate that money to the right place and use the money properly.

When people won a huge amount of money, what they think is just buying a luxury thing and getting that product because the money right now is not their problem. So in this matter, our lifestyle will determine what we want to do with the win money. If you have control over yourself, you will not just use that money to buy luxury things, but you can also manage your future money.

Yes, spending money in an instant is easy no matter how big the amount but it is not a good thing and you have to think about the future, and think the opportunities will not come twice and your chances of having a lot of money from the jackpot should be put to good use.
plan life management with good management and let your money work and grow by investing or else, you deserve to buy luxury goods or whatever you want and you can get it because it's your money and rights but buying what you need will be much better.

gambling should be treated as a play, enterteinment, not as a way to build wealth, indeed, great wealth is built in the long run by those who understand compounding.

Just to make clear, spending and investing is different. Using the word investing is more appropriate than spending in your case since you are not putting money in exchange for something that has no future value.

The conclusion on this thread was, All money that earned through fast phase method will be spend too on fast phase because the people who earn it has the characteristics of greediness and he or she can't change that fact.

We can say that and it doesn't matter to those who win because that will not be the first thing that will come to their mind when they have that much money, splurging and satisfying your long time desires is going to take the wheel and make you spend a lot of money in that. I mean, most lottery players do not know the concept of investing and such, that is why they are relying on the lottery to make a fast money even though the chances to win is slim to none.

that famous quote by Warren buffet says that you have to learn to make money while you sleep otherwise you'll have to work until the last day of your life
even though Warren doesn't get bitcoin (https://finance.yahoo.com/news/why-warren-buffett-hates-bitcoin-220000544.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAC8H1Lc7vVLqXIgDAmlc9HtvpLw37cQahvciV5BIxVGnknIp52R_GdDJQ7Y8_drvNeUFf_ZKvwGVJhY4lMeSOSPVjfOjXZ8xO5DPqZI1lkRxO8ClOEnTjOTbDoexqsCMgjz15IkJwG9RHfz1h0qwAWiR4niNKFRSmQjaUKyeJGhE) and working being better when you don't need the money (https://www.youtube.com/watch?v=8-Li_sFNc4Q&t=9s), one shouldn't use more than a minor minor part of their income to play, if they want to play the lottery, even with really little chances, let them be...

But at the same time it is so sad, 100 millions should be more than enough for you and several generations of your family even when living in extreme luxury, I do not know why those people do not get a financial adviser to help them, even if you invested in something that only gave 4% per year and you only withdrew 2% that is more than 2 million per year and even more importantly this will mean the money will last until you die and still have a lot of it for your children.

Let your money work for you. That's really the best thing to do once you acquired enough amount savings. Yes! it been said it correctly
even it's not from the jackpot, valuing the money is very important.

Never to make a huge mistake in spending to much, keep yourself far from luxurious life if you know that you can't control overspending your money.

End line, it's you and always you to take your call with your winning fortune. ::) :P ;)

Sometimes, those people are confused to manage their money, especially for the win money, and they tend to buy the things that they do not need exactly.
Maybe they really need a financial adviser to help them manage their money, but maybe they need to learn how to manage their money if they cannot get it.
It will not be hard to do if they want to allocate the money to save money for their children.
That will need more efforts to manage it, but that is worth it for them, as they will not want to see their win money will not last in the short term.

I used to laugh when people told me that mindset was the first thing to get right when it comes to money,
but it turns out that: IT IS!

fix your mindset first

this can make someone rich regardless of winning a huge jackpot or not.

This is exactly why previously the winnings used to be given as annual payments for a period of 30 years, rather than as lumpsum payment. Most of the lottery winners belong to the poor or middle class and in some cases they don't have the experience in managing such large amounts of money. This makes them vulnerable to wasting their money in various scams and Ponzi schemes. It will be better for such people to hire a financial manager, who could take care of their investments.

The average person cannot take advantage of these tips - almost all income goes to living expenses. Reliable investments give meager income, therefore, to break out of this state, one must either make a career (to some extent sacrifice one's life) or risk money.

That is most cases that happen to people who won big money or from the jackpot.
They are shocked to see their name comes out to become the winner, and they never thought about that.
If they only spend their money to buy many things without benefiting them, they will not see their money for a long time, and even their children or grandchildren can not enjoy the money.
As long as they can manage the money, that will not be a problem for them and can enjoy the money.

You must be joking, if I ever earn even a tenth of that money I would certainly would not want anyone to know anything about me. And that is me - a quite boring guy with a quite boring life no debts and living strictly within the law - so I could imagine someone getting that kind of money and having the usual "friends" that will all the sudden re-appear, or some type of debt or any connection to shady stuff.

If it were me, I would probably try a full identity change.

Those winners need to recognize their limitations, there are two ways in which they can receive their prize money, the first is as a lump sum which is the most popular option but the other is to receive just a part of the prize every single year for a few decades, while this is not as attractive this by default will mean that you will be rich for decades without doing anything and yet those winners do not accept it and then go bankrupt or even kill themselves by living in luxury.

That is not how a lottery or a jackpot works, after the taxes they can deposit them in a bank or any other investment if they are smart and usually jackpot winners end up loosing everything as they spend most of their money in gambling and luxury rather than having a smart investment and you can search online for jackpot winners who lost everything and you will get many stories.

I prefer to receive all of the prizes at one-time because I do not know if the casino will still operate or close in the near.
If I can get all of the money, I can use it for something that can benefit me, and I am sure that money can cover all of my bills for some years.
I will try to take care of the money and trying to enjoy the money with my family and always prevent something that I do not want.
The key to enjoying the winning prize is how we can manage the money for our life, and we can try to allocate that money in the right place.

Living a frugal life and avoiding living like a millionaire even if you have a lot of money as if you've won a $1B jackpot.

Securing yourself and your family's future is in your hands on how to do finances with the amount that you've won. I agree that it's the winners call how he shall take care of his winnings.

It does really need Godly-tier kind of Luck for you to hit up Lottery knowing the odds will really be just like 0.00001% in a multi-million chance which does mean that it is close to impossible.

Answering up your question:
The winning ticket was sold at a Kroger in Novi, a northern suburb of Detroit -- about a 30-minute drive from the city

Getting source from link in op: https://www.yahoo.com/gma/mega-millions-jackpot-reaches-1-175200317.html

Of course. Who would be fool to receive the money fractioned in parts yearly? This way the casino/lottery is actually making profit for themselves with the money which actually belongs to the jackpot winner. The best choice is to receive the whole prize at once and start investing a large part of it instantly in different ways, so the gambler won't suffer from financial difficulties never more in his life.

Yes, that's a lot of money and can help you settle for the rest of your life and even unto the next generation of your clan.

It's up on him how he will maintain that wealth that he owns now or if he's just going to spend it without thinking of taking back those money that he has spent through investments and other created source of income from that jackpot that he had gained.

He’s one lucky person if he won that huge amount of money and I’d invest them in cryptocurrencies if it was me. That’s what I consider fate, and I’m also sure he’d been in the lottery game for long and may also have spend a lot of money on that. Hopefully he keeps his wealth or maybe invest it in something that’ll make him earn moremoney for his future too although the amount he won is huge already; but you know the mortgages and taxes could be big too.

We do not know, but maybe a person who wants to receive the money fractioned or the casino does not have big cash in their account, so the casino needs time before they can send the win money to the winner.
If the winner can receive the total prizes at once, they can use that money for their life, and I am sure they will not have any financial problem from that time and in the future.
But that depends on how they can manage the win money.
I hope someday and we can hit the jackpot and win the prizes ;D

These sort of jackpots (>$1 billion) only happen once in 4-5 years. Obviously the trick here is not to invest all of that money in any one asset. Because even low-risk assets such as treasury bonds are not 100% safe. It would be better to diversify the investment into several sectors, including real estate, bullion, equity, bank deposits.etc. It will reduce the risk of any of these sectors getting affected my market events.

yes, on the diversification matter it may be interesting to look into Ray Dalio strategy, he calls it "the all seasons" portifolio
not sure if he changed it now because it relied heavily on treasure bonds in the past, specially longterm ones.

if anyone wants to read more about it:
https://www.iwillteachyoutoberich.com/blog/all-weather-portfolio/

odds are high for a win that is  big . he is lucky because it wasnt a common win but small wins are too common that we consider it not as luck  but fate and luck is different . if he tried hard , thats what made his fate to win
 the identity of the guy is hidden.
no hints if where he will spend his money but if  a guy like you is going to win , the money is in good hands  because you are going to put the money in cryptos and with that millions of cash you can help the cryptos easily grow in sizes .

My friend told me that it took him 40 years to realize that this is right. He has been struggling financially, earning just enough for his family and not able to get savings, that he wished for another way out of the rat race. I am slowly teaching him some basics on cryptocurrency and I do hope that he might be able to pick up some information here in this forum that could help him turn his life around for the better.

without a side business, it will be very difficult to earn more money...
this is the reason why many people try stock investing, cryptocurrency, lottery, and gambling. and a lot of good news that says that those who are truly successful are those who struggle independently and have independent financial capabilities.

I read about many people who can succeed in investing in stock, crypto, and other things, including gambling. But not many of them can have that success because, in any of work or investment, we must know how to do the right thing to make money and use that way for the other source of income. But after they can get the money, that will depend on how they can manage their money for their future because if they spend it at once, they will not have a chance to survive in the future.

The struggles are the pathways to seek for any ventures to succeed.

A lots of people use this struggle to work out and find the right ways to earn, same with gambling there are many people who use this venue to try their luck and if does, if they win then changing the fate in life is really enjoyed. It's up to the person who won the jackpot to take care and enjoy of his winning money.

If it's stated that taxes are included then even if they will expose who the winner is, it will still be deducted. But that's not the main purpose why winners are not revealed.
It is for their safety that no person will know them because of the money that they have, they might been robbed and attacked by anyone who has bad intentions once they know who the winner is.

Taxes cant really be evaded as long it has been imposed that they would really be needing to pay up or having those reductions.Most lottery winnings are already been taxed or can be tax-free
just like here on my country which means there are no reductions.I dont know on how they do that knowing that every government around the globe does really consider on getting reductions
when it comes into these kind of winnings.I dont see the point on telling that paying up tax will be the reason on why someone should be hided.It is indeed the other way around
which is basically trying to avoid those people who do have bad intentions because this isnt a small money we are talking on.

That depends on the declaration of the casino if the tax is already included or not. But if the casino says that's tax free then jackpots like this are truly a wealth that you can enjoy forever.
That's what mostly cuts the fun when hear someone says about tax.

I will have to disagree, this is one of the ways winners can receive their prize, it is not popular but it is an option, instead of receiving all the money in a single check they can receive it during a period of time, for example 20 years, this has the advantage that this will limit their potential to squander their fortune in just a few years and will help them to be slightly more responsible, also that money automatically gets invested in some of the safest investments available so at least it protects partially the purchasing power of their unclaimed fortune.

There is nothing to argue mates because you are both correct , because the Option is depend to the winner . he can choose to take it all or he can choose to let the funds stays and get it little by little for assurance and safeties.
and also depend in which countries/Governments rules in Lottery because each of ours has their own rules how to distribute the wins , Just like in Showtime winnings there are others that does not give completely in one time instead i partial.

It is a little bit complex for foreign gamblers. The casino may say that the winnings are tax free, but the gamblers may be from other countries and in such countries this income may be taxable. Or worse still, gambling may be illegal in these countries and therefore in the tax return the amount needs to be reclassified as a gift or business income. The better option would be to convert it to Bitcoin and anonymously transfer it back to the home country of the gambler.

Yes, that's a pain if they're going to fly it to their main land. They really have to include the declare their money and where it came from. And it's hassle if the country has huge taxation for money that came from gambling.
And it's a big problem if the country declared it illegal pertains to gambling, that's a huge thing to be concerned but there's a way these days through converting to bitcoin.

I have read many stories about someone who has won a large number of lotteries, this victory depends on our luck. Because everyone has
different luck, but what's interesting about this lottery can provide an opportunity for people to become rich instantly. Which turned out
to have a frightening negative effect, most lottery winners will have a hard time managing the money they get. Since they are usually not used
to having large amounts of money, most lottery winners will spend the money they earn on something that is extravagant and unnecessary.
There are stories of lottery winners just a few months back from being poor, this is indeed a problem for people who win lotteries in large numbers.
I suggest for lottery winners to hire professional financial advisors, so that the money they earn can be managed properly.

That is a smart move for the winner to convert his winnings to Bitcoin, so that he could be able to go to places and all he needs to have is a laptop with the wallet and the Bitcoin. He can even wait for Bitcoin to get much higher and thus he will be able to double or triple his earnings. As far as I am concerned, I am already happy if I won a million or two, since I only have simple wants like a small house and a small business. All I want is self sustainability.

That is the usual problem those people face when they win the lottery, it is obvious that every single person will love to have millions and millions of dollars come to them without doing anything which is why the lottery so popular, however most of the people that win the lottery face bad consequences because they do not know what it takes to earn that kind of money and they begin to spend it in all kind of things that they do not really need and ruing their lives in just a few years.

Not all but most of them do really end up that way because of unwise spending of people on their winnings.They do spend out just like theres no tomorrow.
They arent thinking on diversifying those funds for them not to go bankrupt or lost it all in a short span of time.Well, it isnt bad to buy on what you want
but when the time comes where its unwise on spending into something which isnt important then thats really a wrong move to take.
Hitting lottery is a one time life changing situation thats why its better not to waste it up if we dont like to go back into our normal lives.

What happens is that they go from having a low amount of wealth to have a lot of wealth and it may give them the impression that the money that they have is unlimited but that is simply not the case, it doesn't matter how much money you have there is always enough stuff around the world which you can buy and ruing your life in the process if you're not careful, just as an example let's see the real estate market, there are houses that are very cheap but there are mansions that are incredibly expensive so the real estate market accommodates most people despite the wealth they may have.

One of the biggest mistakes that a lot of lottery winners make is that they end up spending most of that amount on expensive real estate. But due to their inexperience, they fail to notice the annual charges that needs to be paid. The property tax can amount to 2% to 3% of the total value of the property, and on top of that maintaining such luxury properties in a good condition require a lot of funds. In 10-15 years, the property can cost as much in annual charges as its original purchasing price.

in my city, the property tax is around 0.1% - 1% / year of the value of the building depending on the type of building...
but you are right, if a person who wins the jackpot immediately buys an item that requires you to pay taxes on it then that is a mistake. it would be wise to buy the money an investment asset so that you can get income from it.

Those expensive real estate can still be said as an asset which for me is a good thing that a winnee has spent on their money. That is considered as an asset if they will use that expensive real estate for rental and its value will appreciate overtime.
It is better if they spend it on that thing rather than things that will depreciate even if they are not financially good in deciding what to buy and what to keep.

I don't have anything against luxury real estate. The only thing that I was pointing out is that the lottery winners should plan carefully when they purchase these assets. When they buy these assets, they should make sure that the pricing is optimal. Luxury real estate is almost always overpriced and you need to wait patiently for many months if you want to purchase them at fair valuation. And in case the annual maintenance is an issue, then the owner will be forced to sell his asset. And if he wants to sell it quickly, then he may need to reduce the price by 30% or 40% (i.e if he is not ready to wait for 1-2 years). So these things should be kept in mind.

But that is not worth just buy expensive real estate because I am sure we can search for a low price real estate. Maybe after we can have one or two real estates, we can rent it to make more money. Hitting a jackpot needs us to manage the money because if we can not do that, it will not takes too long to see the money will be gone. We can not have much money again if we lose it, and I do not think that we can hit the other jackpot again in the future. If that person knows about crypto, maybe it will better to invest his win money in crypto so he can make another return in the future.

These life changing opportunities shouldnt really be wasted because once you do lost and spend of those winnings then you would surely comeback on where you had started.
Be wise and be sensible with those cash that you do have, if you dont like to end up on being poor again then better to make use of those funds wise and be diversified
into various investment and later on you do buy on the things you do like in life when you do see you are sustainably able to make profits on leverage businesses
which an ideal target for someone to achieve on.

Yes, that is once in a lifetime opportunity that will change our lives forever. That needs big attention on how we can manage the big money. Otherwise, we will lose it in a short time and we will never get the same experience in the future. If you can diversify into the right investment or buying something that will worth it in the future and give benefits to you and your family, you will have a chance to increase your wealth from time to time. Only a few people can use that moment and have a plan to constantly use their money to make money from the business. They really understand the slogan "let money works for you."

That is not a mistake.

If a winner buys a thing for themselves with or without tax, that doesn't matter at all.

He can spend in things that he wants, it is normal to buy things for pleasure to enjoy and setting aside for investments. That is their money.

Jack Whittaker is the perfect example of what can happen if you are not careful with your lottery winnings. He won the Powerball jackpot in 2002, which was worth $314.9 million (a new record at that time). He was quite rich even before the win, as he owned a construction company. But the jackpot changed his life, unfortunately in a negative way. He immediately donated 10% of his win to Church of God, which was used to buy expensive cars for the pastors. His granddaughter died of drug overdose in 2004. Whittaker himself was charged with DUI in 2003. His home was destroyed in a fire, and finally in 2020 Whittaker died from old age. He was financially broke at the time of his death.

This is a very tragic life, winning a fortune and dying broke, after we've won a huge jackpot, we should know that we will be capable of doing many things that we have thought we can't do, and if we are not responsible for all our actions and wasted the big blessing that God has given us, we will end up a broke and depressed on what has become to our lives, we should live a life worthy of virtue and do not rely on money alone.

There's a story that I've heard that there are some casinos that do this. Those gamblers who win a lot are wise to convert their money into bitcoin and later on sell it just to convert it back to cash without any tax. I just heard it somewhere and maybe that's really happening in real life.

In most cases, it is due to complexities with tax liability and overall legality of gambling. In countries such as India, all forms of gambling is banned. So a lot of people travel to countries such as Macau and Singapore to visit casinos. But if they win big amounts of money, they can't bring it back to India in the form of cash, since gambling itself is banned there. So in many cases, the gamblers convert their reward to BTC and then transfer it anonymously.

I thought at least gambling lottery was legal in some indian states. If it is true gamblers don't need to go too far to try their luck somehow legally. Anyway, the idea of receiving the prize in bitcoin sounds a lot better than being rewarded in fiat. I think the few lucky ones deserve the jackpot prize without having it cut by the government due to bureaucracy and abusive taxes. It's already hard enough to win such prizes, so let the winners enjoy it!

I think I can comment on this issue, although I am not an Indian citizen. From what I have heard, lotteries have been granted an exception, since they are one of the largest sources of revenue for the government. But the structure is so lopsided. Only around 5% to 10% of the proceedings from the lottery sale is given back as prizes and the remainder goes to the government. And even on the winnings, tax (up to 50%) will be deducted. Therefore it is not surprising that a lot of Indians opt to gamble outside India.

That is a sad story from the winners of gambling because, with that money, I am sure he can do many things, including donating 10% of his win to any charities. From that story, he does not have a good family because his granddaughter has a problem and died. That is another example of how the family needs to take care of their children before something worst comes to them. His winning is useless because he can not enjoy the money with his family and broke at the end of his life.

Wow, what a big house edge! Just imagine how many more gamblers could be rewarded if their bets money were used as rewards instead of going to government's pockets. If what you say is really what happens there it definitelly doesn't worth to bet at the national lottery, better to play at crypto sites or in a foreign country without doubts.
In my country there is only national lottery too, but 46% of the proceedings go back as prizes and the taxes cuts I'm not sure, but I also believe it may reach up to 50% of the prize.

This is quite insane to be honest, having only 5-10% of the money as prize pool is extremely low. This sounds almost like a rip off. In my opinion the minium payout from a lottery should be at least 40-50%. In my country lottery is fairly common but somehow the jackpot gets picked relatively often. On average there are only 5-10 million in the jackpot and never more than 80 million. Winning 1 billion sounds insane.

Since there is a blanket ban on gambling, the private lotteries are not allowed. The only exception is being made for these government lotteries. The government justifies the revenue distribution, by saying that they are using most of the proceedings for infrastructure development and improvement of the healthcare facilities (but that is not true). It is very unfair, since only a very small part of the revenues are being used for the prizes. But gamblers (at least those who do it legally) don't have any other option available in India.

When I bet on these lottery games, I always preferred the lowest and most constant bets, even if the return was lower, the chances of winning are higher.
Earning high jackpots is very difficult, and tell me... what would I do with 1 billion dollars? I would be very pleased if I won 500 thousand.

In any case, I currently don’t bet on these lotteries anymore… I’ve already thrown a lot of money. I currently prefer sports betting which is more fun and gives me more control over the bets.

this is interesting and indeed not everyone can survive playing the lottery ^{(i personally haven't played the lottery for quite a while)}, i see people who win the lottery like getting shocked money from God ^{("lol" it's simply astonishing)}. 

like you, i feel playing the lottery is just a waste of time, imo it is more relaxing betting on sports and playing slots than having to play the lottery.  but we must be aware that the lottery is a game that will not be abandoned by people who are used to it and feel that they have not loss.

Betting on sports events is not easy. First you need to do a proper study and find out whether the odds given by these gambling sites are fair. And then you need to get yourselves updated on the latest news, which can have an impact on the outcome of the sports event. However, if you go for a lottery then you don't need to worry about any of this. It purely depends on luck, and you don't need to do any research on outcome or listen to the news.

I am playing https://fairmillions.com/?ref=117797 (https://fairmillions.com/?ref=117797) for a long time and has a ssucces. I am monitoring statistic and playing when system is ready to give money.

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So you have just Online to post this Off topic here? are you connected from that Site so advertising secretly is what your motive?
What is the connection from the thread of this post?
if they Win Big amount of money , then why need to return back to India? why not live in place that they won the gambling  ;D ;D ;D

One billion dollars that's a lot of money anywhere in the world!

Am sure if his a crypto user his going to buy himself a lambo from his winning to fulfill the crypto dream not American dream....

With all the emotions that go into gambling, I would do the same to avoid sharing my hard earned money !

Everyone wishes for a car and probably a Lambo.

If the winner has been dreaming of owning his own car, he would probably buy his cars as it seems like a toy for him and a collection with that vast money.

Countries such as Macau only grant tourist visa for foreigners and it will expire in two weeks. You may win big amounts from the casinos, but that will not give you automatic residency permit. The individual need to look for some other country, with a more liberal residency permit system. One option could be middle eastern nations such as Bahrain, which permit as much as 90 days stay for tourists, without the need to renew the visa. Then there are options such as Maldives and Mauritius, which have the same 90 day rule.