$1,080 Billion powerball lotto winner in the USA

[Wiwo]

Just how lucky you have to be to win such a big amount. The winner probobly dosent want to wait and just wants the money. Even when the winner receives half its still too much money. But still the tax in the US is just to large. But still i guess the winner just wants the money. If it was me I would stay anonymous until I receive the money and hide it as much as possible. It can be risky if someone finds out that someone won that big amount of money.

One of the things that online gambling have brought us is the fact that we can maintain our anonymity as much as we can and still be ok with the whole outcome of the event,  even if you win a million dollar from gambling only you will know and your privacy will remain intact, unlike traditional casino where the third party like a bank will get involve and landing your winning with heavy tax that will reduce your total income from the winning.

But then if the lottery decided to promote their brand winner how then do we expect the ops to hide his identity since announcing the winner on national and other news outlets is part of the prize-giving ceremony?

[Japinat]

The cost of the tax deduction is so big even if you only get half but it looks like a joke, there is no choice but to take even if you only get half instead of having to pay the tax with your own money, not only the lottery but even other prizes in my country are almost the same when there is a prize car at certain events, but when you get a car prize, at least you have to pay a tax of around 30% of the car's price. lol

To be honest, I don't really like lottery games, maybe because of problems like this that always happen when I get a prize winner who gets full deductions or taxes and so on, it's clear that it will make me feel uncomfortable enjoying my winnings to the fullest, why not? taking a tax fee or deduction of around under 10% maybe that would be better than half.  

As per the information I've read on the internet today after reading this thread, the winner of Mega Million or Powerball Lotto will have to pay 25 to 30 percent plus the state/local tax which differs on what state you bought the ticket from or at least where you live and that would be another 10 to 15 percent.

But since the winner came from the state of California where they don't tax lottery winners, that specific winner will only have to pay the federal tax.

California doesn't tax lottery winnings

However, Loyd warns the 24% withholding won't cover the entire tax bill because the prize pushes the winner into the top federal income tax bracket, which is currently 37%.
California doesn't tax lottery winnings, so there's no state tax bill if the winner lives there.

Source

Anyway, congratulations to the winner! 

[Beparanf]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US.

The comma will mistakenly assume your thread to be 1.08 Trillion instead of 1.08 Billion reward because you use 3 digit after the comma.

I'm confused, how would you type out one billion eighty-five million? wouldn't it be $1,085 Billion?

If you read the caption on the video that you share, It is even written as 1.08 Billion and not your re-word 1,080 Billion. FYI, 1000 Billion = 1 Trillion so 1.08 Trillion is correct if a comma is used as a thousand separator. I'm just saying that your use of comma is viewed as thousand separator and not as decimal due to the 3 digits after.

so, why would a $1,080 with a "billion" next to it be mistaken for a trillion?

That's the whole point of my post, You can simply write 1,08 Billion. But I'm not saying you are wrong but only an opinion that it might be mistaken. 

-

I don't want to argue anymore on this dumb argument. You've got an interesting news here.

[KTChampions]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

50% of the winnings are taken by the state  I laugh at this scam every year. If I'm not mistaken, the organizers of the lottery pay significant taxes initially + the winner pays more than half of the taxes, so in total, the state takes 80-90% of the entire prize pool (I don't remember the exact amount). If this is not a scam, then what is it?

[Eternad]

Just how lucky you have to be to win such a big amount. The winner probobly dosent want to wait and just wants the money. Even when the winner receives half its still too much money. But still the tax in the US is just to large. But still i guess the winner just wants the money. If it was me I would stay anonymous until I receive the money and hide it as much as possible. It can be risky if someone finds out that someone won that big amount of money.

One of the things that online gambling have brought us is the fact that we can maintain our anonymity as much as we can and still be ok with the whole outcome of the event,  even if you win a million dollar from gambling only you will know and your privacy will remain intact, unlike traditional casino where the third party like a bank will get involve and landing your winning with heavy tax that will reduce your total income from the winning.

But then if the lottery decided to promote their brand winner how then do we expect the ops to hide his identity since announcing the winner on national and other news outlets is part of the prize-giving ceremony?

But you will definitely undergo KYC on a casino if you ever manage to land on this kind of huge jackpot for AML policy compliance. The only difference is you don't need to be present physically to claim your prize in an online casino but you can't cashout this kind of money on gambling without sacrificing your anonymity in both online gambling and physical as long as you are playing in a casino that is compliant with the law. I think dodging tax that should be deducted on the prize pool is the best advantage you can ever have on playing with online casino.

[btc_angela]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Yeah, really hard to choose if you are going to get the lump sum or not. But for them, I would go with it, so that there will be no hassle and then you can think ahead what you gonna do with that money.

Because if not, then you will have to wait like every month to get the money and it might take years before you can get all your winnings. And for sure, I think majority here will choose lump sum? Right guys?

[rhomelmabini]

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

I'd rather lump sum it rather put it on others hand, half a billion dollar is not a little amount, I'd say "okay get the taxes and just give me my prize". That's already on the term and I think it isn't new if you know how lottery rewarded their winners. That winner should never take it on one lump sum day as well I hope, she'd just be shock how big it is, he's already a millionaire and hope she doesn't take it in one day as well.

I also think it's better to withdraw it directly even though it's taxed and don't get a lump sum payment it's better, than depositing it in the casino and or dividing it in half into two withdrawals it's the same, or it doesn't make a difference he will be taxed too.

But if using two withdrawals doesn't get as big a tax as using one withdrawal, I think making two withdrawals is a good thing to reduce the tax that should be, and he gets money that shouldn't be paid for taxes, although yes he becomes a millionaire and the money is taxed doesn't affect him, but we need to remember that money with that amount of tax is really a shame if you don't have money or run out of money later.

The option doesn't take two withdrawal or something, it was a 30 year annuity to receive their winnings and historically most winners would take the lump sum though. It's still million of dollars though but there are way too many burden taxes that the winner should get into and he/she most likely get around $300M+ more with this lump sum.

Here's the breakdown regarding this Powerball win: https://www.wfaa.com/amp/article/news/nation-world/after-taxes-how-much-1-billion-powerball-winner-will-actually-take-home/507-f502de8d-54eb-4a77-ab70-524cef136efc.

[tusandii]

-snip-

50% of the winnings are taken by the state  I laugh at this scam every year. If I'm not mistaken, the organizers of the lottery pay significant taxes initially + the winner pays more than half of the taxes, so in total, the state takes 80-90% of the entire prize pool (I don't remember the exact amount). If this is not a scam, then what is it?

There are some people who are lucky by winning the jackpot on the lottery bet and not all of them are taxed excessively by the state which reaches 50%.
Maybe some countries implement a tax system for every gambler who wins big, but only 10% to 20%, not 50% because if touch half the winnings it's not a tax but more appropriate to call it extortion.
In my country there is no such tax system but the prohibition for gambling is set by law regulated, it's just that we as gamblers can still gamble online and secretly without worrying about being found out by the government when gambling on gambling sites crypto.

[Questat]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Yeah, really hard to choose if you are going to get the lump sum or not. But for them, I would go with it, so that there will be no hassle and then you can think ahead what you gonna do with that money.

Because if not, then you will have to wait like every month to get the money and it might take years before you can get all your winnings. And for sure, I think majority here will choose lump sum? Right guys?

Both have its own pros and cons whether they choose to have the lump sum or via installment. But for me, it's much better if I will get the lump sum so that I will not be thinking about what is left and so I can have a proper assessment on what I have to do with it. Besides, 1 Billion dollars is quite a big amount to think but for the winner, that is not the same figure she's getting because taxes are also hefty in US and I guess she will only have a clean 65% of what she won.

[coin-investor]

The amount of money is not only life-changing but for the whole family and generation to come I hope they get a financial adviser if you have this amount of money suddenly you feel like you can buy anything or just about everything we have read lottery winners after a few years losing their fortune because of too much expenditure I hope they will not suffer from that.

The option to have it in a lump sum is understandable many bettors do this its their money and they want to keep up with you never if something along the way happen that you cannot get all the money you've won he wants to secure it maybe invest in real properties stocks or Cryptocurrency.

[knowngunman]

" You stay anonymous until after you claim the money officially. You don't receive the money immediately, people with bad intentions will probably be looking for her today. Hopefully she stays safe, but doing this in public was a very bad decision. "

It was the top comment on the video. And to be honest it was a big mistake to make it public, because surely there would be someone with bad intentions who would harm her. Let's hope we can still hear from this lady, because it was very lucky for her to be able to hit the jackpot with such a big prize.

It's was a bad idea making it publicly while she has not been officially declared but it makes no difference despite the fact because there's no anonymity in the case like this and with time she'll be all over the internet. Besides, People's bad intention towards her will not change anything or divert the rewards to them. I believe she'll not be carried away by not hiring heavy security around her with such a huge amount.

Such amount of money is enough to transform someone's life for better even if you decide to quit gambling but unfortunately people got confused after winning huge amount and think it will continue like that. Perhaps, Living extravagant lifestyle and lack of financial management are the reason majority of them get broke after wining a jackpot.

[iv4n]

$1,080 Billion lotto win! And we (in some threads) discuss why people play the lottery!

Well, this is why people love lotteries... The higher the prize more people are playing, making the prize pool greater and greater. As some of the members said, this guy settled himself and his family for generations. It's always nice to someone hit a huge prize, and of course, we hope that our moment will come as well!

[Yatsan]

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

The half of the total price money that she will receive is still very good and enough to get her a better life and change her life for good if it is not wasted and squandered on liabilities. Even the price money for the mart where the ticket was sold is a good amount for the owners to improve and take their business to the next level. Watching the video and getting more information about the lotto, I like that there is a percentage from the sale of every ticket that is donated to public education, it gives the lotto a little more meaning to me. For the Lady that won, she is extremely lucky.

Well, taxes in some countries are just too high not to mention gambling restrictions and regulation. Accepting half of it will indeed be good but to think of how huge would be deducted on your toal winning is just sad. But yes, it would be better to just be grateful. On the other hand  it won't happen on a daily basis and not once to everyone. Best thing is to think of a way to not use it on things which would consume all of the won prize. A business or investment would be a good choice but best thing to do is to consult a financial advisor in order to put things right. Such thing is also hard to earn in web3 platforms 'coz there are more players on land based lotteries which makes the prize pool bigger.

[alastantiger]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Congratulations to the winner.
I am here hoping that if the there is going to be any public presentation of the prize to the winner, the organization should find a way to make them anonymously - maybe wear a facemask or something.

I like what you have suggested that the winner shouldn't take the prize in one lump sum it is good financial advice, I also hope that the winner has good financial advisors close. He or she needs them now more than ever.

[livingfree]

That's okay if the winner will receive almost half of the total jackpot due to taxes instead of having it on installment plan. Because the value of it will be eaten and lowered down by the inflation over time.

And if there's no announcement yet on who's the winner, I guess it's for the good of that woman if she's claiming she had won. I think that she just got carried over because of her excitement and with such amount, I might not able to control myself as well.

Anyway, this seems to be a year of many lucky winners of jackpots in the lotteries.

[Zlantann]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

This news is just a rumor until it is confirmed by the Powerball lotto. A 50% tax is exploitative, it should be lower in my country. Still, I will not consider installment payments because nothing is certain. Half of the money is enough to settle me and my family for life. But the sad part of this story is usually the winner will blow all the money on extravagant spending. News of the winner buying luxury houses and cars will become the order of the day.  There will be heavy spending on top hotel lodgings, flying private jets, and sailing on private yachts. After a few years they end up selling all they have acquired, become indebted, and end up living miserable lives.

[eaLiTy]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

Is this even true, $1080 Billion jackpot which does not seem true as it is impossible for anyone to giveaway that kind of money as it is impossible to raise that kind of money selling tickets, even if he gets $251 Billion, that person will become the richest person in the world which does not bode well with any fortune as the richest person is Elon Musk who has a wealth of $250 Billion, if it is $1080 million and the ticket seller gets a million dollar as bonus, then it makes sense.

Edit: Its a $1 Billion lottery and not $1080 Billion 

[Casdinyard]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Honestly through and through there's no real merit to getting your money in lump sum rather than receiving it in payment plans. First and foremost the latter ensures that you have consistent cashflow until the whole stuff is paid out, and yeah you also get to avoid more taxes. I saw someone win a $1.2 billion powerball prize, he took it in lump sum and the taxes came up to about $800 million dollars which means he only gets to take $400 million home. Oh well, it's people thinking irrationally in the heat of the moment. Let's just hope and pray whoever won this stupendous amount of money gets to keep it as much as possible you know. Cause there's a tendency for these lottery winners to blow their cash away in just a short amount of time.

[macson]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

i have watched this video and am touched by the victory that this woman got, she used all the luck in her life in just 1 day and won an enormous jackpot, the thing that i highlight is how could she exposed the identity of this woman, she won the lottery and surely she will not be safe and comfortable again when her face is exposed, i'm quite curious about what will happen to her.  i hope she and her family stay safe because the value of her victory really makes people feel great envy, congrats to that woman.

[cryptomaniac_xxx]

I just saw a news on youtube that someone won the $1,080 Billion jackpot prize on the Powerball lotto in the US. In the video I watched, someone claims that she was the winner, but as of now, there is still no official announcement from the lottery organization. also, the store where the winning ticket was bought will receive a $1 Million bonus from the organization.

anyway, it still really surprises me that if the winner decides to take the prize in one lump sum, they will only get half of the total price because of the taxes that will be taken out.

here's the video I saw https://www.youtube.com/watch?v=LINxj6C-00c

Yeah, really hard to choose if you are going to get the lump sum or not. But for them, I would go with it, so that there will be no hassle and then you can think ahead what you gonna do with that money.

Because if not, then you will have to wait like every month to get the money and it might take years before you can get all your winnings. And for sure, I think majority here will choose lump sum? Right guys?

Both have its own pros and cons whether they choose to have the lump sum or via installment. But for me, it's much better if I will get the lump sum so that I will not be thinking about what is left and so I can have a proper assessment on what I have to do with it. Besides, 1 Billion dollars is quite a big amount to think but for the winner, that is not the same figure she's getting because taxes are also hefty in US and I guess she will only have a clean 65% of what she won.

Same here, I wouldn't worry about the tax, still that is a big sum of money to begin with, even if I get 65% of what I won, I will be happy about that. But damn, you really have to be extremely lucky to win that huge amount.

Although here in my country, there's also one winner in our lottery with almost half a billion of our currency. So those guys are really really very fortunate to win that one jackpot that will change their lives forever. Not just for them, if they know how to take care of it, maybe the next generations of their kids will enjoy that money.