$1,080 Billion powerball lotto winner in the USA

[Casdinyard]

$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!

Exactly. It's the prospect of winning big with a small entry fee that gives this people the idea that "their ticket to a life-changing jackpot is just 2 dollars away". Without realizing the fact that it's mostly exploitative cause they feed on the poor people's money rather than the rich ones, and at the same time the possibility of you winning in the lottery is less likely than actually getting struck twice by lightning. This added statistic of unlikeliness is also one of the things that sensationalizes the winnings of a single lottery player, which itself creates a feedback loop of people hoping that they'd get their chance (like you lol) someday, when as a matter of fact it just wouldn't happen at all. So while the lottery is good and all that, You shouldn't really hold on to it every time you make a bet unless you want to be disappointed that is.

[Blitzboy]

If you win a lot of money in the lottery, you're bound to make headlines, right? To determine what is true and what is not, all we can do is examine the surface. The whole affair is nearly comical to watch unfold.

If you win the lottery, you can receive your payout all at once, or spread it out over 29 years. The lump amount is typically roughly 50% of the prize. The announced jackpot is the whole amount you will receive if you select the annuity option; this is the case regardless of taxes. However, taxes are a another issue altogether, and they will consume a sizable portion of your gains irrespective of the path you select.

Its incredible that people still find the lottery fascinating after all these factors have been considered. Something intriguing happens when you weigh the risk of losing one dollar against the infinitesimal possibility of multiplying it by a billion.

[KTChampions]

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.

Cryptocurrencies and the Internet really make it possible to avoid crazy laws, but unfortunately every year we see that regulation is increasing here and there. Such monstrous taxes are a good reminder to all crypto enthusiasts of what we are fighting against and what will happen to us if we lose.

[harizen]

What great luck indeed. As most say and one of the famous statements or quotes regarding the chances of winning the lottery, it's even more chance to get hit by lightning than winning a lottery lol. I can't imagine the feeling of these people who won big starting from what's the real deal and how to manage the winning money.

Surely, those plans prior to winning won't be followed out of excitement holding that kind of huge money.

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.

For sure, most lottery bettors already know the term and are just fine with it once they won.

To them, what matter here is winning that lottery. A half amount as a reward prize is still an imaginary amount that anyone dreams about.

[Quidat]

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

Here even in our country on which lottery winners would only just take home at least 60-70% of the total amount due to taxation or other deductions which do really suck but hitting up those jackpots
and you are in the foot of those winners then you would really be having no choice but to accept your fate and even those deductions are inhuman then you would really be still accepting it because it do
still count as millions. It is really that amazing to see that after a long time on having that 1B usd powerball jackpot had already hit up and those deductions arent really that a shocking thing anymore.
Sometimes i do really have those daydreaming on what if im the one who do able to hit up? The main things in my mind is on buying up some a couple of lambos then some good looking houses
and shopping spree. lol  

[dothebeats]

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 can't really understand the mindset of most lottery winners. If they opted out for installments in 20 or whatever years time it is, they would still get a huge sum every year. If you are not really looking to splurge in the money, you are basically set for life - even for the next generation of your family. The taxes is also really eating out a lot of that prize, too, so the safest and most sensible option really is to get it in installments, and just spend whatever it is that you need to stretch what you receive in a year. I'm pretty sure that the winner will buy cars, expensive items, and houses - emphasis on the houses because most lottery winners think that their money will never run out.

[ethereumhunter]

I think the winner is really the lucky person to get that big prize. And even though the winner can only get half of his total winnings due to taxes, that's also okay because it's still big money that can be hard to come by in the lottery. It will be an unforgettable day for the winner because being a winner in the lottery game requires really high luck and he got it.

The news will make many people even more interested in buying lottery tickets and hoping they can become the next winner. But who is the winner? Can the winner get the money?

[tusandii]

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.

Cryptocurrencies and the Internet really make it possible to avoid crazy laws, but unfortunately every year we see that regulation is increasing here and there. Such monstrous taxes are a good reminder to all crypto enthusiasts of what we are fighting against and what will happen to us if we lose.

Cryptocurrency and crypto-based online gambling is one strong evidence of the rapid development of the internet and technology.
But some countries take advantage of this situation to be able to make money by imposing large taxes.
Although not all countries, but I'm sure that someday there will be tax regulations that don't make sense in each country with policies that might underlie gambling permits and the use of cryptocurrency.

[coin-investor]

If you win a lot of money in the lottery, you're bound to make headlines, right? To determine what is true and what is not, all we can do is examine the surface. The whole affair is nearly comical to watch unfold.

If you win the lottery, you can receive your payout all at once, or spread it out over 29 years. The lump amount is typically roughly 50% of the prize. The announced jackpot is the whole amount you will receive if you select the annuity option; this is the case regardless of taxes. However, taxes are a another issue altogether, and they will consume a sizable portion of your gains irrespective of the path you select.

Its incredible that people still find the lottery fascinating after all these factors have been considered. Something intriguing happens when you weigh the risk of losing one dollar against the infinitesimal possibility of multiplying it by a billion.

You can't take that away from people it will continue to fascinate people as long as there are winners who win millions of dollars they are hoping to be the next jackpot winner the prize is something that they will not have even if they work in office for other whole time so they want to take a shot, they ignore the government cut and and even if you will only receive 50% because you can invest the money or if you have an existing business you can expand it.

The cost of one lottery ticket here in my country is $0.45 to win a potential $500k or more so why not take a shot as long as the drawing is fair there are always winners people will take opportunities to bet in lotteries.

[acroman08]

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.

so, I read the article you shared and correct me if I am wrong. so the lottery winner will automatically only get half the lotto winnings if they choose one lump sum(pre-taxed), and if the lottery winner chose one lump sum, apart from only getting half of the total winning a 24% federal tax will also be deducted to the winnings he got from choosing the half lump sum?

-snip

my bad if it sounded like I am trying to argue, I was actually confused(as explained in my previous post.)

[yahoo62278]

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 don't play it, but if I did and actually won the jackpot I would opt for the payout over the next 20 years so I cannot get it all and get the impulse to start buying everything I see. So many lottery winners go broke fast and it's insane.

[KTChampions]

Cryptocurrencies and the Internet really make it possible to avoid crazy laws, but unfortunately every year we see that regulation is increasing here and there. Such monstrous taxes are a good reminder to all crypto enthusiasts of what we are fighting against and what will happen to us if we lose.

Cryptocurrency and crypto-based online gambling is one strong evidence of the rapid development of the internet and technology.
But some countries take advantage of this situation to be able to make money by imposing large taxes.
Although not all countries, but I'm sure that someday there will be tax regulations that don't make sense in each country with policies that might underlie gambling permits and the use of cryptocurrency.

If gambling is completely decentralized - for example, the entire lottery will be in a smart contract that will be executed in a decentralized environment, then regulators will have a big problem getting to the lucky winners to tax them. And I think that the generation that participates in lotteries where the state takes 80-90% of the money for itself will end very quickly.

[len01]

I'm sure after that there will be a lot of strangers who claim to be his brother, Lol
but I found someone commenting on the video and also I fully support the comment.

here is the comment.


who would have thought that someone who gets the luck of a lifetime with a large amount of the lottery jackpot and a little regrets that this person unconsciously publishes his winnings and it will be very risky for himself because crimes are definitely targeting him.
and on the one hand this victory makes gamblers out there motivated and think that luck is always in the lottery and always trying to buy continuously will be better, but for me it's not.

[Johnyz]

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

It's like returning the money to the government through taxes. 
Anyway, if she's the lucky winner I wonder why exposing herself that much, I wish for her safety and hopefully its a real winner and not just a fake one.
There's a trust issues already in my country with regards to lottery because of there are many winners already in the first half of the year, it looks like an inside job or what.

[danherbias07]

I was a bit shocked with the title because I thought it will be like 1 Trillion. So, it is $1.08 Billion to be precise.
And here is the article about it for those who don't like going to Youtube which OP has provided.
https://news.yahoo.com/powerball-winning-numbers-revealed-estimated-030302421.html

That's a lot of money.
I would not even know what to do if I am the winner of that kind of amount or it might just give me a heart attack. That guy will probably live the rest of his life in super luxurious things and would probably just invest in popular assets to keep the money safe. I am a bit jealous but when you think about it, it's also scary to have that large amount since evil intents will also be in the shadows.

[Fivestar4everMVP]

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

seems like the classic historical dilemma in lottery sauce   better an egg today or a chicken tomorrow?

if you think about it, such a figure even if "half" is enough to make you at least the top 1% richest on earth and live at "science fiction" levels.
I too would have done the same thing, as we say here in Italy "there is no certainty about tomorrow"

You are very right mate, in-fact, I am still short of the right words to really explain how I feel about such an amount of winning, its really unbelievable to say the least, and for having to receive half of the total amount if the winner decides to collect the prize money all at once, I would say that even the half is still much more than a decent amount, though I don't know how much the winner must have spent before winning this amount, but if I was she, I don't mind even if the company say the only amount they be able to pay me at once is $200 million dollars after removing tax and all that, i still will happy with it, such an amount is more than enough for a person like me to live a happy and fulfilling life anywhere in the world.

[maydna]

Winning a lot of money in the lottery game is the dream of many people, but only really lucky people can win it. Others can only watch and decide to keep buying lottery tickets even though winning the lottery takes a long time. Even though his winnings will be deducted from taxes, he still earns a lot of money, and it has exceeded his expectations, and only very lucky people can get it. But the unfortunate thing about the show is that the winner shows himself in public where people can see him. At least, that's what I read from the comments.

[Eternad]

Winning a lot of money in the lottery game is the dream of many people, but only really lucky people can win it. Others can only watch and decide to keep buying lottery tickets even though winning the lottery takes a long time. Even though his winnings will be deducted from taxes, he still earns a lot of money, and it has exceeded his expectations, and only very lucky people can get it. But the unfortunate thing about the show is that the winner shows himself in public where people can see him. At least, that's what I read from the comments.

Elon is known Billionaire, I think that he can still manage to be safe after revealing the winner’s identity since he will still need the extra security even if he claim the reward privately because the people behind the lottery knew well his personal information.

Everyone that participates in lottery knew well about the tax. There’s no sad thing about it and you’re right that winning even fraction of the total prize is still an extraordinary thing to happened on a person entire life.

[FanEagle]

Seriously wrong line of thinking at the very start let alone anything else, I can't believe that people even start thinking about that this would be something alright. I have hard time managing money I will just pass along, let alone use someone else's money. Due to my old job 10 years ago, I would have to carry thousands and thousands of dollars from one place to another, not really a big road, just like 500 meters, that's it.

I would still have cold sweats when I faced that and it's really not a good thing to my heart, I would stress so much, finally quit it and living a much relax life right now, health issues still happens but at least no stress. Now you can understand why I would find this type of thing too risky and wouldn't do it.

[dothebeats]

Seriously wrong line of thinking at the very start let alone anything else, I can't believe that people even start thinking about that this would be something alright. I have hard time managing money I will just pass along, let alone use someone else's money. Due to my old job 10 years ago, I would have to carry thousands and thousands of dollars from one place to another, not really a big road, just like 500 meters, that's it.

I would still have cold sweats when I faced that and it's really not a good thing to my heart, I would stress so much, finally quit it and living a much relax life right now, health issues still happens but at least no stress. Now you can understand why I would find this type of thing too risky and wouldn't do it.

Yours is a different scenario, though. You are handling someone else's money on their behalf, whereas those winners handle their own. They think that their money wouldn't run out, while in reality it drains much faster because they are focusing much on their wants and not really their needs. They tend to splurge and buy everything that they think they need and not get the assistance of a financial adviser. Honestly, I wouldn't be able to handle that much money too, and would rather have it kept in the bank and just get me something that I need. Or in a lottery win, just get it in installments and live comfortably and humbly.