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I think it's fun to play as long as you don't have a gambling addiction. People who want to talk themselves out of playing the lottery is folly. People are going to play and the one person that wins could care less about what you think. In terms of the owner of store donating their cut. Whateva. Their slot in heaven is assured. Maybe.
If the winner resided in NY or NJ, they are due instantly for the taxes where it was bought or the person was domicile if purchased remotely. So billionaire no more after taxes.
I think they're fun. I'd always take the lump sum because i'm old
We only spend a couple dollars here and there, and it's exciting. (Yes i know the chances of winning are slim.) I used to go to Atlantic City and barely gamble.
If people have a gambling problem then no, they shouldn't play. But people have to TRY to be responsible.
Some of the money goes to good programs.
I have no problem with people who feel this way, and generally speaking no problem with cities, counties, states and regions sponsoring lotteries to raise money for social needs. But there is a point at which government should not be so wildly encouraging something that used to be considered a vice and is still strongly regulated in many areas. And something that is in fact a dangerous addiction for some.
The more I think about this the more it really bothers me. It's one thing for Las Vegas and Coca Cola to give America its tawdry reputation around the world. But for our own government to hop into the fray and take advantage of the citizenry in this ever more extreme way, it just is appalling. If they can't be kept to some kind of rational level I'd rather see them gone entirely.
If this thread were about someone winning a billion-dollar payout at Atlantic City, it wouldn't bother me a jot. It's the government-sponsored nature of this that turns my stomach.
I don’t think they should be banned entirely, but holy moly there should be caps on them! There is no reason whatsoever for them to work this way, with one pot expanding and expanding obscenely, enticing millions of people to throw good money after bad chasing a dream. They should put in rules so that once a pot reaches, say, 50 million or so, keep selling tickets but split the winnings so that more people have chances to win. It’s just obscene and harmful to create these hideously bloated pots (like 50 million isn’t hideously bloated enough!) again and again. It truly makes me ill! There has got to be a better way to manage these things that benefits society a bit more.
Las Vegas influence is just destructive enough when kept to the desert.
Split the winnings how? Only one person had the right numbers, so who are they splitting it with? If multiple persons have the winning numbers, they will split it.
If the winner resided in NY or NJ, they are due instantly for the taxes where it was bought or the person was domicile if purchased remotely. So billionaire no more after taxes.
They have to pay the tax in every state, don't they? I'm just grateful NJ is one of a handful of states that allow you to remain anonymous.
I think it's fun to play as long as you don't have a gambling addiction. People who want to talk themselves out of playing the lottery is folly. People are going to play and the one person that wins could care less about what you think. In terms of the owner of store donating their cut. Whateva. Their slot in heaven is assured. Maybe.
I think it's destiny if you win, so I only buy one ticket. I don't buy Power Ball or Mega Millions though, the odds are so much higher than NJ Pick 6. Pick 6 odds are1 in 9,366,819, with a 2 million dollar jackpot. Odds for Mega Millions is 1 in 302,575,350.
2 millions is fine with me, even after taxes. Half a billion turns your entire life on it's head, results in family rifts, damaged friendships, need for 24/7 security, etc, etc. 2 million you can keep quiet and live your life.
Just read an article on how they calculate the cash amount and why there are so many bigger jackpots recently. It is all because of high interest rates. Right now it takes about 48% of the cash equivalent to pay off the 29 or 30 year annuity with a 4.3% 30 year fed rate. 4 years ago it took around 75% at the 1.1%, so
2024: $500M cash is advertised as $1.04B
2021: $500M cash is advertised as $667M
If the winner resided in NY or NJ, they are due instantly for the taxes where it was bought or the person was domicile if purchased remotely. So billionaire no more after taxes.
what bothers me is if you are a NJ resident and you bought a winning ticket in NYC, you are responsible for NYS AND NYC tax!!!! So ~6% more down the drain
Split the winnings how? Only one person had the right numbers, so who are they splitting it with? If multiple persons have the winning numbers, they will split it.
Based on the information in the post quoted below, I may be changing my stance a little bit...
Quote:
Originally Posted by sonofagunk
Just read an article on how they calculate the cash amount and why there are so many bigger jackpots recently. It is all because of high interest rates. Right now it takes about 48% of the cash equivalent to pay off the 29 or 30 year annuity with a 4.3% 30 year fed rate. 4 years ago it took around 75% at the 1.1%, so 2024: $500M cash is advertised as $1.04B
2021: $500M cash is advertised as $667M
Aahhh, see, now this I didn't know! And I'll bet the poor citizens don't either. That same powerball ticket you didn't buy 2021 because the prize was "only" $667M but was SOO enticing in 2024 when it crossed $1B was actually for the SAME EXACT $500M cash prize. Wow. Talk about fine print!
Given that this is the case, my earlier rant becomes slightly softened but not entirely moot. Now my anger is directed at the marketing department that highlights the fantasy of untold riches based on a long-term scenario that almost no one selects.
But back to the top:
Quote:
Originally Posted by ocnjgirl
Split the winnings how? Only one person had the right numbers, so who are they splitting it with? If multiple persons have the winning numbers, they will split it.
Once a cash pot gets to be $500M the could split the whole thing and draw five or ten winning numbers, make it five or ten winning pots. Or even better for society: Maybe say that it hits a certain level, split it into 10 and give 2 shares to the state (or whatever sponsoring municipality/region it is) and create 8 new pots with existing tickets. Those 8 are drawn and winners are selected, yay, and if no winners the cycle starts again, etc. More and more people win, and the sponsors get more and more of the money. And no one gets obscene pots--and we don't have to pretend anyone is EVER going to be a billionaire on their fellow citizens' hard-earned cash.
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Their slot in heaven is assured. Maybe.
