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Bengus81

(9,396 posts)

4. It's not even half anymore. I looked when it was 1B and the payout was $453M

Sun Aug 31, 2025, 11:44 AM

Aug 31

I can remember not that long ago it was easy to figure out what you might end up with after the smoke cleared. Figure 1/3rd gone for the lump sum payout and 1/3rd for taxes. It came out pretty close. Not anymore.

Powerball sucks,they still have 3 balls and the PB as a $100 payout---ROFLMAO!! I can remember winning that prize several times in the early 90's when the odds were much,much lower. The payout then...$100. That payout should be at least $250 in 2025 just to keep up with inflation.

I like the new Mega Millions game. It's 5.00 to play but that includes a multiplier of 2x to 10x if you win. I do the online Play On type of buying.

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FarPoint Farmer-Rick Rastapopoulos IbogaProject

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Highlight:

Powerball jackpot grows to $1.1 billion after Saturday drawing ends without a winner [View all] Omaha Steve Aug 31 OP

So if you bought all of the combinations you would spend $300m but win a billion, as long as nobody else has them. twodogsbarking Aug 31 #1

PB tickets are $2.00 each,it would cost $584M to cover all the combinations Bengus81 Aug 31 #5

Correct you are. My mistake. Good catch. twodogsbarking Aug 31 #6

And $1.1 Billion is if one takes the 30 year annuity IbogaProject Sep 2 #13

Stupid question..... FarPoint Aug 31 #2

Taxes still apply Omaha Steve Aug 31 #3

Top federal rate of 37% would apply SickOfTheOnePct Aug 31 #7

Thanks for the correction Omaha Steve Aug 31 #8

But could you get a tax write-off for all the losing tickets? intrepidity Sep 1 #9

Yes...as long as you have the receipts for a calendar year. Big wins wouldn't matter Bengus81 Sep 1 #10

Federal gambling winnings tax rate is a flat 24% IbogaProject Sep 2 #14

It's not even half anymore. I looked when it was 1B and the payout was $453M Bengus81 Aug 31 #4

I wasted six bucks, fingers crossed! Emile Sep 1 #11

Know if you bet twice you are betting against yourself IbogaProject Sep 2 #15

No winner Emile Sep 2 #12