no you don't
PowerBall to be $1.3 BILLION
- Thread starter Clipsey
- Start date
no you don't
Then uses the money to buy one of Trump's properties whilst disguising it through other companies and demolish it via a live web stream.
The payout is normally over 30 years or something, not too bad. Either way of getting your winnings is taxed and on such a large amount the tax is basically going to be the same. Lottery winnings are treated like any other capital gain and are taxed accordingly. No idea why the UK doesn't tax lottery wins, seems like a giant loop hole, e.g. you could Christmas bonuses out as a lottery system that has ridiculously easy odds of winning and each employee has multiple chances to enter, until they win.
Someone told me that and I have never bothered to verify it.
it seems the tickets do have to be purchased in person... but there is a company that will do it for you:
https://www.thelotter.com/lottery-tickets/usa-powerball/?player=0
https://www.thelotter.com/lottery-tickets/usa-powerball/?player=0
they tax the ticket sales before the prize pool is accumulated - much simpler
nope - lotteries need to be licensed
Soldato
- Joined
- 27 Jan 2012
- Posts
- 8,119
- Location
- The king of the north!
Whilst i would not complain at all ever if i won even a tiny ammount on the lotto,
the tax is abysmal, i think it would be a nicer idea simply to advertise the winnings you would receive and not the winnings they are going to leech from.
Not like people would stop buying tickets because the jackpot was 800m instead of 1.3b
Insanity
the tax is abysmal, i think it would be a nicer idea simply to advertise the winnings you would receive and not the winnings they are going to leech from.
Not like people would stop buying tickets because the jackpot was 800m instead of 1.3b
Insanity
I'd like the option to pay via Paypal rather than my card.
the winnings you recieve depend on where you live - different states tax it differently, you can also complicate things by buying it in a different state to the one you live in
you can further complicate things by buying it as a foreigner... I think that as a UK resident *if* you bought it in a state that doesn't tax lottery winnings you might be able to get away with not paying tax - you ought to be exempt from federal tax as the UK has a tax treaty and as the UK doesn't tax gambling winnings you'd be able to avoid tax here too
Soldato
- Joined
- 27 Jan 2012
- Posts
- 8,119
- Location
- The king of the north!
Jesus, how complicated does this **** have to be haha! One of the many reasons i don't gamble
(much)How'd ya do that bud ?
Soldato
- Joined
- 7 Aug 2012
- Posts
- 2,652
I had a free ticket for yesterdays via Lottoland and it was quoting £550 million and it rolled over, so it must be more than 300 odd million.
Edit: It is £895 million now!
it isn't really - 895 million is if you take the 30 annual payments
Probably been answered but there is no tax on lottery winnings.
At least on the UK lottery there isnt
Did anyone win last nights ~£65 million lotto draw? I played last night for the first time in about 5 years. Got twonumber on one line so entered into wednesday draw
Yeah it's only £555m if taking the lump sum, ~£333m after taxes.
Soldato
- Joined
- 7 Aug 2012
- Posts
- 2,652
You wont pay any tax if you happen to be a uk based player playing via Lottoland.
https://www.lottoland.co.uk/powerball/help
Are my winnings tax free?
You will not be taxed on any winnings for this lottery.
I don't think you are actually playing the lottery, but rather betting on the outcome (if that makes sense). It says that they are insured so that they are able to make the payout.
Last edited:
