Casino Gambling Tips and Information
The facsimile check from the Maryland Lottery to a winner for $100K, pictured above. The same lucky player, Chicklet, won $11K at a casino just hours before purchasing the lottery ticket. (Image: Maryland Lottery)
The first payout wasn’t enough for the would-be double winner, [Read more…] about Two Huge Jackpots Within Hours For Maryland Woman Wins Lottery And At Casino
The provider of eInstant games for lotteries, Instant Win Gaming (IWG), confirmed that since the start of the year, multiple record progressive jackpot prizes were awarded. The company said in a statement released Thursday that the Virginia Lottery, the New Hampshire Lottery, as well as the Michigan Lottery, had a stellar start of the year, awarding record-setting progressive jackpot prizes for the first two months of 2023. [Read more…] about IWG’s eInstant Progressive Jackpots Award Record Prizes
The prize was claimed on February 15 by a man named Edwin Castro. The California Lottery said Castro declined the opportunity to participate in publicity and wished to remain private.
An Altadena, Calif. man claims [Read more…] about Powerball Ticket Stolen from ‘Rightful’ Winner, $2.04B Lawsuit Claims
The Mega Millions winner of the $1.35 billion jackpot hit on Jan. 13 has come forward in Maine, but they’re utilizing a newly formed limited liability company (LLC) to limit their public exposure.Hometown Gas & Grill owner Fred Cotreau poses for a photograph after his Mobil gas station sold a $1.35 billion Mega Millions ticket in January 2023. The lucky winner claimed his or her prize this week through an LLC. (Image: Reuters)
The January 2023 drawing was only the fourth time in Mega Millions history that the game’s jackpot was upwards of [Read more…] about $1.35B Mega Millions Winner Comes Forward in Maine, Picks One-Time Cash Option
After 40 consecutive drawings without a jackpot winner, Powerball’s November 7 drawing offered up a prize north of $2 billion. The winning numbers that night were 10-33-41-47-56 and red Powerball 10.
The Multi-State Lottery Association (MUSL), which operates Powerball for the lottery game’s 48 participating jurisdictions, soon after announced that a single ticket had matched all six numbers to claim the $2.04 billion prize.
California lottery rules require that winners allow their identities to be made public and the retail location of where their ticket was purchased to be known. California mandates that winners’ identities be disclosed to maintain public trust in the lottery system.
[Read more…] about $2B Powerball Winner Identity Revealed, California Man Skips Lottery Celebration
A lucky lottery player in Washington matched all six numbers from the Monday draw to win the Powerball jackpot that has been eluding players since November. [Read more…] about Powerball Ticket Sold In Washington Won $754.6m Jackpot
A lucky Powerball player in Washington state won a life-changing fortune on Monday night — a $754.6 million pre-tax jackpot.
Powerball’s winning numbers for its February 6 drawing were 5, 11, 22, 23, 69, and the red Powerball 7. The Power Play multiplier was 2x.
Powerball officials reported after the drawing that one ticket matched the six winning numbers. The ticket was purchased in Washington. But the lottery didn’t immediately detail where the lucky numbers were purchased.
Monday night’s win wraps up a streak of 33 consecutive drawings without a jackpot winner. The lucky winner will have to choose between taking the full value of the jackpot paid out over a 30-year annuity, or opting for a one-time lump cash sum of $407.2 million.
After federal taxes, the total values of the disbursement options would be about $476.5 million and $256.5 million.
The jackpot cracked the country’s top 10 largest lottery list, and the top five among Powerball’s richest prizes. Along with the jackpot, five tickets matched all five white balls, but not the red Powerball for the game’s second-best prize of $1 million. One of those tickets purchased the $1 optional Megaplier to double their win to $2 million.
If the Washington player decides to take the full value of the jackpot over 30 years, the US government will take about $9.2 million from the annual disbursement through the feds’ effective 37% income tax on the nation’s highest earners.
The 30 payments would come to roughly $15.8 million. If the player chooses the cash option, the feds will take their 37% to reduce the prize by approximately $150.6 million.
Higher interest rates have allowed lottery officials to advertise more robust jackpots than they otherwise would be able to market. Powerball and Mega Millions base their advertised jackpots on the 30-year annuity payout.
With those annuities invested in bonds backed by the US Treasury and those savings vehicles dependent on the Federal Reserve interest benchmark, the full 30-year values have soared since the feds increased rates from nearly zero to almost 5% over the past 12 months.
Monday night’s jackpot winner didn’t only overcome the seemingly unimaginable odds of one in 292.5 million — their good fortune also extended to where they purchased the ticket. Washington is one of only nine states that doesn’t consider lottery winnings as taxable income.
Most states do, and the average state income tax for 2023 is about 5% in taxing states. If Powerball’s newest jackpot winner picks the cash option, Washington’s tax-free lottery law will save the winner about $20 million.
Choosing the payout option is becoming more difficult, with interest rates continuing to rise. Historically, most Powerball and Mega Millions jackpot winners have opted for the cash option, as investing such riches in the stock market and retirement accounts have outpaced the federal interest rate. But with the federal benchmark at its highest level since September 2007, the annuity is becoming more attractive.
Whoever the winner is, Washington does require that lottery winners allow their identities to be made public.
The post Single Powerball Ticket Wins $754.6M Jackpot, Ninth-Largest Lottery Prize in US appeared first on Casino.org.
Rephrased by The Mystic Gambler
Learn, Practice and Play Real Video Poker For Free – Free Training Program
