Lotto jackpot hits 1.6 billion

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Lotto jackpot hits 1.6 billion

Postby oldtrucker » Oct 20th, 2018, 12:26 pm

1.6 billion. That's 1600 million dollars. Think about that...what would you do with it if you won that kind of cash? You are bigger than some smaller countries entire economy.
I'm sure that there are a few Canadians making their way south to nab some lotto tickets.
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Re: Lotto jackpot hits 1.6 billion

Postby Catsumi » Oct 20th, 2018, 5:16 pm

I won!! I won!!


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Re: Lotto jackpot hits 1.6 billion

Postby seewood » Oct 20th, 2018, 6:10 pm

If it was in Canada, all that would be tax free... say 5% interest then 80 mil a year in interest revenue. In Canada, 50% tax bracket so after tax income of 40 mil a year. 365 days... $ 109,589.00 per day after tax...

I believe with these lotteries, one has a choice of so much a year to the 1.6 billion, maybe 20 years? or a cash payout of a sum much less than the 1.6 Billion.
Regardless a stupid amount of money.

Our lotto max with 60 mil on the line is something like $4100 a day after tax at 5% return.

I could get a brand new spandex bike riding costume. :biggrin:
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Re: Lotto jackpot hits 1.6 billion

Postby oneh2obabe » Oct 20th, 2018, 6:54 pm

Nice to dream but 1) plan on staying in the US until the draw is held or 2) rent a locker or mailbox somewhere and stash the ticket. Sounds bizarre but there is a little known law prohibiting someone from purchasing a US lottery ticket and taking it out of the country.

What are the Tax & Legal Rules for Canadians who Play U.S. Lotteries?
Taking Your Lottery Ticket Outside the U.S.: An obscure U.S. law that prohibits entering the United States with a lottery ticket has been getting a lot of attention lately among Canadian would-be Powerball players

Technically, it is illegal to enter the United States with a lottery ticket, which means that Canadians who purchase Powerball tickets in the U.S., bring them to Canada and then try to re-enter the U.S. with their tickets could be committing an illegal act and have their tickets seized, which in fact has happened – although the lottery tickets were eventually returned to the purchaser.

The law reads as follows: "all persons are prohibited from importing into the United States from any foreign country any … lottery ticket, or any printed paper that may be used as a lottery ticket, or any advertisement of any lottery."

The only exemption applies to “any lottery ticket, printed paper that may be used as a lottery ticket, or advertisement of any lottery, that is printed in Canada for use in connection with a lottery conducted in the United States.” Unfortunately, this exemption would not apply, as Powerball tickets are printed in the U.S., not Canada. ... -lotteries
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Re: Lotto jackpot hits 1.6 billion

Postby Bsuds » Oct 20th, 2018, 7:00 pm

We are going to be down there next week so I will buy a ticket and let you know what happens when I win. :biggrin:
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Re: Lotto jackpot hits 1.6 billion

Postby LTD » Oct 22nd, 2018, 8:54 am

will be pretty disappointing when you realize you have to be a U S resident to win [icon_lol2.gif]
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