they should tax it right away and show real prize to players, this is not good!

It is income, it is going to be taxed as such. He can also write off his gambling expenses.

nothing new been like this for ages

its still free $$$ in the end

I think it depends on the state. In my state you can will the payouts to other people, but that may not be the case with other places.

I was a teenager when they finally passed the law that allowed a lottery in my state. They sold it as being something that would help the school because they would use the proceeds from the lottery to help fund the schools.

Now they run commercials that show what the lottery money is doing and it includes things like helping a dying business expand, training workers for new jobs and building some trail in the forest. A bunch of stuff that has nothing to do with schools. Meanwhile half the schools in my state can't get the voters to pass their budgets.

Yep, somehow bureaucrats and politicians always find a way to scam money.
Social Security, Schools, Infrastructure...the money never seems to really get there, but ends up in the pockets of politicians cronies everytime.

:2 cents::2 cents::2 cents:

dont forget lottery is already set up by government, they take a chunk out even before the winnings.
my guess they take a higher total % compared to your average slot machine.
however usually the money is spent on something worthwhile, like funding the federal police force :winkwink::winkwink::winkwink:

Let me tell you what I regularly see at local gas/connivence stores … An energy drink, slice of pizza or junk food charged on ebt card then cash spent on powerball or scratch-off tickets.

Fucking pitiful.

.

I can make this answer easy and simple for you

$148,000,000 taken over 25 years vs 53,000,000 taken today

http://investor.gov/tools/calculator...est-calculator

Plug in the $53,000,000

Then put in 4.5% interest paid out 12 times, or once a month. This is the approx payout of a fund such as FCAVX that pays you State and Federally tax free. Yes, NO TAXES ON THE INTEREST GAINED.

Now run that out 25 years and you get:
$162,908,353.99

This fund is ULTRA conservative. So ALWAYS take the lump sum. Stay ULTRA conservative and have approx $2.5 Million Tax Free Income per year and NEVER touch your principle.

And now you know why these people ALL takes the lump sum when being advised by some of the best lawyers and accountants on the planet.

Cash option is smaller because it isn't gaining interest for 20 years...

Even McDonald's 1 million Monopoly prize is paid out over 20 years now I think...

Well there goes that dream. :( lol

hell id take 5 mill :1orglaugh :1orglaugh

Great post :thumbsup

not many winners then ...

ABOLISH ALL LOTTERIES NOW!!!

nothing but a regressive tax on the poor and a cancer on this nation.