Canadians : January 24 Estitmated- $43,000,000 Buy Your 649
 

:thumbsup
I know our lotteries arent as hardcore as the US but $43 mills
is pretty good for us :) Get your tickets today

thanks for the reminder!

Canada doesn't tax lottery winnings, either, so it's actually $43 million you get.

SHRUG

$163.2 Million Powerball Jackpot Won in Indiana

(Powerball) One lucky ticket in Indiana matched all 6 numbers on Saturday, January 17th and walked away with the $163.2 million jackpot. The holder of the winning ticket will now have to decide to either take the 29-year, 30-installment annuity, or the one time cash “lump sum” amount of $97,966,541.

Of that 98 million, would he even walk with the 43 million clear that the Canadian one is? Here lottery winnings are tax free.

We don't have the same jackpots as in the states but we don't have the same population buying tickets. Canuks also get the full amount, no settlement and no tax.

I have my ticket!

Thanks im going to have to get a few tickets now :)

Yeah, 100% tax free is great... if you can get it.

i sale winning tickets

thanks webgurl i will buy a ticket just for shits and giggles

Gonna get my parents to pick me up a few. :)

If I win, I'll give you a mil.

That powerball winner will be lucky to come away with close to half of the 97 mill after it's taxed I'd wager.

Going by population alone, a $43 million jackpot is roughly 10 million more than our entire population. The USA would have to have a jackpot over $300 million to compare, then up it enough to allow for taxes.

No, Canada rocks for the tax free win thing. I've always said the tax man has no business putting their grubby little mitts on a person's winnings, and have never understood why Americans put up with it. Even on game shows, tax tax tax. Ug. If you win it, you should win it all. Like in Canada. :D

I'll be buying a few tickets later today.

i'm going to get the winning ticket now :thumbsup:thumbsup:thumbsup

you can win :)

THANKS will get a ticket right now:thumbsup

Thats not actually correct.
the taxes are removed from the lottery commision and province before you get paid.
Same at the horse tracks etc.
You think the Canadian GVt would give you something tax free.
If the pot is 43 million they would take in near 70 in sales.

If I win, I'll buy you something nice webgurl.

I sale 10 same ones, cause drama and then no one gets paid

i have been appointed to collect the taxes on the winnings. thanks

actually no. Yes, they do not tax the winnings, but we do not get the full # they mention. In this case, 43 000 000 the way it works is as follows.

---------------------------

Number of Matches

Win

Odds of Winning
(approximate)
6/6

80.5 % of the Pools Fund - 1 in 13,983,816

5/6 + Bonus

5.75 % of the Pools Fund - 1 in 2,330,636

5/6

4.75 % of the Pools Fund - 1 in 55,492

4/6

9 % of the Pools Fund - 1 in 1,033

3/6

$10 prize - 1 in 57

2/6 + Bonus

$5 prize - 1 in 81

Any prize

1 in 32

A winning set of numbers entitles a winner to a prize in only one of the above prize categories.

47% of LOTTO 6/49 draw sales is dedicated to the Prize Fund. The total amount of $5 and $10 prizes are paid from the Prize Fund and the balance of the fund (the Pools Fund) is then allocated between the 4/6, 5/6, 5/6 + Bonus and 6/6 prize categories as indicated in the table above. Any amount not won in the 6/6 or 5/6 + Bonus prize categories is added to the 6/6 Jackpot prize for the next draw.

If a Jackpot of $30 million or higher is not won, the following Prize Structure applies to all subsequent draws until the Jackpot has been won. This does not apply to Bonus Jackpots.


Number of Matches

Win

Odds of Winning
(approximate)

6/6

40 % of the Pools Fund - 1 in 13,983,816

5/6 + Bonus
16 % of the Pools Fund - 1 in 2,330,636

5/6

15 % of the Pools Fund - 1 in 55,492

4/6

29 % of the Pools Fund - 1 in 1,033

3/6

$10 prize - 1 in 57

2/6 + Bonus

$5 prize - 1 in 81

Any prize

1 in 32

A winning set of numbers entitles a winner to a prize in only one of the above prize categories.

The prize pool for LOTTO 6/49 is based on a pari-mutuel share. A pari-mutuel share is a calculation where the total monies allocated to a prize category are divided by the total number of winners in that category. Sometimes, customers select certain number combinations more often than other number combinations, and this may result in a reduced prize share. Some of the more popular combinations are based on sequence of numbers, vertical, horizontal or diagonal lines on selection slips, multiples of numbers, variations of historic dates or birth dates, etc. These combinations vary from draw to draw and change depending on customer play patterns

LOTTO 6/49 prizes must be claimed within 12 months of the draw date.

LOTTO 6/49 winning tickets may be redeemed only in the province where they were purchased.

Download the official LOTTO 6/49 Game Conditions. Download the official Interprovincial Lottery Corporation Rules and Regulations Respecting Lotteries and Lottery Tickets. While efforts are made to ensure that the rules are accurate and up to date, the game condition cannot always reflect changes. The Interprovincial Lottery Corporation (ILC) reserves the right to change these game conditions, with or without notice and at such times and in such manner as ILC deems appropriate.

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http://www.olg.ca/lotteries/games/ho...?game=lotto649

I never got the "ooh, the lottery jackpot is really high, I should buy a ticket this time" philosophy...

Are you saying that the $7 million payout isn't good enough for you? The jackpot has to be at $43 million for it to be worth your time buying a ticket?

$7 000 000 would be plenty.. Hell, just winning would be a surprise. haha. I barely ever buy lotto tickets and won't this time around either.

Exactly, especially since there's millions more tickets being purchased because of it. Your odds get worse and if you do win, you'll be splitting it a lot more ways.

yah that's exactly what i am saying 7mills isnt good enough :winkwink:

I would normally say that only greedy people take the lump sum, but with some quick calcs it does seem that if you managed your money properly you could probably earn interest near or the same amount per year as if you were on the long term payment plan, and as a bonus it continues after the 30 years is up... plus you still have your $97m!

10:1 that he blows the lot within 10 years though

lump sum for sure.. you're going to die anyway.. have some fun

If memory serves - the tax free factor was the reason 'Lets Make a Deal' gameshow relocated to Canada several years ago.

it's why the guvment calls it the "idiot" tax ..lol..I know ppl who religiously buy tix and never win...yet they live in holes and have deadend jobs...

$43 mill would be pretty sweet tho! :)

Pssst, you're a programmer... Your odds of picking 6 out of 6 numbers do not change with the millions more tickets being purchased :winkwink:

You are correct though, your chances of splitting the prize pool are higher.

Do tickets in your neck of the woods get charged a commission? I've bought a couple of lottery tickets (my wife also has the "big win $ / special, must buy" mentality) and there's a commission listed on the ticket.

I don't know if winnings are taxed in Australia, but the govt commission is already "taxing" us when we buy...

Go play biches you have 45 minutes left.. :thumbsup