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Florida Lottery Fever: $803M Mega Millions Jackpot Leads Month of Big Wins
us-news1 month ago

Florida Lottery Fever: $803M Mega Millions Jackpot Leads Month of Big Wins

Florida is riding a lottery windfall, led by an $803 million Mega Millions jackpot won in Bradenton (cash option about $344 million), a $6 million Florida Lotto prize in Lakeland, and several $1 million Powerball prizes across the state. The winning tickets were sold at a Wawa in Bradenton and at 3B’s Sunoco in Lakeland, among others; Florida law requires prize winners’ names to be public, though there is a 90‑day temporary exemption for large prizes before records are released.

via Sarasota Herald-Tribune|
#florida#lottery#mega-millions
Powerball $748M windfall: advisers urge winners to plan and stay discreet
business2 months ago

Powerball $748M windfall: advisers urge winners to plan and stay discreet

With Powerball climbing to $748 million, financial advisers say winners should stay quiet, secure the ticket, hire a tax attorney/accountant and a financial adviser, and map out a payout strategy (lump sum vs. annuity) while navigating federal/state taxes and multi-state rules; initial steps include depositing funds in a brokerage and investing in short-term Treasuries to wait for a solid investing plan, all while guarding against scams and requests from friends or family.

via USA Today|
#business#financial-planning#lottery
Three California Powerball Tickets Hit About $800K Each
local2 months ago

Three California Powerball Tickets Hit About $800K Each

Three California Powerball tickets sold over the weekend were worth up to $809,204 each, with one near West Los Angeles-Sawtelle, another at a Pleasanton Shell, and a third at La Buena Market in Fresno County. The Aug. 1 drawing produced numbers 6, 17, 27, 48, 50 with Powerball 5, while the jackpot stood at $707 million; the next drawing is about $748 million. The article also notes that winnings are subject to taxes and explains lump-sum vs. annuity payout options and how they affect take-home amounts.

via FOX 11 Los Angeles|
#california#local#lottery
California Powerball Winners Take Six-Figure Prizes as Jackpot Climbs to $748 Million
finance2 months ago

California Powerball Winners Take Six-Figure Prizes as Jackpot Climbs to $748 Million

Three California tickets matched five numbers but not the Powerball in Saturday’s drawing, each winning $809,204; the winning tickets were sold at a Shell in Pleasanton (6750 Santa Rita Rd), a Chevron in Los Angeles (11951 W. Olympic Blvd), and La Buena Market in Reedley (221 E. Helen Ave). The Powerball jackpot rose to an estimated $748 million (cash value about $325 million) for the next drawing on Aug. 3, with more than 1.3 million other US tickets winning prizes and more than 160,000 in California. The numbers drawn were 6, 17, 27, 48, 50 and Powerball 5, with a Power Play of 3x. If gambling is affecting you, resources are available from the National Council on Problem Gambling.

via Sacramento Bee|
#california#finance#jackpot
Powerball Jackpot Reaches $1.3 Billion After No Winner in Labor Day Drawing
lottery1 year ago

Powerball Jackpot Reaches $1.3 Billion After No Winner in Labor Day Drawing

The Powerball jackpot has risen to $1.3 billion after no winner was found in Monday's drawing, making it the largest lottery prize since April 2024. The winner can choose between a lump sum of approximately $589 million or annual payments totaling $1.3 billion, with taxes significantly reducing the take-home amount. The odds of winning are 1 in 292.2 million, and the next drawing is scheduled for Wednesday, with the jackpot potentially surpassing this year's biggest prize.

via Forbes|
#jackpot#lottery#powerball
Mega Millions Jackpot Soars Over $600M: Winning Numbers Revealed
finance1 year ago

Mega Millions Jackpot Soars Over $600M: Winning Numbers Revealed

The Mega Millions jackpot has reached an estimated $619 million, making it the 10th-largest in the lottery's history. A winner can choose between a 30-year annuity or a $297.7 million lump sum, which would be reduced to $226.2 million after a 24% federal tax withholding. Depending on the winner's taxable income, the amount could further decrease to $187.5 million with a 37% federal tax rate. State taxes may also apply, varying from 2.5% to 10.9%, except in states like California and Texas, which do not tax lottery winnings.

via Forbes|
#finance#jackpot#lottery
"Oregon Resident Hits $1.3 Billion Powerball Jackpot"
lottery2 years ago

"Oregon Resident Hits $1.3 Billion Powerball Jackpot"

A Powerball player in Oregon won a jackpot worth over $1.3 billion, ending a winless streak of over three months. The single ticket matched all six numbers drawn, with a cash value of $621 million if the winner chooses a lump sum. The prize, subject to federal and state taxes, marks the eighth largest in U.S. lottery history, with the drawing delayed for over three hours due to verification procedures.

via KATU|
#jackpot#lottery#oregon
"Oregon Ticket Holder Claims $1.326 Billion Powerball Jackpot"
lottery2 years ago

"Oregon Ticket Holder Claims $1.326 Billion Powerball Jackpot"

A single Powerball ticket sold in Oregon matched all six numbers for the $1.326 billion jackpot after Saturday night's drawing was delayed due to "pre-draw procedures." The jackpot has a cash value of $621 million, and the drawing produced more than 4.5 million winning tickets, including seven tickets that matched all five white balls to win $1 million prizes. This marks the 41st consecutive drawing without a winner, tying a record set twice before in 2022 and 2021, and the jackpot is the eighth largest in U.S. lottery history.

via CBS News|
#jackpot#lottery#oregon
"North Carolina Residents Score Big with Multiple Lottery Jackpot Wins"
human-interest2 years ago

"North Carolina Residents Score Big with Multiple Lottery Jackpot Wins"

John Bubba of Buncombe County, North Carolina, won a $216,523 Cash 5 jackpot after matching all five white balls in the April 1 drawing. After tax withholdings, he took home $154,815 and plans to pay off his house and share the winnings with his adult children. Bubba hopes the jackpot will benefit his whole family, and the Cash 5 game in North Carolina offers players the option of buying tickets at retail locations or through online play.

via WYFF4 Greenville|
#family#human-interest#jackpot
"Tax Implications of Sports Betting and Gambling Winnings in the U.S."
finance2 years ago

"Tax Implications of Sports Betting and Gambling Winnings in the U.S."

If you're betting on the Super Bowl, be aware that nearly half of your winnings could be owed as taxes, including state taxes. All gambling winnings are considered taxable income by the IRS, and it's important to track and report your winnings and losses. While you can deduct gambling losses, most taxpayers don't itemize deductions, making it unlikely to claim them. Failing to report gambling winnings can result in penalties and potential legal consequences, so it's crucial to comply with tax regulations.

via CNBC|
#finance#gambling#irs
Unclaimed $44M Florida Lotto Ticket: What Happens to the Money?
lottery2 years ago

Unclaimed $44M Florida Lotto Ticket: What Happens to the Money?

A $44 million Florida lottery ticket remains unclaimed after months of searching and failed attempts to find the winner. The winning ticket was sold at a Sunoco Express gas station in Kissimmee, near Walt Disney World Resort. The owner of the gas station put up posters announcing the winning ticket, but no one has come forward to claim the prize. Unclaimed jackpots are rare, and the money will now go back to the state, with 80% being used for education programs. The lottery appeals to those who have lost faith in the traditional economic ladder but still dream of striking it rich.

via USA TODAY|
#florida#lottery#lotto
Lucky Washington Woman Hits Jackpot on Birthday
lottery2 years ago

Lucky Washington Woman Hits Jackpot on Birthday

A woman in Washington state celebrated her birthday by winning $150,000 in the "Hit 5" lottery game. She purchased two tickets with randomly generated numbers and discovered her win the next day. The lucky winner plans to use the money to pay bills and spoil her dog. Washington's Lottery has generated over $5 billion to support state programs, including college tuition assistance and early childhood education.

via Fox Business|
#birthday#lottery#prize