27
Nov 12

$425m Powerball Jackpot Fever Grabs the US

Powerball NewsThe US is gripped by Powerball fever after the jackpot reaches an estimated $425m for the draw on Wednesday, November 28 2012, currently the largest US Powerball jackpot in the history of the game and second only to the largest in US history earlier this year, $656m Mega Millions.  Not surprisingly demand for tickets is high and it is likely to increase in the next day and hours before ticket sales close.

Jackpot expected to swell

It is highly likely that a flurry of tickets sales will cause the jackpot to swell. The current US record was reached when $363m rolled over and a flurry of ticket sales caused it to swell to $656m. It’s possible, in fact more than likely that if it’s not won at the next draw the next jackpot will break through £500m barrier, that’s half of one billion.

Ticket machine problems

The extra demand for tickets will have an impact on the ticket machines and some states are already reporting machine problems. Some machines in Georgia have been slow at processing tickets and are in need of repair. It has not been confirmed how wide spread the problem is and all states have reported no problems at the moment, however a ticket flurry is expected the chances of machines running slowly are increasingly likely – give yourself plenty of time and get down to your local retailer early.

Crossing state borders

You can’t buy Powerball tickets in Alabama, Alaska, California, Hawaii, Mississippi, Nevada, Utah and Wyoming, as a results residents have been crossing the borders into playing states to get their tickets. Reports having been coming in about residents of Utah crossing into Idaho and retailers have been, in some cases running four registers with up to 20 people deep queuing. It has been estimated that 90% of customers are from out of state. Some retailers have reported customers buying more than usual numbers of tickets, may be $60 to $80 and in one case $5,000 worth.

Syndicates – buy tickets with a group

Attempting to improve your chances of winning by teaming up and playing with others is a good idea. Playing with colleagues, friends and family can work so long as everyone is in agreement on the rules and it is managed correctly; try designating a syndicate manager to buy and keep the tickets; agree an amount to buy; photocopy the tickets and distribute to the group; and decide who should claim the prize if your group is lucky enough to win.

To keep up-to-date with Powerball and other lotto results or to buy tickets online then try following www.lottery.net

by Mike Redfern
Updated April 5th, 2016

27
Nov 12

OZ Lotto Results for Tuesday November 27th 2012

OZ Lotto News

The OZ Lotto Results for Tuesday 27/11/2012 are as follows:

Main Balls: 1 – 9 – 13 – 16 – 22 – 33 – 34
Supplementary: 4
Supplementary: 5

Next Draw: Tuesday December 4th 2012
Next Jackpot: $13,000,000

OZ Lotto Prize Breakdown for 11/27/2012

Prize Level Prize Winners
Match 7 $10,000,000 0It’s a Rollover!
Match 6 plus Supplementary $21,568 8
Match 6 $3,861 92
Match 5 plus Supplementary $367.60 497
Match 5 $48.65 4,379
Match 4 $24.00 101,405
Match 3 plus Supplementary $14.05 194,507

Draw Schedule

Monday Tuesday Wednesday Thursday Friday Saturday Sunday
No Yes No No No No No

Look out for the next OZ Lotto draw and Good Luck!

Tags: , ,

by Mike Redfern
Updated November 27th, 2012

26
Nov 12

US Powerball: How much is $425m really worth?

Powerball NewsIt’s late night on Wednesday, November 28, you have just matched all the numbers to win the $425m US Powerball Jackpot, yay!  You’re excited, you’re more than excited man you’re over the moon!  Who are you going to tell first? What are you going to buy first? Do you take the smaller cash sum or 30 annuity payments?

What ever you choose, just remind yourself that it’s not all yours! A huge slice of your jackpot pie is taken and devoured by Federal Tax, State Income Tax and a combination of other fees. So how much of the original $425m are you likely to take to the bank?

In summary, and depending in which state you reside, after winning, then choosing the cash value of $278.3m, you would be lucky to see $150m!

Don’t get me wrong, that’s a serious amount of money and what a life you could have but what a con to create media hype for the more tickets sales.

This is a summary of the tax situation…44 jurisdictions playing the Powerball, only six don’t have a state income tax, they are:

  • Florida
  • New Hampshire
  • Tennessee
  • Texas
  • South Dakota
  • Washington
  • Pennsylvania (exempts lottery winnings from its tax)

Should a resident of one of those seven states be the sole winner, he or she will fork over 35% to Uncle Sam in Federal Tax and no more…however if you live in any of the remaining states then in addition to this you will have to pay some Sate Income Tax.

You can find the latest Powerball results here at Lottery.net.

by Mike Redfern
Updated March 30th, 2016

26
Nov 12

Attempted EuroMillions Fiddle in UK

Euro Millions NewsEarlier this month the people of East Yorkshire, England have been getting letters claiming to be from EuroMillions Lottery International and Alpha Security Company informing them they have won more than £500,000 – you would literally fell like you have won the lottery!

Local Trading Standards Officers are advising residents not to fall for the rip-off. The counterfeit letter asks the ‘winner’ to keep it secret and then fill in a payment processing form with their bank account details and to send it by fax to a number in London. Sounds plausible, however no prize money will be awarded as the organization is bogus!

Raise awareness of these tricks and be more aware of this con and pass on this information to others who are regular lottery players.

by Mike Redfern
Updated August 22nd, 2013

26
Nov 12

US Powerball Jackpot gets bigger, now $425m!

Powerball NewsThe jackpot for the next draw of the US Powerball on Wednesday, November 28 is estimated to be $425m, the largest in games 20-year history!

On Saturday, November 24 no one won the the top prize of $325m so the jackpot will now rollover to Wednesday.  Despite this over 2 million tickets won non-jackpot prizes totaling just over $25m – including 11 match 5 winners each winning $1,000,000.

With a majority of tickets in the US sold at till point terminals retailers are expecting to see an increase in sales as a result of an increases number of Black Friday and Christmas shoppers.  The size of the jackpot coinciding with the holiday season has brought a never seen before level of interest in the Powerball, from both within the US and overseas.

Despite all the hype and media attention being given, and rightly so, to the massive $425m jackpot let’s not forget how much is taken in tax and other fees e.g. in 2005 Brad Duke won $220m, he opted for the cash lump sum and after taxes and other fees he banked $85m!  Still a life changing amount of money but that’s approximately 60% less than the advertised jackpot of $220m!  Watch this space for more commentary on this issue…

 

 

by Mike Redfern
Updated March 13th, 2015