Will you play the new US lotto coming here?

[-]

DECKTHEBALLZ@reddit

Won't you have to pay US taxes on the winnings?

[-]

Feeling-Ad6796@reddit (OP)

Apparently not no. I think that's why we are paying nearly 3 times the price they do for a ticket. And we're only allowed the 30 year payout.

[-]

I don't even play our one. I find it odd the extra appeal of the super massive jackpots - you are less likely to win, and is just a few million not that worth bothering with? Billions sounds like more of a burden than anything else.

[-]

Feeling-Ad6796@reddit (OP)

People don't see the odds. They see the jackpot. And nah a burden is bad health or a job you hate, a billions is not what I'd describe as a burden.

[-]

NeighborhoodKey2587@reddit

Of course I'll play. And if there's a big jackpot, I'll be 100%. And I don't plan on playing three times a week for the entire year. If there's a jackpot of at least $1 billion, then I'll play in every draw. If someone wins in the UK, they get 33 million a year (in pounds, which is a bit less), roughly the same amount as Diego Simeone, who's been working in the same job for 15 years. Ha, ha.

[-]

Electric-aura3000@reddit

Nah absolutely not. As someone who used to work on Kiosk for a few years it's very very rare someone gets a decent amount (the most a customer won was £280 and that happened once).

[-]

thesyldon@reddit

I have 3 lines in the favourites. I will only put the lottery if it exceeds £60m. I always check back to see if it would have won. It is hard to believe how those numbers can miss with such frequency. Anyone who puts the lottery on expecting to win is a bloody fool.

PS: you could try this with any numbers just by putting them into the lottery checker to see how you would have done over the last 6 months.

[-]

whyy_i_eyes_ya@reddit

Anyone who checks their own ticket wouoldn't bring a big winner to a kiosk though, as there's a max payout

[-]

Feeling-Ad6796@reddit (OP)

They probably bought it to the kiosk to see if the tivket had won. Then the kiosk will tell them to contact the lottery as that's what big wins will say in a kiosk I imagine.

[-]

Electric-aura3000@reddit

Yeah this is exactly it

[-]

Electric-aura3000@reddit

You're right but some people still check (particularly old people)

[-]

PricyRed_n_Blue@reddit

I only once had a customer where it wouldn't say what she won. I have always wondered

[-]

Underwritingking@reddit

Absolutely not. The less intrusion from the US in my life, the better

[-]

ActionBirbie@reddit

How does the tax work?

Don't yanks, unusually, have to pay tax on the winnings?

[-]

Feeling-Ad6796@reddit (OP)

They do but we are excempt from it here it appears as we are paying nearly 3 times for the ticket and can only take the 30 year payout option.

[-]

IncreaseInVerbosity@reddit

I have a direct debit for Euromillions.

Ticket cost per year is £260, EV per year is about £80 when taking into account realistic winnings.

Expected cost then is about £180 per year, which for me at least is not a big deal.

From that £180 there’s a charity contribution of £72.80. I probably wouldn’t play it without that, and I’m more than fine with it.

Leaves approx £107.2 expenditure a year gambling for the life changing prizes, which realistically is the best chance I’m going to have for becoming a rich (even though I’m never winning it).

Looking at new Powerball figures, assuming they’re correct, it’s about £624 annual spend, £130 realistic annual EV, so approx £500 per year.

There will be a charitable contribution from that, but £500 per year starts to become a non-trivial expense. I’d rather donate to charity directly at that point.

Thanks to the UK millionaire maker, Euromillions has much better odds (that are still incredibly awful) of hitting life changing sums of money.

The Powerball grand prize is paid over 30 years as well. If the jackpot is like £1 billion then I could probably justify a ticket, but at any other point it’s a very clear don’t touch.

[-]

Feeling-Ad6796@reddit (OP)

Yea but let's be real. The average player and the vast majority don't give two hoots about how much is going to charity or where their money for the ticket is going. They only see the jackpot figure and giving themselves a chance to won it.

[-]

dave8271@reddit

Odds of winning the jackpot per line are about 293 million to 1, so the jackpot would need to be just under £1.2 billion for £4 a line to represent a fair return.

[-]

tdrules@reddit

A lottery that doesn’t support UK communities and athletes? Why the hell would I do that?

[-]

IncreaseInVerbosity@reddit

Looks like it’ll be part of the general Lotto pool of games where a ticket percentage goes towards charity form the jurisdiction it’s brought in.

However it’s also a £624 spend per year if you’re playing every game, about £500 if you take EV into account. At that point it becomes a non-trivial expenditure, better off just donating directly to charity.