The US lotteries Powerball and Mega Millions
The US lotteries Powerball and Mega Millions
An international possibility to crack the best jackpots in the world is offered by the US lotteries Powerball and Mega Millions. Despite the high odds, the security is given by the European standards. Who is interested in this kind of the chance, this can do also from Germany, because also on-line a tip can be delivered.
The history of winnings
The biggest prize, which was paid out in America, was 758 million US dollars. The winner had bet only 2 dollars and had chosen the birthdays of her friends as winning numbers. A 53-year-old American woman won the top prize and was able to quit her job as a nurse.
Dollar bills as a prize [Photo: pasja1000, pixabay.com, CC0 Creative Commons
The treatment of winnings under tax aspects is related to the type of payout. The American with her super win opted for a payout as a “lump sum”. This is a reduced sum, which is paid as a one-time payment. As an alternative, she could have chosen to pay in installments. This would then have been paid out monthly for 30 years. A federal tax of 25% is withheld for every citizen of the USA. In addition, 5 % taxes have to be paid to the federal government. This is always the case where the ticket was purchased. But with such high winnings the profit remains very high.
This is a regulation that runs throughout the U.S. Who 5.000 US dollars or more always pays a tax of 25%. It does not matter in which state the ticket was purchased. All other deductions depend on the state in question. Florida, for example, does not require any taxes at all from its winners. New York, on the other hand, charges 8.8. Mediocre Oklahoma settles for 4. As soon as the winner is not from the USA, a tax of a whopping 30 % is incurred. Of course, with the differences between locals and non-locals, this treatment seems unfair at first. However, the intriguingly high winnings ensure another high level of participation by non-U.S. citizens. Because as soon as the lottery starts, all participants can also participate online.
What advantages does the provider bring to German customers?
Many may wonder how it is that such mega jackpots are actually paid out. Some also wonder whether it is a reputable provider. But doubters can be reassured, because the Powerball and Mega Millions lotteries belong to the state lotteries. All calculations are justified. The high number of participants alone favors the exceptionally high winnings.
