Are Lottery Syndicates Legal?

Lottery syndicates may sound like something out of an action movie, but they are instead a prevalent practice worldwide for people who wish to participate in a lottery. By definition, a lottery syndicate or lottery pooling is a group of people playing the lottery together by buying multiple tickets and sharing the winnings. Understandably, however, many people aren't sure if this kind of arrangement is legal.VIEW POST

Mega Millions vs. Euromillions: Which Is Better?

Mega Millions and Euromillions are two of the most popular lotteries in the world. They both have high cap spaces, allowing participants the opportunity to become instant millionaires. While the idea of retiring immediately sounds like a dream come true, there are many differences between these two entries.VIEW POST

Is Powerball Legit?

Powerball is the leading and most popular lottery in the world. Over the years, several people have won the lottery, and in 2016, Powerball paid out the biggest lottery jackpot in history: a staggering $1.586 billion split among three people. But if you’re a lottery fan, you’ve probably heard that news before, so let’s get straight to why you’re here.VIEW POST

Lottery vs. Scratch Cards: Which Will Make You More Money?

When you walk into select stores or visit online lotteries, you are presented with several tickets, some are scratch-offs, and others are for lottery draws. Of course, before you choose which ticket to buy, you’ll want to know whether the lottery or the scratchers will make you more money.VIEW POST

How Much Tax Do You Pay on a $10,000 Lottery Ticket?

Taxes are always tricky to deal with because of the multitude of laws governing it, and it doesn’t get any easier when you win the lottery. Usually, all lottery winnings are treated as taxable income. The applicable tax debt wouldn’t be too complicated to calculate if there weren’t other, not-so-clear legal provisions governing lottery taxes.VIEW POST

What Happens if You Die With a Lottery Annuity?

Many people wonder what happens to their lottery winnings should they die before receiving it in full. Any sensible person can have this concern since death can occur at any time. Will all your winnings go to the government? What about your family? These are some of the lingering questions.VIEW POST

How to Give Money to Your Family After Winning the Lottery

It’s no secret that winning the lottery can suddenly change your life. But while you might be eyeing your dream car, home, or other extravagances that may come with an unexpected windfall, you shouldn’t forget to take care of the people who’ve been there for you when you weren’t as flush: your family. The problem, however, is that giving large sums of money to your family may mean paying more than necessary in taxes if you don’t use the right means.VIEW POST

What Happens When You Win the Lottery While on SSI?

A common concern among those who play the lottery is what will happen to their SSI benefits if they win the jackpot. Will they still be able to collect their winnings, and will they have to give up their SSI benefits as a result of winning?VIEW POST

Here’s Why Lottery Winners Take the Lump Sum

Becoming the next jackpot winner can be a life-changing experience. But while faced with sudden enormous wealth, these lottery winners have a big decision to make. Should they cash out annual payments, or take the lump sum? Many experts have weighed in and insist on taking the lump sum, but why is that?VIEW POST