How the lottery snares the poor

A customer at a Mobil station in Walker’s Point buys a Powerball ticket Tuesday.

World Class Bakers, which has been in business for 15 years, said patrons have been coming in from all over the Greater Toronto Area for the tickets.

Getty Images/Kevork DjansezianThe jackpot for Wednesday’s Powerball lottery is at an estimated .4 billion as of this writing, a record high. Money has been pouring in to the jackpot since November 7, 2015, the last time someone claimed the grand prize.

How to play. Never bought a ticket? Powerball tickets are $2 each and players pick five separate numbers between 1 and 69, and a sixth Powerball number between 1 and 26. He missed landing that night’s jackpot of $500 million by not matching the winning red Powerball of 17. “They can also help shield you from the media and from the onslaught of money requests from others”.

While my ideas of what I would do with the fortune continue to snowball, what fun is playing the “what if I win” game alone?

The annuitized option has the victor rewarded with one payment in the beginning, and then 29 payments over 29 years.

And even if you do pick all the right numbers, there’s no guarantee that you’ll have the whole pot to yourself.

“There’s no rhyme or reason to picking the winning number”, Turnowsky said.

Investment planners note, however, that when winners choose how to receive their money, they should consider their age and whether they mind if some of the cash remains out of their reach and goes to their heirs instead.

Whoever wins will have to pay 39.6 percent of the prize in federal income taxes, and any state taxes.

If you were happy yesterday, you are going to be a lot happier tomorrow. Lottery officials expect at least 80 percent of the 292.2 million number combinations will be purchased before Wednesday’s drawing.

If you weren’t happy yesterday you won’t be happy tomorrow.

Jose Sarabia brought the winning ticket into the New Mexico Lottery Albuquerque headquarters late Monday afternoon.

“I am a student working and eventually want to earn a law degree and become a lawyer”, said Shelton.

Next, he advises you call up the lottery association (of the state in which you purchased the ticket) and ask if you are allowed to sign the ticket.

Winners in Georgia have 180 days after the draw date to claim their prize.