Scratchers!

[BnLM5]

I went to town early this am to get breakfast. I stopped at the store to get smokes and I bought two $1.00 lottery tickets scratchers. (California) For those of you who don't know where I live. Anyway I bought one for him and one for me as I am weird like that. He lost :( and I won :) $25.00 on mine! I am smiling!

[TerpZone]

I used to work in a liquor store that sold scratch offs in Maryland. The odds were twice as good as they are here in NY, but I still usually spent my entire days pay on that **** and Keno.

I hate scratchoffs. :(

[BnLM5]

I used to work in a liquor store that sold scratch offs in Maryland. The odds were twice as good as they are here in NY, but I still usually spent my entire days pay on that **** and Keno.

I hate scratchoffs. :(

Ouch! TerpZ you got sick with it didn't ya? I can see why you hate them. :)

[TerpZone]

Won $50 on my first $1 scratchoff there. Chased that **** until they banned me from playing any more one day because the lotto count was low after I had played.

Then I moved to keno! Probably did better in that though.

[eejit101]

Lottery scrath cards are a tax on the idiotic....

Spend $1 - odds of winning anything = bad.

[TerpZone]

eh, the odds on the MD lotto weren't horrible. 1:2.9 or so on the $10 dollar ones, 1:3.5 on the $5 and 1:4 on the $1

Beats the 1:92530978 in New York.

[BnLM5]

Lottery scrath cards are a tax on the idiotic....

Spend $1 - odds of winning anything = bad.

Don't buy them then! I never win enough to get rich with them but for the most part I do relatively decent. Out of the last three I scratched I won on all of them. $7.00, $10.00, and $25.00. All different games and all but the $25.00 winning ticket were bought for me.

Nonetheless I don't consider it a tax as I am helping the schools in Calif. lol

[BnLM5]

eh, the odds on the MD lotto weren't horrible. 1:2.9 or so on the $10 dollar ones, 1:3.5 on the $5 and 1:4 on the $1

Beats the 1:92530978 in New York.

We have $1,$2,$3, and $5 tickets in the scratchers and each denomination has several different games and each game has different odds of winning a dollar amount vs. a free ticket. For example one $1 game ticket has the the odds of 1:4.5 for any prize and the odds of 1:7.5 for a money prize. And each game varies along with the largest amount that can be won in the game.

I don't think we have $10 tickets. Do we Ringo?

[TerpZone]

yeah, every game differs but usually the denominations are pretty similar in payouts. We had 1,2,3,5,10,20,30 in Maryland. Never went above the 10s though.

One of the guys that worked at the place before me once hit a grand a week for life. He went up to the manager and was like uhh... look at this for me.

He never came back.

[eejit101]

In UK we have some cool ones, they are kinda fun, but i dont do them.

Prizes go up to £1mil on the £5 ones.

[GloBug]

u know whats funny is that when i was 17 i used to buy scratchers from a 7-11 near my moms house when i lived thee and one night i went in and bought $20 worth of $1 scratchers and won on the 1st one i did i won $500 and the last one i did i won another $500. well knowing that i couldnt cash them in i got a friend of mine to do it and and i blew all the money on a trip to yosemite. damn i wish i had that luck now.

[eejit101]

Lol, awesome.

Proves you had no concept of maths as a 17 year old, but you spent it wisely!

[GloBug]

Lol, awesome.

Proves you had no concept of maths as a 17 year old, but you spent it wisely!


well yeah i could have spent it on drugs and alchohal but i decided to go spend a weekend with my girl and a few friends out in the wilderness. it was good times. its one of those memories that will always stick in your head and that makes it worth what i spent. plus i got laid that weekend. my girl and i had been together for like 4 weeks and yosemite was the the snake charmer that worked.

[Pokerkitty6]

I love playing the lotto. I have had to pay taxes on my wins for a few years. Usually, I am a lucky gambler....You know what I call the lottery....A poor man's dream!

[BnLM5]

That is a good name for it PK! To up date my lottery winning streak. I stopped by the store on the way home from school today and purchased two more $1 tickets and he lost and I won $2. I always say a push is as good as a win! I am four for four now. Uh Oh! I hope I don't get sick with it! :)

[freeringo]

I went to town early this am to get breakfast. I stopped at the store to get smokes and I bought two $1.00 lottery tickets scratchers. (California) For those of you who don't know where I live. Anyway I bought one for him and one for me as I am weird like that. He lost :( and I won :) $25.00 on mine! I am smiling!


Awesomesauce
:iagree::iagree::iagree:
Now buy 5 more and an 18 pack.

[Marakesh]

If you think that all the money you spend on scratchers and lottery actually gets to the schools,you are very wrong.
On average(in California) of the proceeds from lottery,scratchers,and Keno only 27% makes it to the schools
the other 73% is taken by administrative costs...whatever that means
not so good in my opinion,but still better than nothing

[BnLM5]

If you think that all the money you spend on scratchers and lottery actually gets to the schools,you are very wrong.
On average(in California) of the proceeds from lottery,scratchers,and Keno only 27% makes it to the schools
the other 73% is taken by administrative costs...whatever that means
not so good in my opinion,but still better than nothing

Yeah, I know. Lol as I was sarcastically speaking/writing and using the excuse as a reason to justify my buying lottery ticket scratchers. But thank you. I always find a way to joke about that as when they first came about the big deal was to see the lottery help our schools. I guess there was more to that in the fine print because it didn't really go the way it was said. Did it? :)

[TerpZone]

I love playing the lotto. I have had to pay taxes on my wins for a few years. Usually, I am a lucky gambler....You know what I call the lottery....A poor man's dream!

Why not collect losing tickets then to avoid the taxes? My uncle hit $30,000 on a slot in AC once and bought $30,000 worth of losing lotto tickets for $800 from some guy on the street to offset the taxes. He paid nothing to the govt.

[navuta]

I will never gamble my money on something I dont have odds to aply for..
Stop gambling..
Start playing...
Better life for us all!

[BnLM5]

I will never gamble my money on something I dont have odds to aply for..
Stop gambling..
Start playing...
Better life for us all!

What are you kidding? Do you think that you do not gamble? Lol

[navuta]

What are you kidding? Do you think that you do not gamble? Lol
No...
I usualy never gamble....
lol...
Until I found something cool like this drawing and things for free like other stuff..
.But I only gamble on poker when Im on tilt...
For sure..
Gambling is for kids...
I dont like gambling...
I just like to win ramdom things...lol
:cheers2:

[eejit101]

Why not collect losing tickets then to avoid the taxes? My uncle hit $30,000 on a slot in AC once and bought $30,000 worth of losing lotto tickets for $800 from some guy on the street to offset the taxes. He paid nothing to the govt.

That is utter genius

[TerpZone]

That is utter genius

New York City man. You can find someone for anything.

[eejit101]

And you can get milled

[TerpZone]

And you can get milled

milled? Your queen's english has gone over my head.

Shouldn't you be playing a poker game?

[eejit101]

Milled????

Lolz. ill link ya.

Urban Dictionary: milled


Term 2. Tho there used to be a term 3...

"for a woman to have a 3 some in the *** with a canadian and new yorker"

[TerpZone]

New York City is one of the safest cities in the US.

This isn't the 1970s.

Blv.

[eejit101]

Wtf is blv?? hang on, google it, seeing as i work for them

[freeringo]

Milled????

Lolz. ill link ya.

Urban Dictionary: milled


Term 2. Tho there used to be a term 3...

"for a woman to have a 3 some in the *** with a canadian and new yorker"


Better than a Girk.

[eejit101]

Not as good as an eejlove tho.

Ill define that on there one day

[TerpZone]

Wtf is blv??

Believe. Believe. Believe!

[BnLM5]

That is utter genius

It is practical sense. :hat: However in preparing Federal Income Taxes for self or for another that involve winnings from gambling (Bingo winnings, lottery, lotto, Indian Gaming winnings) that exceed the amount of $1199.00 that were not accumulated will be taxed and must be filed with a W-2G form and requires a W-4, and must be filed on a 1040 long form. If you decide to claim a loss in gambling at this point you can only claim up to the amount of your winnings and no more. You must also be able to show proof of the losses if you were to be audited. Which does not always happen. This is where the losing lottery tickets came in as in this case it was a rather large sum of monies. I would have never paid someone that much money for losing tickets as where I live you can collect them by the thousands as people throw them away and there are other ways to account for your losses. Nonetheless choosing to take the loss as opposed to the offset can sometimes prove to be the better way to file. Probably not in this case though. It largely depends on what tax bracket you would fall in, your filing status, and what other types of income may be involved.

It goes without saying just like with credits sometimes it works out better to not get a credit but rather have gotten a grant instead.

The smart thing to have done in this situation IMO would have been to have the taxes taken out at the time of winning the money.

The genius thing here is to collect the loosing lottery tickets and save them up til tax time and find someone out there that was lucky and won and sell them to them for the offset. I have a whole new outlook on lottery tickets now. They may prove to be profitable for me after all. :grin:

Oh and update on the winning streak ticket # 5 was a loser for me and a winner for my hubby, he won a free ticket.

Gotta go look for loosing lottery tickets.....:auto: