DRich
DRich
Joined: Jul 6, 2012
  • Threads: 69
  • Posts: 5081
March 8th, 2018 at 12:42:12 PM permalink
Quote: djatc

Does anyone know if you can refuse taking pictures with big ass checks for a big jackpot payout? Like a WoF or Megabucks? I think for lotteries it's a state law in some places that you have to show up with a picture holding a giant check or something.



You can refuse in Nevada on bets for sure. Some promotions may require media but not on gambling wins unless you consent to ahead of time (eg. WSOP).

I won a car at Station's Car-A-Day giveaway and declined photos. As far as the lottery I believe it is state specific. I know if I won a big lottery jackpot I would change my name and hire a makeup artist to make me look completely different before collecting.
Living longer does not always infer +EV
djatc
djatc
Joined: Jan 15, 2013
  • Threads: 83
  • Posts: 4466
Thanks for this post from:
RogerKint
March 8th, 2018 at 1:43:33 PM permalink
Quote: DRich

You can refuse in Nevada on bets for sure. Some promotions may require media but not on gambling wins unless you consent to ahead of time (eg. WSOP).

I won a car at Station's Car-A-Day giveaway and declined photos. As far as the lottery I believe it is state specific. I know if I won a big lottery jackpot I would change my name and hire a makeup artist to make me look completely different before collecting.



You won a miata and didn't get a pic? What's wrong with you
"Man Babes" #AxelFabulous
Doc
Doc
Joined: Feb 27, 2010
  • Threads: 45
  • Posts: 6891
March 8th, 2018 at 6:51:53 PM permalink
Quote: billryan

One way to be anonymous is to open a trust or claim it in the name of a corporation.

Will the major lotteries pay that way? It is my understanding that PowerBall & MegaMillions are set up for payment to an individual or group of individuals, not to a non-personal entity. I suppose some states might operate differently, like the few that will allow anonymity.
FleaStiff
FleaStiff
Joined: Oct 19, 2009
  • Threads: 262
  • Posts: 13933
March 8th, 2018 at 9:39:46 PM permalink
Mostly anonymity comes with a lawyer's intervention if its a major lottery prize and changing name/appearance would mean little since its the social security number that gets released to credit collection agencies and social security or state welfare people.
Nathan
Nathan
Joined: Sep 2, 2016
  • Threads: 65
  • Posts: 3430
March 8th, 2018 at 11:07:20 PM permalink
I always hated the fact that you had to show the public your face in order to get your winnings. As if I want the public knowing I just hit for a big Jackpot. I'd rather just collect my winnings and go about my business in private. The last thing I want is to be harassed for money or worse. Some Lottery Winners were killed over their winnings and other people who cashed out big in casinos got followed home and mugged at their house.

If it were up to me, you should have a choice rather or not you want the public knowing you won big. Many people love the attention but many people like me don't want the attention. I would be remiss if I didn't mention that I live in Florida where you have to show your face in order to claim the winnings.
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D
FleaStiff
FleaStiff
Joined: Oct 19, 2009
  • Threads: 262
  • Posts: 13933
March 9th, 2018 at 4:47:19 AM permalink
Quote: Nathan

I would be remiss if I didn't mention that I live in Florida where you have to show your face in order to claim the winnings.

And sign a notarized statement about whether you yourself was the original buyer of the ticket or not as well as listing the place and time you bought it even though they already know that.
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 155
  • Posts: 7814
March 9th, 2018 at 8:46:30 AM permalink
Quote: Doc

Will the major lotteries pay that way? It is my understanding that PowerBall & MegaMillions are set up for payment to an individual or group of individuals, not to a non-personal entity. I suppose some states might operate differently, like the few that will allow anonymity.




I would think they have to be set up to deal with legally created entities- a.trust or a corporation.
Taxes are due on the total amount won. If a group of co-workers won, it would be a nightmare to have one person claim the ticket, pay all taxes due and distribute the rest.
A lottery winner who opts for payments over a number of years can always sell his future winnings to a company for a lump sum, which leaves the lottery dealing with a corporation.
Doc
Doc
Joined: Feb 27, 2010
  • Threads: 45
  • Posts: 6891
March 9th, 2018 at 9:19:24 AM permalink
Quote: billryan

I would think they have to be set up to deal with legally created entities- a.trust or a corporation.
Taxes are due on the total amount won. If a group of co-workers won, it would be a nightmare to have one person claim the ticket, pay all taxes due and distribute the rest.

In that situation, each member of the group of co-workers must be listed as a partial owner of the winning ticket. The lottery makes payments to each of them and reports the taxable income, perhaps with a tax withholding for each. If you just let one person submit the ticket, that person personally gets the winnings, and the others would have to try to collect from him/her. There's the nightmare.

Quote: billryan

A lottery winner who opts for payments over a number of years can always sell his future winnings to a company for a lump sum, which leaves the lottery dealing with a corporation.

No, the lottery doesn't pay out the future winnings directly. They use the cash value of the jackpot to purchase an annuity from a financial organization which then makes the payouts. If you later decide to sell the future stream of payments to get a lump sum, the lottery may help you work with that financial organization (and perhaps another "buyer") to reach your objective.
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 155
  • Posts: 7814
March 9th, 2018 at 10:49:56 AM permalink
A Google search shows some states only allow one person or entity to claim a prize, other states allow multiple winners.
Six states allow winners to be anonymous.
Nathan
Nathan
Joined: Sep 2, 2016
  • Threads: 65
  • Posts: 3430
March 10th, 2018 at 12:14:07 AM permalink
Quote: Doc

In that situation, each member of the group of co-workers must be listed as a partial owner of the winning ticket. The lottery makes payments to each of them and reports the taxable income, perhaps with a tax withholding for each. If you just let one person submit the ticket, that person personally gets the winnings, and the others would have to try to collect from him/her. There's the nightmare.

No, the lottery doesn't pay out the future winnings directly. They use the cash value of the jackpot to purchase an annuity from a financial organization which then makes the payouts. If you later decide to sell the future stream of payments to get a lump sum, the lottery may help you work with that financial organization (and perhaps another "buyer") to reach your objective.



There was in the news a story that broke when a guy supposedly cheated his co-workers out of a winning ticket which understandably caused a big stink. Like 10 people all put up money for the Powerball and they entrusted one guy to with the ticket. The Powerball won millions and the other 9 co-workers were excited like," Yes, we all get huge chunks out of that huge Powerball win!"

The huge rub is that the guy claimed that the ticket the 10 people all paid for was a loser and the Powerball ticket that won was his own ticket he bought all alone. As you can imagine his 9 co-workers were furious and were like,"He's lying. He owes us all our cuts from those millions! IIRC they tried to sue him. But there was no way to prove that he was lying IIRC.

A website said something that was good common sense, something like "At least one or two other people should be there as witnesses to the Powerball tickets being purchased. Trusting just one person alone with the purchase of the ticket can be a bad idea. The ticket that is purchased should be put in the office where it is easily accessible by co-workers."
In both The Hunger Games and in gambling, may the odds be ever in your favor. :D "Man Babes" #AxelFabulous "Olive oil is processed but it only has one ingredient, olive oil."-Even Bob, March 27/28th. :D The 2 year war is over! Woo-hoo! :D I sometimes speak in metaphors. ;) Remember this. ;) Crack the code. :D 8.9.13.25.14.1.13.5.9.19.14.1.20.8.1.14! :D "For about the 4096th time, let me offer a radical idea to those of you who don't like Nathan -- block her and don't visit Nathan's Corner. What is so complicated about it?" Wizard, August 21st. :D

  • Jump to: