[vpFREE] Re: Mega Million, great play!!! For the government. Not VP

 

In my post I only mention "jackpot equity".  The other payouts add about 16.3% to total equity.  California uses a different method than all other states for deciding what some of the non grand prize payouts would be.

The payer of any substantial win to a Canadian would withold 30% of the prize.  A Canadian winner would fare slightly better than a US resident if that would be his total US tax liability.

Gambling winnings in Canada are taxable if gambling is your main source of income.  I believe their enforcement on this is currently very weak.  If you want the nitty-gritty read:




nightoftheiguana2000 wrote :

Coupla points, there are sub-prizes in the lottery, you should include that in your EV calculation, and Canada doesn't tax gambling wins, why do you think so many gamblers have moved to Canada? Plus Canada hasn't outlawed internet gambling. But you do need a block heater for your car in many places. And good luck getting a place to stay in Vancouver.

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