With a projected jackpot of $1.5 Billion – and rising – people are buying tickets for the Powerball Lottery in person in the U.S. from Canada and online. Tickets are only $2, but if you spend a bit more, you can guarantee a win – purchase all 292.2 million possible number combinations! That will set you back $584.4 million U.S., with a payout of $868 million if you choose the cash payout. The math says you’d end up ahead -BUT – we’re talking before-tax numbers here. In Michigan, for example, after taxes the cash payout would be about $610 million, so you’d barely break even. Other states may have higher tax rates, and don’t forget the gift tax if you plan on helping out friends and family with your winnings! You might even plan for a lawsuit now, if you’re in on a group ticket.
Still want to play? These winners wish they hadn’t.