- 1 What state has the best scratch ticket odds
- 2 How much money can you make in PA without paying taxes
- 3 Has anyone won set for life in California
- 4 How do you tell if a California scratcher is a winner
What state has the best scratch ticket odds
Accountant reveals the best scratch-off ticket in each state Published: 20:41 BST, 21 July 2022 | Updated: 14:47 BST, 22 July 2022 A professional accountant who left the world of high finance to analyze lottery odds for a living has revealed his current rankings of the scratch-off tickets with the most favorable odds in each state.
- Founder Jared James, 44, shared the data exclusively with DailyMail.com this week, naming the instant games with the best odds in each state, as well as the top five across the nation.
- James, a certified public accountant who lives near Charlotte, founded the lottery analytics company in 2019 following a career as a financial consultant at PricewaterhouseCoopers and Wells Fargo.
‘Everything we do is all mathematical, there’s no magic box,’ he explained in an interview on Wednesday. ‘You still have to have the luck to find the right ticket at the right store.’
- James said that his site runs ‘thousands of calculations’ to rank the best scratchers as new sales and redemption data come out, explaining: ‘the odds actually change every day – that’s one thing people are surprised hear.’
- Scroll down for state-by-state list
- Out of the country’s five tickets with the best overall odds of winning any prize, three games from Iowa made the cut.
- A $20 game from Kansas, Extreme Crossword, had the top overall odds in the nation, according to James.
Offering his advice to scratch-off players, James said: ‘Most importantly, have a budget in mind. Don’t overextend yourself.’ ‘Once you know how much you’re willing to spend, decide what you’re trying to win,’ he continued. ‘If you’re after $5,000 prize, or $10,000, or $1 million, that’s a totally different set of games.’ Lotto Edge founder Jared James analyzes scratch-off odds for a living ‘Out of 70 games, I’ll tell you which has the best odds, but if you want the million dollar prize, that’s a different question.’ James said that his interest in the lottery began with his step-father, who used to play scratch-offs ‘religiously’ when he was growing up.
- James launched his Lotto Edge service, which offers premium insights for a subscription fee, three years ago, saying he’d always dreamed of running his own company.
- He says the service saw a big spike in interest in the early days of the COVID-19 pandemic, when people were stuck at home in lockdown.
- ‘We also really see these spikes when the Mega Millions gets so big, like it is now – people who are exploring Mega Millions find us and are surprised,’ he said.
|STATE||Game||Price||Odds of any prize|
|AR||200X the Money||$20||2.94|
|AZ||Triple Bonus Crossword||$25||2.40|
|CA||$10 Million Dollar Titanium Black||$30||2.62|
|CO||$50 Set For Life||$50||2.57|
|CT||$1,000,000 Golden Riches||$30||2.98|
|FL||Billion Gold Rush Supreme||$30||2.60|
|GA||200X The Money||$25||2.49|
|ID||Ace of Spades||$30||2.97|
|IL||$1,000,000 Jumbo Crossword 10X||$25||2.70|
|MD||$100,000 Extreme Cash||$30||2.79|
|ME||$50,000,000 Ca$h Riche$||$25||2.38|
|MS||$100 Million Extravaganza||$20||3.40|
|NC||$10,000,000 Colossal Cash||$30||2.83|
|NE||$200,000 Cash Crossword||$20||2.98|
|NH||Granite State Premier||$25||3.09|
|NJ||Raging Hot 7’s||$30||3.41|
|NY||$5,000,000 Mega Multiplier||$20||3.33|
|OH||40th Anniversary Millions||$30||2.66|
|RI||$5,000 Cash Dash||$20||3.22|
|TN||$3,000 In A Flash||$30||2.73|
|TX||$750 Million Winner’s Circle||$30||2.88|
|VA||100X the Money||$30||2.77|
|WI||Gnome for the Holidays||$15||2.90|
Note: Five US states do not have a lottery. They are Alabama, Alaska, Hawaii, Nevada and Utah. North Dakota and Wyoming offer drawings, but not scratch-offs. Offering his advice to scratch-off players, James said: ‘Most importantly, have a budget in mind. Don’t overextend yourself’ (file photo)
- The jackpot for the Mega Millions, a multi-state lottery drawing, now stands at $660 million for the next drawing on Friday – which would be the third-largest prize in the contest’s history.
- A total of 45 US states offer government-operated lotteries, and across North America, lottery sales topped $106 billion last year, according to the North American Association of State and Provincial Lotteries.
- Lotto fever was hottest in Florida, which had the most sales of any state last year at more than $9 billion.
Critics of lotteries say that they prey on the poor and financially desperate. But defenders argue that they are a voluntary form of entertainment that helps fund state initiatives, including education. Lotteries have a long history in the Americas, even dating back to the colonial period prior to the founding of the United States.
- Following backlash on religious and moral grounds, legal government-operated lotteries were banned across the country from 1894 to 1964 – though illegal ‘numbers games’ flourished nationwide.
- In 1974, the Massachusetts Lottery becomes the first in the world to launch an instant scratch-off game.
- Scratchers, which rely on computer algorithms to generate secure tickets, quickly became a global sensation.
- Lottery tickets are sold at approximately 216,000 locations throughout the US, most often at retail outlets such as convenience shops and grocery stores.
- For confidential support, call or text the National Problem Gambling Helpline Network at 1-800-522-4700.
: Accountant reveals the best scratch-off ticket in each state
What coin is best for scratchers?
When scratching tickets, use a tool with a smooth, non-serrated edge. Suggested tools: smooth-edged coins like nickels or pennies, instant ticket scratcher tools, washers, etc.
What is the best lottery strategy?
Nine Tips on How to Win the Lottery – Richard Lustig advises that to unlock the secrets of how to win lotto; you should keep in mind these nine expert tips. These can be carefully tailored to your case and maximize your chances on how to win the lottery, catapulting you toward that life-altering jackpot.
- Embrace Consistency : While it’s true that purchasing more tickets can enhance your odds of winning, it’s essential to strike a balance between investment and potential returns. In a local Australian lottery experiment, buying more tickets did not entirely compensate for the expenses. However, don’t despair! The more tickets you have, the greater your advantage in the grand game of chance.
- Power in Numbers : Join forces with fellow lottery enthusiasts by forming a lottery syndicate. By pooling your resources, you can collectively purchase more tickets and increase the range of numbers played. While sharing the prize with multiple winners is a possibility, envision the thrill of celebrating a significant sum even after division. A $500 million jackpot divided among ten winners still holds immense value (and this holds true for a Powerball winner too).
- Randomize Your Lotto Numbers : Bid farewell to predictable sequences and consecutive numbers when looking for how to win a lottery. When selecting your lottery numbers, avoid sticking to conventional patterns. For instance, if the lottery entails five winning numbers up to 55, aim for a total sum within the range of 104 and 176. Fascinatingly, 70% of lottery jackpots fall within this numerical sweet spot.
- Variety is the Spice of Winning : Steer clear of numbers confined within the same group or those ending in similar digits. While there’s always a chance that fortune might smile upon you, the probability diminishes significantly when patterns are repeated. Diversify your number choices, for it is in variety that hidden triumphs often lie.
- Seek the Unexplored : Dare to venture into the realm of less popular lottery games, where the path to victory is less trodden. That’s a surefire road to how to win a lottery Choose games that don’t consistently produce winners, as this decreases the competition and enhances your odds of emerging victorious. Embrace the thrill of the unknown and set your sights on unique opportunities.
- Uncover Hidden Gems : Expand your horizons beyond the familiar and explore lesser-known lotteries such as Suprenalotto, Eurojackpot, or Superlotto Plus. While the jackpots might not reach astronomical heights, the silver lining lies in the significantly higher probability of claiming the prize. Embrace the allure of uncharted waters and reap the rewards.
- Bid Adieu to the Obvious : As tempting as it may be to choose numbers based on birthdays or other significant dates, it’s a path well-trodden by many. Typically, these numbers fall within the range of 1 to 31, inadvertently reducing your chances of avoiding a shared prize. Break free from the predictable and venture of how to win the lotto into the realm of uncharted numerical territory, even if you are looking to become a Powerball winner.
- Embrace Uncommonality : Remember, every number in the lottery holds an equal chance of being chosen as a winner. While no software can predict the exact winning number, opting for less common numbers can increase your odds of avoiding a divided jackpot. Embrace the unconventional, for therein lies the path to singular glory.
- Play Your Game : National lotteries may offer vast pools of numbers to choose from, while local or state lotteries present higher winning odds. Consider your preferences and desired odds when selecting the game that aligns with your lottery ambitions. Choose wisely, for the game you play can be the game you conquer.
Armed with these nine expert tips, you possess the knowledge on how to win the lottery and to transcend the ordinary, and embrace the extraordinary in the realm of lottery play. These can help you on your journey towards how to win a lottery. Success awaits those who dare to step outside their comfort zones, challenge convention, and harness the power of strategy.
What is the highest lottery tax?
What is the tax rate for lottery winnings? – When it comes to federal taxes, lottery winnings are taxed according to the federal tax brackets. Therefore, you won’t pay the same tax rate on the entire amount. The tax brackets are progressive, which means portions of your winnings are taxed at different rates.
What’s the highest tax bracket?
Federal Income Tax Brackets for Tax Years 2022 and 2023 The federal income tax rates remain unchanged for the 2022 and 2023 tax years are 10%, 12%, 22%, 24%, 32%, 35% and 37%. The income thresholds for each bracket, though, are adjusted slightly every year for inflation. Read on for more about the federal income tax brackets for both tax year 2022 (filed by April 17, 2023) and tax year 2023 (filed by April 15, 2024).
- You can also to build a tax plan within your overall financial plan. The U.S.
- Currently has seven federal income tax brackets, with rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%.
- If you’re one of the lucky few to earn enough to fall into the 37% bracket, that doesn’t mean that the entirety of your taxable income will be subject to a 37% tax.
Instead, 37% is your top marginal tax rate. With a, you pay that rate only on the amount of your income that falls into a certain range. To understand how marginal rates work, consider the bottom tax rate of 10%. For single filers, all income between $0 and $10,275 is subject to a 10% tax rate.
|Federal Income Tax Bracket for 2022 (filing deadline: April 17, 2023)|
|Single||Married Filing Jointly||Married Filing Separately||Head of Household|
|10%||$0 – $10,275||$0 – $20,550||$0 – $10,275||$0 – $14,650|
|12%||$10,276 – $41,775||$20,551 – $83,550||$10,276 – $41,775||$14,651 – $55,900|
|22%||$41,776 – $89,075||$83,551 – $178,150||$41,776 – $89,075||$55,901 – $89,050|
|24%||$89,076 – $170,050||$178,151 – $340,100||$89,076 – $170,050||$89,051 – $170,050|
|32%||$170,051 – $215,950||$340,101 – $431,900||$170,051 – $215,950||$170,051 – $215,950|
|35%||$215,951 – $539,900||$431,901 – $647,850||$215,951 – $323,925||$215,951 – $539,900|
Now, here is the chart for tax brackets for the 2023 tax year, to be filed in 2024:
|Federal Income Tax Bracket for 2023 (filing deadline: April 15, 2024)|
|Single||Married Filing Jointly||Married Filing Separately||Head of Household|
|10%||$0 – $11,000||$0 – $22,000||$0 – $11,000||$0 – $15,700|
|12%||$11,001 – $44,725||$22,001 – $89,450||$11,001 – $44,725||$15,701 – $59,850|
|22%||$44,726 – $95,375||$89,451 – $190,750||$44,726 – $95,375||$59,851 – $95,350|
|24%||$95,376 – $182,100||$190,751 – $364,200||$95,376 – $182,100||$95,351 – $182,100|
|32%||$182,101 – $231,250||$364,201 – $462,500||$182,101 – $231,250||$182,101 – $231,250|
|35%||$231,251 – $578,125||$462,501 – $693,750||$231,251 – $346,875||$231,251 – $578,100|
In rare cases, such as when one spouse is subject to tax refund garnishing because of unpaid debts to the state or federal government, opting for the “Married filing separately” tax status can be advantageous. Typically, though, filing jointly provides a tax break.
Only single people should use the single filing status. Single taxpayers who have dependents, though, should file as “.” To qualify for this filing status, you must pay more than half of household expenses, be unmarried and have a qualifying child or dependent. In the U.S., income is taxed progressively with higher tax brackets than in most other nations.
Not all income is treated equally, as the more you make the higher percentage you end up contributing in taxes. All brackets work on a taxable income basis, not necessarily the actual amount of money earned in a given year. Once all deductions are accounted for, and awarded, then the income total that is leftover is your,
Actual taxes paid: The tax you owe could vary based on where your income comes from and how it is broken up. Your entire income won’t necessarily be taxed at your tax bracket rate. Income thresholds: The income thresholds for the federal tax brackets are updated and could change, annually. This is done to account for inflation. Effective tax rate: Your effective tax rate is the percentage of your taxable income that you’ll pay in taxes. You can calculate this by dividing your tax owed by your total income. This is what you’ll actually pay.
If someone asks you for your tax bracket, the person is almost certainly asking for your top marginal tax rate. That’s why, when you’re reading the news, you’ll hear references to “filers in the top bracket” or maybe “taxpayers in the 37% bracket.” America’s top federal income tax bracket is varying over time quite a bit. Our current tax brackets were adjusted when Congress passed new legislation in 2017 that changed the brackets and how taxes are filed. The tax reform passed by President Trump and Congressional Republicans lowered the top rate for five of the seven brackets. Tax filers will need the 2022 federal income tax brackets when they file taxes in 2023. Your top tax bracket doesn’t just depend on your salary. It also depends on other sources of income (such as interest and capital gains) and your deductions. Depending on where you fall within a tax bracket, deductions could knock you into a lower tax bracket, reducing your or increasing the size of your,
If you’re precise with numbers and good at record-keeping, you’re probably fine using tax preparation software. But if you want help to minimize your tax liability, a can help. Finding a financial advisor doesn’t have to be hard. matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals,,If you need more time to file your taxes, you can use to get a maximum extension of six months from the April 15 deadline (to October 15.) But remember, this extension does not apply to payments. So if you owe taxes, you should estimate what you owe and pay what you can to avoid a penalty and interest.
Photo credit: ©iStock.com/wernerimages, ©iStock.com/elenaleonova, ©iStock.com/Pgiam Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and home buying. Amelia’s work has appeared across the web, including on AOL, CBS News and The Simple Dollar.
How much money can you make in PA without paying taxes
Do I Have to Pay Income Tax in Pennsylvania? – Full-year residents, part-year residents, and nonresidents are all required to file an income tax return in Pennsylvania once they have made over $1 in taxable income, even if no tax is due.
Has anyone won set for life in California
January 5, 2023 / 10:12 AM / CBS News Winning $2 billion Powerball ticket sold Winning $2 billion Powerball ticket sold in Altadena, California 04:45 A small California liquor store nestled in between a Crusty’s Pizza and a nutrition shop was holding onto an item that could potentially change one woman’s life forever. California Lottery officials announced that a woman purchased a scratch-off ticket from the store that revealed winnings of $20 million. The California Lottery said on Wednesday that Mary Higelin bought a Set for Life Millionaire Edition Scratchers ticket from CN Liquor in Norco, California. Her $20 million win is the biggest prize possible in the game and made her just the fourth person in the state lottery’s history to win it. CN Liquor will also get a monetary prize for Higelin’s win, earning one-half of 1% of her prize – about $100,000. The win came as three others scored big in the California lottery. Salvador Carbajal won $10 million on the California 200x scratch-off, officials said. He bought his winning ticket at a market in Baldwin Park outside of Los Angeles in September. Milton Polanco, the man who sold him the ticket, told the California Lottery that Carbajal had been playing scratch-offs “for a while.” “He was playing different games, switching back and forth,” Polanco said, adding that the market also sold another ticket worth $15,000 a few years ago. Roberto Nunes also won $10 million this week after playing a titanium Black scratch-off that he bought from a liquor store in Sherman Oaks. And the final winner, Nicholas Simpson, won $2 million off an Instant Prize Crossword ticket that he bought from a gas station on Sunset Boulevard. Each of the stores, similar to CN Liquor, will get a prize bonus for selling winning tickets. Combined, all four winners tallied $42 million in prizes. Californians have had their fair share of luck in the lottery in the past year. In November, the record $2.04 billion Powerball jackpot that had the nation on the edge of its seat finally got a single winner – a man in southern California. While that person did not come forward with the news of his prize, the owner of the business that sold the ticket did. Joe Chahayed, the owner of Joe’s Service Center in Altadena, received $1 million for selling the ticket and said he would use the money for his five children and to donate to his community. A Syrian immigrant who came to the U.S. with his wife, two kids and just $14,000, said he is the grandfather of 10. “I’m very surprised. Very excited. Very happy,” he said.”.I work hard, seven days a week. I raised my kids, graduated from the college and bought a house and I bought a business all because I work hard and become an honest man.”
In: California Lottery Money
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How do you tell if a California scratcher is a winner
For Check-A-Ticket, a pop-up message will tell you if your ticket is a winner or not. If it is a winner, the message will include the amount of your prize. For 2nd Chance scans, you’ll get a ‘success’ message. You can also go to ‘My Submissions’ to see a record of your successful 2nd Chance submissions.