Lottery: Mega Millions jackpot millions

Brian Bushard, Forbes (MSN, 2/21/24); Seth Auberon, Sheldon S. (eds.), Wisdom Quarterly

What's luck? Random chance? Falling ass backwards into it? Or Dr. Gallenberger's method?

The Mega Millions jackpot surged to $525 million Wednesday morning, making it the 12th biggest in the game’s history (Getty Images © provided by Forbes).

Topline

Liquid Luck: Good Fortune HB

The Mega Millions jackpot climbed to a mouth-watering $525 million today (Wednesday, Feb. 21, 2024) morning, after no successful tickets were drawn Tuesday night, making the jackpot the 12th biggest in the history of the game, though a lucky winner would see less than half of that amount after federal taxes are deducted.

Key Facts

A lucky ticket purchaser and holder who matches all five white balls and one “megaball” to claim the grand prize would have the choice of receiving the massive payout in 30 annual installments or as a one-time lump sum of $247.1 million, by far the more popular option among lottery winners.

Under the lump sum route, the winner’s payout would be reduced by a mandatory 24% federal tax withholding, cutting the prize to just under $187.8 million, while a federal marginal rate as high as 37% — depending on the winner’s taxable income and other tax deductions — could bring it down to just over $155.6 million.

If the winner opts for the annual installments, a full 37% federal marginal rate would reduce each payment to roughly $11 million.

State taxes could cut even more out of the grand prize, though not every state taxes lottery winnings. More

• How to start getting lucky: Dr. Gallenberger
• Powerball winning numbers for Feb. 21 drawing: Jackpot rises to nearly $350 million

Is "playing the lottery" gambling? (DN 27)

The Buddha gave this advice in The Book of the Sixes (Anguttara Nikaya, VI). We all want six things, one of which is wealth. The question is, Should we pray for it? Is petitionary prayer to some power the way to get it? The Buddha asks, If prayer were able to get it for us, who would not already have it? Better than praying is action (karma) so that one realizes the results without even asking for them. What deed results in receiving?

What is dumb luck?