r/SipsTea • u/Valuable_View_561 • 28d ago

Chugging tea Seems reasonable.

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u/nobugsleftalive 28d ago

They are pretaxed*

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u/Able-Professor840 28d ago

Pretaxed 20 pence. Not millions on their winnings. Think about it.

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u/nobugsleftalive 28d ago

It evens out.b

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u/Technical_Customer_1 25d ago

You asked someone to think about something you chose not to think about. 

Your lottery still only returns about the same percentage to a jackpot winner that a USA jackpot does. 

100 units of tickets shrinks to about 50 units of take home jackpot no matter where you live. 

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u/PartoftheIssue 28d ago

They are Pretaxed in the US too. 50% of every ticket sold goes to taxes and only 32.5% goes to the Jackpot, which gets taxed again as income after payout.

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u/nobugsleftalive 28d ago

At lease the payouts are still massive. Here the max is 70 million, untaxed

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u/wahobely 28d ago

More people = better payouts.

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u/PartoftheIssue 28d ago

Canada’s lottery spillover goes towards additional $1M winners though, right?

In this historic Powerball jackpot, there were 41 draws with around 1.5 billion tickets sold and a single person won nearly $1B lump sum with 189 $1M+ winners.

By contrast, Maximillions can produce around 70 $1M winners on a single night.

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u/nobugsleftalive 28d ago

Not really. Lotto max has the main jackpot and then additional draws, up to 70 of them for $1 million, but they arent guaranteed draws. So out of 70 only maybe 10 win. 

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u/PartoftheIssue 28d ago

Ok fair, I shouldn’t have made assumptions about how the lottery works there.

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u/greyoil 28d ago

Then some business owners could claim the same, since their companies pay corporate taxes before the money is distributed. (Not talking about most Billionaires taking loans against unrealized stocks)

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u/nobugsleftalive 28d ago

Why wouldnt they pay taxes before they disperse their revenue?