Lottery win-work colleague

[shootingstar]

Guy who sits 10 ft. away from me, won a hospital charity lottery fundraiser. They won a BMW car. So they took the $77,000 cash in lieu for the car's value.

He met the grand prize winner, a working class couple in their late 50's, who won a $2 million dollar large home.

One of the things his GF mulled over was why not engagement rings for ourselves...which he didn't want. He's divorced from previous (no kids) times. Instead he wants to buy a set of more modest rings much later..

[indysteel]

I don't know that I'd want to win a $2 million home unless I could take cash in lieu of it. I've read stories about the winners of HGTV's "Dream Home." They were basically rendered bankrupt because of the property and income taxes and cost of maintenance. They all had to just turn right around and sell the home, which hasn't always been easy.

[Eden]

I was thinking the same thing Indy... If you can't afford to buy a 2mil$$ home how can you afford the taxes and the upkeep..... I would think it would be very, very difficult to keep a prize like that.

[Koronin]

I agree with Indy as well. The car on the other hand depending on the model I may have kept.

[shootingstar]

And for same lottery, a young couple won $600,000 cash.

Probably the best prize situation was the above couple and my colleague who did the right thing. (I mean to have taken the BMW and try to sell it later at original value price...very tough.)

Apparently the tax law at least in Alberta if it's earned from a charity lottery, it's tax-free. A major accounting firm was there to witness on behalf for hospital foundation.

[indysteel]

Wow; I'm gonna move to Canada and start playing the lottery! U.S. Tax laws are not nearly as generous.

I hate the lotteries here. Everytime I go into a convenience store, I'm behind 10 people who are each buying at least ten tickets. At the risk of sounding judgmental, most of them appear to have better ways to spend that money. It's a sad reflection of their priorities, and an even sadder reflection of our state government. They'd rather tempt the poor than tax the rich.

[Crankin]

Yep. And I live in the state that has the highest proportion of lottery players.
It's disgusting.
This past year two of my clients came from families that won the lottery twice. They each won about 100K the first time and 30K the second. One is pretty much living in poverty now and the other one, well, it didn't help the alcoholism and other problems going on.
When I was teaching, the parents association used to have a teacher appreciation luncheon for us near the end of the year. Their "gift" to us was a couple of lottery tickets. I thought this was horrible and I always refused to accept them, just saying "no thanks." This caused quite a few raised eyebrows.
What I didn't tell them is my grandfather pretty much lost a million dollars gambling in the thirties and forties. He had money when no one else did and just gambled it away. He didn't need to, he had a successful shoe factory and was the designer of some of the first low cost women's shoes in the US.
So, my attitude toward this is kind of skewed.

[shootingstar]

We have enough lotteries, since some of provincial govn'ts use them to raise money.

I know the law in Ontario changed in late 1980's to allow this. Don't know about the other provinces when their law changed.

People get excited by casinos. Like you Crankin, it actually disgusts me, entertainment thinly disguised to get people to throw their money away. One of the women I worked with for another employer, as celebration for high school graduation, she took her son to a....casino. The boy was 18 yrs. old!


My parents do buy a lottery ticket ...I guess we've never worried about it...it's like us buying Starbuck's coffee almost daily. That would be the equivalent money. (I hope.) They are simply poor elderly, which lotteries do target anyone and everyone.

I have won once in an informal employee based 50/50 kind of "lottery". I won $30.00. Probably the only time I participated out of all the places I've worked.

I'm so glad dearie isn't interested in this type of stuff either.

[Trek420]

There's a manager in my building who playes/played the lottery religiously. Sadly she did not check her numbers as religiously. She won 30+ million but since she did not check till past the deadline, or pay attention to announcements in the news "someone who bought a ticket in _____ has won and not come forward" ... ::: poof::::.

When I ride, walk, walk the doggie if I see scratchers I pick them up. It's surprising how many don't enter them online for the 2nd chance drawing. So far I've got about 500 of them over the last year. But I never buy the tickets, regular lottery or scratchers.

[Koronin]

I do on occasion play the lottery (usually scratch off), but it's usually extra money/play money and it's not even monthly.

[Becky]

The only time that I play the lotto is during our annual safety training....scratch-offs are given as bribes for student participation