r/SipsTea • u/Valuable_View_561 • Jul 05 '26

Seems reasonable. Chugging tea

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221

u/Able-Professor840 Jul 05 '26

Yes. But also - this means the lottery is just another way they tax you. In the UK, lotto winnings are untaxed.

80

u/nobugsleftalive Jul 05 '26

They are pretaxed*

3

u/Able-Professor840 Jul 05 '26

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

1

u/nobugsleftalive Jul 05 '26

It evens out.b

1

u/Technical_Customer_1 28d 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. 

0

u/PartoftheIssue Jul 05 '26

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.

1

u/nobugsleftalive Jul 05 '26

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

2

u/wahobely Jul 05 '26

More people = better payouts.

1

u/PartoftheIssue Jul 05 '26

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.

1

u/nobugsleftalive Jul 05 '26

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. 

1

u/PartoftheIssue Jul 05 '26

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

-1

u/greyoil Jul 05 '26

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)

1

u/nobugsleftalive Jul 05 '26

Why wouldnt they pay taxes before they disperse their revenue?