The winning lottery ticket

[Rondog4405]

A buddy of mine just won $20k on a bingo scratcher. Hes not very well off and hit me up to see if i wanted to buy it for 10k . i was like hell yess im all ovet that! Just looked at what the state takes right off the top. 25%..which is $5000! Fucking nuts!. So i read the procedure is to get a pic taken at the place of purchase and send the ticket and a form to Sacramento . 6-8 weeks later a check will be in the mail for $15k . So on a 10k investment ill make $5000 in 2 months. What say yeeeee? Seems sketchy.. What if it gets lost in the mail.. Out $10 g's! . Plus the tax liability on 20k.

 

[LuauLounge]

Ca lottery has a phone app that you can scan the ticket and it will verify it is a winning ticket. If it is, go for it.

 

[braindead]

50% return in 2 months ain't bad.

Insure it for 40k when u mail it and make sure to get the extra insurance

 

[was thatguy]

Making deals like that it becomes glaringly obvious that your friend will never be “well off”...

 

[Rondog4405]

Making deals like that it becomes glaringly obvious that your friend will never be “well off”...

Oh definitely! Hes a guy that used to work for me. He and his wife have had drug issues in the past.. And after they get $10k in hand they will most likely have them again.. Lol.

 

[Done-it-again]

Why does he need you? Just don’t get why selling it to you benefits him.

 

[Bobby V]

Why does he need you? Just don’t get why selling it to you benefits him.

Maybe he needs the money now and doesn't want to wait.

 

[shintoooo]

The state takes $5K? Is that $5K in taxes because that's 25% and no state has that high of a tax rate so you'll get back $3-4K when you file your taxes.

Also, what about federal taxes? That depends on your personal tax rate. Let's say it's around 25%, so you'll net somewhere around $15-$16K.

 

[Riley1]

So you pay him 10k in cash (which he won’t claim) so any creditors don’t know he has it.

You get 20k which is 15k which after your state and federal taxes is probably 10k? I’m only assuming but seems like almost a wash for you.

 

[LargeOrangeFont]

Is your buddy from Nigeria?

 

[bobbytheboozer]

I hit $450 on hot spot last Friday. Thought i hit $900, but i was shitfaced drunk. Lol

 

[shintoooo]

I hit $450 on hot spot last Friday. Thought i hit $900, but i was shitfaced drunk. Lol

Seeing double lol

 

[stephenkatsea]

20K is nice but not a life changer, for most. Yes, it does sound like your buddy may need the money asap. But, the whole deal seems to have warning signs written all over it. Why not just help walk your buddy through it and get him the max you can. Tell him what a dumb shit he would be if he goes back to drugs. Does the 5K really mean that much to you?

 

[Done-it-again]

Maybe he needs the money now and doesn't want to wait.

Really? Then he shouldn’t be playing the lottery if he needs money that bad.

Friend that has/had a drug problem wants to sell lotto ticket for 50% of value. Mmmmm. Hope he’s not smarter than you OP and pulling a fast one on you.

 

[ChumpChange]

He stole the ticket.

 

[bobbytheboozer]

Seeing double lol

By the end of the night, im amazed i wasn't sleeping in a bush off the side of the freeway. Lol

 

[HALLETT BOY]

If he owes back child support, state or Fed taxes , judgement , the State might seize it .

 

[rrrr]

Child support, taxes, or some other liability is driving this. Verify the ticket is legitimate, hand him the $10K. Do it before he offers someone else the chance to make $5-$7K for the price of a stamp.

Several years ago, I found a Texas Lotto quick pick ticket on the floor at work. I looked at the date, it had been on my desk for two months, then had fallen on the floor. After my desk chair had rolled over it for a couple of days, I had picked it up. The jackpot was $55 million.

I checked the numbers online. One match...two match...three match...four match...this is getting good...five match...Holy Mother of God...six...awww, motherfucker!!

So close to becoming one of the idle rich. Crap. But because the jackpot was $55 million, the five outta six match paid pretty good. It was worth $3,200.

I would have had to pay about $900 in taxes on the winnings. My wife had a friend with three kids, and her husband made about $42K a year working at Walmart. The poor guy just wasn't smart, God bless him, and the wife made a little money working at a daycare center. They didn't have much, but they were a happy family.

Anyway, I figured out if she cashed it in, their tax liability would be about $300. I told her if she would do that, I would give her $500. I saved paying $400 in taxes, and she made $200. Everyone liked the outcome.

 

[sirbob]

JG Wentworth...

 

[spectra3279]

A buddy of mine just won $20k on a bingo scratcher. Hes not very well off and hit me up to see if i wanted to buy it for 10k . i was like hell yess im all ovet that! Just looked at what the state takes right off the top. 25%..which is $5000! Fucking nuts!. So i read the procedure is to get a pic taken at the place of purchase and send the ticket and a form to Sacramento . 6-8 weeks later a check will be in the mail for $15k . So on a 10k investment ill make $5000 in 2 months. What say yeeeee? Seems sketchy.. What if it gets lost in the mail.. Out $10 g's! . Plus the tax liability on 20k.

Don't forget the federal taxes.

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[Rondog4405]

Why does he need you? Just don’t get why selling it to you benefits him.

He wants cash now.. Doesnt wanma wait 2 months

 

[Rondog4405]

So you pay him 10k in cash (which he won’t claim) so any creditors don’t know he has it.

You get 20k which is 15k which after your state and federal taxes is probably 10k? I’m only assuming but seems like almost a wash for you.

Oh he cant cash it. He has back child support that would eat it all up. He was gonna have his 18 yo son claim it and stick him with the tax. Lol.

 

[Rondog4405]

Is your buddy from Nigeria?

Might as well be.. He lives in lil africa.. (Berdoo)

 

[WYRD]

It could be that the guy owes back taxes or child support or possibly has a warrant. Perhaps he has a family member who works for the lottery. All of which would make him ineligible to collect his winnings

 

[Rondog4405]

20K is nice but not a life changer, for most. Yes, it does sound like your buddy may need the money asap. But, the whole deal seems to have warning signs written all over it. Why not just help walk your buddy through it and get him the max you can. Tell him what a dumb shit he would be if he goes back to drugs. Does the 5K really mean that much to you?

Well on top of the past drug issues..they just had another baby.. (Just what they fn needed) . i was looking at it as easy money..and helping him with cash he obviously needs asap. The more i researched it ..im leaning the other way. Sketchy handing over 10k and waiting around hoping it all goes thru

 

[spectras only]

Am not sure about scratch tickets, but lotto tickets need to be signed by you to be the rightful ticket holder.

 

[Riley1]

Offer him 5k.

 

[Rondog4405]

If he owes back child support, state or Fed taxes , judgement , the State might seize it .

Exactly his issue.... Was gonna Have his son claim it.. Told him to just have his wife turn it in..

 

[Rondog4405]

Really? Then he shouldn’t be playing the lottery if he needs money that bad.

Friend that has/had a drug problem wants to sell lotto ticket for 50% of value. Mmmmm. Hope he’s not smarter than you OP and pulling a fast one on you.

Nah..hes a good guy.. Has fallin on some hard times and is slowly digging himself out of the hole. He used to work for me until his past problems interfered with my work. For a guy with probably $800 to his name .. A pile of cash is worth taking now than waiting 2 months .. At least thats what he says.. Lol

 

[Rondog4405]

Am not sure about scratch tickets, but lotto tickets need to be signed by you to be the rightful ticket holder.

Then i heard that they could possibly look at the stores cameras to verify its not stolen..

 

[Bobby V]

Am not sure about scratch tickets, but lotto tickets need to be signed by you to be the rightful ticket holder.

I know a few people that give scratchers away as gifts for Xmas or birthdays....

 

[Rondog4405]

Offer him 5k.

Knowing him he just might take it.. Lol. Too much of a gamble on my end.. Think ill keep my 10k where its at.

 

[n2otoofast4u]

I'm a participant if he can wait a couple days for me to get all the stuff straight. Good return at these numbers.

 

[robby dmax]

Nah..hes a good guy.. Has fallin on some hard times and is slowly digging himself out of the hole. He used to work for me until his past problems interfered with my work. For a guy with probably $800 to his name .. A pile of cash is worth taking now than waiting 2 months .. At least thats what he says.. Lol

So then he should jump all over 5k..it sounds like if he cash's it he will end up with nothing.

 

[Kachina26]

Didn't read all the responses, but that seems fishy. Tell him to call 1 800 cashnow, they'll hook him up and rape him about the same as he's willing to be raped. Just seems too good to be true.

 

[Sandlord]

he should pay his back child support payments with it

 

[Spudsbud]

#1)
if it sounds too good to be true......
#2)
tax rate on gambling winning is higher than earned income.
#3)
Smells fishy.....
Youre smart to walk away.

 

[Havaduner]

I have a customer that's business is next to a liquor store. He does this all the time. Started with a couple of his employees, they didn't want to claim the prize due to child support, tax situation, didn't want to wait etc etc.... He does the same thing, guy will walk in, 50% of winning value paid in cash on the spot, and he walks out. My customer claims the ticket, waits and gets his money a few weeks down the road. Says he gathers up losing tickets to turn in to his accountant at tax time to show his loses.

 

[E4L]

I’m in if you pass


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[milkmoney]

Offer him 5k.

Exactly. And if he refuses , tell him to pound sand.

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[rrrr]

Then i heard that they could possibly look at the stores cameras to verify its not stolen..

Lottery tickets are bearer instruments. If it's in your possession, you are assumed to be the rightful owner. That's not absolute, though. Another party can file a lawsuit for possession, but it's not easy to win.

Scratch offs stolen at a point of sale are worthless. The bar codes for each roll of tickets are recorded several times along its journey from the printer to the store. If a robbery occurs, the lottery cops look at the possession and sales records.

The consecutive numbers on the rolls track sales, and if a roll in the dispenser has been stolen, those missing tickets are voided immediately.

Printed Lotto tickets are handled similarly. If someone asks for a printed ticket, then runs out of the store with it, the computer simply recalls the numbers just printed and voids them.

How to fight lottery theft has been figured out for a long time. Some guy in East LA isn't going to beat the system.

 

[rrrr]

#1)
if it sounds too good to be true......
#2)
tax rate on gambling winning is higher than earned income.
#3)
Smells fishy.....
Youre smart to walk away.

What's fishy about it? The ticket is either good or it isn't, and a visit to 7-11 can confirm it.

If the guy cashes it in, the state is going to seize it for back child support. If he sells it, he avoids the confiscation.

Tax rates on gambling winnings in California are the same as taxes on other sources of income, according to multiple sources I researched. There is a 7% withholding on the winnings, and they are reported as income on federal and state returns.

This shit happens all the time. EBT cards are also traded for cash every day. Not much difference.

 

[Tireman]

Offer him 5k.

THIS

 

[Rondog4405]

He found a relative to give him 10k.. 6 now and the remainder when the buyer gets his check. I offered him $5500 if the other guy flakes.. We'll see..