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Best Odds to win a Million dollar Lottery Raffel !

WIN  D's avatar - q05Q0

   1 in 31,000 Odds chance to win a Lottery Raffel worth 1 MILLION Dollars !  It's real ... it was on Fox news.  Still some tickets left ....

            A million dollar HOUSE !  

          You buy a ticket for 50 bucks..... only 31,000 tickets will be sold.... winner drawn Dec 31st.  !  

    This really is the best bet for the money ..... a lottery raffel of this size is a great shot at a real fortune.

 

                http://www.fiftydollarhouse.com/        Dance

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a million doller is nothing these days

WIN  D's avatar - q05Q0

The point here were  the greatODDS ......of 1 in 31,000 to win that much ...... ...not the amount.

 

   If you find better odds than that with that kind of payoutanywhere on the planet ......please post it. 

 

                                                                           Patriot

RJOh's avatar - chipmunk
In response to WIN D

When you think about it, 31,000 tickets at $50 each the odds are actually 1,550,000 per dollars spent.  A pick 5/39 game has odds of 575,757 per $1 ticket or 1 in 11,516 with $50 worth of tickets.

Coin Toss's avatar - shape barbed.jpg

Good point RJOh.

Also, I maybe be wrong but whoever wins this house, aren't they looking at taxes on a priize worth $1,000,000 and property taxes?

If a working slob wins it and can flip it right away, that's one story. If they plan to occupy it it could become an albatross.

Shawn67's avatar - Lottery-061.jpg
In response to Steven948

Soooooooooooooooooooo.......I guess you're saying that $50 for a chance to win $1,000,000.00 is not worth it???

ThatScaryChick's avatar - giphy11resized
In response to Steven948

Says you. I wouldn't turn down a million dollars.

Littleoldlady's avatar - basket

Now the number is 32,500 so they must be racking in the bucks.  Personally, I wouldn't want to win it because I couldn't afford to live in it, couldn't pay the tax bill, probably wouldn't be able to flip it, couldn't get a loan against it...and sure as heck wouldn't be able to rent it out for 40 thousand a month.

GamerMom's avatar - tails

i'd much rather pay $20 for the FLorida Lottery Raffel to win a million dollars straight up. 

RJOh's avatar - chipmunk
In response to Littleoldlady

This is not the first time someone had a big old family home they thought were worth a million bucks that they couldn't sell for half that amount and the real estate taxes and maintenance was sending them to the poor house.  Having a lottery that will bring in over a million dollars to get rid of it is a good idea if it works.

justxploring's avatar - villiarna
In response to GamerMom

I agree, but when I look at the "great" odds, I still say to myself "Okay, there are going to be 9 winners in Florida out of $1 million tickets sold.  So, although they keep advertising "Best Odds Ever" there will still be 999,991 people who don't win the million.  I wish they had more lower tier prizes.  After the million, the next level is $50,000.   I'd be happy winning $50,000 but $20 is a lot of money for 1 play.   IMO they should have a few $250,000 prizes and a few $100,000 prizes.

Still, I'm going to click on your link.  Sounds very interesting.

WIN  D's avatar - q05Q0

  Interesting how folks don't even pause to look at the strength and power of those odds ......at all.  

  It sorta reminds me of the fella who just bought a 2007 Ford Taurus for 4,000 dollars. Great Deal huh ? Never mind the car had over 225,000 miles on it .  

 

   Plus .....if anyone at Lottery Post wins that  Million Plus ++ dollar House ......

 Me and a lotta other folks will be tickled to death ....to take it off their hands for a HALF MILLIONtax free dollars within 24 hours. 

                                       $$$$$$$$$     Lovies

justxploring's avatar - villiarna
In response to WIN D

I'm reading all the links from the site.  So far, it looks like a great way to sell a home.  However, if you win a house, you better be prepared to pay the taxes and upkeep.   Of course, you could always raffle it off if it doesn't work out!   I suppose if you own a house you can rent it until you resell it. 

Any CPAs here?  I'm pretty sure you have to pay Federal and State income tax on the home you win before  taking possession of it.  So if it is appraised for a million bucks, then you might need to pay the IRS $250,000 before you even collect your prize. Not sure about the State of Maryland.  I remember when HGTV had a Dream House contest and I read the fine print.   I think the home was valued at $400,000 and in order to be declared the legal winner & move into it, you had to show the ability to pay $100,000 in income tax.   That could probably be done by taking out a mortgage on the house, right?

justxploring's avatar - villiarna
In response to Coin Toss

Sorry, read your post after I wrote my comment. Embarassed I am pretty sure you're right, Coin Toss.   So you have to pay Federal & State income tax as well as property tax.   Regarding flipping, I'm not sure you can even take possession of the house or live in it for very long without paying the tax on the prize, so you'd have to take out a mortgage on it as soon as you win it to pay the taxes, if I'm not mistaken.

GamerMom's avatar - tails

 IMO they should have a few $250,000 prizes and a few $100,000 prizes.

 

I agree.  That's why i didn't play the gas for life game because there were so few good prizes. 

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