You have read about the different lottery games and how to play them. You have also found several methods of picking lucky numbers. Now it's time for you to fine-tune your game using this section full of insider tips and techniques. Determine what to do and what in order to avoid. Discover ways to set up a lottery-playing budget. Discover different ways to get in touch with your state's lottery. Finally (may the odds be with you), know what to do if you win!
If possible, always buy your own lottery tickets. Do not ask neighbors or friends to pick them up for you. Similarly, do not pick up tickets for others. Do not loan or borrow money for tickets, and do not go halfsies, either. Why? Isn't this a trifling matter -- the same as picking up a loaf of bread for somebody at the store? Not quite. If the ticket doesn't win or maybe if the prize is small, then there is usually no problem. But in the event the ticket turns out to be a jackpot winner, you may have a sticky situation on your hands. At the least, it could possibly be embarrassing. This little favor for a neighbor now involves millions of dollars.
For example, maybe your neighbor said she would pay you the dollar for the ticket later. Fine, you think. What is a dollar? You give her the ticket, and she's now a millionaire. Be honest. Will you perhaps feel you are entitled to a component of the windfall? After all, you did buy the ticket with your own money. OK, it wasn't technically your hard earned money. It was money you loaned your neighbor. But, you did go and purchase the ticket, so you might feel you are permitted to some of the winnings.
What in the event the situation were reversed, and also your neighbor had purchased the ticket for you? Maybe you jokingly promised to split the money with her if you won. Are you aware that she may very well be able take you to court, claiming the two of you made a verbal agreement? No matter what people's good intentions are ahead of the ticket is purchased, not everyone is as honorable as Raul Zavaleta, among the real life winners featured within this book. Once the winning numbers are announced, not everyone will, without hesitation, keep his or her promise to split $40 million.
Are you beginning to see the possible repercussions in this? Why not avoid broken friendships, hurt feelings, and even lawsuits? Buy your own tickets, period. It's an entirely different situation when you give a ticket to someone as a gift, or vice versa -- a present is a gift.
Almost all people discard their losing scratch-off, Pick 3, and Lotto tickets. Of course, what possible use could you've got for those scraps of paper? Think again. If you regularly spend a considerable amount of cash on the lottery, those old tickets may very well be worth cash to you.
The IRS says you can't offset losses against winnings and report the difference. For example, if Mary spends $1,600 per year on tickets and wins only $600, she must report the $600 despite the fact that her losses amounted to $1,000. According to the tax rules, should you have gambling losses, you can claim them as an itemized deduction, but you can't deduct more than the winnings reported. So if Mary itemizes her deductions, she may take only $600 being an itemized loss on schedule A.
On the flip side, if Jim spends $600 and wins $1,600, he too must report the $1,600. But if he itemizes, he can claim the whole $600 as a loss on schedule A since he is permitted to report any losses up to $1,600. Ironically, this law helps winners more than it helps losers. So think positively. Think like a winner, and save those old tickets.
In case you reside in among the explains that does not have a lottery, you may be tempted to enter lotteries in other states. That is fine, provided you go to the place and purchase the ticket face-to-face. You will discover several federal and state laws regarding the lotteries. One is the USA Postal Service regulation that forbids the mailing of unplayed lottery tickets across state lines.
Some states' laws prohibit the sale of tickets by mobile phone, mail, fax, and
situs toto over the internet. If your state has a lottery, it makes little sense to enter either out-of-state or foreign lotteries. Chances are you will find better odds right within your own backyard, without the extra fee or perhaps the risk. Can you imagine winning several million dollars only to discover that you have not actually won it after all? It appears that any time big money is involved, there are actually those that try to get a piece of the action -- illegally.
You'll frequently see advertisements online as well as in magazines and newspapers for books, software, and other media to help you within your goal to win the Lotto. Several of these are reputable businesses and will offer you professionally designed wheeling systems as well as other strategies that could help better your chances. But if one of these companies claims their product is guaranteed to make you the next Lotto millionaire, ask yourself one very obvious question: If they've managed to solve the riddle of how exactly to win a jackpot, why are they running an ad?