It's a wonder there's any money left to churn thru the windows!
Say there's a $100,000 Pick-4 pool @ Los AL..
-25% Takeout= $75,000.. bombs win, P-4 pays +$5,300 for $1 to 14 tix
Feds pull 25% out of each winning ticket: +$1,300 withholding tax ...
Out of $100,000 bet, apprx.only $56,800 goes back to winners pockets!
(and that's if your state doesn't also hold onto a chunk on your big hit!)
RE-DICULOUS! Govt. taxes me when I earned the cash; taxed it when I bet it; THEN grabs a quarter of my score(
to hold) when I finally do hit it "Big"
!