Mega Millions / Powerball / Euromillions -- Which is better?

**xander** · 25th June 2009, 08:42 AM

Do you know about the taxes of OzLotto?
it's really intresting to know the facts.

**olw** · 27th October 2009, 06:19 PM

Originally Posted by xander

Do you know about the taxes of OzLotto?
it's really intresting to know the facts.

I asked OzLotto. Their reply:

"The win for Australian residents is tax free. However overseas winners would need to check the tax laws in their own country - they differ."

Therefore, they have a zero tax retention and no taxes in Australia... but as they said, you will have to pay your own country taxes.

Good luck

**EuroMilion** · 28th October 2009, 10:38 AM

Originally Posted by olw

I asked OzLotto. Their reply:

"The win for Australian residents is tax free. However overseas winners would need to check the tax laws in their own country - they differ."

Therefore, they have a zero tax retention and no taxes in Australia... but as they said, you will have to pay your own country taxes.

Good luck

I like your comment "check the tax laws in their own country - they (may) differ."

Looking through the Euromilion T & C the other day I noticed something just as profound

"Anybody can play euromilions but unless you have a residential qualification, you cannot collect any winnings"

This is just my paraphrase from memory, I can dig out the actual rule if anyone is interested.

Is anyone interested?

**EuroMilion** · 5th November 2009, 11:05 PM

More than one week later, obviously nobody is interested!
I am wondering if there is any point in following this Forum?

I welcome comments guys!

**lottomasta** · 9th January 2010, 06:17 AM

Which is the best will vary from week to week. You need to consider:

a) The odds of Winning

b) The current size of the Jackpot, and

c) The cost of playing

Similar situation in Australia, where we have multiple national games. If the Powerball or Oz Lotto Jackpots have just gone off, I do not even bother playing because the odds are massive. But, if either is at record levels, it is probably the best game in town - at the time.

Remember - The Odds of winning do not change, the cost of playing does not change - only the Jackpot amount changes. So, each week you need to re-evaluate which is the best bet.

Also use "relative odds." By this I mean if one game costs $2 to play and another costs 50 cents to play - you get 4 chances at 50 cents, relative to 1 chance at $2. Try to bring everything back to "odds per $1 invested."

Hope this helps.