News - Page 8
56 articles
July 9, 2019
You won the lottery, but what about taxes?
First of all, congratulations on your lottery win! You probably already know how much your prize is, but one question remains: how much will I actually get paid? And that depends, of course, on how much will be deduced for fees, taxes, etc. For this, there are several scenarios. Before we talk about those scenarios, we would like to mention some important facts regarding our services at RedFoxLotto. First, we do not deduct any commissions from your winnings. We process your lottery winnings free of charge, even if we handle the contact with the lottery authority on your behalf. Some online lottery operators may charge a percentage of your winnings - we believe that this is not a good business model. There may be a charge for processing your payments, especially if you decide that the money should be sent to you via bank transfer. Such a charge would be whatever the bank we send money from charges us. Your own bank may also charge a fee on their end. Other payment processors may charge fees for money transfers as well. In any case, those charges will be rather insignificant smaller amounts. Bank transfers across borders can be expensive. That means that it does not make much sense to withdraw an amount smaller than 50€ via bank transfer, because you would only receive a much smaller amount in your account after deduction of fees. You won your local lottery If you played the lottery in the traditional way, by purchasing your ticket at a lotto shop in your own country, then the tax question has a rather simple answer: the laws of your country apply. If lottery winnings are free of tax in your country, you have nothing to worry about. If your law says you have to pay taxes, well then there is no way around paying them. Two things can happen, depending on how your lottery authority handles things. Either the lottery authority deducts the taxes on those winnings right away and transfers the due tax to the government, or they pay you the full amount but they will also notify your tax authorities about your winning. In the second case, you will have to declare your winnings and pay the taxes yourself. Now let's talk about the situations you may find yourself in after buying your lottery ticket here at RedFoxLotto and you won a prize. As a matter of fact, playing foreign lotteries online has more advantages than the simple fact that you can go for bigger international jackpots! The lottery you played online deduces the taxes right away In this scenario, you will get paid the amount that remains after taxes. For example, if you were to win the Powerball or Mega Millions jackpot as a foreigner, 30% of your winnings will be taken by the US tax authorities. If you think that this is too much, well residents of the US have to pay 25% in government taxes plus another 14,6% in federal taxes. What about Euromillions and Eurojackpot, are those tax-free? For these two lotteries, whether winnings are tax-free or not depends on where the tickets were bought. In the UK, Austria, Belgium, France, Ireland, and Luxembourg lottery winnings are not taxed. In Spain and Portugal, you will have a 20% deduction for taxes, and in Switzerland, it's 35%. At RedFoxLotto, we buy tickets for Euromillions and Eurojackpot only in countries that do not charge taxes on winnings locally. You still have to check your local tax situation - see below. The same 20% tax would be applied if you were to win a large amount in either El Gordo or La Primitiva of Spain. The lottery you won at pays out tax-free That is the best that can happen to you. You get the full amount paid out, and all you have to worry about is what to do with the money and about the tax laws at home. But be sure to read the following as well. What about taxes in my country of residence? Well, first of all, you have to check your local tax laws. If your government taxes lottery winnings, you will have to declare and pay them as soon as the money enters the country. But there is one thing you also need to know: does your country of residence have a "double taxation treaty" with the country of the lottery? If it does, that means that if you have already paid taxes on your lottery prize in the country where the lottery is held, you do not have to pay those taxes one more time at home. There is one important thing to consider though: is the tax rate in your country higher than the tax rate of the country holding the lottery? Let's say you won 10 million in the US, so the US taxman deduces 30%. If the tax in your country is 40%, you may have to pay the difference of 10% at home. What else can I do after winning a lottery jackpot in a foreign country? Please do not take this as valid legal advice, but think about this: If you win the jackpot in the US or any other large amount in any other country outside your country of residence, then you may want to travel to that country and pick up your check in person. At this point, you could decide not to return to your home country right away. How about a well-deserved vacation in a nice and sunny place like, for example, the Cayman Islands? We are sure most financial institutes there will be happy to provide you with advice on what to do with that check…
Read More June 22, 2019
Want to know the Euromillions draw results and check your ticket?
So you purchased a ticket for Euromillions and now you want to check whether you have won something. There are several ways to go about it. You just have to choose which way you want to do it. Whenever I want to check my Euromillions, I want a little suspense . Ideally, I'd like to watch the draw live on TV, but that is not always an option. First off, I do not live in a country where Euromillions tickets can be bought at the lotto shop. More about that later … So, the draw is not being televised where I live, and also I don't want to sit in front of the TV and wait until the draw is happening. This is what I do: Watch the Euromillions draw on Youtube to find out if you have won Checking whether you have won something at Euromillions while the draw is happening is, of course, the most suspenseful way to do it. But if you have missed the draw (which is held on Tuesdays and Fridays in Paris, at 20.45 CET, by the way), you can still watch the draw by streaming it on Youtube . Just use the search function for "Euromillions draw (date)" and you can watch the latest draw and compare the drawn numbers to your ticket. Wait for the next day's newspaper Well, that is certainly the worst way to do it. Plus, chances are that your newspaper does not even have the Euromillions results . There are better alternatives. Visit RedFoxLotto There are a number of websites where you can check the results for Euromillions. Ideally, the site you use should display the winning numbers soon after the draw, but most sites have a delay of up to several hours before they publish the outcome. Not so with RedFoxLotto.com - click this link to see the Euromillions draw results . Draw results are being updated almost in real-time here - just after the draw is finished, you can see the winning numbers here. They also list the amounts won in the 13 different prize tiers, plus an estimate of the jackpot for the next draw. And here's the best part: If you do not live in one of the "official" Euromillions countries, you can still get a ticket online. RedFoxLotto.com is an online service for the World's largest lotteries. They will help you get a ticket not only for Euromillions. They also have Eurojackpot, Powerball USA, Mega Millions USA, Superenalotto Italy, El Gordo of Spain and many others. All you have to do is select a lottery, click the numbers you want to play and pay online. It's really that simple. Once you have bought your ticket with them, there is an even easier method to check if one of your Euromillions tickets has the winning numbers on them. After the draw results are out, just log in to your RedFoxLotto account, click on "My tickets". You will see your tickets with the numbers you picked, and all the numbers that match the relevant draw results are highlighted. That way, you can never miss a win. And actually, when you won something, RedFoxLotto will also send you an email telling you that there is a winning ticket sitting in your account. In conclusion, if you cannot buy Euromillions tickets locally, then your best option is RedFoxLotto, where you can buy tickets for the largest lotto jackpots on the planet, and at the same time easily check your Euromillions ticket against the actual winning numbers!
Read More May 24, 2019
How to pay for online purchases?
Whenever you buy something online, you will probably end up with a choice of multiple payment methods. But which one should you choose? To help you find the best method, we will take a look at some of the options and give you information about them our evaluation will mainly be based on three criteria: Security Transaction fees Convenience This article is mostly about payment methods you could use while buying online lottery tickets . But the information is also pertinent to all other goods you may want to buy on the internet. Whether you buy material goods at an online sales site, or digital products of any kind, knowing the upsides and downsides of the best online payment methods is important. Some first thoughts For obvious reasons, your choice of payment method for online lotto will often depend on whether you actually have funds in the account you want to use. If you make online purchases on a regular basis, it is a good idea to always keep some funds in your accounts with the payment services you use often. When you buy online lotto tickets regularly or do other kinds of online gambling, it is important to know that Skrill and Neteller are mostly used for gambling purposes. Therefore, if you do not have an account with either of these two, we recommend that you should register one. That way, you can easily transfer funds, withdraw winnings and stay in control of your gambling transactions by keeping those funds in one single site. Another great option to get the same effect would be a dedicated prepaid credit card. One of the reasons why I prefer Skrill for all types of gambling is the fact that they will even issue you a prepaid debit card that is connected to your Skrill account. So whenever you want, you can even cash out some of your Skrill funds from an ATM machine. One important factor to consider when you choose your online payment method The factor that is often overlooked is the question of the currency the sales site uses. Let's say you buy at a site where prices and invoices are set in US dollars, but then you use a Paypal account set in Euros to pay. Then, on top of the fees that Paypal charges for the transaction, you have to think about the exchange rate. Changing money from one currency to another at your local bank will always cost you money. And some payment processors give you exchange rates that sometimes can be up to 6% worse than what you would pay at your bank! Now let's take a look at some of the payment options: Credit card The most frequently used method for all kinds of payments. Moderate fees, good security and very convenient. But there is always a certain danger of spending too much money (unless you use a debit card, see above). Also, maybe you do not want your gambling transactions to show in your credit card statements. RedFoxLotto offers this payment method for all transactions (in rare cases, country restrictions may apply). Bank transfer The cheapest way to pay online, and very convenient too, but not all online sales sites offer it. Depending on how it works on the sales site, funds can take a few days before they arrive at the destination. Usually, there is no way to dispute a payment once it has been initiated. At RedFoxLotto.com, we use an instant bank transfer method. That means that if you use it, the funds will be deposited in your RedFoxLotto account within seconds. Skrill Great method, especially for online gambling purposes of all kinds. Moderate fees, excellent security. This is the most convenient method in my personal opinion, especially if you get their prepaid Skrill debit card. Neteller Similar to Skrill, including the option of a prepaid debit card. They recently increased their fees, which makes Skrill the better choice. Dusupay A great option for residents of most African countries, or people who do business with African companies. Cool mobile phone wallet. Not sure about security though. Paysafecard This is by far the safest method and the least convenient one at the same time. You can buy a card with a pin code worth a specific amount of money at a shop close to you, paying cash. Paysafecards are for sale in 48 countries across the globe - that is, if there is a shop close to you. Simply go to the website www.paysafecards.com , set the country you are in, and your location. There is an easy search function helping you find shops in your neighborhood where you can buy those cards. Then, you enter the pin code at the sales site, and the value of the card is credited to your account. No fees (paid by the merchant). This is a one-way service, no withdrawal possible. Ecopayz A service similar to Skrill (including the debit card), but their focus is a little less on gambling and more on sales and international money transfers.
Read More April 25, 2019
What are the prizes I can win at Powerball and Mega Millions
Every international lottery has its own structure. When we talk about structure we mean the following factors: the total of numbers to choose from in the pool the number of main numbers you have to pick how many "extra" numbers (like the Powerball number) you must add how many prize levels or tiers there are how many matching numbers you need to win the different prize tiers Also, you will want to know the probabilities (odds) for winning any of the abovementioned prize tiers. We have prepared two tables for you that contain an overview of the most important facts for both Powerball and Mega Millions. Payout chart table for Mega Millions Prize Tiers Prize amount Probability of winning 5 matching + Powerball number Jackpot 1 in 292,201,338 5 matching + Powerball number $1,000,000 1 in 11,688,054 4 matching + Powerball number $50,000 1 in 913,129 4 matching $100 1 in 36,525 4 matching + Powerball number $100 1 in 14,494 3 matching $7 1 in 580 2 matching + Powerball number $7 1 in 701 1 matching + Powerball number $4 1 in 92 0 matching + Powerball number $4 1 in 38 In total, 1 in 24 Mega Millions tickets win one of the prizes from the chart. Payout chart table for Powerball 5 matching + Mega Ball number Jackpot 1 in 302,575,350 5 matching + Mega Ball number $1,000,000 1 in 12,607,306 4 matching + Mega Ball number $10,000 1 in 931,001 4 matching $500 1 in 38,792 4 matching + Mega Ball number $200 1 in 14,547 3 matching $10 1 in 606 2 matching + Mega Ball number $10 1 in 693 1 matching + Mega Ball number $4 1 in 89 0 matching + Mega Ball number $2 1 in 37 In total, 1 in 24 Mega Millions tickets win one of the prizes from the chart We hope that those charts help you with estimating your chances of winning in either of these lotteries. Get your winning ticket now, and best of luck to you!
Read More April 15, 2019
Drawing time for Eurojackpot and Euromillions on TV
Many lotto fans consider watching the lotto numbers being drawn live as an essential part of the attraction. This is certainly also the case for Euromillions and Eurojackpot . If you live in one of the countries that officially participate in those lotteries, then your local or national TV certainly broadcasts either the Eurojackpot or the Euromillions draw, possibly both. But if you had to buy your Euromillions or Eurojackpot ticket online, that means you do not reside in one of those countries. In consequence, you may not have access to any of those TV stations that have live coverage of the drawing events. So, what other options are there? Where to watch the drawing on TV? The solution is quite simple: watch the video of the drawing on www.youtube.com ! Use their search function and type in, for example, " Euromillions drawing live" and you will find a number of live streams to watch. And in case you have missed the exact time and the drawing is already over, use the same search function and type, for example, Eurojackpot drawing" and the date of the drawing. You will find lots of videos for those drawings. When is the Eurojackpot and Euromillions draw? If you want to watch the numbers for Eurojackpot and/or Euromillions being drawn live and in real-time, it is important to know the drawing times. You can find that information below, but watch out for the time zone! Depending on your location, you may have to add or subtract a few hours to the times: Euromillions drawings are Tuesday and Friday at 21.15 h Central European Time. Eurojackpot has only one weekly drawing, which is held at 21.00 h Central European time.
Read More April 15, 2019
Watch the drawing for Mega Millions and Powerball on TV
If you have bought tickets for the Powerball and/or Mega Millions lottery, then you are certainly looking forward to finding out if your numbers have won. Of course, you can simply come back to our website to look at the results. But watching the drawing live on TV will certainly add to the fun, and of course, if you like the suspension, you do not want to miss it. If you are not in the US, then you have probably bought your ticket online here at www.RedFoxLotto.com. In this case, you must always bear in mind that both lotteries are in a different timezone - see below! When is the Powerball and Mega Millions drawing? Powerball drawing time is Wednesday and Saturdays 10.59 p.m. (22.59 h) EST, which corresponds to 5.59 p.m. (17.59 h) Central European time Mega Millions drawing time is Tuesday and Friday 11.00 p.m. (23.00 h) EST, which corresponds to 6.00 p.m. (18.00 h) Central European time Which TV channels broadcast Powerball and Mega Millions draw? The draw for both lotteries is broadcast all across the US by a number of TV channels, such as NBC, ABC, Fox, Telemundo, CBS and many more. But if you live in a different country, chances are that you are not getting those channels. But there is another option for lotto fans from countries outside the United States Drawing for Powerball and Mega Millions on Youtube live streams All you have to do is go to www.youtube.com, enter "Powerball drawing live" and you will find a number of live streams you can watch. The upside of Youtube is that if the drawing of Mega Millions or Powerball has already been done, you can still watch it as a video file . Instead of checking the results on a website, you can still have the suspense of a "live" drawing, although it is not in real-time but recorded.
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