How much is lottery money taxed when you win?

[Grant]

How much is lottery winnings are taxes? I know here in the US the IRS taxes a certain percentage of your winnings, but it also depends how you get the money.

What is it like in other countries when winning their respective lotteries?

 

[Kane]

We don't have lottery programs in the country, there are casinos but these casinos are not open to the locals, these casinos are only for foreign individuals. I think the government taxes 40 percent for casinos.

 

[Ononivami1]

We don't have lottery programs in the country, there are casinos but these casinos are not open to the locals, these casinos are only for foreign individuals. I think the government taxes 40 percent for casinos.

It is true that the government received huge taxes on casinos because they knew that casino make huge amount of money . We don't have casinos in my country as well but we used to have in the olden days.

 

[AruneBend]

In my country, what I heard is that the taxes are pretty high, and many people complain about it. I don't like lotteries because I think they're a waste of money, so I don't know exactly how much taxes are.

 

[Kane]

By the way gambling (all types of gambling, online gambling, sports betting, online casino, etc.) is illegal in our home country. However, foreigners can gamble in the casinos.

 

[Ernestnari]

In my country, if you win a lottery, the government would charge you 10% of that winning amount as tax. It is a flat rate for lottery winnings. I think it is a fair charge for almost freely gotten money.