
How Far Do Your Lottery Winnings Actually Go In Texas? Here Is The Breakdown.
Many of us daydream from time to time about what we would do if we won big playing the lotto. We all have fantasies of buying fancy cars, big houses, and traveling the world. Some of us would pay off all of our debts and make sure future generations are set. Fortunately, the math has been done to put a lotto windfall in Texas into perspective to help us plan better.
You've Won The Lottery. How Far Will Your Money Go?
Let's say that after taxes and any other obligations get taken care of you're left with $5 million left of your lotto winnings. According to a recent study done by BetMGM, here is just how far your windfall will go.
With $5 million in winnings, you could:
- buy 4.6 lifetimes worth of groceries
- buy 11.1 lifetimes worth of takeout
- buy 37.3 lifetimes worth of food delivery
- buy 64 Teslas
- pay off the lifetime debt of 88 Texans (including student, mortgage, and credit debt)
- pay for 156 students to attend 4 years at a Texas state college
- buy 562 trips, including tickets, from Texas to the Summer Olympics
- buy a 35,472-square-foot home in Texas
- buy 714,286 beers
When you compare $5 million to some of the extreme jackpots we've seen recently, it may not seem like much. Just looking at the numbers, though, you'd definitely be set if you didn't go too crazy. Get bottle service; just not for everyone in the club. Buy the dream car; just not 12 of them, maybe.
What Are The Current Lotto Jackpots
According to the Texas Lottery website, the Mega Millions jackpot currently sits at $203 million. The jackpot for Powerball is currently at $54 million. Looking at what you could afford with just $5 million, you could have a really good time with either one of those jackpots.
Powerball drawings take place on Mondays, Wednesdays, and Saturdays. Mega Millions are on Tuesdays and Fridays. Of course, your chances of winning are beyond slim. Only play with what you can afford to lose.
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