What is ten percenting?

[Crazy_winner]

In the context of the lottery, "ten percenting" refers to a method or system people use to avoid paying taxes on lottery winnings or to pay them as little as possible. The phrase implies that winners only disclose or report a small portion of their real prize amount—usually around 10%—to the state lottery commission or tax authorities. They do this to lessen the amount of taxes they must pay on their gains.

 

[Baniro]

In the context of lotteries, "ten percenting" refers to a strategy where a group of individuals pool their money together to purchase lottery tickets collectively. Each participant contributes an equal amount, typically 10% of the total cost of the tickets, hence the term "ten percenting."

The idea behind this strategy is that by pooling resources, participants can increase their chances of winning without individually bearing the full cost of purchasing numerous tickets. If any of the tickets purchased by the group wins a prize, the winnings are then divided equally among the participants.

Ten percenting is a way for people to participate in lotteries as a group, spreading out the cost and increasing their chances of winning.