Rules vary according to the applicable laws and regulations in the jurisdiction where the ticket is sold, and the winner's residence (e.g. if a New Jerseyan wins on a ticket bought near their workplace in Manhattan). Mega Millions winnings are exempt from state income tax in California; while Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington state, and Wyoming do not have an income tax. On the other hand, some residents of New York City and Yonkers, New York pay three levels of income tax, as these cities levy income taxes.
Even though some scratch cards costing as much as $50 in Texas and $30 in Massachusetts, state lotteries are exempt from Federal Trade Commission “truth in advertising laws” The Federal Communications Commission prohibits the broadcast of lottery advertisements, but has exemptions for lotteries “conducted by a state acting under the authority of state law. Hence, TV commercials like “The Possibilities are Endless.” (Lotteries raise over $70 billion a year, according to the North American Association of State and Provincial Lotteries. Profits from the Powerball are used to fund public projects approved by state legislatures.)
The minimum jackpot prize is a $15 million annuity disbursed in 30 payments over 29 years which is something many people would elect to do.The 30 annuity payments are not equal but based on an increasing rate schedule. For example, the first annual gross annuity payment on the base $15 million jackpot would be approximately $267,000 while the final payment would be approximately $834,000.
The advertised estimated jackpot represents the total payments that would be paid to jackpot winner(s) should they accept the annuity option. This estimate is based on the funds accumulated in the jackpot pool rolled over from prior drawings, expected sales for the next drawing, and market interest rates for the securities that would be used to fund the annuity. The estimated jackpot usually is 32.5% of the (non-Power Play) revenue of each base ($1) play, submitted by game members to accumulate into a prize pool to fund the jackpot. If the jackpot is not won in a particular drawing, the prize pool carries over to the next drawing, accumulating until there is a jackpot winner. This prize pool is the cash that is paid to a jackpot winner if they choose cash. If the winner chooses the annuity, current market rates are used to calculate the graduated payment schedule and the initial installment is paid. The remaining funds in the prize pool are invested to generate the income required to fund the remaining installments. If there are multiple jackpot winners for a drawing, the jackpot prize pool is divided equally for all such plays.
The American Powerball originally started life way back in 1988 and was known as "Lotto America". In 1992 this became the Powerball lottery, with the first official Powerball draw being held on April 19th, 1992. The game has grown and evolved over the years with new States joining (now totalling 44 States) and various changes being applied to the ball and prize structure. These include a change in the annuity prize payments from 20 yearly payments to 30, and the addition of a cash option for the jackpot. In addition, players are now able to purchase their Powerball lotto tickets online.
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There are 16 different European countries which participate in EuroJackpot, including Germany and Spain. Until recently this meant that we couldn't take part in the EuroJackpot lotto unless you were among the 16 main countries because there was simply nowhere to buy tickets from. Now by betting online with Lottoland you can take part in the world's best lottery from your laptop, tablet or smart phone from anywhere in the world.
The January 4, 2011 Mega Millions drawing drew attention for its similarity to "The Numbers," a sequence of six numbers that served as a plot device of the ABC drama series Lost. One such usage involved character Hugo "Hurley" Reyes playing the sequence in a similar "Mega Lotto" game, winning a nine-figure jackpot and subsequently experiencing numerous misfortunes in his personal life. The first three numbers (4, 8, 15) and mega ball (42) in the Mega Millions drawing matched the first three numbers and the final number (which Hurley also used as the "mega ball" number) in the Lost sequence. The last two numbers in the Mega Millions drawing did not match the last two numbers that were used in the scene. Those who played "The Numbers", including from quick-picks, won $150 ($118 in California) in a non-Megaplier game; $600 with the multiplier.