Get Introduced to Super Lotto
Like any other game of lottery, Super lotto is a game of luck and chance conducted in California. California’s Super lotto plus is offered in 19,000 outlets and is one of the most famous lottery games. In order to play this game of chance, you need to be 18 years and above.
Once you buy a buy a ticket, you will be asked to pick 5 numbers from a lot of 47 numbers and one mega number from the range of 1 to 27. The price of the ticket is just .00. The numbers you choose will be printed on your super lotto ticket. The number combinations can be placed 1 hour before the draw takes place. However, some locations have different rules regarding cut –off times. The California super lotto plus is drawn twice a week on Wednesdays and Saturdays at 7:57 P.M. If you do not have access to a television, you could check the results online.
What Happens after Winning Super Lotto Plus
If someone has a ticket with the same numbers as the numbers drawn, the person wins the jackpot. There are two ways in which the winner could claim the prize. With the option of a lump sum payment, the amount will be reduced by 40-50%. Apart from this reduction, the prize money will also be subjected to US federal tax.
The federal tax imposed on the prize money will be somewhere between 25% for residents of the United States and about 30% for non-residents. In other words, when the winner opts for a lump sum payment after winning the Super lotto plus, the amount received in hand would be anywhere between 25%-40% of the total prize money.
The option of annual payments over the period of 26 years is also subject to the tax imposed by the government of the USA. However, in this case, the winner doesn’t owe anything to the lottery company and is entitled to receive the entire amount by winning the super lotto jackpot. If the winner has long term financial plans, this mode of payment is quite useful, as it guarantees regular payment.
One of the important concerns raised by people who prefer an annual payment is the possibility of the winner dying over time. In case the winner dies before receiving 26 annual installments, the payment will be given to the beneficiary recommended by the winner before death. While availing the super lotto plus winnings through annual installments, the winner will be asked to fill out a form in order to recommend a beneficiary.
Super Lotto is played and enjoyed by millions of people around the world, and with a bit of strategy and effort, winning the jackpot is an achievable target.
David is an online expert author. The excellent informative articles written by him are published in topmost Ezines. The key areas of his work are real estate,casino, investment, communication, relationship, health and fitness etc…
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