How the Lottery works in the USA

In most states in the United States and the District of Columbia have the lottery, this a form of gambling that is state run with many states having different games including instant-win, daily games, scratch-off games and plenty more.

The “game” with the biggest amount of money to win and the one everyone aims to concur is the Jackpot, which is mainly always the Lotto. How the game works is by picking 6 numbers from a set of balls, the balls are number from 1-50 but this may vary sometimes. A machine known as the Gravity-pick Lotto machine randomly draws out a number at certain intervals, these are very much at random as the balls are spun around with no guarantee as to which ball will come out.

There are many of factors that are involved whilst playing the lotto, such as the price money, example why is the pay-out half to what the jackpot amount is?

New York has the most complicated lottery systems in the country, this is because of the payout system. There are a few to choose from such as if you chose a series of annual payments, this means when you bought the ticket you opted to get paid out over a certain amount of years e.g. 26 years to reach your total winnings of $10million for example. This could be highly taxed on annually which would result in you glotto machineetting less of the actually winnings after the first initial tax is deducted.

Most winners do not choose this option, roughly 80% of the winners would opt for a lump sum payment option and half of the winning jackpot would instantly be taken leaving the winner with half of the actual jackpot.

Although disheartening to only receive half of your winning jackpot lotto money the best way to capitalise on your 50% pay out would be to invest your money to expand your interest.

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