Lotto Tutorials

What happens when each lotto number turns into super winning numbers?

If you play super lotto regularly in California, then your ultimate fantasy would be to hit the jackpot that could simply be around 7 million dollars or would have swollen up to millions more in case of no previous winners. This is what would happen if each of your lotto number turned into super winning numbers.

To play the California super lotto, all you need to do is to choose 5 numbers between 1 and 47 and one Mega Number between 1 and 27. This game is different from other lotto variants such as super lotto seven plus or lotto 649 where you might have to choose 6 numbers between 1 and 49. If you manage to get 3 of your 6 numbers right, then you can win 5 dollars and if you get 4 out of the 6 numbers right then you could win around 60 to 100 dollars. 5 wining numbers will fetch between 1200 to 2500 dollars. But the real fun begins when you get all the 6 numbers right since that will ensure that you get 4 million dollars and above if there are no other winners to share the prize with.

Lotto results are declared on every Wednesday and Saturday night and you can check them on the radio, television, Internet or even with a visit to the nearest lotto retailer. If you have played through a pool, club or syndicate, then you will have to share the jackpot money with other players since your winning numbers will still be considered as a single ticket. However, if the jackpot has not been claimed over a longer period, then it can certainly swell up to a very large amount as it did in June 1994, when it shot up to 52 million dollars and was finally won by a single lucky player.

If you do win the coveted jackpot, then you will have a choice of either accepting the prize money in a single cash-down amount, which is usually half as that of the declared amount or alternatively accept it in an Annuity option, where you will receive the amount spread in 26 annual installments.

There are no state taxes to be paid on your winnings but you will need to pay around 25% as federal taxes. The responsibility of paying your taxes, especially if you have chosen the annuity option will rest upon you, whereas if you have chosen the cash down option, then you will receive your prize money after deduction of tax. Once you are declared as the winner of the majestic jackpot, then you can be sure that your life will change forever. You might also witness the arrival of friends, relatives and even strangers that claim to be your friends asking you for financial help. A better idea would be to consult a tax consultant or any other professional and invest the winnings in safe places rather than blow everything up over a short period of time.

Thus, you can be sure of massive change once each and every lotto number changes into super winning numbers in your lotto ticket. Whether your life changes for better or for worse will depend on how you handle your instant wealth. Good luck and enjoy your dream responsibly.

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