The odds of matching five numbers are 1:18,816. Match five of the winning numbers and win an estimated cash prize of two thousand dollars ($2,000). The odds of winning the jackpot are 1:3,838,380. The overall odds of winning when playing Lotto are 1:30. Lotto drawings are on Wednesday and Saturday evenings after 9:30 pm at which time ticket sales stop until after the drawing. This may also be accomplished by asking the retailer for Multi-Draw and telling them how many drawings you desire to play. You may choose Multi-Draw by selecting the appropriate box on the playslip and play up to twenty consecutive drawings. You may also ask the retailer for a Lotto Quick Pick and it would equate to the same thing. Mark them on the playslip or choose Quick Pick and the computer terminal will randomly select them for you. To play Lotto simply obtain a playslip from your local lottery retailer and choose six numbers between one and forty.
Cash prize jackpots start out at two hundred fifty thousand bucks ($250,000) and keeps on growing until someone wins it. Lotto is easy to play and best of all, the jackpot gets paid out to the lucky winners in one huge lump sum. Lotto was the first lottery available starting in 1992. Louisiana Lotto is another exciting lottery game available in Louisiana. Tickets are only one dollar ($1) and are available at any Louisiana State Lottery Retailer. The PowerBall lotto is a multi-state lottery with a multi-million dollar jackpot. Since 1995, Louisiana residents and its visitors have had the pleasure of playing the PowerBall lottery. State and Federal Laws and Regulations require participants be a minimum of 21 years of age to purchase lottery tickets. There are so many that you're bound to find a favorite of your own. All this and I've yet to even mention the Instant Scratch Ticket lotto games. Everyone loves Pick 3 lotto and Pick 4 lottoas well. Cash Quest lottery is another crowd pleaser with a $50,000 jackpot prize. You could play Lotto, which pays out the jackpot in one lump sum. You can play the PowerBall lottery, which is a huge multi-state, multi-million dollar mega jackpot lotto game. There are exciting lotto games with huge cash prizes every day. Louisiana Lottery is well established and is as fun and exciting a state to play the lottery as any other state, if not more so. Betting on sports futures, props and lay bets.
The Lottery encourages all players to seek financial advice before claiming a large jackpot prize.Īs with all claims, the names of those receiving prize funds and their city of residence is public record. When claiming a prize as a legal entity, the legal document organizing the entity must list the name of each member of the group, their city of residence, and the portion of the prize each person will receive. This simplifies the tax reporting and prize distribution for a group of people receiving payments over an extended time. While it is not necessary for a group of people to form a legal entity to claim the cash option, the Lottery asks a group of winners to form a legal entity with an assigned tax identification number for a jackpot prize paid in annual installments. The group members must decide on one payment option it is not possible for some group members to take the cash option and others to choose the annuity. The Powerball or Mega Millions jackpot prize may be paid in the annuity payment format or the single payment cash option. The Federal Form 5754 allows the Lottery to send a separate W-2G tax form to each individual winner noting the amount won and withheld on their behalf. The person receiving the check for the group also provides picture identification and is responsible for distributing the winnings to the group members.įor a prize paid in a single payment, the check recipient may choose to complete a Federal Form 5754 that ensures the tax obligation of the prize is distributed among the group members according to the gross prize amount of each person’s share. Each member of the group provides a completed IRS Form W-9 for tax reporting purposes at the time of the claim. The prize check is issued to either one person or legal entity (partnership, trust, etc.).
The prize on a winning lottery ticket may be split among a group of ticket owners however only one prize check is issued.
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