Some lottery games aren’t all they’re cracked up to be. They often times come with hidden fine print and they don’t want you to know about it. This could be a big deal-maker – or a deal-breaker – for you, but only if you know what to look for when it comes to how to play the lottery.
For example, our country’s Powerball didn’t have a jackpot winner on Saturday after weeks of no-wins. It may go to $30 million this coming weekend. But here’s the hidden fine print… $30 million is as high as it’s allowed to accumulate. Then it MUST be drawn and the prize distributed.
If no-one gets all 6 numbers plus the Powerball number, the jackpot will be divided up and go to those 2nd division winners who have 5 numbers with the correct Power ball lottery number.
So if you expected your chances of winning lottery jackpots to be higher, this is not the game you should be playing right now. Check and see whether your lotto game has restrictions like this.
How to Play the Lottery Strategy
Another lottery strategy when it comes to how to play the lottery: Some countries and states give out lottery prizes tax-free – but some don’t. Do you know which ones?
You should. Depending on the tax demanded, it makes up to 40% difference on your winning figures, and you could be taking home far less than you thought you would.
And which prize package should you take… an Annuity (the prize paid out by installment over 20 years or more), or a Lump Sum? The difference will surprise you.
Sometimes the information gets plain nasty. For example, in some countries or states, if you give any part of your winnings to a family member, it is considered a gift – and you pay additional tax or a duty on it. Not many people know that.
How to Play the Lottery Tips
Now’s the time to take a good look at your current lottery game, and check it out for fine print issues like these. You can usually find it easily on their corresponding websites.
And any of those rules could take the fun out of your lottery win for life!