If you’re a fan of the lottery, you might be aware that the first recorded lotteries offered tickets with money prizes. Low-country towns began holding public lotteries to raise money for town fortifications and poor people. It’s possible these lotteries date back even further. According to a record from L’Ecluse, France, a lottery of 4,304 tickets raised florins, or approximately US$170,000 in today’s money.
The lottery’s beginnings are not well-known, but it’s been documented since the Chinese Han Dynasty. The lottery dates back to 205 BC, and the Chinese were known to have run a number of them in order to finance major government projects. The Chinese Book of Songs even mentions a lottery as “drawing of wood” or “lots.”
In addition to online lottery sales, some state lotteries are considering expanding their online reach. Though only a few states currently offer online lottery tickets, more are expected to follow suit. Aside from increasing state revenue, lottery sales on the Internet allow fans to access their favorite games anywhere and anytime. However, there are some anti-gambling groups that do not like the idea of lottery expansion. Those opposed to online lottery sales may want to look for an alternative way to play the lottery.
Super-sized jackpots have become a huge marketing strategy for lottery companies, as they not only drive sales but also receive free publicity on newscasts and news sites. However, many people pool their money to purchase more tickets. For example, 13 co-workers in Oregon bought multiple tickets for a larger jackpot, thereby increasing the odds of a super-sized lottery jackpot. If the tickets match, the excitement level rises. Once the numbers match, however, the winning ticket owner must claim the prize money.
Although lottery winnings are generally not taxable, winnings from these games are usually distributed in lump sums or annuities. However, because of the time value of money, a lump sum is often less than the advertised jackpot once taxes are applied. Annuities are more tax-efficient than lottery lump-sums. While lump-sums are tax-free, lottery annuities are subject to taxes. As such, lottery winnings are taxed differently depending on the jurisdiction and the method of investment.
Today, you can purchase tickets for your favorite lottery online. Purchasing tickets online is simple. Registering with a lottery website allows you to check past results and winning numbers, and you can extend your subscription if you want to. Online lottery subscriptions are becoming increasingly popular and are likely to continue to expand. Unlike in-person sales, online lottery subscriptions allow you to enter state-level drawings and major multi-state drawings from the comfort of your own home. Some states offer instant win scratch-off cards.
Although purchasing lottery tickets is not a sound investment, it is a fun way to gamble. You can log in to play online scratch-off games and win instant prizes of up to $250,000! Pennsylvania also offers an online lottery called the Pennsylvania iLottery. Since 2014, Michigan has offered online lottery play for its residents. Prior to this, it only sold instant-win scratch-off games and ticket games. Now, the state lottery offers instant keno, fantasy five, and lotto 47.