The raffle drawing was held on March 17th — St. Patrick's Day — a day traditionally thought of as "lucky". Four millionaires will certainly think so.
In addition to four $1 million top prizes, the St. Patrick's Day Millionaire Raffle also awards five prizes of $100,000 and 500 prizes of $1,000.
Millionaire Raffle is a raffle-style game offered by the Illinois Lottery, with a limited number of $20 tickets. For this drawing 500,000 tickets were made available for purchase.
With so few tickets available, Millionaire Raffle offers the best odds of any Illinois Lottery game to win $1 million.
Unlike other lotto-style games, the only way to win a prize is to match one of the six-digit numbers drawn exactly. (The numbers shown on the results page are represented as seven-digit numbers, probably because the Illinois Lottery is leaving open the possibility of larger quantities of tickets in future draws.)
Matching some of the correct digits or matching a number in a different order does not qualify for a prize.
All prize levels are paid out in cash, including the four jackpot prizes.
Winning tickets must be redeemed within one year of the drawing date.
Quote: Originally posted by Steven948 on Mar 19, 2008
millionaries? congratulations to them but what they really won is a promise to be paid 50 thousand a year less taxes right?
I do agree that winning a million dollars doesn't automatically make a person a millionaire. It really depends on what the winner's net worth is at the time. After taxes the prize isn't even close to a million, but many people either have equity in a house or own a car, have a 401K, etc.
I can't answer your question since I don't live in IL, but here the money is paid all at once. Still, no matter how bad the future looks to us, getting $50,000 a year for 20 years would be a real blessing to me.
We've had this discussion before on LP and IIRC, we all agreed that you aren't automatically a millionaire just because you win $1M. When I think of a millionaire, I think of a person with over a million dollars in liquid assets.
Congrats to the four winners! I'll bet it's the best St. Patty's Day you've ever had. Drink a little extra green beer -- you've earned it!
millionaries? congratulations to them but what they really won is a promise to be paid 50 thousand a year less taxes right?
Nope. Illinois Lottery says ......
All Millionaire Raffle prizes will be paid in one payment. Odds are based upon 500,000 tickets sold. Overall odds of winning any prize are 1:982.32.
I do agree that winning a million dollars doesn't automatically make a person a millionaire. It really depends on what the winner's net worth is at the time. After taxes the prize isn't even close to a million, but many people either have equity in a house or own a car, have a 401K, etc.
I can't answer your question since I don't live in IL, but here the money is paid all at once. Still, no matter how bad the future looks to us, getting $50,000 a year for 20 years would be a real blessing to me.
We've had this discussion before on LP and IIRC, we all agreed that you aren't automatically a millionaire just because you win $1M. When I think of a millionaire, I think of a person with over a million dollars in liquid assets.