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Kansas Lottery adds 'Hot Lotto' gameNews Story
Mini Powerball is coming to Kansas. Sales for the multi-state Hot Lotto numbers game began Sunday for Wednesday's first biweekly drawing that will include the Sunflower State. Like Powerball, winning Hot Lotto numbers are selected and announced every Wednesday and Saturday. Hot Lotto jackpots are smaller than those offered by Powerball, but players have better odds of winning. The odds are 1 in 16 of getting any winning Hot Lotto ticket for prizes that range from $2 to the minimum $
Mar 14, 2006, 8:42 am - Lottery News

Tennessee lottery winner sues stateNews Story
A woman who won a Tennseess Lottery scratch-off ticket worth over $1 million has sued the state for preventing her from assigning some of her winnings to a financial company in return for a lump sum payout. Like other instant lottery winners, Ethel Newberry of Palmrya wasn't given the option to get the bulk of her winnings in cash up front. Instead, she gets annual payments of about $52,000 a year for a minimum of 20 years. Newberry is asking the Davidson County Chancery Court to allow he
Feb 14, 2006, 11:51 am - Lottery News

Uncle Sam Wins Your LotteryNews Story
Attention, lottery players: If you win a nice big prize, opt to take it as a stream of payments and then change your mind and wish you had taken it as a lump sum, don't expect any special tax benefits if you sell your annuity for immediate cash.Over and over in the past few years and especially since capital gains tax rates were lowered in 2001 lottery winners have sold their rights to future payments and tried to treat what they got in exchange as capital gains.Since capital gains are now t
Nov 28, 2005, 9:12 am - Lottery News

Powerball lottery madness spreads to big mediaNews Story
Exclusive Lottery Post StoryNow that the multi-state Powerball jackpot is sitting at its highest level ever, everyone is taking notice, creating a barrage of big-media news stories.Unfortunately for the public, the big media is making some mistakes.Although the mistakes at first may seem innocuous, they add up to create player confusion. When a lottery game's jackpot reaches the upper-limits, people who don't normally buy tickets get interested. And those are the people who will be most affect
Oct 18, 2005, 8:40 am - Lottery News

One ticket wins $4 million Illinois lottery jackpotNews Story
Six numbers on a ticket sold from Casey's General Store in Mackinaw, Illinois, will bring a tremendous change to the life of one individual.As of Sunday afternoon, the person who purchased the winning ticket to the $4 million Illinois Lottery jackpot had not come forward. We don't know who it is of or if they even know, but we're excited. Casey's clerk Patty Wilson said.The only ticket from Saturday's drawing that matched all six numbers - 10,19, 38, 39, 42 and 49 - was purchased, possibly Frid
Oct 17, 2005, 8:03 am - Lottery News

Powerball lottery states report brisk sales for huge jackpotNews Story
Hopeful lottery players are plunking down their money for Powerball lottery tickets at an astounding pace, in advance of tonight's estimated $300 million jackpot drawing.USA Mega will display the drawing results minutes after the drawing, which occurs at 11:00 PM Eastern Time (8:00 PM Pacific Time).Also on www.usamega.com, players will be able to see the Power Play number drawn, and within an hour or two the website will announce whether or not there was a jackpot winner. At that time, the Wedn
Oct 15, 2005, 4:55 pm - Lottery News

USA Mega debuts Powerball lottery annuity calculatorNews Story
An Internet web site offering information about the United States' largest multi-state lottery games, Mega Millions and Powerball, today introduced a new feature for Powerball players.USA Mega (www.usamega.com) created a new annuity calculation feature in response to the new Powerball rules regarding jackpot annuity payouts.Prior to the August 31, 2005 Powerball drawing, jackpot winners who chose the annuity option would receive 30 equal-sized payouts, distributed over a 29-year period.Starting
Oct 9, 2005, 11:49 am - Lottery News

$250M lotto mystery is talk of RutherfordNews Story
The Mega Millions winner watch in Rutherford, New Jersey, entered day two yesterday with much anticipation but without anyone stepping forward to claim the $250 million jackpot.Yogi Patel, owner of the Leprechaun News II store where the winning ticket was sold at about noon on Friday, bundled newspapers in twine and spoke of the newfound fame for his business. People are happy when they find out somebody won from my store, Patel said. Business is increasing. People are now thinking this store
Sep 19, 2005, 11:05 am - Lottery News

Powerball lottery changes go into effect SundayNews Story
Changes to Powerball, the country's largest lotto game, take effect Sunday (August 28), with two new numbers added to the mix.Lottery players will be able to buy the new Powerball tickets beginning Sunday morning, and the first drawing held from among 55 white balls and 42 red balls will be Wednesday night (August 31).The 29 lotteries that operate Powerball announced the changes April 6 to meet players' demands for larger and faster-growing jackpots.The minimum jackpot will increase to $15 milli
Aug 26, 2005, 9:17 pm - Lottery News

Financial analyst looks at lottery jackpot cash/annuity optionsNews Story
Q: I've just won a $50 million lottery. Should I take all cash or an annuity?A: It depends on a lot of things, one of which is the interest rate the lottery uses in calculating the annuity value vs. the immediate payout. Another is the uncertainty associated with future income taxes.The conventional wisdom is to take the money as a lump sum. That's because the lottery takes the cash prize (today's dollars) and uses that money to buy investments that will fund the annual payments. That may mean t
Aug 23, 2005, 6:06 pm - Lottery News