The jackpot lottery is a lottery game that pays a large amount of money to a single jackpot winner. Prize amounts are set based on the number of players and the expected amount of winning tickets for the next drawing. Sometimes, the prize liability exceeds the percentage of the jackpot pool allocated to the different prize levels, and the lottery game becomes pari-mutuel. The estimated jackpot is usually about 32.5% of the total base play revenue collected by game members. This prize pool builds up until someone wins.
The minimum jackpot is $1 million and draws occur on Wednesdays and Saturdays. Powerball is a slightly cheaper alternative. Each game costs $2. You must purchase a ticket with five numbers ranging from one to ninety-five, and a Power Play option costs $1. Power Play multiplies lower-tier prizes by up to 5 and 10 times when the jackpot prize is less than $150 million. When you win with the Power Play option, you can also receive your prize in an annuity. The jackpot can grow as high as $150 million, but the payout will be limited to $584,402,676 on an average ticket.
The owners of Total Liquors in Ohio were unaware that they had sold the winning ticket. They were in complete shock when the phone rang, and only discovered it was the lottery after a quick check on the lottery’s website. It turns out that Total Liquors had sold the winning ticket and will receive $125,000 from the Lottery. The store has only been in business for five years. But, the store is now one of the most successful lottery operators in the country.