Lottery Jackpot
So what was the biggest lottery jackpot in history? Spain’s Christmas Lottery has the largest prize pool of any lottery in the world. In 20-12 the top jackpot was €720 million (US$941.8 million. Since European jackpots are not taxes this would be the biggest lottery jackpot in world history. Unfortunately lottery jackpots in the United States are subject to heavy taxation. Federal taxes usually take over 50-% of any lottery jackpot and some states like New York have heavy state taxation.
In Europe most lottery jackpots are paid in a lump sum. In the US lottery players have the choice between an annuity or a lump sum payout. If the annuity is selected the player gets most of the advertised jackpot.
The biggest lottery jackpot in US history was a $656 million Mega Millions jackpot won in 2012. This was allegedly the largest cash payout in world history at $474 million. The jackpot was split among three very lucky players. In 2013 2 players split a $648 million Mega Millions jackpot. The biggest lottery jackpot ever won by a single ticketholder was a Powerball jackpot worth $590.5 million won by Gloria MacKenzie of Zephyrhills Florida. The cash value of the jackpot was $370.9 million. In 20-12 a $587.5 million Powerball jackpot was won by two players.
In Europe most lottery jackpots are paid in a lump sum. In the US lottery players have the choice between an annuity or a lump sum payout. If the annuity is selected the player gets most of the advertised jackpot.
The biggest lottery jackpot in US history was a $656 million Mega Millions jackpot won in 2012. This was allegedly the largest cash payout in world history at $474 million. The jackpot was split among three very lucky players. In 2013 2 players split a $648 million Mega Millions jackpot. The biggest lottery jackpot ever won by a single ticketholder was a Powerball jackpot worth $590.5 million won by Gloria MacKenzie of Zephyrhills Florida. The cash value of the jackpot was $370.9 million. In 20-12 a $587.5 million Powerball jackpot was won by two players.
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