SACRAMENTO, February 7, 2002 -- California residents have a chance to win an eye popping $80 million for the SuperLotto Plus drawing of Saturday, February 9, 2002. "Lotto Fever is in full swing around the state as residents line-up to invest $1 and dream of the life it could bring to them and their community,"said Lottery Director Joan Wilson. "An $80 million jackpot brings a great deal of excitement to our state and best of all, this jackpot will enhance our contribution to our State's public schools by an additional $48 million."
The California Lottery currently has the largest single state lottery jackpot in the country -- bigger than Powerball or the other multi-state games. A single jackpot winner of $80 million would receive 26 annual payments with the first payment equaling $2 million and the 26th payment being more than $4 million (before federal tax withholding). The estimated cash value would equal roughly half of the jackpot -- $40 million or the amount the lottery would invest to payout the jackpot prize over 26 years. In the event of the death of a winner, the full prize is paid to the estate of the winner. A retailer who sells the winning ticket would receive 1/2 of 1% of the jackpot as a bonus for selling the winning ticket. A single winning ticket would yield $400,000 for the retailer who sells a single winning ticket.
Alcario Castellano of San Jose, California made Lottery history when he won a record-breaking jackpot, the largest in Lottery history of $141 million on June 23, 2001, making him the largest individual prize winner in California Lottery history. Union Valley Liquor, the retailer who sold that ticket, earned $705,000 the largest retailer bonus in the Lottery's history.
With at least 34% of all Lottery sales going to education, the sales from this jackpot (which has rolled 9 times) will generate an estimated $48 million for public education. California's schools have received $13 billion from 34% of Lottery sales since 1985.
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