SUPERLotto PLUS JACKPOT ROLLS TO $50 MILLION
SACRAMENTO, March 24, 2005 -- Lottery officials announced the SuperLotto Plus jackpot for Saturday night’s draw at $50 million. “Spring has sprung and with it comes a chance at a $50 million SuperLotto Plus jackpot,” said Dennis Sequeira, California State Lottery’s Chief Deputy Director. “An important aspect is that California's public schools will receive more than $31.9 million from the draw sales associated with this jackpot.”
A single jackpot winner of $50 million who chooses the 26 graduated annual payments would receive approximately $1,250,000 the first year and those payments would graduate to more than $2,550,000 by the 26th year (before taxes). A single jackpot winner who chooses the cash option would receive the estimated cash value which is roughly half the announced jackpot or $25 million (before a 25% federal withholding).
A retailer who sells a single winning $50 million ticket would receive a $250,000 bonus for selling the winning ticket.
SuperLotto Plus can be played at approximately 18,000 retail business establishments statewide. The SuperLotto Plus draw takes place each Wednesday and Saturday night at 7:58 p.m. Players can purchase tickets until 7:45 p.m. on the night of the draw.
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