JACKPOT ADVISORY - CALIFORNIA KEEPS GETTING HOTTER AND HOTTER -- SUPERLotto PLUS JACKPOT ROLLS TO $50 MILLION
SACRAMENTO, August 15, 2004 -- Lottery officials announced the SuperLotto Plus jackpot for Wednesday night’s draw at $50 million. “Our summer temperatures keep climbing and the Lottery’s jackpot keeps rolling,” said Dennis Sequeira, California State Lottery’s Interim Director. An important aspect is that California's public schools will receive more than $31 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 $40 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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