JACKPOT ADVISORY - CALIFORNIANS DREAM OF $193 MILLION JACKPOT
SACRAMENTO, February 16, 2002 -- Lottery officials announced that the SuperLotto Plus jackpot for Saturday, February 16, 2002 is $193 million. "Californians are buying tickets at a rate of more than $6 million an hour, which is a new SuperLotto Plus hourly sales record," said Lottery Director Joan Wilson. "The higher the sales go, the higher our contribution to California schools. At this pace, the schools will receive more than $112 million from this $193 million jackpot and the sales associated with this jackpot."
A single jackpot winner of $193 million would receive 26 annual payments with the first payment equaling approximately $4.825 million and the 26th payment being approximately $9.843 million before federal tax withholding of 27%. There are no state or local taxes. A winner choosing the cash value is estimated to receive $96.5 million (or $70 million after federal tax withholding). The cash value equals roughly half of the jackpot, or the amount the Lottery would invest to payout the jackpot prize over 26 years. The odds of winning any jackpot are one in 41 million. A retailer that sells a single winning ticket will receive a bonus of $965,000.
In the event of the death of a winner, the full prize is paid to the estate of the winner. The current jackpot of $193 million is the largest in the history of the California Lottery and the fifth largest jackpot in USA history. On June 23, 2001, the second largest jackpot in California Lottery history reached $141 million and was won by a single winning ticket. Alcario Castellano of San Jose, California became the record-breaking highest individual jackpot winner of $141 million.
SuperLotto Plus can be played at more than 18,000 retail business establishments around the state. The SuperLotto Plus draw takes place each Wednesday and Saturday night at 7:58 p.m. Players may purchase tickets until 7:45 p.m. on the night of the draw.
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