SUPERLotto PLUS JACKPOT RAISES TO $120 MILLION - THIRD LARGEST JACKPOT IN CALIFORNIA LOTTERY HISTORY
Sacramento, August 23, 2002 -- Lottery officials announced the estimated SuperLotto Plus jackpot for Saturday night's draw at $120 million. "Sales are great and those sales have allowed us to push the jackpot up to $120 million, which makes it the third highest jackpot in our history," said Joan Wilson, Director of the California Lottery. "Furthermore, California's public schools will get $73 million from this jackpot and the sales associated with it!"
The Lottery provides 34 percent of all sales to California's public schools. Since 1985, the Lottery has provided more than $13 billion to public schools. The California Lottery's contribution equals approximately 2 percent of the state's total education budget.
A single jackpot winner of $120 million would receive 26 annual payments with the first payment equaling approximately $3 million and the 26th payment being more than $6 million before taxes. The estimated cash value would equal roughly half of the jackpot, $60 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 $600,000 for the retailer.
On February 16, 2002 the largest jackpot in California Lottery history reached $193 million and was won by 3 winning tickets from Orange, Half Moon Bay and Montebello. 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 can purchase tickets until 7:45 p.m. on the night of the draw.
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