JACKPOT ADVISORY - LOTTERY JACKPOT SKYROCKETS TO $183 MILLION IN CALIFORNIA
SACRAMENTO, February 15, 2002 -- Lottery officials announced that the SuperLotto Plus jackpot for Saturday, February 16, 2002 is $183 million. "This is the largest jackpot in our 16-year history and sales are making it grow larger and larger," said Lottery Director Joan Wilson. "The most exciting part of this jackpot is that California schools will receive more than $107 million from this $183 million jackpot."
A single jackpot winner of $183 million would receive 26 annual payments with the first payment equaling approximately $4.57 million and the 26th payment being approximately $9.33 million before federal tax withholding of 27%. There are no state taxes. The estimated cash value of $91.5 million (or $66 million after federal tax withholding), would equal 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 $915,000.
In the event of the death of a winner, the full prize is paid to the estate of the winner. The current jackpot of $183 million is the largest in the history of the California Lottery and the fifth largest single state 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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