There is no denying the fact that lotteries have fascinated and attracted men and women by the millions across the country and also across the world over the past many years. In fact, even today lotteries are organized and people invest quite handsomely because it has the good of people in mind. It would be pertinent to mention here that the first lottery was perhaps invented in the year 1566 by Queen Elizabeth. This was done with the main purpose of repairing public properties and harbors in those days. Hence, it would not be out of place to mention here that lotteries even today have some good in mind. However, over the years, it has become a big business and today lottery business in the country could run into billions of dollars. According to some well-researched studies the size of lotteries in the USA was a staggering 91.32 billion dollars in the year 2019. It saw a small drop in the year 2017 when compared to 2016 but since 2017 it has shown an upward trend reaching a figure of around $91.32 billion USD in the year 2019.
The growth story of lotteries across the country might look surprising because there are enough reasons to believe that lottery is a form of gambling. Only a miniscule percentage of people are able to make money out of this because of obvious reasons. However, in spite of a low chance of winning, there is a continuing demand for different types of lotteries or lotto as they are also referred to by many people.
HOW DO STATES BENEFIT FROM IT?
Though there could be differing views as far as the good aspects of lotteries are concerned, there is no doubt that the governments, both federal and states make a lot of benefit from it. It would not be out of place to mention here the tax revenues raised from lotteries in many states is much more than the taxes raised from corporates. Hence, there are enough reasons to believe that the lottery is a big source of state and federal revenue and the revenue that is generated is put to use for various development and social welfare schemes. It could be pertinent to mention here that taxes and levies from lotteries generated around $67 billion in the fiscal year 2015. This is far above the amount of around $49 billion that was generated by corporate income taxes.
Hence, it is clear from the above that the lottery is not only a big source of entertainment for thousands of men and women in the USA but also forms a major source of tax revenues for many states and also the federal governments. However, there are different rules pertaining to lotteries. While some states are encouraging lotteries, there are others who may not be so favorably inclined.
DOZENS OF LOTTERY COMPANIES
It would be pertinent to mention here that there are dozens of lottery companies across the breadth and length of the country. The numbers could run into many hundreds and it may not be possible to list down all of them here. However, like all other businesses, there are some that are quite popular and have thousands of customers. On the other hand there could be a few who are not so famous but still have their own list of customers who have been with them for many years. In this article, we will be looking at a popular lottery service provider by the name POWERBALL. They are quite popular and could be considered one of the top in https://toboglivepowerball.com the list of lottery game providers in the country. We will look at the various aspects of these service providers, their history and other such things so that the readers are able to get a reasonably good insight into the various reasons as to why it may make sense to choose them over others. We also hope it will make interesting reading to those who are keen on getting some useful, reliable and factual information about Powerball.
WHAT IS POWERBALL?
Let us get started by addressing the simple question as to what Powerball is all about. Put in simple words, it is a famous American lottery game service provider. It is extensively played across the length and breadth of the country. It is a lottery game available in 45 states and additionally, Puerto Rico and Columbia and the US Virgin Islands also offer this. The entire offering is coordinated by an entity by the name MUSL or Multi-State Lottery Association. This is an organization that has been formed on the background of an agreement. The agreement was between various U.S Corporations and lobbyists. Wednesdays and Saturdays are considered special for those who are enthusiasts and participants of the Powerball lottery. This is because draws for this lottery are held on these two days in the evenings at a pre-fixed time of 10.59 pm, Eastern Time. The draws always take place in Orlando, at the Universal Studio. For years two renowned names Laura Johnson and Sam Arlen. The draws are done professionally and are monitored. Further, the draws of Powerball are also thoroughly audited by some reputed auditors.
SOME FINER POINTS AS TO HOW THE GAME IS PLAYED
The game is played with the help of special 5/69 balls that are white in color and 1/26 special types of powerballs. The combination of these are used to choose the winning numbers. However, we also need to bear in mind that the odds of winning the jackpot is simply outlandish and might look even impossible and improbable. This is because the odds of hitting the jackpot is 1:292.00 million. But it would be pertinent to mention here that there have been some lucky winners of the jackpot. The cost of each play is maximum priced at $3 with the help of the Power Play option. It would be interesting to note here that previously, each POWERBALL play cost just $1. However, with the advent of PowerPlay these games started costing $2.
If you are interested in being a part of this whole entertainment and would like to try your luck, you also must bear in mind a few more things. The cut off time for the ticket sales is exactly 10.00 pm and this is as per Eastern Time. However, there could be some regions and states where the cut off could be a bit earlier. The jackpot advertised is a $20 million annuity. In other words if a player wins a $20 million annuity jackpot, he or she will be assured of 30 graduated instalments. However, the winners so wish, they can choose to opt for a one-time payment as a choice. If a winner wishes to choose a single lump sum payment, he or she will get one instalment less as far as the instalments payments are concerned. In other words, the single lump sum payment will be equal to 29 installment payments. This is because of the NPV concept that will be used for the purpose. Further, we also should bear in mind that one check amount will be much larger in value compared to 30 periodical instalment checks. Further, you also should bear in mind that if you go in for one lump sum payment, you will end up paying much higher income tax because you will not get the advantage of being taxed at a lower slab if you opt for monthly payments.
Before we get into some more interesting aspects of POWERBALL, let us also have a look at some interesting snippets. It was in 2016 that the lottery game providers came up with the largest jackpot as far as the history is concerned. The amount was around $1.59 billion. It certainly was big money and it was divided by three lucky winners. The winners were perhaps never known to one another but they ended up winning the big money. It would be interesting to mention here that the three tickets were sold in Melbourne Beach, Florida, Chino Hills, California and Munford, Tennessee.