Scratch Off Lottery – Things You Should Know Before Playing


Whether you are new to lottery games or you’ve been playing them for years, there are some things you should know before playing. If you’re looking for a game to play that offers good odds, you should consider playing the Scratch-off game.

Multistate lotteries have different odds

Having played the lottery in a few states, I can attest to the fact that each state is slightly different in its approach to the game. One state required a deposit into an escrow account to play the game while others required no more than a dollar or two. The prize pools are also quite diverse, with some states boasting prize pools in the millions. The state of Texas has a prize pool in the hundreds of millions. The state of Oklahoma, on the other hand, boasts a prize pool in the tens of millions.

One-time payment is a smaller amount than advertised (annuity) jackpot

During the 60 days after you win the lottery, you can choose to receive your prize in a one-time payment or as an annuity. If you choose the annuity, you will receive an annual payment for the next 29 years. The first payment would be $28.6 million, the second would be $30 million, and the final payment would be $117.7 million.

During the time that you are receiving the annuity, you will not have to pay a large tax bill. You can take your lump sum and invest it to generate higher earnings in the future. If you are a younger, conservative investor, you may do better with the cash payout. However, if you are an older, experienced investor, you may want to choose the annuity. You will have more time to ride the market ups and downs, which will help you earn more money in the long run.

Creditors cannot garnish your prize

Despite the fact that you have likely been awarded a hefty lottery prize, it is unlikely that your creditors will be able to garnish your winnings. To wit, Oregon has a law on the books that prohibits this shady activity. The state is known for its liberal attitude towards the lottery community. To wit, most states allow only government agencies to collect winnings from lottery companies. Fortunately for you, most states do not allow private creditors to do the same thing. In fact, you might have a better chance of securing your winnings if you play in states with more liberal laws.

Scratch-off games have decent odds

Despite the fact that the odds of winning a scratch off jackpot are very low, you can still increase your odds by purchasing more tickets. The better your chances of winning the jackpot, the more money you can win.

Most scratch off tickets come in packs of about thirty or forty tickets. You can buy a pack for as little as a dollar. Each ticket will contain a unique mix of winning and non-winning tickets. This is how the odds of winning are determined.

You may be wondering why buying a few tickets makes a difference. The chances of winning a jackpot are much higher when you buy a pack of tickets. The number of winners in a pack is also determined by the number of prizes in a game. For instance, if there are four prizes, it’s much more likely that one of them will be a winner.