These example sentences are selected automatically from various online news sources to reflect current usage of the word 'jackpot.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors.
What are the biggest lottery winners in the world ever?
All information about the jackpot and the winners you will found on this website.
Powerball Lottery : The draw is every wednesday and saturday. Mega Millions lottery: The draw is every friday and tuesday. In this table you will see the 5 highest jackpot prices in the world!
Lottery jackpot records have always attracted the attention of the people. The tickets for this lottery have pre-printed 5-digit numbers, with each set of numbers sold multiple times in several so-called series.
It is generally considered that Spain’s Sorteo Extraordinario de Navidad is the world’s largest lottery and has the largest first prize jackpot. For example, a ticket with the number “00001” was printed 180 times under different series numbers.
This results in the jackpot always being split across multiple winners.
The 2011 main jackpot of €720 million was paid out as €4 million to each of the 180 tickets with the number 58268.
Unlike in the United States, European jackpots are generally tax-free and jackpots are paid in a lump sum.
For example, in the United Kingdom’s National Lottery, wagers are split between the game operator Camelot Group and the government, with Camelot distributing some of the money for prizes, some for operating costs, a small amount for profit, some into their ‘good causes’ programme, with the remainder going to the government as tax; VAT however, is not due.
In the United States, all lottery winnings and casino games winners are subject to Federal taxation (automatically reported to the Internal Revenue Service if the win is at least $600); many smaller jurisdictions also levy taxes.
The IRS requires a minimum withholding of 25% of the prize (minus the wager) of any gambling win in excess of $5,000. lotto winners are taxed at the highest percentage; any winnings above $600.00 are taxed at 30%.