Categories
Uncategorized

Do I Have to Pay Taxes on Lottery Wins?

This is a little more difficult question to answer because it depends on a couple of important factors.

  • First up is where you live.
  • Second is where the lottery itself originates from.

These two factors are going to determine not only whether you have to pay taxes or not, but also just how much taxes you’re going to have to pay for your win.

US Lotteries

In the United States, you are required to pay taxes on your lottery winnings no matter where those winnings come from. In fact, you are required to report and pay taxes on any and all money that you have coming into your home during the course of any given year.

So, it doesn’t matter what lottery you win or even if you were overseas at the time that you purchased the ticket. If you live in the United States and you are required to file taxes you are required to report the money that you earned. And the government will get a share of it.

For those who play the lottery in the US but are not actually citizens, there is a tax taken out of the money when they win. In fact, there is a 30% fee that is withheld from the winnings if anyone other than a US citizen wins.

lotto america
This US lottery has seen jackpots of over $1 billion
Did you know that Powerball has paid out seven of the ten largest jackpots? Yes, that’s right; that’s why it’s the most popular lottery in the world. […]

After all, if a US citizen wins they will be required to pay taxes on the money both at the time they claim it and when it comes time to report their income. But if you’re not a US citizen you would theoretically be able to take that money and run. So the government takes its share early.

United Kingdom

On the other hand, the UK doesn’t charge taxes on lottery winnings to the ticket holder. Instead, they opt to charge those taxes to the company operating the lottery instead. France, Austria, Germany, Iceland, Denmark, Russia, Canada, Uruguay, Chile, Bolivia, Colombia, and Argentina do not charge taxes on their largest lotteries.

That is why Simbalotto buys the Euromillions tickets in Austria, and the Eurojackpot tickets in Germany – so that you don’t have to worry about taxes when you win.

What is the Legal age to play the Lottery?
When the word lottery crosses your mind, you probably think it is gambling – true or false? Well, most people do not consider playing the lottery gambling […]

This means you can look at the number of the current jackpot and feel more comfortable about just how much you’re actually going to get.

The tax situation in other countries

Still, countries like Brazil, Croatia, Slovenia, The Netherlands, Poland, Italy, Spain, and Portugal charge taxes on the winnings that you get just the way the United States does. Keep in mind that these taxes are required on both sides.

So if you live in the United States and win the lotto in Spain you’ll need to pay taxes in Spain and also taxes in the United States. This is something to keep in mind when you’re betting on foreign games in other countries.

If you’re looking to make as much money as possible with the lottery you may want to take a closer look at the taxes and the way that they’re taken out. You don’t want to win a large jackpot only to find out later that it’s much smaller than you thought. Taxes can sneak up on you after all, and you don’t want that.

Categories
Tips for winners Uncategorized

Should you always go for the highest jackpot?

Should You Always Go for the Lottery with the Highest Jackpot?

The answer is, it depends. Some people may wonder ‘should you always go for the lottery with the highest jackpot,’ but they know what they’re looking for. They know what they actually want. So, what is it that you’re actually looking for and how can you make sure that you get it? We’re going to take a closer look.

The Highest Jackpot

Now, if you’re looking to win the biggest jackpot you possibly can then the high jackpot amounts may be appealing. After all, if you happen to win that jackpot you’re going to be looking at a whole lot of money, right? And the more money you get the more you’ll be able to do with it and the more fun you’re going to have.

Should you always go for the highest jackpot?
Are there other factors to be considered when selecting a lottery? …

Or maybe the more people you’ll be able to help. For some, that’s the biggest draw of these types of lotteries and they don’t care about anything else. But that’s not the way for everyone.

Going with a lottery that has the highest jackpot can be a little harder to win, however as more people are likely to play. Since everyone wants to win a big jackpot you’ll find that the bigger the average jackpot (or guaranteed jackpot) the lower the odds are that you’re going to win.

The Best Odds

The other option, if you’re looking at what factors you should consider in buying your lottery tickets, is the odds. For some people, the idea of winning a lottery is more important than just how much they actually win.

If that’s the case for you then you may want to take a closer look at just what the odds are on the lottery that you’re considering and then choose to buy tickets for whatever game gives you the best chance at winning.

4 lotteries giving you good chances to win millions
€1 million is enough for you? These 4 lotteries offer better chances …

How much is enough for you?

Of course, you’ll also need to think about whether you want to win something or whether you want to win the jackpot because the odds for each are going to be different. If you’re looking to win any prize there are plenty of lottery games that you can try out that will give you a good shot.

If you’re looking to have the best odds at winning the jackpot you’ll likely want to go with more obscure options. Keep in mind that with this method you could end up winning a game but not getting as much money as you think.

Either direction you decide to go you can have a lot of fun playing the lottery. And you’ll have a shot at winning something. Whether you’re going for any old win or you’re hoping to make the most money possible with a high jackpot amount, there are plenty of ways that you can and should be trying it out for yourself. You want to have a good chance at the outcome you want, so why would you sacrifice in any way when you have a great chance?

Categories
Tips for winners

4 lotteries giving you good chances to win millions

When you’re looking for a lottery that could give you a shot at a great payday, you don’t want to choose the ones that have the lowest jackpots. Instead, you want to take a chance on lotteries with the best chances and good jackpots. And that’s why we’re looking at 4 lotteries that give you good chances to win millions. So you could be on your way to a huge break in no time.

Eurojackpot Tier 1 and 2

First up is the Eurojackpot, specifically tiers 1 and 2. Now, the Eurojackpot gives you a pretty good chance at a nice prize, but you’ll need to get up into the top tiers before you’re going to have a chance at over a million. Before that, you’re going to have a chance at several hundred thousand, but that much money may not be quite enough for you. Still, unlike most lotteries, you can get over a million by hitting the second prize rather than just the first. It draws on Tuesdays and Fridays at 20:00 CET.

This lottery has one feature that you have to know
Eurojackpot is a transnational lottery game launched in 2012. It is available to play in […]

French Lotto

The second lottery to take a look at is the French Lotto, which actually has some pretty good odds for you to get a decent prize. Jackpots could be tens of millions or they could be slightly smaller, but you’re very nearly guaranteed several million from this lottery. And that’s definitely going to help you make some big changes in your life. It also draws several times a week, including Monday, Wednesday, Friday, and Saturday.

La Primitiva

La Primitiva offers several prizes that come in at over a million dollars, though that will depend on the specific week and the results of the drawing in question. Some drawings may have higher jackpot amounts than others and higher amounts for the lower-tier prizes as well. This drawing offers three different opportunities to win on Mondays, Thursdays, and Saturdays.

Playing La Primitiva online
History Playing lotteries in Spain has been known to have a long-standing tradition, and La Primitiva has the longest history of the games still running today. […]

El Gordo

The fat one, El Gordo offers great prizes for those who do choose to play. Not to be confused with the annual Christmas lottery in Spain, this El Gordo is the one that’s carried out quite a bit more frequently.

In fact, it draws on Thursdays and Saturdays and has great prizes of several million each time. But there are also special drawings that occur on the first Saturday of each month and the three times a year special drawings. El Gordo certainly has a lot to offer.

If you’re looking for a drawing that’s going to give you the biggest opportunity to win big you don’t want to miss out on any of these four. The French Lotto, El Gordo, La Primitiva, and the Eurojackpot are each located in different parts of the world and they have different prizes available.

But with the advent of the internet, you can actually make a huge difference and start winning big prizes, no matter where you’re located. It’s all about having the right opportunities with these 4 lotteries that give you good chances to win millions. What would you do with that money?

Categories
Tips for winners

Can you trust an online lottery ticket messenger service?

The short answer here is yes, you can. But of course, you’ll need to do your research to make sure that you’re trusting the right service. You don’t want to give too much of your personal information and certainly your financial information to just anyone. Instead, make sure that you’re doing your homework when it comes to figuring out just what you’re getting into.

When you’re ready to start playing the lottery online you want to make sure that you’re working with a company that’s reputable and that’s going to get you real tickets that make you eligible for real prizes within the lottery games that you want to play. There’s no reason to play those fake casino and lottery games on your computer or your favorite mobile device. Not when you could play the real thing and earn real money.

4 lotteries giving you good chances to win millions
€1 million is enough for you? These 4 lotteries offer better chances …

Reputation is important

A reputable online lottery ticket messenger service is going to give you the opportunity to work with professionals. And those professionals are going to help you figure out everything you need to know (or want to know) about the lottery games that you’re playing. How often does that happen when you decide to purchase tickets from a brick-and-mortar store?

More lotteries to choose from

Also, you’ll be able to purchase tickets for a wider variety of games when you purchase online, which is an even better benefit for you because it gives you more opportunities to win. Of course, you need to be able to trust the company that you’re buying from when you’re using an online lottery ticket messenger service. Otherwise, you’re not really getting any kind of benefits by going with a specific company over another.

When you’re doing your research you want to look at just how that specific company does business. And what type of services they provide. You also want to know more about their fees and any additional charges connected to the winnings. At Simbalotto, we do not deduce any commissions from your winnings.

EuroMillions is one lottery you MUST consider playing
EuroMillions is a transnational lottery game that offers life-changing jackpots.

Only by looking at all of these things will you be able to decide if the service you’re looking at is going to be reputable.

The unfortunate truth is that there are some services out there that are not reputable. And those services are ones that you absolutely want to avoid. But how do you know which ones those are? It all comes in when you do that research. By looking at their record and the types of people who purchase from them, you’re going to find out a lot more about whether you can trust them.

Summary

So, it’s important to note that there are reputable and trustworthy online ticket messengers. But there are also some that are not reputable. And you’re the only one who can find the good and separate them out from the bad. Don’t fall for the scams that guarantee you a win on your tickets. Or ones that you can’t research and corroborate.

You want to start buying tickets for all the top games, but you want to be sure that it’s going to be a positive experience for you.

Categories
Tips for winners

5 ways to improve your chances of winning the lottery

Whenever you spend money on a lottery ticket, you must know that your chances of winning – especially the odds of winning a large prize – are low. Consider the money spent on lottery tickets as an investment, and as with any investment, you must look at your potential loss versus your potential gain.

Strategies to improve your chances to win the lottery

There are a number of ways you can actually improve your chances of winning when playing the lottery. Let’s take a look at the five main ways to do just that.

  1. Take a look at the costs versus potential wins. Let’s say you have a choice between paying €2 for a ticket that could potentially win you €5 million, and paying €5 for a ticket for a lottery with a €100 million jackpot. Obviously, you would rather spend €5, provided that the mathematical chances of winning are similar for both choices.
  2. Since we are talking about math, here is a more elaborate way of looking at it. There is a term called expected value. If you multiply your potential win by the odds of winning, you get the “EV” of your investment. For example, the Mega Millions lottery has a probability of 1 in 302.575.350 to win the jackpot, and the odds of winning the second-tier price of $1 million is 1 in 12.607.306.
    Assuming a jackpot of $100 million, the EV for the top tier is 100.000.000 divided by 302.575.350, which is, in dollars, $0,33 (per dollar invested).
    For the second-tier prize of $1 million, the EV is 1.000.000 divided by 12.607.306, which gives us $0,08 per dollar invested.
    In order to come up with the total EV, you would have to do the same math for all tiers, down to the lowest one.
    This US lottery has seen jackpots of over $1 billion
    Did you know that Powerball has paid out seven of the ten largest jackpots? Yes, that’s right; that’s why it’s the most popular lottery ...
  3. winning numbersAvoid playing only numbers under 31. Lots of players use birthday dates as their lucky numbers. So when a draw turns out numbers under 31 only, that increases the chance that many players match the numbers drawn. That, in turn, means that you will have to share the jackpot with a larger number of winners. The same goes for number combinations that are too “regular”, such as 1-2-3-4-5-6 or 2-4-6-8-10-12.
    A good example of that was a recent draw that happened in the Philippines, where the draw result was 9-18-27-36-45-54. 400 players had to share that win because all numbers were multiples of 9. You can imagine the disappointment of those players who only won $9200 instead of over $3 million.
  4. Play at least one identical number combination all the time. While technically, every number combination is just as likely as the next one, over a long period of time, the winning numbers will tend to see some form of “distribution”. That means with every draw in which your numbers have not won, there is a slight increase in the chance that they may win the next time.
  5. Using the above strategy and taking it to the next level, you can check the last numbers that were drawn. Make a grid of all possible numbers, then strike every number that has been drawn over the last weeks. You can go as far back as you want. Then, pick your numbers from those numbers in the grid that you have not eliminated. Or, keep going back in the draws until there are only exactly as many numbers left as you need to select for your ticket.
Can you trust an online lottery ticket messenger service?
Not all lottery ticket messenger services are the same. Learn the differences ...


There are no guarantees

All the strategies mentioned above will not guarantee that you will win, but using some sort of strategy is better than just picking random numbers. You still need luck on your side, but know that we wish you the best of luck!

Categories
Tips for winners

What is the Legal age to play the Lottery?

When the word lottery crosses your mind, you probably think it is gambling – true or false? Well, most people do not consider playing the lottery to be gambling, since it is a game with rules where players buy tickets for a chance to win money.biggest lottery jackpots

Gambling on the other hand is where a player places his money with the hope of winning an amount of money larger than his initial bet. The players play a game where they have set rules, yes, but the risks of winning or losing are mostly determined by chance.

The difference between the two is: Lottery is a game where the players compete against each other and where the prize was set aside earlier.  At the same time, gambling is where the players play individually against the gambling operator who can decide to favor his side of the game by defining the odds.

This US lottery has seen jackpots of over $1 billion
Did you know that Powerball has paid out seven of the ten largest jackpots?

What are the requirements for playing?

In order for one to play the lottery, one must understand the game in that first, you identify the lottery, and then, create a ticket by selecting a combination of numbers.  The goal, of course, is to match the winning numbers of the upcoming draw.

But not everyone can play because there are laid-out rules saying that one must be of age. And that legal age depends on where the lottery is being held.

What is the age limit when you want to participate in a lottery?

In the earlier centuries, children, even those who were 16 years old,  could have played the game.

Nowadays, in some countries, playing the lottery is illegal regardless of age while in other countries where lotteries are legal, the age limit is usually between 18 years to 21 years.

5 ways to improve your chances of winning the lottery
How to pick the best lottery, how to select numbers, how to use math

Some countries where lotteries are allowed have gone a step further by organizing a national lottery where anyone can participate as long as one is of the required age.

Since those national lotteries are mostly controlled by the government, the rules will prohibit the selling of lottery tickets to minors, to avoid the risk of children becoming compulsive gamblers.

Why minors should not be exposed to the lottery

It has been proven that teens are easily affected by gambling.
When they are introduced at a younger age, they become addicted to the game or the money they win. On the bright side, some of the teens do something useful with the money like paying school fees or helping out at home.

And while lottery tickets are mostly cheap, playing the lottery can still be an entry into the more dangerous variations of gambling.

Conclusion

In conclusion, although the legal gambling age does vary in different countries depending on the set law requirements, on our website, you have to be at least 18 years old to buy tickets. As a lottery ticket provider, we always comply with the requirements to play a lottery and ban those attempting to play who haven’t attained the right age.

Categories
Lottery News

Do lotteries have a specific time to close?

How can I find out when lotteries close their ticket sales?

It is important to know when the particular lottery you are participating in closes. On our website, you can visit the information page of the lottery you are participating in and view the remaining time before the draw. The draw time provided on our website is based on your current location therefore, it will guide you if you still have enough time to buy the ticket or if you will have to wait for the next draw. Or else, you can visit the official website for the specific lottery and get information on when they will close the draws depending on the country you are in.

5 ways to improve your chances of winning the lottery
How to pick the best lottery, how to select numbers, how to use math

 

Why do lotteries have a specific time to close ticket sales?

lottery closing timeOne of the reasons lotteries suspend ticket sales at some specific time before the draw is it could be that retailers are required to close their shops at a certain time of the day, in accordance to local laws.. The hours for selling these tickets may vary depending on where the draws take place. It is also important to know your time zone, especially if you are participating online. For lotteries like Mega Millions or Powerball, since their original country is the USA, retailers may close at different hours depending on which state they are in. But really, there are no minimum hours for lottery sales to close; it’s just that some retailers might set their hours.

The main reason you can’t get a lottery ticket, say, five minutes before the draw, is security. The lotteries want to avoid a situation where a person can buy a ticket after the draw. That is why there is usually a cut-off time between one and three hours before the draw.

What is the most common cut-off time before the drawing?

The most common cut-off time for lottery tickets is between 1 and 3 hours before the draw. If by any chance you find out that the sales or the specific game have already closed, you will be able to purchase tickets for the next draw. Then you do not have to worry about not participating at all in the lottery because the draw has closed.

How does the closing time affect me if I buy my tickets online?

Well, you might get shut out from purchasing lottery tickets for the ongoing draws happening on that day. Also, if you are buying the ticket in a hurry because of the closing time, you might not be able to choose your number combination as thoroughly as you would have done if you had ample time. But you may find some of the lotteries have 2 to 3 draws in a week, so if you miss the sale of one, you can still purchase tickets for the next draw, and that is quite advantageous.

Can you trust an online lottery ticket messenger service?
Not all lottery ticket messenger services are the same. Learn the differences...

You can get a ticket for the next draw on our website, which will allow you to continue participating in the upcoming draw games. You may miss a ticket just because the sale is over, but you can still get a ticket but you have to wait for the next draw.

How can I find out when the draw is held?

To find more information about when the draws are held, you can click on the specific game, check the information page for that game, and then you will be able to see the specific days and times the draws for that game will be held. You can also visit the official website for the specific lottery you are interested in and see the scheduled time for their draws every week. This will help you plan when and how you can participate in these games.

Can I watch the draw live?

Yes, you possibly can. If you are participating in the respective country the lottery is held in, they usually have specific TV stations that broadcast the draw results. You can watch it live from there. If you are participating in the lotteries online or in a country where you cannot access the TV stations, some of these games have a YouTube channel where they offer live streams of the draw procedure. Also, sometimes they provide a link on their official website for international participants who want to get an update on the game draws or the number combination of the previous draw.

What happens if my online ticket wins?

Well, then you do not need to worry. For winnings below €2500, the amount will be credited to your Simbalotto user account immediately after your win. You can decide to keep your money in the account and buy more tickets, or you can withdraw it to your credit card, or via bank transfer or cryptocurrency, whichever works best for you. If your winnings are higher than €2500, you will receive your award directly from the lottery commission. Our customer service will get in touch with the relevant lottery commission on your behalf. The lottery commission will then deduct the local taxes and either deposit the money directly into your bank account or send you a check.

For more information, you can read our FAQs section to get your questions answered.

Categories
Lottery News Tips for winners

The math behind your lottery chances

Everybody knows that the odds of winning a lottery jackpot are not in their favor. But there are a number of factors and mathematical concepts that you should consider.

Once you know about the math involved in the lotto, you will be able to make smarter choices when picking a lottery. That will not help you much though, as long as you play your local lottery online. Because if you do not have a choice of lotteries at your disposal, knowing about the math will not make a difference.

But now that you have found Simbalotto, you know that you actually have a lot of options. So it is only logical that you want to find out what makes this lottery a better choice than that lottery. There are a number of things to consider first.

winning numbers
The math behind your lottery chances
How to use math to decide which lottery to play and when

Are you only interested in the big prizes?

Of course, most people play the lotto to win big. They are looking at the jackpot, and maybe the second prize (which often enough is quite big as well). If you think like that, then looking at the size of the jackpot makes sense. It means you can just pick the lottery with the currently largest jackpot.

Large jackpots, great odds - Europe's biggest lottery
EuroMillions is a transnational lottery game that is played in many European countries. […]

Maybe the prize for that lottery ticket is, let’s say, 3 times higher than the price you would pay for a ticket in your lottery. If the larger jackpot is more than 3 times as high as your local top prize, you would still get better value for your money, right? And if the big jackpot is $100 million or even $200 million, paying $5 for that ticket makes more sense than paying 1 euro for a ticket that could win $1 million.

In any case, you should take a look at those probabilities – you will see that some lotteries have a much better probability to win the top prizes than others. With the Italian Superenalotto, for example, your ticket has a very low probability of matching all winning numbers. But that also means that the jackpot for this lottery usually grows to be pretty big, and then stays big for a long time.

Taking into account all prize levels of the lottery

Most people are interested in knowing what the mathematical chances of winning the top prizes are. But you may want to check what your overall chances are to win any of the prizes. That number can be found on the lottery information pages on our site, along with the probabilities of all prize tiers.

The mathematical concept of expected value

This is actually a bit more complicated, compared to the abovementioned considerations. Expected value (in short EV) means considering two factors for your evaluation of a lottery:

  • the probability of winning
  • the possible reward (the prize you could win)

You can calculate your EV to win the first prize, the second-tier prize, or you calculate the overall EV, taking into account all prize tiers combined. Here is a table showing you such a calculation, based on the example of Mega Millions with a jackpot of $200 million:lotto math probability ev

As you can see, the total EV is mainly defined by the top prize tiers, because of the large amounts to be won. In the example, we are getting a total EV of 91%, which is close to 100%. This means that if the jackpot were even higher (actually, at approximately §230 million), your EV would be over 100%, which of course would be great.

But that, of course, is purely mathematical, and the odds of winning the jackpot are still not in your favor. On the other hand, people win those jackpots all the time. So why not give it a try, especially when you can easily find a jackpot larger than $250 million on our website almost at any given time? Good Luck!