How One Lottery Winner Blew Through $10 Million in Less Than 10 Years – DailyFinance

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Largest Single Jackpot: $267 million (2006) Prizes Paid: $1.51 billion State Profit From Sales: $729 million Government Use: https://www.rebelmouse.com/lottocashmachine/ Education The Ohio Lotto’s motto is “Take a chance on education. Odds are, you’ll have fun!” Since it began in 1974, more than $17 billion in lottery profits have gone to a state education fund. Since 1989, the state lottery association has hosted a game show called Cash Explosion Double Play on Ohio TV. The largest jackpot in the state’s history went to an individual in the town of Lyons for $267 million. Photo: Jeffrey Erb, general manager of Main Stop, and Linda Freeworth, manager of Lyons Main Stop Citgo, receive a check from the Ohio Lottery’s Marie Kilbane, right, in the store in Lyons, Ohio. on March 1, 2006. They were given $100,000 for selling the winning ticket for the $267 million Mega Millions drawing. Largest Single Jackpot: $333 million (two-state lottery win shared with New York, 2009) Prizes Paid: $1.61 billion State Profit From Sales: $1.06 billion Government Use: Education California instituted its lottery in 1984, when it was looking a method for increasing spending on education without raising taxes. The largest jackpot which included a California resident was a $336 million prize shared with a ticket holder in New York in May 2000. The largest single-ticket win for a California resident was a $315 million Mega Millions jackpot awarded in November 2005. That remains the third-largest single-ticket prize in history: An Oregon resident won $340 million in 2005 and a Nebraska resident won $365 million in 2006. In 2010, as one of his last acts in office, then-Gov. Arnold Schwarzenegger proposed a bill which would increase the efficiency of the California Lottery while increasing the percentage of ticket sales that go to state profits. Payout for ticket holders remained at 50%. Photo: On June 22, 2005, after California joined the Mega Millions club, patrons lined up to purchase the newly available lottery tickets for the first time — as well as Super Lottos, scratchers and other California Lottery games. Largest Single Jackpot: $115.5 million (1989) Prizes Paid: $1.87 billion State Profit From Sales: $916 million Government Use: Services for the elderly Since the Pennsylvania State Lottery began, it has steered $20.6 billion to a variety of causes, but its profits have primarily been funneled into an elderly benefits fund. This fund includes subsidies for transportation, tax rebates and Medicare. Currently, about 61% of the roughly $3 billion in annual ticket sales goes to prizes, while 30% goes to the state, and the rest covers expenses. That’s a higher percentage of prize return than most other states. Photo: Kristine (center left) and Steven White (center right) of Skillman, N.J., the holders of the single winning Powerball ticket for the May 8, 2004 drawing, receive their ceremonial check from the Secretary of Revenue Gregory Fajt, (left) and Executive Director of the Pennsylvania Lottery Edward Mahlman in Harrisburg, Pa.
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