Biggest Lottery Payouts in History

56

In addition to the obvious allure of choosing the winning numbers and scoring a sizable payout, arguably one of the most interesting aspects of playing the lottery is the human story behind every winning ticket.

For those lucky enough to select the correct numbers, winning the lottery is one of the rarest and best things likely to happen in a lifetime. And this has been true of lotteries across the world, with everywhere from South Africa to the United States now holding weekly draws that millions across the country tune into.

As a sign of just how popular the lottery is, out of this time-honoured, highly popular pastime, there has grown a new form of online betting that is proving a hit with fans: lotto betting.

Although it is still relatively unknown compared to other forms of betting, lotto betting has quickly gained a legion of loyal fans and is now supported by a number of different online betting platforms.

But what exactly is lotto betting?

Lotto Betting

As the name suggests, lotto betting (also known as lottery betting) involves individuals trying to predict what they think the results of a particular lottery draw will be and placing a wager on the outcome of that prediction. It is a unique type of online gambling and much like other forms of gambling such as sports betting, is run by licensed betting operators.

In a traditional lottery, players select a sequence of numbers that they think will be called out when the lottery draw is made. And if they are successful, they will be given the contents of a designated prize pool.

In lotto betting, however, instead of paying to take part in the official lottery, players will place wagers with an authorised betting operator on what they think the outcome will be.

One of the main benefits of placing a secondary bet like this is that it allows players to part in international and state lotteries they might not otherwise have had the opportunity to. This is because lotteries are usually tied to the jurisdiction in which they are held.

This also allows lotto fans the opportunity to take part in a much wider variety of national lotteries than they otherwise would. For South African lottery fans this is a fantastic development as it now means they can take part in these popular national lotteries from afar. This means that now they can get ready to play US powerball online with much less hassle!

With the basics of lotto betting in mind, what are some of the biggest wins that lotto betting fans have wagered on in recent years?

The Biggest Lotto Wins in History

Although lotto jackpots have been won by thousands of individuals from across the world, the biggest are those that have been won in America.

America has by far the biggest, highest-profile lottery anywhere in the world and is regularly played by millions across the country. With such an extensive player base, this means that the jackpots up for grabs tend to be much higher than in other parts of the world.

These jackpots have swelled to astronomical sums in recent years, with some jackpots even reaching beyond a billion dollars! Here is a rundown of the largest lottery jackpots:

·   $1.586 Billion Powerball: This powerball jackpot was won in 2016 and was split between three lucky winners from California, Florida, and Tennessee. What made the prize that little bit sweeter, was that neither of these states collect taxes on lottery wins!

·   $1.537 Billion Mega Millions: Shortly after the record breaking powerball jackpot was won in 2016, a lucky resident from South Carolina set the record for the biggest prize from a single lottery ticket. This anonymous winner scored a jackpot worth $1.537 billion!

·   $1.337 Billion Mega Millions: A luck ticket-holder from Illinois became the stuff of legend when he secured a billion dollar lottery win. Even more luckily, this player had been allowed to skip ahead in line when he secured the winning ticket by a kind stranger! This massive stroke of luck allowed him to secure the third biggest lotto payout in history!

·   $1.05 Billion Mega Millions: A four member syndicate in Detroit secured this billion dollar lottery win. This jackpot changed their both their lives and lifestyles, and saw them split up a $557 million prize pool when all the taxes were accounted for.

·   $768.4 Million Powerball: Manuel Franco from Wisconsin scored this staggering $768.4 million Powerball jackpot in 2019.

BUSINESS NEWS DAY