European lotteries vs American lotteries
European lotteries and American lotteries
Some of the top paying lottery draws in the world are hosted in Europe and America, and there are just as many similarities between them as there are differences. Until recently, lottery enthusiasts had no chance but to play the games offered in their state or country, as tickets were only sold in local stores. Now that online lottery vendors are selling tickets all over the world, players should be aware of these variations if they are to make an educated decision.
Similarities between European lotteries and American lotteries
The MegaMillions and Powerball are the most popular lotteries in the United States, while the EuroMillions hold most records in Europe. The Spanish El Gordo and El Nino are played after slightly different rules, but they are also responsible for amassing some of the largest prize pools in lottery history. All of these lotteries have in common the fact that they are state franchises, and closely overseen by the authorities, whether a private contractor organizes them or not.
Despite the fact that the two American lotteries are based on a 5+1 system and the EuroMillions have five main numbers and two lucky stars, the odds of winning the prizes are pretty much the same. If there is nobody capable of matching all of the numbers in any given week, the jackpot is rolled over and the next main prize is increased. Another similarity is that not all of the money collected from buying tickets goes towards fueling the prizes, with a portion being used by the lotteries for funding good causes and charity.
Differences between European lotteries and American lotteries
For starters, neither MegaMillions nor the Powerball have a jackpot cap, and in theory the prizes can grow indefinitely whereas the EuroMillions has been capped at €190 million. The record for the largest single ticket price ever won is still held by the European lottery despite this cap, but the Powerball came close to shattering this record in 2012. Another important difference has to do with the manner in which the authorities collect their share, with American lottery jackpots being taxed by the IRS.
Most European lotteries are still tax-free, although both the Spanish El Gordo and El Nino jackpots with the text starts in on January 1, 2013. Prizes are awarded to winners in the form of annuity in the United States, unless the lucky player chooses to receive the lump payment. If this is his decision, then the total amount is further taxed, and in the end the winner receives around half of the total jackpot. In European lotteries, the standard payout is a lump sum, that is credited the player’s account immediately after he has been confirmed as winner.
Back to Lotteries Home.
