Only the winnings of 1.75 trillion US… Lotto stories from around the world

There are often questions among people who enjoy lottery in Korea. “Why aren’t the winnings carried over like foreign countries?” “Why is the winnings so small compared to other countries?” Etc. It was possible to carry over in Korea until August 2004, just after the lotto was introduced. In fact, there was a winner of the first prize, who won 40 billion won, the highest amount ever in lottery at the time.

Currently, it is legally possible to carry over a lotto twice in Korea. However, as there are so many people who purchase lottery, the industry sees that there is little chance that the winnings will be carried over. Currently, the amount of winning the 1st lottery is in the early 1 billion range. It’s still a’billion’ amount, but it’s true that it looks small when you look at overseas lotteries. ‘Trillion’ unit winnings come from other countries.

Of course, the odds of winning overseas lottery are very slim. In particular, in most states in the United States, first place lottery winners must disclose their identity in order to receive the prize. It’s a very different part from domestic. Sometimes, when I look at international news, I see a huge number of first-place winners taking pictures with bright smiles, and this is the reason behind this.

Everyone goes on a LAN line trip with Corona. What country is the ‘Trillion Unit’ prize money, and how is the game system? I will go on a world tour with a ‘Lotto’.

In early January of this year, there was a “megamillion” frenzy across the United States. Mega Million is a popular lotto in the United States. This is because the winnings continued to accumulate when the No. 1 winner did not come out after September 15 last year. That amount was a whopping 1 billion dollars (about 1,015 trillion won).

After four months, on January 23rd, a winner with 1 billion dollars came out, and the third-largest prize in American lottery history. So far, the largest amount of winnings in the U.S. was $1.586 billion (1,752.5 billion won) for Powerball in January 2016. Then, in October 2018, Mega Million $1.537 billion (1,6983 billion won) was second.

The two major lottery mountains in the United States are’Megamillions’ and’Powerballs’. Powerball is a game in which you have to hit 5 of the numbers 1 to 69 and another one of the numbers 1 to 26 (red powerball). In the case of Mega Millions, you have to hit 5 of the numbers 1 to 70, and again one of the numbers 1 to 25 (the gold Mega Ball).

Therefore, the probability of winning first place for both Powerball and Mega Million is a small’one in 300 million’. It is said that the probability of being born as a person with an allergic reaction to water is 1 in 230 million. The odds of winning the American lottery are slimmer than this. Portland State University mathematician and statistician Professor Stephen Blailer said that this probability is as difficult as putting all the M&M chocolates in a 12m wide, 36.5m long, and 152cm deep swimming pool and picking up a green egg. I did, but can you get a feel for it?

It is a reality that the first place winners in the US Powerball and Mega Millions are counted among the ten fingers in a year due to the very small probability of winning. Nevertheless, powerballs and mega-millions are hugely popular across the country (both cost $2 per piece). The reason is that, as mentioned earlier, if the No. 1 winner does not appear, it will be carried over. That is also’infinite’. Foreigners are no exception to the dream of winning the 1st prize, which grows indefinitely. Non-resident foreigners can buy Mega Millions and Powerballs locally.

If you win the Powerball and Mega Millions first place in the United States, you must disclose your identity, not just check the identity of the people involved. Not all states are applicable, but most states do. It can be seen that it is very different from the Korean atmosphere that the identity of the first prize winner must be thoroughly protected.

In Europe, a lotto called’Euro Million’ is famous. It is an integrated European lotto created by a total of 9 countries including the UK, France, Austria, Belgium, Ireland, Luxembourg, Portugal, Switzerland and Spain. It is a structure to win 1st place only when 5 of the numbers 1-50 and 2 of the numbers 1-12, which are called’stars of good luck’, are matched. The probability of winning the first prize is 1.76.72 million times. The first prize is limited to a maximum of 190 million euros. However, if there is no first prize winner, it will continue to be carried over to the next round as in the United States.

The tax paid depends on which country you are a citizen. For European nationals, it is low at 6~13%, but non-resident foreigners are taxed according to the agreement between the country and the country to which the winner belongs. On the day when the coronavirus ends soon and you can freely travel to Europe, if you buy Euromillion, it would be better to buy it in a country that has a more favorable taxation agreement with Korea.

There are countries where lottery tickets have been issued since 1763, and the culture of lottery is deeply established in everyday life. Spain is famous for the so-called’Loteria de Navidad’. It was released only once a year in line with the Christmas season, so it was a nickname that I got, but the official name is’El gordo’.

First sold in 1812, El Gordo has a long history of over two centuries. In Spanish, it means’fat’. This is because it is the largest in the world with a total prize pool of 2.48.9 billion euros (3,206 billion won) annually, and the first prize winner is also the most popular lottery ticket.

El Gordo is released by printing numbers between 00000 and 99999, that is, 100,000 total numbers. As of 2020, there are 172 winners.

The price per sheet is 20 euros (about 26900 won), so it is quite expensive. Usually, you buy a set of 10 pieces each, and it costs 200 euros (about 260,000 won). So, in Spain, there is a culture of saving money with family friends, mainly buying El Gordo, and sharing winnings. It is different from lotteries in other countries, which drive the winnings to only one or a few.

El Gordo’s lottery, which enjoys the status of “National Lottery,” so that more than 90% of the Spanish people live every year, takes place just before Christmas. Still, as El Gordo draws closer to the Christmas season, Spain enjoys a festive atmosphere.

The method of picking the five digits of luck is also unique. After turning 85,000 wooden marbles into a golden iron fence, the children announce the numbers picked from them. There may be some people asking, ‘Oh my god, they’re kids?’ But that’s the point. The fairness of lottery draws in any country is important. Spain is to ensure fairness by entrusting this to children with pure eyes more than anyone else. Those who have won the first place at the same time from all over the country burst into champagne and hug. Those who didn’t win will look forward to next year’s good luck as they are.

As the corona grows longer, more things are added to the’Cokit List’. When the day comes when you can freely roam around the world, I definitely want to buy a variety of lotto. Realistic concerns also follow. `If ​​I win the lottery abroad, will that much money really become my money? Tax?` `Is ​​there any problem with overseas lottery purchases?` etc. If you are having a similar problem with me, it may be useless, but if you have any questions about the lotto that can be a vitality for a week at the same time, please feel free to email us. I will work hard for another week.

[방영덕 매경닷컴 기자 [email protected]]

* Not all journalists are good at talking. Especially with someone you see for the first time. Material is required. Anyone can easily access and enjoy it,’Lotto’. It is not free from roor or specularity. However, if you focus on’people’, you can see joy, sadness, and sorrow. If you focus on’winning money’, you can talk about taxes, finances, statistics, and more.

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