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Everything is also simple. The main are Powerball and Mega Millions lotteries. The ticket price is from 5 to 7 dollars depending on intermediary. Draws take place 2 times a week and jackpots regularly exceed $ 100 million. Record win at Mega Millions, the world’s largest lottery, totaled $ 1 billion 600 million! The American Powerball jackpot is slightly less – $ 1 billion 580 million. The chances of winning Mega Millions’ jackpot are higher, but each Powerball win is 2 times larger. Situation with taxes is more complicated. You will have to pay 2 taxes just in the USA plus 1 tax at the place of residence:
- USA Federal tax is 39.6%
- State tax is 0 – 14%
Historically,, what are the first lotteries were held in China, and even then, these lotteries were mainly used to fund government projects. Even the Great Wall of China could be one such project.. In ancient Rome, lotteries were held during events for wealthy citizens, the proceeds from which were sent to repair work in the city. In January 1449 the war between Milan and Venice was financed by the lottery.
For centuries, lotteries have mostly been sanctioned and run by states and governments to raise funds. In a way, these lotteries served as a form of voluntary taxation of the masses.. In this regard, the percentage of revenue from ticket sales compared to prize payments has been and remains quite low..