Online lottery tickets are an excellent way to increase your chances of winning. However, you need to be sure that you are buying a legitimate ticket.
Prior to 2011, only a few states offered online lottery sales. But in 2011, the Department of Justice clarified its position on the Wire Act and opened the door for states to offer online lottery sales.
Legality
Many states are considering expanding their lotteries by offering online ticket sales. Some of these states include New Hampshire, which launched its own online lottery last summer.
In 2011, the Justice Department gave states permission to sell tickets online without violating the Wire Act, which previously considered gambling-related electronic transactions illegal. This was a big win for individual states.
While the legality of online lotteries is still in question, the situation is favorable for more states to legalize them. Six states have already enacted laws authorizing them to offer their games online, and three others are in the process of doing so.
If you live in a state that is considering legalizing online lottery, it’s important to understand the laws and regulations. These laws may limit your options, such as whether you can purchase a ticket online from a person who lives outside of the state.
Games offered
Online lotteries offer a wide range of games. A few offer instant win opportunities such as online scratch cards, keno and even bingo. The best online lottery sites also boast some of the best customer service in the industry. Some even go so far as to offer bonus points or free prizes to loyal customers. The most popular online games include the mega million dollars, jackpot, Powerball and Mega Millions, the latter of which offers some of the biggest payouts in the country. Other offerings abound including daily, weekly and monthly draws. Besides the obvious offerings, some states have rolled out a new breed of online lotteries that meld traditional lottery sales with innovative online marketing tactics. Some offer a smorgasbord of multi-state games, while others are more focused on their in-house offerings. Some even feature mobile apps for your Android or iOS device.
The top of the class for a number of reasons is the iLottery, a multistate online lottery in the form of an app that allows consumers to play a variety of online and mobile games on the go. The game boasts many of the same big-name offerings found in their brick-and-mortar cousins, but also offers a slew of innovative new features such as live video feeds from each state’s lottery offices. The company also has a well-trained team of dedicated agents ready to take your call.
Payment options
Online lottery players have a wide range of payment options. These include credit/debit cards, prepaid cards, and bank transfers.
Some of these methods are instant, while others may take a few hours or days. The best option is to use a reputable lottery site that accepts your preferred payment method.
Some lottery sites are regulated by state gaming authorities, which means that they’re a safe place to play. They also have SSL encryption software that keeps your personal details safe.
Taxes
Have you ever found cash in a jacket or pair of pants that felt like a big surprise? Those kinds of unexpected finds can be great when you need some extra money to pay the bills or buy something you didn’t expect.
However, you should be aware that winnings like these are taxable. Both the IRS and your state tax agencies treat lottery winnings as income in the year you receive them.
The federal government withholds a portion of your prize income to cover the amount of tax you owe, depending on your tax bracket. If your federal tax rate is high, the amount withheld may not fully cover your taxes, and you’ll have to make estimated payments in advance.
The good news is that there are ways to minimize the impact of lottery taxes on your prize money. One way is to take your winnings as a lump sum instead of spreading them out over a long period of time. This could lower your tax bill in the long run by keeping you in a lower tax bracket.