Online Lottery Jackpot Announces Series A Round of Funding

online lottery jackpot

Online lottery jackpot is a digital platform that facilitates the purchase of official state lottery tickets online. Its $35 million Series A round is led by big names in sports, which see the potential for digital growth in the $100 billion-per-year lottery business. This funding will enable the company to launch its product later this year in states where it is legal to sell lottery tickets online.

The Mega Millions lottery is available in 45 U.S. states, plus Washington, DC, and the US Virgin Islands. Players can buy tickets for $2 each, choosing five numbers out of 70 and one Mega Ball number (or let the computer do it for them). The jackpot starts at $15 million and grows by the number of winning ticket holders. In 2018, a lucky player won the second-largest jackpot in American history, with a prize of over $1.537 billion.

A player can choose to receive their winnings in a lump sum, or as an annuity over 30 years. The latter option means that the player will receive smaller payments each year for decades, and may be more tax-efficient depending on their personal tax rate.

The best online lottery sites offer a wide variety of payment methods, including credit cards. Moreover, many of them provide multiple ways for players to check their results. Some even offer mobile apps to make it easier for players to play on the go. For instance, Smart Luck by SamLotto is an online lottery site that promises to help users win a million dollars or more in just a few months.