“How to Win the Lotto Jackpot Prize in the Philippines?” is the trending topic in social media this time. Talk of the town is how to win it in a sure way.
The 1B Peso lotto jackpot in Ultra Lotto 6/58 category is the highest prize from Philippine Charity Sweepstakes Office (PCSO) in Philippines history this time. It breaks the record of the 2010 winner from Olangapo City Zambales who won PHP 741M.
The odds of winning the lotto is 1 over 40,475,358 (million)chance. That means the probability to win the lotto is higher than you will be hit by lightning quadruple times.
So let us compute your chances of winning. If the lotto bet is P 24.00 and multiplied it to the over 40.5M chances, we can get Php 971,408,592.00 . Since the winning lotto prize is P1B, then you will get Php 28,591,408.00. But wait, P1B prize is not tax free. You need to pay the 20% of the winning prize based on the current TRAIN law. So the result is negative Php171,408,592.00. You won the lotto grand prize but you have net loss.
The chance to win the lotto 100% will not guarantee you to win the prize itself if you will follow the 1 is to 40.4M chances of winning.
Wait there’s more.
If you won, the winning jackpot prize will not be given to you in lump sum. It will be given to you in staggered basis for 10 years. Meaning your will receive P80M per year less the 20% tax. It’s not bad right? You will be earning P80M per year for just Php20 bet.
Lesson in Life to treasure
Take note that wining a Php 1B prize jackpot should not be takeit seriously. Just have fun and enjoy the game. Remember that happiness does not comes from money alone. There were also many lotto winners that became poor again after many year because of lack of financial literacy. So make it a habit to visit this blog to know more on financial literacy.
Added Info: Who can bet?
Remember that this grand lotto prize is open to every human whether you are a foreigner or a local Filipino as long as you are 18 years old and above and you got the winning 6 digit combination ticket.
It is drawn every TUESDAY, FRIDAY and SUNDAY, you have three (3) times a week, chance to win in the UltraLotto 6/58.
Good luck!
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