Hot Lotto - Frequent Questions
1. How many states participate in Hot Lotto?
Hot Lotto is played in ten states and District of Columbia. www.powerball.com
2. What is the cost of a Hot Lotto ticket?
The cost for a single play ticket is $1.
3. When are the drawings held? Drawings are at 10:10 p.m. C.S.T. every Wednesday and Saturday.
4. What are the odds of winning a prize? The odds of winning a prize on a $1 play are 1 in 16. More detailed information on odds and prizes is available at: Hot Lotto Information
5. How many ways can a player win?
There are 9 different ways to win (including the jackpot)! Hot Lotto Information
6. Can a player purchase one ticket that is good for more than one draw? Yes. A Player may buy a Hot Lotto ticket for up to 9 consecutive draws (current draw plus the next 8 draws). This is a “multiple draw ticket”. A player may also choose to purchase a subscription for Hot Lotto. A subscription is good for 26, 52, or 104 draws. Subscription
7. Why is the Cash Option amount different than the advertised jackpot for Hot Lotto? A jackpot prize winner may choose to receive the prize money in annual payments over a period of twenty-five years, or as a single lump sum payment.
The Hot Lotto jackpot is based on a 24-year future value. If the winner chooses annual payments, the jackpot is annuitized and the prize money is paid out in twenty-five equal payments.
When a player chooses the Cash Option, the Lottery pays the money that would have been invested over 25 years directly to the player in one payment.
Both payment options are subject to income taxes. A player automatically receives the annuity option unless the player chooses the Cash Option within 60 days of claiming the jackpot prize.
8. What happens if I win the jackpot and pass away before I receive all the payments?
If a winning player passes away during the annuity payment period of a prize that is paid on an annuitized basis, the Multi-State Lottery Association’s game group, in its discretion, may accelerate the payment of all of the remaining proceeds to the player’s estate.
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