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How Lotteries Work

Mega Millions officials have announced that a lucky ticket buyer in Ohio won the $196 million prize. How are lottery odds calculated? And what happens after someone wins? What sort of payments and taxes are involved?

The game with the biggest jackpot is almost always Lotto. This game usually involves picking the correct six numbers from a set of balls, with each ball numbered from 1 to 50… » Full Story on HowStuffWorks
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