A guide to tax-free lotto draws – January 17th 2012

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Playing any lottery is fun, but a few fans may feel put off by the fact some payouts could be less than their estimated value after tax has been deducted from them – and in some cases as much as 40 per cent may be slashed from jackpot totals.

However, this is not always the case, as there are many lotto games that do not subtract such duties from a prize at all – which may be of interest to those who want to ensure they keep the entirety of their lottery winnings to themselves.

The Italian SuperEnalotto is just one of the many draws enthusiasts can get involved in.

If a player is fortunate enough to get all their numbers right playing this game then they will get to take home the complete prize as a cash sum – which means no annuity payouts or monthly instalments and they keep the entire jackpot for themselves if they are the sole winner that day.

So, if a lotto fan enters his or her numbers for tonight’s (January 17th) Italian SuperEnalotto draw, they will get the opportunity to bank the entire estimated top prize of €53.7 million.

Another popular lottery with no duties is the EuroMillions, which is the biggest tax-free Euro lotto.

The EuroMillions sells tickets in nine European countries and is popular online across the world because it gives its fans the entirety of the prize money if their luck comes in.

This draw has resulted in some of the wealthiest lotto winners on the continent, with the records being smashed only last year when Christine and Colin Weir of Largs in Scotland took home a total of €185 million in jackpot money.

Finally, the Spanish El Gordo is also free from having tax deducted from its top prize payouts.

The lottery is already considered one of the more generous in the world of lotto because 70 per cent of ticket revenues are paid out in winnings to those who enter the draws, but the fact players can cash in on the entire amount of their winnings makes it even more appealing.

Those who want to get involved with the Spanish El Gordo can do so online at theLotter for the next draw on January 22nd, when the jackpot is expected to reach €10.6 million.