Are you feeling lucky? Then it might be time for you to use your winning numbers and get a lottery ticket. But each state has different laws and rules for their scratch games, mega millions, and Powerball – so if you live in Colorado, let’s learn everything there is to know about winning big.
What Are the Types of Lottery Games?
Colorado lottery games include scratch tickets, games with jackpot prizes, and multi-state lottery games like Mega Millions and Powerball. They also offer something called Colorado Lotto+, similar to Mega Millions, except you can add a $1 multiplier to increase your winnings.
To play any of these games, you’ll visit lottery retailers in the state of Colorado and ask a cashier about Colorado lottery tickets for whichever game you’re hoping to play. If your game involves choosing winning numbers, you can either tell them your choices or use the “quick pick” system to have them randomly selected for you.
How Can I Claim My Prizes?
Won some money in the lottery drawing? Congratulations! Now it’s time to claim your lottery prize. Claiming your prize differs depending on how much money you won.
For Amounts Less Than $600
If you win under $600, you can usually visit a lottery retailer for instant cash winnings. These winnings will not be taxed, so whatever you win is what you’ll keep!
For Amounts $600 or More
If you win a top prize, you’ll need to put in a little more work before the money is in your hands. There are two options here. The first is to mail your signed ticket to the Lottery’s Pueblo Headquarters with a Lottery claim form attached. You can find the claim form here.
Or, you can take your ticket to one of the Lottery’s four claims centers in person. These are in Denver, Fort Collins, Grand Junction, and Pueblo. Any prize over $5,000 is taxable for U.S. Citizens, with a total of about 28 percent of winnings withheld.
If you win the jackpot on a ticket, it is considered part of the Colorado Open Records Act. This means that you will not be able to remain anonymous, and they will post your first name and last initial publicly on the Colorado Lottery website.
If you win the Lucky for Life game, you’ll be paid $7,000 a week for the duration of your natural life. You’ll have the option to take cash value for these winnings. And you can feel good that the remaining funds go to the Colorado Parks and Wildlife and state parks.
Second Chance Drawings
The chances of winning a scratch-off game are one in four (much higher than Mega Millions), but if you don’t win, you’re eligible for a second chance drawing. All you need to do is go to the Colorado Lottery website and input the 22-digit number under the scratch-off coating. From there, they will enter your ticket into a raffle where you might be able to win a prize.
In Conclusion
Playing the lottery is a fun and exciting way to possibly win some cash. And the great outdoors of Colorado are one of the best places to play. However, you don’t need to spend money to win money.
Yotta is an account that pays out interest in prizes. The more you save, the better your odds of winning. Get started today to create your account and start making finances fun.
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