Categories
BLOG

hot lotto payout

HOT LOTTO JACKPOT FOR TENNESSEE WINNER IS $5.5 MILLION!

NASHVILLE – The HOT LOTTO jackpot won in Knoxville Wednesday night will actually be a higher final payout than the estimated $4.9 million — $5,526,316 to be exact. Unique to other prizes, federal and state withholding taxes on a HOT LOTTO jackpot are paid by the lottery. Since the required state tax withholdings vary by state for the jackpot of this multi-state game, the final cash payout to the winner will also vary based on the state where the prize was won. And in Tennessee, because there is no state income tax, the winner will receive more.

The Tennessee Lottery also announced the Knoxville retailer who sold the lucky ticket: Thums Up Market, 2561 East Magnolia Ave. That retailer will receive a $5,000 selling bonus in addition to the excitement that comes with this news.

The HOT LOTTO jackpot comes on the heels of the Lottery’s record-breaking kick-off to its new fiscal year. July sales of $137 million were 14.8 percent higher than the same period of the prior year and the highest for any July since inception. This is the second HOT LOTTO jackpot prize won in Tennessee since the game launched here May 12, 2013. Two friends from Dyersburg won a $2.2 million jackpot October 13, 2013.

HOT LOTTO is a multi-jurisdictional drawing-style game featuring all cash (not annuitized) jackpots starting at $1 million. Tickets cost $1 each, with a “Sizzler” option that triples all non-jackpot prizes and costs an extra $1. Drawings are held every Wednesday and Saturday night.

About the Tennessee Education Lottery The Tennessee Education Lottery Corporation operates entirely from the revenue it generates through the sale of its products. Since January 20, 2004, the Lottery has raised more than $3.8 billion to fund designated education programs, including college grants and scholarships, after-school programs and the new Tennessee Promise initiative. In addition to the educational beneficiaries, players have won more than $10.1 billion in prizes and Lottery retailers have earned more than $978 million in retailer commissions.

HOT LOTTO JACKPOT FOR TENNESSEE WINNER IS $5.5 MILLION! NASHVILLE – The HOT LOTTO jackpot won in Knoxville Wednesday night will actually be a higher final payout than the estimated $4.9 million —