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Mega Millions lottery jackpot luring Canadians south
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Daily Brew
We're used to the occasional outburst of lottery mania in Canada, such as when the Lotto 6/49 jackpot reached $54.3 million back in October 2005.
But that's chump change compared to the U.S. Mega Millions jackpot that will be won in tonight's draw for the multi-state lottery.
As of around noon Friday, the lottery estimated the jackpot was worth US$640 million, which is paid out in installments over several years. The winner or winners can opt for a US$462-million one-time payout.
A lot of Canadians are being lured across the border by the prospect of taking home that immense prize, billed as the largest in the world.
Rosie Taylor has seen a lot of Canadians at the GasTrak convenience store in Portal, North Dakota, just south of Estevan, Sask.
"We have a lot of workers that go back and forth anyways but they have bought more than usual on the lottery tickets," she told CJME NewsTalk 980.
"We don't discriminate," said Mary Cassani, the administrative services manager at Vermont Lottery, told the Toronto Star. "People, they'll email us and want to know, 'Can Canadians win the lottery?' Absolutely."
The Mega Millions lottery is available in 42 states, plus the District of Columbia and the U.S. Virgin Islands.
While you're salivating over a potential payday that's bigger than the market value of a good-sized corporation, you should keep a couple of things in mind.
First, the odds of winning the Mega Millions jackpot are roughly 176 million to one.
Second, while lottery prizes aren't taxable in Canada, Uncle Sam and his state-level colleagues take a big bite of jackpots south of the line.
Prizes are subject to a federal withholding tax of 30 per cent, which out-of-country players can apply to have rebated. Most states also tack on their own taxes, up to 30 per cent, according to the Star.
Michigan Lottery spokeswoman Andi Brancato said Canadians have won smaller prizes in previous draws but never a jackpot. No hard feelings if a Canuck won this time, she told the Star.
"Whenever we have a jackpot winner, everybody is disappointed," said Brancato. "So I think people would experience the same kind of disappointment (if the winner was Canadian).
"But, you know, we're selling a product and we would be happy to give somebody this prize money."
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