If you win the lottery, the first thing you may be thinking is, “Now what?” There are several options available to you. Some people choose to remain anonymous, which is perfectly normal, but there are other options available, too. In this article, we’ll explore the history of the lottery, including the first lotteries in China, the first state-sponsored lotteries in Europe, and the first multi-jurisdictional lottery in the U.S.
The origins of the lottery
The lottery has ancient roots and can be traced to Greek myths and biblical stories. It is said that the Chinese rulers used lottery games to fund public projects, and the oldest collection of Chinese poetry mentions a lottery. In the late fifteenth and early sixteenth centuries, lottery games made their way to Europe. In L’Ecluse, France, a record mentions a lottery of 4,304 tickets.
The first recorded lotteries in China
Lotteries date back to ancient times, as far back as the Han Dynasty. According to legend, lottery funds were used to build roads, bridges, libraries, and major government projects, including the Great Wall of China. The game of chance was so popular that it even made its way into the Book of Songs. In modern China, the lottery is used to select jury members. Participants must pay a fee to enter the lottery.
The first state-sponsored lotteries in Europe
The first state-sponsored lotteries in the European continent date back to the fifteenth century. France, Netherlands, and Belgium all held public lotteries. In 1521, the Italian city-state of Modena held a ventura, or lottery. The prizes in this lottery ranged from four to thirty-three florins. Its popularity soared as it was an easy way to raise money for local projects.
The first multi-jurisdictional lotteries in the U.S.
The lottery is run by the Judicial Panel on Multidistrict Litigation. During a drawing, the panel will randomly select a circuit to hear the case. The lottery does not limit the power of circuit courts to stay rulings in their jurisdictions. This new system is likely to face legal challenges. For now, it is unclear whether President Biden’s new vaccine mandate rule will be implemented.
The largest lotteries in the world
MegaMillions could set a new record for the largest jackpot in lotteries. In 2013, it was estimated that a ticket purchased in Australia would win EUR13 million, or US$17.9 million. The jackpot would increase with each rollover, until it was won. The largest jackpot in a US lottery, by comparison, was $57 million. That record was broken by one ticket in December 2013.
Taxes on lottery winnings
The government taxes lottery winnings as ordinary income, so if you win the lotto, you will need to pay taxes on it when April rolls around. In New York, for example, you’ll be taxed up to 3.876% on your winnings, and in Yonkers, you’ll be taxed at 1.477%. In some states, you may also be subject to local taxes. But if you live in a low-tax state, it’s probably best to pay the taxes on your lottery winnings as soon as possible.