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California Lottery SuperLotto Plus Jackpot Soars to $58 Million28 August 2001SACRAMENTO,California -- (Press Release) -- It may get hotter than the mark on the thermometer as residents catch the latest Lotto Fever spreading throughout California. Powerball enthusiasts in 21 states played for an eye-popping jackpot but now Californians have a $58 million jackpot to fuel their most outlandish dreams. `` Buying into the SuperLotto Plus jackpot of $58 million only costs a dollar,'' said Lottery Director Joan Wilson. ``It's fun just thinking about spending a dollar and what a return that dollar might bring.'' The California Lottery currently has the largest single state lottery jackpot in the country. A single jackpot winner of $58 million would receive 26 annual payments with the first payment equaling approximately $1.4 million and the 26th payment being approximately $2.9 million before taxes. The estimated cash value would equal roughly half of the jackpot, $29 million or the amount the lottery would invest to payout the jackpot prize over 26 years. In the event of the death of a winner, the full prize is paid to the estate of the winner. A retailer who sells this winning ticket will receive a commission one half of one percent or $285,000. Alcario Castellano of Santa Clara, California made Lottery history when he won the record-breaking largest jackpot in Lottery history of $141 million on June 23, 2001 making him the largest individual prize winner in California Lottery history. With at least 34% of all Lottery sales going to education, the sales from this jackpot (which has rolled 7 times) will generate an estimated $33 million for public education. California's Schools have received $13 billion from 34% of Lottery sales since 1985. |