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California's SuperLotto Plus Jackpot Skyrockets to $115 Million22 August 2002SACRAMENTO, California --(Press Release)-- Lottery officials announced the estimated SuperLotto Plus jackpot for Saturday night's draw at $115 million. "Sales are phenomenal and the jackpot is at a record-breaking $115 million, our fourth highest since the start-up of the Lottery in 1985," said Joan Wilson, Director of the California Lottery. "What a great way to end the summer of 2002! The best part is the $72 million that will go to the state's public schools." A single jackpot winner of $115 million would receive 26 annual payments with the first payment equaling approximately $2.87 million and the 26th payment being approximately $5.86 million before taxes. The estimated cash value would equal roughly half of the jackpot, $57 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 the winning ticket would receive 1/2 of 1% of the jackpot as a bonus for selling the winning ticket. A single winning ticket would yield $575,000 for the retailer. On February 16, 2002 the largest jackpot in California Lottery history reached $193 million and was won by 3 winning tickets from Orange, Half Moon Bay and Montebello. On June 23, 2001 the second largest jackpot in California Lottery history reached $141 million and was won by a single winning ticket. Alcario Castellano of San Jose, California became the record-breaking highest individual jackpot winner of $141 million. The third largest jackpot was $118 million won in April of 1991 by 10 winning tickets and 54 winners. |