Virginia Lottery Introduces Bank a Million Game

Wednesday August 26th 2015

The Virginia Lottery is set to retire its $1,000,000 Money Ball game this weekend in favor of a new game called Bank a Million, which offers all taxes paid on the top prize, meaning that players don’t have to eat into their winnings to pay the taxman after they’ve snagged a huge windfall. The top prize is actually given to the winner as a sum of $1,408,451, which will amount to a cool million bucks after taxes.

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Starting on September 2nd, drawings will be held on Wednesday and Saturday evenings at 11:00 PM, the same as $1,000,000 Money Ball, but instead of tickets costing a flat $2 each, Bank a Million will provide players with the opportunity to submit different wagers in exchange for the possibility of winning different prize amounts. Paying the full $2 on a ticket will give you the chance to win $1 million with all taxes paid, but you can also stake $1 or 50 cents for the opportunity to beat the odds and win either $704,226 ($500,000 after taxes) or $352,113 ($250,000 after taxes) respectively.

However, your combined wager must equal $2 per ticket with no split bets - you could make four wagers of 50 cents each, but you couldn’t make one wager of $1 and three wagers of 50 cents. Have a look at the table below to learn more:

Match $2 Ticket $1 Ticket 50¢ Ticket Odds of Winning
6 Numbers $1,408,451 $704,226 $352,113 1 in 3,838,380
5 Numbers + Bonus Ball $20,000 $10,000 $5,000 1 in 639,730
5 Numbers $2,000 $1,000 $500 1 in 19,386
4 Numbers + Bonus Ball $400 $200 $100 1 in 7,754
4 Numbers $40 $20 $10 1 in 485
3 Numbers + Bonus Ball $40 $20 $10 1 in 363
3 Numbers $4 $2 $1 1 in 35
2 Numbers + Bonus Ball $8 $4 $2 1 in 47

Overall odds of winning any Bank a Million prize are 1 in 18.3.

You still have some chances to play $1,000,000 Money Ball before it goes to the great lottery in the sky - the game will close after the draw on Saturday, August 29th and Bank a Million ticket sales will begin on Sunday, 30th August. If you’re after a new way to play the lottery and want to win big without having to fork over a chunk to Uncle Sam, then Bank a Million is for you. Good luck!

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