Virginia Lottery Introduces Bank a Million GameWednesday 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.
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!