The other five percent of revenue from ticket sales is used to cover costs and operating expenses. School boards in each district decide how their share of the money will be spent the California Lottery has no input into this process. The State Controller’s Office (SCO) determines how much money each school district or county will receive at the end of every quarter, and this is then allocated to each district through the State’s Department of Education and County Superintendents. The California Lottery has contributed more than $39 billion to public education since 1985, providing important funding for institutions at all levels, from K-12 right through to Community Colleges and universities. Ninety-five cents from every dollar spent on lottery tickets in California is given back to the community in the form of prize money, funding for education, and compensation for retailers. Prizes claimed through the California Lottery can take up to six weeks to process. You need to fill in a claim form and send it to the following address, along with your winning ticket: LocationĪlternatively, you can claim prizes of any value by mail. Office hours are Monday to Friday between 8:00am and 5:00pm Pacific Time, excluding holidays. For prizes over this amount, you must complete a California Lottery claim form and take it to one of the District Offices below. Prizes worth up to $599 can be claimed from any licensed lottery retailer in California. Finally, when the jackpot exceeds $250 million, at least 60 percent is allocated to the top prize and eight percent to the reserve fund. When the jackpot is more than $120 million but less than or equal to $250 million, 64 percent of the prize fund is allocated to the jackpot and four percent to the prize reserve. When the annuitized jackpot is worth $120 million or less, 68 percent of the prize fund is allocated to the jackpot and nothing is allocated to the prize fund. The percentage allocated to the jackpot and the prize reserve changes depending on the size of the jackpot for the previous draw. The table below shows how the total prize pool is split: Prize Category As a result, the prize amounts may differ to those awarded in other states. State law dictates that CA Powerball prizes must all be calculated on a pari-mutuel basis, meaning that they depend on how many tickets are sold and how many winners there are.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |