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| Q:
What does "overall odds of winning" mean? The odds printed on the back of the Idaho Lottery instant scratch tickets are the overall odds for the entire quantity of tickets printed for the specific game indicated. The odds are calculated by taking the total number of tickets printed divided by the number of winning tickets. The winning tickets are randomly distributed, therefore it is possible to purchase several tickets without having a winning ticket, just as it is possible to have them all be winning tickets. |
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Q:
Can a player write-off Lottery losses on federal
taxes?
Those who have won thousands or millions of dollars in the Lottery know that 27 percent federal withholding is taken out of winnings in the form of taxes. If $600 or more is won on a single wager, the Lottery is required to report those winnings to the IRS. |
| Q:
How do you calculate the odds of winning the
Powerball jackpot? To play Powerball, the player must pick five numbers from a field of 53 numbers and one number from a field of 42 numbers. The following basic odds formula can be used to calculate the odds of winning the Powerball jackpot (1:120,526,770): |