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Superenalotto jackpot up to 119.5 mln euros

Italian game offering world's biggest payout

24 August, 18:17
Superenalotto jackpot up to 119.5 mln euros (ANSA) - Rome, August 24 - Italy's popular SuperEnalotto lottery is still offering the world's biggest jackpot, with almost 120 million euros ($150 million) now up for grabs in Tuesday night's draw.

After winners only picked up lower prizes on Saturday night, the current jackpot of 119.5 million euros is the third-highest ever in Italy.

The big payout has now failed to come up in the last 83 of the thrice-weekly draws.

This is hardly surprising as betters have only a one in 622 million chance of claiming the prize.

Last February two winning slips divided a SuperEnalotto pot worth 139.1 million euros, the second-highest ever in Italy after the staggering August 2009 win in Tuscany of a whopping 147.8 billion euros, a European record.

The Italian game has a big advantage over many other ones, especially those in the United States, because it pays out the full prize and winners receive interest on the pot from the time they redeem their slips to when they receive complete payment, which usually takes two months for big payouts.

Winners of the American games, on the other hand, receive the pot in long-term instalments, which often work out to be more or less the interest on the capital won over a 20-year period, or a single, reduced prize.

Furthermore, SuperEnalotto winners can, and usually do, remain anonymous.

The Italian Treasury, however, is the biggest winner in SuperEnalotto because it receives 49.5% of all bets made, far more than other national betting games which pay it between 20% and 25%.

The pool itself receives 38% of bets, slip vendors receive 8% and game organizers Sisal take a 4.4% cut.

Last year SuperEnalotto raked in over 3.3 billion euros, which meant that the state pocketed some 1.6 billion euros.

In order to win at SuperEnalotto jackpot betters must pick the correct six numbers drawn from one to 90. Draws are held three times a week: Tuesdays, Thursdays and Saturdays.

The game also offers a big payout for a so-called 5+1 win in which an extra, seventh number is drawn and can be matched up with any five of the six winning numbers.

SuperEnalotto also pays out minor prizes for five, four and three correct guesses.

Each six-number combination costs 50 cents with a minimum two-combination or one-euro bet.

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