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A lottery is a form of legalized government gambling that involves raffling for a prize. Lotteries are proscribed by some governments, while others endorse it to the point of organizing a national or state lottery. It is common to find some degree of regulation of the lottery by governments; The most common regulation is the prohibition of selling to minors. Although lotteries were common in the United States and in some other countries during the 19th century, at the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the United States and most of Europe. Many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to reappear around the world as a means for governments to increase their incomes without raising taxes.
Lotteries come in many formats. For example, the prize may be a fixed amount of cash or property. In this format there is risk to the organizer if enough tickets are sold. More commonly, the prize fund will be a fixed percentage of revenue. A popular form of this is the "50-50" draw where the organizers promise that the prize will be 50% of the income. Many recent lotteries allow buyers to select numbers on the lottery ticket, resulting in the possibility of several winners.
The purchase of lottery tickets can not be accounted for by decision models based on the maximization of expected value. The reason is that lottery tickets cost more than the expected profit, as evidenced by lottery math, so someone who maximizes the expected value should not buy lottery tickets. However, lottery purchases can be explained by decision models based on the maximization of expected utility, since the curvature of the utility function can be adjusted to capture risk-seeking behavior. More general models based on utility functions defined in other things besides the lottery results can also explain the lottery purchase. In addition to lottery prizes, the ticket can allow some buyers to experience an excitement and enjoy a fantasy of getting rich. If the entertainment value (or other non-monetary value) obtained by gambling is high enough for a particular individual, then buying a lottery ticket could represent a profit on the full benefit. In such a case, the des-utility of a monetary loss could be offset by the expected combined profit of monetary and non-monetary gain, thus making the purchase a rational decision for that person.
Classical History
The first recorded signs of a lottery are keno slips of the Chinese Han Dynasty between 205 and 187 BC. It is believed that these lotteries have helped finance major government projects such as the Great Wall of China. From the Chinese "The Book of Songs" (2nd millennium BC) comes a reference to a game of chance as "the drawing of wood", which in the context seems to describe the draw.
From Celtic times, the Cornish words "teulel pren" are translated "to throw wood" and means "to draw lots".
Homer's Iliad refers to the batches placed in the hull of Agamemnon to determine who would fight Hector.
The first European lotteries took place during the Roman Empire, mainly as fun at parties. Each guest would receive a ticket, and prizes would often consist of luxury items such as tableware. Every ticket holder would be sure to win something. This type of lottery, however, was nothing more than the distribution of gifts by wealthy nobles during the saturnine festivals. The first records of a lottery that offers tickets for sale is the lottery organized by the Roman emperor Augustus Caesar. The funds were for repairs in the city of Rome, and the winners received prizes in the form of items of uneven value.
Probability of winning
The chances of winning a lottery prize can vary widely depending on the design of the lottery, and are determined by several factors, including the count of possible numbers, the number of winning numbers drawn, if the order is significant or if the numbers drawn are Returned. Possibility of additional drawing.
In a single 6 of 49 lottery, a player chooses six numbers from 1 to 49 (no duplicates are allowed). If the number of six-player tickets matches those produced in the official draw (regardless of the order in which the numbers are drawn), then the player is a jackpot winner. For this lottery, the probability of being a jackpot winner is 1 at 13,983,816.
In bonusball lotteries where the bonus ball is mandatory, the odds are often even lower. In the Mega Millions multi-state lottery in the United States, 5 numbers are taken from a group of 75 and a number is drawn from a group of 15, and a player must match the 6 balls to win the pot. The probability of winning the pot is 1 in 258.890.850.
The odds of winning can also be reduced by increasing the group from which the numbers are drawn. In the SuperEnalotto of Italy, players must match 6 numbers of 90. The probability of winning the pot is 1 in 622.614.630.
Most lotteries give smaller prizes to match just a few of the winning numbers. The game Mega Millions gives a prize (US $ 1) if a player matches only the bonus ball. The weekly 6/49 lottery operated by the ILLF offers a two-ball cash prize, for which the odds are 1 in 6.63. In the UK National Lottery the smallest prize is 25 to match three balls. Recently, the organizers have changed the rules and offer GBP 2 to match 2 numbers.
By equaling more numbers, the payment goes up. Although none of these additional prizes affect the odds of winning the pot, they improve the odds of winning something and therefore add a bit to the pot value. On the other hand, smaller multiples usually mean smaller packages. It is common for the pot to split evenly if several players have innings with all winning numbers.
Payment of prizes
The benefits (in the United States) are not necessarily paid in a lump sum, contrary to the expectation of many lottery participants. In some countries, mainly the United States, the winner can choose between an annuity payment and a single payment. The single payment (in cash or a lump sum) is a "lesser" amount than the advertised jackpot (annuity), even before applying any withholding to which the prize is subject. While withholding varies by jurisdiction and how the winnings are invested, it is suggested that the winner who chooses a lump sum expects to pocket 1/3 of the jackpot announced at the end of the fiscal year. Therefore, a winner of a $ 100,000,000 pot that chooses cash can expect $ 33,333,333.33 net after filing the income tax document for the year in which the pot was won.
Lottery annuities are often for a period of 20 to 30 years. Some lottery games in the United States, especially those that offer a lifetime prize, do not offer a lump sum option.
In some online lotteries, annual payments are only $ 25,000, with a balloon payment in the last year. This type of installment payment is often done through investing in government-backed securities. Online lotteries pay winners through their insurance backing. However, many winners choose a lump sum because they believe they can get a better rate of return on their investment elsewhere.
In some countries, lottery winnings are not subject to personal income tax, so there are no tax consequences to consider when choosing a payment option. In France, Canada, Australia, Germany, Ireland, Italy, New Zealand, Finland and UK, all prizes are immediately paid as a lump sum, tax free for the winner. In Liechtenstein, all winnings are tax-free and the winner may choose to receive a lump sum or annuity with respect to Jackpot prizes.
In the United States, federal courts have consistently held that lump sum payments received from third parties in exchange for lottery annuity rights are not capital goods for tax purposes. Rather, the overall amount is subject to the ordinary treatment of income tax.
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A lottery is a form of legalized government gambling that involves raffling for a prize. Lotteries are proscribed by some governments, while others endorse it to the point of organizing a national or state lottery. It is common to find some degree of regulation of the lottery by governments; The most common regulation is the prohibition of selling to minors. Although lotteries were common in the United States and in some other countries during the 19th century, at the beginning of the 20th century, most forms of gambling, including lotteries and sweepstakes, were illegal in the United States and most of Europe. Many other countries. This remained so until well after World War II. In the 1960s, casinos and lotteries began to reappear around the world as a means for governments to increase their incomes without raising taxes.
Lotteries come in many formats. For example, the prize may be a fixed amount of cash or property. In this format there is risk to the organizer if enough tickets are sold. More commonly, the prize fund will be a fixed percentage of revenue. A popular form of this is the "50-50" draw where the organizers promise that the prize will be 50% of the income. Many recent lotteries allow buyers to select numbers on the lottery ticket, resulting in the possibility of several winners.
The purchase of lottery tickets can not be accounted for by decision models based on the maximization of expected value. The reason is that lottery tickets cost more than the expected profit, as evidenced by lottery math, so someone who maximizes the expected value should not buy lottery tickets. However, lottery purchases can be explained by decision models based on the maximization of expected utility, since the curvature of the utility function can be adjusted to capture risk-seeking behavior. More general models based on utility functions defined in other things besides the lottery results can also explain the lottery purchase. In addition to lottery prizes, the ticket can allow some buyers to experience an excitement and enjoy a fantasy of getting rich. If the entertainment value (or other non-monetary value) obtained by gambling is high enough for a particular individual, then buying a lottery ticket could represent a profit on the full benefit. In such a case, the des-utility of a monetary loss could be offset by the expected combined profit of monetary and non-monetary gain, thus making the purchase a rational decision for that person.
Classical History
The first recorded signs of a lottery are keno slips of the Chinese Han Dynasty between 205 and 187 BC. It is believed that these lotteries have helped finance major government projects such as the Great Wall of China. From the Chinese "The Book of Songs" (2nd millennium BC) comes a reference to a game of chance as "the drawing of wood", which in the context seems to describe the draw.
From Celtic times, the Cornish words "teulel pren" are translated "to throw wood" and means "to draw lots".
Homer's Iliad refers to the batches placed in the hull of Agamemnon to determine who would fight Hector.
The first European lotteries took place during the Roman Empire, mainly as fun at parties. Each guest would receive a ticket, and prizes would often consist of luxury items such as tableware. Every ticket holder would be sure to win something. This type of lottery, however, was nothing more than the distribution of gifts by wealthy nobles during the saturnine festivals. The first records of a lottery that offers tickets for sale is the lottery organized by the Roman emperor Augustus Caesar. The funds were for repairs in the city of Rome, and the winners received prizes in the form of items of uneven value.
Probability of winning
The chances of winning a lottery prize vary widely depending on the design of the lottery, and are determined by several factors, including possible count numbers, number of winning numbers drawn, if the order is significant or if the numbers drawn are returned by the Possibility of additional drawing.
In a single 6 of 49 lottery, the player chooses six numbers from 1 to 49 (no duplicates allowed). If the number of six-player tickets matches those produced in the official draw (regardless of the order in which the numbers are drawn), then the player is a jackpot winner. For this lottery, the probability of being a jackpot winner is 1 at 13,983,816.
In bonusball lotteries where the bonus ball is mandatory, the odds are often even lower. In the Mega Millions multi-state lottery in the United States, 5 numbers are taken from a group of 75 and a number is drawn from a group of 15, and the player must match all 6 balls to win the pot. The probability of winning the pot is 1 in 258.890.850.
The odds of winning are also reduced by increasing the group from which the numbers are drawn. In the SuperEnalotto of Italy, players must match 6 numbers of 90. The probability of winning the pot is 1 in 622.614.630. Most lotteries give smaller prizes to match just a few of the winning numbers. The game Mega Millions gives a prize ($ 1) if a player matches only the bonus ball. The weekly 6/49 lottery operated by the ILLF [citation needed] offers a two-ball cash prize, for which the odds are 1 in 6.63. In the UK National Lottery the smallest prize is 25 to match three balls. Recently, the organizers have changed the rules and offer GBP 2 to match 2 numbers.
By equaling more numbers, the payment goes up. Although none of these additional prizes affect the odds of winning the pot, they improve the odds of winning something and therefore add a bit to the pot value. On the other hand, smaller multiples usually mean smaller packages. It is common for the pot to be split even if several players have innings with all winning numbers.
Payment of prizes
The benefits (in the United States) are not necessarily paid in a lump sum, contrary to the expectation of many lottery participants. In some countries, mainly the United States, the winner can choose between an annuity payment and a single payment. The single payment (in cash or a lump sum) is a "lesser" amount than the advertised jackpot (annuity), even before applying any withholding to which prize is subject. While withholding varies by jurisdiction and how the winnings are invested, it is suggested that the winner who chooses a lump sum expects to pocket 1/3 of the jackpot announced at the end of the fiscal year. Therefore, a winner of a $ 100,000,000 pot that chooses cash can expect $ 33,333,333.33 net after filing the income tax document for the year in which the pot was won.
Lottery annuities are often for a period of 20 to 30 years. Some lottery games in the United States, especially those that offer a lifetime prize, do not offer a lump sum option.
In some online lotteries, annual payments are only $ 25,000, with a balloon payment in the last year. This type of installment payment is often done through investing in government-backed securities. Online lotteries pay winners through their insurance backing. However, many winners choose a lump sum because they believe they can get a better rate of return on their investment elsewhere.
In some countries, lottery winnings are not subject to personal income tax, so there are no tax consequences to consider when choosing a payment option. In France, Canada, Australia, Germany, Ireland, Italy, New Zealand, Finland and UK, all prizes are immediately paid as a lump sum, tax free for the winner. In Liechtenstein, all winnings are tax free and the winner can choose to receive a lump sum or annuity with respect to the jackpots.
In the United States, federal courts have consistently held that lump sum payments received from third parties in exchange for lottery annuity rights are not capital goods for tax purposes. Rather, the overall amount is subject to the ordinary treatment of income tax.
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Gudi Padwa Lottery:Gudi Padwa, the first Holy festival which marks the beginning of the New Year, new month and new day for the Hindus falls on Chaitra Shukla Pratipada. (8th April 2016) It is known as Gudhi Padwa (in Maharashtra), Ugadi (in Karnataka, Andhra Pradesh). Here we are providing you all an awesome collection of Gudi Padwa Lottery gif images, wallpapers, pictures, photos.On this very day Lord Brahma created the Universe. Therefore for Hindus, this day carries special importance. The day is celebrated with an auspicious bath, followed by decorating the doorway with a toran , performing ritualistic worship and hoisting the Gudhi.Gudhi Padwa is celebrated as Ugadi (or Yugadi) in Karnataka and Andhra Pradesh. The day, begins with ritual showers (oil bath) followed by pooja to god and Panchanga Shravana.Houses are decorated with Mango Leaves and Rangoli and everyone in the family wear new clothes and celebrate the festival by wishing each other New year greetings.
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To get information about the topic maharashtra gudi padwa bumper draw full report ppt and related topic refer the page link below
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Hi,
I would like to know the results for Maharashtra GudiPadva bhavyatam Sodat date 12th April 2016.
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Banao apne gudi bumper draw ke sang.Sapano ka ghar maharashtra lottery ke sangh
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Send full draw / result list of gudipadwa bumper DT 21.3.2015
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Send me maharashtra rajya lottery gudipadwa results
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