Colorado Lotto Review
Here’s a fun trivia question for you – do you know what the most popular lottery exclusive to Colorado is? No need to open your browser and launch Google, we have the answer. It’s called Colorado Lotto and it’s been around ever since 1989. Though Colorado Lotto doesn’t often online ticket buying options, it’s still worth a try.
Lotto is just one of the numerous games run and operated by the Colorado State Lottery. Several characteristics, however, make it more popular than the other opportunities. Let’s start from the beginning and figure out why Colorado Lotto appeals to so many people.
The History of Colorado Lotto
Colorado Lotto was launched in 1989 and ever since, it’s maintained the same gameplay format. One major change did take place, however. Originally, the Colorado Lotto drawings took place solely on Saturdays. As the game accumulated popularity, the state lottery announced there would be two drawings per week – on Wednesday and Saturday.
Is Colorado Lotto a Scam?
Colorado Lotto is a completely legitimate opportunity to win some money, if you’re lucky enough to live in the state.
The lottery is run and operated by the Colorado Lottery, an entity that was formed in 1983 and that’s operated by the state government of Colorado. Just like various other state entities, Colorado Lottery is a member of the Multi-State Lottery Agency (MUSL). Thus, you have security both on the state and on a national level with two reputable organizations standing behind the game.
Apart from being the Colorado Lotto operator, Colorado Lottery runs various other lotteries and games available in the state. Some of the other popular opportunities that Coloradoans can pick among include Cash 5, Pick 3, Lucky for Life, as well as Mega Millions and Powerball. Colorado Lottery is also the operator of the discontinued MatchPlay – a game that ended in the summer of 2012.
Why are we giving you all of these details? It’s simple – we want to establish the legitimacy of Colorado Lotto. It’s not a scam, the tickets are affordable and you certainly get a wonderful chance to win some nice cash.
How to Play Colorado Lotto?
Colorado Lotto comes with a 6 out of 42 format. To put it in simple terms, you have to get 6 correct numbers from a pool of 42 for the respective drawing to win the jackpot.
Every single entry costs you 1 dollar.
Colorado Lotto has made one very cool feature available for players. If you’re an avid fan, you don’t have to visit a local vendor two times per week. There’s an option to buy tickets for up to 13 weeks in advance (thus, you’ll have tickets for the upcoming 26 drawings).
Prizes, Awards and Odds
Since this is a 6 out of 42 game, the odds of winning the jackpot are 1 in 5.25 million. There’s a minimum guaranteed jackpot of 1 million dollars. If there’s more than one jackpot winning ticket for the respective drawing, the money will be split equally among all of the winners.
Colorado Lotto has a jackpot rollover feature. This means that if the jackpot isn’t won during the respective drawing, it will roll over towards the upcoming drawing. The biggest jackpot ever won totaled 27 million dollars. The lucky person to get this delicious amount is called Kim Walker and she won back in 1992. Her accomplishment has been unparalleled ever since and we think that it’s time for someone to challenge her already. Who knows, you could be the next big winner!
|Divisions||Matches||Odds to Win|
|1 Prize||6||1 in 5,245,786|
|2 Prize||5||1 in 24,287|
|3 Prize||4||1 in 556|
|4 Prize||3||1 in 37|
The lowest prize tier is 3 out of 6 and the odds of getting these many correct numbers are 1 in 37. The prize is 3 dollars, which is still higher than the cost of the ticket. The other prize tiers vary in amount. Colorado Lotto has a prize pool that consists of 50 percent of the ticket sales. Having sold more tickets for the respective drawing will make a bigger sum available for distribution among the winners.
The odds of having 5 correct numbers are 1 in 24,287. On the average, these people win between 700 and slightly over 900 dollars. The odds of having 4 correct numbers are 1 in 556. The overall odds of winning any prize are 1 in 35.
Some Information for Winners
Colorado Lotto drawings take place two times per week at 7:35 pm. Colorado Lotto has a cool feature for players that enables them to receive information about the latest drawn numbers on their phone or via email. More information about the functionality is available on the lottery’s official website.
Prizes in the range from 3 to 599 dollars can be obtained from a local retailer. The Colorado Lotto website has a Lottery Claims Center that provides more information about the possible options for collecting the money.
All prizes that exceed 599 dollars are to be claimed by contacting the Lottery Claims Center. A valid form of ID will be required and you’ll also have to present the winning ticket. The same rule applies to the jackpot winners.
Jackpot winners have two options to choose among – cash and annuity payments. People that opt for the cash value will usually end up collecting approximately 50 percent of the advertised jackpot. Alternatively, there will be 25 annuity payments with the first payment totaling 2.5 percent of the jackpot. Each next payment will be 3.7 percent of the sum, until the entire amount is paid out.
It’s important to keep in mind there are taxes owed. There’s a 25 percent federal and a four-percent state tax applying to Colorado Lotto prizes that exceed 5,001 dollars.
Can You Buy Colorado Lotto Tickets Online?
Colorado Lotto is fun, but you can only participate if you’re in Colorado. Currently, the state lottery doesn’t feature any online ticket sales.
The Bottom Line at Colorado Lotto
Colorado Lotto is far from the most exciting game on the face of the planet, but it has a couple of cool characteristics:
Low ticket prices
There’s a minimum guaranteed jackpot of 1 million dollars
The jackpot rolls over
There are 2 drawings per week
The game features a 6 out of 42 instead of the standard 6 out of 49 format
Odds of winning the jackpot are relatively favorable
The overall odds of winning any prize are good
Some of the money generated through ticket sales will go to supporting good causes throughout Arizona
Colorado Lotto tickets can’t be bought online
There are no multipliers that increase the lower prize tiers
Lower tier prizes aren’t too impressive
The prizes are only 50 percent of ticket purchases, there are no guaranteed amounts
Both state and federal taxes apply to prizes exceeding 5,001 dollars
Having a ticket price of solely 1 dollar, Colorado Lotto is definitely worth exploring. It isn’t the most exciting or dynamic lottery in the world. It doesn’t have massive jackpots like some of the international opportunities. Still, it’s 100 percent legitimate and it could be your chance to win some money. This is why we definitely encourage you to give it a try.