Greece Lotto Review
Ouzo, olives, the Acropolis and Crete – these aren’t the only things that Greece is known for. No, we’re not talking about My Big Fat Greek Wedding either. Greece has a couple of fun lotteries and the official Lotto (ΛΟΤΤΟ) is one of them.
With a ticket costing as little as 0.5 euro, Greece Lotto is definitely worth the try. If you’re a bit more inquisitive, however, you’ll probably have some additional questions about the odds and the lower division awards. Don’t worry – we have you covered. Here’s everything that you need to know.
Greece Lotto: The Background
The first Greece Lotto draw took place in 1990. This is one of the most popular lotteries run by the national operator OPAP. The company came into existence back in 1958 and before organizing lottery games, OPAP was responsible for soccer game predictions.
The minimum guaranteed jackpot of Greece Lotto is 300,000 euro, which isn’t that impressive when compared to other international lotteries. Several other characteristics, however, turn many lottery enthusiasts into loyal Greece Lotto fans.
Is Greece Lotto a Scam?
It’s better to be safe than sorry, but there are no reasons to worry when it comes to this Greek lottery.
As already mentioned, the game is operated by a national company. OPAP is the operator that runs various other lotteries in Greece, Joker and Super 3 included. Greece Lotto has been around for more than 25 years already. Over these years, it has handed out billions of euro in awards.
How does It Work?
Greece Lotto follows one of the most popular lottery formats – pick 6 out of 49 numbers to win the jackpot. As already mentioned, the guaranteed jackpot is 300,000 euro and if it’s not won, the sum will roll over towards the jackpot for the next drawing.
Apart from the 6 main numbers, an additional number is also drawn. This additional number doesn’t impact your chance to win the jackpot, but if correct, it will increase your second tier earnings significantly.
The good news is that Greece Lotto features two draws every week – on Wednesday and Saturday. The affordable tickets (only 0.50 Euro per line) and the accumulation of jackpots are two of the lottery’s biggest perks.
There’s nothing complicated about playing the lottery – just choose 6 + 1 number. If you’d like it a bit more complex, but also increase your chance of winning, you can play a standard system, a full system or a permutations system.
Odds and Prizes
The odds of winning the Greece lotto jackpot are 1 in slightly over 13.98 million. The odds of getting the 5 main numbers and the bonus number correct are 1 in 2.33 million. You have 1 in 55,491 chance of getting 5 correct numbers and 1 in 1,083 dollars for getting 4 correct numbers.
|1st Prize||6||1 : 13,983,816|
|2nd Prize||5+1||1 : 2,330,636|
|3rd Prize||5||1 : 55,491|
|4th Prize||4||1 : 1,083|
|5th Prize||3||1 : 61|
The estimated prize you’re going to win if you match 5+1 is 50,000 euro. In comparison, having only 5 correct numbers without the bonus will give you only 1,500 dollars in cash. The prize for 4 correct matches is 30 euro and the average for 3 correct matches is 1.5 euro.
As already mentioned, the jackpot will roll over and all of the prize tier’s money will be divided between the all of the people that got the correct numbers for the particular division. The biggest jackpot ever won was 7.5 million euro and the lucky ticket was submitted for the January 20, 2010 draw.
Taxation, International and Players and Some Other Facts
The bad news is that lottery winnings in Greece are subjected to taxation.
An award in the range from 100 to 500 euro is subjected to a 15 percent income tax. Higher awards, jackpots included, are subject to a 20 percent income tax. If you’re an international player, you may want to also familiarize yourself with the local lottery income tax regulations.
Speaking of international players, yes, you can play Greece Lotto regardless of your location. Web-based lottery operators have made it possible for players to choose among a vast range of international lotteries. These service providers have local reps who are responsible for purchasing lottery tickets on behalf of the clients.
If you opt for a web-based lottery operator, you’ll also get the award through the service. If you win a larger amount, however, you may have to get personally involved in order to collect. Each online platform has its regulations that you may want to check out before signing up.
Keep in mind that all of the Greece Lotto cash awards are paid in the form of a lump sum. Players have 3 months from the day of the draw to collect their cash.
The Bottom Line at Greece Lotto
Greece Lotto is a fun opportunity to test your luck and win some cash. The lottery has a couple of important merits:
Two draws take place per week
The lottery is open to international players
The ticket prices are more than reasonable
Greece lotto comes with a jackpot rollover
There’s a guaranteed jackpot for every draw
The bonus number increases the amount of second division prizes
It’s possible to play systems
All of the prizes are paid in the form of a cash lump sum
Some of the proceeds generated through ticket purchases go to good causes and local development
We have to bring the bad news, but in order to make a rational decision, you need to have an idea about the cons of Greece Lotto:
The minimum guaranteed jackpot isn’t that impressive
The lower division prizes aren’t that impressive, either
Greece has an income tax policy that you’ll be subjected to
The odds of winning the jackpot aren’t that good
Should You Play Greece Lotto?
Greece Lotto is legitimate and the game has some of the most affordable tickets out there. Sure, the prizes aren’t that impressive, especially if you’re a PowerBall or a EuroMillions fan. These two lotteries, however, come with more expensive tickets and ridiculous odds.
We give you the thumbs up to try Greece Lotto. Though it doesn’t stand out as the most generous lottery out there, who knows – this could be your opportunity to gain some nice cash. Good luck!