Israel New Lotto Review
Do you know which lottery dates back to the establishment of the country where it’s held? The name of the article has probably given you a clue already. Israel’s New Lotto is one of the oldest in the world and while it has undergone some changes through the years, its popularity remains high today.
Israel New Lotto features a double matrix and a juicy jackpot. If this is the game format that you’re interested in, chances are that you’ll find this opportunity quite lucrative.
Israel New Lotto: A Brief Overview
New Lotto was set up in 1951 under the name Israel Lotto. It got its new name in 2009 and this wasn’t the only change. The format of the game and the top award have also been modified a couple of times.
Originally, the game had a 6/34 + 1/10 format. Eventually, it was changed to 6/37 + 1/8 to finally reach the format that’s being used today – 6/37 + 1/7.
Ever since its inception, the traditional jackpot game has been quite popular. Today, there are two drawings per week and they take place on Tuesday and Saturday. Millions of people from Israel and other countries try their chance each week and attempt to win the jackpot.
Is Israel New Lotto a Scam?
If the answer were positive, New Lotto would have to be one of the longest running scams out there. Luckily, the game is 100 percent legitimate and backed up by an official entity responsible for its organization.
New Lotto is one of the games in the portfolio of the National Lottery of Israel – Mifal HaPayis. Since betting is illegal in Israel, Mifal HaPayis is one of the only two entities allowed by law to organize such games (the second one being The Israeli Sports Betting Council).
Originally, the National Lottery of Israel was established to accumulate funds for hospital construction in Tel Aviv. Originally, funds were dedicated solely to healthcare projects, but the scope of initiatives increased through the years.
Today, Mifal HaPayis has a number of games in its portfolio with New Lotto being the most popular one. The other entries include Chance, Keno, 777, 123, the Big Lottery and a range of scratch card games called Hish Gad.
Mifal HaPayis is an official organization that has a chairman and a licensing agreement with the Israeli Ministry of Finance. Its operations are completely transparent and you can give New Lotto a try without worrying about getting scammed.
How to Play New Lotto
New Lotto is a 2-matrix game and in order to win, you have to choose 6 correct numbers from a pool of 37 and an additional (chazak) number in the range from 1 to 7. There’s a total of 8 prize categories and a minimum guaranteed jackpot of 4 million NIS (1.08 million dollars).
If there’s no winner for the respective drawing, the sum will roll over towards the next one. Because of this lovely characteristic, New Lotto has been known to produce some pretty impressive jackpots over the years.
Players have a couple of options when it comes to buying their tickets. The simplest one is picking 6 + 1 number for a standard bet. It’s also possible to play a double. There’s also a possibility for playing a range that features all combinations with the respective numbers. A range could feature anywhere between 7 and 12 numbers.
Prizes and Odds
As already mentioned, New Lotto comes with a minimum guaranteed jackpot of 4 million NIS. The odds of winning the jackpot are 1 in 18,598,272.
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The biggest jackpot in the history of the game was won in October 2007. This is the highest single ticket jackpot and one lucky person became 16 million NIS richer. According to the game rules, the maximum jackpot is capped at 56 million NIS. If there’s more than one winner for the respective drawing, the sum will be split among all lucky individuals.
Seven additional prize tiers are available. People who match 6 numbers will win the second prize. The odds of this happening are 1 in 2,656,896 and there’s a minimum payout of 0.5 million NIS.
People who match 5 numbers win the third prize and the odds of this happening are 1 in 999,991. The smallest prize in the game is won by the people who match 3 numbers and the odds are 1 in 30. The overall odds of winning a prize in New Lotto are pretty good.
One thing to keep in mind is that the lower prize tiers in Israel New Lotto fluctuate. The sum won will depend on the number of tickets purchased for the respective drawing and the number of winners within the tier.
Some Information for Winners
Israel New Lotto winners will have to keep a few important facts in mind. For a start, all prizes are paid out in the form of a cash lump sum. Smaller prizes can be claimed at any licensed retail venue. For larger sums and the jackpot, players will have to make a claim in the National Lottery of Israel headquarters in Tel Aviv.
Prior to 2003, Israel did not impose an income tax on lottery prizes. Unfortunately, things have changed since then. Sums of up to 54,959 NIS are tax-free. Winnings that exceed the minimum threshold are subject to a 25 percent income tax.
If you’re an international player, you’ll also have to check the regulations in your own country. Many countries have their income taxes that apply to lottery prizes, which means you’ll be subjected to double taxation.
Can You Buy Israel New Lotto Tickets Online?
International players can test their Israel New Lotto luck because online ticket buying options are available. Game tickets can be acquired through the web-based lottery agents that are responsible for making the purchase on behalf of their clients.
The Bottom Line at Israel New lotto
One of the oldest and most well established lotteries in the world is definitely worth a try. New Lotto from Israel has a number of merits, we’re going to summarize in the following list:
Organized by an official national entity and having decades of history
The drawings take place two times per week
There are 8 prize tiers with relatively favorable odds in comparison to other national lotteries
A minimum guaranteed jackpot of 4 million NIS is available
The jackpot will roll over if there’s no winner, which means it can reach a pretty impressive sum
All of the prizes are paid out in the form of a cash lump sum
International players can buy tickets online
A large portion of the funds generated through ticket sales will go to support good causes
The shortcomings of New Lotto are just a few, but you’ll still need to acquaint yourself with these cons prior to figuring out whether the lottery is the right one for you:
The lower prize tiers aren’t too impressive and if there’s a big number of winners, the sum per person will decrease
The odds of winning the jackpot aren’t the most favorable because of the double matrix being used
Israel imposes a 25 percent income tax on the larger prizes (which also means that international players may be subjected to double taxation)
As far as legitimacy goes, New Lotto is a safe bet. The lottery does have a number of cool features and it will appeal to a big number of passionate lotto enthusiasts. Are you one of them? Getting your ticket and testing your luck is the only way to find out whether Israel’s New Lotto is the opportunity you’ve been waiting for.