Jumbo Bucks Lotto Review
What’s the problem with state-only, offline lotteries? Most of these games don’t offer such an exciting jackpot. Spending a dollar or two on the purchase of tickets isn’t difficult, but most people don’t get too excited because the chances of winning are relatively limited.
Georgia decided to shake things up a little bit and change the rules of the game in February 2015. This is when the state’s newest lottery called Jumbo Bucks was launched. With a minimum guaranteed jackpot of 1 million dollars, the Jumbo Bucks has quickly become a favorite among Georgia residents.
Jumbo Bucks Lotto Overview
As already mentioned, the game is a relatively new one (probably the newest one that we’ve written about). It was only launched in February 2014 and since the start, Jumbo Bucks has had 2 drawings per week – on Monday and Thursday.
The first Jumbo Bucks drawing took place on February 23 and the first Jumbo Bucks lottery jackpot winner won a lucky ticket for the April 2, 2015 drawing. The sum was 2.1 million dollars.
Is Jumbo Bucks Lotto a Scam?
While it’s still relatively new, Jumbo Bucks has proven quickly that it’s not a scam.
The game is run and operated by the Georgia Lottery Corporation, an entity that was established back in 1992. Its primary mission was to generate funds for educational initiatives throughout the state. Since its establishment, the organization has donated more than 16 billion dollars to the state. The money has been used to enhance education in Georgia.
On average, Georgia Lottery has 40 to 45 instant ticket games at any given time. In addition, it’s the state operator of games like Cash 3, Cash 4, Fantasy 5, Georgia Five, All or Nothing, 5 Card Cash, Keno, Mega Millions and Powerball. Jumbo Bucks is the baby in the family.
You can rest assured that you’re not going to be scammed if you buy a Jumbo Bucks ticket. What’s even better, some of the money you’ve spent will go to give students better opportunities to learn.
How to Play Jumbo Bucks?
Playing Jumbo Bucks is easy though the game doesn’t come with a standard format.
Choose 6 numbers from a pool of 47. To win the jackpot, you’ll have to match all 6 numbers drawn. Every single line costs a dollar to play. Once you go to a licensed retailer, you can buy advance tickets for up to 26 upcoming drawings.
Jumbo Bucks has one additional opportunity you can activate to win money. The opportunity is called Cash Match and it costs 1 additional dollar per play. If your Jumbo Bucks lottery numbers and your Cash Match numbers are a match, you can instantly claim the corresponding cash prize.
The Cash Match activation allows you to benefit from an additional multiplier. The multiplier is printed on your ticket and it can increase your Cash Match win by x2 to x10 times. Keep in mind that the multiplier does not apply to the regular prize tiers.
Prize Tiers, Winning Distributions and Odds
Jumbo Bucks features a minimum guaranteed jackpot of 1 million dollars – an impressive number for a state-only lottery. If there’s no winner for the respective drawing, the jackpot will roll over towards the next one.
The odds of winning the jackpot are 1 in 10,737,573. While the numbers are less favorable than what other offline lotteries have to offer, the minimum guaranteed jackpot does justify the 1-dollar expenditure on a ticket.
|6||1 in 10,737,573|
|5||1 in 43,649|
|4||1 in 873|
|3||1 in 50|
Several jackpots have been won since the start of the game. The biggest one so far fell on April 14. A lady from Lakeland won 3.9 million dollars by matching the sequence of 14, 15, 31, 36, 38 and 44. Tammy Radabaugh was taking her granddaughter to karate practice and she decided to buy a ticket spontaneously. The lucky lady said she was going to use the money to build a new home for the family. Radabaugh and her husband have 3 children and 8 grandchildren to please with the millions.
Apart from the jackpot, Jumbo Bucks features 3 additional prize tiers. People that match 5 numbers will win 500 dollars. The odds of such a match are 1 in 43,649. A match of 4 numbers will produce a prize of 50 dollars and a 3-number match guarantees a prize of 5 dollars.
The overall odds of winning any prize in Jumbo Bucks are 1 in 47.56. When Cash Match is activated, the odds of winning a prize go up to 1 in 2.94. Needless to say, such statistics are incredibly favorable, even if some of the prizes are rather negligible in value.
Collecting Prizes, Rules and Regulations
Jackpot winners have 2 options to choose among – they can either get the money as a lump sum or opt for 30 payments over a period of 29 years.
Prizes of 600 dollars or less can be claimed at any Georgia Lottery retailer or by mail. A claim form and a valid ID will be required for the payment to be processed. Prizes that exceed 600 dollars should be claimed in person at the Georgia Lottery headquarters in Atlanta. Depending on the size of the prize, it will either be paid on the same day or within a 10-business day period.
Players have 180 days from the date of the drawing to make a claim for any prize.
One final unpleasant matter to discuss is… you’ve guessed it – taxation. Federal and state taxes will be deducted from all of the prizes that exceed 5,000 dollars. The state income tax is 6 percent and the federal tax is 25 percent.
Foreigners who live in Georgia are free to buy Jumbo Bucks tickets. If you’re not a US resident and you win the lottery, keep in mind that a 30 percent federal tax will apply.
Can You Buy Jumbo Bucks Lotto Tickets Online?
Jumbo Bucks is a state-only lottery that’s available on the territory of Georgia. You can’t buy tickets through one of the major international online lottery agency platforms. People who live in Georgia can buy tickets from the licensed local retailers or through the official website of the Georgia Lottery.
Jumbo Bucks Lotto: The Final Verdict
Jumbo Bucks is a lot of fun and several characteristics set it apart from other state lotteries. Let’s go through the best features of the lottery once again:
There are 2 drawings per week
Jumbo Bucks comes with a minimum guaranteed jackpot of 1 million dollars
The jackpot will roll over if there is no winner
The price of a single ticket is 1 dollar
Cash Match is an additional option available for 1 dollar
Cash Match produces instant prizes
When Cash Match is activated, the odds of winning a prize become incredibly favorable
Foreigners that live in Georgia are free to buy Jumbo Bucks tickets
The jackpot can be paid out either as a lump sum or in the form of annuities
Some of the money generated through ticket sales will go to educational initiatives in Georgia
The shortcomings aren’t that many but they still have to be mentioned for the sake of objectivity:
The lower prize tiers are only 3 and they’re not that impressive
Cash Match and its multiplier don’t apply to the standard prize tiers
There are both federal and state taxes applied to prizes exceeding 6,000 dollars
The name says it all – Jumbo Bucks does have an impressive jackpot. While the other prize tiers are a bit meh, the million-dollar jackpot and the low price of the ticket both make Jumbo Bucks worth a try. If you live in Georgia, you should definitely test your luck and let us know what your experience with the state’s newest lottery has been.