Virginia Lottery Introduces Bank a Million Game
Wednesday August 26th 2015The Virginia Lottery is set to retire its $1,000,000 Money Ball game this weekend in favor of a new game called Bank a Million, which offers all taxes paid on the top prize, meaning that players don’t have to eat into their winnings to pay the taxman after they’ve snagged a huge windfall. The top prize is actually given to the winner as a sum of $1,408,451, which will amount to a cool million bucks after taxes.
Starting on September 2nd, drawings will be held on Wednesday and Saturday evenings at 11:00 PM, the same as $1,000,000 Money Ball, but instead of tickets costing a flat $2 each, Bank a Million will provide players with the opportunity to submit different wagers in exchange for the possibility of winning different prize amounts. Paying the full $2 on a ticket will give you the chance to win $1 million with all taxes paid, but you can also stake $1 or 50 cents for the opportunity to beat the odds and win either $704,226 ($500,000 after taxes) or $352,113 ($250,000 after taxes) respectively.
However, your combined wager must equal $2 per ticket with no split bets - you could make four wagers of 50 cents each, but you couldn’t make one wager of $1 and three wagers of 50 cents. Have a look at the table below to learn more:
| Match | $2 Ticket | $1 Ticket | 50¢ Ticket | Odds of Winning |
| 6 Numbers | $1,408,451 | $704,226 | $352,113 | 1 in 3,838,380 |
| 5 Numbers + Bonus Ball | $20,000 | $10,000 | $5,000 | 1 in 639,730 |
| 5 Numbers | $2,000 | $1,000 | $500 | 1 in 19,386 |
| 4 Numbers + Bonus Ball | $400 | $200 | $100 | 1 in 7,754 |
| 4 Numbers | $40 | $20 | $10 | 1 in 485 |
| 3 Numbers + Bonus Ball | $40 | $20 | $10 | 1 in 363 |
| 3 Numbers | $4 | $2 | $1 | 1 in 35 |
| 2 Numbers + Bonus Ball | $8 | $4 | $2 | 1 in 47 |
Overall odds of winning any Bank a Million prize are 1 in 18.3.
You still have some chances to play $1,000,000 Money Ball before it goes to the great lottery in the sky - the game will close after the draw on Saturday, August 29th and Bank a Million ticket sales will begin on Sunday, 30th August. If you’re after a new way to play the lottery and want to win big without having to fork over a chunk to Uncle Sam, then Bank a Million is for you. Good luck!
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