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MERRY MILLIONAIRE RAFFLE
HOW IT WORKS: This is more like a traditional raffle. Think of your church fundraiser. The lottery has 500,000 tickets to sell for $20 each. Tickets will be on sale until they are gone or until 2 a.m. Dec. 27. Later that day, a computer will randomly pick winning numbers.
PRIZES: 2,517 numbers will win something. Four winners will receive $1 million. Five will win $100,000. The bulk of the winners will receive $100. After taxes, the $1 million prizes are worth $680,000.
CHANCES TO WIN: The raffle offers some of the best odds of winning big prizes you'll ever get from the state lottery. That said, if all tickets are sold, the chances of winning a $1 million prize are one in 125,000. Odds of winning $100 are 1 in 250. Those odds improve if not all of the raffle tickets are sold. By comparison, according to the National Weather Service, the odds of being struck by lightning in your lifetime (assuming an 80-year life) are 1 in 5,000.
MONEY IT RAISES: The lottery raises money for education programs. To break even, the raffle will need to sell at least 290,000 tickets. If all tickets are sold, it will raise $3.5 million for education.
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