The federal government reports that millions of Americans lose money every year to foreign lottery scams. While foreign lotteries can be enticing and sometimes even profitable, these scams are illegal and not worth it. People who fall for such scams are more likely to become scam targets in the future. To avoid getting scammed, be sure to read the fine print on foreign lottery websites and avoid signing up for them.
Beware of fraudulent letters claiming you’ve won a foreign lottery. Such letters generally promise a large prize or a lump sum payment. This is a scam and you should immediately delete them. These unscrupulous companies will not disclose the identity of their sponsors. Moreover, these companies are not regulated by their home countries.
If you’ve played an international lottery, you should know that Australians will not be subject to Australian taxes on winnings. However, you should be aware that some overseas lotteries have taxes that you’ll need to pay in their country. For example, the US Mega Millions is one of the most popular lotteries in the world, thanks to its huge jackpots and long list of winners. Another big jackpot winner is the US Powerball, which has changed millions of people’s lives for decades.
The Mega Millions lottery costs a dollar per play and has been the source of numerous world record jackpots. Several winners of this lottery have won more than $656 million with a single ticket, and two tickets have won more than $648 million. The lottery pays out 50% of ticket sales to the winners, with the remaining 50% split among retailers, marketing operators, and states.