SuperEnalotto, what is the tax and how does it work?

Winning the lottery is a dream for many, and some even succeed. The most popular game in recent times is this SuperEnalotto, an Italian lottery known for its exceptional jackpots, which are always worth at least €2 million and can be worth over €100 million. The draws take place every Tuesday, Thursday and Saturday evening at 8pm and to win the jackpot you need to match six numbers between 1 and 90. The next SuperEnalotto jackpot has a record value of 358.5 million eurostouching the highest price palm in the world at the moment.

Taxes on SuperEnalotto prizes

But the lucky winner should know that after accumulating the star total, they will have to pay taxes. From 2020 the tax office applies a 20% taxation on all SuperEnalotto prizes of €500 and more Goods under 500 euros are tax-free.

The profit tax is to be levied sisal, the lottery dealer that automatically withholds taxes on winnings. This means that winners will receive the prize after taxes with a document certifying payment of this tax charge, which they can then submit to the as proof of paymentAgency of Revenue.

Even if a foreigner plays Superenalotto, he will be taxed. This is because tickets are bought in Italy. When the gaming concessionaire pays out the winnings, the winners receive the sum minus withholding tax.

We would like to point out that from a statistical point of view it is necessary to win the Superenalotto jackpot Guess a combination of 6 out of 90 numberswith a 1 in over 622 million chance of winning. In other words, the probability of winning is 0.00000016%, while the loss of the bet amount is 99.99999984%. Instead of relying on luck, it is better to bet on the right one to get more capital financial planning. read this 5 rules of the good investor on Wall Street Italy!