On February 28th, Florida Lottery is set to introduce its latest $50 scratch-off game called 500X the Cash and offering one of the highest jackpot prizes ever seen in lottery history. According to Meredyth Hope Norrman of the state agency that operates the lottery, they made the conscious decision “to increase ticket price threshold and see how Florida’s players respond,” after consulting market research firms, industry performance standards experts, product specialists and contract gaming vendors in making their decision about increasing ticket pricing point.
Players who purchase winning 500X the Cash tickets could walk away with up to $15 Million in total prizes – from 5X multiplier levels ranging from 5X to 300X the prize displayed on its playfield! In addition, they could select bonus spot numbers to win additional $100, $200 or $500 prizes – making this scratch-off game’s maximum prize pool $10 Million, making it the largest single scratch-off prize offered by Florida Lottery ever.
Persons winning prizes in the Florida Lottery may either opt for a lump-sum payment or installment payments; its total value depends on how much their prize was and their remaining monthly installment payments depend on how long their agreement has to run. Furthermore, all applicable taxes must also be paid on any awards won.
The Florida Lottery offers eight exclusive draw games only to Floridians, such as regional multi-state Cash4Life and local Fantasy 5. Cash4Life offers jackpots that begin at $1 million and continue rolling until someone wins them, while add-ons allow players to multiply non-jackpot prizes or enter additional drawings.
To play Florida Lottery games, a player must purchase their tickets at one of Florida Lottery’s official retailers – these could include convenience stores, gas stations, grocery stores or tobacco shops across Florida. Becoming an official retailer is relatively simple and offers great benefits – such as receiving a portion of ticket proceeds sold.
Winners in the Florida Lottery must claim their prize within 180 days from the drawing, or it will expire and no one will claim it. To claim your winnings, either use the Florida Lottery mobile app to scan or enter it manually into the website to claim your prize. If a player resides outside Florida, registration data must be submitted via mail that includes their physical mailing address and valid telephone number. This information will then be compared to a Florida address database to determine whether or not a prize qualifies for lump-sum or periodic installment payments. If eligible, the Florida Lottery will reach out directly to discuss payment options; otherwise it will issue the prize by certified check.