[imagesource: Pexels / Erik Mclean]
Our current South African lotteries have rolled over a few times and are looking rather hefty. The PowerBall is at R92 million and the PowerBall Plus at R68 million, while the Lotto is at R61 million. Unlike our lotteries, you won’t receive that full amount tax-free and there’s also a deduction if you choose to take a one-time lump sum payment as opposed to having it spread out over time.The next draw will be Monday night US time, or Tuesday morning our time, reportsThe new $1.9bn jackpot is for a winner who is paid through an annuity over 29 years. Winners of lottery jackpots usually prefer a lump sum of cash, which for Monday’s drawing would be $929.1m .
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